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Old 09-05-2019, 09:30 PM
 
2,231 posts, read 1,301,617 times
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There is a field for it in Maricopa County Assessor data....golf courses aren't as permanent as many think they are.
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Old 09-06-2019, 07:19 AM
 
Location: SW Florida
10,891 posts, read 5,105,467 times
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Does this place require you to join the golf club? I know where I live one of the near-by communities adds $81,000 to the purchase of your house or townhome for the Country Club which you are required to join. The seller gets a certain percentage of that back when they sell their home but I would think it makes it difficult to sell your house to someone unless they are really into golf.
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Old 09-06-2019, 11:03 AM
 
5,735 posts, read 3,734,348 times
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I knew a guy who had a house up against a golf course...

He had a bin of balls he'd find in his yard...

and a bunch of siding to repair...
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Old 09-06-2019, 11:40 AM
 
Location: East of Seattle since 1992, originally from SF Bay Area
30,462 posts, read 55,436,840 times
Reputation: 32193
It's like a swimming pool. Yes, it adds to the appraised value of the home, but unlike waterfront and views, the golf course and pool are only desirable to those that golf or swim. For others it's a deal breaker, so despite the higher value, the group of potential buyers is reduced.
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Old 09-06-2019, 03:43 PM
 
2,830 posts, read 1,727,932 times
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We have a golf course lot. When it was built, the previous owners paid a $20k premium for the lot (most other GC lot premiums were $25-30k, but our lot is on a curved part of the street, so the lot is slightly smaller than average.)


It's definitely still a higher demand lot vs a non GC lot here.
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Old 09-07-2019, 12:17 AM
 
9,060 posts, read 8,268,575 times
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Remember OP said recent sales of golf front homes have been below not golf front, and none have sold at a premium for golf front homes this past year. Using golf front home sales as his/her comparable homes, would lower the value of subject property. The appraiser is trying to give maximum value to the property.

We have no way of knowing why those golf front homes have lost their price premium, but apparently they have, especially the past two years. Sales history supports they no longer have any premium value, instead losing value being on that golf course.
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Old 09-08-2019, 09:00 AM
 
Location: Loudon, TN
6,072 posts, read 5,012,861 times
Reputation: 20706
Quote:
Originally Posted by LordSquidworth View Post
I knew a guy who had a house up against a golf course...

He had a bin of balls he'd find in his yard...

and a bunch of siding to repair...
We're on the 18th fairway of our course, but we've never had a ball come close to hitting the house. We find a few balls near the rear of the property. It all depends on the proximity to the tee, and the direction from the tee. Tee shots are the ones most likely to veer radically off course and hit a house, so buying a house 50-150 yards forward and to the right of the tee you're bound to get pelted by a few slices. We're also set back from the course a good 30 yards and have few lower level windows. It would take a really strong, really poor golfer to hit a window, and our exterior doesn't dent. If you're a golfer you can sort of imagine which houses on the course will be getting whacked a lot.

Houses on the course here do command a small premium over non-golf, non-view lots.
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Old 09-09-2019, 09:21 AM
 
Location: Raleigh NC
9,897 posts, read 7,471,147 times
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I was not aware the lenders were telling appraisers how to fulfill their professional responsibilities in choosing comps like that.
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Old 09-09-2019, 10:12 AM
 
Location: Florida -
8,875 posts, read 11,034,367 times
Reputation: 17069
It shouldn't be that difficult to determine if homes ON a particular golf course are selling for a premium over those not adjacent to the course. If they are, then the appraisal will be higher. If not, specific comp information on home sales will show that.

Otherwise, trying to appraise or decide whether 'golf front' homes in a particular area "should or should not" command a premium, based on general assumptions or feelings, seems irrelevant.
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Old Today, 01:51 PM
 
Location: Raleigh
8,512 posts, read 6,379,115 times
Reputation: 11887
Quote:
Originally Posted by BoBromhal View Post
I was not aware the lenders were telling appraisers how to fulfill their professional responsibilities in choosing comps like that.
I get what you're saying, but certainly they have to have some oversight/due diligence, no? At some point are red flags raised where a lender says "That ain't right?" I'm not implying that a Golf Course vs non Golf course home should be one but all the same.
Quote:
Originally Posted by Hemlock140 View Post
It's like a swimming pool. Yes, it adds to the appraised value of the home, but unlike waterfront and views, the golf course and pool are only desirable to those that golf or swim. For others it's a deal breaker, so despite the higher value, the group of potential buyers is reduced.
I don't think they're really comparable at all. I worked many years at a high end Golf Club, and while a lot of members lived in the community, few of the on-course houses were owned by members. There's no appeal to a Golfer because he can't access Golf any faster than if he lived elsewhere in the neighborhood. He still has to go to the pro-shop and check in, get his clubs, etc...and start from the first tee. There's no additional maintenance anything like a pool, there's no liability like a pool.

The value is in an unobstructed, manicured, parkland view. The drawback is Golfers and errant shots, super debatable as to how much you'd hate it. Different strokes for different folks. Some of that can be estimated by looking at where the house is on a course.

Of course, the Golf Course may or may not be there forever.
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