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What is the zoning of the golf course and how easy is it to change? That will be the biggest issue. In our area (Maryland outside DC) it is almost impossible to get the zoning changed from Open Space (what most golf courses are) to residential, especially the higher densities. And there is also water and sewer availability/capacity that would have to be addressed. Rumors abound when any large tract of land seems to have cashflow problems and starts falling into disuse/disrepair but reality is often much slower to appear.
I think it's California due to the San Jacinto Mountains reference.
Wanna bet their open space/water and sewer requirements are even more stringent than ours are?
I would think that the closure of the golf course would have a negative impact on the housing values. Those types of developments usually have a pretty hefty premium for being "on a golf course".
If it were me, I would move on to another property. You have no way of knowing what could end up being built there if the golf course goes out of business. It could get rezoned retail, commercial or even industrial.
It is highly likely that if the golf course goes out of business it would take many years for the lot to be redeveloped. In the meantime you could end up spending many years living next to a neglected property full of weeds and overgrown brush that could attract lots of nuisance wildlife, homeless people, and teenage kids looking to party. In CA especially, it could also become a serious fire hazard.
If it were me, I would move on to another property. You have no way of knowing what could end up being built there if the golf course goes out of business. It could get rezoned retail, commercial or even industrial.
Even if nothing is built there for a long time, if the golf course goes out of business you could end up spending many years living next to a neglected property full of weeds and overgrown brush that could attract lots of nuisance wildlife, homeless people, and teenage kids looking to party. In CA especially, it could also become a serious fire hazard.
What is the zoning of the golf course and how easy is it to change? That will be the biggest issue. In our area (Maryland outside DC) it is almost impossible to get the zoning changed from Open Space (what most golf courses are) to residential, especially the higher densities. And there is also water and sewer availability/capacity that would have to be addressed. Rumors abound when any large tract of land seems to have cashflow problems and starts falling into disuse/disrepair but reality is often much slower to appear.
Definitely not zoned for housing. I'm told it would need city, county and Fed approval too before they could put up homes there. But asking the seller for a discount seems a reasonable thing to do. So far, its days on market is still on the low side. May need to be patient for another 60 days and see if it has sold. The seller knows i'll take it for $25K less than listing.
Thank you everyone for your helpful replies. You're all terrific!!
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