Ron "The Bear" Barakett

Bundle Golf

ORIGINATION
The prototype for this uniquely Southwest Florida Planned Urban Community (PUD) was Kelly Greens in Fort Myers, Florida back in the mid 1980’s. The Golf Course and Clubhouse and pools and other amenities belong to the Homeowners Association. There are no dues, only maintenance fees that range from $3800 to $4300 annually.

COMPONENTS
There are usually 4 or 5 residential products offered, starting with

1. Higher density condominiums with elevators, approximately 30 or more units per building
2. Walkup condominiums with attached or detached garages(Carriage Homes or Verandas, depending on the developer)
3. Lower density Coach Homes (4 plex) or duplex again depending on the developers plans
4. Detached homes called Villas or Executive Homes
5. Larger homes referred to as Estate Homes

DENSITY/DEMAND
The distribution is approximately 800 units (front doors) per 18 holes of golf comprising a mix of the 5 product lines. A good balance would consist of 5% of the units on the market at any one time. If the distribution is proportional to the original mix, prices tend to be stable within the community so long as the price per square foot is not dramatically out of line with other similar Bundled Communities.

There is a free weekly report that provides all the information needed to evaluate market conditions. Go to www.MLSofNaples.com to subscribe for this FREE Report.

Ron@AskTheBear.com