Scott, I lived in Timberlake for 20 years and live in a neighborhood next to Timberlake now. I am a member of Timberlake Country Club which is now an equity membership club - is semi private - there is still public play and the clubhouse/pool/tennis are under construction. The club when completed will generate a lot of excitement and boost sales. The new home you are referring to - is it on the water or on the golf course? Waterfront property has held value better than interior/golf properties where there is a lot of inventory.

Kit Oswald, Broker
The Lake Murray Specialists
Coldwell Banker United
kitoswald@lakemurrayspecialist.co
803.917.0168

Scott,

As a former golf course supt. I can tell you that the homeowners cannot mandate you to become a member of the golf club just because you live there.

Taking the club private would be a good thing as opposed to having a management company come in and micro manage the course on a tiny budget. I does take a lot of money to operate the golf course so having a strong membership is key. This is why they are charging the 10K initiation fee. Go to the clubhouse and speak with the General Manager he can answer some questions you may have and then get the names of a few long time members of the club.

As far as offering 10% below list on a home you should find out what other homes have sold for over the past year that are similar to the one you are considering. If the home is already priced to sell this would be quite an insult. If you have an agent then get them to prepare a buyer CMA for you to key you in on property values in the community.

If the homeowners purchase the course and mandate that all homeowners become members, it will hinder the sale of homes to anyone not intereted in golf. I am assuming that the $10,000 is a onetime fee and then a yearly fee would be charged after that time.

If you are considering purchasing there, I would recommend that you talk directly to the head of the Home Owners Association and see if golf membership is a mandatory requirement.

Not at all. Depending on the market, available inventory and length of time on the market, you might even go lower. In the current real estate market, I would not be shy when making an offer. You can always come up.

Changing the status of the course will hurt initially, but should prove to be a benefit down the road if the course, amenities and number of members is in line for a one course club.

Too many unanswered questions to give you a carved in stone answer.

Bill Brannon, Hilton Head Island, SC