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Golf Real Estate OnLine News
For Immediate Release
February 2008

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In this issue
-- Golf Real Estate OnLine Welcomes Blackstone at Vistancia
-- When is The Best Time to Purchase a Home?
-- February PGA Tour Events
-- Home of the Month
-- Fun Sites for the Avid Golfer
-- The Golf Real Estate OnLine Library

Welcome to the February 2008 edition of Golf Real Estate OnLine News.

The information contained within Golf Real Estate OnLine News is designed to provide helpful information about Golf Real Estate, up-dates on our Communities of Distinction and new features on the Golf Real Estate OnLine site.

Click here for more information on the Golf Real Estate OnLine Communities!

Golf Real Estate OnLine Welcomes Blackstone at Vistancia
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Blackstone is located within the 7,100 acre award-winning masterplanned community of Vistancia in Peoria, Arizona, northwest of the Phoenix Scottsdale area and is a family-friendly private country club community with only 550 homesites.

Approximately 350 homes have already been created at Blackstone and offer rich designs and architectural features with floorplans ranging from 1,800 to over 5,000 square feet. In addition, there are 200 custom homesites ranging in size from one-half to over one acre. Many of these selected lots capture magnificent mountain and golf course views.

Blackstone Country Club features the private 18-hole championship golf course designed by Jim Engh, Golf Digest's first "Architect of the Year." Sheer rock faces, wildly undulating fairways and cavernous bunkers are among the many natural features that make the golf course at Blackstone so exciting. Thrilling mountain views and black volcanic rock indigenous to the area make the Blackstone golf course a visual delight.

Yardage at Blackstone ranges from the forward tees at 4,738 yards to the championship tees at 7,089 yards.

Click here to learn more about Blackstone at Vistancia!

Click here to receive additional information from Blackstone at Vistancia.


When is The Best Time to Purchase a Home?
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If You're Thinking of Buying a Second Home...
The Answer Is Now!

By Robert Whitley Partner with Currahee Partners, LLC

As the American population ages and becomes more affluent than ever in our history, more and more families that wanted to purchase a home as they were younger are realizing the American dream of buying a second home. Each day in the United States, about 10,000 people turn 50 years old... that's 39,000,000 over the next 10 years. Their children are probably out of college and out of the family home; their primary home has probably significantly appreciated; their mortgages are either paid off or very low compared to the existing value; and, they are probably earning more than they ever expected.

It is predicted that these Boomers will inherit over $40 billion over the next 35 years... the greatest transfer of wealth in the history of the world! As these Baby Boomers look ahead and see retirement age approaching, many begin to plan where and how they will retire and may look into the purchase of a home. Often, people think of buying a second home to use as a weekend getaway, a family vacation gathering place and a future retirement home.

It has been quite clearly established that most of those Boomers seeking to purchase a home of this type want to be within a four-hour drive from children and grandchildren and have access to golf, water, or mountains. Thanks to the Internet, a workplace that allows for telecommuting, and flex hours, more and more people are buying a second home that is just a little bit off the beaten path. Those that wish to purchase a home, possibly as a part of a private community with extra amenities, may be tempted to wait based on the current real estate market.

While prices are going down in some markets, they are certainly holding steady and are even rising in some master planned communities, especially in those that have a strong financial sponsorship and that offer extensive and well-planned amenities. The financial strength of a community's developer is critical when one is thinking of buying a second home in a community. Most large scale communities will see at least one, if not more, slow markets over the life of their development, so the developer must be strong enough to carry on until the market strengthens and more people are looking to purchase a home.

Low Interest Rates
Mortgage interest rates are at historic lows (5.45% for a fixed rate 30-year mortgage at the writing of this article) and, although they may continue to move somewhat lower, experience tells us that timing the market for the purchase of a home is difficult and risky. It would be hard to argue that buying a second home with a 30-year fixed rate mortgage below 5.50% is not an attractive purchase.

Inventory
Since the housing slowdown began, most builders have drastically reduced the number of new homes they are starting and, even with fewer people looking to purchase a home overall, there have been more sales than starts over the last 14 months. This means that the supply of new homes, both primary and secondary homes, is dropping. Since it takes many months, and in some markets, years, to get a project planned and approved by the appropriate governmental agencies, it is likely that demand will exceed supply at some time in the relatively near future. At that time, prices will begin to increase, rapidly in some communities, because demand will exceed supply, especially in well located and amenitized communities, something someone buying a second home needs to take into consideration.

Unique Land
Second homes are often found in communities that have been developed in natural settings. This adds an extra urgency to those who wish to purchase a home. Each home in a community is likely to be situated on a homesite that has its own particular properties - a view of a lake or mountain, for example, or a spot next to a golf course. Each lot will be unique, so if someone thinking of buying a second home likes what is offered, he or she will need to buy it immediately rather than waiting, because when it is sold, it is gone.

Buying a Second Home in Georgia
The state of Georgia is attracting particular interest from those who wish to purchase a home. For those considering retirement, either in the near future or in a few years, buying a second home in Georgia makes sense. In fact, in 2007, AARP: The Magazine named Atlanta as one of the top places to live for seniors, and Money Magazine has also recognized the state of Georgia as a top place in which to purchase a home and retire.

Where previously retirees thought of Florida as the place to settle down, now Georgia is becoming the state in which to purchase a home and retire. Georgia offers a more temperate climate than Florida, less congestion, much lower taxes and much less costly insurance. For these reasons and more, there are many new second home and active adult communities popping up just outside of Atlanta that are currently priced competitively and that offer great amenities that appeal to Baby Boomers interested in buying a second home.

Plus, many communities in Georgia offer the best of two worlds - they are situated in a natural setting near lakes and mountains, but they are also a short drive to major cities, such as Atlanta, for cultural and educational activities. This makes the choice to purchase a home in a Georgia community an ideal solution for someone who wants a home that can be used both before and after retirement. Buying a second home can mean that the owner has a weekend retreat, an office to be used while telecommuting, or a full-time getaway.

Since Georgia is still somewhat up-and-coming for retirees and those buying a second home, however, it is the perfect time for someone interested in one of the communities to purchase a home. There are still many homes available in prime locations across the state, but these will surely be snapped up quickly in the near future. Rather than wait, it is advised that interested parties buy now.

Conclusion
While it can be true that waiting to purchase a home is the right strategy in some instances, it is not the case when one is buying a second home in a planned community. Unlike other types of property, these homes are not likely to drop in price. In addition, this kind of second home is often built on a unique lot of land, meaning that prospective buyers need to buy what they like when they see it. In the end, the best advice that can be given to someone looking into buying a second home is to act now and to start enjoying a dream home today.

About the Author
Bob Whitley is a partner with Currahee Partners, LLC, the developer of Currahee Club, a 1,215 acre, single-family gated mountain community in Toccoa, Georgia, offering Lake Hartwell lakefront property. Whitley draws on previous successes on notable properties such as Jack Nicklaus's home course, The Bear's Club in Palm Beach County, Florida; The Ritz-Carlton Golf & Spa in Jupiter, Florida; Colleton River Plantation near Hilton Head; and the Piedmont Driving Club in Atlanta. For more information about the Currahee Club development, please visit the Currahee Community profile pages on on Golf Real Estate OnLine or www.curraheeclub.com.


February PGA Tour Events
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Jan. 28- Feb. 3
FBR Open
TPC Scottsdale, Scottsdale, AZ
Televised by The Golf Channel and CBS

Feb. 07 - 10
AT&T Pebble Beach National Pro-Am
Pebble Beach Golf Links, Pebble Beach, CA
Poppy Hills, Pebble Beach, CA
Spyglass Hill GC, Pebble Beach, CA
Televised by The Golf Channel and CBS

Feb. 14 - 17
Northern Trust Open
Riviera CC, Pacific Palisades, CA
Televised by The Golf Channel and CBS

Feb. 20 - 24
World Golf Championships-Accenture Match Play Championship
The Gallery at Dove Mountain, Tucson, AZ
Televised by The Golf Channel and NBC

Feb. 21 - 24
Mayakoba Golf Classic at Riviera Maya-Cancun
El Camaleon, Riviera Maya, Mexico
Televised by The Golf Channel

Feb. 28 - March 02
The Honda Classic
PGA National Champion Course, Palm Beach Gardens, FL
Televised by The Golf Channel and NBC

For a full list of 2008 PGA Tour Events, go to www.pgatour.com


Home of the Month
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Beautiful home at Currahee

199 Edgewater Trail in Currahee Club- Toccoa, Georgia-built by Benchcraft Homes Approximately 5800 sq. feet, this 4 bedroom, 4 bath home features exposed beams, a study or optional 5th bedroom, screened porch, 2 car garage, expansive rear deck, 2 downstairs bedroom suites, large covered porch, activity room, multiple storage areas and custom wet bar.

A must see, fully furnished for only $1,750,000. Contact Carol Rich at 404-814-1330.


Fun Sites for the Avid Golfer
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Eyespygolf.com. A directory of over 16,000 golf courses. Is your favorite course included?

AND be sure to check out...19thhole.com
Now you can amerce yourself in the game-rain or shine. Enjoy!

Need a great golf gift?
Be sure to visit the Golf Real Estate OnLine Affiliates page!

New sites are added continually!


The Golf Real Estate OnLine Library
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Also, be sure to visit The Library today!

We've started a list of our favorite golf titles. We've also given you the opportunity to purchase these books from Amazon.com

Check The Library regularly for new additions.