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21 NOV

Country Club Community sales are hot! There are several reasons for that.

By Jeff Echo

Country Club Community sales are hot!  There are several reasons for that.

  1. Single family home sales have been sizzling, especially since Covid, and most country club properties are single family homes or coach homes/townhomes. Sales in Admirals Cove for example are through the Roof. Jan 1 2019 – Nov 1, 2019 was 57 sales.  Jan 1 2020 – Nov 2020 was 87 sales.
  1. Gated Communities with 24-hour security. People love the feeling of security and even more so with the pandemic.
  1. Amenities. Whether it’s delivering toilet paper or keeping the community more Covid free, communities that have amenities are higher in demand. Clubs also offer everything from golf to tennis/pickleball to boating to social activities. Each one is different. There are tons of good choices. It’s just the differences of which one is the best fit. And like choosing a vacation between Paris or London, there are several good choices.
  1. Camaraderie. People move to Florida and may be going though lifestyle changes  (like a empty nester syndrome) or are moving anew and don’t have a friend/family structure.
  1. Supply. There hasn’t been a club community built in over a decade. Mirasol, Frenchman’s Reserve, Jupiter Country Club, Old Palm, and Ibis all got caught in the Big Short market of 2006-2011 with new inventory builder specs, investor speculation flips, and a deep recession market with high unemployment which led to foreclosure and short sales.  Clubs also at the same time didn’t lower dues and initiation fees. And many doubled down on needed improvements that increased costs, which helped in the long run.

 

Most clubs made the capital contributions to stay relevant (everything from updating Gyms to Game Rooms to Lifestyle Casual Outdoor Dining). And the supply of homes has stayed the same in the last decade, but a giant increase in population shift to the Palm Beaches has increased demand. This has put clubs in a great position.

Most of the clubs based in Jupiter and Palm Beach Gardens have mandatory membership that is tied to purchasing the home.

Bears Club and Trump National take outside members and membership is not tied to the house.  PGA National and Jonathan’s Landing don’t have mandatory memberships either and one can be an outside member. Admirals Cove , Eastpointe, BallenIsles, Frenchman’s Creek, Frenchman’s Reserve , Ibis, Jupiter Country Club, Mirasol,  Old Marsh, Old Palm all have different amenities price points, home amounts, dues, and fees. There are also good clubs in Tequesta, North Palm Beach and in the Southern portion of the County.

Our Country Club Cost Comparison page gives you one place to look at all the club dues, fees, data, interactive video stories on each club, and links to see all the homes for sale, past solds and hyper-local information you need to learn and make decisions.

Jeff Lichtenstein is owner and broker of Echo Fine Properties, a luxury real estate brokerage selling real estate in Jupiter  and homes in Palm Beach Gardens, Florida. He has 20 years of real estate experience, has closed over a 1,000 transactions, and manages over 50 agents in a non-traditional model of real estate that mimics a traditional business model.  Some publications he has been quoted in.

Feel free to ask him a question directly at jeff@EchoFineProperties.com.

Posted in Uncategorized on November 21, 2020 at 8:33 am.

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