Greetings Bobcatters,
On behalf of our team at Charlotte Harbor National Golf Club, SKYiGOLF, Ellen, the boys, and myself, we would like to wish you and your family a very Happy Thanksgiving and a wonderful holiday season.
Behind the scenes and usually from one of our three offices, in addition to working the total plan across all companies as well as here at Charlotte Harbor National Golf Club, we also keep track of key performance indicators, not only as it affects any of our businesses, but the people and entities we affect directly or indirectly by our collective efforts in our golf spaces. We do this for many reasons. One key reason that is important to me being a thirty plus year veteran of the golf industry who cares deeply about this game and the health of the industry is to share with my fellow industry professionals' measurable results from our efforts. Some of the decisions we approve are not the industry normal of the last decade, in fact quite the opposite to current conventional thinking. Sharing our general findings in the industry will show others that may be gun-shy, that investment and doing something that is not industry normal is not always a bad thing, in fact it does produce results. The golf industry is ready and needs a very large paradigm shift to stay relevant and progress, and this is why we started SKYiGOLF. Another important reason we do this is our belief and subsequently our actions since arriving, is that community is important. Not just memberships in the golf course, but the community and subsections of the community that have overlapping interests regardless of engagement levels. The larger community beyond our walls and fences is important to us too, which is why we go to such great lengths to support the Folds of Honor and will continue to do such long into the future.
With all that said, we would like to share with the community of Bobcat Trail, one key performance indicator that we watch (of many). Prior to executing our purchase of Bobcat Trail Golf Club (now Charlotte Harbor National Golf Club), June 2017, our team created our own inventory list for this community, including every residence, CDD Property, and Golf Course assets, so we would have a total environment picture. This inventory list included current home/property values based on reliable real estate industry sources pre-our purchase, as well as total tax base to support our community infrastructure and services. These metrics or performance indicators are important as the Golf Course, the community, and individuals should have this information for making decisions and or telling your or our story.
CONDITIONS
Some things to note or consider while looking at this informational update.
- Real Estate Markets in general are cyclical in nature. There are buyers' markets to certain degrees and there are sellers' markets to certain degrees.
- Real Estate Markets are susceptible to overall economic conditions of regions and the United States.
- Generally speaking, the greater area of Charlotte Harbor and the Gulf Islands Region of Florida has had a stable Real Estate Market for about four and a half years, with increasing property values for comparable resales.
- Generally speaking, current real estate market for our region is leaning towards a sellers' market.
- Gated Golf Course Communities in Florida with good club conditions have an edge in the market place against non-golf properties for a specific percentage of the population seeking a new residence. Florida averages 1000 people or more moving to the State on a daily basis.
PRIOR
Prior to our purchase of the golf club.
- Just slightly over 60 Members (all categories) of the golf club.
- Total Value of Bobcat Trail $205,880,865 (Golf Club, Residences, Open Lots, CDD Property)
CURRENT
Current indicators.
- Over 230 Members (all categories) of the golf club.
- In the last 12 months (as of November 21, 2018) there has been 32 resales of single-family residences in our community.
- Real Estate resale transactions for this period totals $10,264,375.
- Of the 32 sales, three were foreclosure sales and were removed in calculating averages.
- The three foreclosure sales totaled $543,000 in transactions.
- Average transacted sale price for non-foreclosures was $335,219.
- An average increase of value based on transactions against previous home value was $27,254.
- The average value increase in single-family residences based on last 12 months sales is 8.1% for our community.
- The Charlotte Harbor & Gulf Islands Region of Florida over the past 12 months has seen an average value increase in single-family residences of 1.08%.
- The community's average percentage increase is 7.02% above the regions average increase.
- Total Value of Bobcat Trail $222,256,280 (Golf Club, Residences, Open Lots, CDD Property) based on average percentage increase in value change of resales last 12 months.
- This reflects a total net gain in value in 16 months of $16,676,280.
- Annualized turn rate of single-family residences of 5.8%.
SUMMARY
We would like to think that our efforts at the Golf Club have had an impact to at least a certain degree on above facts. Regardless of extrapolations, we will continue to work our long-term strategic plan (5 Years) for making the Golf Club all that exists in our long vision, for everyone's benefit. We will also continue to work on our strategic plan with SKYiGOLF to help the overall golf industry, and we will continue our work to support the Folds of Honor. We wish to thank all of you for your support over the last 16 months since we arrived and be rest assured that we will continue our efforts with the club, and for the greater good of our community, inside and outside our fence lines.
Thank you all for being a positive part of our larger community, and again on behalf of all of us wishing you a very Happy Thanksgiving and a wonderful holiday season.
Rich Smith, PGA
Chairman
Charlotte Harbor National Golf Club
at Bobcat Trail
The Golf Links of Charlotte Harbor
Club Phone National: 941-429-0500
Club Phone Links: 941-625-4109
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