 REAL ESTATE
Magazine rating Myrtle
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But, is that lofty ranking the whole picture?
The magazine culled data from the Longitudes Group and used criteria to rank 244 counties, like the number of highly ranked courses, playable days per year, cost of living, off-course diversions and more.
"The Grand Strand is literally jammed with great courses," the magazine said. "Seven make Golf Digest's best in-state rankings and an incredible 28 make carry player ratings of 4 1/2 stars or more in the best ?Places to Play' guide.
"This, plus the area's reasonable cost of living and its many playable days, gave Myrtle Beach the highest point total of all the communities we rated nationwide."
All true, but the magazine seems to have left out important recent developments, like the number of recent golf course closures, some of them leaving residents who bought golf course homes without golf courses.
Like when the owner of Colonial Charters Golf and Country Club announced plans to close all or a portion of the course to redevelopment.
"A lot of us are retirement age here," said Dee Weiss, a resident of Colonial Charters and a realtor. "They bought homes at a very reasonable price a few years ago. Where are they going to go now? Even if they sell that home at an appreciated value, everything else is appreciated, too.
"Where are they going to go now for the same price? They cannot do it. Consequently, we're all stuck. It doesn't look like there's much we can do about it."
The owner and residents eventually reached a compromise. Others have gone to court, like the Bay Tree Plantation residents, who fought when the course said it would close for redevelopment, and settled out of court
The Grand Strand was once home to more than 120 courses, but 14 have closed in the last few years, due to booming real estate values and the decline of golf industry profits.
Some of those golf course home owners are simply out of luck, and there are surely some to follow given the economic outlook. What guarantee do golf course home owners have that they will be looking out their windows at a golf course and not a condo development?
"Not much, unless it's written in the covenants," said Mark Bratt of Century 21's Coastal Carolina Lifestyles, a realtor in Myrtle Beach. "When I show people properties at Eastport (another golf club involved in litigation brought by residents), I tell them about it. Most will look elsewhere."
What to look (out) for
The magazine does list nine common mistakes, but none of them have anything to do with golf course closings.
Bratt and others said there are several factors to look for when buying a golf course home. The obvious one is to read the covenants carefully. Also, be aware that the new and larger master-planned developments are probably safer, in that golf courses are set aside as open space to satisfy zoning requirements. Some of the older golf communities were built before strict zoning laws.
Of course, homes along private courses may be the safest, since such large-scale changes must be approved by the members.
Those prospective buyers should also be aware that course-side homes are still relative bargains, though ocean-view condos are much easier to rent than course-side homes.
Some analysts say the current building boom in Myrtle Beach, partly the result of more baby boomers looking for coastal retirement areas, will in time face the same result that has befallen the golf industry because of the over-building of Grand Strand golf courses.
"They're building so many homes around here you aren't going to be able to move," Calabash Golf Links pro shop employee Lee Harrison said. "It's kind of interesting ? people move here for the golf and the weather, but at some point people are going to say, ?well heck, if they're going to close all those courses that we can afford to play, what's the sense?' You're between a rock and a hard place."
Black Bear