In an article in this week’s Sarasota Herald Tribune, there is some positive real estate news coming out of The Founder’s Club. Caught in the timing of the 2005/2006 downturn, this upscale golf community suffered miserably and sales drew to a halt. Those who did purchase now find their homes/lots at roughly 50% of their former value. But, again…there is good news…7 homes have been sold since August by the in-house sales team, in addition to those bought and sold through traditional buyer/real estate agent transactions. Also, the golf club has 30 new golf and social members in the last two months thanks to incentives for new members.
Of the 252 home sites, some 124 homes have been built in The Founders Club since it opened in 2004. The remaining vacant lots are owned by a collection of builders, lenders, individuals and developers of The Founders Club. One of these builders, is John Cannon. “The deals are getting snapped up in there”, Cannon said. ” It is not going to take a huge turn in the market for people to start building out there again.” Cannon said the comparable communities in the region “are mostly built out or are in a holding pattern and are a half dozen years or more away from the point at which building can resume. Those kind of lots will be in demand in a certain amount of time because there are no other ( golf ) developments like that in Sarasota County.” Call me for a list of resale homes presently for sale…and to see first hand how prices have fallen some 50% in many cases.