What is happening to memberships in the golf country clubs?
The majority of the buyers who want to buy homes or condos in golf country clubs are now pleasantly surprised. The access to golf with NO initiation fees or low initiation membership cost was until now limiting me when searching for homes for my buyers. Only less than 6 in our whole valley entered that category.
The buyers ready to pay for the homes (affordable today) where staying shy away from the a lot of them because of the membership initiation cost and those prestigious country clubs got into financial trouble : not only they did not get the new memberships but they were losing the potential “spenders” at the restaurants, the golf tees fees etc… It was a LOSS LOSS situation since the beginning of this economy turn.
Finally they GOT it and a good number of great country clubs have not only lowered their membership and some of them are even waiving them if you buy a home within the country club. This is great news and opens up a lot of possibilities for the buyers interested in golf country clubs.