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Golf Course Closings Never More?

Golf Cart A few years ago, when real estate was selling at an unbelievable pace and record prices were being recorded, golf course owners in Myrtle Beach decided to get in on the boom. In order to exact more money from their parcel of land than a few rounds of golf could generate, they closed the course and sold it for a big profit to real estate developers. Hundreds of new homes, condos, and townhomes, were on the horizon.

Sixteen area courses were sold for redevelopment in 2005 and 2006. However, the business climate has changed and the sales have all but ceased. The incentive to close any more courses has been eliminated with the backlog of thousands of condos and homes now on the market in 2007.

The overall affect of the closings is not all bad. The remaining 100 plus courses have seen an uptake in play and have actually realized a nice profit this year. The prediction is that the dismantling of golf courses in Myrtle Beach is over.

So if you are looking for an amazing selection of golf courses in one single area, pack your clubs and come on down. Your golf cart is waiting.

Posted by Linda M. Cataldo - Myrtle Beach Real Estate on 10/28/2007 01:58 PM

Comments (3)

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3 Comments on Golf Course Closings Never More?

It is over now, but you will see it come back. Land is getting more and more unavailble, and the business approach of "Highest and Best Use" comes into play. These owners are in it for the money not the love. It's a business and they are in the business of making money. It is hard for the course to do that with all the competition and the tax increases over the years not to mention the big one we are about to face. I think that alone will cause a few more to bite the dust.

10/29/2007 11:16 AM

by Brandon Causey Realtor Coastal Palmetto Realty LLC (Coastal Palmetto Realty LLC)

10/29/2007 11:16 AM

by Brandon Causey Realtor Coastal Palmetto Realty LLC (Coastal Palmetto Realty LLC)

Hi Linda,
One's loss, another's gain. That is how it works.

10/30/2007 08:54 PM

by Cynthia Tilghman, Realtor® Onslow County NC Home Specialist (Kingsbridge Realty, Inc)