This search
engine will give you the ability to find current resale properties in
planned golf course communtities in the Naples-Bonita area. New construction
opportunities exist in many of these communities but is not in the NABOR*
database. Bundled?
Equity?: Learn more about the differences in Bundled and
Equity golf membership types in the Online Article: "Naples/Bonita
Golf" by Larry Halpin. Click here to read.
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GOLF
MEMBERSHIP TYPES
There is a full written explanation below the "Comparison Chart"
below
Comparison Chart
| Factor |
Equity
Membership |
Bundled
Membership |
| Initiations |
Voluntary
Application |
Tied
together to Title to Property |
| Cost
of Initiation |
Can
be anywhere between approximately
$35,000 - $250,000 |
$0.00 |
| Upon
Resignation, what happens to $$'s paid in for Initiations? |
Will
vary based on Club Policy. In most cases, a significant % of the prevailing
rate will be returned. This is different from the typical 'Northern'
Policy. |
Tied
together to Title to Property and passes automatically to the new
owner at closing. |
Number
of Members
per 18 holes |
Can
vary between 225 - 400
The lower the number ... $$$ |
Given
- Every front door is a full member ... but not all play golf. #'s
will vary between about
560 - 844 front doors / 18 holes. |
| Annual
Dues |
Will
vary from about $5000 - $10,000+ / year + Sales Tax! The lower the
# of memberships, the higher the dues. |
Divided
by the number of front doors. Typically, dues will run from about
$1600 - $2500 a year. |
| Food
& Beverage Minimums |
Rarely,
but when they do exist, they will approximate $900
|
Rarely,
but when they do exist, they will approximate $900. |
| Why
F & B Minimums ? |
Because,
so often club owners are 'seasonal' and the club needs average monthly
cash flows to maintain high levels of quality service. |
| Advantages
- Disadvantages |
Ease
of tee times versus Cost |
Affordability
versus possible difficult tee times in season. |
| 'TENANT'
Policy |
Rarely
transferable. If you do rent, chances are the Tenant is building and
has already joined. |
Almost
always transferable at a cost of about $100 transfer fee paid by the
Tenant. |
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or read the entire article below...
Full
Article
This is a detailed explanation of golf memberships in the Naples area.
But by the time you are finished, you will have a good knowledge of how
it works.
The Naples area has more golf courses per capita than any other area in
the US. I am going to take liberty here and add Bonita to the Naples area.
It would seem that almost all major communities, and even some small ones,
have at least one golf course. It can be expensive but it can also be
very affordable. Affordable versus Expensive both have their pluses and
minuses. But there is something for everyone.
There are four types of golf courses: (1) Public,
(2) Bundled, (3) Equity and
(4) Your Favorite. Bundled is a form of equity
but for sake of definition, I will keep them separate.
(1) PUBLIC
Public is just what it means. Everyone understands the term. The course
is open to everyone. Players pay a greens fee and cart fee, which are
normally put together as one fee. Greens fees change with the time of
year, with higher rates in Season ... those months being January - April.
(2) BUNDLED
Summary: Membership bundled together with Title to the property,
requiring no initiation fee and annual dues of Between $1600 - $2500 per
year. Every front door in the community is a full member. Average number
of front doors will be around 800 in each community. Some more ... and
some less.
Looking at the $-numbers, Bundled is much less expensive than Equity golf.
Bundled is a form of equity. If you live in a bundled golf community,
your full membership privileges are 'bundled' together with Title to the
property and automatically pass to the new owner at closing without any
initiation fee. Every 'front door' is a full member with equal rights
to that 8 AM tee time. Typically, there are about 800 front doors in each
bundled golf community. (By Comparison, an Equity course would limit the
size of the full membership up to maximum of about 375.) Golfers would
pay only a cart fee to play golf. However, not everyone plays golf. A
bundled club would include a major golf course, club house, pro shop,
restaurant, fitness center, club pool, etc. Each 'front door' or owner
will pay annual dues which cover the annual Operations and Maintenance
of the club facility. Typically, annual dues will fall into a price range
of between $1600 - $2600 a year and most do not have food or beverage
minimums. And even if there was a minimum, it might be in the range of
$1000 a year, which is not a difficult price level. The annual dues are
over and above the condo maintenance fees or home owner association fees.
Bundled communities make for easy rental income as tenants can assume
the full rights and privileges as if they were the owners / members by
paying a Transfer fee of about $100 for the time period they are in residence.
The positive side of bundled golf is that it is affordable. Nothing comes
without a cost. You may not pay an initiation fee but the cost of that
initiation is buried in the price of the residence. It is still very affordable.
Some communities have residences that sell in the range of the low $100's.
The down side to bundled golf is that with so many front doors, getting
a tee time can prove to be somewhat difficult during Season. Tee times
are assigned by computer system.
3. EQUITY
Summary: Membership is by individual application requiring a sizable
initiation fee, most or all of which will be returned to you upon resignation.
Memberships are capped out at from 225 - about 375 per 18 holes with the
lower number of members / club requiring greater initiation fees as would
be expected. Annual dues may be in excess of $5000 as annual O&M is
divided between fewer members (than bundled). Getting tee times is not
the problem that can be encountered with a Bundled community.
From the starting gate, Equity is a different situation fropm Bundled
golf. But it is handled very differently from the cost of an equity membership
in the north. Up north, you pay a sizeable initiation fee to join a club
and you 'kissitgoodby'. There is rarely a refund when you resign that
northern membership. Major clubs in the Naples area will also have a sizeable
initiation fee. However, as people frequently move from one community
to another in the Naples area, Equity initiation fees are refundable.
The timeframe in which you are refunded can vary from 'immediately' to
a ratio of 4:1 ... meaning for every four new members, one outgoing member
is refunded. As membership caps are maxed out, this ratio lowers. Depending
on the maturity of the club ... maturity meaning, is the Developer still
in control of the club or has it been turned over to the membership ...
the resigning member may get back a (a) percentage of what was paid for
initiation, (b) a 100% refund of what was paid or (c) a percentage of
the prevailing rate, not to be less than a or b, depending on the rules
and regulations. While a Bundled club might have 800 'front doors' as
full members, an Equity club will typically have up to about 350 - 375
full members. As there are fewer members, it is far easier to 'walk-on
and get a tee time. In some cases, the number of full Equity members will
be much lower than 375, as in 225, but the costs will be much higher.
(Someone has to pay the expenses !) Initiation fees might range from $40,000
to as high as $250,000 ! As there are fewer Equity members than in a Bundled
club, annual dues will likewise be higher. Annual Dues may run from about
$5000 upwards. A percentage of the Equity clubs will have more than one
golf course with a limit on the number of members per 18 holes. The majority
of the clubs will require residence in that specific community. There
are exceptions to this requirement.
(4) YOUR FAVORITE
Is the one you are playing 'today'!!!
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SEARCH
ENGINE
You
will find this search engine to be a multiple faceted search engine and
easy to use. When you see the properties on-line, 'if' there are photos,
you will see them. They are marked in the search results with a camera
icon: .
1.) Listings will always be displayed in ascending order ... (low to high).
2.) This search page will provide all current active GOLF
listings in the Naples / Bonita area listed on the NABOR (Naples area)
MLS system.
3. ) You may choose Bundled, Equity
or Any which includes Public.
4.) Don't want to use a search engine or don't know the area well enough
to select a community but want information? Click
here to go to a 'Requesting Information' form and I'll help you personally!
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COMMON
TERMS
"Reciprocity"
- a new term to the Realtor community. Reciprocity is a most important
factor employed in the use of this search engine. When your Realtor checks
their MLS data base, they have access to all property information. In
the past, a Realtor could only show on the Internet properties which were
actually their own listings. When Reciprocity came in to being, with the
consent of individual owners of property, we could make available all
(*) properties to the Internet and identify the name of the listing broker.
(*) If for some reason, the owner of a property does not wish to have
the listing agent share the data by way of the Reciprocity guidelines,
the data on that property will not be shown on-line but only in the MLS
data base. The manner in which data is provided is dictated by the Naples
Area Board of Realtors. It is not being manipulated in any way by this
web search engine. When you use this search engine, you will be viewing
all properties meeting your search criteria as long as the data is available.
It is important to note that it is not possible to show all data on a
particular property but you will have excellent summary material. Additionally,
the data shown is the data provided by the actual listing agent to the
MLS system. I cannot guarantee the accuracy of the material. If there
is a photo (or photos), it is because the listing agent provided that
material. If no photographic information is shown, either the data is
too new and the listing agent hasn't had time to provide the photo(s)
to the system or, for whatever reason, the listing agent chose not to
include visual information. New listings and photos are included into the reciprocity system once per week.
Information is deemed reliable but subject to change without notice. The accuracy of
information cannot be guaranteed. The same applies to Virtual Tours. If you
are disappointed that more data is not provided, please understand that
the amount of information provided is a huge advance in our abilities
to provide you with data specific to a particular property. Besides, that
gives you excellent reason to ask
me for assistance !!!
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"My
Property Selections"
- When you find a property of interest to you, you can place that property
or multiple properties in a "property basket" and forward it
directly to me. I can then send you complete MLS data on all of the homes
you have chosen.
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"NABOR"
- Naples Area Board of Realtors
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General
information regarding the data as it is presented
through this search engine
I cannot guarantee the accuracy of the material. If there is a photo (or
photos), it is because the listing agent provided that material. If no
photographic information is shown, either the data is too new and the
listing agent hasn't had time to provide the photo(s) to the system or,
for whatever reason, the listing agent chose not to include visual information.
The same applies to Virtual Tours. When viewing map locations, keep in
mind that the map locations are only accurate if the listing agent has
taken the time to make it accurate. If you are disappointed that more
data is not provided, please understand that the amount of information
provided is a huge advance in our abilities to provide you with data specific
to a particular property. Besides, that gives you excellent reason to
ask me for assistance !!!
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Copyright 1998-2003 Larry Halpin. All Rights Reserved.
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