Now this is an interesting auction. No golf homes for sale – an honest to goodness’ private golf course is being auctioned off 23rd October in Wisconsin. The credit crunch continues to strike the wealthy and this private golf course is reluctantly being put up for auction at a considerable discount.

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The partially completed Momi Resort development in Fiji will go up for mortgagee auction on July 22nd

The Fiji National Provident Fund (FNPF) has appointed Bayleys Real Estate to handle the sale of the first stage of the development which encompasses more than 350 residential luxury homes sites, a partially completed nine-hole golf course, golf clubhouse, and hotel complex after the developers were unable to refinance.

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Luxury Hotel that never was

Another part finished luxury golf development is facing financial issues. Harbor Station in Virginia. All I can say is it is about time the Federal reserve printed some more money or we are going to see more of these things collapse.  A few county authorities sensibly refused to allow golf courses to be built until after the residential development was completed, but Prince William County apparently needed the backsheesh and the first part completed was the Jack Nicklaus-designed golf course which was to be followed by 4,000+ McMansions and the usual conference center, luxury hotel etc.

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The Cliffs, a luxury golf development near in High Carolina near Asheville is suffering from the slowdown in golf community sales. We have covered a number of similar developments recently and many are running into difficulties, including the Cherokee Run Country Club in Georgia, and the Laurel Cove in Tennessee. Relatively speaking, I feel The Cliffs is one of the stronger developments, but they are still facing the same issue as the rest of the industry.

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Concierge Auctions will conduct a luxury real estate auction of a 5,590 square-foot home in the exclusive golf and country club community of Isleworth near Orlando, Florida on April 4.

Located at 9815 Laurel Valley Drive, the property was originally listed for $3.495 million and then reduced to $1.75 million, but has failed to sell. The two-story, Mediterranean-style home contains five bedrooms and five baths. It includes an elegant foyer with marble flooring, two bedroom suites, a theater, pool, sauna and outdoor lanai, as well as a library and wine storage area. There is also a detached guest suite with a private garage entrance.

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The Tiger Woods Dubai today announced that it has successfully completed bulk earth works at the 55 million sq. ft. golf community development, enabling the project to progress to the next phase of construction. All remaining bulk earth works are now complete on the road network, commercial buildings, residential plots and Al Ruwaya Golf Course. This is Tiger Woods Design’s first project, and is quite staggering in scale, although some (myself included) wonder at the sustainability of creating a fake environment of this scale in the desert.  I imagine working in sand has made the earth moving process a little easier and they have managed to achieve some dramatic typography, with elevations reaching 78 meters above sea level, including a difference of 29 meters between the lowest point, the lakes, and the highest point.

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