(1888PressRelease)
February 11, 2009 - Private Communities Newswire - One reason it's hard to get your hands around properties in destination amenity communities is that they vary so widely.
Some are small, 100-acre enclaves, while others are sprawling, 35,000-acre titans. Some are being developed by major, well-known companies and communities like Bluegreen's (NYSE:BXG) Chapel Ridge and Mystic Shores at Canyon Lake, but others are being built by golf fanatics who made their fortunes in other businesses. And while most are high-end communities, some offer homes at many price points.
Another reason it's tough to define these often low-visibility venues is that, because they are privately developed, no one knows for sure exactly how many there are. Even the Urban Land Institute, a leader in the responsible use of land worldwide, can't offer an accurate count.
The types of buyers that these private communities attract sometimes take years to make up their minds. Discerning buyers who favor private communities tend to focus on the community's amenities and social
opportunities before they ever consider price.
"It's a different buy altogether," says Miller-Fox, who co-launched privatecommunities.com with partner Marie Roberts in 1996 to help buyers find vacation, retirement, and second homes. "It's really complex, and often the house is the last decision they make. First, they buy into the community, the club, the amenities, the lifestyle, then the house."
And that get's us back to perhaps the only way real way to define these properties, which are often amenity-laden places with a society all their own. Some are targeted toward the water, some are aimed at golfers, some are for horsemen. But whatever the stated purpose, you can bet the farm there is something for everyone.
###
