[clearfund]

Huckle – Typically her only recourse is to cancel the sale for non-performance (after issuing the proper notices to perform, of course) and demand the escrow deposit as compensation. Likely her contract says that the deposit amount is her full liquidated damages.

Or she can ask/negotiate for compensation and keep on with it, but the buyer’s are likely under no obligation. It is her decision to fish, or cut bait.

[clearfund]

Huckle – Typically her only recourse is to cancel the sale for non-performance (after issuing the proper notices to perform, of course) and demand the escrow deposit as compensation. Likely her contract says that the deposit amount is her full liquidated damages.

Or she can ask/negotiate for compensation and keep on with it, but the buyer’s are likely under no obligation. It is her decision to fish, or cut bait.

[clearfund]

Huckle – Typically her only recourse is to cancel the sale for non-performance (after issuing the proper notices to perform, of course) and demand the escrow deposit as compensation. Likely her contract says that the deposit amount is her full liquidated damages.

Or she can ask/negotiate for compensation and keep on with it, but the buyer’s are likely under no obligation. It is her decision to fish, or cut bait.

[clearfund]

I cannot see any likely situation where accelerating inflation (due to printed $$$, not due to increased productivity) is avoidable. Not too sure about ‘hyperinflation’, but highly accelerating for sure.

Its like the tide coming in, nothing can be done to stop it.

[clearfund]

I cannot see any likely situation where accelerating inflation (due to printed $$$, not due to increased productivity) is avoidable. Not too sure about ‘hyperinflation’, but highly accelerating for sure.

Its like the tide coming in, nothing can be done to stop it.

[clearfund]

I cannot see any likely situation where accelerating inflation (due to printed $$$, not due to increased productivity) is avoidable. Not too sure about ‘hyperinflation’, but highly accelerating for sure.

Its like the tide coming in, nothing can be done to stop it.

[clearfund]

I cannot see any likely situation where accelerating inflation (due to printed $$$, not due to increased productivity) is avoidable. Not too sure about ‘hyperinflation’, but highly accelerating for sure.

Its like the tide coming in, nothing can be done to stop it.

[clearfund]

I cannot see any likely situation where accelerating inflation (due to printed $$$, not due to increased productivity) is avoidable. Not too sure about ‘hyperinflation’, but highly accelerating for sure.

Its like the tide coming in, nothing can be done to stop it.

[clearfund]

EconProf – You are correct except for one distinction. The developer who planned/executed between 199-2005 sold 100% of their real estate product at/above their expectations and made a killing. They are out, have their cash, and don’t give a whit about what has happened since.

All the unbuilt lots are owned by individuals who purchased them from the developer (or 2nd/3rd generation resales). Developer got out before the crash. Beautifully executed real estate play on their part. come to CA, sell, get out. Stick a big mello-roos on the property which reduced their capital risk. Home run for them.

Yes, they still own many golf memberships, but their basis is essentially zero since they got a massive portion of their money out of the club/course property already.

Lastly, in a private club scenario you don’t need marginal users as your monthly membership fees should cover expenses. Usage fees & food/bev profits are likely minor relative to the $1,100/mo base golf dues whether you show up and play or not.

[clearfund]

EconProf – You are correct except for one distinction. The developer who planned/executed between 199-2005 sold 100% of their real estate product at/above their expectations and made a killing. They are out, have their cash, and don’t give a whit about what has happened since.

All the unbuilt lots are owned by individuals who purchased them from the developer (or 2nd/3rd generation resales). Developer got out before the crash. Beautifully executed real estate play on their part. come to CA, sell, get out. Stick a big mello-roos on the property which reduced their capital risk. Home run for them.

Yes, they still own many golf memberships, but their basis is essentially zero since they got a massive portion of their money out of the club/course property already.

Lastly, in a private club scenario you don’t need marginal users as your monthly membership fees should cover expenses. Usage fees & food/bev profits are likely minor relative to the $1,100/mo base golf dues whether you show up and play or not.

[clearfund]

EconProf – You are correct except for one distinction. The developer who planned/executed between 199-2005 sold 100% of their real estate product at/above their expectations and made a killing. They are out, have their cash, and don’t give a whit about what has happened since.

All the unbuilt lots are owned by individuals who purchased them from the developer (or 2nd/3rd generation resales). Developer got out before the crash. Beautifully executed real estate play on their part. come to CA, sell, get out. Stick a big mello-roos on the property which reduced their capital risk. Home run for them.

Yes, they still own many golf memberships, but their basis is essentially zero since they got a massive portion of their money out of the club/course property already.

Lastly, in a private club scenario you don’t need marginal users as your monthly membership fees should cover expenses. Usage fees & food/bev profits are likely minor relative to the $1,100/mo base golf dues whether you show up and play or not.

[clearfund]

EconProf – You are correct except for one distinction. The developer who planned/executed between 199-2005 sold 100% of their real estate product at/above their expectations and made a killing. They are out, have their cash, and don’t give a whit about what has happened since.

All the unbuilt lots are owned by individuals who purchased them from the developer (or 2nd/3rd generation resales). Developer got out before the crash. Beautifully executed real estate play on their part. come to CA, sell, get out. Stick a big mello-roos on the property which reduced their capital risk. Home run for them.

Yes, they still own many golf memberships, but their basis is essentially zero since they got a massive portion of their money out of the club/course property already.

Lastly, in a private club scenario you don’t need marginal users as your monthly membership fees should cover expenses. Usage fees & food/bev profits are likely minor relative to the $1,100/mo base golf dues whether you show up and play or not.

[clearfund]

EconProf – You are correct except for one distinction. The developer who planned/executed between 199-2005 sold 100% of their real estate product at/above their expectations and made a killing. They are out, have their cash, and don’t give a whit about what has happened since.

All the unbuilt lots are owned by individuals who purchased them from the developer (or 2nd/3rd generation resales). Developer got out before the crash. Beautifully executed real estate play on their part. come to CA, sell, get out. Stick a big mello-roos on the property which reduced their capital risk. Home run for them.

Yes, they still own many golf memberships, but their basis is essentially zero since they got a massive portion of their money out of the club/course property already.

Lastly, in a private club scenario you don’t need marginal users as your monthly membership fees should cover expenses. Usage fees & food/bev profits are likely minor relative to the $1,100/mo base golf dues whether you show up and play or not.

[clearfund]

Only golf/spa memberships are sold to non-property owners. Hacienda/sports memberships are only sold to property owners.

Also, I doubt the course would be “flooded” with new golfers at $43k in today’s market. They dropped the price to infuse new ‘blood’ into the club and allow people on the ‘get out’ list a chance to escape the $1,100/mo minimum fee. Remember, they are only around 275+/- golf members vs. a cap of 425+/-.

As a golf member, the facility is top shelf and compares well with the other top tier clubs in the region. Service is #1, hands down. Spa is world class in its service. And all that staff just waiting around makes your experience a great escape from daily life. Expensive, but worth it if it is in the budget.

[clearfund]

Only golf/spa memberships are sold to non-property owners. Hacienda/sports memberships are only sold to property owners.

Also, I doubt the course would be “flooded” with new golfers at $43k in today’s market. They dropped the price to infuse new ‘blood’ into the club and allow people on the ‘get out’ list a chance to escape the $1,100/mo minimum fee. Remember, they are only around 275+/- golf members vs. a cap of 425+/-.

As a golf member, the facility is top shelf and compares well with the other top tier clubs in the region. Service is #1, hands down. Spa is world class in its service. And all that staff just waiting around makes your experience a great escape from daily life. Expensive, but worth it if it is in the budget.

[Author]

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