Real Estate News, North Carolina

North Carolina Golf Community Brights Creek For Sale Again

Brights Creek North Carolina Golf Community For Sale
Published on July 26, 2012

Like a boomerang, there have been many master planned communities who have ended up back in the hands of their equity partners. Golf communities who come to mind faced with similar situations include Balsam Mountain Preserve which was sold again and is doing fine. Lack of sales, lack of financing and mostly lack of interest from consumers are to blame. Bright's Creek now is added to the list, after the default by Protex Investment Group.

If we had to sum up why one of the larger hedge funds hasn’t already gobbled up this Hendersonville NC real estate as they have many golf communities, I’d say the biggest factor would be Bright Creek's location. As the crow flies, Bright’s Creek is very close to downtown Hendersonville and Flat Rock, yet without an access road, it takes about 45 minutes to drive around the mountain range into downtown Hendersonville. Downtown Tryon is about 30 minutes to the south. These distances makes dining out and brand name shopping a bit more of a planned event, when you live at Bright’s Creek. Bright’s Creek does have quick access to the North Carolina/South Carolina state line, connecting to Interstate 85 leading to Charlotte or Greenville.

Buyer’s today remind us of the three bears, finicky 1, 2 and 3. It’s too far, the amenities are unfinished and very few say it’s just right. Buyer’s searching for Hendersonville NC real estate are taking a lot more time making decisions because to them, everything is on sale and there’s no sense of urgency. If you haven’t been to Bright’s Creek, this gated North Carolina equestrian community is located in a beautiful valley surrounded by mountain ridges and the scenic Green River. My husband and I played their Tom Fazio golf course and like the BMW ProAm Charity event held at Bright’s Creek for years, we all believe the golf course is of high quality and is a pleasure to play. Amenities in place, in addition to the golf course, include a top notch equestrian center, Members Lodge, and a pro shop.

What’s been on the drawing board for years now at Bright’s Creek is the main golf clubhouse, an outdoor swimming pool, fitness center, tennis courts and sportsman’s club bordering the Green River. Promises, promises, promises continue to turn buyers away. If buyers searching for Hendersonville NC real estate would take a moment to understand the logistics, that the number of homes built at Bright’s Creek doesn’t support the monthly maintenance expense to proceed with building these new amenities. Less than 10% of the 500 homes planned at Bright’s Creek have been built to date.

According to the Tryon Daily Bulletin, Bright’s Creek real estate developers, Bill Amick and Jim Roquemore will be increasing the golf club dues temporarily, to assist with the financial shortfalls. Their alternative, to shut down the golf course until a white knight arrives with deep pockets who wants to own Bright’s Creek. Ironically, property owner scorecards were recently mailed to property owners from us. Some property owner’s have expressed faith in owning at Bright’s Creek, while others feel duped. The good news for buyer's searching for Hendersonville NC real estate, Bright’s Creek carries no bank debt. Real estate developer’s Amick and Roquemore have asked club members to engage in the solution, by encouraging new memberships and playing the golf course more frequently.

We plan to visit Bright’s Creek again soon and will keep you posted on their progress. We hope the bargain hunters out there can read between the lines and recognize the opportunities we see at beautiful Bright’s Creek. Write us if you’d like to talk more - info@communityfinder.com or call toll free 866.384.1799.