8/27/2023 0 Comments Silo ridge houses![]() “We’re lucky that we focus on the ultra-high-net-worth buyer who is probably wealthier now than before the recession. “The postrecession boom has been even stronger, especially at the very high end,” he says. O’Callaghan, who started with Discovery in 2005, experienced a bit of the prerecession boom, but more than a decade later, he says things are even better now. “Even if they don’t play, people like to look at golf courses…and they certainly add value to real estate.” They like the condo lifestyle, just shutting the door and not having to worry about anything.”Ī high-quality golf course is still a must-have, according to O’Callaghan, because it attracts a certain type of buyer. “I thought people would come up from the city to the country and want a lawn. “It’s just the easy, turnkey component, where they don’t have the same maintenance concerns,” he said. With smaller-home footprints an increasing trend, O’Callaghan still admits to being surprised by increasing demand for condos. I find that they are being slightly more practical with a second, third, or fourth home.…Even a family with a couple of kids realizes that 5,000 square feet is plenty of space.” With houses from $2.5 million to $6 million, the development reinforces the trend that people are looking for less-and more practical-space.Īt Silo Ridge, this 4,000-square-foot house would cost $4.5 million.įewer and fewer buyers are wanting to build a custom home, he says. “With superb service, we can smooth out the rough edges of being in a more sparsely populated area.”ĭan O’Callaghan, is East Coast director of sales for Discovery Land, which recently opened Silo Ridge Field Club in Amenia, N.Y., two hours north of Manhattan. “They are looking for a lower-maintenance life,” Guthrie says. Turnkey service is another high-end buyer trend. ![]() It’s also a simpler home because they’re spending a lot of time outdoors.” “People now come in thinking 3,500 square feet, but it ends up being 5,000 square feet after they do everything they want. “Early on, people were building grand houses, some up to 14,000 square feet,” she says. ![]() While the secluded natural environment has been the community’s main selling point since opening in 2001, Lisa Guthrie, its vice president of real estate and marketing, notes how the scope of homes has decreased dramatically. The Santa Lucia Preserve, in Carmel, Calif., 90 minutes south of Silicon Valley, is a 20,000-acre property with a golf course renovated by Tom Fazio in 2015 (custom-designed homes range from $3.75 million to $8.9 million). Those principles have been confirmed by recent trends in the luxury golf real estate market, beginning with the size of living space. The best locations, with great amenities and sense of community, will continue to do very well.” ![]() (Homes there range from US$1.4 million to US$2.1 million.) Rohrstaff says that buyers have learned from those missteps, “and, as they say, the cream will rise to the top. “In the 2007-10 time frame, a lot of developers ran out of money, and projects were not completed,” says Jim Rohrstaff, of Legacy Partners, the marketing agent for real estate at Te Arai, New Zealand’s newest high-end development, 90 minutes northeast of Auckland.
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