The Latest in Luxury Resort & Real Estate News

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Hummingbird Beach Resort Generates $4.5 Million in Real Estate Sales

(SICAMOUS, BRITISH COLUMBIA, CANADA) -- After bracing for a slow sales season, Hummingbird Beach Resort, a four-season, lakefront resort on Mara Lake, announced this week it has transacted $4.5 million worth of lakefront resort properties this summer - without a blowout pricing model.

According to Steele Jordan, president of Mara Lake Estates Ltd., developer of the Hummingbird Beach Resort, small pricing adjustments were made at the beginning of the sales season to match market conditions, but extreme discounts were not needed.

"There is no doubt buyers are looking for the best deal in this market, but it has to be on a property they actually want," Jordan says, "At the end of the day, whether it's blowout prices or not, you're still making a significant financial commitment so the property has to meet the needs of you and your family -- not just your checkbook. I think our success this summer is a direct reflection of bringing a product to the market that people fall in love with."

In particular, single-family cabins proved to be a popular choice for families this summer at Hummingbird Beach Resort.

Sales prices held at $400 to $500 per square foot depending on the type of property and its location in the resort. Hummingbird's low density concept of charming cabins, townhomes and park model home sites spread across nine acres proved popular with this summer's buyer looking for a traditional recreational beachfront community. Easy access to Mara Lake from every home and a boat slip included with every purchase also enticed potential buyers.

No single buyer demographic was the key to Hummingbird's success this summer. Everyone from buyers in their early 30s and young families to empty nesters chose the property for its quaint feel and low density that sets it apart from large scale condo projects throughout the Okanagan.

The Hummingbird sales team reports unprecedented due diligence on behalf of buyers seeking their ideal vacation home. One couple even secretly came back to the property at sunset to enjoy a glass of wine on the beach to ensure the spot was right for them. They purchased the next morning.

"There are still plenty of people looking to purchase recreational property," Jordan says. "Because the buyer has more choices the process is taking longer, however we are confident that they will continue to appreciate the variety of choices and the lifestyle at Hummingbird. From what we've seen this summer, we expect another great year of sales in 2010 as buyers continue to gain confidence and sales should continue to remain strong in 2009 with buyers looking to capitalize on extremely low interest rates."

His sentiment is echoed by the B.C. Real Estate Association, which reported BC Multiple Listing Service residential sales are forecast to climb 15 percent from 68,923 units in 2008 to 79,400 units this year, just below the ten-year average of 82,800 units. Residential sales in 2010 are forecast to rise an additional 6 percent to 84,200 units.

"After 12 months of significant volatility in BC's housing markets, greater stability is expected through 2010," BCREA chief economist Cameron Muir says.

"Robust housing demand is a strong signal that the economy is coming out of the recession, with a recovery in the broader economy expected to develop over the next three quarters."

Hummingbird Beach Resort was one of the few recreational property success stories in 2008, with a strong initial sales launch last June. Its decision to adhere to a simple, low-density development model, focused on celebrating the Mara Lake tradition of family, community and leisure has been a hit with buyers. There is no build out as construction at Hummingbird is completed and the project is financially secure.

The resort is designed to appeal to families who are looking for an easy, simplified holiday experience that emphasizes memorable family experiences on the Shuswap lakes. It is located near the Town of Sicamous, the house boating capital of Canada.

Hummingbird provides family vacationers with a variety of recreational home options designed with high architectural integrity and quality without breaking the bank. The ultimate objective is for buyers to be able to invest in their family. The site for the resort is located on a former family owned and operated seasonal lakeside campground and there is a long tradition of community that extends to the entire Swansea Point community. Hummingbird offers a variety of cabins, lakefront townhomes and park model home sites to appeal to a range of needs and price points.

With its warm summer climate and access to excellent fishing, horseback riding, water skiing and house boating, Hummingbird Beach Resort offers families a quality alternative to the frenzy of activity commonly found at high-density resort properties. Its proximity to several ski resorts, snowmobile trails and heli-skiing makes the resort attractive to those seeking four-season recreational activities.

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Troon Golf Takes Over Management at Colonial Golf & Tennis Club

(HARRISBURG, PA) -- Troon Golf, the world's largest operator and developer of upscale golf course properties, will now put its mark on Pennsylvania's capital city after assuming management duties here at Colonial Golf & Tennis Club.

Colonial is a semi-private club that offers the finest in golf, tennis, and swimming facilities, coupled with premium dining and special event venues. The 18-hole, championship golf course sits on 168 lush acres and was redesigned by Arthur Hills Associates and Steve Forrest in 2003. The course features large greens with carefully manicured fairways and each hole offers multiple tee boxes for every skill level. The most recent renovations, completed in 2007, include a redesigned clubhouse and a new golf shop.

"Troon Golf is excited to partner with Colonial Golf & Tennis Club," said John Easterbrook, executive vice president of operations for Scottsdale, Ariz.-based Troon Golf. "Our team is eager to contribute to the club's success and provide an exceptional experience for members and guests."
 
Colonial Golf & Tennis Club offers a diverse list of amenities, including a state-of-the-art tennis complex. The fully lighted facility boasts four recently reconditioned courts - two Har-Tru and two deco-turf surfaces. The club's junior-Olympic sized swimming pool features seven racing lanes for serious and casual swimmers alike. Organized golf, tennis and swimming programs have proven to be extremely popular at the club and are available for all ages. In fact, Colonial's swim team has brought the club high acclaim - winning the local championship for the past 12 consecutive years.
 
"We are excited to have Troon Golf managing our facility," said Mark DiSanto, CEO of Triple Crown Corp., and co-owner of Colonial Golf & Tennis Club. "This further shows our commitment to providing a first-class club in the central Pennsylvania market."
 
Several dining options are available at Colonial, ranging from a pool-side venue to the new casual Mixed Grille inside the clubhouse. Beautiful indoor and outdoor banquet facilities are also available for special events and weddings.

Colonial joins an esteemed list of golf properties under Troon management, including Troon North Golf Club in Scottsdale, The Clubs at St. James Plantation in Southport, N.C.;  and The Grove in London, England.

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