by Chuck Pigg, Community Manager
February 2010
On the 10th anniversary of our community it is my pleasure to share “The State of The Reserve” with you.
The Year in Review
2009 was a solid year for The Reserve. We increased prospective buyer tours to over 350. We closed 33 real estate transactions, including 20 new developer homesites, 1 developer home, 6 resale homesites and 6 resale homes. Our total sales volume for 2009 was $19,354,175. These are more than respectable numbers in today’s economy.
There is no doubt that we have just come through one of the most challenging economic times in our country’s history. It slowed sales, growth and the pace of our planned amenities. But the good news is that The Reserve has fared well compared to most private communities. Today we are a very vibrant, very viable community with a strong history behind us…and a solid plan for the future.
The Decade in Review
We have come a long way in a decade. What was first envisioned at a planning charette in 1999 today has come to life with:
• Over $100 million in amenities that include a Jack Nicklaus Signature Golf Course, clubhouse, pool complex, tennis facility, marina, Founders’ Hall, waterfront park, market, post office, guest house, and miles of hiking trails.
• 619 families with memberships are enjoying all of the amenities that the Reserve has to offer.
• 165 homes have been built at The Reserve. Of those, 70 are occupied by permanent residents. The balance is used as seasonal or weekend homes.
• What has been achieved here has been recognized by the industry and top publications. Among the awards The Reserve has received are "America's Top 100 Golf Communities” (Travel & Leisure Golf), “Top Ten Communities" (Golf Magazine), and "Top 100 Premier Properties" (LINKS Magazine).
The Steps We are Taking
In the new economic conditions, it is vital that we continue to look at new and different types of real estate products, examine our operations and offerings closely, stay committed to our levels of service, and keep tight fiscal reins.
In the coming year, we will:
• Plan new Placid Park Homes designed to appeal to those buyers looking for price points for built homes between $500,000 and $1 million. This is based on feedback from prospective homebuyers who toured The Reserve.
• Continue to “tighten our belt” in all aspects of operation in order to make sure that we continue to maintain a viable and healthy community.
• Maintain very high levels of service while keeping dues reasonable.
• Continue to look at various dining options at the Club and seasonally at the Market and Pool Grill.
• Work to improve signature events such as the Annual Member-Guest and our July 4th festivities.
• Use the Annual Member Survey to guide us in new events that appeal to various segments of our membership, as well as the establishment of a Golf and Social Committee.
Looking Forward:
Based on our experience and what experts are telling us, we expect the national economy to improve in 2010. Though we are prudently forecasting slow growth over the next several years, we are cautiously optimistic about our real estate sales in 2010. As such, we are budgeting for a modest improvement in sales this year. So as not to overburden the Club with operating costs, we are developing plans for future amenities that take into consideration the number of Reserve members and amenities usage.
Overall, The Reserve is weathering the challenging economic times well. Our infrastructure and amenities are in place, we have a strong core of Members, and a very appealing location lifestyle. In short, we are a healthy community with the resources and determination to thrive in the years ahead.
