By Peter Linstroth
Last time I checked, ArrowCreek is not the private playground nor the property of the golfing community. It belongs to all of the residents of ArrowCreek. If we happen to disagree with you, we all will have to agree to disagree. To hear people say, ’If you do not like it, move and get out” is very narcissistic.
To all of the golf members of ArrowCreek, I do not begrudge you from enjoying your activity and enjoyment of the ArrowCreek golf course and club.
Please do not begrudge me for not wanting to fund and support your activity.
To all of the investors of FOA, I wish you all the success with your investment.
Please do not begrudge me for not wanting to be an unwilling investor in your project.
- Also, to you investors: Are you receiving a 10% return on your investment or are you receiving a 10% return of your investment? One letter makes a big difference.
I purchased my home in ArrowCreek to be near my daughter and her family. The golf course and club did not enter into my decision.
Supply and Demand
Currently golf participation is down over 40% and continues to decline. Basically this means the demand is lower and the supply of golf courses continues to remain the same. I drive by them and the courses have very few people playing.
If the current club cannot sustain itself on the current dues structure and lack of initiation fee, then the dues will need to increase and perhaps impose an initiation fee so the club can remain solvent.
If this is not possible because the club will not attract new members and keep existing members, it is not the responsibility of the ArrowCreek homeowners to subsidize the club.
It is also not the responsibility of the ArrowCreek homeowners to subsidize the FOA investment.
The defenders of the home owners’ subsidization will say home values will decrease without a functioning club. There has been a plethora of data and studies presented to contradict this opinion.
Home values are subject to economic conditions as was seen in the recession of 2008.
Home values are also subject to the uncertainty of a potential increase of over $80.00 per month for the Association dues. This potential increase must be disclosed to potential buyers and there is adequate proof buyers are shying away from the area. Potential buyers are interested in the community, not the golf course.
We seem to have a society of entitlement. Is socialism and entitlement alive and well in ArrowCreek?
Are members and investors entitled to their activity and a return on their investment, let alone a rate of return of their investment? If that is the case, please reimburse me for the money lost in the stock market these past few weeks.