Reynolds Plantation News

Published on May 14, 2012

When hedge funds such as MetLife invest millions of dollars in one of the best golf resorts near Atlanta, it’s worth taking notice. In fact over the last two years, we have watched a number of individuals and investment groups acquire trophy properties such as Balsam Mountain Preserve in Sylva, The Cliffs Communities in North and South Carolina, The Georgia Club in Athens, Southcliff and Grand Highlands near Asheville North Carolina.

We've had our eye on Reynolds Plantation, Achasta in Dahlonega, Lake Burton Club in Clayton Georgia and Blue Ridge Mountain Club in Blowing Rock North Carolina for years, waiting to see what would happen when the dust settled down after the ownership changed. Reynolds Development found themselves backed up against the wall when their lender refused to renew their bank financing and lines of credit. In fact, a number of Lake Oconee real estate developments were hand cuffed by lenders as the credit market began to dry up in 2008.

In an effort save the gated community from foreclosure, a proposal was submitted directly to the property owners of Reynolds Plantation, a suggestion to buy out the amenities and take over control. This controversial issue caused a stalemate between property owners and the buy out fizzled. It was just a matter of time before a big money conglomerate with financial muscles and a deep checkbook would scoop up more golf resorts near Atlanta. The question still lies if Reynolds Plantation’s soon to be new owner, MetLife, will bring unity back to this close knit vacation and second home community. We hope so. Reynolds Plantation is home to six championship golf courses, a lakeside Ritz-Carlton Lodge, swimming pools, wellness centers, lakeside marinas and gorgeous Lake Oconee golf courses.

Are you one of those buyer’s who are afraid to buy or seller’s afraid to sell even if you know it's the right thing to do to move forward with your life? Let us share with you a lesson we've learned from our friend Frank McKinney, a well known real estate maverick in South Florida who builds million dollar beachfront spec homes for the rich and famous. We had the pleasure of touring Frank’s latest masterpiece in 2009, $29 million Acqua Liana which sold soon after in what some would consider the worst real estate market in history. In Frank’s book Burst This! he discusses the six real estate cycles since the Great Depression of 1929 pointing out the causes and ways to bubble proof your investments. His book is very interesting. We're too young to remember the Great Depression but do you remember when America fell flat on its face during these significant events in the 70’s, 80’s and 90’s? We do.

Interest rates rose to over 17% in 1981
Gas shortages forced us to wait in line for gas on specific days of the week
Skyrocketing inflation and unemployment rates seemed impossible to fix
The Savings and Loan Crisis - more than 1,000 thrifts failed and our government had to bail them out
The Internet Bubble Burst in the late 1990’s plummeting 401k portfolios and savings including ours

The conclusion we gained - history repeats itself over and over. To us, we are entering the fresh beginning of a new real estate investment cycle, both for the short term and long term. When 'big money' makes its move with Lake Oconee real estate, it is worth noticing and following suit. Yes, it will take courage to ride the real estate rollercoaster after the beating we've all felt in the past 4 years. Stay positive and think about the laughter at the end of the ride and your smart accomplishment.

Finding undervalued quality communities which deliver pure bliss is how we help buyers in this real estate market. We are here to help! Fill out our Community Matchmaker Questionnaire with your wish list of lifestyle amenities and we will send you back a list of places to consider and the details why. We'll also include a list of our favorite hotels near Greensboro GA.