(August 06, 2013) - Balsam Mountain Preserve, a private residential club community located just outside Waynesville, is experiencing a dramatic renaissance in both real estate and membership growth in 2013. Real Estate Scorecard has been informed by Balsam Mountain Preserve there have been 29 real estate transactions already through July 31st, which represents five more sales than the entire calendar year of 2012.
Balsam Mountain Preserve is one of Jackson County’s most unique neighborhoods considering that 3,500 of the community’s 4,400 acres have been placed in a permanent conservation easement and will never be developed. There are currently over 70 homes in the community along with an Arnold Palmer designed golf course, equestrian center, pool and tennis complex, onsite restaurant, and miles of private hiking trails.
When The Challenge Golf Group, based in Marshall, Texas, acquired Balsam in November, 2011, there had been only two real estate closings for the year and club membership stood at 99 members. A little more than eighteen months later, Balsam has experienced real estate sales and membership growth rates that have made it the market leader in its segment in all of western North Carolina. Real estate sales grew from those two closings through November, 2011 to 46 closings since, and club membership has grown from 99 to 128 members. Additionally, 7 other properties in Balsam are under contract and are scheduled to close this month.
Bruce Fine, Balsam’s President and General Manager, noted three main reasons for Balsam’s turnaround. “First of all, Balsam is blessed with an incredibly supportive group of existing property owners, and they make prospective purchasers feel welcome and confident in the future of the community. Secondly, our financial strength has allowed us to invest in marketing when most high-end communities have stopped altogether, so Balsam is viewed in the market as a viable place to invest capital. And finally, prices on homesites here are as much as half of what they were just a few years ago, and astute buyers who know they want a mountain home are recognizing that now is the time to strike before prices and interest rates start to inevitably move higher. Eighteen months ago there was one home under construction here, now there are four with two more scheduled to break ground by September.”
About Balsam Mountain Preserve
Over the past ten years, Balsam Mountain Preserve has firmly established itself as one of western North Carolina's premier club communities. An authentic mountain retreat, Balsam offers its residents an astounding array of completed amenities, including an award-winning Arnold Palmer Signature golf course, a family sports camp with swim, tennis, and fitness facilities, a beautiful restaurant and lodge, and over 30 miles of private hiking, biking, and equestrian trails.
Located adjacent to the Great Smoky Mountain Expressway, Balsam enjoys an enviable location just 40 minutes from downtown Asheville. Created with a commitment to preserve its natural surroundings, 3,500 acres, or over 75% of the community, has been placed in a permanent conservation easement, ensuring it will never be developed and will always remain for future generations in its present park-like state. Over 240 properties have been purchased in the community and nearly 70 homes have been completed.
About The Challenge Golf Group
The Challenge Golf Group is based in Marshall, Texas, and has over thirty years experience in both commercial and residential real estate development. Over the past three decades, the company’s principals have owned and operated a variety of successful businesses, from restaurants and manufacturing operations to high-end real estate communities. Their current portfolio of properties includes ten golf and amenity communities located in Texas, South Carolina, and North Carolina.
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