[villages07]

Russ,

I certainly don't know for sure, but, here are some thoughts and opinions.

I agree with Gracie....If golf courses start going away, something catastrophic would be happening with the whole Villages concept and we're all in deep doo-doo.

As I recall, the master plan from the developer, approved by Sumter County, includes stipulations about # of holes of golf to be built for x number of houses; same thing with pickleball and tennis courts, etc. So, there is some existing 'requirement' for the recreation facilities that are built to be proportional to the number of new homes.

Lastly, your 'risk' might be different for a home on a championship course vs an executive course. The champ courses are privately owned and operated. The execs are part of our overall amenity package and are funded by our amenity fees.

I consider it a minimal risk. But, I'm sure those folks who bought Naples beach condos for $800K in 2005 thought they were making a good investment.