A Message from Bobbie:  

Three weeks ago the Ocean Reef Board of Directors announced the real estate stimulus package. Already the results are beginning to ripple through real estate offices on The Reef.  At press time, nine qualifying sales are under contract, with the expectation that there will be many more to follow in the weeks to come.

The stimulus initiative gives buyers of qualifying ORC homes a credit of $40,000 to spend at the Ocean Reef Club as they wish-it can be applied to four years' worth of dues, a new golf cart, hosting a wedding, or anything else the Club offers. The real estate stimulus plan is limited, offered only on homes sold at $750,000 and under, and is available for just 100 days from the date of its announcement on March 18.

Thirty percent of our available properties are priced at or under $750,000 and qualify for the incentive plan.  Nine condominium neighborhoods, most on a canal, inside our gates have qualified listings.   Brokers are reporting that the number of showings on ALL property has increased.  The stimulus comes at a time when the real estate market as a whole is starting to look up, as indicated by the recent real estate transactions recorded at Ocean Reef. In the first quarter (December 2010-February 2011), Ocean Reef Club recorded $21.7 million in real estate transactions, and in the month of March alone, an additional $17.2 closed for a total of $39 million.  When every contract to close in April has recorded, that one month will equal the previous four.  Most of those are not stimulus related sales.  Many of them are older waterfront homes whose prices dropped so low, they became irresistible.

The incentive may be especially appealing to Legacy, Social or current Equity members that may be considering the purchase of an additional residence at Ocean Reef.  The future of real estate is very positive and you can see that reflected in the mood at the Club. For owners at Ocean Reef, the value of living here goes beyond just the investment.  It's about making memories and having fun with kids and grandkids.  Our Northern friends too.  Introduce them!!

The economic upswing, evidenced by the increase in real estate activity, has touched all areas of life at the Reef.  Club usage is on the rise, with more rounds of golf being played, more people dining at the restaurants, and increased participation at all Reef events, including holiday weekends. The chili cook off competition drew triple the expected number and it was a hoot.  Three Dog Night rocked the Cultural Center to a sold-out crowd.  Always look to ORC's calendar and don't miss any of the creative activities they plan for you and for your impressionable young one.   Memories that last a lifetime are made here at the Reef.