Monthly Archives: October 2010

This is the one place in the Hill Country that has it all — a heavenly piece of land between the sky and the water.

A Message from Skywater Ownership
Dear Friends of Skywater:
Fall has arrived at Skywater! As you know if you live here—or nearby—we’ve had plenty of rain lately, which is terrific news as the turf continues to grow in on Summit Rock. We continue to be pleased with the progress of the course and expect to be playing the first rounds of golf there in the spring.

Elsewhere at Skywater, we are looking forward to a beautiful fall season and invite you to stop by for a visit when you’re in the area. If you haven’t seen the Ranch at Skywater property first-hand, we’d love to show it to you. It’s truly a very special property—including breathtaking views, beautiful topography and a wonderful home ready for occupancy.

Our Founders and their guests recently enjoyed an end-of-summer weekend at Skywater with barbecue, live music and lots of socializing with friends on Friday night, followed by a golf tournament and tours of Skywater on Saturday. Look for an invitation to the next Founders event later in the year.

Best regards,
Thad Rutherford

Second Tournament of Founders
In late August, our Founders and their guests joined us for a weekend of dining, dancing and of course, golfing.

On Friday night, the Special Interest Band played at the beautiful Ranch at Skywater while our guests enjoyed a barbecue dinner. On Saturday morning, golfers teed off at Slick Rock Golf Course for the Second Tournament of Founders. Guests who opted not to participate in the tournament enjoyed a boat cruise around Lake LBJ.

After the tournament, everyone gathered at the newly sodded Hole 14 of Summit Rock for a luncheon and the opportunity to be amongst the first to tee off on the course. At lunch, tournament winners were also presented, and Mike Gordon and Clayton Reed took home the title in the men’s division with a 56 net score. In the women’s division, Althea Rowan and Marci Butler won with a 65 net score.

All four took home a gift card to Nicklaus.com. Congratulations to Mike, Clayton, Althea and Marci!

We enjoyed seeing everyone and look forward to seeing you all again soon!

Guests enjoying dinner on a late summer evening. Guests also toured the stunning Ranch at Skywater Friday evening.

Golfers lined up to drive the first balls at Summit Rock’s Hole 14. Mike Gordon (left) and Clayton Reed (right), winners of the Second Tournament of Founders Men’s Division.

Summit Rock’s Unique Features Detailed as Course Nears Completion
Summit Rock, our Jack Nicklaus Signature Golf Course, is on schedule to be ready for play in early 2011. As many of you know, Jack Nicklaus has made numerous site visits to Skywater, and the course offers many unique features the Golden Bear envisioned and directed himself, which sets it apart from others both near and far.

One of the rare and more unique features of Summit Rock is the elevation change. The course has a clear upper section, with more rugged terrain and impressive views of nearby Lake LBJ and the Hill Country, and a lower section, which features beautiful oak trees and other native plants. Of particular note is the substantial elevation change golfers will find between any two given holes, adding a dramatic effect to the course as a whole.

Another distinctive feature appears at the 12th hole, which contains eight separate tee boxes. Nicklaus saw several different angles that would be interesting, so rather than choose only the standard number of tee boxes, he decided to provide the hole with additional teeing options to keep it fresh, challenging and fun for players.

Yet another unique feature occurs at the 18th hole, which has two different greens from which to choose, depending on the golfer’s ability and confidence. This hole was a design challenge because a large creek weaves through the middle of the fairway. To address this, one green was placed on the near side of the creek and the other—what some might consider a more challenging green—was placed on the far side of the creek. The closer green is designed to ensure the hole is more playable for higher-handicapped players by taking the creek out of play.

Holes 10 and 11 were also designed by Nicklaus to give the player options depending on his or her skill level. Both of these holes can be played optionally and alternately as either a par 4 or par 5. It will be up to the head pro to determine par on a day-to-day basis. It is rare to have a hole with different par options and even more extraordinary to have two holes like this on the same course.

Due to the expert design and natural landscape of Summit Rock, it will be a one-of-a-kind experience for even the most traveled and seasoned player. The course currently has 99 percent of the drainage system installed and 90 percent of the irrigation system is complete. Sod on seven holes, plus greens on holes 13 and 14 have been installed. Another five are scheduled within the next few weeks, and the remainder will be installed by the end of October.

When complete, Summit Rock will be operated by the Horseshoe Bay Resort. We will continue to keep you updated on the progress of the course!

Hole 10, from green to tee. Hole 11, women’s tee to green.

Hole 13, men’s tee to green. Hole 12, from tee to green.

Watch an update from Jack Nicklaus
And Now, from Jack Nicklaus Himself…
Mr. Nicklaus and his team made a stop at Summit Rock in late August to take a look at the course’s progress. In this video, he shares with us some insights about the course and why you should continue brushing up on your golf skills before Summit Rock opens next year. Enjoy!

On The Road
The Skywater sales team recently went on a road trip to meet some folks in Midland, Texas. We hosted a cocktail party at the beautiful Petroleum Club of Midland to spread the word about the Texas Hill Country lifestyle at Skywater.

The Ranch at Skywater
The Ranch at Skywater is a 103-acre ranch located within the community of Skywater. The Ranch can be divided into 15 ranchettes, or remain undivided. Ownership of The Ranch at Skywater (if sub-divided) includes 15 membership initiation fee waivers* to the highest level of Horseshoe Bay Resort, including use of Summit Rock (when open) and three additional golf courses.

The Ranch property consists of a quality custom home by Barley & Pfeiffer, built in 1999. The home is approximately 4,557 square feet with three bedrooms, three baths and a three-car garage. Also included are a hay barn and apartment, stable and tack room, and more than a mile of creek frontage. The property has an agricultural exemption.

We live in uncertain times.  Financial assets are depressed and volatile.  Returns and yields on those assets are dismal.  Who would have guessed a few years ago that a savings account paying 1 percent interest would appear attractive?  Investors all over the country are looking for safe investment with a strong upside, but for Texans it is right before their eyes – the Texas coast.

Texas coastal real estate is reminiscent of Edgar Allan Poe’s story “The Purloined Letter” where the letter could not be found because it was in plain sight.  Interestingly, Texas has the world’s 12th largest economy but it is home to the least expensive coastal real estate in the United States.  Texas beach towns like Port Aransas, Rockport, Port O’Connor and Padre Island continue to be top vacation destinations for families, vacationers and sportsmen alike.  The coast offers nine months of beach season, world-class fishing and average highs of 69°F in February and 93°F in August.  The Texas coast is conveniently located within five hours of more than 85% of the State’s population and greater numbers of vacationers are visiting every year.  In a time where people are looking for solid investments and safe places to park money, we can all agree the Texas Coast looks very promising.

Theodore Roosevelt once said, “Every person who invests in well-selected real estate in a growing section of a prosperous community adopts the surest and safest method of becoming financially independent. For real estate is the basis of wealth.”  These words could not be more true.  Following TR’s wise words and the time honored investment rule “buy low, sell high,” one of today’s smartest investments is in a second home or investment property.  As government spending and taxation increase people are more attracted to hard assets that provide immediate tax benefits, a hedge against inflation, the potential for significant appreciation and a good tan.

National headlines about real estate still cause alarm and many people are justifiably apprehensive about real estate.  However, markets across the United States are vastly different and where you buy is often as important as when you buy.  Florida has a glut of beachfront condos and homes available for deeply discounted prices.  Yet, Flordia real estate is languishing on the market because of investor and second home buyers’ fears.  Even after steep discounts property prices in Florida remain high relative to Texas.  The average price of a condo in Destin is over $560k! Florida real estate was “discovered”…decades ago.  The long term investment potential in Florida has been realized by those who purchased property in the 1970’s and early 1980’s.

In contrast, Texas has weathered the economic storm far better than most and the coast’s growth potential is unrivaled.  After 16 months of job losses nationally, the state’s economy experienced its third month of positive annual employment growth. The growth rate from July 2009 to July 2010 was 1.3 percent compared with a rate close to zero percent for the rest of the nation. The state’s private sector posted a positive annual employment growth rate of 1.2 compared with a zero percent growth for the rest of the nation.

Earlier this year Forbes ranked the top ten fastest growing cities in the United States; four of them are in Texas.  Encouraged by a healthy economy, a comparatively low cost of living, no state income tax and great weather, Texas’ population is expected to grow a staggering 66% over the next 20 years, bringing the total population to roughly 40 million by 2030.

Another Forbes article listed the nation’s top 20 cities for jobs; of the 20 cities nine of them are in Texas.  A pro-business environment has encouraged many major corporations to relocate their headquarters here. The state is now home to 58 Fortune 500 companies, more than any other state.  They include Exxon-Mobile, Dell, Fluor, and J. C. Penny to name a few.

All signs point toward a bright future as Texas continues to grow and prosper.  Furthermore, the long-term prospect for second homes in Texas is very strong.  Currently, 38.7 million people in the United States are ages 50 to 59 and 45.3 million people are between 40 and 49 — prime years for buying a second home.  Individuals in these groups are still in their peak-earning years. They have both the means and desire to purchase second homes as an enjoyable investment or retirement destination.

When one considers Texas’ economic strength, job creation and population growth it’s understandable that available coastline is dwindling.  Of the 375 miles that make up the Texas coast, 293 are unavailable (State and Federal preserves and parks), 56 miles are fully developed and only 26 are still available.  It seems in a few short years affordable property on the Texas coast may be a thing of the past.

Are you considering a vacation home or coastal investment?  Let me help you find the beach house you’ve been looking for!  I am a buyer’s agent specializing in Texas coastal vacation property.  There are a lot of issues and obstacles to navigate when purchasing a vacation property.  Who is looking out for you?  Protect yourself with an experienced buyer’s agent who will represent you and your interests.  Contact me to find your vacation property today!

Best,

Marcus Cox
Shoreline Real Estate

Go Texas Coast!