Wednesday, July 15, 2009
We were out and about earlier today and happened to go look at the latest golf course that was built here in Bend, Oregon. Going by the name Tetherow, it had the misfortune of opening up last summer, just in time for the financial market meltdown and the subsequent rethinking by tens of millions of Americans about how much money they spend and where.
Right next to the Tetherow sign on the main road was an Open House sign, so we followed it.
The golf course looked absolutely gorgeous, as it should for the amount of money they are charging the public to play there (between about $115 and $195), management having long since given up trying to make a go of it as a private club.
Though there were about a half dozen homes under construction, we arrived at what appeared to be the only completed home, part of a planned 380 home development that is clearly going nowhere fast.
As it happens, there's a big "Tour of Homes" in the area over the next two weeks, sponsored by the local homebuilders to feature their fine work and, hopefully boost new home sales. The tour was announced loudly in the local paper today with an enormous supplement shown above (an online version of the guide can be seen here).
Anyway, arriving at the open house and noting that the price had just been reduced from somewhere around $1.4 million to around $1.1 million, we asked if the home was going to be featured on the Tour of Homes in the weekends ahead.
The gentlemen greeting prospective buyers replied, "No, but it was on it last summer".