In my last article, Big Canoe’s Board & Committee Insiders Secretly Move to Replace a Golf Cart Fleet only 3 yrs old, information was released regarding the replacement of the Golf Fleet – well before normal lifecycle. Since then I have uncovered important and relevant information regarding said replacement, which I will now share.
While digging through old Big Canoe POA Board of Director’s Minutes, I found an interesting comment in the April 2018 Board Minutes. It was a simple one line, that carried a hefty price tag, ” 300 batteries have been replaced in the golf carts, all under warranty.”
This was just over 1 year ago, and this small sentence adds a completely new dimension to the Golf Cart Replacement issue – because it is the batteries that wear out first – so with this statement we find that the life of our fleet (at least a substantial part of it) is now good for several more years. So there is NO reason to trade them in. I hear they are talking about Trade-in value over on the heavily censored Big Canoe FB Groups, but they fail to note that we still lose substantial value in the trade-in process, AND AGAIN – the carts themselves have a lifespan of many more years – so with new batteries – why even trade them in at all after JUST THREE YEARS???.
I suggest that they are most likely doing this early trade-in in order to capture more value in order to sneakily pay for their upgraded “Toy Benefits Package” that includes GPS and Lithium Batteries – without it getting as much attention within the community – as they hide the additional cost in the additional early trade-in capture. Those Lithium Batteries will require new Lithium Chargers also – and I can’t imagine our lead-acid battery chargers are worn out already. I am also wondering if chargers were part of the battery replacement last year? Another unanswered question.
And to address the “all under warranty” statement…. that is VERY misleading, as battery replacements are PRORATED warranties, and replacement value drops substantially, and very quickly over time. My guess is that the “Warranty” covered less than 15 – 20% of the cost of the new batteries we got. Of course, the easiest way to find out – is to ask. However, I am betting neither the Board nor Finance committee will provide documents that give clarity on such an answer – such as Purchase Orders, Warranty Schedule Sheets, Quotes and RFQ documents etc. And I doubt we’ll ever get facts on what trade-in value we get, or exact details of the deal. Its always “Trust Us, but DON’T verify” and then requests for verification are met with literal Howls of outraged indignation that we are attacking these poor “volunteers” etc. Very convenient way of deflecting attention it seems – because it always works on the Big Canoe Property Owners. They move obediently on to the next issue, without ever demanding FULL answers, or access to documents (aka detailed Proof and Full Disclosure).
If we upgrade carts – we are effectively spending $400,000 +/- that we wouldn’t have to spend for probably 4 more years. And we lose trade in equity on practically new, 3 year old carts, and 1 year old batteries. I count this as adding out-of-thin-air, and quite uneccesarily, another $100,000 annual loss prorated over that time period – to a Golf Program already losing us on average about $300,000 per year. It is a manipulatiion so that Golfers can get cool new toys with GPS and shiny paint jobs. AND WE THE PROPERTY OWNERS KEEP PAYING!
But look at what WE get…..
- NO State-of-the-art Dog Park Facility
- NO Indoor Children’s Center
- NO Cut in our Assesments (just another expected raise!)
But it’s all good – because we Love Our Golfer Welfare Program! It’s obviously the only thing that underpins property values here to hear them tell it. As long as we can keep pumping money into the Golfer Welfare Program – Rich Golfers from across the globe will flock to Big Canoe to buy our $500K+ homes.
SUB-STORY INSERT
Looking at the Real Estate data I am wondering how that is working out as a marketing strategy? I am going to warn everyone that I am desperately trying to hold off on a Property Value story – because people are so dead set on not looking at the facts on that. But it is a situation getting worse every day, and everyone seems happy accepting “word of mouth” platitudes that real estate values are chugging right along. They are not. Just the opposite. I’ll just give you one example of the high end market here.…
The old “Burt Prater Lodge” up on 32 Raccoon Run. I once had that advertised on my For-Sale-By-Owner site for $2,900,000. I remember in 2007 Burt told me someone had offered him $2,000,000 cash plus another home in Big Canoe (value around $225K). I told Burt that my opinion was that the bottom was about to drop out, and that I could see the day that if he turned this down, he’d one day have that home Listed for less than $2,000,000 and not an offer in sight. They turned down that offer (of effectively $2,225,000) and it wasn’t for seven (7) more years that they finally sold the property – for $1,750,000.
Fast forward to 2019 – the Buyer of the Lodge listed it for $1,850,000 almost TWO (2) YEARS ago. On April 19 2019, they dropped the price to $1,200,000. That was two months ago, and still no takers in sight. THAT is what the high end market in Big Canoe looks like – and it is rapidly getting worse.
I’m going to do that Big Canoe Property Value / Market story soon. I’m going to warn everyone that they are NOT going to like the facts. And the ONLY reason I have’t done it yet – is because the already substantial backlash I am getting is going to increase – because people just don’t want to hear the facts – because the reality of what is happening is just something they would rather pretend isn’t happening. But I am not the cause for the local market slowing, and the situation is getting so bad – that I would not be able to hold my head up as a journalist if I ignore that story much longer.
I will say the following if you want a heads up on the facts of what is coming:
- Look at the number of Lots on the market. Holding costs are too high with the increased assesments, and they are being dumped on the market. If this mega-recession – that most intelligent people are aware is coming – hits, then we will see 2008 all over again, and in that sitution people just tossed in the towel and walked away leaving POA owned lots that don’t collect assesments. That will result in another blow to our Assesment Revenue at a time that the Board seems dead set to lock us into higher fixed-cost situations. If you look at my earlier story on the subject (scroll down in story to get to lots section) – you will see that they are still trying to keep off the market the enormous glut of properties from previous downturns – manipulating the supply.
- Look at the ratio of low cost to higher cost homes that are selling.
- Look at the Selling prices vs the Listing prices (we are seeing huge drops in many cases)
- Look at the number of Homes Selling (Demand) vs the number of Homes Coming to Market (Supply). Ratio is increasing 3 to 1 on the Supply side.
I will take partial blame for this last one – because people HAVE told me they are leaving, indirectly because of my reporting – NOT because I am creating this uncivil, hostile world within Big Canoe as my critics try and paint this as….. but because they are becoming more aware of FACTS I am putting out there – and they’ve had enough. I’ve also heard that many people simply do NOT like the direction Big Canoe is heading, and they don’t like our new GM’s hardlined approach to change, and they basically just didn’t sign up for this.
Now granted – my reporting may actually be getting the attention of some buyers also – so maybe that is lessening demand. But guess what – it is NOT the News Media’s job to look the other way, and cover up stories in order to prop up property values (unlike the Smoke Screens Newspaper). I have been as responsible as possible, and even here I’ve gone the extra mile to disguise a property values commentary as a Sub-Story in a Golf Cart Battery story.
ALL of these stories boil down to the same thing…. We are a community out of control, and in a direction that is not welcomed by the majority of property owners, and it is happening at the leading edge of what looks to be a looming Recession, one that many think may be worse than 2008. Property Values and market conditions are starting to reflect that leading edge concern. In this environment, we do NOT need to be playing fast and loose with the little revenue we have.
I’m just the messenger, and I understand people’s concerns, because I don’t like the message either. But what is being reported by this newspaper is the truth. I may, as one person puts it, be a little bit of a provacateur sometimes, but honestly – my job is to report the facts, but in the face of coordinated attempts to block news dissemination, banning links to our newspaper from Facebook Admins (Meg Rooney, Elaine Fitzgerald, Rachael Goodman, Warren Culpepper, etc) within the community, and even outright lies and character assasination being being engaged in by select Insiders, INCLUDING by the Board and Committee chairs, and even blatant attacks allowed by the Smoke Screens Newspaper etc…. yeah, I am guilty of a little aggressive pushback, and attention getting drama sometimes – but it is all in a greater effort to make sure that the underlying facts get noticed (and personally I fail to see the wrong in my defending myself from such cowardly attacks – which do not allow me to give my side of the story).
All of that said – in the end it will require action on the part of the Property Owners to regain control of their community. I’m just providing facts, and alternative solution / discussion ideas.
IF ANYONE WANTS TO GET EARLY RELEASES OF OUR ARTICLES, or some held-back additional details and comments that we lay out in discussions, join our Facebook Group, and join the discussion….
https://www.facebook.com/groups/FocusonBigCanoeGA/
* I will warn you that I take off the gloves in here sometimes – and this is where I HIT back HARD at people that are slandering me. NOT at people that disagree with me and want to debate intelligently – but at the TROLLS that just spread hate, name call and act as divisives – those people get short shift in this group. So if you don’t like seeing that sometimes, stay away.
Also, if you are receiving notice of these articles by email, you are encouraged to forward them to your friends. Too few people still know about these issues. Continuing to sweep them under the rug is not going to solve anything. This is ALL about spreading facts, and increasing transparency within the community. Some people do not agree with my conclusions, or approaches to certain facts – and I respect that. But we cannot have intelligent debate and conversation until the basis of the facts involved is put forth. Doing so is the ultimate goal.
I expect a large turnout for the June 13 2019 Board Work Session, and the June 20 formal Board Session. Anyone wanting to be part of the solution, should prepare their thoughts, questions and comments, and be heard. Don’t be afraid to bring the tough questions, or to expect real and straightforward answers. Also, anyone is welcome to submit a Letter to the Editor here. I am not guaranteeing I will publish everything, but if I see a well thought out and well presented case for a course of action, or simply a very wise observation, I can’t imagine I wouldn’t print it.
Good luck. Peace,
– david / publisher
themtnsvoice@aol.com < tipline and submissions for letters to editor
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