Desert Mountain Club Turnover Update

As you may already know, the Desert Mountain Club is being turned over to its members by March 1, 2011. At that time the members are purchasing all of the club assets from the developer and the Desert Mountain memberships or DEGMs will transform from a deferred equity membership to an equity membership.

There were 2 meetings held between the Desert Mountain Advisory Board and Crescent Real Estate Holdings in June. In these meetings they addressed the scheduled deadlines that must be met, all water issues that will affect the current club and the member owned club, as well as other accounts and expenses that will be acquired by members. In addition to this, they started the preliminary discussions on the developer provided financing terms. To ensure that this transition continues to run smoothly and affects current members as little as possible, they are planning to hold weekly conference calls that will allow them to immediately address any issues or concerns that may arise along the way.

As we have previously discussed on this blog, we do not expect this turnover to have any significant changes in the day to day operations at the Desert Mountain Club. The club facilities and rules will largely remain unchanged by the turnover. They are working hard to ensure that this is a smooth transition. Desert Mountain will continue to be one of the most premiere and exclusive clubs in Arizona.

As your Desert Mountain Real Estate specialist, I will keep you up to date on the latest information about the club turnover. If you are considering purchasing a Desert Mountain property and have any questions about the memberships and how the turnover will affect you, feel free to give me a call. I specialize in selling homes throughout Scottsdale’s upscale golf clubs including Desert Mountain, Troon, Mirabel and Estancia.