The Beacon Hill homes and property in Loudoun County, Virginia are an incredible value in today’s market. In the rolling hills of the former Arthur Godfrey property, the original development was anchored by a 27-hole, Johnny Miller-designed, golf course which highlighted the incredible beauty of the area. The homes are offset far from the course, and in almost all cases elevated high above as well, providing spectacular views from most of the elegant and magnificent homes. This is what people imagine when they consider Virginia estate homes and Virginia estate properties.
The history of the Beacon Hill property has been checkered, to say the least. For details, contact me or for summary, see http://www.BeaconHillFineHomes.com. From its genesis as perhaps the premier golf course in Northern Virginia (if you don’t agree, it certainly does not take long for roll call), the Beacon Hill golf course was closed in 2006 after only five years in operation. Several new owners have taken over the property, none to the general approval of home owners. Included among them was an individual spear-heading a group which is now in jail for fraud, and this type of publicity has been a huge negative to the community.
The combination of golf course problems and the collapse of the real estate market in 2008-2009 was particularly devastating to home values in Beacon Hill. Since 2010, I have been highlighting the magnificent homes as outstanding value on their own; golf course or no golf course. The eventual resolution of the Beacon Hill golf course land would simply be a major bonus, in my way of thinking. Some positive action had to come eventually, and it finally has come.
The Beacon Hill Homeowner’s Association has voted overwhelmingly to finally annex the 330 acre golf course land. The price was $1.00, with additional $25,500 in back taxes to be paid, and an agreement of the homeowners to drop its 14-month long law suit against the previous owner, Senior Tour Players Fund I LP (a Massachusetts-based LLC). I cannot stress strongly enough the positive influence this should have on home values in Beacon Hill. This community represents exceptional value rarely seen in Loudoun County real estate.
Although no definitive information on potential uses of the property are released, the HOA has indicated that five groups are potential buyers of the site, and future use of the land has not been determined. However, the key factor here is that the homeowners finally control the land, and it is assumed they will choose a course which is positive to real estate value and beauty in the area. Personally, I am biased toward restoring this incredibly first class golf property as a golf course, but any of the alternative uses will enhance the Beacon Hill facility and be a major plus to homeowners in Beacon Hill.
The annexation comes with a cost to Beacon Hill residents, but that cost is minimal compared to its benefits. HOA bills will increase $480/year; an initial maintenance fee of $750 will be initiated; and a budget of $75,000 for mowing and debris clearance.
This Beacon Hill, Virginia annexation clears the way for the property to once again restore its position as the premier high end value in Loudoun County real estate. For those believing in the investment mantra, “buy low and sell high,” Beacon Hill estate homes may represent the ultimate “buy low” in 2014.
Ray Wedell, Realtor
Chartered Financial Analyst, CFA