Coachella: "Today nearly one out of every four homes listed for sale is on a golf course."

Probably a coincidence as the rebooted Bob Hope becomes the Humana Challenge, but USA Today's Mike Perrault and Keith Matheny focus on the Coachella Valley in writing that the "unbreakable linkage between golf and real estate" has been broken.

In the nine cities of the Coachella Valley, including Palm Springs, where multiple presidents, Bob Hope and Frank Sinatra swung the clubs and lived in golf-centric resorts, today nearly one out of every four homes listed for sale is on a golf course.

"We're entering a new normal," said Pete Halter, chairman of The Halter Companies, an Atlanta firm that advises developers. "We can't think this will be over soon. Things have changed for good."

Among the forces reshaping the relationship between golf and real estate:

•Fewer people play golf, and Baby Boomers don't have the time, money or interest in the game their parents did. The number of golfers in the U.S. has fallen by 13% in the past five years, according to National Golf Foundation statistics. The number of golf rounds played nationwide last year through November was down 3.5% from the previous year, according to the foundation.

Something to note for clubs looking to adjust to the times...

Resort communities are already beginning to offer fewer golf courses, and high-priced courses designed by top golfers or famous architects will become rarer, Goodkin said. Allowing non-residents onto club courses and letting them pay by the round will become more prevalent as a way to control costs within golf communities, he said.

"There will be a lot more focus on soft amenities — education, fitness and health programs — not just playing golf four or five times per week," he said. "Things where there isn't a lot of physical equipment, land and high maintenance associated with it."

The Belfry For Sale...Donald Are You Paying Attention?

Thanks to reader Chris for this unbylined golf365.com story revealing that former Ryder Cup host The Belfry can be had at a bargain rate even after a recent renovation of the resort hotel. The three golf courses remain forgettable except for the wild and weird short par-4 10th. The rest is screaming out to be fixed by the only man buying golf courses at the moment, Donald Trump.

There has been widespread speculation surrounding the future of the highly-rated golf estate with its 324-bedroomed hotel and upstanding conference facilities, its three courses, the Brabazon, the PGA National and the Derby, since its once-powerful owners led by Irish-based businessman Sean Quinn Junior, hit a financial crisis.

This just six years after purchasing it for £186million.

The talk is that a figure of some £60million is being asked for by the current owners of the 550-acre Warwickshire venue via their commercial property agent Jones Lang LaSalle Hotels which has been appointed to market the resort at Sutton Coldfield.

"The world changed."

Jennifer Bjorhus reports on another high-profile course closing, this time 8-year-old Tom Lehman-designed Windsong Farm outside of Minneapolis. Quite a statement from the banker...

"The world changed," said club member and shareholder Mark Lewis.

Lewis, a semiretired businessman in Edina, said Windsong Farm was insolvent and unable to renegotiate its loan with Commerce Bank. Two of Windsong Farm's seven employees will remain through the end of the month, he said.

Lewis blamed the club's demise on poor timing and the difficulty of finding new members to pay annual fees of $7,500 in a lumbering economy.

Windsong's 130 equity members and 100 golfing members, who don't hold stock, weren't enough to make the club work financially, Lewis said. He said he doubts the 130 investors will recoup their investment.

James Senske, CEO of Commerce Bank in Geneva, Minn., said the bank won't comment on customer relationships.

"Like many other banks, some customers of Commerce Bank have been hit hard by the current ongoing economic recession," Senske said in a statement. "In these challenging times for its customers, the bank continues to maintain a strong capital position and remains committed to serving its customers in the normal course of business."

Update on 2011-12-14 21:38 by Geoff

**Brad Klein with a few thoughts on Windsong Farm's closure.

City May Buy Back Papago At Bargain Price

Thanks to reader Joel for Lynh Bui report suggesting that the City of Phoenix may essentially buy back Papago Golf Course after it had outsourced the restoration and management of Papago to "the Arizona Golf Foundation’s management arm because the city couldn’t afford to do it." And $10 million in debt later, it went into default.

Those close to the matter say Phoenix is looking to spend $1.5 million to $2 million to buy the debt from Compass Bank and take complete control of the golf course.

Phoenix already regained control over management of the golf course, which it is temporarily outsourcing to a private company. But if Phoenix bought the debt from Compass Bank, the city’s investment would retire the debt completely.

If Phoenix didn’t buy the debt, Compass Bank could sell the debt to another investment company or bank and the golf course would still be in debt of $10 million, just to another entity.

Trump National North Carolina?

Thanks to reader Bill for Kerry Singe's look at the Trump's possible purchase of Point Lake and Golf Club, a Greg Norman design with a Cape Cod themed clubhouse. Cue the chandeliers!

The club's board of governors invited the Trumps, whose company owns 12 clubs, to consider purchasing the Point more than two years ago.

With a reputation for being lavish and high-end, Trump golf clubs often feature bright, open floor plans, ornate decorations and massive chandeliers. Equally upscale are the prices and fees the clubs charge, say people who have visited the property.

Trump said he and his father share a passion for golf and love building things and shaping land. They are currently building a high-profile and controversial golf project in Scotland.

"We love making things amazing," Trump said.

R.I.P. Ted Forstmann

IMG's chairman and CEO passes.