Homeowners pool money, buy community golf course

Homeowners pool money, buy community golf course

Homeowners feared someone might buy the course and replace it with businesses, lowering their property values.
CABOT, AR - For the most part the people in the crowd weren't bidders, they were concerned homeowners.

They live in the Greystone community in Cabot where two golf courses went up for auction Thursday. The homeowners worried that the golf courses might not be golf courses for much longer, depending on who made the winning bid.

In the end, most left relieved. The auction ended with two winning bids: $632,500 for one golf course, called Mountain Springs, and $350,000 for the other, called Cypress Creek.

Mitch Ward is part of the group who put in the second winning bid. He wants to make sure businesses don't pop-up where the course sits now, potentially lowering property values, saying money isn't his group's main concern.

"At this point we don't care," he said. "We just want to see it be a golf course community."

The other winning bidder declined to speak to Fox16, but Ward's group thinks he shares their concerns. That means the Greystone community will most likely keep their courses.

"It really is about the homeowners protecting their property value," said Homeowner Larry Biernacki. "That's what it's always really been about."

The golf course seller has until Friday night at five to accept or reject the winning bids so they're not official yet.
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