On the Market: Timbers Resorts partners up for Irish golf cottages | SteamboatToday.com

On the Market: Timbers Resorts partners up for Irish golf cottages

— Timbers Resorts, developer of One Steamboat Place in Steamboat Springs, among other resorts, has announced a partnership with Kiawah Development Partners, master developer of Kiawah Island and other golf course communities.

Timbers Resorts will launch and oversee the new private residence club at Doonbeg in County Clare, Ireland, called The Links Cottages at Doonbeg. The Links Cottages will allow residential interest ownership in one of Europe’s most desired golf and lodging destinations, with a setting featuring five-star services and amenities.

With The Links Cottages now a Timbers Resorts Residence Club, owners may enjoy residential interest ownership on Ireland’s southwest coast, which also allows membership in the Doonbeg Golf Club plus access to the locations that the Timbers Collection offers.

Easily accessible from Shannon airport, Doonbeg is set along 1 1/2 miles of crescent-shaped beach and may be the last true links course built in Ireland and Great Britain. Designed by two-time British Open champion Greg Norman, the course was named Golf Digest’s “Best New International Course” in its opening year. The Links Cottages at Doonbeg are near the Lodge, which gives owners access to all of the resort amenities including dining venues from renowned chef and lead judge of Bravo’s “Top Chef” Tom Colicchio, the culinary force behind New York’s Gramercy Tavern and Craft.

Membership in the private golf club with purchase assures full access to the course and members’ club areas.

Comprising an average of almost 3,000 square feet, each of the eight cottages offers four bedrooms and living space designed in a country style.

Owners will experience waxed limestone slab and wide-plank old oak floors, timber casement windows, two gas-burning fireplaces, carpets in natural fabrics and reclaimed wooden beams throughout. The launch price per deeded interest is $235,000.

Permit given for $1.78 million North Routt home

Only a few new single-family homes are being built in Routt County this summer, but a Southern California couple is planning one of the most ambitious. The house on Lindley Lane, south of Seedhouse Road near Clark, has a permit value of $1.78 million.

Freddie Mac: Mortgage rates haven’t hit bottom

The Associated Press

Mortgage buyer Freddie Mac reported Thursday that mortgage rates have not yet hit bottom.

The 30-year fixed-rate mortgage fell to a record low 4.32 percent during the week ending Thursday, down from 4.36 percent the previous week and 5.08 percent a year ago. The 15-year fixed also hit a fresh record low, slipping to 3.83 percent from 3.86 percent a week ago and 4.54 percent last year.

The five-year adjustable-rate mortgage averaged a record low 3.54 percent, down from 3.56 percent the previous week and 4.59 percent last year.

“Fed Chairman (Ben) Bernanke reiterated this in his Aug. 27 speech in Wyoming, noting that with inflation expectations reasonably stable and the economy growing, inflation should remain near current readings for some time before rising slowly,” Amy Crews Cutts, deputy chief economist of Freddie Mac, wrote in a statement. “As a result, mortgage rates eased further this week to new historic lows.”

Jumbo loans continue to price a half percentage point or more higher than conforming mortgages.

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