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Old 08-06-2008, 11:47 AM
 
23 posts, read 84,168 times
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We are considering a home at The Falls Resort in New Ulm. The real estate there has very low prices and there are numerous vacant lots. Does anyone know the history of the development and possible drawbacks other than being way away from everything?
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Old 08-07-2008, 09:07 PM
 
37,313 posts, read 59,984,996 times
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I think you pretty much captured the drawbacks with your commentary--if it were a viable resort the prices would be higher and there would be more competition for vacant lots--
compare that area with other retirement developments like Sun City in Georgetown and the one between Fort Worth and Denton--forget the name now--
those are two I can think of readily and they are doing well
the one south of Denton to me is in the middle of no=where but the homes are selling pretty well....
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Old 09-04-2008, 05:15 PM
 
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Default The Falls Resort

I recently purchased 2 lots in the Falls Resort and am in the process of building my retirement home there. I had the same questions you have. Why hasn't this resort taken off. The answer is it was owned by an eccentric billionaire who had no interest in promoting the property. The only adverstizing is 3 - 4'X6' signs entering the property. Mr. Swam was his name. He passed away this past April. So the rumor is that the trustees will most likely sell the property to a developer or begin development themselves. The golf course is a highly ranked public course. Bob McNair and other investors have purchased the acerage adjoining the north fence of the porperty and have built a 25 acre fishing lake and are building exclusive condos for time shares. It is a risk for sure at this point. Development could go either way. It is a beautiful and peaceful place to live. That's why I'm there.
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