annual report
2019
Hampton Lake Community Association Post Office Box 3278 | Bluffton SC 29910
Hampton Lake Community Association / Annual Report 2019
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COMMUNITY ASSOCIATION BOARD OF DIRECTORS
John Reed
Chris England
Rich DelCore
Ali Seabaugh
Barry Fiebert
Kristen Kopanda
Michael Crom
Chris Lewis
Monte Leath
OFFICERS
Rich DelCore President
Pratt Reed Vice President
Ali Seabaugh Secretary
Fred Chitty Treasurer
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Hampton Lake Community Association / Annual Report 2019
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COMMUNITY ASSOCIATION STAFF
Bryan Rhame General Manager
Robin O’Neill Assistant Manager
Brenda Matthews Club Controller
Catherine Guscio Director of Member Relations
Skip Pratt Tackle Box Manager
Rachel Malo Director of Fun
JP Sheffield Boathouse Coordinator
Gail Garbett ARB Director
Michelle Woodcock Accounting Assistant
Nicole Evans Accounting Assistant
Kate O’Connor Communications Coordinator
Avern Monteque Maintenance Technician
Victoria Jackson ARB Assistant
Ashley Tacklebox Associate
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COMMUNITY ASSOCIATION BACKWATER BILL’S STAFF
Andy Ferrel Executive Chef
Jake Forshey Restaurant Manager
Andrew Hodgins Beverage Supervisor
Antonio Velez Sous Chef
Herman Backwater Bill’s Wait Staff
Alicia Backwater Bill’s Wait Staff
Sabrina Backwater Bill’s Wait Staff
Samoy Backwater Bill’s Wait Staff
Paul Backwater Bill’s Wait Staff
Dayrin Backwater Bill’s Kitchen Staff
Dennis Backwater Bill’s Kitchen Staff
Oliver Backwater Bill’s Kitchen Staff
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Hampton Lake Community Association / Annual Report 2019
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COMMUNITY ASSOCIATION BACKWATER BILL’S STAFF
Josue Backwater Bill’s Ktichen Staff
Veronica Backwater Bill’s Kitchen Staff
Libna Backwater Bill’s Kitchen Staff
Dylan Backwater Bill’s Kitchen Staff
CONTRACTOR SUPPORT
Katrina Polite Security
Gemilee Marquez Fitness Director
Teal Adkins Spa Front Desk Member Services
Joy Burke Landscaping
Tracey Kenton Spa & Fitness Manager
Trevor Wilson Fitness Trainer
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COMMUNITY ASSOCIATION ARCHITECTURAL REVIEW BOARD (ARB) Gail Garbett Director Victoria Jackson Assistant Whitney Brown HLCA Board Member Pratt Reed HLCA Vice President Chris England HLCA Board Member Sandy Leath HLCA Member Sam Brusco HLCA Member Brian Witmer Landscape Architect with Witmer-Jones-Keefer, Ltd. Pearce Scott Architect with Pearce Scott Architects
COVENANTS COMMITTEE Jim Morris, Esq Chairperson Gail Burrer Ted Kerrine, Esq Matthew Nikravesh Paua Stechschulte
COMPLIANCE COMMITTEE Lynn Mickinac Chairperson Frank Roach Karen Couser Ed Kelly Larry Ruocco Mark Anderson Bob Herman Keri Peterson Laura Rosen Mike Saraniero
PROPERTY TRANSFER COMMITTEE Sandy Moldovan, PE Chairperson Scot Ahrnsbrak Sam Brusco Wayne Burrer Monte Leath, CPA Jim Morris, Esq Bryan Rhame (ex-officio)
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Hampton Lake Community Association / Annual Report 2019
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COMMUNITY ASSOCIATION BOARD OF ADVISORS 2018 - 2019
Pat Licata Chairperson
Stephen Kreider Fitness & Recreation
Art Hansen Food & Beverage
Bill O’Toole Grounds & Facilities
Joan Bennett Events
FITNESS & RECREATION COMMITTEE
GROUNDS & FACILITIES COMMITTEE
Steven Krider Chairperson Brian Evans Debbie Gordon Jim Hoffman Michael Kokolakis
Bill O’Toole Chairperson Tim Beedle Chip Chase Fred Chitty Michael ‘Chris’ Christensen Barbara Duffy-Lindblad David Gallant Craig Husted Jim Kiser Ernie Lindblad Pete Marone Charlene Piantanida Michael Sneden
FOOD & BEVERAGE
FOOD & BEVERAGE COMMITTEE COMMITTEE Art Hansen Chairperson Frank Barbieri John Davis Ada Isherwood Brian Lackey Chris Rudd Larry Ruocco Hank Spangler
EVENTS COMMITTEE Joan Bennett Chairperson Kara Hounam Leslie Kimball Anna Levonyak Dawn Wegard
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COMMUNITY ASSOCIATION BOARD OF ADVISORS 2020-2021
Craig Husted Chairperson
Stephen Kreider Fitness & Recreation
Brian Lackey Food & Beverage
Bill O’Toole Grounds & Facilities
FITNESS & RECREATION COMMITTEE
GROUNDS & FACILITIES COMMITTEE
Steven Krider Chairperson Brian Evans Debbie Gordon Nicolette Hyland Jarrod Ison Michael Kokolakis Teresa Moore Lauren Schroeder
Bill O’Toole Chairperson Bill Camp Chip Chase Fred Chitty Michael ‘Chris’ Christensen David Gallant Ernie Lindblad Mitch MacLaughlin Pete Marone Matthew Nikravesh Michael Sneden Brad Wegard Ed Weglarz
FOOD & BEVERAGE FOOD & BEVERAGE COMMITTEE Brian Lackey Chairperson COMMITTEE Diane Barber Benjamin Block Art Hansen Kara Hounam Ada Isherwood Mollyann Kossack Frank Roach David Schroeder Dawn Wegard Larry Ruocco
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Hampton Lake Community Association / Annual Report 2019
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PRESIDENT’S LETTER TO MEMBERS Fellow Residents I am pleased to have served you as President of the Board of Directors for Hampton Lake. It is rewarding when we, as Owner Directors, make progress on projects that help our community long term. We are fortunate to be living here. Bluffton has great schools, great places to shop and dine, the Atlantic Ocean and the Intracoastal Waterway just minutes away, and we have a wonderful neighborhood that we call home, Hampton Lake. As I said in last years letter, this role has given me a new appreciation for the work required to make Hampton Lake a wonderful community. Our community has continued to develop. We started 2019 with 850 homes and 72 under construction for a total of 922. On January 1, 2020, we had 985 homes and 59 under construction for a total of 1,044. This is an increase of 122 homes. Construction activity is skewing slightly to the new areas with 34 units under construction in Sandhill and 25 units in Phase 1 & 2. Our financial position is strong with good fiscal management by our General Manager, Bryan Rhame, and his staff. We showed revenues of 6.375 million in 2019 which provided for our staff and amenities, while also setting aside a reserve of $498,361 for capital repair and replacement. Our capital reserve now stands at $1,982,720 (After 2019 transfer of $530,861) which is on target with the latest Capital Reserve study update completed on 09/20/18. While 2018 was a year of learning for your Owner Directors, 2019 was a year of accomplishments which took a significant amount of our time, and the time of the Board of Advisors and our Management. • Hargray - We signed a new 5-year contract after months of negotiation, evaluation and discussions with both Hargray and Spectrum. This saves most residents (unless on an introductory deal) up to $240/year and some residents are getting faster internet speeds. • Land Purchase - We concluded months of due diligence and authorized the purchase of two parcels of land to preserve lake maintenance access, and provide space for a future expansion if needed. • Budget Long Look – We initiated an updated budget “long look” to evaluate future operational costs, loss of commercial permits/ARB fees and increased number of dues paying members to insure we do NOT have to increase dues significantly in the future. • Staffing all new BOA positions – We spent time and encouraged new people to volunteer for the Board of Advisor positions. I am happy to say we have a good balance of returning members (18) and new members (14) including 11 members who have children living at Hampton Lake. • Road Repair - We completed the due diligence with management/legal and authorized and completed the Hampton Lake Drive road repair by the Dry Dock. • Benchmarking – We conducted multiple meetings with Hampton Hall to understand issues and costs they are facing with their recent developer turnover. • Expanded the Compliance Committee - to 10 members, had open call for volunteers, and filled the roles and appointed a new Chair.
Hampton Lake Community Association / Annual Report 2019
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PRESIDENT’S LETTER TO MEMBERS Here is what we will be working on in 2020 with your management and the Board of Advisors: • Startup of new gates, security software, and RFID for vehicles • Prepare for a possible Developer turnover in 12-24 months • Develop strategy on how to utilize the Party Barn for events and activities • Help residents understand Owner Director work, encourage members to consider running for the 6 Owner Director positions we will need at turnover. This year, despite encouragement and discussions on our part, only four people volunteered to run for the four positions in this year’s election. This is a great community, with many interesting, talented residents. We are financially sound, we have a great management team and importantly, have a number of residents who volunteer their time and talents to run this community. Volunteers get nothing in return and spend time in meetings or behind a computer so we can continue to grow and improve our community. They do it because they love the community and want it to be successful. So, thank a volunteer, consider volunteering yourself, and seek first to understand the actions and decisions of your Board of Directors, Board of Advisors and Management. Most of the volunteers would love to tell you about their work and the passion they have for this community. Respectfully Submitted,
Rich DelCore President
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Hampton Lake Community Association / Annual Report 2019
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DECLARANT’S LETTER TO MEMBERS Dear Members, Last year the Reed Group chose “Progress” as our word for the 2019 calendar year. Progress speaks to the maturing of a vision – one that started in 2001 as an idea sketched by John Reed on a yellow piece of paper – and became the #1 selling community of its kind in the region. Indeed, progress is apparent on many levels at Hampton Lake, as the community is taking on a more mature identity. Resident homes now number over 1,000 (some homes as old as 15 years if you can believe it.) Our mix of residents is as diverse as ever with a broad range of ages, backgrounds and hometowns. In fact, in 2019, 165 new households from 27 different states decided to call Hampton Lake home. It is no surprise why so many of you chose to live here, Hampton Lake is a place where people are having fun! A lot of fun, from over 50 member events such as the amazing Easter brunch, the can’t-miss July 4th event schedule, lively Market Days, monthly meet your neighbors party, fishing tournaments, a record-breaking 12th annual Tiger Bass Race and the list just goes on. I might add as well, that the rate at which our members are enjoying the terrific cuisine and tasty beverages at Backwater Bill’s, it could mean that our food purveyors and wine distributors might get to retire early! Speaking of the Club, it’s worth pointing out that our employees are some of the best in the business. Under Bryan Rhame’s direction, everyone is working together toward making “progress” in all areas at Hampton Lake, ensuring that you and your guests enjoy life at the lake. 2019 saw additional progress at the Parkside Amenity Center with the addition of the sport court, bocce ball courts, the massive grassy park, rubberized ¼ mile track, and the beginning of construction of the much anticipated pool and activity barn facilities. The new main entrance to the community on Bluffton Parkway was completed by year end and is slated to be operational in early 2020. “Phase 3,” which we have commonly referred to as the original expansion of Hampton Lake opening in 2015, is now 100% sold out. The initial phases in the “Northern Sandhill” tract which opened lot sales in 2018, is also nearly sold out, with only 17 custom developer lots remaining. Our final phase of development in the Northern Sandhill, will also be the final phase of the community. This release of 62 homesites started in late 2019 and will be completed Spring of 2020. As we look toward the coming year, our aim as a developer is to complete Hampton Lake’s vision in a way that makes a meaningful impact on members and their families for many years to come. This vision remains to deliver unparalleled amenities that members are proud of, to bring value to the community’s real estate, and create connectivity that brings people together to engage with family, neighbors, and with nature. Thank you for bringing out the very best in our neighborhood, our community, and for your commitment to make Hampton Lake a remarkable place for Lake Life to happen.
Sincerely,
Pratt Reed CEO Reed Group
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BOARD OF ADVISOR’S CHAIRPERSON’S LETTER TO MEMBERS The volunteers who served on the four advisory committees in 2019 worked hard to represent the evolving needs of the community, focusing on priorities raised in the December 2017 Member Survey, with emphasis on enhancing two-way communication and improving satisfaction with security and the fitness center, and in providing a variety of events and activities that appeal to the wide-ranging interests of the community. The Board of Advisors’ focus on two-way communication included: • Monitoring LakeViews and managing the prompt publication of the Q&A. In 2019, 191 questions were answered. • Launching a comprehensive member survey, updated to include new features and amenities. • Partnering with management and staff to facilitate proactive communication to members, using the weekly Community Update, re-posts on Nextdoor, and other announcements as necessary. • Monitoring the HLCA website, working with staff to keep it current, organized, and adding documents • and information useful to members. A full list of committee accomplishments would be too long for this space, so I’ll just list a few highlights.
Grounds & Facilities After significant research and evaluation, G&F recommended acquiring a new gatehouse system, including security cameras, to improve efficiency at the gatehouse, enhance safety and security, and provide stronger accountability and accuracy for cash handling. At the request of the GM, G&F researched best practices for golf cart operations in residential communities and drafted new guidelines for golf carts in Hampton Lake. The GM approved the committee’s proposed new guidelines for HL residents. Several G&F Committee members partnered with the Fitness & Recreation Committee to conduct a comprehensive assessment of conditions on the nature trails (including sidewalks). The work group prepared a detailed assessment report similar in depth and scope to the Roads Assessment report completed by the committee last year. G&F Committee members conducted initial research regarding the feasibility of having another company besides Hargray provide internet service in Hampton Lake. Since HL had an existing contract with Hargray, this initial work was continued by the GM, the owner representatives of the BoDs, and by the developer. Eventually, a new agreement was reached with Hargray that provides HL residents with upgraded service at a lower cost. Additional costs savings and incentives were also extended to the HLCA. At the request of the GM, a work group conducted market research on vehicle storage facilities in the Bluffton area. Average fees for comparable storage facilities in the area were used as a benchmark to compare with fees charged at the HL Dry Dock. The work group provided the GM with comparative pricing information for outside storage facilities and with recommendations for the Dry Dock.
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Hampton Lake Community Association / Annual Report 2019
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BOARD OF ADVISOR’S CHAIRPERSON’S LETTER TO MEMBERS Fitness & Recreation Committee members worked to enhance the Fitness Center with new rowing machines, recumbent linear cross trainer bike, fitness storage cubicles, free standing sanitation wipes and trash dispensers, Vertical knee/ chin/dip machine, Bocce score boards, and the new carpet. F&R worked with HLCA management and our subcontractors to insure insect control plans for the phase 3 amenities became part of the contractor support Focused the 2019 pool season on improving the clarity of the water through incorporation of a new filter system, addition of a chemical dispenser system, and working with the contractor for proper maintenance. Provided HLCA Management assessments and recommendations for the Spa & Fitness Center Contractor new contract, and an assessment of the Mar 2020 expiration of the Leasing contract for the aerobic equipment.
Events The Events Committee focused efforts on expanding options to events and activities that appeal to different demographic groups throughout Hampton Lake, families in particular. Approximately 40% of events in 2019 were family-oriented. The addition of Music Bingo as a new game night is a good example. Making sure each event “breaks even, or better” continued to be a focus. Events that could not attract enough members to break even were cancelled. 46 events were held in 2019, in addition to the monthly Prime and Pasta and Meet Your Neighbors.
Food & Beverage Committee The Food & Beverage Committee continued its focus on helping Backwater Bill’s to effectively manage expenses and increase operating hours. BWB has exceeded revenue projections while performing better than expected in expenses, and with additional special menu nights, such as Asian Night and Mexican Night, increased operating hours by almost one additional night a month. Member satisfaction with Backwater Bill’s is at an all-time high with 91% of members indicating that they were Very Satisfied or Satisfied with the overall dining experience. Serving as Chair of the Board of Advisors for the past four years and working with the people on these committees has been a privilege. I am grateful for the time and effort that the committee volunteers devote to the community, not just attending committee meetings, but in doing research, legwork, and listening to and following up on member feedback.
Pat Licata
Board of Advisors Chair
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2019 HLCA OPERATIONS TEAM Hampton Lake had a few changes in personnel in 2019. The majority of the changes occurred in the Spa and Fitness department. Gemilee Marquez replaced Kevin Felton as our Fitness Director. Gemilee’s energy and organizational skills have begun to exhibit a positive impact on the group classes and the Personal Training Programs being offered. Heather was replaced by Tracy Kenton, who has been given the responsibility of managing the entire operation. With Tracy’s experience in both Fitness and Spa operations, we anticipate improvements in our owners’ experience with our spa services and with the timely repair and maintenance of our equipment. We also added a part time trainer, Trevor Wilson who will enable a more diverse and flexible schedule with the increased demand for personal training. Jake Forshey also joined our team as Food and Beverage Manager, Jake has already begun to make improvements in the F&B team dynamic and we are looking forward to his influence in other areas as well. Finally, Kate O’Connor became our Communication Coordinator to replace Kirby Garbarini. Kate is responsible for improving all lines of communication, initiating several social media pages to reach our widely diversifying membership.
FOOD & BEVERAGE Hampton Lake’s Food and Beverage department consists of three separate operations, Backwater Bill’s, Member Events and Private Events. In 2019, our main goals were to optimize the reservations for Friday and Saturday nights in BWBs, increase the number of food and beverage opportunities for owners with member events and to conduct private parties with as little inconvenience to our owners as possible. These goals were all in accordance with survey results and owner feedback. The entire F&B operation cost $375,527 for 2019. We were able to increase the number of covers (people served) by 5,200. We scheduled more member events, 96 in total, 12 of which were canceled due to lack of participation. Member Events contributed $14,000 to the bottom line. For the first time we were responsible for booking, coordinating and conducting all private events. We were able to contribute $45,041 to the food and beverage bottom line. While the cost of the operation rose slightly over 2018, just under $44,000, we were able to increase the owner satisfaction and accomplish the majority of our goals in 2019.
BACKWATER BILL’S Backwater Bill’s continues to be one of our owner’s favorite and most important amenity. The most recent survey results stated that approximately 88% of owners responding felt BWBs was important or very important. Satisfaction with food quality increased by 5% and service satisfaction increased by 9%. We also saw increases in overall satisfaction at the Tower Bar and some increase in operational hours. Efforts were made in the ongoing staff training including appropriate steps of service and the importance of proper food handling through the Serve Safe program. Although we had very little full-time employee turnover, we did hire Jake Forshey as our Food and Beverage Manager. Thank you to Chef Andy, Jake, Andrew and the team for continuing to improve overall food and beverage operations. Backwater Bill’s generated $704,683 in revenue with total costs of $1,139,251. We continue to work to establish a proper balance of expenses, member satisfaction and hours of operation in order to keep cost in an acceptable range. Increasing Member and Private Events revenue in the future will aid in accomplishing this goal. BWBs currently incorporates all expenses associated with employer costs, Capital Reserve funds and repair and maintenance of food service equipment within the entire F&B operation.
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2019 HLCA OPERATIONS MEMBER EVENTS The number and types of member events continue to increase. In 2019, although we were able to generate a positive $14,000 in revenue, several circumstances prevented us from reaching the full revenue potential. Mandatory evacuation during the Labor Day Holiday and Thanksgiving occurring late in the calendar made it difficult to conduct several events that in the past have been very well attended.
Schedule of Events: January Wine Club (x2), Armadillos, Meet Your Neighbors, Lunch & Learn, S’mores (x2), Prime & Pasta, Oyster Roast February Wine & Design, S’mores (x2), Wine Club (x2), Valentine’s Day Dinner, Armadillos, Lunch & Learn, Meet Your Neighbors, Prime & Pasta March Lakeside Village Market, Fashion Lunch & Learn, Game Night, Wine Club (x2), St. Patrick’s Day Buffet, Meet Your Neighbors, Prime & Pasta, Armadillos April Wine Club, Armadillos, Game Night, Meet Your Neighbors, Passover Seder, Easter Brunch May Derby Party (Drinks only), Wine Club, Game Night, Tiger Bass Tournament, Mother’s Day Brunch, Armadillos, Meet Your Neighbors, Lunch & Learn, Lakeside Village Market, Memorial Day Cookout June Wine Club, Club Night, Asian Night, Armadillos, Tower Bar Bash, Meet Your Neighbors, Kids Kamp, Prime & Pasta July July 4th BBQ, Wine Club, Mexican Fiesta, Kids Kamp (x2), Armadillos, Game Night, Meet Your Neighbors, Prime & Pasta August Kids Kamp, Wine Club, Armadillos, Game Night, Meet Your Neighbors, Chillin’ & Grillin, Prime & Pasta September Labor Day Buffet, BBQ Buffet, Armadillos, Game Night, Lakeside Village Market, Meet Your Neighbors, Prime & Pasta, Wine Club October Holiday Entertaining Lunch & Learn, Break Fast, Game Night, Armadillos, Meet Your Neighbors, Prime & Pasta, Country Line Dancing, Wine Club
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Hampton Lake Community Association / Annual Report 2019
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Hampton Lake Community Association / Annual Report 2019
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2019 HLCA OPERATIONS November
Tower Bar Bash, Bourbon & Wine, Captain’s Cup, Game Night, Armadillos, Lakeside Village Market, Wine Club (x2), Meet Your Neighbors, Asian Night, Oyster Roast
December
Gingerbread Decorating, Santa Brunch, Wine Sale, Game Night, Holiday Dinner & Boat Parade, Meet Your Neighbors, New Year’s Eve Party
PRIVATE PARTIES Private parties once again were generated from a variety of sources. This was the first year in which we did not have a private catering partner agreement with an outside company. All of the leads were generated and contracted in-house with our events planner. $45,041 in positive revenue was contributed to the bottom line. Rachael has put a greater emphasis on soliciting Private Parties which has led to an increase in bookings for 2020.
Schedule of Events: January Michael Sweet 16, Belfair Holiday Party, Posner Baby Shower, Vietnam Vets, Osprey Village, Tascoe Party February Matthews Birthday Party, Block Party, HLWG Social, Vietnam Vets, Lowcountry Community Church, May River Medicare Seminar, HLWG General Meeting/Luncheon March Vietnam Vets, Travel Club April Ken Lewis Dinner, Servati Surprise Birthday Party, Taste at Hampton Lake, Vietnam Vets, HLWG General Meeting, Karwath Kids Day, Lowcountry Homeschool Prom May Vietnam Vets, Tresa Dorris Meeting, HLWG Meeting June Horowitz Ceremony, Vietnam Vets, Muncy Wedding July Vietnam Vets, Shoreline Client Party August Vietnam Vets, Haley 50th Anniversary, CrossFit 843 Party, Brooks Wedding, HLWG General Meeting September Vietnam Vets
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Hampton Lake Community Association / Annual Report 2019
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2019 HLCA OPERATIONS October DR Horton Team Building, Tiger Bass Race, HLWG Volunteer Night, Joan Kelly Meeting, Vietnam Vets, Diaz Wedding November DeMars Memorial, Vietnam Vets, Phyllis Pritchett Luncheon December Builder’s First Source Christmas Party, Sungate Medical Christmas Party, Puplava Wedding
SPA & FITNESS CENTRAL The Spa and Fitness operation, which includes the pool complex, tennis, pickleball and playground areas continued to undergo capital reserve and maintenance repairs and upgrades. In 2019 over $305,000 was spent in Capital Reserve repair and replacements. Examples of the capital expenses include the resurface of Shrimp’s Puddle, refurbishment of the Lazy River Bridge and the completion of the remodel of the Hydrotherapy pool. The interior of the facility was also painted and new carpet installed. Revenue increased by $8500 over 2018. We saw slight increases in Private Training, Pilates, Tennis Clinics and Massages. We saw a significant increase in manicures and pedicures. Although we did realize a slight decrease in Group Classes, Facials and Tennis Lessons. With the addition of Gemilee, Trevor and Tracy, we look forward to more improvements in Group Classes, training and the overall Spa experience.
LAKE/FISHING
Quarterly water quality was monitored at seven sites on Hampton Lake. Parameters monitored included pH, alkalinity, hardness, turbidity, dissolved oxygen, and water temperature. Seasonal variation observed was considered normal and results were similar to the previous year. Electrofishing survey results documented a continuing downward trend in largemouth bass relative weights. Hampton Lake anglers have adopted a bass harvest program and have made great progress toward reducing bass numbers to improve growth.
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2019 HLCA OPERATIONS Water quality results indicate the quality remains in good condition and similar to 2018 results. Seasonal oxygen levels were normal with minimal to no stratification in non-aerated zones. Since the application of lime during winter 2018, pH remains at or above neutral (7) and alkalinity and hardness remains above 50 mg/l for six of the seven sites. The Sandhill site had a mean pH of 6.67, mean alkalinity of 62 mg/l, and a mean hardness of 56 mg/l. As anticipated, this site also had the highest mean turbidity value (4.9) however two other sites had turbidity values in the low fours. A report of the annual sportfish survey was provided in June 2019. The survey documented continued decline of largemouth bass relative weights, a result of over-crowding of bass. Bass harvest has been recommended annually. In fall 2019 the Hampton Lake Fishing Club adopted our recommendation to harvest bass based on relative weights by using the SmartFish App. This approach enables anglers to harvest bass with poor relative weights while releasing bass that are in good shape. Previous bass harvest recommendations were based solely on specific sizes (length) of bass and the club harvested about 200 lbs. of bass less than 14 inches at spring tournaments. Beginning in October 2019 club anglers employed the SmartFish App to harvest specific bass: harvest all bass with relative weights below 65 and harvest bass <16 inches with relative weights < 80. The SmartFish App gives anglers the ability to calculate relative weight when a fish is caught. Relative weight is a performance metric used by most fishery management professionals to determine overall bass population condition. The harvest parameters were based on electrofishing results that reflected the status of the entire bass population. As we move into 2020, we may adjust the harvest criteria to help reach our total harvest goal of 1,000 lbs. The Hampton Lake Fishing Club continues adding structure to the lake to improve fish habitat. An idea for bluegill spawning habitat resulted in fishing club members designing a prototype gravel bed that can be added to shallow spawning areas. Black crappie over 2 lbs. have been caught and more anglers are targeting this popular sportfish. Two successive years of a healthy shad spawn has helped the crappie fishery as well as the bass fishery. We would like to thank the fishing club for all of the initiatives to improve Hampton Lakeâ&#x20AC;&#x2122;s fishery. The two Community hosted fishing tournament continues to be a great way to get out and enjoy a fun day or two on the lake with friend and family the event includes food and prizes. This yearâ&#x20AC;&#x2122;s spring one day event had 16 teams participate in our one-day Tiger Bass Open with the following results:
2019 Tiger Bass Open
1. Mark Anderson & Rocco Guerro 14.1 lbs 2. Mike Beckwith & Gary Shepard 13.09lbs 3. Jeff Prange & Bobby Fralix 11.97lbs
Big Fish: Mike Beckwith & Gary Shepard 3lbs 15.5 oz Most Culls: Gary Meagher & Bill Meacham 20 culls 118.28lbs of fish were weighed.
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Hampton Lake Community Association / Annual Report 2019
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2019 HLCA OPERATIONS This year we had 12 teams participate in the Captain’s Cup our fall member-guest format conducted over a weekend. The results are listed below:
2019 Captain’s Cup
1. Gary Meagher & Steve Farress with 21.044 lbs. 2. Jack Horowitz & Rob Bennett with 20.131 lbs. 3. Lee Steinberg & Barry Descaro with 15.688 lbs. Biggest Fish was Rob Bennett at 4.394 lbs. The Hampton lake Fishing Club also developed and implemented many various events and projects. They have been very successful in increasing the participation and initiating projects to improve the Hampton Lake fishery. A big thank you to the entire Fishing Club!
THE BOATHOUSE & TACKLE BOX The Boathouse operation remained virtually flat in 2019 coming within $6,400 of 2018. We continue to look for new ways to attract owners to shop for gifts, logo apparel, fishing tackle and other items in the Tackle Box. Guided fishing tours brought $3,000 in revenue which doubled 2018. $3,300 was spent at the Outpost to refurbish the gravel road, parking and pavilion area. We spent over $13,400 on repair and maintenance costs of Doc’s Boathouse in 2019.
Hampton Lake Community Association / Annual Report 2019
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2019 HLCA OPERATIONS Capital Reserve Expenditures Below you will find the list of items that were funded by the Capital Reserve repair and replacement account. This includes the Amenity Circle, pool resurfacing and equipment, Fitness Center Building repairs, and HVAC replacements. Many of the items were planned, others included items that experienced unforeseen failures but which are covered in the Capital Reserve study. Many items last longer than their projected useful life while others may fail earlier. The important point is we have the available funds to address maintenance, repair or replacement of all of our assets. HAMPTON LAKE COMMUNITY ASSOCIATION, INC Schedule of Capital Reserves - December 2019 YTD ACTUAL
2019 BUDGET
VARIANCE
1,995,276
1,995,276
0
498,361
506,441
-8,080
-2,493,637
2,501,717
-8,080
34,500
0
-34,500
R & M - Audio Video
0
0
0
R & M - Boats
0
0
0
88,823
171,671
82,848
R & M - Bulkheads/Docks/Ramps
0
0
0
R & M - Fitness Equipment
0
0
0
R & M - Furnishings
0
0
0
R & M - HVAC
0
0
0
R & M - Juice Bar Equipment
0
0
0
R & M - Parks/Tracks/Trails
0
0
0
34,800
0
-34,800
154,584
17,047
-137,537
4,993
7,367
2,374
0
0
0
213,161
285,000
71,839
R & M - Sports Courts
0
0
0
R & M - Water Heaters, Sauna, Steam Equipment
0
0
0
R & M - Other
0
0
0
R & M TOTAL
496,361
481,086
-15,276
2019 TOTAL CAPITAL RESERVE EXPENSES
530,861
481,085
-49,776
Deferred Cap Reserve Revenue - Prior Deferred Cap Reserve Revenue - Current TOTAL DEFERRED CAP RESERVE REVENUE 2019 CAPITAL RESERVE EXPENSES Fixed Assets - Replacements
R & M - Buildings
R & M - Playgrounds R & M - Pools R & M - Pool Equipment R & M - Restaurant Equipment R & M - Roads/Sidewalks/Bridges
VARIANCE EXPLANATIONS CAN BE FOUND IN THE P&L VARIANCE REPORT PRIOR YEAR EXPENSES 2017
164,015
35,000
-129,015
2018
171,063
319,809
148,746
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Hampton Lake Community Association / Annual Report 2019
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2019 HLCA OPERATIONS Communications In a rapidly growing and changing community such as Hampton Lake, proactive information sharing by management, the Board of Directors, and the developer, as well as robust channels for two way communication, are critical to the success of Hampton Lake and the satisfaction of its members. In 2019, HLCA hosted seven meetings open to all members. The Board of Directors continued the practice of enabling members to submit questions online before the meeting, in addition to being able to ask questions verbally. We also added the opportunity for member feedback with an on-line survey following the meeting. The advance questions and the meeting feedback allow us to continually improve member meetings and remain attuned to issues that are important to members. We continue to post financials, meeting minutes and other documents of interest to members on the HLCA website. As per the Hampton Lake Member Survey, satisfaction with the member website continues to increase. In 2019, 83% of members responded that they were satisfied with the member website, up from 73% in 2017. LakeViews, a mechanism that allows members to ask questions and/or make suggestions and get prompt written answers continues to be well-used in 2019. LakeViews has been instrumental in providing an avenue for owners to get accurate information to specific questions from a variety of sources, including the general manager, the developer, and to provide input to the advisory committees. A significant number of questions in 2019 were referred to the advisory committees, especially Grounds & Facilities, which is the most popular topic among LakeViews questions. Members submitted 191 questions and comments to LakeViews in 2019, up from 168 in 2018.
Hampton Lake Community Association / Annual Report 2019
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2019 HLCA OPERATIONS We continue to use the popular weekly Community Update and the weekly Backwater Bill’s News to provide timely updates and notices of upcoming events. Every Sunday the weekly update provides notice of board meetings, distributes meeting minutes, calendar and other important documents. The “Save the Date” section gives advance notice of events up to three months in advance, thus allowing members to plan to be available for their favorite member events. In December 2019, Hampton Lake launched an Instagram account to provide an additional mechanism to communicate with members about events. Although it’s still in its infancy with 113 followers, we plan to leverage Instagram as another tool for communicating with members. Member communication continues to require a balancing act as we work to find the sweet spot between too much information and not enough. We were happy to note that our community survey reported high levels of satisfaction with member communications, including 95% satisfied or very satisfied with the timeliness of member communications and significant improvements in satisfaction with most of the communication vehicles that we’re using. Communication will stay a top priority for HLCA. How Satisfied are you with the following member communications provided by Hampton Lake Management? December 2017
September 2019
Member website
73%
83%
Weekly email update
86%
91%
LakeViews
79%
81%
Monthly events calendar
85%
88%
Backwater Bill’s News
82%
85%
Facebook page
56%
56%
Gate sign
71%
69%
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Hampton Lake Community Association / Annual Report 2019
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Hampton Lake Community Association / Annual Report 2019
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HAMPTON LAKE MEMBER SURVEY 2019 In order to measure member satisfaction, as well as gather data for setting future goals and priorities, the Hampton Lake Member Satisfaction Survey was conducted September 24 through October 9. The survey was updated to reflect new amenities and other additions, but maintained many of the same questions as the surveys previously conducted in 2014, 2015, and 2017 so that progress and trends can be observed. The survey was designed, developed and deployed by Hampton Lake member Patricia Licata, PhD, who led a professional market research company before retiring in 2019. Dr. Licata, who also served as Chair of the Hampton Lake Board of Advisors, volunteered her time to conduct the survey and prepare reports for members, management, the Board of Directors, and the Hampton Lake Advisory Committees. The survey was sent to 1746 Hampton Lake members. The survey covered the full range of amenities, such as the lakes, pools, restaurant, and fitness center, as well as key community features, such as security and landscaping. The questions were designed to measure how important each amenity or feature is, as well as how satisfied members were with those features and amenities. Members were also asked to report on how frequently they used each amenity. The survey also included open-ended questions designed to allow members to comment or make suggestions.
Key Results 883 members, 51%, submitted a survey. The large number of responses indicate an engaged and involved membership. As anticipated, a great majority of respondents, 87%, were full time residents. The responses revealed that Hampton Lake owners are generally satisfied with most amenities and community features. Satisfaction with Backwater Bill’s is strong and continues to improve in most areas. Member comments indicate that satisfaction with operating hours is low because they would like to see the restaurant open more days of the week. 8. How satisfied are you with the following at Backwater Bill’s? March 2014
Dec 2015
Dec 2017
Overall dining experience
Sept 2019
CHANGE 2017-19
91%
Quality of the food
82%
79%
90%
95%
5%
Service
83%
78%
83%
92%
9%
Price/value
63%
63%
77%
82%
5%
Atmosphere
90%
82%
84%
83%
-1%
Operating hours
41%
39%
42%
34%
-8%
Variety/selection of menu
57%
59%
73%
78%
5%
Special events
74%
73%
73%
69%
-4%
85%
92%
7%
Accuracy of bill
[Shaded cells indicate the question was not asked in that year’s survey]
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Hampton Lake Community Association / Annual Report 2019
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HAMPTON LAKE MEMBER SURVEY 2019 Satisfaction with the pool complex was 89%, compared to 88% in 2017. Satisfaction with the fitness center increased, from 81% in 2017 to 84%. Key areas for improvement include: • Enforcement of rules. This includes rules at the pool and the fitness center, as well as for parking and speed enforcement. • Monitoring use of Hampton Lake amenities, particularly the pool, to ensure access by members and authorized guests only. • Hours and capacity at Backwater Bill’s and the Tower Bar. The member survey included 22 open-ended questions, including the final question, “Please use this space to add any feedback that you have not already provided in any of the previous questions.” Although many Hampton Lake members submitted suggestions and ideas for improvement, 103 of the 266 comments in this final question included expressions of appreciation for Hampton Lake, for the survey, and/or the neighbors who volunteer their time to continually improve Hampton Lake and make it an even better place to live.
Action Planning The purpose of the Hampton Lake Member Survey was to measure member satisfaction and gather data for setting future goals and priorities. The Board of Advisors and the advisory committees will work with management and the Board of Directors to develop specific action plans related to the priorities identified.
Responses Shared with the Community A report containing graphs of the numerical data was shared with all Hampton Lake members shortly after the survey closed, and the results are posted on the member website. Highlights of key data and areas of focus were presented at the Board of Directors Meeting on November 17.
Hampton Lake Community Association / Annual Report 2019
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CHARITY EVENTS Hampton Lake continues to be a very charitable community. Members fundraise for many worthy charitable causes and organizations. Many more members donate time and money to help make these efforts successful. Hampton Lake has members serving on local charity boards and others providing volunteer services to organizations from Meals on Wheels to NHC to Beaufort Jasper Volunteers in Medicine to the Humane Society. There are too many to name them all here. Giving back is what HL does as a community. As an example, here are four community organizations that made a huge impact during 2019 for local charities: the Tiger Bass Race committee, 100+ Women Who Care, the Cure Childhood Cancer community fundraising effort, and the Hampton Lake Women’s Group.
12th Annual Tiger Bass Race/Walk This annual charity event is a full year effort by the TBR Committee from planning, obtaining company and individual sponsors, to marketing the event and finally making the race day operate smoothly where participants, volunteers and spectators participate in a fun-filled event and community experience. This event was once again at the end of October when the weather is cooler, less humid and more accommodating to all involved. The Event consisted of a 5K Run/Walk, a 10 K Run and a one mile Fun Run/Walk for the younger children and more Senior participants. Over 500 race participants and large numbers of spectators and volunteers loudly cheered the participants over the race routes through the original neighborhoods of Hampton Lake and the newer sections in Phase 3 and Crystal Lake. The Event also included fun-house games for the children to participate in as part of the days activities. A free barbecue picnic, sponsored by Hargray Communications followed the Race/Walk Events. This year’s Event was also very successful in its charity based theme. The Committee solicits local charities to submit grant applications for special projects that they conduct within their own charity mission in either the Health, Education, Social Service, or Environmental arenas.
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Hampton Lake Community Association / Annual Report 2019
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This yearâ&#x20AC;&#x2122;s Event provided $32,500 to ten local charities plus a donation to the Bluffton Fire Department for their support during the race. The recipients of this yearâ&#x20AC;&#x2122;s Event were Bluffton Jasper County Volunteers in Medicine, Bluffton Self Help, Crossroads Community Support Services (Backpack Buddies), Cross Schools, Heroes on Horseback, Hospice Care of the Lowcountry, Lowcountry Legal Volunteers, Med-i-Assist, Inc., Second Helpings, and The Literacy Center. Since its inception in 2008, this special Community Event has donated over $200,000 to local charities within the Bluffton community. The Committee wishes to thank and congratulate all those HL residents who participated, donated, volunteered and/or cheered us on to make the 2019 Event the most successful one to date. We also invite all to participate in the 2020 Event and carry on this very special HL Community Event tradition.
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Hampton Lake Community Association / Annual Report 2019
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100+ Women Who Care, Greater Bluffton Chapter 100+Women Who Care Greater Bluffton is an organization made up of women who want to improve the lives of those living in Bluffton by combining funds to make a large local impact in just one hour. They meet quarterly. Hampton Lake members and other local residents may join the organization. Three local area charities are presented at the hourly quarterly meetings. The attendees at the meeting vote and one of the three charities receives a contribution of all the money collected from the members. Each member commits to donating $100 per meeting on a quarterly basis ($400 annually.)
This local chapter, part of a national alliance, was organized by Hampton Lake residents Darice Ahrnsbrak, Mary Blake, Carolyn Day, Barbara Hege and Pat Roth in February 2015, with the first meeting in April. Bari Lee provides technical support for the website page. The group is sponsored by local business Advanced Integrated Controls which pays for Lakeview Room rental and administrative costs. Through December, 2019, 100+Women Who Care Greater Bluffton raised $160,500 in just nineteen one-hour meetings. In 2019 alone a total of $43,800 was awarded to the following charities: Heroes on Horseback; Neighborhood Outreach Connection; Child Abuse Prevention Association; and Programs for Exceptional People. The group starts 2020 with 112 members and continues to grow. Go to www.100wwcbluffton.org for more information
Hampton Lake Community Association / Annual Report 2019
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CURE Childhood Cancer - In Honor of Hampton Lake’s Michael Mugrage As many Hampton Lakers may know, our local resident, teenager Michael Mugrage’s brave battle with cancer moved and inspired many people. Not just throughout our own community, but throughout the region. Michael’s wish, before his passing, was to support CURE Childhood Cancer as his designated charity. CURE had a gold mailbox ribbon fundraiser that coincided with Michael’s battle, and in 2018, many HL volunteers made and distributed hundreds of gold bows that members hung on their mailboxes during the month of September in memory of Michael. Once again, this year, Hampton Lake residents displayed gold bows on their mailboxes for two weeks during the month of September 2019. 200 residents purchased the bows, raising $5000. Other communities joined Hampton Lake’s effort and a total of $8000 was raised. Since Michael’s passing in August 2018, Michael’s Fund 4 a CURE was created, a named fund with CURE Childhood Cancer, a 501c organization. To date, over $25,000 has been raised for Precision Medicine, which provides a child fighting cancer a customized treatment for a better chance of survival and less side effects.
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Hampton Lake Community Association / Annual Report 2019
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HAMPTON LAKE WOMEN’S GROUP The Hampton Lake Women’s Group (HLWG), founded in 2010, continues to be an active component of the Hampton Lake community. In 2017, HLWG became incorporated as a 501c7 organization. Over 400 members strong, the group promotes friendship, and fun for the female residents of Hampton Lake. From welcoming new residents to new member socials, holding 4 annual meetings featuring guest speakers such as Vera Stewart, a Southern cookbook author, or Amber Kuehn, a local naturalist and charter boat captain, delicious luncheons, chocolate and wine tastings, and other special events, the group seeks to offer opportunities for women to connect and bond with each other while having fun. The 18 Interest Groups offer further opportunities for women to enjoy meeting for a meal, game activity, share or learn a new hobby or craft, enjoy the arts, gardening, books, and much more. The January Winter in the South Luncheon was enjoyed by 125 members who also contributed donations to a local charity. All of these offerings and activities are made possible by the commitment and imagination of the HLWG amazing volunteers! HLWG members also showed their generous heart as they continued to support the greater Bluffton community throughout this past year. Our members organized a Hampton Lake Thanksgiving Food Drive which gathered over 2,900 food items ensuring that over 150 local families enjoyed a complete Thanksgiving meal. The HLWG Holiday Toy Drive collected over 500 toys this past December. Additionally, the members supported Bluffton Self Help and Family Promise of Beaufort County with varied donations of diapers, cleaning supplies, school supplies, sporting equipment, and health and beauty aids. HLWG maintains a website with news and information at www.hlwg.org Our members also receive a monthly newsletter which keeps them up to date on our organization’s happenings. As our organization grows there is continued hope that the group will foster a close-knit community of women connecting, growing together, having fun, and supporting one another.
Hampton Lake Community Association / Annual Report 2019
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2019-20 Board: L to R Lexanne Mattocks, Donna Gallenstein, Gayle Burrer, Jennifer Parker, Beth Scavone, Rita Brown, Linda DelCore, Carole Pritchard, Kathi Viehman
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Hampton Lake Community Association / Annual Report 2019
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Hampton Lake Community Association / Annual Report 2019
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Hampton Lake Community Association / Annual Report 2019
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Hampton Lake Community Association / Annual Report 2019
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Hampton Lake Community Association / Annual Report 2019
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2019 REAL ESTATE YEAR IN REVIEW Hampton Lake Community Association / Annual Report 2019
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Hampton Lake Community Association / Annual Report 2019
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INTRODUCTION & OUTLOOK
Dear Hampton Lake Members, I am pleased to report that 2019 represented yet another breakthrough year for real estate sales in Hampton Lake! We experienced the 10th straight year of growth trends and again Hampton Lake claims the spot as the the top-selling non age-restricted community in the area. Notable metrics include average sales price gains such as lakeview lots which were up 10.5% to an average of $235,585. And resale homes on the Lake saw an increase of over $57K on average - an 8.3% bump from last year to an average sales price of $747,253. Many of the product sections that sold robustly in the last few years are now sold out or nearing sell out. As of the release of this Review, the Lakeside Homes Collection by Logan Homes had just one home remaining and the Cottages at Parkside, also by Logan, had only 2 homes left to sell. Less than 20 units remain with K. Hovnanian Homes in all sections. And only 17 developer lots (custom) are remaining out of the nearly 1,000 custom lots developed since Hampton Lakeâ&#x20AC;&#x2122;s opening in 2006. Scarcity is now quite apparent in most price and type segments and with the low supply, demand is driving prices higher. For 2020, a positive buying climate is expected to yield continued results. The Reed Group development team is finalizing construction on the last lakeview and preserve-view lots in the community. These lots are located to the right of the new entrance on the forthcoming loop completion/extension of Flatwater Drive. These lots, all of which have been sold to builders, will feature custom home plans. Our final new neighborhood, The Witmer Collection, is scheduled for release in the first quarter and is located to the immediate left upon entering the new gate. These two story single family homes will offer an attractive traditional neighborhood design with front sidewalks and a garage entry at the rear of the home on a connected alley. With the new entrance now completed and the Parkside Amenity Center on track for a midyear grand opening, the sales environment should be strengthened by these enhancements to the resident experience and further increase Hampton Lakeâ&#x20AC;&#x2122;s value proposition. In the marketing realm, refinements that were made in early 2019 to increase the quality of prospective buyers has paid off. The community experienced higher total sales with fewer leads and property tours. Eliminating poorer-performing lead sources allowed us to focus more narrowly and produce buyers who were closer in their purchase process to a decision than we have seen in prior years. Finally, a thank you to the members who continue to impress prospective purchasers with smiles and waves. We reguarly hear from our customers about the warm and welcoming encounters they have with residents like you as they tour the community and contemplate making Hampton Lake their new home. Please connect with me directly if you have any comments about this report. And if you have questions specific to the value or marketability of your home or lot, please reach out to one of our sales team members for expert guidance. We look forward to hearing from you. Sincerely,
Chris England Broker in Charge Hampton Lake Realty
Hampton Lake Community Association / Annual Report 2019
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2019
Snapshots
299 2019 TOTAL SALES IN HAMPTON LAKE
165 2019 END USER SALES
134
BUILDER LOTS
44
END USER LOTS
121
HOMES
SALES SUMMARY Total transactions in Hampton Lake ended the year at 299, up by 36 sales from last yearâ&#x20AC;&#x2122;s 263 transactions. The total volume for sales transactions increased by $14M to $93.9M. End user sales were down 23 sales from 188 in 2018 to 165 in 2019. Bulk sales to builders were at 134 (there were no bulk builder sales in 2018). End user sales were down slightly, and we expect that end user sales will level off and eventually decline into the future as the communityâ&#x20AC;&#x2122;s final new offerings are sold and the resale market matures and establishes a healthy and more predictable inventory level. The availability of homesites continues to be quite limited and the developer has completed the release of all retail lots to ever be offered, of which only 17 remain. A number of large sales of product lots to builders took place in 2019, including the sale of lots to Logan Homes for the Anchor Bend Collection, and two collections which are still in plan development which have not yet been announced by the builders. Demand remained strong for lots through the year and prices increased across the board. For preserve-view lots, prices rose to an average of $121,253, up 4.5% from $115,993 last year. Lakeview lots increased an impressive 10.5% to $235,585, up from $213,285 last year. Home sales of all types increased slightly from 115 homes in 2018 to 121 homes sold in 2019. Prices increased 2.3% to a community-wide average of $571,969, up from $558,852 last year. While preserve-view homes had a very minor drop in average sales price, lakeview homes broke the $700K mark. And sales of resale homes on the water were in high demand, selling for an average of $747,253.
$93.9M 2019 SALES VOLUME IN HAMPTON LAKE 4
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Hampton Lake Community Association / Annual Report 2019
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SALES SUMMARY
The 8-year graph tracks the number of end user sales by Hampton Lake Realty, by month. Hampton Lake can often count on late Winter/early Spring and mid Summer/early Fall to yield substantial sales activity. In 2019 we saw a big rebound in Fall sales activity from 2018 which had a drastic drop from September through December. In 2019, Hampton Lake sold 58% more in the last 4 months of the year than in 2018.
2019
Sales of Note
Highest home sale: 24 Palmetto Cove Ct. for $1,260,000. Listed and sold with other brokerages. Highest lakeview developer lot sale: Lot 1211 for $269,900. Listed & sold with Hampton Lake Realty. Highest lakeview resale lot: Lot 3026 for $265,000. Listed & sold with Hampton Lake Realty. Highest preserve view developer lot sale: Lot 1210 for $149,900. Listed & sold with Hampton Lake Realty. Highest preserve-view resale lot: Lot 4849 for $140,000. Listed and sold with other brokerages. Trending: 8 Homes sold for $800,000 or higher. Trending: 31 lakeview lots sold for over $200,000 in 2019. Trending: 11 preserve-view lots sold for over $100,000 in 2019.
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Hampton Lake Community Association / Annual Report 2019
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NATIONAL & LOCAL MARKET SUMMARY The country is now in the longest economic expansion in history, and had 127 straight months of growth by the end of 2019. Record low unemployment continued and wages saw increases albeit some leveling off in growth. GDP growth which hit numbers well above 2% last year, are also seeing a leveling off as growth inches back near the historical 2% benchmark. JP Morgan Chase, in their Economic Year in Review, summarized the state of the US Economy this way: “Despite recession risks rising given persistent trade tensions, cyclical sectors of the economy, such as autos, housing, business investment spending or inventories, do not appear over-extended, the labor market is tight, and inflation is stable, making the case for economic resilience.” Specific to housing, affordability remained a hot button issue but showed some signs of improvement in 2019 as inventory caught up and builders responded by developing additional home starts at lower price points. Both inventory and new housing starts increased through the year. Sales of both new and used homes also saw gains. Related, the Housing Market Index (HMI) increased 19 points to 75 from 56 in December 2018. This index, tracked by NAHB (National Association of Home Builders), is a respected indicator of the health of the national housing market. Numbers above 50 and considered positive. Since last year’s Review, the key funds rate experienced three quarter-point decreases by the Fed in 3 consecutive months in August, September and October of 2019. These decreases were implemented due to the Fed’s concerns about slowing growth and muted inflation. A positive outcome of these reductions is that the conforming 30-year fixed mortgage trended down through the year to the mid 3% ranges, some of the lowest mortgage rates in history. For 2020, economists at NAHB are predicting similarly low rates and expect that fixed-rate mortgages will remain low at a forecasted level of 3.88%. Locally, real estate growth in the Lowcountry continues to see year after year gains. Hilton Head & Bluffton markets showed positive movement in every metric. Pending and Closed Sales were up year over year by 8.7% and 5.6% respectively. The Median Sales Price average was up 3.4% from last year. The area’s growth and climate continue to attract buyers nationally. With favorable growth, climate, tax burden, and lifestyle, the demand for real estate in the Lowcountry is well positioned to continue the pattern of year over year growth.
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6 / Annual Report 2019 Hampton Lake Community Association
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BUILDING SUMMARY Construction at Hampton Lake continues at a strong pace. 2019 had a modest 10% dip in total homes completed for the year and represented the 5th year in a row of 100+ homes completed in the calendar year. Builder spec homes and neighborhood lot/home packages represented 57% of all builds completed while end user custom home construction was at 47%, down modestly from 50% last year. New custom homes continue to be built larger every year even as
building costs remain high. Although the rapid increase in labor and materials for home constuction has somewhat moderated, there is no indication that costs will see reductions from current levels and the market demand seems to be bearing the current cost of constuction predictably. As 2019 closed out, there were 59 homes under active construction and 985 completed for a total dwelling unit number of 1044. This is a 72% build-out of all anticipated units planned for Hampton Lake.
The average custom home size has slightly increased in 3 of the last 4 years. In 2019 Hampton Lake saw almost 30% of custom homes being built larger than 4,000sf some of which were over 6,000sf in size.
2019 Building Highlights 72% 1,044
$80M
PERCENTAGE BUILD OUT OF HOMES ON ALL LOTS IN HAMPTON LAKE (COMPLETED AND FINAL PHASES)
TOTAL ROOFTOPS COMPLETED OR UNDER ACTIVE CONSTRUCTION IN HAMPTON LAKE
APPROXIMATE VALUE OF IMPROVEMENTS TO VACANT LOTS IN 2019 (Custom Homes)
TREND SHOWING THE NUMBER OF HOMES COMPLETED DURING EACH OF THE LAST 5 YEARS
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Hampton Lake Community Association / Annual Report 2019
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Hampton Lake Community Association / Annual Report 2019
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MARKETING STATISTICS
HOME STATES FOR NEW PURCHASERS
32,000+ CURRENT PROPRIETARY MARKETING DATABASE OF PROSPECTIVE PURCHASER LEADS FOR HAMPTON LAKE
4,838
702
NEW PROSPECTIVE PURCHASER LEADS GENERATED IN 2019 FROM ALL MARKETING SOURCES
ON SITE PROPERTY TOURS WITH PROSPECTIVE PURCHASERS BY HAMPTON LAKE REALTY
New Inquiries Last 5 Years
589
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NUMBER OF PROSPECTIVE PURCHASERS REFERRED BY OUTSIDE REALTORS
NUMBER OF STATES NEW HAMPTON LAKE PURCHASERS CAME FROM IN 2019
77 NUMBER OF NEW PROSPECTIVE PURCHASER LEADS REFERRED TO THE COMMUNITY BY CURRENT PROPERTY OWNERS
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Hampton Lake Community Association / Annual Report 2019
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LOT STATISTICS
TOTAL LOT SALES LIFETIME OF COMMUNITY
In the last 2 years we saw a dip in total lot sales due to a then-sell-out of available product lots for builders and limited retail inventory. With the development of new custom lot phases and builder lots, we saw a big rebound this year which was predicted. We expect that 2019 will be the last year we see lot sales at or near 100 sales as lot development is nearing community completion and vacant, unimproved lots become even more scarce.
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Hampton Lake Community Association 10/ Annual Report 2019
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LOT STATISTICS
With a trend that we expect to continue, resale lots outsold developer lots 2 to 1. With only 17 developer lots remaining at the end of 2019, resale lots should represent most or all lot sales moving forward.
Lot sales to end users were down as a percentage of total sales as predicted and represented a little more than a quarter of total lot sales. The large difference is due to several large sections in final phases which have been sold to builders.
LOT PRICE TREND LIFETIME OF COMMUNITY
Both lakeview and preserve-view lots saw the highest average sales prices in 11 years. Lakeview lots were up 10.5% year over year and saw a 7-year increase of 234%. Preserve-view lots were up 4.5% year over year with a remarkable 7-year increase in of 290%.
Hampton Lake Community Association / Annual Report 2019
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LOT STATISTICS
This graph shows the 6-year trend for resale lot sales by type. Sales of all resale lots dipped 9% as a result of low supply of preserve-view lots. Lakeview lots saw an increase of 4 sales. With so few unimproved lots remaining in the community, sales numbers should continue to trend down into the future.
Lakeview lots again held an advantage to preserve view lots and sold closest to their list price. The implied discount on Preserve-view lots despite very low inventory may be due to specific lot quality such as unusual orientation or building suitability.
Days on Market for Lakeview lots was back down to low levels where preserve-view lots doubled their average time to sell. Examining the listings showed a number of less desirable lots on the market for over 2 years which lengthened the average time period to sell.
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Hampton Lake Community Association / Annual Report 2019
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HOME STATISTICS
Total home sales increased slightly from last year with 121 sales, the second highest number in community history. Pre-designed neighborhood home sales continue to sell strongly at mid-market price points. Prices below $400K were nearly nonexistent in the community, which kept the home sales number lower than in 2017. We expect that with new builder sections and models opening in 2020 we should again see total home sale transactions in the 100+ range.
Hampton Lake Community Association / Annual Report 2019 13
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HOME STATISTICS
HOME PRICE TREND
LIFETIME OF COMMUNITY - ALL HOME TYPES
Average prices for homes increased overall in 2019, with an average sales price of $571,969, up 2.3% from last year - the highest average price in 11 years. Lakeview homes broke the $700K price average, up 3% from 2018. The preserve-view home average dropped slightly to $507,502, just $3,171 less than last yearâ&#x20AC;&#x2122;s average.
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Hampton Lake Community Association / Annual Report 2019
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HOME STATISTICS
The 7-year home price trend for resales excludes lot/home package and pre-designed builder homes. Average pricing rose by 2.6%. Individually, the preserve-view home average was down 3.2% to an average of $521,182. Resale lakeview homes stood out and were up in 2019 by over 3x last yearâ&#x20AC;&#x2122;s gains to an 8.3% increase! The average price of a resale home on the lake reached $747,253.
2,662 SF
AVERAGE SIZE OF ALL PRE-DESIGNED HOMES SOLD
$519,424
AVERAGE SALES PRICE OF ALL PRE-DESIGNED HOMES SOLD
For the first time since Phase 3 opened, resale and custom spec homes outsold presigned lot/home packages.
Hampton Lake Community Association / Annual Report 2019 15
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HOME STATISTICS
51 lot/home packages were sold in 2019, 10 less than in 2018. K. Hovnanian sold 67% of these in the Lake Bluff/Foxpath neighborhoods. Logan Homes’ Cottages at Parkside are nearly sold out with just two cottages left at year end. And Logan’s Lakeside Homes Collection, located near the original amenity center, nearly sold out as well with 10 out of the 11 remaining homes selling by the end of 2019.
Oriented with lake views, Logan Homes’ Lakeside Collection and Parkside Cottage neighborhoods sold for the highest average for pre-designed lot/home packages in 2019.
In 2019, resale homes with preserve-views sold 43 days sooner on average than preserve view homes.
Preserve-view homes identically matched lakeview homes when comparing list price to sale price.
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SOLD OUT SOLD OUT SOLD OUT 4 AVAILABLE 11 AVAILABLE SOLD OUT
Lots in Phase 3 (All phases of the Hampton Lake expansion initially released in 2015) included a total count of 242 custom lots. At the end of 2019 only 17 developer lots for custom construction remained. Additionally, 100% of all non-custom builder lots for neighborhood lot/home packages have been sold.
There were 136 end user properties sold in Hampton Lake of all types.
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This is LakeLife
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Hampton Lake Community Association / Annual Report 2019
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