Despite the difficulties encountered by the real estate industry and the disruption caused by mortgage problems in 2007, I am pleased that Palmetto Bluff ended its year very strongly. Developer homesite sales were not off significantly from 2006, and most importantly, property values have been maintained.

 

The commitment to “adding value” to our community is most evident with the ongoing investment in new facilities and neighborhoods. The year 2007 saw the opening of RT’s Market and the Wilson Landing Boatyard. The Palmetto Bluff Water Trail was expanded beyond South Wilson and into the new River Road neighborhood, where our first homesites were offered with direct access to the waterway. Homesites also were made available in Longfield Farms, our unique equestrian neighborhood; and Barge Landing, which (along with the River Road neighborhood) boasts direct access to the 120-acre River Road Preserve.

 

The announcement of the Preserve was exciting news for us in 2007. Distinguished by more than a mile of marshfront property, this conservation easement is Palmetto Bluff ’s latest commitment to the environmentally sensitive philosophy we have always held in high regard.

Lately we have completed or nearly completed three more fantastic facilities. The Canoe Club is an extraordinary members’ dining and recreation facility, while the nearby Ships Store is the focal point for marine and other outdoor activities. And the debut of Longfield Stables, our state-of-the-art equestrian facilities, has added a whole new dimension to the varied environments of Palmetto Bluff.

 

All of these new facilities are evidence of our continued confidence in Palmetto Bluff’s future. At the same time, we recognize the need to keep expanding our diversity of real estate offerings and amenities. We will do so with the same attention to detail and high level of quality you have come to expect at Palmetto Bluff. In our view, the outlook for the coming months and years is very exciting.