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Friday, July 03, 2009

Canterbury Woods Country Club and golf course becomes foreclosed property

(This entry was originally posted in this blog on December 3, 2008 and the information is based on that time.)

Another golf course becomes the victim of the ongoing recession in USA. Canterbury Woods Country Club and golf course has been declared foreclosed property. A foreclosure sale is going to be held on December 19th. The Union Leader of the New Hampshire said that the sale was ordered by Southern New Hampshire Bank and Trust, which is now known as the Bank of New England, that holds the mortgage.

Situated on 260 acres of land, the Canterbury Woods Country Club was actually a part of the Glines Farm on West Road in Canterbury, New Hampshire. The Glines family settled in Canterbury in the 1730’s. They purchased this farm in 1853. Today, Glines Firm is the only active dairy farm in the area. The land was not suitable for farming but it had fabulous, expansive views of Mount Kearsarge, Ragged Mountain and the Merrimack River Valley. Seeing the potential of the land, it was turned into a golf course five years ago.

One of the major reasons, golf never gained so much popularity is the money factor. Every thing about golf is expensive and exclusive. From maintaining a golf course to membership, teaching, instruments and equipments everything requires lots of money. For the last couple of years, the golf industry observed a consistent rise in its prices but the on going economic crisis changed the scenario. To continue the game, businessmen would have to come up with cheap innovative ideas.

Related article:

Boston Herald

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