Manager’s Report

Real Estate inside Gatewood continues to be brisk and very encouraging! By the end of August, there will have been twenty (20) house closings and three (3) lots sold so far this year. These include four (4) condominiums in The Gates and 16 single family houses. At the current time there are five (5) houses on the market for sale and two (2) condominiums. Out of these seven (7) properties, we understand two (2) are under contract with closings scheduled in September.
Last year Gatewood had 26 real estate closings and in 2019 there were a total of 20. By the end of the current year, we anticipate total closings to potentially match last year or possibly exceed it! This equates to 30% of our houses transferring to new residents in just three years. This is great for a number of reasons:

• Sales prices have been rebounding and showing signs of increased values. This helps everyone.
• New residents moving into the community. We have seen a number of new residents get involved in numerous activities such as social activities being held at the Clubhouse, volunteering to clean, paint and decorate the bar area
of the Clubhouse, and pickleball at the renamed “Racquet Club”, formerly named the Tennis Club.
• All of this new energy and activity is strengthening the social connection of the entire neighborhood.

We hope more people will want to volunteer and get involved. Be on the lookout for new planned social gatherings at the Racquet Club and the Clubhouse.

Wilson Bruce