Watersound North Pricing

**goofer44** · 06-17-2006, 05:23 PM

St. Joe has announced the pricing for the first release of 20 lots in Watersound North. The prices range from 150k to 205k. I guess Joe recognized the market changed. Kudos to them for reality. I think the lots should be gobbled up at those prices.

**Buckhead Rick** · 06-17-2006, 07:56 PM

what i sthe buildout time?

**Pirate** · 06-17-2006, 10:37 PM

That is the lowest price for a lot on 30-a I have heard in years. Interesting.

**Camp Creek Kid** · 06-18-2006, 01:08 PM

Originally Posted by Pirate

That is the lowest price for a lot on 30-a I have heard in years. Interesting.

Remember that Watersound North is NOT technically 30-A, but north of 98. There are amentities, etc., but it is not within a short walk to the beach.

**SHELLY** · 06-18-2006, 03:15 PM

Originally Posted by Camp Creek Kid

Remember that Watersound North is NOT technically 30-A, but north of 98. There are amentities, etc., but it is not within a short walk to the beach.

Maybe the buyers can use the $100,000+ they saved on the lot and buy an Audi A8 for quick trips to the beach.

**SHELLY** · 06-18-2006, 03:20 PM

Originally Posted by goofer44

St. Joe has announced the pricing for the first release of 20 lots in Watersound North. The prices range from 150k to 205k. I guess Joe recognized the market changed. Kudos to them for reality. I think the lots should be gobbled up at those prices.

I suspect JOE is sweating bullets and is looking for ANY kind of revenue they can report to their shareholders this quarter.

Like a GM SUV dealer at the end of the month--JOE will probably be giving all lowball offers some serious consideration.

**Cil** · 06-18-2006, 06:37 PM

Sweating bullets or merely facing reality by looking at the bottom end?
These guys are businessmen, not Snidely Whiplash.

**SHELLY** · 06-18-2006, 11:11 PM

Originally Posted by Cil

Sweating bullets or merely facing reality by looking at the bottom end?
These guys are businessmen, not Snidely Whiplash.

When the businessmen are holding a boatload of JOE stock (which they are), they're probably more than a bit sweaty over the prospect that the "other shareholders" will continue to bail out when they see more red on the this quarter's income statement.

JOE has been striking out in unexpected ways in order to gain revenue...like selling club memberships at $20K a pop--but only if you act before Jun 30 (coincidently the quarterly financial closeout date). They also are attempting to remove some of their competition (i.e., resale property inventory) from the market by giving current investulators a "get out of jail free" card (aka: 2-yr extension on buildout dates), so they can (hopefully) sell off their own glut of lots.

I'm sure the imagineers are working overtime at JOE trying to come up with inventive ideas to pump up revenues. Their last quarter was awful--and as I see it this quarter isn't looking any better.

**Beachbummett** · 06-19-2006, 09:35 AM

OE has been striking out in unexpected ways in order to gain revenue...like selling club memberships at $20K a pop--but only if you act before Jun 30

Shelly,
This is not true. Joe has given everyone until September 23rd. I know I own there.

**TooFarTampa** · 06-19-2006, 09:47 AM

Originally Posted by Beachbummett

OE has been striking out in unexpected ways in order to gain revenue...like selling club memberships at $20K a pop--but only if you act before Jun 30

Shelly,
This is not true. Joe has given everyone until September 23rd. I know I own there.

The June 30 deadline was posted by a WS owner in another thread.

Did they extend the initial deadline?

**Beachbummett** · 06-19-2006, 10:05 AM

TooFarTampa,
Yes they did extend the date.

We were down this weekend and it was nice and uncrowded. I for one don't care if it stays that way.

I have been down there most of my life and have fretted a lot the last few years at the crowd and enviromental issues of overcrowding. Yes, the appreciation of the properties have been nice but has been moving to fast for me. Perhaps this slow down is a good thing for everyone.

**thekid** · 06-19-2006, 10:49 AM

We also have a place in Watersound & are currently starting to build. I agree it is very nice to go down ther now & not have to worry about it being crowded. I feel that in the long run the current bust in values will be a good thing because the people who are left will be the ones who really really want to be there. I think everybody knew the game of musical chairs in the land game would end & cost some people a lot of money. I believe St. Joe has done a very poor job of handeling to situation extending the buildouts & all. The beach club that has just opened was originally planned to be a town center & was one of the reasons we bought our lot 4 years ago. They just got greedy like everybody else. It will be interesting to see how the new lots move.