The purchase price is 106 Mill not 53mill, that was the first instalment. If you have not been there its worth a look, Rolling hills crystal clear Lakes. You can still find many lots on the Bay County MLS in the low 20s.
There's no shortage of people willing to part with their lots in Sunny Hills (Ads and quote [
sic]):
"Sunny Hill's Lot. .Only $15K. Yes Only $15K with NO Closing Cost's! And No Fee's, NO Kidding! Please "Google" Sunny Hill's and see what the Realtor's want! Go to "Ebay" and see that they Charge YOU Fee's! Eric Estrada Advertise's for a Big Co. In Irvine, Calif. (NRL LLC)You may have seen him on T. V. My Lot is a 1/4 Acre just like his! Same Location. I am Desperate and I admit it. $15K Can't be beat!" (Tampa4Sale.com)
"$17,000, 1/4 acre home site in Florida's growth mecca; the Panhandle. This quarter acre property borders a huge chunk of land that was just purchased by a major developer in May, 2006. National Recreational Properties of Irvine California aqquired over $53million of land in sunny hills, and they plan to improve the area with new roads, utilities, and of course residential building. Not to mention their plans for a multi-million dollar ad campaign featuring their spokesman Erik Estrada." (Bostonbackpage.com)
"$27000 LAND FOR SALE IN PROMISING AREA OF FLORIDA. ATTENTION INVESTORS: Don't be to late!! Get involved now while you still can! Sunny Hills is the place to be. Just 20 min. North of Panama City Florida. CNN Money Magazine rates this area of Florida #1 to invest in. With all the growth coming in from the brand new international airport that will be larger than JFK, a theme park, you have National Recreational Properties purchasing 53 million dollars worth of property in Sunny Hills and much more. For those of you that don't no who National Recreational Properteis are, you might have seen them selling land on T.V with Erik Estrada. Why wouldn't you want to invest your money here!" (Miami Craigs List)
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And last, but not least, a Nov 22, 2006
(yes, 2006!) quote from a Realtor with Sunny Hills lots to sell (pulled off a message board):
"I think
in two to three years when the airport is built and Animal Kingdom is in full swing, plus NRP will be selling lots next year for 40K, plus a 1/4 acre lot in Panama City is over 100k now....all that tells me that prices will be much higher in the coming years. Looking at what has happened in other parts of FL like Port St. Lucie.....
I think prices will be somewhere between 50 and 60K for a standard 1/4 acre lot in Sunny Hills in 3 to 5 years. So if you buy now at 20 to 25k, you will see a return of 200 to 300 percent. No other investment I know of can give you that kind of return
with very little risk.
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(The calculator batteries must be running a bit low--or puffery running a bit too high....300% return??)
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Keep partying like it's 2005! .
Rock out...Shel
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