Own in Watersound for $275,000

[drivingtheview]

Give St. Joe credit. The following is an e-mail I received today, including the subject line (as I'm sure many of you also received). I normally delete these w/out opening. But the subject line got me for a split second. What a deal. Did not mean to get you too. That being said, this bargain does not include fees & assessments, but use of a beach cart is included.


The WaterSound Beach Private Residence Club is a collection of 21 three-bedroom,three-and-a-half bath, fully furnished luxury residences. Owners receive a deeded 1/8 fee simple interest in a residence that entitles the Owner to a minimum of five weeks stay in the Private Residence Club each year.


Situated behind the great dunes of WaterSound Beach, the Private Residence Club captures dramatic panoramic views. Gracious exterior porches and balconies give each residence a distinct and charming character. The interior of each residence offers a light, airy, handcrafted feel, easily maintained-ideal for today?s active lifestyles along the coast.
Private Residence Club Amenities
Private Residence Club Features
Use of the Private WaterSound Beach Club
Private Residence Club Room for owners only, that includes media room, game room, great room, and large private balcony with views of the Gulf.
Boardwalk access to the beach
Use of a beach cart during your stay.
Private, outdoor BBQ cooking area
Owner storage lockers
Housekeeping service
Viking cooktop, oven, microwave and dishwasher
Sub-zero refrigerator
GE Washer/Dryer
Stone flooring in bathrooms, foyer, and laundry
Wide-plank flooring in living, dining, and kitchen areas
LCD TV with Bose surround-sound system

This advertising material is being used for the purpose of soliciting sales of a timeshare interest plan.
*Fees and assessments may apply.

 

[SHELLY]

Give St. Joe credit.

Credit for what?...timeshares have been around since the Nixon-era

Gotta admit, the e-mail does lack the thrill and drama of the "in your face" sales interrogation of other timeshare come-ons....but the looking over the list of amenities begs the question, "Do these units have granite countertops??"

 

[Kurt]

Of course!

http://www.emeraldcoasttours.com/watersoundprcmodel

 

[nmosley]

Kut -
Your work is excellent as usual! Thanks for sharing!

 

[drivingtheview]

Credit for what?

Making me curious enough to open the e-mail! (by contemplating that something in Watersound could be bought for $275K). Alas, only to read about the dreaded time-share

 

[fisher]

Making me curious enough to open the e-mail! (by contemplating that something in Watersound could be bought for $275K). Alas, only to read about the dreaded time-share

Actually these TS units are an outright lousy deal for a buyer. You can own a whole 2 bed, 2 bath in Watersound for $999k (list price and can probably be had for less) or a 3/3.5 for $1.3 million. The 1/8 timeshare at $275k equates to a price of about $2.2 million for the entire 2/2 unit. The only good deal on these units would be for Joe who would make a killing off the units.

If you want a timeshare, there are resales for $200k in Watercolor and a 1/6 timeshare for $200k in Rosemary. If I wanted a timeshare (which I don't), I wouldn't touch them unless they were under $90k (equates to $720k for a 1/8 share of a 2/2 in WC or WS and $540k in RM).

 

[bdc63]

It will be interesting to watch this one over the next 12 months or so and see where the price goes ...

 

[drivingtheview]

Actually these TS units are an outright lousy deal for a buyer.

That being said, this bargain does not include fees & assessments, but use of a beach cart is included.

Yes, I am with you.

 

[GVM]

Hey, Ya'll. I'm not saying the Wateround offering is a good deal, but it's not a time share, which yes, you should generally run away from with great haste.
Sounds like what they're offering is a fractional ownership, whereby the owner will have title to 1/8 interest in the property, not just a right to lease the property, as in a time share. Some fractional ownerships can be a good idea, some not, but you do have ownership. Generally, the corporate offerings of fractional ownerships carry very substantial monthly fees. Fractional ownerships that represent good value are bought and sold all the time.

 

[SHELLY]

It will be interesting to watch this one over the next 12 months or so and see where the price goes ...

I'd toss these on the heap along with JOE's attempt to push the $20,000 (for a limited time!) Watersound Beach Club memberships.

.