Naturewalk - signs of life?

[Rita]

Does anyone have any thought about who might be the target cross-section for Naturewalk buyers?

I've grown up in tourist areas, and Naturewalk would perhaps interest me--if it was NOT subject to short-term weekly/monthly vacation renters. (I've lived in those spots before, as a permanent resident--and not my cup of tea).

Thoughts, on Naturewalk, in this regard?

Thanks.....

Our area of Dune Allen Beach, Sea Dunes, has no rentals shorter than 6 months in their covenants. I know of a few lots in there that are available.

.

 

[quality hammer]

The Retreat in Blue mountain area is gulf front with no short term rentals.

 

[jeffreyb_30319]

I was thrilled to see the pricing, we are building in a much better location right on 30A for much, much less. Although our homes will be more conservative in size, you can do a lot with the $150K you will save and still get 3 bedrooms or 3 with a bunk. We looked at buying Nature Walk a while back, the numbers didn't pencil for us especially with the bond holders not willing to take a haircut. We needed to trade starting in the mid $200's to get the velocity we were looking for. Also, when dealing with banks these days you need an out in case you screw up and can't sell the house. Being in a resort rental area gives you that out, I know we can rent the homes we are building and achieve a cap rate of 15 to 25. It's going to be tough to have a $400K home in Nature Walk and expect to gross anything close to $40K to $50K a year with no beach access, maybe get $30K if you are lucky? Anyway, I happen to think they are $100K overpriced in that location at the present time but wish them nothing but success, hopefully they will prove me wrong.

 

[Kurt]

Noticed new signs up yesterday that said "from the mid 300s".

 

[tsutcli]

Still not low enough to excite much interest considering all the negatives associated with this location IMO.

 

[Kurt]

Still not low enough to excite much interest considering all the negatives associated with this location IMO.

Besides distance to the beach what are other negatives? What is the right price for a 2,000 sf house in Naturewalk?

 

[scooterbug44]

Why do you think that location is so negative? You're on a NS connector road between 30A and 98, close to a bike path, near amenities like groceries, liquor, dry cleaning, etc. and can easily take advantage of all the 30-A events, shops, and restaurants.

 

[PJJ]

I'm guessing "the mid 300s" doesn't include the CDD bond repayments.

 

[gmarc]

i'd say the right price is $250k or $125 a square foot. in many nice neighborhoods you can buy 550k lots from 2005 for 60-80k and build a 2000 square foot home for 200k. You have 260k in an estabilished neighborhood 1/2 the distance to the beach than nature walk. seagrove has several of them

 

[Bobby J]

i'd say the right price is $250k or $125 a square foot. in many nice neighborhoods you can buy 550k lots from 2005 for 60-80k and build a 2000 square foot home for 200k. You have 260k in an estabilished neighborhood 1/2 the distance to the beach than nature walk. seagrove has several of them

I say it's hard to say what they are worth until we see the quality. I think if they build with garages they may have hope. Homes under 300 are getting hard to find Ray. Sea grove has several? You talking the bungalows?