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Joe Mammy

Beach Lover
Mar 26, 2007
140
40
There are 3 2br units listed right now for less than $350K. Your 295K plus buyer's premium puts yours at $324,500 to get the bidding started. That puts yours at a 4-7% discount....not real attractive. I KNOW I can negotiate better than that.

And the 3br seems to be a first floor unit. You can not give those away.
Those 3 2brs are lower units on the 4 and 5th floors. The units go up in price about $4500 per floor as you get higher. My 2br is on the 11th floor for $324.5K (with buyer premium). There are active listings on the tenth and 13th floors that are at $385K.

The cheapest 3br in ADII listed now is $579K. How does 32% sound?
 
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TN fan

Beach Comber
Oct 25, 2007
19
1
The 579K is a 6th floor unit. If you account for let's say a conservative number of $7,500 discount per floor as you go down and then another $50,000 factor for the first floor negative....that's a total negative factor of $87,500. Add that to your minimum and the difference is now about 9% off of that list price just to get the auction started.

Good luck with your auction.
 

SHELLY

SoWal Insider
Jun 13, 2005
5,770
802
I'll be there. I held an auction 2 years ago at Caf? 30-A with 22 properties and did not sell a thang. Funny how time goes by. All the properties that were for sale at that auction are still for sale. But the current asking price is the high offers of 2 years ago.

....plus 2 additional years of carrying costs.


.
 

Joe Mammy

Beach Lover
Mar 26, 2007
140
40
Let's look at facts:
Preconstruction price of #110 - $553,700 - auction price with bp is $434,500
Preconstruction price of #610 - $582,700 - listed at $579,000 - a 90% offer of $521,000

The balcony on the ground is much larger than the balony on the 6th and you could put in a gate for direct pool access. Many pet or child owners do not like the heights. The $50K ground floor neg is simply not true. We can clearly see it is much less.
 

sberry123

Beach Comber
Mar 5, 2006
39
0
Let's look at facts:
Preconstruction price of #110 - $553,700 - auction price with bp is $434,500
Preconstruction price of #610 - $582,700 - listed at $579,000 - a 90% offer of $521,000

The balcony on the ground is much larger than the balony on the 6th and you could put in a gate for direct pool access. Many pet or child owners do not like the heights. The $50K ground floor neg is simply not true. We can clearly see it is much less.

You cannot show me any better deals in Ariel Dunes II than the 2br for $295K


I think this is a good price since pre-construction, this would get you a one bedroom. Of course, I am not a realtor and was not in the "in crowd," when I sent my reservation in for Arial Dunes ll. Group one was for buyers who had done business with the developer before, group two was the group who did not get in on another pre-construction deal with the developer (I was in this group). Group three was for buyers first time dealings with the developer. Yup, my $10K reservation check was sent back to me with a sorry letter. :dunno:

All eyes will be on the outcome this Saturday. What will it mean if no Arial Dunes unit sells at the auction? I still have my $10K from Arial Dunes in the bank, I still have a good job with excellent credit. Not being in the "in crowd," might be pretty cool! :D
 

SHELLY

SoWal Insider
Jun 13, 2005
5,770
802
group two was the group who did not get in on another pre-construction deal with the developer (I was in this group). Group three was for buyers first time dealings with the developer. Yup, my $10K reservation check was sent back to me with a sorry letter. :dunno:

All eyes will be on the outcome this Saturday. What will it mean if no Arial Dunes unit sells at the auction? I still have my $10K from Arial Dunes in the bank, I still have a good job with excellent credit. Not being in the "in crowd," might be pretty cool! :D



I think you should present a "Thank You" card to the developer, and on the reverse of that card....<wait for it>....write down your offer and an expiration date for that offer--then walk away.


.
 

redfisher

Beach Fanatic
Sep 11, 2005
374
37
I think you should present a "Thank You" card to the developer, and on the reverse of that card....<wait for it>....write down your offer and an expiration date for that offer--then walk away.


.


Why don't you take your own advice and join me @ the auction...Oh wait, now I remember...
 
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Joe Mammy

Beach Lover
Mar 26, 2007
140
40
sberry123-
Curious, what was your goal for the unit if your deposit was accepted?
Were you looking to put it on a rental plan, second home, primary home or were you going for a flip?
 

SHELLY

SoWal Insider
Jun 13, 2005
5,770
802
Why don't you take your own advice and join me @ the auction...Oh wait, now I remember...


.

pg3.jpg





.
 

sberry123

Beach Comber
Mar 5, 2006
39
0
sberry123-
Curious, what was your goal for the unit if your deposit was accepted?
Were you looking to put it on a rental plan, second home, primary home or were you going for a flip?

My plan was to my HELOC on my condo in Orange Beach of $100K for the %20 required for the hard contract which would have been $60K. During construction of Arial Dunes ll decide to sell my condo in Orange Beach, payoff the HELOC and put the extra proceeds towards AD ll. I was also thinking about flipping the AD ll condo before closing and keeping my Orange Beach condo.
 
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