Watercolor

[Dominoes]

OK, maybe I'm wrong.

 

[fisher]

Another house in WC has a contract on it for around $6 million.

SWGB,

Where is the beef? Please reveal the details on the $6 million house in WC.

 

[dunelover]

Might want to check these out. http://www.sowal.com/property.html 489128. or 489126 On the mls today at 321/sq. and 320/sq.ft. Either a great deal or the average is falling still.

 

[Matt J]

Please give more details. There wasn't even a house listed on the MLS for over $5 million in Watercolor. How could one be under contract for $6 million? That would have been one heck of a bidding war in a down market.
I have to believe you don't have your facts straight.

I apologize, this was the Dawn Thurber designed Gulf Front home. I had originally heard the asking price was $6 million, then I heard it had gone under contract. Got them mixed up. It's probably the $5 million dollar one you mentioned.

 

[iqueequeg]

Might want to check these out. http://www.sowal.com/property.html 489128. or 489126 On the mls today at 321/sq. and 320/sq.ft. Either a great deal or the average is falling still.

I think these are both in that neighborhood over near Publix. Considered less desirable so I think that's reflected in the price. Still a great deal, though.

 

[tsutcli]

I think these are both in that neighborhood over near Publix. Considered less desirable so I think that's reflected in the price. Still a great deal, though.

Yes. These are both in Phase 4 near Publix. Joe built spec. homes.

 

[JoshMclean]

Nice home closed in Watercolor yesterday at $305/foot. Great buy for someone!

 

[fisher]

Nice home closed in Watercolor yesterday at $305/foot. Great buy for someone!

Prices on these "forced" sale properties are definitely low-unfortunately for many builders and investors who are losing big bucks. The buyers are getting good deals. Phase II and Phase III are gettgin hit pretty hard by these "liquidation sales". However, in the more stable, almost built out and better located Phase I, prices have been pretty stable for a while. Smaller cottages are selling in the $1.2 million +/- range, larger homes for $1.5-$2.5 million (depending on size, location and home amenities) and a few premier properties are selling for even more. Phase II and Phase III will likely be "depressed" for quite some time due to more stress sales that will be coming, worse location and lots of available lots for sale.

Just my opinion backed up by some real sales data.

 

[fisher]

I apologize, this was the Dawn Thurber designed Gulf Front home. I had originally heard the asking price was $6 million, then I heard it had gone under contract. Got them mixed up. It's probably the $5 million dollar one you mentioned.

Thanks for the clarification.

 

[full time]

I believe the most per square foot ever obtained in Watercolor was in Phase II. Once you get outside of a view corridor and/or walking distance, price per square foot deviations are driven by the size of the house and quality of design and construction. Distressed sales are impacting the entire 30-A market by driving down the average price of a home. Phase I is not somehow insulated from that impact anymore than Phase II and Phase III will bear the brunt of it.