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PTWizard

Beach Lover
Jan 17, 2005
80
0
Columbus, OH
Fair enough. Thanks for playing stump the chump.

Now we move to the next round where the questions are harder. Rosemary is nearing build out which is best for the end user. I have been watching Paradise and have seen just 4 starts in the past year which is about 10% of the buildable lots.

I know Paradise will be the home of the mega houses with bookends like Hilton to the west and that developer from Atl to the East. I'm afraid without build out momentum it may take a while. I don't see or hear about future starts, sorry.

Actually, considering the housing market and the fact that we have no build out restrictions, the building activity in our community over the past couple of years has been remarkable. Certainly greater than the beach side of Alys Beach. Recent building activity has included wonderful new homes on lots 1B and 3B, a major addition to the home on lot 2B, major renovations to the gulf front homes on lots 5A/6A and 18A as well as a teardown and new build of the home on lot 7B. This is all in addition to the gulf front mansion that you mentioned being built on lot 27A.

In addition, there are 3 additional gulf front homes which have been in the planning stages for some time and should begin construction within the next 3-6 months. It would not be fair for me to share the details but I can tell you that all three homes will be comparable in size and quality to the mansion currently being constructed on lot 27A.

I think it is fair to say that nothing else in the area will compare to the gulf front homes currently under construction and in the planning stages at Paradise by the Sea. Once people see the size and scope of the additional Paradise by the Sea homes that will soon begin construction they will begin to understand that this community is destined to become, like it or not, the very highest end (and lowest density) development of all the high end communities along 30-A.

One last thought. You are correct that even with the building activity I've described it may be several years before homes are built on all of the lots at Paradise by the Sea. In fact, this may never happen. However, I don't think any of the owners are losing sleep over this fact. All of the lots have been in the hands of private owners for many years and they seem to enjoy the fact that our little development is relatively peaceful and without commercial interruption. They also seem to enjoy our relatively low Property Owners Association fees.
 

PTWizard

Beach Lover
Jan 17, 2005
80
0
Columbus, OH
Yes, the plans I have seen put all the new gulf front homes in the 8,000 - 10,000 sq. ft. range. I believe the heated square footage of Mr. Pearson's home is actually at the lower end of that range.
 
Yes, the plans I have seen put all the new gulf front homes in the 8,000 - 10,000 sq. ft. range. I believe the heated square footage of Mr. Pearson's home is actually at the lower end of that range.

:yikes:That's 3 more new homes the size of the Hilton house:yikes:


Can I say that I appreciate your fact driven counter posts? I think you're a good dude. We talked several times offline and you've now publicly confirmed all the more vague assertions you made to me. Most folks in these parts vascilate publicly when pressed on private assertions.

I finally found a place worthy of my dream home, Moon Gate and all.
 
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PTWizard

Beach Lover
Jan 17, 2005
80
0
Columbus, OH
AA, just buy my property and make your fantasy a reality. That is, as long as you can navigate the PBTS Architectural Review Board and the South Walton County Building regulations. Actually, that shouldn't be all that difficult as long as you follow county building codes and the PBTS Amended and Restated Covenants, Conditions and Restrictions which are in the public record. Although "anything goes" is definately NOT the policy of the PBTS Architectural Review Board I think you would find that, compared to Alys, Rosemary, Watercolor, Watersound or even Seacrest, they certainly permit a greater freedom of design. That being said, the homes currently in the planning process are all relatively traditional, but also spectacular. While not the same, their design is much closer to the Pearson home being built on the East side of the neighborhood than the Hilton or McRae homes on the far West side.
 

PTWizard

Beach Lover
Jan 17, 2005
80
0
Columbus, OH
View from Alys Beach - 30-A

A couple of people have asked me where our home is located relative to Alys Beach. This picture was taken from 30-A across from the Fonville Press. Our home is the one in the center of the photo.
 
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PTWizard

Beach Lover
Jan 17, 2005
80
0
Columbus, OH
Paradise by the Sea POA Fees

Several people have asked me about the Paradise by the Sea POA (Property Owners Association) Fees. The total annual fees for 2009 are $1,260. This is NOT a mis-print!!! This is the TOTAL amount for 2009. Even so, we maintain a beautiful lighted gated entry and landscaping along 30-A as well as our common areas. In addition we have a total of more than $75,000 divided between three different reserve accounts.

Just try to find any other neighborhood in the area with annual fees even double this amount. You can't. Most QUARTERLY fees are DOUBLE this amount. Just another good reason to invest in this property.
 
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PTWizard

Beach Lover
Jan 17, 2005
80
0
Columbus, OH
Price reduced to $899,000!!!

However, at this price I'm not offering any owner financing. Purchased home for $1,820,000 four (4) years ago and have invested over $100,000 in improvements, renovations and furnishings since my purchase. My loss is your gain.
 
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PTWizard

Beach Lover
Jan 17, 2005
80
0
Columbus, OH
A Building Lot with Great Rental Income!!!

After some initial concerns the rental season appears to be shaping up nicely. This home is on track to generate $60,000+ in gross rentals this year, even with 2 weeks of owner occupancy during the rental season. That's slightly better than last year despite the poor economy.

Just a thought. What other building lot with this location, elevation, size and view could you buy for this price that generates this type of income? The fact that you can enjoy this property now, have the option to build another much larger home later (No buildout time requirement) combined with relatively low POA fees, insurance and taxes makes this property a unique value.

You can check it out from a rental perspective at Garrett Realty ~ Paradise Romantica - Seacrest Beach FL Vacation House

Have FUNN!!!
 
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