Bungalows at Seagrove- Under $200,000?

[Paula]

I'm not interested in buying another place, but I did once look at the Bungalows at Seagrove (i think that's what they're called - behind the Tom Thumb). I thought they looked nice enough from the outside and just noticed some of them are selling for under $200,000 - quite new buildings, 2 bedrooms, 2.5 btaths, with two pools, and within a very short walk to the beach. there was a fire there a year or two ago, but that's long over. Here's the link: Bungalows at Seagrove Location - Seagrove Beach Florida real estate, Seagrove Beach real estate listings, Seagrove Beach development.

Anyone know why some of the units are selling for $200,000 or less - seems like a great deal for someone who wants a place on 30A that would work for a family. My take on the Bungalows is that they are probably nice inside, pools seem nice, not a lot of natural environment around them in their community (a lot of parking spaces), and don't know how much association fees are - but the price seems pretty great, especially if someone want to be in Seagrove. And if the beach that is close is the one with the bathrooms, that would be another bonus (I like that sort of convenience...). I'm very happy where I am, but thought I'd ask about this since someone else might be interested.

I've been hanging around all the threads this past week or so and will soon get out of the Real estate thread (it's one I decided to avoid a few years ago), but thought I'd get caught up first,

I've been on SoWal.com a LOT these past few weeks because I'm avoiding doing my taxes (I got an extension so I'm on SoWal to celebrate).

 

[SHELLY]

Fees are $300 per month right now. Some of these were flipped for close to half-a-million....:shock:

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[Paula]

I think those fees may be a bit high, but I read there is a heated pool and that can increase fees and could pay off in rentals if a person rents their place out (e.g., if you get a few more rentals in the spring and fall because the pool is really heated - I say "really heated" because sometimes people advertise their pools as heated, but they're not heated). I think those would be nice places for people who don't want to spend a lot of money on a place and like to be near a little bit of action (e.g., Seagrove restaurants, etc.).

How about Seagrove Highlands? Some of those 3 bedrooms are going for under $200,000. I know people paid a LOT more for those. They, too, seem nice and are pretty nicely located (near Bungalows).


(I really am trying to avoid doing my taxes by being on SoWal.com because I'm not even looking for a place to buy...just distracting myself with curiousity about what's going on in some of the SoWal communities).

 

[Kurt]

Those seem like good prices for buy and hold. They might make good long term rentals with the right amount down.

 

[Paula]

If I didn't already have a place in SoWal I'd consider the Bungalows based on what limited information I have now - seem cute, definitely seem a good price for the value if they're well built (I don't know that), good use of space, and convenient - retirement or snowbirds? The association fees seem a bit high, but if there's a heated pool, then they're worth it for the right people (e.g., people who will use or rent the place out in fall/winter/spring). Our pool isn't heated so I'll someday join a club with a heated pool nearby, and that will probably cost the same as the association fees (they're still relatively low at Bungalows I think). And, really, if that's the Seagrove beach access with the bathrooms, that's pretty darn convenient. I personally don't know anyone who has a place at the Bungalows and have no self interest. I'm just curious because I'm interested in the community and the people who live/want to live here and this seemed like something that someone should be talking about in case anyone was interested - they're a good fit for someone if the prices are bottoming out.

 

[Joe Mammy]

Anyone know why some of the units are selling for $200,000 or less - seems like a great deal for someone who wants a place on 30A that would work for a family.

Only one has sold for less than $200K- and that was just last week for $190K. It was a developer unit. In the agent notes it states that "developer wants to liquidate".

There are a number of shorties in there listed below $200K now and the lowest priced next developer unit is listed at $215K. Proof is in the pudding that he'll take sub-$200K.

 

[John T]

Bunglows

We like it at the Bungalows. The $300 per month HOA fees covers water, sewage,pool service, landscape upkeep, and pest control. Jeff Cresse with Southern Management does a great job, and we have the hardest working HOA President on the gulf coast! There are a bunch for rent on FRBO, if anyone would like to get an idea what they look like on the inside, and what they are renting for.