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gmarc

Beach Fanatic
Jan 19, 2009
506
65
bobby i'm saying if you buy the lot for 60-80k. i know a couple of people who just bought lots that were 500k plus in 2006 for 60-70k.so if you build a 2000 square foot home for $100 a square foot thats 200k so you're in there for 250-280k and there 1/2 the distance to the beach as nature walk, i just personally think that nature walk will be a very tough vacation rental neighborhood due to its distance to the beach. bobby i saw many condo's a few months ago went for 140-160k at redfish village and then several lately went for high 200's and even one went for over 300k. why would someone pay 2 times the price of some that sold a few months ago?
 

Bobby J

Beach Fanatic
Apr 18, 2005
4,043
600
Blue Mountain beach
www.lifeonshore.com
bobby i'm saying if you buy the lot for 60-80k. i know a couple of people who just bought lots that were 500k plus in 2006 for 60-70k.so if you build a 2000 square foot home for $100 a square foot thats 200k so you're in there for 250-280k and there 1/2 the distance to the beach as nature walk, i just personally think that nature walk will be a very tough vacation rental neighborhood due to its distance to the beach. bobby i saw many condo's a few months ago went for 140-160k at redfish village

and then several lately went for high 200's and even one went for over 300k. why would someone pay 2

times the price of some that sold a few months ago?

I would need to look at the actual sales to see what's up. I think your gonna be real hard pressed to get a 2000 sq. Foot home built for $200,000. Especially in a neighborhood with any DRB. I am also now having a hard time finding cheaper lots unless they are in one of the "planned" hoods. The market really shifted over the summer.
 

Ohio Girl

Beach Lover
Feb 13, 2006
239
59
Sagamore Hills OH
Bobby, you bring up an interesting point. We have a cottage in the planned hood of Magnolia. There are 2 vacant lots (1 is right next door to us) for sale. I would imagine these might be hard to sell because the homes that would be built would have to conform to the existing house models that are now 6 - 7 years old. Any insights?
 

Bobby J

Beach Fanatic
Apr 18, 2005
4,043
600
Blue Mountain beach
www.lifeonshore.com
OG,

It really depends on the price. I noticed very early on this year that lots outside of DRB neighborhoods were selling for low prices. They were selling low and fast. Now, we are left with a bunch of lots in hoods that have to go through the design phase. Lots of great deals but in the end you end up paying, design fees, time, etc. That's why you will see me get real excited when I see a cheap lot in a nice area with no association. For example, that lot on Camp creek road that SOLD for $67,000! That was an incredible deal an just maybe one could build there for $100-$125 a sq. foot. When you hop over to design neighborhoods the cost to build seems to hop up a bit.
 

jeffreyb_30319

Beach Comber
Jan 31, 2008
9
1
DRB = Design Review Board = time and $$$. The reason most folks like to build in a DRB community and pay the extra money is property value protection. From a builder's point of view, once you go through the process it's usually not so bad the second time.
 

tsutcli

Beach Fanatic
Jan 14, 2008
921
109
Seacrest
If you believe that Naturewalk can be sold then you must also believe that Prominence(see post 22 ) would be attractive at $300,000+ - and it is south of 30a. $250 - 300,000 might get some interest but not from me as I believe most people come for the BEACH and all the other amenities mentioned are secondary. If you're depending on the second home buyers to fill these places it will be multiple decades before there is any appearance of build-out. Will Naturewalk have a DRB to deal with? And how about the bond issue? add $$$$$$$$$
 

Kurt

Admin
Staff member
Oct 15, 2004
2,233
4,925
SoWal
mooncreek.com
If you believe that Naturewalk can be sold then you must also believe that Prominence(see post 22 ) would be attractive at $300,000+ - and it is south of 30a. $250 - 300,000 might get some interest but not from me as I believe most people come for the BEACH and all the other amenities mentioned are secondary. If you're depending on the second home buyers to fill these places it will be multiple decades before there is any appearance of build-out. Will Naturewalk have a DRB to deal with? And how about the bond issue? add $$$$$$$$$

Informal poll: at what price would Prominence be attractive?
 
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