Watercolor

Beach Crab

May 6, '07 · 8:33 AM4,719

I've been down to this area numerous times down because of the beauty of the area. I like it much better than Hilton Head, Amelia, Kiawah, etc. due to the white sand, lack of highrises, clear water, dunes, etc.

I have looked and looked at houses along various parts of 30A over the last 2 years or so. I really like Watercolor. However, I have noticed that every time I come down, it appears that there has been yet another round of price cuts on the houses. I also get data from a realtor. The data seems to show that activity has picked up in Watercolor, but prices are continuing to fall. I have some info from a couple of years ago that showed many prices on homes in the $700 plus range per square foot. Over the last six months or so, it seems the many of the sales in Watercolor have been under $500 per square foot. Am I missing something? I wouldn't want to pull the trigger on a purchase while prices are still falling.

:confused: :confused: :confused: :confused:

Replies

Beach Comber

May 8, '07 · 3:20 PM#27

They may work in many cases, but the only stories which I hear about them usually involve one seller needing to sell, and that can tend to be a problem if the other owners do not want to sell.

You're right that they do work in many cases... and I'd venture to say they work in the vast majority of cases.

Of great importance is structuring the partnership properly from the start. There's no reason that the other owners must want to sell just because one wants to. We are seeking partners who want to own in WaterColor for a long time to come. But of course, people's lives change... there's also death and divorce... so it's important to address these things in the partnership agreement.

I don't know anyone who is unhappy with their vacation home partnerships. But I'm sure there are some... and of course, those are the ones you're most likely to hear about.

And I don't know about any specific partnerships in WaterColor... but I know someone who is partners on a beach house in South Carolina and there are people standing in line wanting to buy in if one of the partners ever wants to sell. Another friend of mine recently sold his ownerhip in a home in Hilton Head and is now wishing that he hadn't.

I believe that you'll see more and more people partnering in vacation home ownership in the future because it just makes good sense.