scooterbug44 avatar
SoWal Expert
3,559 views
What's the dirt on this place? (across from Grecian Gardens) I took a swing through this afternoon and it looked nice, but rather sparsely built out.

Buildouts? Emminent bankruptcy? Draconian review board? Hidden gem? :idontno:

Replies

29
ckhagen avatar
Beach Fanatic
#2
Are you referring to Forest Lakes maybe? I'm a little behind on all the names of the developments lately.
scooterbug44 avatar
SoWal ExpertAuthor
#3
Yes, that's the one - sorry! :blush:
Matt J avatar
SWGB
#4
Seems nice, but after going thru the model home and seeing the price tag I couldn't help but giggle.
Matt J avatar
SWGB
#5
Didn't it used to be a trailer park?
scooterbug44 avatar
SoWal ExpertAuthor
#6
I thought so - and the sales office doesn't really stray from those roots. ;-)

Looked nice, but as you can tell by the thread title oopsie and the fact that I know nothing about it, the marketing could use some work. :wave:
ckhagen avatar
Beach Fanatic
#7
Well, back in the day... I actually put together the website. It seemed to be doing really well at that time, but the sales definitely took place at a peak and then it seemed that a lot of the buyers must have been flippers because they turned around and tried to sell them for something like double what they bought them for...
I have no idea what the situation is now though because my involvement ended 4 years ago.
Matt J avatar
SWGB
#8
What was the website address? Is it still up and running?
JoshMclean avatar
Beach Fanatic
#10
Hidden gem...one day.
chrisv avatar
Beach Fanatic
#11
So CK, you're WhosieWhatsit! I've always liked your work.
Do Good avatar
Beach Fanatic
#12
I love that area- and I agree with Josh- one day!
Matt J avatar
SWGB
#13
Thanks CK, very nice work!
ckhagen avatar
Beach Fanatic
#14
So CK, you're WhosieWhatsit! I've always liked your work.

Nah, I was at Redfish Creative 4 years ago (prior to my kids being born)... when Redfish closed up, Cale (the err... art director? vp? partner?) and a few others opened Whozie Whatsit and took over all the clients.

Forest Lakes was definitely a nice project at the get-go... I'm thinking it suffered because of the flippers. They jacked the lot prices up so high that I think it stalled sales and build-out until past the market peak.
Matt J avatar
SWGB
#15
It is starting to build out. I remember it wasn't too long ago that the one house in the North West corner was the only one in the whole thing. Seems to be quite a few under construction.
Yellow Hammer avatar
Beach Lover
#16
And the ponds are full of bream and small bass, if you can get your bait past the turtles, it makes for a good day.
scooterbug44 avatar
SoWal ExpertAuthor
#17
Thanks for the website!

IMO a community loses ALOT of appeal once I start seeing the level of micromanaging/interference there will be..........and that their featured plans are so well thought out they don't have laundry facilities and guests have to go into a bedroom to use the restroom :roll:

I don't want my neighbors keeping livestock or having cars on blocks in the yard, but 22 pages of rigid rules makes me go :leaving:

Like the pool and lakes though! :biggrin:

Edited

Smiling JOe avatar
SoWal Expert
#18
I really like that property. Give it enough time, and it will be very nice, I think. It, like many other developments, hit just before the peak of the market, and the money dried up, so builders couldn't afford to build. I don't know for sure, but it seemed to me that every lot which came on the market, sold within a few days. I'm not sure if the developer is still holding lots.
scooterbug44 avatar
SoWal ExpertAuthor
#19
I liked it too, I'm just realistic about how well I would do in a highly regulated community. :wave:

IMO they can tell me what my house should look like and where I can hang my laundry when they give me construction $ and do the first load. :biggrin:
Smiling JOe avatar
SoWal Expert
#20
i hear you. Stay put.
elgordoboy avatar
Beach Fanatic
#21
I really like that property. Give it enough time, and it will be very nice, I think. It, like many other developments, hit just before the peak of the market, and the money dried up, so builders couldn't afford to build. I don't know for sure, but it seemed to me that every lot which came on the market, sold within a few days. I'm not sure if the developer is still holding lots.
I think the developer had/has only a handful of lots left. When I was looking at the neighborhood it appeared that nearly every lot had sold at inception a few years ago. $115,000 range was the initial pricing I believe for interior lots, peaked around $415,000 for an equivalent lot with flipping. The first house built in there is a higher grade build/finish (and price) than what is now being put in (I think) in an effort to stimulate demand.
ckhagen avatar
Beach Fanatic
#22
I really like that property. Give it enough time, and it will be very nice, I think. It, like many other developments, hit just before the peak of the market, and the money dried up, so builders couldn't afford to build. I don't know for sure, but it seemed to me that every lot which came on the market, sold within a few days. I'm not sure if the developer is still holding lots.


I agree... I spent some time on the property taking pictures and whatnot for some of the materials and it's really pristine. The location is just gorgeous and the overall idea is very nice.

The lots did all sell out by lottery initially (all the ones they put up). I'm trying to remember if they held any, because we put together an interactive map that went lot by lot within pricing and specs, but that's not on the site anymore.

Those darn flippers just seemed to price them high enough to keep parties interested in actually building out of the pool of buyers long enough to pass the peak.

Come the time when they were listing them for $400k+, I was really wishing I had asked for a lotto spot for the original prices! Considering I started work on the site long before the sales started.
scooterbug44 avatar
SoWal ExpertAuthor
#23
I don't know how the prices in general compare to the lotto prices, but a cursory search on the MLS found one around $200K which I don't think is a bad starting price for a 1/4 acre lot close to 30-A w/ amenities. :wave:
elgordoboy avatar
Beach Fanatic
#24
There was one not too long ago for 184k I believe..it was only 40' across but like 300 deep though.(1/4 acre +/-)

Edited

GTSViper avatar
Beach Lover
#25
I am not sure, but I think every house in the development is a short sale right now.
Beach Fanatic
#26
I like the development too... beach access is a big hangup for some I suppose, in that its a long ways away... like Cypress whatchamacallit, down east on 30A.... out yonder near the intersection of hwy 98 and the infinity edge pool somewheres

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