watersound north

IIRC Joe completed any current projects and stopped. Until the current inventory sells what's the point of continuing to build empty buildings?

I don't believe St. Joe has built anything for sale back there. There was the Southern Living home, but the others are private builder programs. St. Joe is offering real strong incentives to spur early activity. Still, I would have a hard time paying more than $65,000 for a lot in WaterSound North with the WaterSound West Beach pricing being what it is. Watercolor Phase IV is even looking real valuable in comparison at $100,000 or so per lot. St. Joe does have such a broad selection of the best product between all their local communities.

Maybe a lot home package at WaterSound North for $375,000 that's 3 bed with Bunk Room and 3 1/2 Bath is healthy.

IIRC Joe completed any current projects and stopped. Until the current inventory sells what's the point of continuing to build empty buildings?

Do you think EBSCO is doing correct by continuing to develop Alys despite the sales environment?

Do you think EBSCO is doing correct by continuing to develop Alys despite the sales environment?

Yep, their target audience still has cash in the bank. When Alys beach is done it's going to make other developments look like the slums by comparison.

Yep, their target audience still has cash in the bank. When Alys beach is done it's going to make other developments look like the slums by comparison.

agreed

Alys Beach continues to surprise and impress me - not an easy feat! It's head and shoulders above any other development on 30-a with its architecture and attention to detail.

WaterSound North is no more. They have dropped "North". There is only WaterSound, WaterSound Beach, and WaterSound West Beach.

There are plenty of lots for sale in WaterSound and 5 homes, but little activity as you might expect.

http://www.joe.com/watersound-community/Property-search

Yep, their target audience still has cash in the bank. When Alys beach is done it's going to make other developments look like the slums by comparison.

It sounds like you answered your own question to me. When you ask, "Until the current inventory sells what's the point of continuing to build empty buildings?" I'd say it's probably better for JOE to continue to develop enough housing to complete one full neighborhood cluster. Buyers don't have vision.

Alys Beach continues to surprise and impress me - not an easy feat! It's head and shoulders above any other development on 30-a with its architecture and attention to detail.

Way, way overpriced and nothing is selling in there as a result. I don't think there have been more than a handful of sales in there over the last two years. Product does not have broad appeal compared to WC, WS and RM. Product has been moving in these communities but not in Alys.

Yep, their target audience still has cash in the bank. When Alys beach is done it's going to make other developments look like the slums by comparison.

And, at the pace of sales over the last two years, when do you expect Alys will be done? Maybe, year 2400? It may take them another 30 years just to finish phase I.

In addition, like any other company, EBSCO does not have endless resources. I would imagine that their print business is suffering like most other print businesses and they don't seem to be selling much at Alys. Not sure how their other businesses are faring, but not many industries are exactly flourishing at the current time. Wonder how long they will hold on and continue to develop Alys if sales don't materialize soon.

Alys has actually been advertising winter sales of 20% off of rental units trying to get some people to book something. It's rough.

Alys Beach continues to surprise and impress me - not an easy feat! It's head and shoulders above any other development on 30-a with its architecture and attention to detail.

I agree with you :blush:

I agree with you :blush:

Alys Beach continues to surprise and impress me - not an easy feat! It's head and shoulders above any other development on 30-a with its architecture and attention to detail.

Unfortunately for them, they aren't surprising or impressing enough folks to make the place viable.

Unfortunately for them, they aren't surprising or impressing enough folks to make the place viable.

Well I respectfully disagree - we happen to be currently living in an absolutely awful economic climate. For now things may be slow but I do not remotely worry about Alys -in the long run it is going to be an exceptional community and Ebsco is committed to their vision, as are the many people who work, live and vacation there. And even if Alys is currently in the infancy of its growth it already has a tremendous following.

Well I respectfully disagree - we happen to be currently living in an absolutely awful economic climate. For now things may be slow but I do not remotely worry about Alys -in the long run it is going to be an exceptional community and Ebsco is committed to their vision, as are the many people who work, live and vacation there. And even if Alys is currently in the infancy of its growth it already has a tremendous following.

How many lots sold in WC last year? WS? RM? Now how many sold in Alys? I bet more lots sold in the Preserve or Cypress Dunes than sold in Alys?

How many houses sold in WC last year? WS? RM? Now, how many sold in Alys? Again, I bet more homes sold in the Preserve or Cypress Dunes than sold in Alys.

In addition, there were 4 sales listed in Alys last year that actually appear to be repurchases by EBSCO of properties sold in prior years.

Some people like Alys, but the numbers just aren't adding up. If the place was truly appealing to lots of folks, Alys would be selling even in tough economic times just like they are in WC, WS, and RM . The place will never have the broad appeal of these other properties. It's too niche and that's why it isn't selling.

Fisher, you have been critical of Alys Beach on these forums before, and seem to be going beyond personal opinion. Can you tell us what your real beef is?

How many lots sold in WC last year? WS? RM? Now how many sold in Alys? I bet more lots sold in the Preserve or Cypress Dunes than sold in Alys?

How many houses sold in WC last year? WS? RM? Now, how many sold in Alys? Again, I bet more homes sold in the Preserve or Cypress Dunes than sold in Alys.

In addition, there were 4 sales listed in Alys last year that actually appear to be repurchases by EBSCO of properties sold in prior years.

You might like Alys, but the numbers just aren't adding up. If the place was as impressive and surprising for most folks as it is to a few here, Alys would be selling even in tough economic times just like they are in WC, WS, and RM . The place will never have the broad appeal of these other properties. It's too niche and that's why it isn't selling.

Fisher,

I like all the communities you list and others also not on your list. I do not measure the success of a community based strictly on sales in this kind of economic environment.

In Alys I see the burgeoning of a beautiful and spectacular town (like WC, RB, Seaside and others) that has attracted worldwide attention and that will continue to garner praise for its many features. And I am hardly alone in this assessment and think Alys has appealed, does appeal and will continue to appeal to a broad spectrum of people interested in architecture, landscape, sustainability, amazing amenities, etc... and many other factors not measured strictly by the number of sales in a struggling economy.

You are obviously entitled to your opinion and it seems to me that you dislike Alys for a myriad of reasons (your right of course) but your broad dismissive sweep of this project seems motivated by factors that are a little puzzling to me.

Fisher, you have been critical of Alys Beach on these forums before, and seem to be going beyond personal opinion. Can you tell us what your real beef is?

I wouldn't expect it. Fisher is probably a realtor that has a long list of complaints against them. Resulting in a banning from Alys Beach.

My favorite thing about Alys Beach is the great view of the Hilton home.
:rolling: