Naturewalk - signs of life?

I could see many retirees and second homeowners buying there to enjoy the nearby 30A amenities. Not everyone thinks daily beach camping is the best thing about Sowal. Biking, walking, community events, no interstates, lack of snow to shovel etc. are also big draws.

Permanent? Snow-birders? Weekly/Monthly Vacation'ers?

Does anyone have any thought about who might be the target cross-section for Naturewalk buyers?

I've grown up in tourist areas, and Naturewalk would perhaps interest me--if it was NOT subject to short-term weekly/monthly vacation renters. (I've lived in those spots before, as a permanent resident--and not my cup of tea).

Thoughts, on Naturewalk, in this regard?

Thanks.....

That is something that would have to be spelled out in the covenants and restrictions. I don't have any idea what they will be/what they are, but I doubt they would ban short term rentals at that location.

I agree with you - would want to buy where no short term rentals are allowed, as behavior level seems to be declining.

That is something that would have to be spelled out in the covenants and restrictions. I don't have any idea what they will be/what they are, but I doubt they would ban short term rentals at that location.

I agree with you - would want to buy where no short term rentals are allowed, as behavior level seems to be declining.

I would imagine they will allow short term rentals in Nature Walk. But... I really don't see it being a hot spot for short term rentals.

Does anyone have any thought about who might be the target cross-section for Naturewalk buyers?

I've grown up in tourist areas, and Naturewalk would perhaps interest me--if it was NOT subject to short-term weekly/monthly vacation renters. (I've lived in those spots before, as a permanent resident--and not my cup of tea).

Thoughts, on Naturewalk, in this regard?

Thanks.....

Our area of Dune Allen Beach, Sea Dunes, has no rentals shorter than 6 months in their covenants. I know of a few lots in there that are available.

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The Retreat in Blue mountain area is gulf front with no short term rentals.

I was thrilled to see the pricing, we are building in a much better location right on 30A for much, much less. Although our homes will be more conservative in size, you can do a lot with the $150K you will save and still get 3 bedrooms or 3 with a bunk. We looked at buying Nature Walk a while back, the numbers didn't pencil for us especially with the bond holders not willing to take a haircut. We needed to trade starting in the mid $200's to get the velocity we were looking for. Also, when dealing with banks these days you need an out in case you screw up and can't sell the house. Being in a resort rental area gives you that out, I know we can rent the homes we are building and achieve a cap rate of 15 to 25. It's going to be tough to have a $400K home in Nature Walk and expect to gross anything close to $40K to $50K a year with no beach access, maybe get $30K if you are lucky? Anyway, I happen to think they are $100K overpriced in that location at the present time but wish them nothing but success, hopefully they will prove me wrong.

Noticed new signs up yesterday that said "from the mid 300s".

Still not low enough to excite much interest considering all the negatives associated with this location IMO.

Still not low enough to excite much interest considering all the negatives associated with this location IMO.

Besides distance to the beach what are other negatives? What is the right price for a 2,000 sf house in Naturewalk?

Why do you think that location is so negative? You're on a NS connector road between 30A and 98, close to a bike path, near amenities like groceries, liquor, dry cleaning, etc. and can easily take advantage of all the 30-A events, shops, and restaurants.

I'm guessing "the mid 300s" doesn't include the CDD bond repayments.

i'd say the right price is $250k or $125 a square foot. in many nice neighborhoods you can buy 550k lots from 2005 for 60-80k and build a 2000 square foot home for 200k. You have 260k in an estabilished neighborhood 1/2 the distance to the beach than nature walk. seagrove has several of them

i'd say the right price is $250k or $125 a square foot. in many nice neighborhoods you can buy 550k lots from 2005 for 60-80k and build a 2000 square foot home for 200k. You have 260k in an estabilished neighborhood 1/2 the distance to the beach than nature walk. seagrove has several of them

I say it's hard to say what they are worth until we see the quality. I think if they build with garages they may have hope. Homes under 300 are getting hard to find Ray. Sea grove has several? You talking the bungalows?

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 think I saw that Joe just purchased Tract B.

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.

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?

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.

What are DRB neighborhoods?

What are DRB neighborhoods?

Hoods that have design review boards (DRB).

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.

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 $$$$$$$$$

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?

I'm sort of sad Prominence tanked - the currently built stuff would make great worker housing.