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I think housing has become a huge cost as a % of income....it continues to be at all time highs. The cost of housing in sowal may never hit the point where long term rental cash flows, but in normal areas such as dallas, this needs to be the case or pretty damn near the case. there is some...

I think AAbsolute hit the nail on the head...i continue to beleive that residential real estate will sink to a value where the cost of the home + hoa + re tax etc will cash flow in the rental mkt...i still think there is a huge disconnect between the rental mkt and the for sale mkt in the US...

There are like 7 total bldgs with 2/2s all just under 1,000 SF the last Phase 7 has stainless and granite and tile flooring. i beleive HOA is more like 267 or so but that was a couple yrs a go so insuarance has likely caused an increase. They rent for around $900/unit/month on long term....i...

dunefrog...obviously u have an agenda which is fine, but the reality of the situation dictates that RE values in SoWal and the nation as a whole will continue to decline for a number of reasons to name a few: 1. To much supply 2. Tighter lending 3. Owner vs rental mkt continues to be...

I'm not sure if the $75M figure is exact but the purchase price was around that amount...LUK's carry isn't $4.5M per month its more likely around $4.5M per year which is 6% annually. LUK has great credit and access to cheap money. I'm not exactly sure when the money changed hands...I would...

Shelly I am not saying that I personally prefer a Tamp or Irvine like build-out...actually I do not...however, that is not for me to decide. The airport, JOE's, LUK's and others' involvement has to do with business decisions. It is short sighted to beleive that the PCB airport will be an...

i have been as negative on housing as anyone on this board with the exception of Shelly...but JOE has done extensive studies on what happened to communites such as Tampa and Irvine CA when large capacity airport facilities became available. yes we are in a prolonged housing slump right now...20...

just to clarify i'm speaking of the cottage style lots (around teh horseshoe near 30a)...i know some of the larger lots closer to the beach are more expensive.

i think you could build that for $175 - $200 / SF...now cooper robertson plans may be pricey...but i dont think $250 pricey. I could be wrong. Lots there are probably in the $200K range I would imagine...they were mid-$300Ks I think we they first came out.

congrats

i agree 1,000% with #4

how would a series 7 change anything? when was the last time your broker told you it wasn't a good time to invest in stocks / bonds / whatever the security flavor of the day is?

people still live in detroit??...why would u build even one unit of residential in an area that is experiencing mass exedus?

You think $5400 / year is a large assesment at WC...last time I checked WSB's assessments were about double that....enjoy!!

JOE provides 2 fractional opportunities...one in watercolor and one in watersound beach. they are condos and you should simply contact a JOE salesperson from the website and they will give all the info you every wanted to know. good luck

Leucadia's comments regarding ResortQuest in the annual report below: ResortQuest ResortQuest was acquired during 2007 for $11.9 million in cash. The company is headquartered in Fort Walton Beach, Florida on the Panhandle and manages vacation rentals for the owners of 7,766 units. We...

i just cut and pasted...so yes "peek of the mkt"

Received this email today from Sandestin... Hello from Sandestin Resort,The season is off to a big bang in the real estate world at Sandestin. We have experienced a high volume of buyers ready to take the next step in becoming a Sandestin homeowner. This is the change we have been patiently...

Not bad at all!! especially considering the HOA at WaterColor and WaterSound Beach

dano to be very honest with you i would not anticipate any appreciation over the next 2-3 years...there just too much supply and the location is not great.

i agree....it will be a very nice community although it will definitly take some time to get built out...i think it will do very well as a rental community as well once it matures...would not look at it as just primary and some decent value considering. HOA probably kinda high as in all JOE...

look in heron's watch it is a mile or two to the west of there and they are 2/2 right around 900...should work very well for u. good luck

no worries was about to post it for u...ex-banker habits die hard

i'm very surprised the prices of these 2 are the same...watersound is by the far the superior community and it should not feel "busy" at all...its pretty exclusive with plenty of space to spread out...10x better architecture and beauty imho

yes porrly timed and planned from the get go on almost every critical level. you know they wished they had sold to JOE, that property was meant to be a part of watersound beach and they fought that and turned down some very good offers out of pure stubborness...as they say hogs get slaughtered.

a couple of comments... 1. i dont get piers...from p'cola and we have one...whats the point really...fishing? its really just a large obstruction in an otherwise beautiful body of water. i guess people like to walk on them...worthless...just my opinion. 2. opinion: i think the best...

kids its a $7 burrito in Seaside...no one cares about 15%.

i will just put in my 2 cents quickly... i have looked into prosper as way to invest in a vehicle that has little correlation with the overall stock mkt, in this research i found that many of the lenders where very dissapointed by proper's collection process...prosper makes money by lending...

sounds like watercolor...high end of ur price range...maybe seacrest out!

i'm not afraid to look at numbers...could qualify for mortgage np then as well as now.

SJ I hear ya...by saying i'm throwing money away was not totally accurate...let me rephrase: really i'm frustrated that because residential real estate is a poor investment i'm stuck investing in the other vehicles available to me....namely stocks...it hurts with diversification as well as...

i have been saying this from the start...rental income is way too out of line with home prices...thats why i'm 30 and still rent. honestly its frustrating to me cause it forces me to throw money away by renting. i think vacation areas will always be even more out of whack due to their "high"...

Re: Prominence SJ you might know this...I'm just curious about Prominence sells and pricing any update? Also curious about Alys...have both of these developments ground to a halt? thx

no...thats 120k all-in.

for real, no kidding....about $120K. of course i am just one person with an opinion...who knows what the mkt will bear.

unfortunatly bobby j this unit is overpriced. I used to rent one for 1,000 a month and it did have granite and stainless and it was 2nd floor in one of the newer bldgs. 169,000 with a traditional mortgage yields 1,125/month not to mention 235 in HOA plus re taxes etc. this is the...

Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0 10% can be justified in that an auction typically renders a buyer quicker...so instead of putting it on the mkt for 120 days and auction may sell the property in 30 days thus saving 90 days of carry/expenses...

http://biz.yahoo.com/bizj/071011/1533604.html?.v=1 Lucaidia (sp?) NYSE: LUK steps in to buy the bay county airport site after original buy couldn't get financing. LUK developed Rosemary and are a very interesting company that has a long history of value creation...i would say good for the...

anyone else find it amusing that they are combining an RV park and a 25 story condo tower...that right there is enough for anyone with common sense to know that a high rise is not the right use for this area.

you would not beleive some of the structures ducky has moved...tell him to show you photos. he can move this easily :D

probably the "nicest" (watersound beach...watersound is different) on 30A...pretty exclusive...ROI has been great unless you bought in 05 and are trying to sale now...probably some pretty good deals in there.

i'm sure JOE donated the land to the school board for the construction of the school

nasty nasty day for the mkt...its been a while...still would be leary of homebuilders and financials with mortgage exposure. the mortgage exposure companies may be a bit oversold as i think jobs and income will still keep losses fairly low even though loan to values are creeping up...but...

thats funny shelly...but not jim's fault...hes a good guy!

maybe a play for JOE...adjacent to northern land holdings and across the street from Camp Creek...why not? besides maybe being a little strapped for cash (but they could figure it out)...will be interesting

lived in sowal for about a year and been to B&As many times...have never had any problems there and would even rate their service as good. it is my favorite bar in sowal and like their food too...although i haven't been there in a year. maybe things have changed??

goofer the private equity binge on real estate is a leverage play. They find assets that are generating cash flow and then purchase them with debt to increase return on equity. private equity has no interest at all in buying assets that will take generations to produce earnings. These guys...

i think most people that buy fractionals what the services and amenties that often accompany them. plus there is plenty of competition from watersound beach, rosemary, watercolor, and magnolia. good luck tho

yeah that is probably true, but the regulators are the ones who really monitor OREO...and they are sure to manage the amount held very closely.

Re: Prominence possible higher quality than WaterColor...very very doubtful higher quality than WaterSound Beach...that would be extremely difficult as they spared no expense in that development