Commodores Retreat

Lynnie, can you tell me more about the loan that Commodore's HOA received, and when? I talked with a lawyer friend of mine today and he said that when a bank forecloses on a condo, they get clear tiltle on it regardless of any liens by the HOA. The bank's lien is superior, and the HOA is left holding worthless paper. This was his assessment of that particular situation, but again, may not be written in stone.

I'd ask to see a valid bar license.

If the lien is filed prior to lis pen then it should continue to be valid.

Lynnie, can you tell me more about the loan that Commodore's HOA received, and when? I talked with a lawyer friend of mine today and he said that when a bank forecloses on a condo, they get clear tiltle on it regardless of any liens by the HOA. The bank's lien is superior, and the HOA is left holding worthless paper. This was his assessment of that particular situation, but again, may not be written in stone.

I don't know anything more. I got info. from a good friend who is an owner there. In this lending environment (on a bldg. like that with foreclosures), it wouldn't surprise me if the loan didn't close. If there was a loan, you could find it in superior court records, though.

I'm mostly just curious, but the questions about HOA dues/liens/foreclosures have more far-reaching implications. Do we allow lawyers on SoWal, or are all of us "counselors" in our own peculiar ways? Somebody chime in with the Truth...

Commodores Rertreat

We were in Seagrove in early September. Stayed at Beachcrest. Were wondering if there has been any additional progress at Commodores Retreat adjacent to Eastern Lake. We have many memories there and hate to see it in a state of paralysis. Any Info welcomed.
Thanks!

We were in Seagrove in early September. Stayed at Beachcrest. Were wondering if there has been any additional progress at Commodores Retreat adjacent to Eastern Lake. We have many memories there and hate to see it in a state of paralysis. Any Info welcomed.
Thanks!

Sorry to disappoint you. The work at CR seems to still be on dead stop. I haven't seen a live person there in months.

CR used to be jam up in the summer and also had a goodly crowd of snowbird in the winter. I'm sure a lot of folks miss it, but the situation described in this thread sounds grim and doesn't appear to have been resolved.

I see there is a top floor unit listed for sale at $60,000 - with clear disclosure that the unit is not habitable and a special assessment is expected. Looks like it is Wells Fargo REO per the tax records.

Any hope that this building will be habitable anytime soon? Appears to be a bad situation for all concerned.

We drive by each time we are down there. The last time was July 4th week. Feel badly for people who had money invested in it.
We stayed there two or three times in the early 2000's. Great spot by Eastern Lake.
Would have recommended the place to anyone - we had one of the smaller units. 1 bedroom with a bunkbed in the hallway which was fine when we took one grandson. He loved having the pool. I don't know if they still build the bunkbed reset into the hallway anymore. Would only be good for young families.

I've stayed next door at Eastern Shores several times. Such a terrific location. I'm sure the neighbors would love to see some progress almost as much as the owners.

I thought I saw scaffolding there this past weekend, but it could have been a different bldg.; I was looking from the beach and could have been confused. I believe a lot of the owners have chaulked this one up to losses.

so what do units owe apiece? Do they all each owe $50K in arrears? or do they owe $50 so far, for the unfinished work, plus some other amount to finish?

this is a good question. i've been watching for a reply, but none yet. i wonder exactly what it would take to resolve the issue and save the building, besides an individual with enough money to clear everyone out. obviously that's not happening anyway.

I see there is a top floor unit listed for sale at $60,000 - with clear disclosure that the unit is not habitable and a special assessment is expected. Looks like it is Wells Fargo REO per the tax records.

that this building will be habitable anytime soon? Appears to be a bad situation for all concerned.

That unit is under contract.

so what do units owe apiece? Do they all each owe $50K in arrears? or do they owe $50 so far, for the unfinished work, plus some other amount to finish?

Waiting for a phone call for answers regarding the assessments and will let you know soon.

The only information I can get at this point is each homeowner is being assessed $650 per month. No one knows how long this will last and not everyone is paying. Also, a group of owners are trying to obtain financing to complete the building. Will let you know more as soon as something knew comes up.

so homeowners are still paying their normal hoa? hope none of them relied on rental income. what a mess.

so homeowners are still paying their normal hoa? hope none of them relied on rental income. what a mess.

Property taxes are still due so it kind of makes sense.

so what do units owe apiece? Do they all each owe $50K in arrears? or do they owe $50 so far, for the unfinished work, plus some other amount to finish?

Generally older condos like that are assessed equally. Only recently did developers wake up and realize that perhaps someone with a studio should be paying less than the 4 bedroom penthouse. It's listed in the condo docs and requires a 2/3 majority to change.

We drive by each time we are down there. The last time was July 4th week. Feel badly for people who had money invested in it.
We stayed there two or three times in the early 2000's. Great spot by Eastern Lake.
Would have recommended the place to anyone - we had one of the smaller units. 1 bedroom with a bunkbed in the hallway which was fine when we took one grandson. He loved having the pool. I don't know if they still build the bunkbed reset into the hallway anymore. Would only be good for young families.

Generally when rebuilding a condo it must be built back to the original design with wiggle room for code issues.

Does anyone know the latest on this place? My wife and I throughly enjoyed staying here for the location, condo size and that it had a small pool. We haven't been able to find a place that we liked as well as CR since it closed. We did stay at a place just up the beach from there and took some pics of CR from Sept 2010 trip.









If anyone knows of a place similar to this w/pool in around Seagrove Beach. Please let me know. Thanks!!

Any news on Commodore's Retreat?

I heard just yesterday that the log jam of progress on Commodore's has been cleared. The contractor who had done earlier work has reached a settlement with the homeowners, and that it will be rebuilt in the near future.

Thanks! You have made my day!

There is a top floor unit with the door open for a few days now. The racoons have been going in and out at night in the unit. If anyone knows who to call pass this on.

I thought Jim Irwin was the association manager for Commodores, at least at one time. You might try calling him.

Does anyone know the latest on the building? What's going on? Does anyone know of an owner interested in selling a unit?

I have seen some workers there recently. They have put up some new temporary hand railing. And I thought I saw some doors being replaced. Nobody does work for free, so there must be at least some money now available to finish some of the work needed on that building.