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Bob

SoWal Insider
Nov 16, 2004
10,468
1,346
O'Wal
Just an observation, but has anyone noticed how the buy/flip craze is limiting/delaying growth in SoWal. Isn't Grayton Preserve still a ghost town. Those lots started south of 200k and are currently trading at 400-600k range. Same is true at Village o' blue mt. and many smaller cul de sac subdivisions. The pass it on craze is in full swing, as long as buyers are ready, willing and able. I guess the benefit to locals is a walk on the beach will be less crowded for some more time to come. Maybe "greed is good", or at least it has a beneficial side effect or two.
 

RedFish

Beach Crab
Mar 2, 2005
4
0
Bob you shouldn't be upset. You did get a lot while they were as you say south of $200k?? Some thoughts on why the Preserve may be slow developing;
1. Five year build-out period.
2. We're not talking St. Joe Company. The Preserve has no PR / Marketing Department.

Surrounded by State Forest, Deeded Beach Access, gated, two pools, low HOA Fees....

If there was a PR / Marketing / Sales office the lots would be a lot higher!
 

Kurt Lischka

Admin
Staff member
Oct 15, 2004
12,457,836
4,599
SoWal
mooncreek.com
GG had a very large cell phone. :lol:

The Village of Blue Mountain is a travesty. First they clear cut some beautiful property, then went bankrupt. It was bought and completed and has been selling and there is building going on. I'm not sure yet but I think it will end up being one of the most unattractive developments in SoWal.

But it's got the location so It will probably still be desireable.
 
Last edited:

Sheila

SoWal Insider
kurt said:
GG had a very large cell phone. :lol:

The Village of Blue Mountain is a travesty.
But it's got the location so It will probably still be desireable.

My husband and I actually looked at a house close by that area in '00. We were both so put off by the area, which at that time just been clear cut and vacant, we backed off that deal.

So far we are happy we did. We have kept our eye on that area since then and have often wondered why it had never really been developed. Now we know why.

Thanks for all the good info!
 

Bob

SoWal Insider
Nov 16, 2004
10,468
1,346
O'Wal
I agree with you Redfish, but consider this. When you buy with St. Joe, you are essentially buying a contract to build{with their approved builders} within a relatively short timeframe. Kind of like a 2nd home construction club. Now I am a capitalist, and the rapid escalation of values in SoWal will have many great benefits, but one dynamic going on here is about to happen to SoWal. Most of the new construction purchases in Lake and Osceola counties are foreign, lead by our good buddies, the Brits. The entire southern/western residential swath surrounding Disney is a vast residential rental zone. These foreign buyers are, in many cases, getting two for one on the currency exchange. When the new PC airport is finished, the foreign "happy hour" buying frenzy will arrive in SoWal{unless GW balances the budget and the dollar rebounds....sure}. That's a good thing, no? Until then, lot flipping, in my opinion, will become an art form in South Walton and many small subdivisions will be slow to sprout houses. Let's all rise and sing "God Bless America"!
 

Bob

SoWal Insider
Nov 16, 2004
10,468
1,346
O'Wal
Kurt, Just imagine that if you could live to 150, you could take Gecko's huge cell phone on The Antiques Roadshow for valuation. Well, maybe Wheel of Fortune. It'll be the only TV show to survive that long!
 

Camp Creek Kid

Christini Zambini
Feb 20, 2005
1,271
118
50
Seacrest Beach
Along 30-A, I personally think the lot flipping is slowing down because there aren't many lots left. Real estate inventory is very low right now. I don't know if everyone is holding on and waiting for prices to get even higher or if current owners actually want to keep their properties. Things will continue to appreciate even without the investors. It is all about supply and demand. Demand should always remain high along 30-A, but supply is low. I've been looking for a certain size home in a specific area. Last year there were dozens to choose from. This year there are just a few.
 
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