Hammock Bay Bank Owned

[ASH]

Own a big piece of Hammock Bay: Bank Owned

Does this really mean what I think it does...

BANK OWNED - HAMMOCK BAY & SANTA ROSA GOLF VILLAS HOMESITES

I just got an email from Coldwell Bankers advertising both of these as bank owned.

The ad noted 84 lots for $2.8 million in Hammock Bay and 34 lots for $2 million in the Golf Villas

 

[beachmouse]

Details?

 

[ASH]

I tried to cut and paste the email, but couldn't. PM me an email address and I'll forward what I got.

 

[beachmouse]

Done. I'm curious now. A quick google turned up a REO listing for a bulk group of about 90 lots to be sold as that group.

 

[ASH]

You should have it. I dug up a local realtor site in Destin that has local properties, but nothing on Hammock Bay.

 

[beachmouse]

Got it. Thanks.

 

[30abob]

A quick review of the Walton County Property Appraisers site shows that a large number (didn't check all) of Hammock Bay lots that were owned by Turner, a large Tallahassee based builder, were foreclosed by Whitney Bank.


The same thing happened to John Willis Homes at Santa Rosa Golf Villas and a small Sandestin development, can't remember the bank that wound up with them.

Both of these are cases of Builder/Developer tracts of spec lots that went back to the bank... no big surprises there.

If you want to scare the beejesus out of yourself go to the property appraisers site and search by "owners name"; enter the banking institution of your choice and be ready to be blown away!

 

[Busta Hustle]

and after you are blown away by that go check to see how much each of those banks has received in TARP funds...

by the way this thread title should probably be changed.

 

[ASH]

So it's not Hammock Bay, just a bunch of lots within Hammock Bay. The ad sent to me does not differentiate and makes it look like the whole place is on the block. Kinda sneaky of a realtor to make it look enticing to a developer who would want their name attached to something that big.

 

[ASH]

by the way this thread title should probably be changed.

Tried, it can't be done any longer.