Heron's Watch Condos

Discussion in 'Real Estate' started by barrett, Sep 12, 2008.

  1. barrett

    barrett Beach Comber

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    I have been a lurker here for a while, now I have a question. Could anybody with real estate experince in the area tell me about the Heron's Watch Condos. Are they soundly constructed, would they be a good investment and such. Thanks for any answers and have a great day.
     
  2. Bob

    Bob SoWal Insider

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    I think Bobby J knows Heron's Watch
     
  3. Smiling JOe

    Smiling JOe SoWal Expert

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    I have a couple of friends who own condos there. I am a Realtor, but I am not a construction engineer, and cannot vouch for "sound construction" on any building. I can tell you that I haven't heard any negatives regarding construction on those condos.

    As for "good investment," that depends on your definition of good investments, purchase price, interest rates, down-payment, rental income, occupancy rate, cash flow, and tax benefits.
     
  4. beachmouse

    beachmouse Beach Fanatic

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    They were originally built to be affordable and nice workforce housing. Unless a flipper 'updated' the units, you're probably not talking granite/stainless, but something more modest.
     
  5. Bobby J

    Bobby J Beach Fanatic

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    I have sold a few units in Heron's Watch over the years. Had a sale recently. I have never had any complaints from the buyers. I am a little surprised at how much they have dropped in value. There are three units in the complex under $120,000. Two of them are bank owned. I would think if this was in your price range and where you were looking it might be something worth taking a deeper look at. Looking at the MLS system the association fees range from $210 a month to $350 per month. If I remember correctly the correct fee is $350 per month. Maybe a little less. I would give the construction a B-.
     
  6. Matt J

    Matt J SWGB

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    Bobby J is the difference in dues based on the size of the unit or are all the Heron's Watch condos the same size?
     
  7. Franny

    Franny Beach Fanatic

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    They are all two bedroom, two bath. The second building is much newer and may have higher dues. I would need to research this in the mls. I sold in the original building and also resold the unit. Both buyers were extremely happy with their condo.
     
  8. Bobby J

    Bobby J Beach Fanatic

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    Not sure. It could be they are listed wrong. I will check it out.
     
  9. JUL

    JUL Beach Fanatic

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    cool website BJ! Love that you can hear the ocean and the turtles are grayt!
     
  10. egrp

    egrp Beach Lover

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    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 dont think it would be good for vrbo short term type rentals....access to eastern lake with a small dock. At $120,000 per unit you are likely below replacement cost even with the modest construction found on most units. good luck
     

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