Let the bidding begin...Alys Beach
- Thread starter Joe Complete
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Camp Creek Kid said:
Does Camp Creek Kid care to clue us in to the latest and greatest on Alys Beach?
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Along all of your lines today's NYTimes has an article and map showing the nation and where the most interest only, balloon loans are starting to "mature", yes you guessed correctly, SoWal is right behine South Florida. I have no idea what that means since I know nothing about real estate, but my guess is more property will come on line. Will it be more than there are buyers? As someone said, this will be a very interesting next few months.
Those who are upset with the Alys beach strategy are not the clients Alys is trying to attract. I agree the prices are high and the concept of bidding is new on 30A but they want families who will stay a lifetime and the people who pay these prices can probably afford to stay a long time. It is my understanding that the long term goal at Alys is to be the 30A community most thought of in terms of quality, desirability, and asthetics.
And if they don't reach this goal with the kind of money they're asking they should be ashamed.
And if they don't reach this goal with the kind of money they're asking they should be ashamed.
Anyone think that there might be a drying up of even the most wealthy clients (which Alys is trying to sell too)? Do you think prices can fall here? 
Previously, it was very difficult to get an appointment to see the sales reps. This weekend the sales office was empty. I think their concept is great and want to own there but I'm afraid that the market won't support their prices. I don't think that any community along 30a will be immune from any falling prices. Other thought appreciated.
Previously, it was very difficult to get an appointment to see the sales reps. This weekend the sales office was empty. I think their concept is great and want to own there but I'm afraid that the market won't support their prices. I don't think that any community along 30a will be immune from any falling prices. Other thought appreciated.
Smiling JOe said:
SJ, I have been busy living my life and have not been worrying about Alys Beach. I do not claim to be an expert on Alys Beach and my defense of the development was a defense of the individuals involved with Alys Beach, some of whom I know personally. I think it is a beatiful development and it it will be a wonderful place to live someday.
Alys Beach has always planned to offer some of their properties by sealed bid. They have also sold many properties/homes through presales. I have friends who were offered a homesite, but declined because they had already bought elsewhere.
Alys Beach's weakness may be in how slowly they are progressing in home construction and development. Many investors may have lost interest. We wanted to live their full-time, but have decided that we're tired of being full-time residents in a vacation community with renters. We're making other plans. I know others who planned to live there full-time, but have changed their minds for various reasons. Some don't want to wait 2-3 years for architecture and construction, others don't want to be so close to their neighbors. A few were tired with the wait to be offered a property.
If you don't like Alys Beach, stay away. But I bet everyone has something better to do with their time than speculate and criticize.
I'd be interested to hear from some of the people that received bid info on what types of properties and how many.
What I've read is that most property that has been released was sold awhile ago and that only a limited number of "special" properties were under sealed bid.
Whatever the case, IMHO they will not have any trouble finding ready willing, and able buyers - but maybe not quite as quickly as 3 years ago.
The little bit of pricing info I've heard is not out of line with the other NUB towns.
What I've read is that most property that has been released was sold awhile ago and that only a limited number of "special" properties were under sealed bid.
Whatever the case, IMHO they will not have any trouble finding ready willing, and able buyers - but maybe not quite as quickly as 3 years ago.
The little bit of pricing info I've heard is not out of line with the other NUB towns.
The package I received had 9 lots.
6 lots were in phase 1A (north of 30A) with prices ranging from $785,000 to $1,700,000. Construction commencement ranged from 18 months on the $785K lot to 36 months. Property types included Courtyard, Compound and Villa.
3 lots were in phase 2B (south of 30A) and ranged from $1,400,000 to $1,725,000 with constuction commencement dates of 24 months. Property types were all Courtyard homes.
All had a build-out requirement of 18 months from the commencement date.
6 lots were in phase 1A (north of 30A) with prices ranging from $785,000 to $1,700,000. Construction commencement ranged from 18 months on the $785K lot to 36 months. Property types included Courtyard, Compound and Villa.
3 lots were in phase 2B (south of 30A) and ranged from $1,400,000 to $1,725,000 with constuction commencement dates of 24 months. Property types were all Courtyard homes.
All had a build-out requirement of 18 months from the commencement date.