Other Owl's Head development north of Freeport 2005-2008

[beachkids]

H & D makes very good points, but the opening paragraph speaks volumes--having established a homestead before all the "real estate craziness" and investulators drove property prices into the stratosphere.

In my opinion, many areas in coastal Florida no longer make fiscal sense for the "average" retiree who is just now making plans to move this way. Many were drawn to this state for a relatively carefree, affordable and enjoyable way to spend the golden years. Changing weather patterns, out of control development, and insane real estate and insurance prices should give newbies pause.

Georgia and South Carolina realtors are starting to see more than their share of "half backs" sniffing around for a place retire (Half-backs are Northern retirees who originally headed down to Florida planning on retiring here, not liking what they've found, and are now going halfway back up North).

Those making plans for retirement had better do some serious number crunching and soul searching before taking the plunge--whether one ends up in Florida, Vegas or Arizona, any paradise can turn into pure hell when the finances come up short or you live in a constant state of doubt and regret.

Funny you mention this... I keep getting sales info. from planned developments in NC and SC on lakes and golf courses. I thought lots in 30A were expensive until I see that many of the lots in NC and SC are starting in the $200 to $300's. I am sure these are the more upscale variety but land values have generally picked up across the country. Granted- not to the extent they have in Florida.

 

[SHELLY]

Funny you mention this... I keep getting sales info. from planned developments in NC and SC on lakes and golf courses. I thought lots in 30A were expensive until I see that many of the lots in NC and SC are starting in the $200 to $300's. I am sure these are the more upscale variety but land values have generally picked up across the country. Granted- not to the extent they have in Florida.

The rash of Investulators have spread to different areas...you'll have to wait about a year or two to shake out the latest crop of "greater fools." They're now setting their sites outside of the U.S.

Those who are still holding in Florida will soon be learning the lesson that real estate isn't a "risk free" investment and the folly of rushing to buy up condos "because they're not making any more sky."

The new gold standard is a buyer with cash or a pre-approved loan. (Put your offer on a business card and walk away. )

 

[beachmouse]

The people I know that are heading back north for retirement aren't spending $200K for land up there. The typical thing had been to buy 5-10 acres with a pleasant mountain/water view and deeded access at a TVA lake and spend something like $40-$65K for that parcel.

The idea is that they're going to sell their paid off homes here for something in the $250-$400K range and then pay cash for the new house when they get to Kentucky.

 

[SHELLY]

The people I know that are heading back north for retirement aren't spending $200K for land up there. The typical thing had been to buy 5-10 acres with a pleasant mountain/water view and deeded access at a TVA lake and spend something like $40-$65K for that parcel.

The idea is that they're going to sell their paid off homes here for something in the $250-$400K range and then pay cash for the new house when they get to Kentucky.

That's a plan...as long as they price their home here in Florida to move and don't try to be greedy.

For the most part, the folks who populate BWB aren't Trump-wannabees and haven't HELOC'ed their homes to kingdom come. Although they missed the boat for a quick and outrageously profitable sale last year, my guess is that they're not overly concerned...they can still afford to price their homes to market and enjoy their golden years by the lake.

 

[Mermaid]

It will be interesting to see what they've done thus far with the Owl's Head development. When we drove by in April on our way to the beach, it looked suspiciously like that wasteland subdivision called Prominence. Trees all cut down and as barren as a desert. I hope they've allotted a substantial amount of reserve money for landscaping.

 

[beachkids]

It will be interesting to see what they've done thus far with the Owl's Head development. When we drove by in April on our way to the beach, it looked suspiciously like that wasteland subdivision called Prominence. Trees all cut down and as barren as a desert. I hope they've allotted a substantial amount of reserve money for landscaping.

I think their HOA and club fees will help to pay that bill. It is quite a substantial amount. You could have bought a beach view lot on 30A just a few years ago for what they are asking for lots in Owl's Head. It is probably still a good long term investment. Who knows.

 

[Kurt]

It will be interesting to see what they've done thus far with the Owl's Head development. When we drove by in April on our way to the beach, it looked suspiciously like that wasteland subdivision called Prominence. Trees all cut down and as barren as a desert. I hope they've allotted a substantial amount of reserve money for landscaping.

It has been a sod farm for many years.

 

[hi n dry]

Owl?s Head(OH) development sounds like it will be very nice. It is being developed by professionals who know what they are doing.

However, if I were planning to retire now and move south I would not move to any area that is not walking distance to the beach and at least 30 ft. above sea level. Owl?s Head meets the second criteria but not the first.

We have lived on 30A for a while and we know that the further you get from the Gulf the hotter it is in the Summer and the colder it is in the Winter.
If you can't enjoy the Gulf breezes in the summer you might as well be in Atlanta.

Also to think you can drive to the beach in the summer without getting in traffic jams and be able to find a place to park near the beach is unrealistic.
South Walton county has lots of beach accesses but few have much parking and most don?t have any bathrooms. At Seaside parking is getting more limited. 30A is blessed with some nice state parks but their parking is also finite.

 

[SHELLY]

Also to think you can drive to the beach in the summer without getting in traffic jams and be able to find a place to park near the beach is unrealistic.

I bet you remember when that wasn't the case...I certainly do.

 

[beachmouse]

There are still beach areas that are wonderfully uncrowded even during the peak of summer. You've just got to know where to look, and maybe be willing to trade running fresh water for getting a sand dune of your very own.