Real Estate is so hot in SoWal

[Smiling JOe]

Interesting post and article Joe. Where did you find this article? Perhaps you could give us the source, to verify.

You think I should turn these guys on to some wetlands down here? I know several ppl willing to sell some. Thanks again for the info. Unfortunately, the people most likely to be taken advantage of these scams, probably don't read this board. Oh Well. I'll tell all the little 'ole ladies and men to not fall for the scam.

 

[Kurt]

Swampland in SoWal was $30k/acre last I heard but that's probably low now.

 

[Smiling JOe]

Swampland in SoWal was $30k/acre last I heard but that's probably low now.

Yes, that is low price for wetlands. I know someone who just last week, turned down an offer of $240,000 for 1 acre of wetlands in South Walton. Of course it is located South of Hwy 98, but it is still located some 800 ft off of the road. There is an easement to the property, but no existing road. You would have to mitigate land to put in the road in addition to mitigating more land to put in a house.

 

[Kurt]

Swampland in SoWal was $30k/acre last I heard but that's probably low now.

Yes, that is low price for wetlands. I know someone who just last week, turned down an offer of $240,000 for 1 acre of wetlands in South Walton. Of course it is located South of Hwy 98, but it is still located some 800 ft off of the road. There is an easement to the property, but no existing road. You would have to mitigate land to put in the road in addition to mitigating more land to put in a house.

I can see how numbers might work out for that. I guess I was thinking more of the price for mitigation land.

 

[Joe Complete]

I got the article by searching http://www.Google.com. Just go to Google and enter:

Robert Friedman and Jeffrey Frieden

You will get many articles.

According to one article, they once sold stereos and back rubs prior to getting into the real estate business...

http://www.gtconnect.com/articles/2005/01/02/news/the_west/west03.txt

 

[Sunnybeach]

Thanks to all in this thread for throwing out the yellow flag for me and any number of others. Those NRLL folks from Irvine are trolling in the West Palm Beach area. We just got a postcard referencing our high-and-dry, accessible agricultural property in an antiquated subdivision, located in a generally hot area. Recent neighboring sales showed values above the $50K/acre range (10 acre minimum lot size zoning), up from $30K two years ago. Your SoWal thread appeared in my google search (as did the article quoted in the thread). I recall a cautionary article along those lines in the Palm Beach Post about a year ago. Again, thanks for your skepticism.

 

[Franny]

Sunny! Isn't this board the greatest!! :clap_1:

 

[Beach Runner]

It must be hot - I heard what a neighbor is asking for their house and said, "Woo-hoo!" Even if they get 75%, it'll make the value of our property go up.

We don't want to sell, but we are interested in selling half interest for various reasons.

 

[SoWalSally]

Thanks to all in this thread for throwing out the yellow flag for me and any number of others. Those NRLL folks from Irvine are trolling in the West Palm Beach area. We just got a postcard referencing our high-and-dry, accessible agricultural property in an antiquated subdivision, located in a generally hot area. Recent neighboring sales showed values above the $50K/acre range (10 acre minimum lot size zoning), up from $30K two years ago. Your SoWal thread appeared in my google search (as did the article quoted in the thread). I recall a cautionary article along those lines in the Palm Beach Post about a year ago. Again, thanks for your skepticism.

:clap_1: :clap_1: :clap_1:

 

[SHELLY]

I got the article by searching http://www.Google.com. Just go to Google and enter:

Robert Friedman and Jeffrey Frieden

You will get many articles.

According to one article, they once sold stereos and back rubs prior to getting into the real estate business...

http://www.gtconnect.com/articles/2005/01/02/news/the_west/west03.txt

Ya know,...following stories about this unwinding real estate boom just keeps gettin' better and better.

Haven't got my letter yet, is the return envelope postage paid--I've got something I'd like to send them back. ;-)