I really like this lot but am willing to look at other lots for comparison. If you have another lot that meets my specifications as listed below please let me know. I am working with an agent-please give me the MLS info and I will look it over. Business has forced me to postpone my plans until later this month.
The following are the specifications of what I am looking for: high elevation ( after what I saw what storm surge will do in Mississippi and N.O. I wouldn't consider anything in such low areas as Panama City Beach, most areas of Destin, Fort Walton Beach, Navarre Beach, Pensacola Beach etc-even some areas on 30a would be too low- but I believe 30A is the best area on the coast), some Gulf view, priced well below $600k, and walking distance to Seaside, Cafe 30A (my favorite), and the beach.
I figure that it is possible to build a house that is virtually hurricane proof if done right ( trying to make it flood / storm surge proof is not realistic) and that is why I am not looking at existing houses. I also want to be able to pick my own builder and plans.
I want a lot in a neighborhood with some protective covenants but I do not want a community whose extremely detailed restrictions will hinder my creativity and unnecessarily run up my building costs. I have heard this about such planned communities as Watercolor and Rosemary Beach-please let me know if I am wrong.
However, I commend communities such as Alys beach, unfortunately out of my price range, which have building specifications that require concrete structures that are virtually hurricane proof. This has resulted in them getting special insurance discounts.
I am not interested in the "dime a dozen" neighborhoods with the postage stamp size lots and "cookie cutter" houses. I want to be able to walk to the beach, and not have to take a golf cart or shuttle.
Please excuse my frankness, but I am aware that it is a "buyer's market" and will be looking for the special lot at a discount price. I have patiently been waiting for such a great time to buy with so many choices. There are many lots on the market so I can afford to be very picky and patient. I feel now is the best time to buy before mortgage rates go up.
I do not want to be pressured by a build out time due to concerns about a short term spike in material costs due to Katrina. I won't be retiring for a while so I can wait to build and just rent for a while if need be.
Thank you for all your friendly greetings and help.
Comparing the Groves lot with the other one is meant to show that the Greenwood lot is a good deal at it's price. 
That is if you think the Grove lot is accurately priced and is a good comp. That is thing about real estate. One persons may think the Grove lot is well priced and another may not. Stick to your criteria, shop around, don't settle, and once you make the decision don't look back and enjoy.