Watercolor Lot Release

Discussion in 'Real Estate' started by Tenn.Guy, Sep 7, 2005.

  1. Tenn.Guy

    Tenn.Guy Beach Comber

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    Has anyone heard how the most recent release of lots went in Watercolor? I saw a post on the Watercolor website last week about a lot release and now the message is gone from the website. Did they call the release off or was it a success?
     
  2. iqueequeg

    iqueequeg Beach Lover

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    There was also an initial release of a few lots from Watersound "West Beach" a few weeks back. I wondered how that went. Nothing on the St. Joe website.
     
  3. Miss Kitty

    Miss Kitty Meow

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    We own in WaterColor and when we received the price list for the LOTS on 30-A beside the sales office listed for $1.5 million, we laughed and threw it in the trash!!!! But, I guess someone might buy them?!
     
  4. Bob

    Bob SoWal Insider

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    Release the Hounds!!!!!
     
  5. Tenn.Guy

    Tenn.Guy Beach Comber

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    I also remembered that I got an email from one of the Arvida sales reps saying the release was set for August 24. Never heard another word. Much different than previous releases by Arvida.
     
  6. Tenn.Guy

    Tenn.Guy Beach Comber

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    I was just looking through the Wall Street Journal and saw the first advertisement for Watercolor in several years. For the last two years, people have been waiting in line to buy houses and lots. So, there has been no need to advertise. The fact that they are advertising in the Wall Street indicates to me that things have come to a grinding halt. I bet that they did not sell all the lots in the last release--can anyone confirm?
     
  7. wetwilly

    wetwilly Beach Fanatic

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    I will call them and find out.
     
  8. pat3797

    pat3797 Beach Comber

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    If you look at St Joe's stock movement, it seems the market may already know how it went.

    Just an observation.
     
  9. wetwilly

    wetwilly Beach Fanatic

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    I am in the WaterColor database as some of you are so I called and spoke to one of the folks in sales. According to the guy I spoke to (forgot his name), the "Final Release of Phase I Lots" is just 4 lots to the west of the sales office close to or on the north side of 30-A. He said that these were released in parallel to a larger number of lots in Phase III and Phase IV.

    He was very nice and not playing the salesman speel at all. When I asked him how things were going he was honest and said that it was "very slow" in the last few weeks....due to the Katrina disaster....but I (he) thinks there are deals to be had in WC and WS and that if you buy now....in 3-5 years you will be very happy that you did...". He also said that there were some resales in WC that were considerably below the Joe listed lots and that those were people "knee jerking" and just trying to dump the lots now.

    When I asked him about the pricing on the Phase I lots, he said he would send me the price listings via email in a few minutes (that was 3 hrs ago) and I have not seen anything, yet. Hotmail is slow even when people send stuff immediately (what do you want from free mail). When I asked about WaterSound, he said things were moving along at a brisk pace on the amenities (pool, gulf side clubhouse etc) and that final approvals on building on "several" houses are being completed and we should see a couple dozen rooftops go up in the next 6 months.

    Joe's website shows a price point for lots in Phase IV at $600k. With the Phase IV quite a ways north of 30-A and the Phase I lots "on" 30-A, the Phase I lots are certainly going to be quite a bit north of $600k. Not sure if that is a starting price and the sand and other aspects of the lot are extra :D but here is the info from their website:

    Dear Friends of the WaterColor Community,

    The final release of JOE home sites in 2005 is planned for Wednesday, August 24. For you, our valued customers, we would like to share these opportunities with you now:

    Last opportunity for Phase I home sites located on Scenic Highway 30A in Town Center. Phase I of WaterColor includes the WaterColor Market, shops and BeachClub.

    Last opportunity of lakefront and lake view home sites in Phase III of WaterColor. Phase III is located north of the Western Lake bridge, across from the BaitHouse Restaurant, pool and BoatHouse.

    Phase IV WaterColor home sites starting below $600,000. Phase IV includes WaterColor Crossings retail center.

    Should you be interested in receiving additional information on this release, please respond by email to info.watercolor@joe.com , or contact your WaterColor Sales Associate toll free at 877.459.4537 or 850.231.6500. We look forward to further discussing this much anticipated final 2005 release.

    With Best Regards,

    Tom Dodson
    Vice President Sales, West Florida
     
  10. Tenn.Guy

    Tenn.Guy Beach Comber

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    Thanks for the info. As I suspected, things did not go well with the most recent releases and everyone is focused on a comeback in the near future. The few resale lots for sale near 30A in Phase I are definitely higher than Phase IV. They range in price from about $1.9 million to $2.6 million and most have been on the market for quite some time.
     
  11. Joe

    Joe Beach Lover

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  12. skier

    skier Beach Lover

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    Four of the six nice lots (non-Phase IV) that were offered in the August developer release in Watercolor are still for sale. Not sure how many of the Phase IV lots sold in the developer release. The two on 30A with potential gulf views are still for sale.
     
  13. wetwilly

    wetwilly Beach Fanatic

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    The 4 you are referring to are the ones that the sales guy described as "final Phase I release". He never sent me the pricing via email as he said he would. :shock:
     
  14. Miss Kitty

    Miss Kitty Meow

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    Are those the lots I was referring to earlier in the thread? Four lots on 30-A just west of the sales office....prices starting at $1.5 miiiiilllllliiiion dollars.
     
  15. wetwilly

    wetwilly Beach Fanatic

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    Yes those are the ones. I heard that there was a deposit of gold or crude under them or something :D ;-)
     
  16. skier

    skier Beach Lover

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    There were two lots on 30A in the release and they are still for sale. Originally, I believe both were $1.5 million plus. But, good news, the price on one has dropped to $1.35 million. Yee ha!
     
  17. Miss Kitty

    Miss Kitty Meow

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    Come on dowwwwwn....to reality!
     
  18. skier

    skier Beach Lover

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    Lighten up Doug. I was being facetious based on others comments about prices. I personally wish prices would skyrocket or at least that the market would firm up a bit.
     

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