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I know of no builder (except maybe you) that will build a WC quality house with all the fixin's for $120 per square foot. But, if you could find one to do it, and you don't mind being 1 mile from the beach, it's not a bad price.


355,000 for a 2,400 sq. ft. home is $148 per square foot. I'm sure there are builders in Watercolor who build for that at this time. Didn't Geoff Chick and Chris Clark just put together a successful project in Watercolor for that price point?

Anyway, I am pretty sure that that lot with the proper home would cash flow off rental or provide a great long term residence. Again, it's not my property and I'm not a realtor. That's probably real close to a bottom if it's not a bottom for Thicket Circle near Camp Watercolor.
 

SHELLY

SoWal Insider
Jun 13, 2005
5,775
802
St. Joe Co. Offers Homesite-Buyer Incentives

Buyers can take advantage of perks while their houses are being built
September 8, 2008 - 5:43PM
Kimberly White
Northwest Florida Daily News

SANTA ROSA BEACH - As real estate sales continue to sag, The St. Joe Co., one of Florida's largest developers, is pulling out all the stops to up their property sales.

Like many companies, St. Joe is loading up on the perks and has announced three incentive programs for prospective home buyers along the Gulf Coast.

The WaterSound Living and SummerSweet Living programs in WaterSound and WaterColor, respectively, allow home buyers - for a nominal fee - to purchase extended stays at luxury residences in their chosen communities while their homes are being built. A similar program also has been launched at Windmark Beach in Port St. Joe in Gulf County.

Tom Dodson, vice president of sales for West Florida, said St. Joe got out of the homebuilding business during a restructuring two years ago and is now focused primarily on real estate development and sales. Although the company did relinquish some of its inventory last year, many of the developed lots are ready for home buyers to build on, he said.

The idea behind the new incentive programs is to generate more sales.

While a home site is a great asset to own, Dodson said, buyers do not get anything out of the associated fees they still must pay even though their homes are not built.

"We tried to position it where, yes, you'll own the lot, you'll pay these (fees), but you'll have a place to stay while you're here," he said. "Say you bought a $100,000 lot in SummerSweet. Well, for the next two years until you build your house, you have the use of a cottage right there for a very minimal fee."

Buyers can stay in the furnished cottages for up to a week and have access to amenities such as a beach club, boat house, tennis center, golf club and fitness center. Likewise, those who participate in the WaterSound Living program will pay a minimal fee for up to a week-long stay in a one-bedroom condominium at the WaterSound Beach GateHouse.

In addition, a recently launched Discovery Stay geared toward top real estate prospects allows them to stay at the WaterSound Beach GateHouse, or at the village center at Windmark Beach in Port St. Joe, to experience life there.

"There's no better way to promote the communities and the projects you have within the communities than for someone to stay and experience what it is," said Dodson, who added that the best way to sell a property is to have a face-to-face meeting with prospective buyers.

All three incentive programs will run through December 2010. St. Joe expects the real estate industry to rebound by that time.

Company officials expect the international airport being built in Bay County to open up the Emerald Coast to a larger national and international audience - and potential customers.

The Gulf Coast has been in a real estate slump since the last quarter of 2005, largely because of the numerous tropical storms and hurricanes that have hit the region, Dodson said.
 
That press release was loaded with good news:

The real estate slump should rebound in 27 months.

The new airport will bring International buyers to Watercolor.

The real estate slump began in 2005 and was due largely to hurricanes.

JOE has the financial wherewithal, and is willing, to drop its lot prices 60% below the price it sold its previous customers.
 

Miss Kitty

Meow
Jun 10, 2005
47,015
1,123
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Are you talking about the lots on Park Row? {South of 30A in Watercolor} I don't think there are many empty lots over there. I know of 1, 2, 3 and maybe #4. I was watching #1 and I can't believe I missed the public auction by 1 day. That was a deal for Arnold Family Investments. :clap:

Yes, those lots. I am talking about the lots closest to 30-A. Being a "rule follower";-), I could never understand how they stayed empty for so long, as they were released very early on in the frenzy. If Lot #1 is the one closet to 30A, that would be the least desirable lot.
 
Yes, those lots. I am talking about the lots closest to 30-A. Being a "rule follower";-), I could never understand how they stayed empty for so long, as they were released very early on in the frenzy. If Lot #1 is the one closet to 30A, that would be the least desirable lot.

I was in a preliminary agreement to buy Lot 3 which is the 3rd from 30A in a trade/sale for one of my Watersound homes. That Seller showed his build out as 2010. For some reason the Property Appraiser online site shows those 3 parcels as 1. I'm sure it is in need of computer updating.

I find any of those 3 lots more desireable than any lot North of 30A in Watercolor. IMO those lots are worth 1,000,000 each.
 

Miss Kitty

Meow
Jun 10, 2005
47,015
1,123
67
I was in a preliminary agreement to buy Lot 3 which is the 3rd from 30A in a trade/sale for one of my Watersound homes. That Seller showed his build out as 2010. For some reason the Property Appraiser online site shows those 3 parcels as 1. I'm sure it is in need of computer updating.

I find any of those 3 lots more desireable than any lot North of 30A in Watercolor. IMO those lots are worth 1,000,000 each.

2010? Wow...was he an original buyer? Weren't those lots offered in one of the initial lotteries? IMO, a million dollars is too high, but that is just my common sense answer. ;-)
 

tsutcli

Beach Fanatic
Jan 14, 2008
921
109
Seacrest
Mere Ridge house sales '08
Lot 7 - $797,000, $397/sq ft, 3/3.5 Thicket Circle
Lot 9 - $999,000, $400/sq ft, 4/3.5 Thicket Circle
Lot 16 - $1.3M, $336/sq ft, 5/4.5 Pond Cypress Way
Lot 22 - $1.14M, $461/sq ft, 4/4.5 "
Lot 23 - $900, $398/sq ft, 4/4.5 "
 
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2010? Wow...was he an original buyer? Weren't those lots offered in one of the initial lotteries? IMO, a million dollars is too high, but that is just my common sense answer. ;-)

Those lots had an original release date of 2003. There have been extensions to build out granted as well. At original release in '03 the lots were about + or - $700,000. The County assessment has tham at + or - 1,000,000 curretly. A peron could put a great home on those lots for 475,000.

Don't you think they might be worth 1.5 to 1.750 for 4 beds, 5 baths, bunkroom? I believe they could be a rental machine. There is a lake in the backyard and the gulf is within 600'.
 

Miss Kitty

Meow
Jun 10, 2005
47,015
1,123
67
Those lots had an original release date of 2003. There have been extensions to build out granted as well. At original release in '03 the lots were about + or - $700,000. The County assessment has tham at + or - 1,000,000 curretly. A peron could put a great home on those lots for 475,000.

Don't you think they might be worth 1.5 to 1.750 for 4 beds, 5 baths, bunkroom? I believe they could be a rental machine. There is a lake in the backyard and the gulf is within 600'.

Wow...I could have sworn that the first house built (used to have pinkish shutters, now they are brown) was up when our building was finished in 2002. Guess I have better things to look at when I am down there. ;-)

And, yes...THOSE prices sound much better than the 4 or 3 million dollar prices I have seen before. Thanks for the info...the lot price makes more sense to me now.
 
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