Watercolor

[AAbsolute]

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.

Those lots you mentioned with that home you mentioned were originally released in late 2000 and 2001. It is just the first few by 30A that were released in '03. See ya

 

[fisher]

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.


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.

Now that's some real spin there. What about oversupply, the credit crunch, recession, etc etc.?

If the slump really is due to tropical storms and not other forces, I guess the area will never, ever recover, will it? Tropical storms will keep coming year in and year out. Dodson ain't too bright to state that tropical storms is why buyers aren't buying--that means they will never come back as Florida is always going to be plagued by the threat of and the landfall of tropical storms.

 

[fisher]

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.

If they were worth $1 million, lot 1 would have sold long ago when it first listed below $1 million.

 

[fisher]

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.

Although two have sold for over $3 million during the past year or so. If you can have a similar place for under $2 million were these buyers throwing away their money?

 

[AAbsolute]

Now that's some real spin there. What about oversupply, the credit crunch, recession, etc etc.?

If the slump really is due to tropical storms and not other forces, I guess the area will never, ever recover, will it? Tropical storms will keep coming year in and year out. Dodson ain't too bright.

Have you attended any of the annual HOA meetings for Watercolor or Watersound? Tom Dodson, Ken Borick, Mary Rosenheim or even last year's Vance Askew must be pretty bright. They are commanding speakers who have faced hundreds of homeowners and bravely pitched these spins for years. They must be bolder and brighter than average. I have never heard any of them hide behind oversupply, recession or credit crunch.

 

[Miss Kitty]

Although two have sold for over $3 million during the past year or so--someone throwing away their money.

Once again, the market makes no sense to me! ;-) I bet these people are very happy with their purchases and are hopefully end users!

 

[AAbsolute]

I kinda' agree..

If they were worth $1 million, lot 1 would have sold long ago when it first listed below $1 million.

In this market it is probably going to be hard to sell vacant land at or near its completed value. I think pretty sure that a home on one of those lots would be sold pretty quickly at 1.5 to 1.75, but in its raw, unimproved form as a lot this market just won't bring the price for the lot only side of the valuation.

 

[fisher]

Have you attended any of the annual HOA meetings for Watercolor or Watersound? Tom Dodson, Ken Borick, Mary Rosenheim or even last year's Vance Askew must be pretty bright. They are commanding speakers who have faced hundreds of homeowners and bravely pitched these spins for years. They must be bolder and brighter than average. I have never heard any of them hide behind oversupply, recession or credit crunch.

He certainly didn't mention any of those problems in the press release.

 

[fisher]

In this market it is probably going to be hard to sell vacant land at or near its completed value. I think pretty sure that a home on one of those lots would be sold pretty quickly at 1.5 to 1.75, but in its raw, unimproved form as a lot this market just won't bring the price for the lot only side of the valuation.

Got it. Thanks. I thought we were talking about the lot, not the lot with a future home on it.

 

[fisher]

Once again, the market makes no sense to me! ;-) I bet these people are very happy with their purchases and are hopefully end users!

Agreed.

Probably happy until they need to sell.