We are from Atlanta ... and we will be visiting South Walton this summer for two weeks. We have had a long term dream to own a house near the beach as our 2nd home. But because of land/home prices, we have resigned ourselfs to the fact we cannot own beachfront.
Tis summer we want to look at land in a few communities. Primarily, we are interested in WaterSound "north" and WindMark Beach. We are attracted the the wide array of amenities at these properties. But, we have some concerns:
- seems nothing is selling at Watersound
- Watersound's access to the beach
- Windmark's beaches and ocean not as pretty as 30a
Does anyone have any recent info and/or opinions on these developments ... are they selling ... are they priced fairly ... is one a better investment that the other?
I think you have better choices than Watersound North in your price range. First of all, prices in Watercolor and Watersound Beach have been coming into your $250k price range over the last few months. A lot in WSB recently closed for $313k and a couple of lots in WC have closed at just under $250k with a couple of current listings at just over $250k (I would be willing to bet you could make an offer for under $250k and the owners would jump at the chance to sell). With the current downward trend in the prices of raw lots, you will likely see more lots in WC and WSB move below $250k. There are also two lots for sale in Rosemary for under $400k--above your range but who knows what a seller would ultimately take.
Although beach access in the Preserve and Cypress Dunes is not as good as in WC or WSB, you can get lots in these developments for well under $250k and be right on 30A. Another option would be Seacrest.
Finally, a cottage in Watercolor sold for around $650k last year and another sold recently for $775k. There are boatloads of houses for sale in Watercolor--several for under $1 million. I would expect to see prices fall further in mid to late summer if the market doesn't pick up considerably in the near future. There are lots of owners needing to exit the market and they will start getting "desperate" if another selling season goes by and their homes are still on the market.
Bottom line, look in these beach communities first and make some offers before "settling" for Watersound North. Also, do lots of homework on pricing before making offers. Prices have been falling for the last year and a half or so. Don't look at comps from 3, 6 or 9 months ago. They are outdated. Look at comps only from the last month or two when analyzing the market.
Good luck.
2nd home. A previous poster mentioned The Preserve at Grayton Beach which would definitely be worth taking a look at, as it more than meets your criteria. I am partial, as I still own one Preserve lot that is currently listed below $230k. There are pros and cons to any development. I would be happy to share my views of The Preserve with you....if you want more info, please feel free to send me a private message....Good Luck!
