Watersound West Beach

[blapaglia]

My husband and I have been coming on vacation to Santa Rosa Beach for about seven years and love the area. We are considering buying a lot in Watersound West Beach with the intent of building when we retire 5-7 years from now. However, it looks like 4 of the 6 or 7 houses in there are for sale and nothing else is being built. Could some of you provide us with your thoughts about this area? We have a few concerns. First, is the dune lake leaking into the ocean. I don't know if this always occurs or is sporadic. Secondly, why is no one building or wanting to live there? Would the bugs, especially mosquitoes, be substantial there due to the man-made lake in the middle? The HOA fees are currently low but we're concerned that they could rise significantly. Also, the beach there seems to be eroding. Any feedback from those of you in this area would be greatly appreciated. We're puzzled about why this area hasn't "taken off". Thank you.

 

[DuneLaker]

Can't speak to the HOA dues, but IMHO Watersound West Beach is a jewel of a beach area. The native habitat that surrounds that development and the natural beach plus being adjacent to Deer Lake State Park are exceptional assets. If I didn't already own and live on one of the best lots on Eastern Lake, which is the coastal dune lake next door, with probably one of the best sunsets in the world, I'd consider buying there. The coastal dune lakes, btw, open and close to the gulf. This is one of their unique and rare characteristics. If you've got the money, buy it - - if you really want my opinion.

 

[Dominoes]

I also like WSWB, just came on too late, and now the RE market stinks. I would not be in a hurry to buy. St. Joe is not selling too many lots anywhere right now and there is going to be continued downward pressure on lots and homes until 2010. You can probably save another 10-20% by waiting a year.

 

[Beach Runner]

Have you ever walked to the beach there? It takes a brisk 10-minute walk to get from the beginning of the beach walkover at the pool to the end of the walkover. We did it on a July day. The humidity from the lake just makes it unbearable. It's beautiful scenery, but I wouldn't want to have to haul my beach stuff that far. I'd rather go park at a public beach access. Even where they have the bike racks is many yards from the beach.

If you could use a golf cart, it wouldn't be bad. But the walkover isn't wide enough for two passing golf carts.

 

[DuneLaker]

I've walked to the beach from there a number of times, and it was fantastic!! I don't haul a bunch of stuff with me, never have. I am constantly amazed at all the junk people haul (and leave) to the beach these days. You end up on a great beach, next to the outfall of Deer Lake, somewhat isolated. On the walk, you might see all kinds of beautiful native plants and wildlife. An authentic beach experience awaits. If you want concrete, lots of crowds, a less natural beach experience, hate walking for any distance, worry about how your hair looks on the beach etc., it may not be for you.

 

[fisher]

If you are not desperate to buy (sounds like you have 5 to 7 years to make a decision), you should probably wait to see how things pan out in Watersound West Beach. There are about 200 lots in WSWB and only 35 have sold since inception in 2005--and only one sale has occurred in 2009 according to county records.

Who knows what will happen to the development and to HOA dues with so few lots sold? It will be up to JOE to keep the place in shape with so few lots owned by individuals.

JOE has a huge amount of inventory on its books that it will need to liquidate at some point in time and that's when you will likely see prices fall even further (sales prices have already fallen from the $700's in 2005 to the mid $100's in 2008/2009).

JOE has already dropped lot prices many times in an attempt to find a bottom, but they haven't found it yet for the thousand plus empty lots they own in Watercolor, Watersound and Watersound West Beach.

It appears that JOE did find a current bottom on home prices in Watercolor Phase IV where they sold numerous spec homes that had been on the market for a long, long time in the mid $400's. They finally sold these homes when they dropped prices by 40% or so. Same thing is likely to happen with lots when JOE decides it needs to record some revenue on its books.

Also, if you can't wait to make a purchase, you might want to check out Watersound Beach lots. There are several that are listed for prices comparable to some of the listing prices in WSWB. Watersound Beach is much farther along in the development process than WSWB.

Good luck.

 

[TooFarTampa]

Is Watersound West Beach just south of Prominence? If so, how might whatever happens with Prominence affect that area? I'm wondering if Prominence is headed back to the bank soon -- haven't seen anything done in there in quite some time.

 

[gardening1970]

Like DuneLaker, I LOVE this area of the beach. It is never crowded and shares a boundary with Deer Lake (which may be WSBW's best selling point in my opinion). The pool/clubhouse area is very nice. However, I did wonder when I was there in April just how bad the mosquitos would be on the boardwalk at dusk (sunsets are a MUST do). And a moonlit stroll on the beach might be less tempting if I had to walk that wooded access in the dark.

Having said that, if I had the money to build there, I could also probably afford a good flashlight and insect repellant when needed. It's a beautiful place.

Good luck to you, wherever you land!

 

[30ashopper]

You certainly shouldn't feel rushed into buying. Lots to choose from. (No pun intended!)

Walton County Parcel Maps

 

[Ohio Girl]

For what it's worth, I think WSWB will be a beautiful community some day. Really great area and the beach is wonderful. It is a hike to the beach, but very interesting and picturesque ... not that bad really. Unfortunately it will take years before this development takes hold. I would wait to buy.