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fisher

Beach Fanatic
Sep 19, 2005
822
76
Wow is right. I walked in that area on Saturday with some guests and no one even remarked on it. I only noticed that it was too close to the walking paths! It's going to be a tough number.

Tough number? I would say totally impossible.

I say it eventually sells for no more than $4 million.
 

Chickpea

Beach Fanatic
Dec 15, 2005
1,151
366
30-A Corridor
May not sell for $12 but $4?????

Remember that house in the Retreat (beautifllu designed by Bobby McAlpine) - all it takes is someone falling in love....

And didn't someone in essence buy an $7.9 million Gulf front house last year in Rosemary and has proceeded to demo it and start anew??
 

Beachbummette

SoWal Insider
Jul 16, 2005
5,748
207
Birmingham and Watersound
Don't one of y'all want to buy this and be my neighbor? Or...my next door neighbor has his for sale for 6 million:wave:

The house is big, it is three stories & a tower room. It actually has two carriage house/garages. If you look at the left end of Kurt's pics those last two roofs are seperate carriage houses. They are putting a game room over one of the garages. It is going to be an incredible house when finished. They had to get permission to take longer to build it.
 

Matt J

SWGB
May 9, 2007
24,646
9,496
Don't one of y'all want to buy this and be my neighbor? Or...my next door neighbor has his for sale for 6 million:wave:

The house is big, it is three stories & a tower room. It actually has two carriage house/garages. If you look at the left end of Kurt's pics those last two roofs are seperate carriage houses. They are putting a game room over one of the garages. It is going to be an incredible house when finished. They had to get permission to take longer to build it.

Is this where the trespassing issue came up? ;-):wave:
 

fisher

Beach Fanatic
Sep 19, 2005
822
76
May not sell for $12 but $4?????

Remember that house in the Retreat (beautifllu designed by Bobby McAlpine) - all it takes is someone falling in love....

And didn't someone in essence buy an $7.9 million Gulf front house last year in Rosemary and has proceeded to demo it and start anew??

Let's see--you can easily buy a piece of gulf front land in Watersound for under $2 million right now and build an absolute masterpiece for $300 to $350 per square foot. So, you could buy a lot and build your own 6000 square foot palace for $4 million plus/minus or buy the "beauty" under construction for $12 million??? Like I said, my guess is no more than $4 million and it will take a long time to sell at that price.

Given current land prices and falling construction costs, it would be much more cost effective right now to buy a lot and build in Watersound than to pay anywhere near the list price for most of the listings in Watersound.

Maybe, the Watersound seller will get lucky and find someone that doesn't care much about investment value that will give them a "lowball" offer of $5 or $6 million (thinking to themselves, "wow, what a great deal, I just got 50% off the asking price"). I don't think so, but you never know where you might find a a true real estate visionary to make such a purchase.
 
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Matt J

SWGB
May 9, 2007
24,646
9,496
Let's see--you can easily buy a piece of gulf front land in Watersound for under $2 million right now and build an absolute masterpiece for $300 to $350 per square foot. So, you could buy a lot and build your own 6000 square foot palace for $4 million plus/minus or buy the "beauty" under construction for $12 million??? Like I said, my guess is no more than $4 million and it will take a long time to sell at that price.

Given current land prices and falling construction costs, it would be much more cost effective right now to buy a lot and build in Watersound than to pay anywhere near the list price for most of the listings in Watersound.

Maybe, the Watersound seller will get lucky and find someone that doesn't care much about investment value that will give them a "lowball" offer of $5 or $6 million (thinking to themselves, "wow, what a great deal, I just got 50% off the asking price"). I don't think so, but you never know where you might find a a true real estate visionary to make such a purchase.

Maybe it's for someone with more money than taste.

/sarcasm off
 

iqueequeg

Beach Lover
Feb 2, 2005
102
3
Snowy Boston
You can't build a "masterpiece" by the current definition for $350/sq ft. If you're talking high end finishes, custom millwork, etc, at least $400/sq ft and probably more.
 
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