We're in the long process of real estate being transferred from weak speculative hands to strong hands 50% or more below peak prices. This process could take 5-10 years to complete. We now must brace for still thousands who bought from 2003-2007 who are hanging on by there fingernails and will be sellers at some pt keeping pressure on prices for years to come.Thats the facts and we all must accept this and pay for out decades of speculative buying.
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abandoned subdivisions
- Thread starter citeright
- Start date
SneakyPete
Beach Lover
I'm interested in the point that Beach Runner has raised. If owners have purchased in a subdivision with architectural guidelines, but that subdivision has since gone pppppfffftttt....do those guidelines still apply?
Walton County is one of the few entities that does not require the infrastructure to be complete before a plat is issued. Therefore, developers can sell lots before water, sewer and roads or amenities are put in place. The letter of credit is supposed to protect buyers and yes, this does mean that some property owners cannot build on lots they have purchased when the project has been abandoned wether there have been architectural guidelines (covenants and restrictions) established or not.
