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Cypress Dunes & Breeze questions.....

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57 seconds of my life gone... Just like that. Thanks SWGB!:wave:

I can't tell you how much money I've made on my franchise to put out-of balance washing machines in front of Walmart for middle aged women to ride.
 
Cypress Dunes is in a Cobra Zone and therefore cannot obtain National Flood Insurance. Even though they are in an X Flood Zone, many lenders will not underwrite a mortgage without flood insurance these days. Private flood insurance is very expensive.
 
Cypress Dunes is in a Cobra Zone and therefore cannot obtain National Flood Insurance. Even though they are in an X Flood Zone, many lenders will not underwrite a mortgage without flood insurance these days. Private flood insurance is very expensive.

I never heard that. It sounds rough. Are you sure about that?
 
Very sure.

Coastal Barrier Resources Act

Coastal Barrier Resources Act (CBRA), Public Law 97-348 (96 Stat. 1653; 16 U.S.C. 3501 et seq.), enacted October 18, 1982, designated various undeveloped coastal barrier islands, depicted by specific maps, for inclusion in the Coastal Barrier Resources System (System). Areas so designated were made ineligible for direct or indirect Federal financial assistance that might support development, including flood insurance, except for emergency life-saving activities. Exceptions for certain activities, such as fish and wildlife research, are provided, and National Wildlife Refuges and other, otherwise protected areas are excluded from the System.
 
Very sure.

Coastal Barrier Resources Act

Coastal Barrier Resources Act (CBRA), Public Law 97-348 (96 Stat. 1653; 16 U.S.C. 3501 et seq.), enacted October 18, 1982, designated various undeveloped coastal barrier islands, depicted by specific maps, for inclusion in the Coastal Barrier Resources System (System). Areas so designated were made ineligible for direct or indirect Federal financial assistance that might support development, including flood insurance, except for emergency life-saving activities. Exceptions for certain activities, such as fish and wildlife research, are provided, and National Wildlife Refuges and other, otherwise protected areas are excluded from the System.

Good Post. Can you help me connect the dots over to Cypress Dunes?

Does this apply to Cypress Breeze?
 
Go to the FEMA Map Center website; you can type in an address and view the panel. There are several other areas in S. Walton that have this designation; mostly affecting areas in the western most portion of S.Walton, Destin and Okaloosa County. Therefore the costly insurance in those areas.
 
I have two lots in Cypress Breeze and am quoting plans now to build the 3br/3ba house. The time to build is now - construction costs and the fact I bought the lots in 2003 - allow for me to hit the $299K price point. Additionally, since this is a cash and carry project, financing is not an issue. I have quotes from 3 builders now, but I would consider another 1 or 2. Owner financing (lot and/or house) is possible.
 
I have two lots in Cypress Breeze and am quoting plans now to build the 3br/3ba house. The time to build is now - construction costs and the fact I bought the lots in 2003 - allow for me to hit the $299K price point. Additionally, since this is a cash and carry project, financing is not an issue. I have quotes from 3 builders now, but I would consider another 1 or 2. Owner financing (lot and/or house) is possible.

That sounds like a sustainable purchase for your future buyers. I see you just joined Sowal.com , welcome. Will you post some photo's as you build? Friendly competition is good for the end user.
 
Notice the drop

Cypress Dunes' value is dropping fast, on par with the gas mileage in my Pathfinder. It has its share of mid - longer term renters paying 1300-1600/month, while living in a houses that sold anywhere from 600,000 to a 1,000,000. Talk about positive cash flow. I believe C. dunes and its plight with its geological classification is rapidly becoming r.e. local knowledge. This in part may have played a role in the sudden depreciation, (besides worldwide financial collapse). Oh, but I guess 50%, no make that 75% of the realtors out there don't know or will not tell. Kinda scary huh? I heard the annual premium out there on private flood insurance could put you in a nice new KIA. It's a shame ain't it-that cypress pond is nice.
 
I looked hard in cypress dunes 3 months ago and just wasn't that impressed with the development. The far west end of 30-a just looks panama city like to me. You can hardly find cypress dunes as the signs so small. The houses look ok but the mls pictures are very decieving as the lots and houses are much smaller than the pictures. I wouldn't be suprised to see several homes in there sell for the high 200's and lots for $75 k. Is cypress dunes located in a flood plain?
 
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