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Double or nothing SJ?
- Thread starter Matt J
- Start date
Smiling JOe
SoWal Expert
remind me.
Joe would get absolutely hammered in the market if they bought more raw land. They can't sell what they have now.
Take the bet and make it big SJ.
Smiling JOe
SoWal Expert
No, I'll stick with the original bet. If they could find the cash right now, and Colonial wanted to dump Prominence, I could actually see that as being a good deal, since it is pocketed by WaterSound. NatureWalk just doesn't make since for JOE to buy, unless they got if for nothing. NatureWalk could be cool one day (minus the Seagrove Villas property), but the price point for homes in there should be more in the 300K-325K price range for them to sell. I forgot the total number of lots in there, but I recall them paying a crapload for the property, plus the expense of infrastructure, plus the ridiculous idea of adding $16million for the Seagrove Villas. I don't know that the math works to get houses in that price, and think that the bank will try to sit on it if the Feds don't require them to sell.
SHELLY
SoWal Insider
Smiling JOe
SoWal Expert
So did I win, or is time up yet? What was the wager? a beer of choice? I really need to write these things down on paper somewhere.
Matt J
SWGB
Wow, I'd be worried if I didn't have the knowledge that Joe will be finishing out Prominence as is.
Thanks for playing.
Not sure, no idea how to search the calendar. It's on there.
Smiling JOe
SoWal Expert
I probably would have at least given you, or JOE, until the start of 2010, so you probably haven't lost yet. You only double or nothing after you lose.
When you say that JOE will be finishing out P as is, what does that mean? Will JOE get back into construction? Will JOE buy P and complete the development as planned? Seems like they would be more successful making it a part of WS.
When you say that JOE will be finishing out P as is, what does that mean? Will JOE get back into construction? Will JOE buy P and complete the development as planned? Seems like they would be more successful making it a part of WS.
Matt J
SWGB
My understanding is that they will finish out Prominence as originally designed, thus avoiding the lengthy and costly process of changing the approved plan. Check out the original docs at the library, they show access roads to WaterSound even back then.
IMO it's a great move on Joe's part, WaterSound beaches will now have a town center.