Forest Lakes vs. The Preserve

[Bobby J]

Our in-laws are wanting to get back in the panhandle real estate roller coaster ride and are looking at both The Preserve and at Forest Lakes. They got in almost 13 years ago and three houses later, they got out in the right time in 2006 literally weeks before the downward turn started to be evident.

Any opinions, pros, cons about either development? Beach access, location, rental potential, longevity of neighborhood, builders/developers in the neighborhoods, topography problems, etc...

I have my own opinions and they're about to pull the trigger in one of these neighborhoods, but was wanting to get some outside opinions as well...

Thanks in advance.

I like the Preserve because parking is better. Drive around both hoods and picture about 3 cars at your home. Lots of problems with the way Forest is laid out IMO.

 

[Franny]

Doesn't this make Watersound West Beach look pretty good at about the same price, but South of 30A with amenities and a private beach access? I hate to sound like a broken record, but JOE seems to be trying to take every competing developers head off.

Depending on what the buyer is looking for...Watersound West is a very nice development and will most likely be a second home community, where as I believe Forest Lakes is becoming more of a permanent home for peeps. I have numerous buyers locally and those relocating to the area that request communities made up of permanent neighbors vs second home communities.

 

[AAbsolute]

Depending on what the buyer is looking for...Watersound West is a very nice development and will most likely be a second home community, where as I believe Forest Lakes is becoming more of a permanent home for peeps. I have numerous buyers locally and those relocating to the area that request communities made up of permanent neighbors vs second home communities.

Good point. Some people I know think Watersound West Beach is going to be primarily permanent residences, but I thought it might turn out very much like Watercolor's primary vs. vacation ratio. I believe there are only 2 full time out of the 7 complete so far in West Beach.

 

[Matt J]

The other issue to consider is the HOA dues. I'm fairly confident in stating that Forest Lakes will never come close to Watersound.

 

[AAbsolute]

The other issue to consider is the HOA dues. I'm fairly confident in stating that Forest Lakes will never come close to Watersound.

I think we paid about $700 per quarter at Watersound West Beach. It did come with a pretty nice pool and clubhouse (till it burned) The Watersound Fitness center was in the amenities package too which is a pretty upscale community fitness center. I need to learn more about the Preserve and Forrest Lakes amenities package.

I can't get past a conversation I had with Larry Pinnock from LUK the week before they offered and sold out Draper Lake. He told me straight up when talking about Draper that the area was just one terrorist attack or hint of the bubble bursting from a total collapse. I thought he was crazy when he said it, but LUK must have had a very expensive and thorough think tank somewhere, because it seems they were ahead of their time when they knew that.

Every time I pass there I can't help but have that run through my mind like it was yesterday. At Rosemary they nurtured the value in a very different way than they sold out Draper immediately.

 

[Matt J]

I think we paid about $700 per quarter at Watersound West Beach. It did come with a pretty nice pool and clubhouse (till it burned) The Watersound Fitness center was in the amenities package too which is a pretty upscale community fitness center. I need to learn more about the Preserve and Forrest Lakes amenities package.

I can't get past a conversation I had with Larry Pinnock from LUK the week before they offered and sold out Draper Lake. He told me straight up when talking about Draper that the area was just one terrorist attack or hint of the bubble bursting from a total collapse. I thought he was crazy when he said it, but LUK must have had a very expensive and thorough think tank somewhere, because it seems they were ahead of their time when they knew that.

Every time I pass there I can't help but have that run through my mind like it was yesterday. At Rosemary they nurtured the value in a very different way than they sold out Draper immediately.

I would wager that Forest and Preserve aren't nearly that. When did the clubhouse burn?

I've had the terrorist conversation before as well, but it tends to be any small town tourist area. Anyone could drive a van into Seaside on a major holiday weekend and the fallout would be horrible. However, we haven't had that and it tends toward panic more than anything.

 

[AAbsolute]

I would wager that Forest and Preserve aren't nearly that. When did the clubhouse burn?

I've had the terrorist conversation before as well, but it tends to be any small town tourist area. Anyone could drive a van into Seaside on a major holiday weekend and the fallout would be horrible. However, we haven't had that and it tends toward panic more than anything.

The West Beach Pool Clubhouse burned up May 15, 2008. I was in Watersound Beach and the guy I was with was also a firefighter. We went over there and I got a couple pictures of the JOE sales and executive staff watching the happenings.

 

[Matt J]

So they're just leaving it alone or are they rebuilding?

 

[AAbsolute]

So they're just leaving it alone or are they rebuilding?

JOE told me they were rebuilding immediately on May 16, but I have not seen any work start. I stopped checking in on it a month or two ago.

 

[Matt J]

JOE told me they were rebuilding immediately on May 16, but I have not seen any work start. I stopped checking in on it a month or two ago.

Probably waiting on an insurance settlement.