Forest park

[elgordoboy]

I really like that property. Give it enough time, and it will be very nice, I think. It, like many other developments, hit just before the peak of the market, and the money dried up, so builders couldn't afford to build. I don't know for sure, but it seemed to me that every lot which came on the market, sold within a few days. I'm not sure if the developer is still holding lots.

I think the developer had/has only a handful of lots left. When I was looking at the neighborhood it appeared that nearly every lot had sold at inception a few years ago. $115,000 range was the initial pricing I believe for interior lots, peaked around $415,000 for an equivalent lot with flipping. The first house built in there is a higher grade build/finish (and price) than what is now being put in (I think) in an effort to stimulate demand.

 

[ckhagen]

I really like that property. Give it enough time, and it will be very nice, I think. It, like many other developments, hit just before the peak of the market, and the money dried up, so builders couldn't afford to build. I don't know for sure, but it seemed to me that every lot which came on the market, sold within a few days. I'm not sure if the developer is still holding lots.

I agree... I spent some time on the property taking pictures and whatnot for some of the materials and it's really pristine. The location is just gorgeous and the overall idea is very nice.

The lots did all sell out by lottery initially (all the ones they put up). I'm trying to remember if they held any, because we put together an interactive map that went lot by lot within pricing and specs, but that's not on the site anymore.

Those darn flippers just seemed to price them high enough to keep parties interested in actually building out of the pool of buyers long enough to pass the peak.

Come the time when they were listing them for $400k+, I was really wishing I had asked for a lotto spot for the original prices! Considering I started work on the site long before the sales started.

 

[scooterbug44]

I don't know how the prices in general compare to the lotto prices, but a cursory search on the MLS found one around $200K which I don't think is a bad starting price for a 1/4 acre lot close to 30-A w/ amenities.

 

[elgordoboy]

There was one not too long ago for 184k I believe..it was only 40' across but like 300 deep though.(1/4 acre +/-)

 

[GTSViper]

I am not sure, but I think every house in the development is a short sale right now.

 

[robertsondavies]

I like the development too... beach access is a big hangup for some I suppose, in that its a long ways away... like Cypress whatchamacallit, down east on 30A.... out yonder near the intersection of hwy 98 and the infinity edge pool somewheres

 

[Bob]

I like the development too... beach access is a big hangup for some I suppose, in that its a long ways away... like Cypress whatchamacallit, down east on 30A.... out yonder near the intersection of hwy 98 and the infinity edge pool somewheres

I came up with 3200 feet from Forest Lakes to the nearest access behind Goatfeathers vs. a hair over 6000 feet to Bishop St. access from Cypress whatchacallit down west[i believe] on 30a past Butler Elementary.

 

[Jellyfish]

I have a friend that has a lot in there. Paid around $400K, looking to sell now at $200K with no takers. I think the lot sales were 90% "investors" :funn:

 

[robertsondavies]

Yeah, so not so bad, 1000 yards... except the average home in Forest Parks is an additional 500 yards from the community entrance... certainly better than Cypress-John Willis...

in time, this property too, will become valuable - cleaning up the forced sellers could be a relatively quick process in South Walton... it could be done in a matter of 2 or 3 months -

As PCB continues to head lower even into late 2008 due to too many forced sellers, people who wanted in here are going to scratch their heads and wonder why So Wal real estate is bouncing - the protest that "PCB is still falling" is going to fall on deaf ears sooner than people I think expect.

 

[By the Bay]

Hey all,
Our company is doing a lot of the homes now under, and about to start, construction in Forest Lakes. Our plans are not featured on their website. Just let me know if anyone wants to see some of our Forest Lakes approved plans. www.archiscapes.com
We've had some wonderful customers come to us to build in there and I think it is going to be awesome as more families jump in. We're seeing more families that want this to be their full time home.