WaterSound for 69k

[weatherman]

69k for a lot in Watersound? MLS 487283. As a developer in this area from a pure cost of infrastructure perspective this is cheap. That puts about a 10k value on the land, and the rest would be cost of infrastructure.

I have no financial interest in this lot or any lot at Watersound or even Walton county, but would like to hear from the RE community if they perceive value in that price.

 

[Lisa Ruby]

Please note this is for Watersound North. And yes, it's a good value, as are many of the vacant lots north and south of 98!

 

[beachyteachy]

My friend and her husband have been watching lots in Watersound. Needless to say, after this pricing they are now the owners of a lot in Watersound.

 

[pete23]

How much do they have to pay each year for the community development district (CDD) bonds? Also, what are the fee for the administration of the district?

 

[tsutcli]

It is confusing between Watersound North, WS Beach and WS West Beach. Large difference in location between them especially the North property.

 

[fisher]

My friend and her husband have been watching lots in Watersound. Needless to say, after this pricing they are now the owners of a lot in Watersound.

Were they waiting on a lot in Watersound North, Watersound Beach or Watersound West Beach?

$69k for a resale lot doesn't sound like a great deal for a non waterfront lot north of 98.

Joe is offering lots in WSN in the 90's with the following "throw ins"--

INCREDIBLE OPPORTUNITY – PURCHASE INCLUDES BEACH CLUB MEMBERSHIP! There’s never been a better time to purchase a homesite in this new St. Joe community. For a short time, purchasers of WaterSound homsites from St. Joe will receive a free membership to the exclusive, private WaterSound Beach Club…no initiation fees and no monthly dues for two (2) years. It gets even better...purchasers of new WaterSound homesites from St. Joe will be able to enjoy the Town of WaterSound today through a new owner incentive program called “WaterSound Living.” Purchasers will be allowed to experience the best of “WaterSound Living” through the use of the Gatehouse Residences at WaterSound Beach. Nominal use fees and other minor restrictions apply, so call us today for all the details on how you can select your WaterSound homesite for tomorrow but start enjoying the “WaterSound Living” experience today

Joe is getting desperate. How do the purchasers of beach club memberships feel about these giveaways?

 

[beachmouse]

IIRC, the Watersound North area always was supposed to be significantly cheaper than the stuff south of US 98.

 

[beachyteachy]

I'm not sure of the specifics of their purchase. I just know that they'd been wanting to buy there for quite some time.

 

[AAbsolute]

Watersound Beach Club

I'm a Watersound Beach owner and a member of the Beach Club. The club was great when it felt private. It is destined to be a very similar experience to our Beach Club at Watercolor. We don't have control over how it's going to change because it's not an equity membership in a truly private club. We should enjoy it while we can and get over it when we don't enjoy it being over crowded.

For Watersound Beach owners who missed their chance to join the Beach Club, don't worry about it to much. The Dunesider will be pretty equal and someday it'll be more exclusive than the Beach Club. I do sympathize that Watersound Beach owners can't play tennis, but that's probably not such a big deal to most.

For the investor types out there, buy a lot from JOE and take advantage of their incentives while you can. If you are willing to close on the purchase by the last day of the quarter you can help them post better numbers to their shareholders. It's a win/win.

 

[Lookylou]

We are looking at buying a lot in WS West from Joe. What should we be worrried about, negotiating for, etc.? If $69K is not great for North, what woudl be great for WS West?

I so enjoy reading this board. Thanks to you all.

Happy Fourth everyone! Pray for our soldiers.