High Pointe Resort

[GaDawg]

Could someone fill me in on High Pointe Resort ? For the life of me,I don't understand the current thinking of the owners that have their units for sale in this complex. Owners have the right to list their property at whatever price they desire and accept any price they want. We have done alot of research on the market and on this complex over the last 4 to 5 years.Currently,the listed prices are way off base compared to todays market conditions and compared to the comps for this complex(which date back 18 months). We have made several offers at fair prices and cannot get anyone to get realistic with counter offers . They feel that their units are still worth the prices that some units sold for in 2005 and 2006.We would love to purchase in this complex,but will not pay more than market conditions.
If anyone knows the inside scoop,please fill me in.......... :confused:

[nowgirl]

Are you making offers on gulf front units or interior units?

[RiverOtter]

High Pointe is an awesome complex. Very well built, gulf front, awesome pool, beach and pool side restaurant / bar, clay tennis courts huge amount of beach front. The board stays on top of all maintenance and is constantly making improvements. Don't take this the wrong way but it sounds like people love their condos more than you want to own there. The market is working for HP. Market value isn't only what someone is willing to pay, it's also what someone is willing to sell for.

Note: I hope no one takes offense to this post but its early and my smoothness isn't really working yet :blush:

[Just_In_Thyme]

Contrary to popular belief, not everyone bought at the height of the frenzy. There we quite a few people here who bought well before prices skyrocketed and can afford to sit, or ask for whatever price they see fit, regardless of what others think of "current conditions" and what the sale price should be.

[RiverOtter]

Contrary to popular belief, not everyone bought at the height of the frenzy. There we quite a few people here who bought well before prices skyrocketed and can afford to sit, or ask for whatever price they see fit, regardless of what others think of "current conditions" and what the sale price should be.


Ya.... that too :cool:

[beachmouse]

Or in other words, you're dealing with sellers that aren't serious about selling. Guess the best thing to do is make sure your realtor keeps a sharp eye for new properties on the market from that complex so that when you do get a 'real' seller, you're good to go.

[GaDawg]

RiverOtter and Just In Thyme your comments are exactly right. High Pointe is a great complex and alot of people did buy early on, but everyone is not in that boat. You have gulf front units selling for under 700,000 and even one that sold for 500,000. And in turn you have some sellers asking 720,000 for poolside/ground floor units. That's my point! In this market today you cannot pay more for a poolside unit than a gulf front unit. The two comps for ground floor units sold in the 400,000's. All of this info can be verified on the walton county pa page. I will continue to watch the market and for the ones of you that bought early or do not have to sell, great for you. You are in a good position. The search continues.

[spinDrAtl]

Ga Dawg, what kind of 'fair' offers are you making, if you don't mind saying? 2 bedroom or 3 bedroom? Gulf front or poolside? It seems you love the complex (watching 4-5 years) and want to buy in but apparently aren't offering enough to get someone else to give up something they enjoy. It may be a fair offer but not enough to induce someone to sell. As someone said, if buyer and seller don't agree, then you have not established the 'market', at least not for that property.

The sellers may be serious about selling, but selling at what their property is worth to them, not what someone down the road in another location says the 'market' is.

I am an owner, not selling, and agree with everything River Otter said. Most properties on that strip of 30A on the ocean side are single family homes and that makes our complex pretty unique with the amenities we have. There are some newer places with similar things across 30A but who wants to walk (or be shuttled) across the road. :)

I believe there was one poolside ground floor unit that sold at an auction in the last year for something like 495k (someone please correct me if I'm wrong as it's been awhile since I saw that).

Edit: Unit 133 is, I believe the auctioned property and sold for 434500 in Oct 2006.

I was actually looking at realtor.com last week and the lowest HP unit I saw was 695k, 3rd floor poolside 2BR. Previously there had been a 2BR 1st floor poolside for 649k I think, but I have not seen anything lower than that except the auction. I don't know what may have closed in the last 12 months.

We thought VERY VERY (let me emphasize 'VERY') briefly of possibly selling at the peak a couple years ago. We are an original owner and decided we would rather have our condo than sell. We use it a lot, we take friends there, and it's cash flow positive. There is probably a number that would get me to sell but I don't know what it is.

[RiverOtter]

Ga Dawg, what kind of 'fair' offers are you making, if you don't mind saying? 2 bedroom or 3 bedroom? Gulf front or poolside? It seems you love the complex (watching 4-5 years) and want to buy in but apparently aren't offering enough to get someone else to give up something they enjoy. It may be a fair offer but not enough to induce someone to sell. As someone said, if buyer and seller don't agree, then you have not established the 'market', at least not for that property.

The sellers may be serious about selling, but selling at what their property is worth to them, not what someone down the road in another location says the 'market' is.

I am an owner, not selling, and agree with everything River Otter said. Most properties on that strip of 30A on the ocean side are single family homes and that makes our complex pretty unique with the amenities we have. There are some newer places with similar things across 30A but who wants to walk (or be shuttled) across the road. :)

I believe there was one poolside ground floor unit that sold at an auction in the last year for something like 495k (someone please correct me if I'm wrong as it's been awhile since I saw that).

Edit: Unit 133 is, I believe the auctioned property and sold for 434500 in Oct 2006.

I was actually looking at realtor.com last week and the lowest HP unit I saw was 695k, 3rd floor poolside 2BR. Previously there had been a 2BR 1st floor poolside for 649k I think, but I have not seen anything lower than that except the auction. I don't know what may have closed in the last 12 months.

We thought VERY VERY (let me emphasize 'VERY') briefly of possibly selling at the peak a couple years ago. We are an original owner and decided we would rather have our condo than sell. We use it a lot, we take friends there, and it's cash flow positive. There is probably a number that would get me to sell but I don't know what it is.


Ok.... that is what I meant to say this morning :biggrin:

[spinDrAtl]

Here is what I see for recent sales at waltonpa.com :

10/06 - #133 434500 - 2br ground floor poolside
5/07 - #46W - 1.2 mil - 3 br 4th floor gulf
8/07 - #233 - 739k - 2BR 3rd floor poolside
9/07 - #32W - 700k - 2br 3rd floor gulf
9/07 - #13W - 689k - 2br 1st floor gulf
9/07 - #13E - 500k - 2br - 1st floor gulf

So I only see one sale in the 400's and I think it was an auction. I am pretty sure I have been in 13W (a friend rented it) and it was kind of mess inside - dirty stained worn carpet, older furnishings, etc. I was surprised they (edit: 'They' being Resort Quest) rented it in that condition if it's the one I am thinking about. Possibly influenced the sale price if it was kind of an 'as is' deal.

#13E for 500k looks like an aberration to me, maybe not arms length, who knows? Anyone, anyone? Beuller?

The unit I saw listed at 695k was a 3rd floor poolside. People may value that view more than a ground floor gulf unit.

[RiverOtter]

13E sold for 500K in Sept. (1st floor)
13W sold for 689K in Sept. (1st floor)
32W sold for 700K in Sept. (3rd floor)
233 sold for 739K in Aug. (2nd floor)
46W sold for 1.2 mil in May (4th floor)

133 sold for 434,500 back in Oct of 06. (1st floor)

To me it depends as much on the floor as the building, IMHO the 4th floor pool units have a better view than the 1st floor gulf front.

[GaDawg]

SpinDrAtl, I appreciate the response and again I am not disagreeing, I'm just making the point that the prices are all over the place and that you really need to do your homework before buying. As far as recent sales, I was referring to Unit 134 which sold 12/7/07 for 417,000 and as you stated Unit 133 on 10/10/06 that sold for 434,500. There was a pool side unit 132 that was listed at 499,000 but has been pulled from the mls not too long ago. I have no problem telling you I have made offers on gulf and pool units. Some 2 and some three bedroom. One actually ended up selling for less than our offer. Again, High Pointe is Great and your right if your looking for that long of a time, you are definitely sold on the complex. I'm just not that sold on the prices yet. No complex, no matter how Great it is, is worth making a bad financial decision. Hopefully, soon we will be in the position that you are in, owning in a wonderful complex for a wonderful price and not interested in selling for a long, long time!

[spinDrAtl]

Sorry, I did not see the sale from 12/07 on the appraiser site. Good luck with your search. I can tell you that my poolside 2br unit, 2nd floor, appraised for 390k in July 2003 when I refinanced. I like to keep up with what's going on pricewise but I can tell you that I won't be selling anytime in the next probably 10 years anyways. We like it too much.

[Buckhead Rick]

Many people are seeing the eastern end of 30A being more valuable since it's closer to PC with new airport/Pier Park / growing dinning, all without being in PC. And Alys beach/Rosemary beach/ etc are very high end developments that time will make even better.
My wife has also be waiting for HP prices to drop and in many ways it's nice to see they are not. Maybe someday we can say the same for all of 30A.

[RiverOtter]

4th Floor Pool View (before they resurfaced the decking). You can watch the kids and dolphins while sipping a cool or warm beverage :biggrin:

http://www.sowal.com/bb/gallery/files/1/7/7/testview.jpg

[Pirate]

So recently I asked about Adagio. Would all of you rather have or rent a gulf front 3br here or a 4br gulf front in Adagio. I am looking forward to seeing the responses!

:cool::cool::cool:

[30abob]

So recently I asked about Adagio. Would all of you rather have or rent a gulf front 3br here or a 4br gulf front in Adagio. I am looking forward to seeing the responses!

:cool::cool::cool:

The 30' of gulf that I'm looking at from my living room right now is in between the east edge of Adagio and the gulf front tower at White Cliffs (of course from back here it looks more like 3"). So I vote for Adagio! However, my aunt has a gulf front at High Pointe and it is also very nice... you may want to flip a coin.

[RiverOtter]

So recently I asked about Adagio. Would all of you rather have or rent a gulf front 3br here or a 4br gulf front in Adagio. I am looking forward to seeing the responses!

:cool::cool::cool:


No doubt the units are Adagio are much nicer. But they are out of my league :cool:

[kurt]

Many people are seeing the eastern end of 30A being more valuable since it's closer to PC with new airport/Pier Park / growing dinning, all without being in PC. And Alys beach/Rosemary beach/ etc are very high end developments that time will make even better.
My wife has also be waiting for HP prices to drop and in many ways it's nice to see they are not. Maybe someday we can say the same for all of 30A.

Interesting observation since for so many years PCB has been looked down on and now it is seen as a plus.

[Buckhead Rick]

The Alys Beach newspaper that just came out had an article on 30A prices that mirrored those mentiond on this thread. I.E. those folks that are lowering their sales prices are those that bought for short term gains, those that are holding the line on their sales prices are those who bought for the long term. I did love his repeating the often heard quote: "I wish I had bought at (fill in name of project____) when the prices were so low a few year back".

[SHELLY]

those folks that are lowering their sales prices are those that bought for short term gains, those that are holding the line on their sales prices are those who bought for the long term.

If they bought for the "long term" why are they up for sale at all? :idontno:


.

[RiverOtter]

If they bought for the "long term" why are they up for sale at all? :idontno:


.


You are slipping SHELLY... This thread was started on 02/01. Can't believe it took you this long :idontno:

[GaDawg]

:lolabove: Shelly, I am new on this board,but LOVE your comments. Glad to here from you on this one.

[SHELLY]

:lolabove: Shelly, I am new on this board,but LOVE your comments. Glad to here from you on this one.

I'm just not a big fan of vacation condos as "investments." Why pay a million or more for the cow (including carrying costs and headaches) when you can get the milk for a couple of thousand for a couple of weeks....:idontno:...but that's just me.


.

[southof30A]

I'm just not a big fan of vacation condos as "investments." Why pay a million or more for the cow (including carrying costs and headaches) when you can get the milk for a couple of thousand for a couple of weeks....:idontno:...but that's just me.


.
Got my 4th floor 3 bdrm gulf front "cow" when it was still "veal". High Pointe BOD (and owners) have done a great job over the years in keeping up and improving the property.

[spinDrAtl]

If they bought for the "long term" why are they up for sale at all? :idontno:


.

Original owners could have closed as early as 1996, depending on which building they are in. 12 years qualifies as long term, IMO.

Original gulf front owners paid anywhere from the low 200's to mid 300s depending on 2 or 3 br's and what floor they were on. Original pricing on ground floor poolside units was as low as 143k.

[SHELLY]

Original owners could have closed as early as 1996, depending on which building they are in. 12 years qualifies as long term, IMO.

Original gulf front owners paid anywhere from the low 200's to mid 300s depending on 2 or 3 br's and what floor they were on. Original pricing on ground floor poolside units was as low as 143k.

And I'll betcha dollars to donuts some of them "harvested" equity to play the Preconstruction Condo Wheel of Fortune and can't afford to drop their prices any lower.


.

[spinDrAtl]

And I'll betcha dollars to donuts some of them "harvested" equity to play the Preconstruction Condo Wheel of Fortune and can't afford to drop their prices any lower.


.

Anyone who has been around here more than a day or two knows you are down on this market, down on the investulators, down on the 3 stooges, etc. But have you ever thought that some people may have done things the 'right' way?

You ask why spend 'x' dollars for a place to own when you can spend 'y' dollars to rent for a couple weeks. Ever think that someone may want to spend a couple months there every year? 6 months? Perhaps move there in the future? Ever think that someone may want to be able to come to their place anytime they want without having to deal with renting? Ever think that someone might want a place they can decorate as they please, have control over, own as a long term asset that may appreciate even though they bought it just for the pleasure of using it at their discretion as they see fit? Some people are even very successful, have worked hard, and can buy what they want with money they earned.

Someone answered that but nevermind, on to the next 'that person is an idiot' post.

You ask why someone if someone bought for the long term are they selling? Who knows - there could be a thousand reasons. You get an answer that maybe they have owned for 12 years already. Maybe they want to sell to realize some gains but not at firesale prices so they figure they will continue to enjoy their property while having it for sale. Maybe they live in Birmingham and are moving to Seattle and can no longer drive to their vacation home. Who knows?

But not satisfied with that, you then must characterize some person unknown to you as a pre-construction gambler when in fact you have no idea about any of these people beyond the ones you read about in the papers and on the web (maybe you know some personally - who knows). Of course there are many gamblers out there but there are also many people who put down 20% and take 30 year fixed rate mortgages and are happy with their property for its own sake and the enjoyment of the area, while seeing any appreciation in value as a bonus. The speculators and horror stories grab the headlines as no one wants to read about boring old John Doe who pays his mortgage and visits his property several times a year.

While you are apparently very knowledgeable and humorous, all this 'But I bet they did ... (insert stupid move by property owner)' is old and tired.

[SHELLY]

Anyone who has been around here more than a day or two knows you are down on this market, down on the investulators, down on the 3 stooges, etc. But have you ever thought that some people may have done things the 'right' way?


Pre-RE Frenzy--yes.......during--very, very few.......currently--a few more are just starting to catch on.


.

[Busta Hustle]

quote; a few more are starting to catch on.

i think shelly just said "it's a great time to buy?":idontno:

[trying2makeabuc]

Dear Spin,

Don't be dismayed by Shelly. She is a sacred cow on this site. I'm surprised her fans haven't jumped to her defense. She has a wonderful intellect but just doesn't have a cup is 1/2 full personality. There is really good information that Shelly and the rest of the regulars (Bobby J, Smiling Joe, etc.) provide.

We all have a dog in this fight. We, by virtue of checking this site out, are either buyers, sellers or wannabes. Those saying the market is horrible tend to be those who stayed on the sidelines and didn't make any money on the run up and those who want others to share their misery because they lost money. The optimists seem to be the real estate agents and associated beneficiaries, property owners with excess inventory (I'm in this camp) and people who are thinking of buying now (for why would you buy if you thought otherwise.) There are acorns of wisdom in both sides.

[SHELLY]

Dear Spin,

Don't be dismayed by Shelly. She is a sacred cow on this site. I'm surprised her fans haven't jumped to her defense.


I have two things to say about that!!! :angry:
.
.
.
.
.
.
.
.
.
.

.
.
.

.
.
.

.
.

.
(1) I have fans????:confused:
.
.
.
.
.
.
.
.

.
.

.

.
.
.

.

.
.

.
(2) Mooooooooooo.




.

[seaside2]

Shelly is a voice of reason shouting in a wilderness.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
And the half a cup of personslity is pretty decent, IMHO.

[spinDrAtl]

Dear Spin,

Don't be dismayed by Shelly. She is a sacred cow on this site. I'm surprised her fans haven't jumped to her defense. She has a wonderful intellect but just doesn't have a cup is 1/2 full personality. There is really good information that Shelly and the rest of the regulars (Bobby J, Smiling Joe, etc.) provide.

We all have a dog in this fight. We, by virtue of checking this site out, are either buyers, sellers or wannabes. Those saying the market is horrible tend to be those who stayed on the sidelines and didn't make any money on the run up and those who want others to share their misery because they lost money. The optimists seem to be the real estate agents and associated beneficiaries, property owners with excess inventory (I'm in this camp) and people who are thinking of buying now (for why would you buy if you thought otherwise.) There are acorns of wisdom in both sides.

I am not dismayed. I've been hanging around here for a couple years and reading Shelly's posts. Shelly was quite accurate on assessing where the market was heading.

It's one thing to assess market conditions and the economy, etc. etc. and comment on facts as presented in news articles, such as a specific speculator who bought 20 condos in a month or whatever. It's quite another to present yourself as knowing what's inside other people's minds, people you don't know and situations you have no knowledge of beyond a property listing price. The mystery personality and gender along with the air of superiority projected down upon the unfortunate real estate owning masses reminds me of the Great and Powerful Oz bellowing away to pay no attention to that man behind the curtain.

I don't have anything against Shelly and have gotten a kick out of many of his/her posts, but lately the posts have deteriorated into more of a denigrating 'nah nah nah look what that unknown person might have done - how stupid they are' based on nothing more than a listing price that has not been lowered.

I believe in some past posts (typing from memory here) that Shelly said something to the effect that (s)he would rather spend money on experiences than things, yet she apparently cannot understand that some people spend their money on property in Sowal in order to have many, many experiences in a place of their own that they can return to over and over.

Just my opinion, carry on.

[Mango]

Spin, you've been around long enough to know that Shelly's nah, nah, nah, boo boo is a form of real estate political foreplay before she gets to the wit and the insightful posts. Relax. :lol:

Truth is I wish I had a Shelly around give me a naysay nudge before I bought. As much as I love Sowal, maintaining real estate from afar, handling rentals, maintenance and all can be a royal pain in the butt. I broke one of the cardinal rules of real estate which is to buy somewhere that one could get to easily. I have to book flights, rent cars, and it takes me 9 hrs to get from door to door. Then I walk in and look around and get more tired just looking around at all the work I have to do. :blink:
Sometimes I feel like its worth it, and sometimes not.
I might feel differently if I was enjoying it every weekend with all my family. Maybe one day I will. One of the saving graces is if I hadn't bought, I wouldn't have found the Sowal community, and for that I am thankful. But there are times I do ask myself what the heck I was thinking. I am sure there are plenty of people who bought who haven't looked back, but sometimes a light smack by Shelly isn't all bad :D

[spinDrAtl]

But there are times I do ask myself what the heck I was thinking.

I can say that thought has never crossed my mind.

I am sure there are plenty of people who bought who haven't looked back, but sometimes a light smack by Shelly isn't all bad

I have no problem with the voice of reason, educated opinions on both sides, and even the occasional pompous holier than thou bluster from on high, but take a breath occasionally and don't paint everyone with the same brush.