Seacrest Beach Lots

Sandcastle · 03-18-2008, 09:30 PM

I noticed that there are two pool-front lots in Seacrest Beach II listed for $295,000 each. That seems awfully cheap. Does anyone know if these are bank-owned properties, short sales, or the developer trying to unload his remaining inventory?

goodwitch58 · 03-18-2008, 10:49 PM

According to MLS not short sale; at least one is owned by a developer.

InletBchDweller · 03-19-2008, 08:48 AM

From what I see lot P1 and lot O1 are both for sale at $295,000

same selling agent
same seller listed - seacrest beach

I have always been told that they were developer lots. If the seller is Seacrest Beach, Inc. then they are.

This is a great price for these lots. I remember in 2002 my mom was looking at buying one for $275,000.....

robertsondavies · 03-19-2008, 06:19 PM

anybody have opinion(s) on the little TreeTops lots for sale, that neighborhood tucked in behind Seacrest Beach...

could I build an Alys Beach style home in there, or would the building restrictions require crappy woodlap style cracker chic, exposed rafters yada yada yada??

Sandcastle · 03-19-2008, 08:40 PM

IBD, you’re right. Both lots were sold by Seacrest Inn, LLC to Seacrest Beach, Inc. in 2003 for $500,000 each – per the Property Appraiser’s data base. I wonder if cash actually changed hands.

I own a lot across the pool from O-1. The recorded sale of those two lots for $500,000 each certainly increased the appraised value of my lot and my tax bill. After that, several people paid between $500,000 and $710,000 for similar lots. A number of those lots still have mortgages ranging from $450,000 to $640,000.

I hope that the Property Appraiser takes note when (if) those lots sell.

robertsondavies · 03-19-2008, 09:22 PM

I thought lots in Seacrest Beach were going for around $130,000 or less ( and dropping by the week) now... or is that just what they call "street pricing" ?? Compared to that, 295k sounds like a hell of a premium to pay to be closer to the beautiful sounds of the kiddie pool. i'm half sure I'm missing something though. are these lots you're talkiing about much bigger than the average Seacrest postage size, 0.08 acre lot??

Sandcastle · 03-20-2008, 03:33 PM

Quote:

Originally Posted by robertsondavies

I thought lots in Seacrest Beach were going for around $130,000 or less ( and dropping by the week) now... or is that just what they call "street pricing" ?? Compared to that, 295k sounds like a hell of a premium to pay to be closer to the beautiful sounds of the kiddie pool. i'm half sure I'm missing something though. are these lots you're talkiing about much bigger than the average Seacrest postage size, 0.08 acre lot??

Nope. They're pool-front lots (35"X80' or smaller). The lowest price ever paid for one was $75,000 in 2000. I believe that the last sale was for $710,000. The county Property Appraiser had all of them valued at $600,000 two years ago -- he dropped that to $450,000 last year. There are a lot of people with big mortgages on those babies!

SHELLY · 03-20-2008, 04:21 PM

Quote:

Originally Posted by Sandcastle

Nope. They're pool-front lots (35"X80' or smaller). The lowest price ever paid for one was $75,000 in 2000. I believe that the last sale was for $710,000. The county Property Appraiser had all of them valued at $600,000 two years ago -- he dropped that to $450,000 last year. There are a lot of people with big mortgages on those babies!

I guess "then" wasn't a great time to buy.

.

Sandcastle · 03-20-2008, 04:34 PM

I just hope the banks pay the homeowners dues after foreclosure.

SWGB · 03-20-2008, 05:53 PM

Quote:

Originally Posted by Sandcastle

I just hope the banks pay the homeowners dues after foreclosure.

I believe they have to as that was discussed in another thread. The HOA could still go for a lien on the property if the dues are not paid.

I'm curious about the statement above regarding Treetops, are those homes going to have access to the beach as well?

Sandcastle · 03-20-2008, 07:33 PM

Quote:

Originally Posted by sowalgayboi

I'm curious about the statement above regarding Treetops, are those homes going to have access to the beach as well?

I think so, and so does the Inn.

SWGB · 03-20-2008, 08:43 PM

Quote:

Originally Posted by Sandcastle

I think so, and so does the Inn.

I knew the Inn did, but where are these people going to park? That's seriously getting far enough back that even a tram ride is going to seem a little lengthy.

Sandcastle · 03-20-2008, 09:07 PM

Quote:

Originally Posted by sowalgayboi

I knew the Inn did, but where are these people going to park? That's seriously getting far enough back that even a tram ride is going to seem a little lengthy.

That's a good question. Maybe I can cover my homeowners dues by charging for parking on my vacant lot.

SWGB · 03-20-2008, 09:15 PM

Quote:

Originally Posted by Sandcastle

That's a good question. Maybe I can cover my homeowners dues by charging for parking on my vacant lot.

Charge by the tire, that'll really rack up on the doolies.

robertsondavies · 03-21-2008, 07:13 AM

Does anyone know about the covenants at Treetops.... what kind of homes can be built in there... could you build a concrete home inspired by the Alys Beach style, w/ white stucco, and white concrete tile roof??

waterst1 · 03-23-2008, 10:33 PM

I suspect you can find a copy of the CC&Rs in the public records if you do not want to ask the realtor for a copy. How much are those lots?

InletBchDweller · 03-23-2008, 11:25 PM

Quote:

Originally Posted by robertsondavies

anybody have opinion(s) on the little TreeTops lots for sale, that neighborhood tucked in behind Seacrest Beach...

could I build an Alys Beach style home in there, or would the building restrictions require crappy woodlap style cracker chic, exposed rafters yada yada yada??

PM me for any info that you may need. I know alot about Treetop...

Quote:

Originally Posted by robertsondavies

I thought lots in Seacrest Beach were going for around $130,000 or less ( and dropping by the week) now... or is that just what they call "street pricing" ?? Compared to that, 295k sounds like a hell of a premium to pay to be closer to the beautiful sounds of the kiddie pool. i'm half sure I'm missing something though. are these lots you're talkiing about much bigger than the average Seacrest postage size, 0.08 acre lot??

Many people find the pool lots desirable. Homes that are on the pool or that are close to the pool are good renters. Pool lots/homes have their own private gate that leads to the pool which makes it desirable to renters/owners. Some people dont want to be close to the "noise" of the pool area so in that case there are many lots away from the pool....

Quote:

Originally Posted by Sandcastle

I just hope the banks pay the homeowners dues after foreclosure.

yes they will

Quote:

Originally Posted by sowalgayboi

I believe they have to as that was discussed in another thread. The HOA could still go for a lien on the property if the dues are not paid.

I'm curious about the statement above regarding Treetops, are those homes going to have access to the beach as well?

Treetop Community (which consits of Treetop and 2 other parcels) all have the same deeded beach access as Seacrest Beach Subdivision.

Quote:

Originally Posted by robertsondavies

Does anyone know about the covenants at Treetops.... what kind of homes can be built in there... could you build a concrete home inspired by the Alys Beach style, w/ white stucco, and white concrete tile roof??

robertsondavies, I am not sure if you could build exactly that in Treetop but I can get you a copy of the cov and rest and you can read them over. (I am a Realtor but I am also on the BOD)

InletBchDweller · 03-23-2008, 11:27 PM

Quote:

Originally Posted by waterst1

I suspect you can find a copy of the CC&Rs in the public records if you do not want to ask the realtor for a copy. How much are those lots?

I bet you could pick up lots starting at around $100,000

dano · 03-30-2008, 11:57 PM

I bought a lot in Tree top about 2 years ago for a very overvalued price at the time i didn't think so. Can anybody give me a good idea what these lots will possibly increase in value to in the next 2-3 years, anxious to sell but will hold on till value increases. The new airport has to help?
Thanks for any response
Dano

egrp · 03-31-2008, 04:36 PM

dano to be very honest with you i would not anticipate any appreciation over the next 2-3 years...there just too much supply and the location is not great.

InletBchDweller · 03-31-2008, 06:02 PM

Quote:

Originally Posted by egrp

dano to be very honest with you i would not anticipate any appreciation over the next 2-3 years...there just too much supply and the location is not great.

egrp, I agree with you about supply, but to me, the location is good.