Lakeplace Cottage

**Garner** · 05-09-2006, 03:43 PM

Greetings,

I have recently listed an adorable cottage in the sought after Lakeplace at Grayton neighborhood. This gated community south of 30-A, behind the Grayton Starbucks, is remarkably quiet and private and does not allow short term rentals. The cottage is set back and nestled amongst mature oaks, pines and lush native vegetation. The home, built in 2001, is a charming 2 bedroom, 2 bath house with a separate storage building on a beautiful lot. More? - a community dock on Western Lake with incredible dune views plus a common area that includes a swimming pool and large lawn for neighborhood get-togethers or after school fun. It is listed for $689,000. http://www.emeraldcoasthomesonline.c..._la_code=E2774

Lakeplace is uniquely located south of 30 A, with Grayton Beach State Park on the east and Western Lake bordering the south and west. Not many neighborhoods offer this combination of State Park, Lake and Gulf views and access.

I also have the vacant lot next door listed for $545,000. http://www.emeraldcoasthomesonline.c..._la_code=E2774 This is a wonderful opportunity to purchase both, stay in the cottage while your dream home is built next door, then either sell the cottage or keep it for guests.

Buy one or both!

Please call or PM me for more information. Of course, if you are already working with a Realtor, please ask them to call.

Thank you,

**heartbren** · 02-21-2010, 12:43 PM

I guess you would not be interested in renting it to a person who is a Landlord herself (me). I would be happy to care for it and show it for you if so. I am relocating from New Orleans, selling everything and starting fresh. I am 53 yrs. old and do have small pets and a very clean home as well as an apt. I rent out. Please let me know and if so what the rent would be and if furnished or unfurnished, it does not matter either way. I am flexible, but am on a budget. Thanks so much. My number is (504) 888-0169 or (504) 231-5358. Email, hearbren@bellsouth.net. Thanks so much, Brenda

**kurt** · 02-21-2010, 03:05 PM

Thread is 4 years old.

**Douglas the Intrepid** · 02-21-2010, 03:24 PM

**shellak** · 02-21-2010, 03:52 PM

Originally Posted by kurt

Thread is 4 years old.

wow, the price alone was a give away! i started looking at foreclosures on the walton county clerk's office today...the results of the auctions are stunning along with the appraised price versus what is owed on most of these properties. there are clearly some great deals out there.

**melscuba** · 02-21-2010, 05:41 PM

Originally Posted by shellak

wow, the price alone was a give away! i started looking at foreclosures on the walton county clerk's office today...the results of the auctions are stunning along with the appraised price versus what is owed on most of these properties. there are clearly some great deals out there.

It's my understanding the price paid at auction is that amount PLUS judgement on the property. So if the judgement is $500,000 and one pays $120,000 for the property at auction. The winner at auction has to pay $620,000.

**30A Skunkape** · 02-21-2010, 06:12 PM

Thread is four years old, but one thing has not changed-NO short term rentals in Lakeplace. It is a great neighborhood.

**JUL** · 02-21-2010, 08:09 PM

not sure i have seen this neighborhood. i will have to pay closer attention next time i go to starbucks when i am in town

**ray** · 02-21-2010, 08:50 PM

Melsuba who told you that? maybe a realtor can chime in. some of the prices i've seen on the auction site are insane and so far under the recent comps i find them hard to believe.in neighborhoods with brisk sales it seems auction prices 20-30% under.

**robertsondavies** · 02-21-2010, 09:36 PM

ray, what auction site are you talking about?

**ray** · 02-22-2010, 12:09 AM

foreclosed properties that are auctioned off on the court house steps.my wife pulled up the site a few weeks ago and prices didn't seen real.a lot of $1 or crazy prices. maybe a neighborhood had several sales at 400k in last 3 months then bamm a $280k sale

**melscuba** · 02-22-2010, 07:16 AM

Originally Posted by ray

Melsuba who told you that? maybe a realtor can chime in. some of the prices i've seen on the auction site are insane and so far under the recent comps i find them hard to believe.in neighborhoods with brisk sales it seems auction prices 20-30% under.

https://www.walton.realforeclose.com/ is where the auction site is. I spoke with a local (being SoWal) attorney who informed me of the process. It is also my understanding that the $100.00 auction wins are usually the bank buying back the property that otherwise didn't get any bids.

**Bobby J** · 02-22-2010, 07:25 AM

Originally Posted by melscuba

https://www.walton.realforeclose.com/ is where the auction site is. I spoke with a local (being SoWal) attorney who informed me of the process. It is also my understanding that the $100.00 auction wins are usually the bank buying back the property that otherwise didn't get any bids.

The bank typicallly "buys" the property back if no one bids to the note value.

**ray** · 02-22-2010, 07:49 AM

bobby i saw were a loan servicing company recently bought a home back for 290k that had a 850k or more note. my question is if the bank buys its own property back doe that go on the comp as a sale? if so it kills the neighborhood

**Bobby J** · 02-22-2010, 09:41 AM

Originally Posted by ray

bobby i saw were a loan servicing company recently bought a home back for 290k that had a 850k or more note. my question is if the bank buys its own property back doe that go on the comp as a sale? if so it kills the neighborhood

I don't believe that bank the getting the property on the courthouse steps will be considered a sale. What will be considered is when the bank then sells the property to the public.