Seaside Sales

Very good information SJ. thanks

Two Seaside homes closed yesterday, each at over $1,000 per sq ft. One sold at $3.3 Million, listed at $3.5 Million, and the other sold at $1.75 Million, listed at $1.795 Million.

And people question the value of WaterColor at $600/sq. ft!

Seaside is no doubt a great place. It's where it all started! It's fabulous!

But you can own in WaterColor (with it's superior amenities) and you also get nearly all the benefits of Seaside as well! I can walk from my house in Phase 3 to the Town Center of Seaside in about 10 or 12 minutes. I've not timed it riding a bike, but I'm sure I can do it in under 5 minutes.

I'm not an expert on construction... but the fact that most of the Seaside homes were built a long time ago means they are not constructed as well as the new homes being built in WaterColor. And they don't have the same amenities as the newer homes... including some things that you can never change, like high ceilings, etc.

These prices in Seaside are what the market is willing to pay to own in Seaside. I think that down the road... once WaterColor is built out and the market stabilizes... youl'll see WaterColor houses selling at a premium over Seaside houses.

"Two Seaside homes closed yesterday, each at over $1,000 per sq ft."

Yes - but what was the floor plan, architectural design, finishes .. did it have granite, a carriage house, a claw tub and on and on and on? Without that information, we cannot possibly know if the poor functionality, age and general state of disrepair of the house caused such a high price per square foot to be paid by the buyer. Or we could just assume that over $1,000.00 a foot is the going rate in Seaside and has been for some time - just like the going rate in Watercolor is generally $500.00 to $800.00 dollars a foot. Hence, Sable Point asking $385,000.00 for a 1/5 fraction of a 4000 foot Watercolor house. I know, I'm a simpleton.

Don't underestimate the value of being the place named in all the design or urban planning books. Seaside will always command a premium compared to surrounding areas in the same way a home by a big name architect will always command a premium compared to homes designed and built by people without the national/international reputation.

"Two Seaside homes closed yesterday, each at over $1,000 per sq ft."

Yes - but what was the floor plan, architectural design, finishes .. did it have granite, a carriage house, a claw tub and on and on and on? Without that information, we cannot possibly know if the poor functionality, age and general state of disrepair of the house caused such a high price per square foot to be paid by the buyer. Or we could just assume that over $1,000.00 a foot is the going rate in Seaside and has been for some time - just like the going rate in Watercolor is generally $500.00 to $800.00 dollars a foot. Hence, Sable Point asking $385,000.00 for a 1/5 fraction of a 4000 foot Watercolor house. I know, I'm a simpleton.

Both homes are on interior lots, north of 30A. Seaside is much less spread out than WaterColor, and there is not as much of a price variance for properties north of 30A as compared to WaterColor.

The one selling at $3.3 Million --> Built 1994, 2680 sf, 4bd/4.5 bath
"This stately home of classical design features an open and light-filled great room with antique pine floors, fireplace, gourmet kitchen, master suite with whirlpool tub. Redwood siding, recirculating hot water system for instant hot water, rheostats on all light fixtures, two water filtration systems. Addl. 1160 SF porches/balcony. Includes 2 bedroom, 1 bath guest house (+- 850 SF HVAC) with fireplace. Featured in "Coastal Living"."

They paid $2.2 Million four years ago. Yep, real estate as an investment it just terrible. :funn:

The other house is older, built in 1989. Two Story, 3/3, 1700 sf, raised tower, room for carriage house on lot.

"we cannot possibly know if the poor functionality, age and general state of disrepair of the house caused such a high price per square foot to be paid by the buyer.

Not sure what you mean here Full Time? I'm guessing that the two houses were NOT in a general state of disrepair, nor did they have poor functionality... but were in fact in spectacular condition. Otherwise they would not have commanded such a nice price.

"The one selling at $3.3 Million --> Built 1994, 2680 sf, 4bd/4.5 bath"

1200 a square foot. 16 homes sold in Seaside since 1/1/06 and the average price per square foot ..... drum roll please .... 1200 a square foot. Funny how that works out. Other than location, the rest of that list is pretty much a matter of personal taste. It might help you sell before the other 150 listings but when the rubber hits the road, you'll still only get what the market dictates (i.e. about the average price per square foot for the area). So back to my original question, how much per square will jimmyp pay for a Watercolor house?

"Hence, Sable Point asking $385,000.00 for a 1/5 fraction of a 4000 foot Watercolor house. I know, I'm a simpleton.

Also not sure what you're getting at here. Are you doing quick division in your head and thinking that my price is approx. $1000 per sq. ft? (Approx. $400,000 divided by 4000 sq. ft.?)

Actually, the house has 3,300+/- total heated/cooled sq. ft.

Let me first say that I'm not selling "fractionals". We are doing what lots of people do and that is getting partners to share ownership in a vacation home.

This is a brand new house that is decked out with all the amenities, finishes, extras, and upgrades. It has a large carriage house above the 2 car garage. It has 3 covered porches (all with tongue & groove ceilings). One of the covered porches has a wood burning fireplace and outdoor summer kitchen. (by the way, Kitchens are the highest cost/sq. ft. of all space in a house... and our house essentially has THREE kitchens total).

I could go on and on... but you can read all about it at www.129Bluejack.com.

And the cost per sq. ft. is only $583/sq. ft. That's finished... completely decorated, furnished, and outfitted, etc.

This is a good deal any way you measure it. We have a house that we want to keep because WE LOVE WATERCOLOR. The only way we can justify it is by getting partners and sharing the ownership and expenses.

Since most people can't use their vacation home more than 20% of the time anyway, we're looking for partners who want to own 20% of an outstanding Resort Vacation Home in WATERCOLOR.

"The one selling at $3.3 Million --> Built 1994, 2680 sf, 4bd/4.5 bath"

1200 a square foot. 16 homes sold in Seaside since 1/1/06 and the average price per square foot ..... drum roll please .... 1200 a square foot. Funny how that works out. Other than location, the rest of that list is pretty much a matter of personal taste. It might help you sell before the other 150 listings but when the rubber hits the road, you'll still only get what the market dictates (i.e. about the average price per square foot for the area). So back to my original question, how much per square will jimmyp pay for a Watercolor house?

Fulltime, it sounds like you are trying to indirectly tell us that properties in all developments are worth no more than the avg price per sq ft. As stated earlier, Seaside is much less diverse in terms of location and time built, than WaterColor. If the avg price of a home in WC is $700/sf, does that mean that if one is built with more upgrades, buyers are not willing to pay more than the avg price of $700/sf? They call it average because it is just that. The majority of the houses will be in the middle price range, with lows and highs on both ends. I'm really not sure what you are trying to tell us. Please share your thoughts.

I'm not an expert on construction... but the fact that most of the Seaside homes were built a long time ago means they are not constructed as well as the new homes being built in WaterColor. And they don't have the same amenities as the newer homes... including some things that you can never change, like high ceilings, etc.

Seaside has always had a strict design code that required high quality materials and all homes have had features like high ceilings from the beginning. And, for some of us the 1980's weren't that long ago.

Seaside has always had a strict design code that required high quality materials and all homes have had features like high ceilings from the beginning. And, for some of us the 1980's weren't that long ago.

Sorry Palm Beach. I didn't mean to disparage Seaside in that way. I am absolutely smitten with Seaside.

And I obviously don't know what I'm talking about with regard to High Ceilings in Seaside either. I do know that they had high design codes, just like WaterColor (and other high end developments) now do. Thanks to Seaside for setting the bar so HIGH!

I should have been less specific and more general... because what I meant to infer is that building codes have been tightened dramatically since Seaside developed the new urbanism concept and showed us all how wonderful these developments can be.

I was making an assumption that the new houses being built today in WaterColor are just sturdier... and maybe I'm wrong.

Lastly... one thing that cannot ever be done is replicating the charm that is Seaside.

Great news SJ on Seaside.

Shelly, the negative spin please

Shelly, the negative spin please

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:( :( :( :( :( :(

Thousands of innocent balloons were sacrificed for just these two sales!!

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:rofl:

:( :( :( :( :( :(

Thousands of innocent balloons were sacrificed for just these two sales!!

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Shelly, in many respects, I have agreed with your analysis of our market over the last year. With this above comment, you have made me laugh. You are a trip. 😀

Sure hope they have lots of working fire hydrants...30 year old wood frame houses and zero lot lines...

Thanks for the laugh SHELLY! :rolling:

:( :( :( :( :( :(​

Thousands of innocent balloons were sacrificed for just these two sales!!​

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Well, even I can laugh at that one, however everyone knows Seaside does not allow signs or balloons! Like Shelly says, you should not invest in RE at the beach unless you want to make an easy million dollars!:rolling:

Like Shelly says, you should not invest in RE at the beach unless you want to make an easy million dollars!:rolling:

Yep..considering you start out with $3-Million.😀


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Sure hope they have lots of working fire hydrants...30 year old wood frame houses and zero lot lines...

Most of the houses at Seaside are actually NOT zero lot line homes..... they are around Ruskin Place but most are detached.....

Well, even I can laugh at that one, however everyone knows Seaside does not allow signs or balloons! Like Shelly says, you should not invest in RE at the beach unless you want to make an easy million dollars!:rolling:

Yep..considering you start out with $3-Million.😀


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Shelly, :banging:

They paid $2.2 Million for the house and sold it for $3.3 Million. I think your math is backwards. :funn:

Both homes are on interior lots, north of 30A. Seaside is much less spread out than WaterColor, and there is not as much of a price variance for properties north of 30A as compared to WaterColor.

The one selling at $3.3 Million --> Built 1994, 2680 sf, 4bd/4.5 bath
"This stately home of classical design features an open and light-filled great room with antique pine floors, fireplace, gourmet kitchen, master suite with whirlpool tub. Redwood siding, recirculating hot water system for instant hot water, rheostats on all light fixtures, two water filtration systems. Addl. 1160 SF porches/balcony. Includes 2 bedroom, 1 bath guest house (+- 850 SF HVAC) with fireplace. Featured in "Coastal Living"."

They paid $2.2 Million four years ago. Yep, real estate as an investment it just terrible. :funn:

The other house is older, built in 1989. Two Story, 3/3, 1700 sf, raised tower, room for carriage house on lot.

Was the larger house located at 81 Seaside Avenue?

Was the larger house located at 81 Seaside Avenue?

yes and the other was 33 Pensacola.