Freeport Real Estate - general discussion

[Smiling JOe]

from another thread:

I think Freeport has yet to sell a house to an end user in any number of it's brand spankin new RE developments...

Windswept, Hammock Bay, Canopies, Lagrange Landing, Cross Creek Est., etc, etc...

A town of 1,500 people with plans to build 4,000 residential dwelllings in a couple years... What a pipe dream!!!

FYI - Windswept, Hammock Bay, Canopies and Cross Creek all have end users who have bought. If you want to make specific statements as you did, perhaps you would like to use better research tools before looking like someone who doesn't know of that which they speak.

Furthermore, I guess your statement would have been more truthful if you were speaking about Seaside in 1982.

Bobby, I am very familiar with Freeport, but cannot place Stanley Rd. Where is that located?

Do you really take everything someone says so damn serious as to not recognize the larger point that is being made??? Sure it was a generalization that NONE of them have been bought by end users... perhaps it would be better for me to say a VERY SMALL percentage...

It is all besides the point that the RE people in Freeport have spouted out about all this growth within the next 2 years (4,000+ dwellings) for a town that currently supports a population of 1,200 people, according to the article...

All to get some uninformed people to buy some over inflated lots and houses so the developers and city can make some bucko bucks in the biggest RE bubble in history...

Notice you bring up Seaside in 1982... That is 24 years of growth...
The stats I am saying is the fact that they have planned 4,000+ properties in the span of 2 YEARS... slightly different timeframe...

I am not questioning the fact that Freeport will grow overtime... but to expect a town to grow 10-15 fold in a few years... thats a bit over the top.

I agree with your statement about end users not being ready to fill the 4000+ properties in Freeport in the short term, but I don't want to sit quietly by, as you make comments, which aren't truthful, about specific developments. People who are unfamiliar with the area, may take my silence to mean that your statements are true. I only get picky if I need to be. If you want to speak in general terms, go right ahead, but don't confuse people with your specific statements worked into your general thoughts.

BTW, the Seaside comment does apply. In 1982, the only history Seaside had was zero. It was a new development. The new developments located in Freeport also have zero history. It will take some time to fill these units, but 10 years from now, Freeport will resemble more of a town. If you are looking for an instant town, look elsewhere. The slower real estate market will quickly slow Freeport's growth too. However, Insurance, or the lack of, may push people up to Freeport, sooner rather than later.

 

[Kurt]

Freeport will be packed with retirees in golf carts soon enough. No reason to rush it.

 

[ShallowsNole]

I worked at the Seagrove Village Market 1982 - 1984, and we used to laaaaugh :funn: :rofl: at the goofy men in the long walking shorts who flocked in to start working on Seaside. The New Town. The Old Ways. What a hoot!

:shock:


Moral is...don't knock what you don't know...

 

[beachmouse]

I feel pretty confident that Owl's Head and Hammock Bay have the financial backing to built out over the long term. Some of the other developments, I'm not so sure about. And it's going to take a long time to build out everything currently on the table. Sandestin is 30 years old and still adding new homes. It took Bluewater Bay 25 years to effictively build out. Both of those areas had more selling points (Bluewater-commutability to good-paying base jobs; Sandestin-beach goodness) than what's planned for in Freeport does.

 

[Smiling JOe]

I feel pretty confident that Owl's Head and Hammock Bay have the financial backing to built out over the long term. Some of the other developments, I'm not so sure about. And it's going to take a long time to build out everything currently on the table. Sandestin is 30 years old and still adding new homes. It took Bluewater Bay 25 years to effictively build out. Both of those areas had more selling points (Bluewater-commutability to good-paying base jobs; Sandestin-beach goodness) than what's planned for in Freeport does.

I think it is called retirement, and it will take a long while for them to fill in.

 

[beachmouse]

Retirement home market in this state alone is very competitive, and Freeport is up against some pretty heavy players who are already further along in terms of development and infrastructure. I'm thinking of places like Flagler County and The Villages.

 

[turtle812]

Can someone give me some background info on Windswept Estates. I've been told that this development was originally planned ~14 years ago went bankrupt 3-4 times then was completely developed and sold off to builders and end-users.
-Is this true?
-When did they start selling lots and when did they completely sellout?
-I've seen a lot of empty lots out there. Are these investor lots,
future retiree lots, or builder's surplus?

Lastly, what are people's impressions of this development. Personally, I think that this development had a great idea but was poorly executed. Additionally the hurricanes of '05 definitely didn't help the situation. Thoughts?

 

[Smiling JOe]

Can someone give me some background info on Windswept Estates. I've been told that this development was originally planned ~14 years ago went bankrupt 3-4 times then was completely developed and sold off to builders and end-users.
-Is this true?
-When did they start selling lots and when did they completely sellout?
-I've seen a lot of empty lots out there. Are these investor lots,
future retiree lots, or builder's surplus?

Lastly, what are people's impressions of this development. Personally, I think that this development had a great idea but was poorly executed. Additionally the hurricanes of '05 definitely didn't help the situation. Thoughts?

Not True. Susan and her partner bought the property only a few years ago. They sold 360 of their 450, half acre + lots to builders and the remaining 90 lots were snatched up by friends of the developers and a few other lucky people, before ever hitting the open market. The builders couldn't build the houses fast enough so the developers bought some of the lots back from the builders and sold them to the public. I think the first lot sales were in 2004. They had plenty of buyers, and I had over 30 people on a waiting list to get one, and I had them registered 6 months before they released anything.

I am uncertain of the number of lots which the developer bought back and resold, and unaware of how many people who originally bought lots, actually built, so I cannot answer your next to last question. The builders are still building away.

Impression? a little boring at the moment. Only 4 builders were allowed to buy the original 360 lots, and it seems they took the easy way out by not buying many architectural plans. (same look, over and over and over.) That could change with time if people put in some landscaping. Right now, landscaping is either very new and young, or non-existant. I would like to see some bushes and trees lining the yards or sidewalks, or adding depth to the look of the house. Currently, most of the landscaping consists of grass.

 

[SHELLY]

Retirement home market in this state alone is very competitive, and Freeport is up against some pretty heavy players who are already further along in terms of development and infrastructure. I'm thinking of places like Flagler County and The Villages.

...North Carolina, Tennessee, Georgia....

 

[GoodWitch58]

Actually, I think the original development was 15-20 years ago...but it sat there for a long time and nothing was built until Susan et al, bought it from the original developers after his son died and their business was in trouble ...

right now there are many units for sale. I know two families who bought to live there; moved there, and now are selling because "it is too remote--no stores, no medical, no restaurants, shops, etc."

I agree that the builders skimped on the design--I liked the development better before they built the houses...those "sand dunes" on the golf course were nice.