Freeport Real Estate - general discussion

SoWal Expert

Aug 18, '06 · 1:36 PM18,6141

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.

Replies

SoWal Insider

Apr 20, '07 · 12:05 AM#27

Shelly--

We manufacture gymnastics equipment, balance beams mainly. Yes, the site is www.thebeamstore.com Thanks for asking.

We sell mainly online, so we are free to finally pursue our dream of living by the beach. I hope warehouse space isn't too hard to find. I see they are putting things up at a good pace commercially around there.

Interesting...

I'm sure you've already considered the obvious problems dealing with wood (moving from a dry climate (OK) to a humid climate). And I'm assuming you won't be concerned about labor force availability. But then there is the added cost for a climate controlled warehouse environment, access to shipping and...of course...wind insurance gouging.

IMO, you'd be wise to concentrate on finding a suitable warehouse space first and foremost...and leave the house-hunting for later--especially if you are depending on your business income to support your living arrangement. There will be plenty of rentals available (especially after tourist season) and (again IM0) there is no need to rush into housing--especially in this market environment.

My 2-cents....it's worth what you've paid for it.

Best of Luck.

.

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Edited Apr 20, '07 · 12:09 AM

Beach Fanatic

Apr 20, '07 · 12:25 AM#28

There will be plenty of rentals available (especially after tourist season) and (again IM0) there is no need to rush into housing--especially in this market environment.

.

You hit the nail on the head. I think that is really the goal--find a rental in the area that we would eventually like to put roots and evaluate things.. But, yes affordable labor is a concern. I have seen the threads on that issue. Shipping, --no concern--FedEx is everywhere, and humidity is a non issue. Good thoughts and insights though. I saw your thread on your insurance too---yikes....that would be a plus to Oklahoma, although we had a tornado hit one block from our house two weeks ago...

For now, I will keep watching, learning and dreaming... At least I have a visit coming in August if not before.

SoWal ExpertAuthor

Apr 20, '07 · 6:58 AM#29

Warehouse space is a rare thing around here, although there are a few on Hwy 393 N, and one on Hwy 331, just north of Hwy 20. That warehouse will probably cost as much at the home for which you are searching. I think Shelly's point of finding the warehouse first, is a very good one.

Beach Fanatic

Apr 20, '07 · 8:39 AM#30

SJ---yes, I have found that it is rare. I did speak w/ someone a month or so ago, that was going to be putting up a new location of warehouse spaces. That is why I was looking in and around the Freeport area. But, w/ those prices for warehouse space I may find myself just visiting more. Thanks for your input, i value it.

Beach Fanatic

Apr 20, '07 · 9:23 AM#31

It's a hike to the beach from there, but the Mossy Head area might work. It's a little bit rednecky, but lots of 5-10 acre parcels of residential land, some commercial/industrial zoned areas since they're close to an I-10 interchange.

Also probably a little bit easier to find good employees at lower wages than you would closer to the beach. Lots of people that live north of I-10 and work down by the beach would love to find a nice job closer to home so they didn't have to commute 2+ hours every day.

Beach Fanatic

Apr 27, '07 · 7:50 PM#32

Just got this email from D.R. Horton in RE: to Hammock Bay, thought you guys might enjoy the price reductions... didn't look up the sq. ft, but should be easy to do if interested.

SoWal ExpertAuthor

Apr 27, '07 · 7:56 PM#33

As I mentioned in an earlier post, DR Horton is wanting to move these products prior to completing their new lower priced, different style houses which are under construction. I understand that they will be ditching the formica counter tops, vinyl flooring in bathrooms, and cheap looking fiber glass tubs, none of which are selling $420,000 houses. Their newer product will be one story (saving more costs) and probably be more nicely appointed, and priced at a similar price as these reduced prices.

SoWal Insider

Apr 27, '07 · 8:04 PM#34

I understand that they will be ditching the formica counter tops, vinyl flooring in bathrooms, and cheap looking fiber glass tubs, none of which are selling $420,000 houses.

In other words...Flipper Houses.

.

SoWal ExpertAuthor

Apr 27, '07 · 8:07 PM#35

In other words...Flipper Houses.

.

I like formica counter tops, vinyl bathroom floors and decent (these aren't all decent) fiberglass showers, but not when I'm paying $420K for a new house in Hammock Bay right now.

SoWal Insider

Apr 27, '07 · 8:12 PM#36

I like formica counter tops, vinyl bathroom floors and decent (these aren't all decent) fiberglass showers, but not when I'm paying $420K for a new house in Hammock Bay right now.

Apparently DR Horton hit a wall when it came time to put in the fixtures and went on the cheap just to get them finished and out on the lot.

420K is SS & GCT territory.

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Edited Apr 27, '07 · 8:13 PM

Beach Fanatic

Apr 28, '07 · 7:02 AM#37

Seriously folks no one is swarming for deals in Freeport are they?

Beach Lover

Apr 28, '07 · 7:15 AM#38

Seriously folks no one is swarming for deals in Freeport are they?

Not on these DR Horton houses. Seriously, my husband and I thought Hammock Bay sounded so nice (I think in the future it will be), and then we drove through there and couldn't get out of there fast enough after seeing some of the crap DR-H is building in there. There should really be a little bit for ARB control.
I've been in other Dr-H houses and they are okay, but I just really think they went WAY on the cheap in Hammock Bay and it shows.

SoWal ExpertAuthor

Apr 28, '07 · 7:36 AM#39

Fortunately, I think most of DR Horton's lots/homes are all in one neighborhood in Hammock Bay.

Beach Fanatic

Apr 28, '07 · 8:49 AM#40

The Turner Heritage model seemed pretty nice, with reasonably good materials. Unfortunately, Jay Odom's heart is in the right place, but his sense of taste runs to Cheez Whiz, and the cheesiness does seem to be in force in Hammock Bay.

As for the lack of people swarming to Freeport, prices are still too high for service industry folks working in SoWal. The white collar employees can find housing elsewhere (closer to their jobs) for similar prices. I'd hate to have to commute from Freeport to Destin or Panama City every day. You're a hike from the beach, and there just isn't really any reason to live in Freeport right now unless you own of the bay or bayou, work at the shipyard or are a service industry worker who bought pre-boom.

SoWal Insider

Apr 28, '07 · 2:06 PM#41

Not on these DR Horton houses. Seriously, my husband and I thought Hammock Bay sounded so nice (I think in the future it will be), and then we drove through there and couldn't get out of there fast enough after seeing some of the crap DR-H is building in there. There should really be a little bit for ARB control.
I've been in other Dr-H houses and they are okay, but I just really think they went WAY on the cheap in Hammock Bay and it shows.

Maybe then can market them as "Fixers"...a little GCT, SS, "Contractor Beige Paint" & Pergo and Voila'!! You can re-sell them at a $20,000 loss. :blink:

Beach Comber

May 3, '07 · 8:55 PM#42

A few weeks ago I went to a Freeport City Hall meeting and several plans were approved for medical manufacturing warehouses, a medical clinic, a grocery store and even a retirement community. All of them will be located along the expansion route. I was very impressed with the way Freeport is heading. Although it is far from happening those types of high paying jobs will help support a strong local economy. Some of those 4000+ units may be absorbed and then it will not lay entirely on retires. It will also be a plus for retires that do move in.

Beach Fanatic

May 11, '07 · 9:01 AM#43

windswept estates has some incredible prices going for lots and houses...if you like living in a golf course community:clap_1: ...i wonder how much longer that will last?

SoWal ExpertAuthor

May 11, '07 · 9:56 AM#44

I saw a home sold in there a couple of days ago at under $300K. It was something like 2600sf with a two car garage, in a gated community with golf course, swimming pool and tennis courts.

Beach Fanatic

May 11, '07 · 8:48 PM#45

What happened to Riverwalk?

SoWal ExpertAuthor

May 11, '07 · 8:51 PM#46

What happened to Riverwalk?

I understand that it is in a holding pattern and the owner still plans to develope it.

SoWal Insider

May 11, '07 · 11:10 PM#47

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.

FYI...The Villages is more than 50 percent to buildout.

Beach Fanatic

May 12, '07 · 12:57 AM#48

I have a lot in Hammock Bay that I would sell for the loan value. Other things are more important to me.

DR Horton is building a house next to my lot and I could not believe the price he was asking, and it was not on that advertisement. The house will never sell for what he wants.

i would also be interested in a "partnership" with a builder to put a home priced between 275-299K on the property.

If anyone is intersted, please pm me.

Thanx

Beach Lover

May 14, '07 · 6:04 PM#49

I saw a home sold in there a couple of days ago at under $300K. It was something like 2600sf with a two car garage, in a gated community with golf course, swimming pool and tennis courts.

That is something. That makes the second sale this year in Windswept Estates under $300K, the other was actually on the 8th hole. I just played golf out there yesterday and the pool and tennis area is completed. There was nobody out there playing golf - I really like the course, not sure if it was dead because of Mother's Day or if the summer slow down is upon us. When I played in March the place was loaded with snowbirds taking advantage of reduced green fees.