living at winding river? (Wilmington, Magnolia: for sale, real estate market, foreclosures)

[beach lover 2]

We own a lot at winding river, and wonder how it is to live there,pros and cons,and if you could move where would you move to in Wilmington area? Thanks!

[goldenage1]

Originally Posted by beach lover 2

We own a lot at winding river, and wonder how it is to live there,pros and cons,and if you could move where would you move to in Wilmington area? Thanks!

There are lots of homes and lots for sale in Winding River. Is there a reason so many people are selling? Zillow shows that there are 44 homes for sale, and only 2 sold recently.

FWIW, there don't seem to be any WR residents posting in this forum.

[mikedolan]

Regarding your WR post. We have been here 8 years and it is the closest to paradise that we have ever encountered. The community is well kept and the volunteers are tremendous. It is a very caring and giving community with outstanding support for its members. The amenities as you must know are fantastic and very well maintained. The committees are headed up by some very talented people.

We have had some foreclosures on lots and houses and it presents great buys. My son just bought a lot yesterday for $15,000. It is a third of an acre on a nice cul de sac and someone paid $125,000 for the same lot back in 2006. When the national economy and national real estate market recover we will be one of the first to be part of it because all our amenities are in place, are well maintained and we have reserves established for future replacement.

[goldenage1]

Originally Posted by mikedolan

My son just bought a lot yesterday for $15,000.

Is the a time limit on when you have to build? If not, the lot could be a great investment. What are the POA fees when one owns only a lot?

[marc515]

Originally Posted by mikedolan

Regarding your WR post. We have been here 8 years and it is the closest to paradise that we have ever encountered. The community is well kept and the volunteers are tremendous. It is a very caring and giving community with outstanding support for its members. The amenities as you must know are fantastic and very well maintained. The committees are headed up by some very talented people.

We have had some foreclosures on lots and houses and it presents great buys. My son just bought a lot yesterday for $15,000. It is a third of an acre on a nice cul de sac and someone paid $125,000 for the same lot back in 2006. When the national economy and national real estate market recover we will be one of the first to be part of it because all our amenities are in place, are well maintained and we have reserves established for future replacement.

Wow, he got a heck of a buy there. I just looked on the WR web site, and there's one lot for $49K, and they go up from there.

[beach lover 2]

Originally Posted by goldenage1

Is the a time limit on when you have to build? If not, the lot could be a great investment. What are the POA fees when one owns only a lot?

The POA fees on our lot is about a thousand dollars,there is not time limit on building,we would rather not go through the hassle of building,just buying an exisiting home

[goldenage1]

Originally Posted by beach lover 2

we would rather not go through the hassle of building,just buying an exisiting home

There are some good buys in existing houses out there, as prices have dropped a lot since the peak. Even in St. James Plantation, there are places under $400K. My brother-in-law also reports lower prices in Magnolia Greens.

[marc515]

Originally Posted by beach lover 2

The POA fees on our lot is about a thousand dollars,there is not time limit on building,we would rather not go through the hassle of building,just buying an exisiting home

POA fees are $1K; isn't that high for a lot? What are he fees on a home? Winding River sounds expensive

[Stonecreek67]

I imagine it's the same at most of the plantations.... the POA for our empty lot in St James are $795 per year.... empty lot or lot with a house is the same fee.

[marc515]

Originally Posted by Stonecreek67

I imagine it's the same at most of the plantations.... the POA for our empty lot in St James are $795 per year.... empty lot or lot with a house is the same fee.

Thanks Stoney, I wasn't sure if the POA on a lot was the same as a home.