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Old 04-19-2013, 10:44 AM
 
Location: Sneads Ferry, NC
11,261 posts, read 19,805,802 times
Reputation: 5089

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I hope this is a positive development for the Summerhouse on Everett Bay development. They are now sending out fliers that their model homes are open for weekend viewings from 12-5 on Saturday and Sunday.

The two models I can see on Zillow are priced about $330,000 and $369,900. They are both tall Southern beach-style homes with viewing decks and 1st floor garages. When I visited the community last year, the amenities are complete and they are gorgeous. The community has had a slow start. As far as I know they are requiring you to use an approved builder, or submit your custom plan for approval. They want you to conform to their architectural vision for the community.

The two issues I see with the community are 1) the number of lots in foreclosure, and 2) the location in Holly Ridge. The location is beautiful, but it is fairly isolated and Holly Ridge does not have much to offer.

I think the location might work best for a working family which wants to use it as a weekend get-away home. However, the location is only 11 mile from the back gate of Camp Lejeune, so it's feasible for a family with a higher budget.

BTW, the flier does tell you to read the Federal Property Report before signing anything. I do know the community has a private sewer system on the north edge of the development, and you can probably hear or smell the system at work.
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Old 05-24-2013, 01:43 PM
 
1 posts, read 5,963 times
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the sewer system is pretty well contained. building is really picking up and it seems isolated but it really isnt. Its 5 minutes to Sneads Ferry, topsail beach, surf city. there is a lot of commercial development in the works. Holly Ridge will rise up. and the development has some nice amenities. I think people dont think outside the box. I own a lot in there and the location is superb for a coastal community
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Old 08-16-2013, 10:07 AM
 
1 posts, read 5,709 times
Reputation: 11
Stay away from this ghost town. It's a mess.
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Old 08-16-2013, 10:53 AM
 
Location: Sneads Ferry, NC
11,261 posts, read 19,805,802 times
Reputation: 5089
Quote:
Originally Posted by baxx63 View Post
Stay away from this ghost town. It's a mess.
Did you visit there recently?
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Old 09-02-2013, 09:11 PM
 
Location: NC
128 posts, read 432,860 times
Reputation: 104
The new construction home in Summerhouse is only 2,500 sq ft and is listed for $359,900 which is way too high considering what lots are selling for. Besides, the market for $300,000+ homes in Holly Ridge is practically non existent. A few years ago I predicted this subdivision would eventually go to the tract house builders and I still believe that. The lots are still less than $20,000 five years into the foreclosure purge and there are less than a half dozen homes in this 1,200 lot subdivision. Meanwhile, the rest of Onslow County is a boom town of new construction because they are building affordable homes which are desirable in the area. When the POA relaxes the obsolete architectural requirements Summerhouse will take off. If they don't the subdivision will sit dormant until there's a market for high end homes in Holly Ridge which is probably decades away. Now you have the added pressure of dozens of new investment purchasers buying up all the cheap foreclosure lots who will expect their lot values to increase. That doesn't happen until demand increases, which means building homes that buyers will actually purchase.

It's certainly interesting to watch. Summerhouse and Cannon's Gate are still the most famous of the bubble bust subdivisions.
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Old 09-02-2013, 09:22 PM
 
Location: Sneads Ferry, NC
11,261 posts, read 19,805,802 times
Reputation: 5089
Quote:
Originally Posted by CarolinaAppraiser View Post
Meanwhile, the rest of Onslow County is a boom town of new construction because they are building affordable homes which are desirable in the area. When the POA relaxes the obsolete architectural requirements Summerhouse will take off. If they don't the subdivision will sit dormant until there's a market for high end homes in Holly Ridge which is probably decades away.
Agreed. You can purchase a 2500 SF house in Mimosa Bay for about $260K, and they are selling before they are finished. The 3-car garage models are especially popular for people who have boats or need extra storage.
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Old 10-25-2013, 01:26 PM
 
Location: NC
128 posts, read 432,860 times
Reputation: 104
There are now two new construction homes in Summerhouse listed under $300,000 and I predict by the spring you'll be able to get a new home for under $250,000 which is less than what the average lake front lot sold for when this subdivision was first developed.
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Old 10-26-2013, 09:03 AM
 
Location: Sneads Ferry, NC
11,261 posts, read 19,805,802 times
Reputation: 5089
Quote:
Originally Posted by CarolinaAppraiser View Post
There are now two new construction homes in Summerhouse listed under $300,000 and I predict by the spring you'll be able to get a new home for under $250,000 which is less than what the average lake front lot sold for when this subdivision was first developed.
This is a good trend. The houses are at 103 and 314 Spicer Lake Drive. They are raised beach cottages with 2400-2600 square feet. I agree the range of $250K is much more like what people will pay for Holly Ridge.
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Old 06-13-2014, 12:51 PM
 
1 posts, read 4,524 times
Reputation: 10
Default Picking up!

Just found this blog and seems like Summerhouse is a big topic! I was at Summerhouse recently and it is really picking up! Looks like a good time for people to start checking it out again. Looks like 8-9 homes are up and a few more being built. After speaking to people on site they are trying to clear up the confusion between the developer and the development. The HOA is doing great and the development seems to be also. The developer had a lawsuit against him which many people are confusing with the development... Either way, seems to be doing a lot better.
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Old 08-06-2014, 03:16 PM
 
1 posts, read 4,129 times
Reputation: 10
Looked at this place on the web - sounds nice but I'm not 100% sold. Has building picked up anymore? More people bought existing properties? Also out of curiosity, who manages the HOA? Have a ridiculous one now. Not trying to make the same mistake. Just curious before I decide to drive several hours.
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