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Old 07-18-2009, 09:20 PM
 
1 posts, read 5,578 times
Reputation: 10

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If anyone is on the Crystal Coast this weekend and would like some good facts about Cannonsgate, I will be on site from 2:30 to 5:00 Sunday, July 19th. Please stop by and I will be glad to answer your questions to the best of may ability and provide you information.

Having lived in Carteret County for the past 20 years (the last 10 just 5 minutes away from Cannonsgate), in my opinion, the community is a unique develpment. to this county. For one, this community offers deep water access to the Intracoastal Wateray, which in itself is a rare find), has its own marina, clubhouse (the Manor House), swimming pool, tennis courts, walking trails and more, and lies between the coastal towns of Beaufort, Morehead City, Swansboro.

I am in agreement with DSabotta in my understanding of the development. it is sound. All verticals are complete and owned by the HOA. It may take a few years and some "pioneers" to recognize its potential but I believe it will be a star in this area.
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Old 07-19-2009, 04:30 AM
 
Location: Morehead City, NC
1,676 posts, read 5,354,974 times
Reputation: 1244
Are you a real estate broker?
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Old 07-19-2009, 02:41 PM
 
3 posts, read 13,367 times
Reputation: 11
I have a relatively simple question - can the waterfront lots have docks?
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Old 07-19-2009, 04:01 PM
 
Location: Cape Carteret, NC
713 posts, read 3,471,139 times
Reputation: 543
Smile Simple answer

My understanding is that the waterfront lots CANNOT have docks.
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Old 07-20-2009, 04:56 AM
 
Location: Cape Carteret, NC
13 posts, read 41,349 times
Reputation: 16
Smile Canonsgate

Good post, Alison...to continue:
Cannonsgate is currently financially sound , with all amenities having been completed and deeded to the HOA DEBT-FREE. Also , the HOA has a solid bank account balance. There are some homeowners in arrears on dues , and the HOA has a collection policy in effect to deal with that. When lots are foreclosed on and banks take posession, then the bank has to pay the HOA dues. There is very little developer ownership (if any) currently with all lots being owned by individuals,who intend to live here, or investors, or banks, in the case of foreclosed properties.
There is one house nearing completion and a few great opportunities to buy property in Cannonsgate at a very good price right now, due to short sales and foreclosures. This situation is not unique to Cannonsgate due to the state of the economy in general.
The state of the art, award- winning sewer system was built with coastal ecology and water quality issues in mind.
Some of the property is in a flood plain, as any waterfront, soundfront property would be.
Docks are not allowed on individual soundfront lots so as to preserve the coastal beauty of the development.
All homeownres do have access to the Intracoastal Waterway via a boat launch at the marina. Boat storage area is available to store boats in community..not allowed to be in driveway.
Lots are small, density of the development is high, with the design reminiscent of old Charleston, tall , "skinny" houses, close together. Charleston architecture is required with architectural review committee approval required. Some lots nearer the highway are a little larger with Low Country styled home designs required.
The Clubhouse is functional with plumbing and pool which is currenty available and being used by local homeowners.
Attached Thumbnails
Emerald Isle- Cannonsgate-dsc03036.jpg   Emerald Isle- Cannonsgate-dsc03040.jpg   Emerald Isle- Cannonsgate-clubhouse-pool.jpg   Emerald Isle- Cannonsgate-dsc02174.jpg   Emerald Isle- Cannonsgate-boat-launch.jpg  

Emerald Isle- Cannonsgate-dsc02199.jpg   Emerald Isle- Cannonsgate-dsc02220.jpg   Emerald Isle- Cannonsgate-marinatree.jpg  
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Old 07-21-2009, 01:50 PM
 
Location: Jacksonville
160 posts, read 699,279 times
Reputation: 105
A waterway lot sold in there recently for $200,000. It's not a super bargain price but it's not a bad deal if the HOA holds up.
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Old 07-21-2009, 02:53 PM
 
Location: Morehead City, NC
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There are numerous waterfront opportunities all up and down the NC coast line-The Inner Banks-That offer so much more for so much less without any legal concerns.
Bill
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Old 07-21-2009, 05:00 PM
 
Location: Jacksonville
160 posts, read 699,279 times
Reputation: 105
I tend to agree. Any purchase in that subdivision is going to be very risky. I still have my doubts about the HOA surviving. The only way to guarantee collection of past due HOA fees is to put a lien on the delinquent property and I'm not even sure that will guarantee payment if the property goes into foreclosure.
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Old 07-21-2009, 07:10 PM
 
Location: Cape Carteret, NC
13 posts, read 41,349 times
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The waterfront lot actually sold for $175,000, not a bad price at all for soundfront.
A lien on property with foreclosure requires the bank to pay dues.
Where is that property that offers "so much more for so much less?"
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Old 07-22-2009, 04:11 AM
 
Location: Morehead City, NC
1,676 posts, read 5,354,974 times
Reputation: 1244
sgoines-You are a Realtor in Carteret County. Your company lists properties at Cannonsgate. I don't know if you belong to any other Realtor associations besides the Crystal Coast board or what your scope/sphere of real estate is. But if you ever get the opportunity to look at what the entire North Carolina coastline has to offer-Both Outer and Inner Banks-You'll discover Cannonsgate is one of the most expensive.
If someone is flexible with the "where" along the NC coast, then that $175,000 you made mention of could buy several waterfront lots.
Bill
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