Emerald Isle- Cannonsgate (Bogue: houses, purchaser, construction)

[ei_beachhouse]

I have not been down to EI in quite some time. Just wondering how the Cannonsgate plan is coming along? Any news on when this plan should be filing up and what are lot prices doing? Good buy/bad buy? Also, I own a summer home on the island and have been called recently by someone who is selling due to relocation. I'm strongly considering crunching the numbers. Anyone have any thoughts on property in both Cannonsgate and/or EI at the moment?

[dsobotta]

Originally Posted by ei_beachhouse

I have not been down to EI in quite some time. Just wondering how the Cannonsgate plan is coming along? Any news on when this plan should be filing up and what are lot prices doing? Good buy/bad buy? Also, I own a summer home on the island and have been called recently by someone who is selling due to relocation. I'm strongly considering crunching the numbers. Anyone have any thoughts on property in both Cannonsgate and/or EI at the moment?

All the roads and infrastructure are done in Cannonsgate.

The date which is going to be used to calculate when homes must be in place due to the covenants was set, and original owners will need a home in place by Nov. 1, 2012 and other purchasers will need a home in place by Nov. 1, 2013.

Construction on the Post Office and the Clubhouse should be finished by early spring.

There are a number of owners in Cannonsgate who are looking to sell now that the special financing is running out.

Properties on Emerald Isle are still not selling as well as mainland properties.

I took some photos down near the marina recently. As you can see the marina area is gorgeous.

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PS- Here is a sunset shot that I snapped a few days ago on my way out of Cannonsgate.

[ei_beachhouse]

Dave,

Thanks for the update on Cannonsgate. The pictures are fantastic and the marina looks every bit as nice as they said it would prior to construction.

Do you mean (from your post) that anyone that owns a lot MUST build a house by 2012 or 2013? I had not heard that.

You state your company is taking over the office. What happened to the original marketing company?

Thanks again!

[dsobotta]

Originally Posted by ei_beachhouse

Dave,

Thanks for the update on Cannonsgate. The pictures are fantastic and the marina looks every bit as nice as they said it would prior to construction.

Do you mean (from your post) that anyone that owns a lot MUST build a house by 2012 or 2013? I had not heard that.

You state your company is taking over the office. What happened to the original marketing company?

Thanks again!

The covenants state houses must be built by those dates.

The marketing company has gone on to their next development.

I believe that is what they normally do.

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I cannot seem to find my most recent shot of the clubhouse, but here is one of the post office building taken last week.

[ei_beachhouse]

Dave,

Thanks yet again. I'd certainly appreciate any pictures you can come up with. This place looks great. Any thoughts on what the lots are going for (low end)?

Thanks Much!

[dsobotta]

Originally Posted by ei_beachhouse

Dave,

Thanks yet again. I'd certainly appreciate any pictures you can come up with. This place looks great. Any thoughts on what the lots are going for (low end)?

Thanks Much!

There are fifteen Cannonsgate lots in MLS that are priced less than $200K. The least expensive one is $150K.

Usually you get the best deal on a lot if you work with one of the builders who all bought a few lots.

Every home that is going to be built at Cannonsgate has to go through a digital architectural review.

From what I have heard the process is complex enough that the easiest way to get a home approved for construction is to use one of the recommended builders.

I suspect that is what most people will do.

I'll do some more pictures today or tomorrow.

-David

[dsobotta]

Originally Posted by dsobotta

There are fifteen Cannonsgate lots in MLS that are priced less than $200K. The least expensive one is $150K.

Usually you get the best deal on a lot if you work with one of the builders who all bought a few lots.

Every home that is going to be built at Cannonsgate has to go through a digital architectural review.

From what I have heard the process is complex enough that the easiest way to get a home approved for construction is to use one of the recommended builders.

I suspect that is what most people will do.

I'll do some more pictures today or tomorrow.

-David

Here are a couple of pictures that I took yesterday. The first is the Cannonsgate Clubhouse under construction.

The second is sunset on Bogue Sound from the point where the channel to the Cannonsgate marina connects with the sound.

[ei_beachhouse]

Dave,

The pictures are great. I hope you'll keep us updated with more as progress continues.

Thanks again!

[dsobotta]

Originally Posted by ei_beachhouse

Dave,

The pictures are great. I hope you'll keep us updated with more as progress continues.

Thanks again!

I'll be certain to keep posting pictures as house construction begins after the first of the year and as the Clubhouse get finished.

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[sgpine]

It's good to see everything coming along nicely at Cannonsgate.

I work with a guy who owns several lots in the development, and I drove down there in October to take some pictures, just after the roads have been put in.

I also put a video together which we have up at: http://flycpg.com/images/Cannonsgate...view_BIG-1.wmv
(WARNING - 45 MB Movie file)

The progress on the clubhouse looks good. Should be an exciting year next year as the houses start going in!

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