Nocatee - Future appreciation (St. Augustine, Lantana: HOA fees, houses, neighborhoods)

[kort677]

Originally Posted by riveree

I was thinking the same thing, kort677 - 25 years is a long time and that's only the estimate.

I had also been told that many of the surrounding communities that were built in proximity during the last few years will get "absorbed" and be considered 'Nocatee" as well. I'm not sure if this is a benefit to future buyers (will those older communities also pay CDD's?). This information was told to me while shopping the communities a few years back...the realtors thought it was a selling point...it sent us running.

Some of Nocatee will be open to the general public as Julington Creek Plantation is. I know the Nocatee water park plans to be open to all for an admission fee. The whole Nocatee idea sounds like a big ball of unknowns to me.

A little anecdote about "unknowns":

A couple of years ago I was looking at houses in Highland Glen, off Beach Blvd. I loved the house plans, the total association fee was something like $80/month (for a gated community! Not bad!), they had plans for a "meditation park" with a labyrinth I think (ooohhh! I'm such a sucker for groovy stuff like this!). I revisited it about a year ago and followed the signs to the meditation park...it was a short strip about 8 feet wide alongside someone's driveway! Hardly a "park"!

never believe a word any real estate salesman or developer ever says, they are right up there with car salesmen, insurance salesmen, gubbiment types, lawyers and politicians as being full if you know what

[sugarbeet]

You should not bank on appreciation when choosing a home or community. There are no guarantees - homes are not FDIC insured! Your choice should be based on a home and location you like at a price you can afford.

[riveree]

We have a friend that recently closed on a house in a similar large development, Bartram Springs. His house cost $450k, and no sooner did he close that he found out the home was now worth $40k less than what he paid for it.

He can laugh about it because he knows he is in it for the long haul and he's happy with his home selection. Still, even for him, it is a little unnerving to think that if he were forced to sell anytime soon he could be walking away in the red.

[grayrunner]

I wouldn't touch Nocatee at that price and assocation fees.. Plus the road is a dark death trap going to the beach. Second, you can find good buys
much closer to the ocean, and therein lies your appreciation. The closer to the beach the appreciation is in the location, not the building.

There are townhouses on the EAST side of A1A almost right on the ocean where I could buy a 3 br for less than 230k.

[MortgageGuru]

Originally Posted by kort677

from what I've read about the nocatee development plan is that plan calls for development over 25 years. That means that you'll be living in or near a construction zone for a long time and if and when you need to sell your resale will be competing against a constant supply of new homes.
Another issue is that the area is planned on being a "high end" development, where are all these "high end" people coming from?

I bought a home in the Coastal Oaks At Nocatee section of this amazing town in the making. The price that I paid is in the high 600k level and I assure you that it represents a great value compared to the Fairfield County area of Connecticut where I currently live.

I own a mortgage brokerage business so I see the buyers who struggle to handle the higher prices associated with great communities. Also being an experienced real estate agent, I believe that the concept of this new town is unlike anything that Florida has seen. To call it a development or community does not do it justice.

My opinion is that no one should be looking at buying real estate to flip in a year or two unless it involves rehab/rebuild/transform type projects. You cannot resell or lease a Nocatee home for a minimum of one year after closing on it. This will hopefully discourage real estate "flippers".

I am convinced that Jacksonville, already a beautiful, thriving city, will benefit even more from the thousands of residents who will buy in Nocatee (now named Ponte Vedra) and spend their money in city establishments. The baby boomers are shopping for "retirement" homes in the Southern Atlantic seaboard area and they will bring their money to Jacksonville in increasing numbers for sure.

I will gladly use my expertise and experience to help folks by responding to posts on this forum. I find the dialog to be civil and helpful. Keep it going.

Jacksonville ... here I come!

[riveree]

$600-700k and it DOESN'T need rehabbing?! It IS quite a change from Connecticut, huh?

We've never had anything quite as big as Nocatee here before, so it will be interesting to watch it develop. Good for you that you got in early and it's what you want.

I think for some of us, we've become a bit jaded to the idea of the "planned communites" because we've had them here for a while. Julington Creek is an example. Julington Creek obviously "works" on many levels and lots of people love it but there are also people that are not impressed with the concept...but the "New Urbanism" debate would be a thread of its' own.

I agree, Jacksonville & St. Augustine have been "discovered" and we'll have a lot of Northerners moving to the First Coast. Really, they've been coming here all along...but quietly...sneaking in...I'm one !

Yes, bring your money, bring real pizza, bagels, lox, bialeys, knish, etc....just don't bring your higher property taxes, agreed?

Welcome to Jax!

[kort677]

Originally Posted by MortgageGuru

I bought a home in the Coastal Oaks At Nocatee section of this amazing town in the making. The price that I paid is in the high 600k level and I assure you that it represents a great value compared to the Fairfield County area of Connecticut where I currently live.

I own a mortgage brokerage business so I see the buyers who struggle to handle the higher prices associated with great communities. Also being an experienced real estate agent, I believe that the concept of this new town is unlike anything that Florida has seen. To call it a development or community does not do it justice.

My opinion is that no one should be looking at buying real estate to flip in a year or two unless it involves rehab/rebuild/transform type projects. You cannot resell or lease a Nocatee home for a minimum of one year after closing on it. This will hopefully discourage real estate "flippers".

I am convinced that Jacksonville, already a beautiful, thriving city, will benefit even more from the thousands of residents who will buy in Nocatee (now named Ponte Vedra) and spend their money in city establishments. The baby boomers are shopping for "retirement" homes in the Southern Atlantic seaboard area and they will bring their money to Jacksonville in increasing numbers for sure.

I will gladly use my expertise and experience to help folks by responding to posts on this forum. I find the dialog to be civil and helpful. Keep it going.

Jacksonville ... here I come!

what a load!

[kort677]

Originally Posted by riveree

Yes, bring your money, bring real pizza, bagels, lox, bialeys, knish, etc....just don't bring your higher property taxes, agreed?

Welcome to Jax!

where are you at?? property taxes in Ponte vedra are amost as bad as what I pay on my NJ house

[riveree]

Originally Posted by kort677

what a load!

Do you think? I wasn't positive, so I was giving the benefit of the doubt...ah well!

[riveree]

Originally Posted by kort677

where are you at?? property taxes in Ponte vedra are amost as bad as what I pay on my NJ house

As bad as in NJ? Really? I'm suprised. I know Ponte Vedra is more expensive overall (housing), but I didn't think anyone was paying $8000, $10,000, and more per year (prop tax) in Ponte Vedra unless it was a really upscale home.

I'm over the ditch and a bit north of you (Intracoastal West), so slightly different millage...but still. You must have some nice digs if you're paying NJ amounts of tax Kort677!