Greenbriar Oceanaire, Waretown (Barnegat: sales, real estate market, loft)

[JERSEY MAN]

My wife and I went to the almost new development of Greenbriar in Waretown yesterday. Due to the downturn in the real estate market they are selling homes for up to 100,000 off. You can buy a 3,000 ft. house for 329K, brand new on a 65 by 125 lot. I received many brochures on the homes, and we stopped by the clubhouse and it was beautiful. Its 38,000 feet and I was told by a sales associate that it is the largest in NJ.

She also claimed the taxes were appro. 4,500 and the monthly fees are 175 per month. They have indoor and outside pools and a new 18 hole course on site. Is this to good to be true and I was wondering if someone on the forum delt with Lennar Homes. Its two miles from Barnegat Bay and 15-20 minutes to Long Beach Island. Any negative and positive feedback welcome as we are getting close to our retirement time. We would preferably like to stay in state because our extended family would be close by. We are excited because we didn't think these kind of deals existed in NJ. Thank You.

[judogl44]

There were many problems with the homes in Greenbriar as far as heating/cooling systems. They installed inadequate systems and monthly bills for heat were in the $700-$800 range as well as a/c costs were thru the roof.

Many residents were affected and Greenbriar was slow to take action-matter of fact they denied the problems.

Be very careful in your dealings with them and speak to longtime residents.

Also that price is for a bare bones home-I personally know of people who spent up to $500K there. Waretown/Barnegat have very high taxes and offer no amenities.

[MPBsr]

My wife and I with friends have been down there a number of times looking.

First. let me say that we've been looking for about 3 years with a 5 year plan...2 more to go.

Without a doubt, this is the place where we want to buy within 2 years. Friends of ours are looking to move there next summer.

We feel in love with the Southwind model and that's the one for us. Believe it or not, we were told a few "back to back" locations for $295,000 and yes taxes are very reasonable and so are the monthly maintenance of $175.

They have planned for 1400 homes with 800 sold so far. So with the housing market the way it is, and will be for the next 2 years, they won't sell out by the time we're ready. Actually, I'm ready now, but we still have 2 adults kids home and have informed them of our 5 year plan. So in 2 you're out or you're out.

When did they quote you $329 for a 3000 sq? The Southwind is about 2000 sq and on paper they wanted $331 about 1 month ago.
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The poster above me is wrong. These homes that were sold in the last few years are loaded with upgrades. As a matter of fact, there are no upgrades to purchase. The price you see is the price you pay.

As far as taxes, go back and right down a few existing addresses and plug them into

NJ Tax Records Search

Taxes are very reasonable in this development. As far as amenities, this place is a resort community, plus they are building a new shopping center on Route 9 north.

We also met with someone that we know from a friend who's been there for at least 5 years. He and his wife love the place.

[JERSEY MAN]

MPB, Thanks we were there yesterday and they gave us a list of ten homes that ranged from 309 to 339 WITH all the options. They had 3 Chesapeke models that are 3,000 ft. for 329 to 339. I hope they corrected the problems with the heat and AC as 700-800 a month is a bit to much. Were debating whether to buy at 329K one posts says people were paying 500K. I guess if they did pay that much they do not feel to good now because I have a list of homes with all the homes on it from 309-339. If people paid 500K 2 years ago they probably made a ton of money from the house they sold. I was impressed with the layout and like you said they are only halfway thru developing. One concern is the 175 a month for the maintenance, maybe 3 years from now it will be 500 or 600. I don't know if that fee is controlled or any thing goes.

[MPBsr]

Originally Posted by JERSEY MAN

MPB, Thanks we were there yesterday and they gave us a list of ten homes that ranged from 309 to 339 WITH all the options. They had 3 Chesapeke models that are 3,000 ft. for 329 to 339. I hope they corrected the problems with the heat and AC as 700-800 a month is a bit to much. Were debating whether to buy at 329K one posts says people were paying 500K. I guess if they did pay that much they do not feel to good now because I have a list of homes with all the homes on it from 309-339. If people paid 500K 2 years ago they probably made a ton of money from the house they sold. I was impressed with the layout and like you said they are only halfway thru developing. One concern is the 175 a month for the maintenance, maybe 3 years from now it will be 500 or 600. I don't know if that fee is controlled or any thing goes.

Highly doubt the fee will go that high. Our only concern will be getting a decent tee time when they are fully sold out.

And yes, there are a number of resales now that are very high. These people will never see that price, plus there are a few at $300 and we've looked at them.

I'll send you the link in a PM for the resales. You can get a good idea of prices and taxes. Unfort, some that did buy at the peak are now looking to sell.

[MPBsr]

Jerseyman

There is also a resale for $299 (Augusta model) on the 10th hole tee box. It is an older home (2001), with a good location.

Unfort, that's when there were upgrades and this home is basic.

[JERSEY MAN]

Thanks for the links to resales. I guess its time to do some home work. With the market in a freefall I wonder if I should wait it out. Why would anyone buy the resales at a ridiciously inflated price when you could by brand spanking new for up to 200,000 less than what they are asking for. The Southwinds model that you were talking about, I went to the one that was on the list and they had a walkout basement included seemed like a nice buy at 309 and it seemed to be about a month away from completion.

[MPBsr]

Originally Posted by JERSEY MAN

Thanks for the links to resales. I guess its time to do some home work. With the market in a freefall I wonder if I should wait it out. Why would anyone buy the resales at a ridiciously inflated price when you could by brand spanking new for up to 200,000 less than what they are asking for. The Southwinds model that you were talking about, I went to the one that was on the list and they had a walkout basement included seemed like a nice buy at 309 and it seemed to be about a month away from completion.

The beauty of it, we don't want a loft or walkout basement. Just a ranch like we have now. Which will keep the price down. The Southwind model home is on a perfect lot. Backs up to the 7th hole with a great view.

Just curious, I'm guessing the walkout basement backed up to a wooded lot? My wife would prefer a golf view lot or back-to-back. Doesn't care for the woods behind her.

If by chance you liked that model and location and can buy now, offer them a lower price.

[JERSEY MAN]

Originally Posted by MPBsr

The beauty of it, we don't want a loft or walkout basement. Just a ranch like we have now. Which will keep the price down. The Southwind model home is on a perfect lot. Backs up to the 7th hole with a great view.

Just curious, I'm guessing the walkout basement backed up to a wooded lot? My wife would prefer a golf view lot or back-to-back. Doesn't care for the woods behind her.

If by chance you liked that model and location and can buy now, offer them a lower price.

MPB, Yes it was on a lot that had a slope towards the back with woods in the rear. It looked beautiful. Isn't it ironic when you look at the resale list that people are asking 599K for a house that I could walk into the office today and pay 329K for a brand new one. If I'm doing my math correctly that is 270K cheaper. Doesn't the realtor tell them the house WILL NEVER SELL. LOL

[MPBsr]

Originally Posted by JERSEY MAN

MPB, Yes it was on a lot that had a slope towards the back with woods in the rear. It looked beautiful. Isn't it ironic when you look at the resale list that people are asking 599K for a house that I could walk into the office today and pay 329K for a brand new one. If I'm doing my math correctly that is 270K cheaper. Doesn't the realtor tell them the house WILL NEVER SELL. LOL

Good chance we're going back tomorrow...just to look again.

Guess the realtor is hoping that they do sell. Unfort, the price will have to come down alot because for the most part, after 2003 or 4 there were no upgrades allowed. The homes came upgraded