Lots in Riversea Plantation? (Southport, St. James: real estate, HOA fees, how much)
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We would like to retire to coastal NC in about five years. We have visited the area only once so far, but several of the realtors keep emailing me saying what a cheap great deal RIVERSEA PLANTATION IS NOW. Pond lots for $10,000. I find this hard to believe when a pond lot in Ocean Ridge Plantation goes for much more than that - maybe around $90,000+. What gives? Is this community in hard times now (Mark Saunders situation?) Anyone know? Also, we like OCP and St. James, but are there any plantations that can give me a small pond or nature view, 1/3 acre - golf not necessary - for a home 2400 sq. feet that we can build 'custom?" I don't like the cookie cutter look.............thanks gang!
[font=Arial]We would like to retire to coastal NC in about five years. We have visited the area only once so far, but several of the realtors keep emailing me saying what a cheap great deal RIVERSEA PLANTATION IS NOW. Pond lots for $10,000.
I see that those lots are bank-owned. If you are interested, ask what it would cost you to carry that lot for 5 years. You would have to pay HOA fees and taxes on the lot, and that won't be such a bargain. I'd also want to walk the lot before buying to look for wet spots and drainage issues.
I also see from the aerial view that the development has a clubhouse, tennis courts and a pool. It is thinly developed except for one street. I think it's possible the development will revive as more baby-boomers reach retirement age.
OTOH, St James also has some nature view lots in the $60-80K range where you could certainly build a custom home with much less risk. Some of them are bank-owned. You have to judge your own tolerance for risk.
Last edited by goldenage1; 10-24-2012 at 02:23 PM..
I live in River Sea and yes, there are lots here for $10K+. The lot next to me is a forclosure and we are on a pond. Many of the lots in here were purchased as investment property. We have about 5 or 6 new homes being built right now.
thanks H2otstr! Are the amenities done in Riversea? Do the ponds get 'scummy' in the summer? if you wish to email me directly: njdouka@comcast.net - would love to know which street you are on so i can see this on google maps....I still find it hard to believe these lots are so much less money than Ocean Ridge Plantation or St. James. how much are the HOA fees?? Is your home custom??
My only concern about SJP is that their HOA's are expensive at $160 per month versus $80 per month for other plantations - and a lot of the other plantations are not in the flood plain like SJP. It is, however, the prettiest of all the plantations and they have the most amenities!
Simply replying to your only concern.... don't know where you got that information but our homeowners ( POA ) fee is $850 per year.... my calculator shows that to be $70.83 per month. In addition, 3/4 of SJP is not in any kind of flood plain and the other 1/4 never floods..... YET anyway.... and you are correct, it is the prettiest ( IMO ) and most definitely has the most amenities..... one more thing, it is in quite good shape financially, more so than any of the others... especially RiverSeas.
missnancy, he/she simply gave you incorrect data..... however, speaking of incorrect data I must now correct myself, the POA fee is not $850 per year as I posted earlier.... I thought it went up but it is indeed still $790 per year and consulting my calculator again that comes to $65.83 per month.... sorry for the misinformation..... but I was right about it being the prettiest and most amenities..... that's PART of why we are here.
Wow! that agent really gave us wrong information! He also told us there was an initial $15,000 fee (one time only) for the social clubs? Is this correct?
SJP is not simply a nice plantation of homes, it is indeed a very upscale community with an upscale country club atmosphere which includes all those amenities, restaurants, etc, there is a $15k initial fee like in most country clubs.... to get the true picture of that and any other fee structure I would suggest contacting SJP directly and they will send a package explaining everything in detail.... I would suggest that action at ANY plantation one is looking into.
PS: You will find similar "buy-ins" and fee structures at the other upscale communities that you mention, like Porters Neck and Ocean Ridge, etc.
Last edited by Stonecreek67; 10-30-2012 at 08:30 AM..
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