Thoughts or information on St James Plantation (reassessment, properties)
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Crazy question but maybe not. This past weekend while sitting on the beach up here in NJ We were sitting with the usual 6 couples we sit with every weekend and I was telling them how itchy we are to leave NJ and head down to SJP or Winding River, or Ocean Ridge Plantation. I have been trying to convince them to make a similar move for past 5-6 years. One of the couples asked us a question I really couldn't answer but thought i would ask the group. The question was one couple thought there appeared to be a lot of homes for sale in St James that are fairly new, not counting the spec homes by the builders. Indication was that a lot of people made the move there but it really didn't turn out to be as great as advertised. I just let the comment go but was wondering if the group had any insights . I think theres something like 145 resales on the market. Just wondering if anyone sees a trend or is this normal with a large community???
thanks
If you are definitely speaking 'resales' then the other comments would apply.....but I know for a fact a lot of these homes are built by the builders themselves in any community such as SJP, etc. and it is the builder selling them. Resales? When we first went three years ago to look at lots in SJP - we did last year buy but in Ocean Ridge Plantation, the salesman there said approximately 20% of the people moving south will move back north due to various reasons, i.e., health, becoming grandparents, elder parent issues, etc. not to their liking, etc etc. 20% seems about right though.....
There are a lot of resales in St James, a Google search pulls up at least 140+ and it seems a lot of folks get caught up in the glitzy presentation and do not do their research on all the on going costs in St James Plantation. The buy in ranges from 15K to 30K and is required even if all you want to use is the pools or tennis courts. Then there is a POA and HOA yearly fee, which depending on where you are in SJP varies quite a bit.
Ocean Ridge Plantation on the other hand is far more straight forward, every bit as beautiful and much better located for getting around. The costs in Ocean Ridge Plantation are also much more reasonable and one yearly HOA fee covers everything (currently the HOA fee in Ocean Ridge Plantation is only $937.00, compared to SJP which can exceed $2,000 when added to the required POA fees). My suggestion is do your research and meet with a knowledgeable real estate agent who can break down all the costs and give you the Pro's and Con's of both plantations including the surrounding areas. I found a lot of great information on Ocean Ridge Plantation at homesforsaleoceanridge.com and suggest you spend sometime looking over all the details of both plantations before making a final decision. My opinion for what it is worth is Ocean Ridge Plantation is by far the better value, offers a much better locations for getting to shopping, DR Appointments, Medical Facilities, Dining, ETC.
Not sure where Suzy is getting her information. SJP POA fees are $395/6 months and cover all fees, except the clubs. This includes security, lighting, maintenance and beach club. The club membership is pricy, but it is not mandatory. You can still join various clubs and organizations, use the restaurants, etc. That is what I choose to do and I pay for golf by the round.
I have never been to Oceans Ridge, but it looks beautiful. My friend MissyNancy owns there and I trust here judgement. As for the resales, there have been many houses that have been on the market for quite awhile. What I have noticed is that many of them are in flood plain. Given the new flood maps and insurance costs, that may be a reason. The other homes seem to turn over quicker.
Both communities are awesome and beautiful. It is certainly a great alternative to the NJ winters.
Another reason for the slow turnover of resales may be the fact that the sellers are competing against new construction. At SJP there are 230+ new units under construction at any point in time. The price points and locations being similar, most people prefer new construction. In my view it is important that when you purchase a home you have the features you like but at a good price point, so you will be in a competitive position if you want to resell. I also think that Brunswick County gets more attractive over time as there are more businesses and communities being built and more services being provided.
Goldenage,
Are you including the golf villas in your eight percent comparison of Brunswick Plantation?
Yes, I just included the number of listings from the CarolinaPlantations site. It might be more realistic to exclude the golf villas, but my point was just that the St James % of sales listings is not bad.
Not sure where Suzy is getting her information. SJP POA fees are $395/6 months and cover all fees, except the clubs. This includes security, lighting, maintenance and beach club. The club membership is pricy, but it is not mandatory. You can still join various clubs and organizations, use the restaurants, etc. That is what I choose to do and I pay for golf by the round.
I have never been to Oceans Ridge, but it looks beautiful. My friend MissyNancy owns there and I trust here judgement. As for the resales, there have been many houses that have been on the market for quite awhile. What I have noticed is that many of them are in flood plain. Given the new flood maps and insurance costs, that may be a reason. The other homes seem to turn over quicker.
Both communities are awesome and beautiful. It is certainly a great alternative to the NJ winters.
Pony
Doesn't matter what SJP fees are - still cheaper than the excessive NJ taxes of $15,000 a year for property taxes I am paying now!!! 3-4 years for Ocean Ridge for me - can't wait !!!! Take care PonyPride...Nice to hear from ya!!!!
Doesn't matter what SJP fees are - still cheaper than the excessive NJ taxes of $15,000 a year for property taxes I am paying now!!! 3-4 years for Ocean Ridge for me - can't wait !!!! Take care PonyPride...Nice to hear from ya!!!!
Just received the 2015 Real Estate Tax bill Saturday and guess what? They increased by $2000.00.......................................... ....................
PonyPride has it in a nutshell IMO ..... "Another reason for the slow turnover of resales may be the fact that the sellers are competing against new construction."
I might also add that the exceptional financial market results from the last 5-6 years has swelled pockets sufficient for new (and soon to be) retirees to accept and willingly pay the admittedly hefty differential between new construction and existing resales. It may sound pretentious but if you have the means and you are looking at an SJP property as your dream retirement home, that price delta is going to look smaller if your 401K and IRA statements look bigger.
My home construction in SJP began two weeks ago. I am literally an example of the 2nd paragraph. I swallowed hard and paid no small delta to get the home I wanted, knowing full well that I was paying a premium relative to existing homes. Would I have done that if today were 2007/8 .... not a freaking chance!
Gatorbyter
Last edited by Gatorbyter; 07-23-2014 at 05:13 PM..
What builder did you choose to build your home? Any chance you will be at SJP next week?
Pony
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