Veranda Gardens / The Cove by Davosta (Vero Beach, Stuart: real estate market, foreclosed, rent to own)

[ajnucch]

Just wondering if anyone has any opinion/info to share about these two builders/subdivisions in Vero Beach, we have been to both of them, curious as to why builders charge lot premiums for most of their lots that are not on a lake, nor oversized ? Both are sub-divisions in the building phase. Any input would be appreciated. Thanks....

[JERSEY MAN]

Because they can in a good real estate market. 5 years ago, they gave you a premium lot, many upgrades and reduced the cost of the house just to stay in business. Now people are buying, so it's the old supply and demand concept. It is what it is. I hope the market drops and they come begging again.

[SeetheUSA]

They are all ridiculously overpriced. I will never buy from them.

[runswithscissors]

That's nothing new. My first house in Philly, a townhouse had lot premiums. In 1987.

But I don't think you understood what you're looking at. You're looking on the website, correct?.

Why didn't you just ASK them while you were there. Did you really GO INSIDE?

They only have 12 lots left. EVERY LOT HAS A PRICE listed. 25K, 16K, 20K, 11K, 1200, ......etc etc

It depends on alot of factors and location. And what HOUSE can go on it. It'a PLANNED COMMUNITY. You just don't get to pick any style house for any lot.

And those lots do NOT look all the same size to me. Number One and Four are clearly larger than Numbers Two and Three.

Those lots in the back #16 to 22 are DEFINITELY going to be MORE because there are NO NEIGHBORS behind you. And #16,17,18,19 are on a cul de sac facing no direct house.

Number One for $20,000 is right by the gate on 53rd St in the center of the community by the CLUBHOUSE are bigger than the two little ones for $1200 on 58th Ave. Numbers 36 and 38 which are SIGNIFICANTLY SMALLER than 37 and 40.

Then if you click on the lot number, the drop down tells you WHAT MODEL is eligible to go on the lot. NUMBER ONE for example only can have two of the 2300 - 2500 Sq Ft models at the top of the range. NOT the 1700 sq foot models that are slotted for those two small lots on 58th Ave.

If you look at the two Sample Houses, I can virtually GUARANTEE YOU that #80 has a bigger driveway than many others.

And judging from all the people here COMPLAINING about Truck parking rules who have GIANT TRUCKS, a bigger driveway SHOULD have a premium IMO.

Just for fun because I love househunting I'll drive in tomorrow when I go by and get it first hand by seeing it in person. I've been in there a couple of times but only going from memory and the site plan.

[runswithscissors]

Originally Posted by JERSEY MAN

Because they can in a good real estate market. 5 years ago, they gave you a premium lot, many upgrades and reduced the cost of the house just to stay in business. Now people are buying, so it's the old supply and demand concept. It is what it is. I hope the market drops and they come begging again.

That doesn't even make sense complaining about if you believe in supply and demand.

OK you don't live up here so you have no idea that that mega tract of land has been planned now for OVER five years. The first subdivision of Waterway Village was built around 2006.

The Isles at Waterway Village is where the pro baseball players all lived during spring training. $400K houses. It's a beautiful quiet gated community, concrete pours, safe rooms, with a pool on every property and away from ALL traffic and chaos.

If you are BALKING at a small lot "premium" then check a different neighborhood. Everybody with the champagne tastes and beer wallets want to live in these subdivisions. WTH.

I can PROMISE YOU that all these "new home shoppers" here do NOT WANT a pre owned or even pre BUILT house. I've spoken to PLENTY Of them and suggested BETTER BUYS in even BETTER developments or the very same developments where they want a lot. NOPE. NEW HOUSE!!! THere are spec houses already BUILT on good lots but NOPE. They want to WAIT for a new house. I have no clue why. They all look the same. You can only pick so many colors of granite. LMFAO.

How many years should projects just be sat on and builders keep GIVING THINGS AWAY even during a slight sellers market? Or they bought up incomplete subdivisions from previous developers who crashed in the middle of building the place.

It's really NOT a "good real estate market" yet, anyway. There are 80 houses and 12 lots left. WHY should the builder GIVE AWAY ANYTHING?

Reminds me of people who LOVE to try bargain me in my dog walking business. WHY? Anybody who tries that isn't my market at this point.

Falcon Trace: Next Indian River County growth spurt could be to the south - TC Palm

Indian River County has just one active mega development. Waterway Village, northeast of 49th Street and 58th Avenue, is a development of regional impact, a state designation for a development so large it could affect roads, schools, property values and other aspects of area lifestyles. In Indian River County, the threshold for a DRI is 1,000 homes.

The overall plan for Waterway is to turn 696 acres of pasture land into a development of 1,596 homes and duplexes. The first phase completed was 431 lots; an 80-unit subdivision is being built now.

Construction rebounds on Treasure Coast, but not for large developments

With the number of foreclosed properties on the market no one should expect building in preapproved mega developments to awaken anytime soon, said Don Santos, past president of the Treasure Coast Builders Association.

“The market is just not there yet and probably won’t be there, not until the next five or 10 years, especially for the Treasure Coast,” Santos said.

Busha said developers are not risking building a lot of new houses that might not sell.

For example, developers of Waterway Village, west of Gifford in Indian River County, have approval to build 1,596 homes. But they have only built a third of those homes.

[runswithscissors]

Originally Posted by SeetheUSA

They are all ridiculously overpriced. I will never buy from them.

I'm pretty sure there's a very low risk of you EVER buying from them.

Why would you go out of your way to insult someone's housing preference. And you don't even live here, you live in PSL. Which is an entire other animal than Vero Beach where this community is located. THere is no comparison in any way to the two places. Not even in the same COUNTY.

Especially considering you just moved there recently yourself with a different set of REQUIREMENTS anyway.

According to your posting history you wanted "rent to own", AFFORDABLE even if it meant driving back and forth to Stuart, and NEAR a BAPTIST CHURCH.

Which in itself is the height of irony.

I noticed you said you wanted to send your kids to MARTIN COUNTY schools right after you moved here even though you're in SLC. LOL. More irony.

Yet you still believe that the price of a house is simply about the bricks and finishes?

Impact Fees

[SeetheUSA]

Originally Posted by runswithscissors

I'm pretty sure there's a very low risk of you EVER buying from them.

Why would you go out of your way to insult someone's housing preference. And you don't even live here, you live in PSL. Which is an entire other animal than Vero Beach where this community is located. THere is no comparison in any way to the two places. Not even in the same COUNTY.

Veranda Gardens (which development is no more than 5 miles from me) is in the OP title. It is in the same county and I have looked there. They have huge premium for "waterfront" lots, which back up to nothing more than a required drainage pond. The lots are extremely small and cost thousands. The home I was looking at was over $400k for a 4 bedroom home. Not buying there because it was overpriced...by a lot.

Originally Posted by runswithscissors

According to your posting history you wanted "rent to own", AFFORDABLE even if it meant driving back and forth to Stuart, and NEAR a BAPTIST CHURCH.

Which in itself is the height of irony.

Why is that ironic? When I moved here, I wanted a rent to own option so I could get out easily without having a mortgage and house to worry about. My Mother-in-law has cancer and we were thinking that there was a possibility of us having to move back to NC quickly. (Not that it is ANY of your business.) Yes I am a Baptist and wanted to find a good Baptist church. Again- problem??

Originally Posted by runswithscissors

I noticed you said you wanted to send your kids to MARTIN COUNTY schools right after you moved here even though you're in SLC. LOL. More irony.

Yes, Martin county is known for good schools. I want the best for my children. SOOOO ironic. You can pay for your children to go to public school in a different county in NC. That is where we moved from. I wanted to see if that was an option here.

Originally Posted by runswithscissors

Yet you still believe that the price of a house is simply about the bricks and finishes?

I believe the new homes built by Divosta are extremely overpriced for their square footage and the size of their lots. I will never buy from them. That is what I posted and stand by. Everyone is entitled their own opinion, and the OP asked. I would be a bit more understanding if the OP grilled me over my post, but scratching my head over why you are. Guess you have a lot of time on your hands to go through my 200+ comments to try and argue with me over an opinion.

I wish the OP good luck in finding a home. My advice to you is to find a home already built.