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Old 03-22-2009, 04:38 PM
 
2 posts, read 5,331 times
Reputation: 10

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Hi all, new poster(s) here. We were recently in Savannah for St. Patrick's Week; (calling it just a Day doesn't come close to doing it justice!). While there we took a drive out to Tybee island and came across a townhome development that was completely in foreclosure. There were approximately 16 units that had never been lived in even though they were built in 2006. It appeared that the developers lost their financing.

Okay, the point-does anybody on this board have any info. on exactly what happened with this development? "The Village at Tybee" just in case you didn't notice the thread title We walked through several of the units and they are a strange combination of upscale workmanship and shoddy "let's just put anything down to meet code" hack-work. Despite this it seems that there may be a few roses amongst the thorns here.

I am 3 years from retirement and never thought I could afford a house on a beach. But these are actually within my price range. Add to that a daughter at Armstrong Atlantic U. for the next couple of years, and this seems like a great opportunity to live on a nice beach close to a great city. We love Savannah, but "The Village" was only a 15 minute drive at rush hour to River Street. We know that changes in the Summer. But, having lived in the congested Boston area most of my life, we're very used to traffic.

Thanks, in advance, for any help you may give us.

Jana & Bob
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Old 03-23-2009, 08:30 AM
 
Location: Wilmington Island...Savannah, GA.
737 posts, read 2,286,400 times
Reputation: 128
Old, but worth a read...
Tybee's march up property ladder continues with luxury town homes | SavannahNow.com
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Old 03-29-2009, 11:53 AM
 
2 posts, read 5,331 times
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Default Thanks Al

Thanks for the link Al. I've read it and several others and am still curious if any locals know what the real story is with this development? They all sold for about $815K in June of 2007. Then they ALL sold again for the mid $600K range in April of 2008. Now they're being auctioned off in the low $300K range.

During the last bad recession, in the early 90s, there were all sorts of shenanagins between builders, bankers, and realtors with foreclosed properties. It seems really suspicious that 16 units all followed the exact same sales trends at the exact same time, despite separate owners. I got the sales history from the Chatham County website.

Does anybody have a good recommendation for an excellent home inspector, specializing in mold detection? I'm very intrigued by these properties, but really think a great and thorough inspection will be necessary prior to making any offer.

Thanks in advance!
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Old 03-29-2009, 02:29 PM
 
Location: Wilmington Island...Savannah, GA.
737 posts, read 2,286,400 times
Reputation: 128
De Nada...
I know nothing more then what I read about the place.
Maybe it's time for me and da dawg to take a cruise?
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Old 05-04-2009, 12:43 AM
 
1 posts, read 2,515 times
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Im not sure the scoop...But Paula Deen owns one. She has it advertised on her twitter and website message boards. Paula Deen Tybee Island Boating Fishing Hiking Beach House - Condominium (http://www.vrbo.com/240792 - broken link)
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Old 09-20-2009, 12:50 PM
 
1 posts, read 2,270 times
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Default Village at Tybee Upscale Luxury Townhomes

I know your post is pretty old by now, but I thought I would respond anyway, in case anyone is interested. These townhomes are very high quality, well-built townhouses with elevators and garages. A year or two ago it might have looked like a ghost town as they were all empty after the builder went belly up when the real estate market went down. Now you're lucky to get one for under half million. They have granite countertops and stainless steel appliances, hardwood floors. Several of the units have yards. The beach is only a couple of blocks away. They are quite large as compared with other condos or townhomes on Tybee, most of which have low ceilings and are pretty dated by now. These have huge floor to ceiling windows in the open living areas so there's lots of light. You're right about being convenient to downtown because you just go out Miller and shoot right up hwy Butler/hwy 80. Lots of young families live in them and I think one or two are rented out as weekly vacation rentals. Oh, and Paula Deen lives in one of them, so they must be pretty nice!
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Old 08-10-2010, 06:49 AM
 
Location: wadmalaw island
1 posts, read 1,775 times
Reputation: 10
Default Tybee Island

Quote:
Originally Posted by j.donovan View Post
I know your post is pretty old by now, but I thought I would respond anyway, in case anyone is interested. These townhomes are very high quality, well-built townhouses with elevators and garages. A year or two ago it might have looked like a ghost town as they were all empty after the builder went belly up when the real estate market went down. Now you're lucky to get one for under half million. They have granite countertops and stainless steel appliances, hardwood floors. Several of the units have yards. The beach is only a couple of blocks away. They are quite large as compared with other condos or townhomes on Tybee, most of which have low ceilings and are pretty dated by now. These have huge floor to ceiling windows in the open living areas so there's lots of light. You're right about being convenient to downtown because you just go out Miller and shoot right up hwy Butler/hwy 80. Lots of young families live in them and I think one or two are rented out as weekly vacation rentals. Oh, and Paula Deen lives in one of them, so they must be pretty nice!

Hi, this was very helpful I am looking to make that move to Tybee and I just found one of these townhomes for sale on realtor.com . And now its 2010 so if anyone knows anymore info on this and also the condos at 1415 butler would love to hear. Thanks
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