| Name: |
John C
- 
|
|
| Subject: |
Harbor Pointe Auction Results
|
|
Date:
|
7/11/2007 11:28:36 AM
|
For all of you who haven't heard, see the link below for the results of the auction last Saturday at the Harbor Pointe condos in Stillwaters.
I interviewed a rep from the auction company and I also had a "man on the scene" with an eyewitness report. See below.
URL: Lake Martin Voice - Results of Harbor Pointe Condo Auction
|
| Name: |
noagenda
-
|
|
| Subject: |
How do these prices compare...
|
|
Date:
|
7/11/2007 1:44:00 PM
|
to the prices that the condos were historically getting. Got to think current owners are concerned.
|
| Name: |
streamgager
-
|
|
| Subject: |
Harbor Pointe Auction Results
|
|
Date:
|
7/11/2007 1:48:42 PM
|
I talked to the service manager at Harbor Point the next day and he thought that only 1 boat sold. He claimed it was 'given' away...a Mastercraft/Correctcraft type for 35k. He said people were looking for 'steals' and not 'bargains'??
On a totally unrelated note..he offered that they have seen more 'major' repairs than any other time..though overall business is way down. He said he doesn't even like to test drive the boats for fear of tearing something up..and told me the owners son tore up a brand new Mastercraft this past weekend...I think its OK though..Daddy looks to have money!
|
| Name: |
boataholic
-
|
|
| Subject: |
How do these prices compare...
|
|
Date:
|
7/11/2007 5:09:29 PM
|
If my memory is correct, the July issue of the lake martin real estate magazine had an ad for Harbor Point advertising 3 BR condos for 525 for 2 BR and 425. Anybody got a copy handy? Mine is at the lake.
|
| Name: |
boataholic
-
|
|
| Subject: |
How do these prices compare...
|
|
Date:
|
7/11/2007 5:16:56 PM
|
I should have searched first. This link advertises two different 3 BR condos, one at 475 and one at 550, plus 35 for a boat slip. It will be interesting to see if all condo values drop accordingly.
URL: http://www.summitsoutheast.com/frmListing.aspx?ListingID=5
|
| Name: |
Feb
-
|
|
| Subject: |
Link to Real Estate
|
|
Date:
|
7/11/2007 5:21:17 PM
|
Hi boataholic, Here is a link to the section of Lake Martin LIving you mentioned. I did quickly note one 3 bedroom, 3 bath unit listed for $599K.
URL: Buy Lake Martin
|
| Name: |
Osms
-
|
|
| Subject: |
Harbor Point Auction
|
|
Date:
|
7/11/2007 7:25:52 PM
|
Someone told me that all of those condos were owned by speculators who got in over their heads when the market soured. I had thought they were offered by the developer, but was told otherwise. Interesting.
|
| Name: |
BiggerDog
-
|
|
| Subject: |
Must Take this into Account
|
|
Date:
|
7/11/2007 7:31:55 PM
|
20 of the total 25(the article incorrectly mentions 20) are in the building that has only a minimal lake view from the 4th floor and no view at all from the other floors. From a real estate value perspective, these do not compare to the others being listed and so price comparisons are not accurate. I have no unit there and would never buy one as you as you are paying big dollars to be "near the lake" and not on it. However, these were glorified golf villas as they dont even have a view of the lake. The ones that sold from 350-400(including 10%) at least have a small view.
|
| Name: |
itisd
-
|
|
| Subject: |
condo-no lake view
|
|
Date:
|
7/11/2007 9:34:08 PM
|
If no lake view why pay $385,000 up when you can buy an interior lot in Stillwaters for $8K to $12K or an existing house (resale) for $145,000.
|
| Name: |
John C
-
|
|
| Subject: |
condo-no lake view
|
|
Date:
|
7/12/2007 12:15:21 AM
|
For my article, I got the 20 units (instead of 25 biggerdog mentions) from the auctioneers themselves. See their site.
The one that went for 385 was in building A which has a view of the marina. All harbor pointe units are technically waterfront.
Incidentally. the last one to sell in Harbor Pointe was in building C, and through the mls sold for 420, I believe. So if you tack on 10% to 385 that puts you at 423.5, so slightly more expensive to the buyer than going through a realtor in the mls.
The ones that sold for 235 were in building E, which is waterfront, but does have a lesser view than the rest, hence the price difference. Off the top of my head, I can't think of any comparables in the mls for building E.
URL: Lake Martin Voice
|
| Name: |
BiggerDog
-
|
|
| Subject: |
condo-no lake view
|
|
Date:
|
7/12/2007 11:29:36 AM
|
Having a view of a stream that is dry when the 487 ft mark is crossed is hardly how I, at least, would define waterfront. It is just marketing - if you look at the untis, you are basically paying to be close to the lake. So the interior lot suggestion is absolutely a valid one.
|
| Name: |
dooblebug
-
|
|
| Subject: |
Harbor Pointe Auction Results
|
|
Date:
|
7/12/2007 4:16:53 PM
|
The condos were owned by the developers and that is who auctioned them off. The first unit to go was in D building - It was a top floor end unit with the best view.
I was at the auction and own a condo at Harbor Pointe. Owners are not happy with the auction results, but the worst building was the main one being auctioned off. I guess we should have expected the low prices since that building is at the end of the slew.
|
| Name: |
boataholic
-
|
|
| Subject: |
Harbor Pointe Auction Results
|
|
Date:
|
7/12/2007 9:31:37 PM
|
How many condos are in Harbor Pointe?
|
| Name: |
John C
-
|
|
| Subject: |
120 I think
|
|
Date:
|
7/13/2007 10:05:14 AM
|
I think it's 120
5 buildings times 4 floors each times 6 units per floor.
URL: Lake Martin Voice
|
| Name: |
boataholic
-
|
|
| Subject: |
120 I think
|
|
Date:
|
7/13/2007 4:07:01 PM
|
20 out of 120 doesn't sound too bad. However, someone else posted that in Dec '05 they started Phase III. So perhaps a more useful question is how many units were in Phase III?
|
| Name: |
dooblebug
-
|
|
| Subject: |
Harbor Pointe Auction Results
|
|
Date:
|
7/16/2007 3:35:54 PM
|
There are 98 units at Harbor Pointe.
A bldg = 26
B bldg = 20
C bldg = 16
D bldg = 20
E bldg = 16
|
|
New Post
Search
Coffeeville Lake Topics Forum
Reply
»
Alabama Lakes
»
Coffeeville Lake
Login
|
Home
