This’ll Do it Everytime

A great oceanfront house for sale. Vacant lot next door. The land goes on the market. The house next door drops its price almost a half million.

landfigureeight

The house price drops from $4.2 to $3.8

figure8island

We still haven’t made it to Wilmington NC to actually see Figure Eight Island for ourselves (hard to leave Dawg) but it’s looking good for deals. I noticed the other homes on Figure Eight are sitting unsold, some reduced too. Could be related to the last storm that hit the NC shore hard or it could be that people don’t want to live in a gated community with steep annual HOA dues or it could be people would rather buy raw land and build or that all us baby boomer age group moving to North Carolina did so already so this house doesn’t have a big enough buyer pool.

As we continue to look, raw land seems the most logical option for us too, build a home that meets the most up to date coastal regulations in height and in being hurricane proof.

With the two acres for sale at 518 Beach Road at $2.6m plus what, $1.5m for a big house? Or buy and move in to a house already done and hope that whoever buys the land next door doesn’t permanently block your view, if, that is, you can tolerate a year or more of construction vehicles making noise.

I report. You decide.

 

 

18 thoughts on “This’ll Do it Everytime

  1. I’d opt for the lot every time.
    So I asked “can you put a double wide on a waterfront lot in a flood zone?”

    And from the US Government, I got an answer:
    https://www.rd.usda.gov/files/manuf2008R.pdf

    Site Requirements:
    Located in rural area.
    Contiguous to public street.
    Streets to be paved or all-weather surface.
    Site must not be large enough to subdivide.
    Value of site must not exceed 30% of the as-improved market value of the property.
    Finish grade beneath the home or the habitable floor, whichever is lower, must be above the 100 year flood plain. Site must have adequate water and wastewater disposal systems.

    1. Wouldn’t that be fun, put up a double wide on this land, with Mr. EOS’s “vintage” Dodge truck parked up front. A great way to get the blue house down to $1.6, fast. Rednecks in the neighborhood. 🙂

    1. Not a stupid question at all. Most of my friends ask the same thing. Go live in the mountains or rolling hills of NC they say. I guess I’m a glutton for punishment.

      Seriously, as the view at the RI gets diminished with mammoth new builds surrounding the modest carriage house, and with no view at all in Bedford, my number one priority is view view view. Not that views from NC mountains aren’t spectacular, I pine for an unobstructed ocean view.

  2. Wilmington is COLD Jan-Mar! We spent a week on the coast in SOUTH Carolina late Feb and froze! Why buy on the NC coast to freeze in the winter? Sanibel for me! Bibi

    1. I know you are right, you are absolutely right. You, Martha, Riverside Dog Walker, Earth Image, all Floridians at some point during the year. I’m just not there yet.

  3. I hear this house is coming on the market soon. Don’t believe the zestimate, this should sell for $1.5-1.75M for the land. House built in 1970 is worth nothing, but it will enable you to get a mortgage if you so desire. Budget $2M for your new build if you don’t go crazy and plan for 18 months or more to do a custom home, unless you pick a set of plans out of a book. You then have what you are looking for in a primo Sarasota location (of course I am biased on this). Sunny and 80 degrees here now.

    https://www.zillow.com/homes/for_sale/pmf,pf_pt/land_type/47607929_zpid/27.327054,-82.559979,27.323761,-82.564786_rect/17_zm/

    1. The hard part for me is not knowing a thing about most Florida towns, in terms of wanting to live there. So many towns look great at a glance but what it’s going to take for us is to spend some time in some places, rent a couple of months here and there, before throwing the dart.

      Remind me again how you chose Sarasota. Was it a dart throw or did you have experience there?

      1. Like many other transplants, we first came to Sarasota (in 1999) to stay at the Colony Beach & Tennis Resort, at that time ranked as #1 Tennis Resort in the country by Tennis Magazine. Not only was this a charming place (out of business now), but I was immediately taken by Sarasota. Beautiful, relatively uncrowded, low density developments, laid back vibe due to the fact that historically mostly people from the midwest come to the Florida gulf coast, an actual small city of 60,000 or so with good facilities, an arts and culture orientation, great restaurants, etc. To me, a very different scene from Boca Raton and that area.

        Completely agree that one size does not fit all. Retirement relocation is hard, even if you plan to be only a partial year resident.

        1. That’s great information. We haven’t even decided how many months during the course of a year we want to be southerners. It’s a far bigger hurdle for Mr. EOS to be away from RI than it is for me. Let’s just say we’re still in negotiations. 🙂

        2. PLEASE google Island Sun and River News, the free weekly Sanibel newspaper. You’re a volunteer? Tons of interesting opportunities. You like to photograph? There’s a place for you at Big Arts. Miles of beaches to walk. Wonderful restaurants. Two lane roads (FL 6-8 lane highways make me tear my hair.) An amazing library. Great Episcopal church. Nature nature nature. For Mr Eos, it’s the tarpon fishing capital of the world. Friendly Midwestern people who are NOT dripping with gold chains and attitude. Big Arts theatre has Broadway shows and world-class lectures. Do book a month here when you begin your search. Bibi

  4. We are not feeling it for Florida this year… the weather has been phenomenal, but re prices here are off the charts high. Plus, for the first time ever (coming here since 1999) I saw a big fat rat and a couple palmetto bugs in our third floor condo. Tropical climate is a harsh adjustment for northerners. Maintance is high to keep things from “crusting up” (my technical term!😀) in the salt air. And, this year, I had a hard time getting my kids out to play–the big one has almost completely boycotted to pool, and they often want to stay home and read, or play/school on the iPad. Crazy that we spend $$$ on a great winter to meet with resistence. Renters we remain.

    1. Just to clarify, the rat was outside. And I only saw it once. There are many semi feral cats here to curtail the rats. (I wrote just after dinner with much wine..not a good idea, usually!)

    2. As I said to Riverside Dog Walker, i am sure we are going to have to rent for a bit before tossing down real money for a southern home, whether NC or FL or Barbados! Renting isn’t a bad thing at all – you can walk away from hurricane damage and leave the clean up to the owners – so many good reasons to rent, until such a time when you know that’s where you want to hang your hat.

      I’ve heard from other Floridians that bugs and rats, even water snakes, are what they hate the most. We get an occasional mouse here but kill them with traps quickly.

  5. Alas, Rattus rattus was here long before us, and will be here long after we’re gone. i hear the White House is crawling with mice. A dear friend in Wilton has the occasional visitor. D-con, anyone? In fact, anyone with an antique house/fieldstone cellar fights a constant battle. Bibi

    1. We had a couple of mice this winter – same thing, old house, places they can get in for warmth, but we killed them dead pretty fast. No cat though and Dawg is too blind to see one dash by her.

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