I Took Advantage of the Declining Real Estate Market

I bought improved land in a new Florida waterfront gated community. This deep water canal leads three miles to the southern portion of Tampa Bay and then into the Gulf of Mexico.

I am going to build my dock with gazebo right away, so I can dock my boat. Then I will build the house in two or three years.

All the waterfront lots are double bulkheaded so it creates your own little beach area. My lots have a unique shape and subsequently the beach area is larger and deeper.

Wow that sounds great. It is def a buyers market right now.

sweetness! nice buy there. Do you plan to keep your beachy area when you build? Also we need pics of said boat.

Congrats and hope it triples in the next 10 yrs.

Common said:

Congrats and hope it triples in the next 10 yrs.

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this assuming it doesnt get wiped out by a hurricane in that time period

Very nice. I lived on the gulf in Pensacola for a while. It was nice but big dollars.

Common said:

Congrats and hope it triples in the next 10 yrs.

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It actually doubled in valued the moment I signed the contract. The two developers bought the raw land, subdivided it put in the additional man-made canals, the roads, the improvement, the clubhouse and pool, double bulkhead, etc. Then they were approached by a local custom builder who arranged to buy all the lots.

Even with the downturn in the market, the builder is still selling at a good clip but he returned the last ten canal lots to the developer to help collateralize his long term debt.

I bought from the developer who just wanted the lots gone. I paid less than half of what the builder is currently selling the lots for.

This is a picture of the same boat, just not the one I own.

Congrats! Must be nice!

thomas91169 said:

this assuming it doesnt get wiped out by a hurricane in that time period

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What is quite unique about this area of Florida is that the barrier peninsula that is Pinellas County protects the land east of Tampa Bay. Hurricanes in the past 100 years havent impacted this area too bad. They have either gone south by 50 - 100 miles or north of here.

musclefan21 said:

Congrats! Must be nice!

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Indeed it is. I am psyched. I have been looking at house plans for two days now.

I am planning on something in this style. The garages are each 40 feet deep, so I can fit four cars and still have room in the between them. Plus that leaves a 20 X 40 room off off the back at the ground level.

not bad! different color i hope!

Moparkidd said:

not bad! different color i hope!

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Most certainly. It will also have a third level with a large deck off the back and bonus room. I also found a place to install a nice mahogany two person elevator quite inexpensively.

Frickin sweet.

My best friends family recently just bought a house that looks very similar to the one pictured above in a community called "Tiki Island" towards Galveston.

The property sits on one of the canals pictured below...



We will be spending next weekend there. Hopefully get some good fishing in.

Very nice:beer:

im building this as im 19 and plan on restoring my camaro soon, only gonna run me about 50k in total, but its pretty small upstairs, but i still have a living room, bedroom bathroom kitchen all that...you should have yourself a nice place when you finish!

Thats some nice property for sure, and that house design looks pretty sweet also.

4 cars deep huh Adam?

Need a housekeep? lol I wanna move back down to Fl...

damn, that is so sweet.

that looks like a fun place to live

FordSVTFan said:

What is quite unique about this area of Florida is that the barrier peninsula that is Pinellas County protects the land east of Tampa Bay. Hurricanes in the past 100 years havent impacted this area too bad. They have either gone south by 50 - 100 miles or north of here.

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lol i see Katrina's lesson has been forgotten already.