Thursday, February 13, 2014

What is being listed for sale at NCC

#105, a 4/3, 2nd floor, is available at an asking price of $117,500 under MLS #: 616356
Price has not changed since being added to site on 1/21/2014.  Unit was formerly owned by David and Amy original sale price on 10/5/2006 of $184,900.

#1602, a 3/2, ground floor, for $98,000 under MLS #: 614614, Owners are Steve and Carrie Weeks.  Price has not changed since being added again to site on 2/12/2014, it was listed as of 11/12/13 for sale "As Is, Short Sale" at $94,000 purchased 2/15/07 for $164,900.

Fannie Mae asks $99,000 for #615

On June 27, 2013, #615, a 3/2 upstairs unit, was taken in a foreclosure action by Fannie Mae for $57,800.  (ie: they bid on their own foreclosure)

This unit was one that NCC had filed liens on for past due condo payments, it was subsequently auctioned by NCC and purchased by Gordon Harris (for $9,500) who got a certificate of title from the County.  The unit could not be sold by Harris as Fannie Mae also had it up for foreclosure getting a Final Judgement for $186,639.79 and had a superceeding claim to it.
As of Jan 30, 2014, the unit is now up for sale by Fannie Mae for $99,000. MLS #616523.  It will probably sell for around $82,000 as such foreclosures usually go for 45-55% of the original sale price.

The original owner was Peachy Gayatin who purchased the condo on 11/10/06 for $168,200.

Tuesday, February 11, 2014

Just For the Record:

Who is the Nautilus Cove Developer?

On Feb 13, 2004 Gulf Boulevard Partners Ltd was created and on Dec 14, 2005 the then Gulf Boulevard Partners, Ltd amended their Certificate of Limited Partnership and had a name change to Nautilus Development Partners, LLLP. and on 12/31/09 the name was changed again with an Amended and Restated Certificate of Limited Partnership to SAS Nautilus Cove Managers LLC

A look at the Florida records at brings in several other names. 

All these name changes brings to mind the old Abbott and Costello standup comic routine of "Who is on first" or perhaps the game of trying to find which shell the pea is under.

What is the correct condo name?

It is not: Nautilus Cove Resort or Nautilus Cove Apartments.  The condo name as filed with the Florida Dept of Corporations on 4/12/06, and reflected in the 7 pages of the Articles of Corporation for a Florida Non Profit Corporation states that the condo is called Nautilus Cove Condominium Association, Inc.   The initial slate of Directors named were: Price, Brock and Missigman, all appointed by the Developer.

Is Nautilus Cove a HOA?

No it is not a Home Owners Association (HOA).  NCC is a Condominium Association (CA).

Q)  How many developer units remain unsold?
A)  56 (plus #708 which the developer bought back from an owner and it is now held under the name Nautilus 708, LLC)

Moved up the blog from Sept 8, 2013

Unit #708, a 3/2, (Bill Harris) has been sold 85% furnished, via Pelican Realty to the condo developer Nautilus Development Partners LLLP, and titled under: Nautilus 708, LLC*, for $93,000, which is 56% of original sale price of unit. (no comm paid by seller).  Original sale price was $165,900 in May 2007. 

Owner Harris was a frequent critic of Concord Management and the developer, and was standing for the Board in the 2013 election on a platform of removing Concord from managing the complex.   With the 1/11/13 sale the composition of the 2013 Board will remain the same as it is now with Owners Mrs Simmons (#802) and Mr DiGiacomo (#616) and one developer appointed Board member.

This blog site was established in December of 2007, has 300 posts and it will remain up and open although it will not be updated with any frequency as blog author (myself - Bill Harris) has no further connection with Nautilus Cove.

It is said that the 2 happiest days in the life of a boat owner are the day he buys his boat and the day he sells it.  This also applies to condo owners.  Unfortunately this turn of events means that the Developer and Concord remain in charge of the condo and the poor management will continue.
* Managers are:  MISSIGMAN, PAUL M. and PRICE, DEAN C. II