Monday, July 10, 2017

All developer units are available, now and then some from individual owners come up.

Sometimes I check in to see what Pelican Real Estate is offering from among the units still owned by the developer.  It doesn't change.  Here is what they offer on their site:

33 4/3 units at $159,987
11 3/2 units at $149,987
13 2/2 units at $139,987
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Total available from developer:  57

These prices have held steady for many years and of course they are overpriced and do not sell.

If you are looking at any realty site and pull up units available at Nautilus Cove you can immediately tell a developer unit as they all end with the number 987 in the price listing.

As mentioned below (several times!) you want to AVOID these units as they are all hard used as low income rentals.  If you find one of the individually owned units the price will be a lot lower, the units better cared for with fewer renters having used them and occupancy should be pretty close to immediate.

Those 57 units advertised by the developer are almost all occupied and any sale would require getting the current renter out.

Be careful in buying at NCC.  I had a condo there for about 5 years and I am very pleased to be GONE from there even though I lost $65,000 in selling (#708) back to the developer.