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Hi all, I have been looking to purchase a waterfront lot on the inter-coastal waterway and wanted to know which development would have the highest future value.
The Developments that I have looked at were The Battery, Waterway palms plantation, The Bluffs, and Carolina Waterway. I do have a favorite from those 4 but was hoping to get some in site from those more knowledgeble thanks, JohnnyO
There are plenty of foreclosures and short sales for lots in ICW developments...in any Myrtle Beach developments for that matter. The Bluffs and Carolina Waterway have more homes built at this time and all of the developments have potential if you purchase at the right price. I would consider the hold time to be many years to see any ROI even for direct waterway lots so you might need to take HOA fees into account to help you decide where to make your purchase.
Also look at taxes. The POS assessment will dictate how much taxes you will pay based on purchase price but that does not apply to foreclosures. Not sure if short sales fall under the same for ATI with Horry County but you might want to check.
Personally I would look down towards Winyah Bay in Georgetown.........much more senic beauty down that way (not a ditch like ICW) but prices are likely higher too.
Good Luck with your purchase!
All four of the named communities were designed/built by the same developer.
If you are looking exclusively at waterfront/waterway lots, be aware that they offer different lot widths and have differing construction themes as well.
There are some really good deals out there right now as lots have fallen to pre-boom prices. The one aspect with waterfront property, regardless of a lake, retention pond, the ICW, etc.. is that there is only so much of it available. Historically, waterfront property holds its value better than non, but this is not always the case.
At the end of the day, it's ultimately about what suits YOUR wants/needs and not what anyone, myself included, on an internet forum tried to tell or sell you.
Best of luck in your decision.
PS-
My favorite, of the four mentioned, is The Bluffs. There are a couple 70' wide lots in that particular development, which caught my attention.
Thanks so much for the replies, it is difficult to make an informed decision not being from the area this site affords a wealth of info and knowledge, currently based on the last few trips I took down to Myrtle beach researching the various intercoastal waterway developments, I have found that the Bluffs seems to be the most desirable based on their lots being the widest anywhere from 60ft-70ft wide second most desirable being Carolina Waterway.
That being said I am currently negotiating on a particular lot in the Bluffs which is 70ft wide (1 of only 6 lots that wide) and happens to be the deepest at 249ft This lot seems to be the most desirable lot in the Bluffs, and due to the 70ft width yields the advantage of many more home options that can be built. Assuming I purchase at the right price I am hoping that there will be future positive rate of appreciation. It is very difficult for me to predict the current market trend, but I do not want to find out six months down the road that I missed the low point of the market. Its so hard to imagine that prices still may have a downside trend but then again many have said that a year ago.
To add I am hoping that once the more desirable forclosure and short sale properties begin to dissipate that values may once again regain value. I also had been looking in the Grande Dunes development and have seen some great values and deals in homes that sold, but lately the same homes are currently for sale and nothing new that compares to what I had seen in the past that raises my interest.
Hi all, I have been looking to purchase a waterfront lot on the inter-coastal waterway and wanted to know which development would have the highest future value.
The Developments that I have looked at were The Battery, Waterway palms plantation, The Bluffs, and Carolina Waterway. I do have a favorite from those 4 but was hoping to get some in site from those more knowledgeble thanks, JohnnyO
The lots that are going to rise in value and hold their value the most are the ones that are the closest to open water (the Atlantic Ocean).
A 15,000sf lot that is 10 miles from open water is never going to be near what a 5,000sf lot that is five minutes from open water. You want your realtor to tell you how far the ocean is in minutes and not in miles either.
The two closest ways to get to the Atlantic ocean from the waterway from the ditch are either Little River or Winyah Bay in Georgetown. LR is on the NC/SC border and Winyah Bay is almost halfway down the state.
If you could afford Prince George, I would agree. The view of those houses from the river is quite impressive. But you are not talking about square feet there... you are talking about acres.
If you do not need to be in a development, consider Hagley Estates area of Pawleys Island.
Could someone give me the current conditions of Waterway Palms Plantation and Waterbridge? Both appear to be very desirable but what are the thing I really should know before building or buying in these communities?
My parents and I looked at a few houses in Waterbridge. Some were very well built and some were very average. We like the development itself. I think you would need to look carefully at any house that you buy or the builder before building. It's also in Carolina Forest which has some traffic issues. Granted they are nothing compared to, say, NYC but for MB, they are significant.
I don't know much about Waterway Palms other than there's some very large houses near River Oaks Drive but an awful lot of empty land around them (stalled development?). I know that there are some very small lots near the ICW but I haven't been down there (gated community) to see how it all fits together.
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