Community Marketing & Real Estate Update

What Are Those Stakes?

Many of you have noticed the staked-out property between our Real Estate Welcome Center and Magnolia Golf Course, sparking curiosity and questions.

Here’s the scoop: In early June, we announced in The Landings Association’s Landings Notes & News that The Landings Company is exploring the development of this land. The plan is to potentially build five-to-six patio homes on the lots between Bartram Road and Magnolia #9. The primary motivation? To significantly reduce the $1.2M loan we secured for the $1.7M building renovation.

This exciting opportunity is being explored in close collaboration with The Landings Golf & Athletic Club (TLGAC) and The Landings Association (TLA). The property, owned by The Landings Company, already is within our community and won’t require annexation like with Moon River or Marshview Landing.

 The orange stakes mark the property boundaries, while the pink stakes indicate the anticipated corners of the homes. Representatives from TLGAC and TLA have thoroughly reviewed the plans and provided valuable feedback.

 We’ve enlisted Coleman Engineering for a due diligence study to assess the feasibility of this project. This includes site and utility assessments, preliminary meetings with review agencies, and creating conceptual budgets and schedules. The gathered data will guide us in deciding if the project is feasible, and if so, developing the next steps to gain County approval to proceed.

If the project proceeds, The Landings Company and TLA’s Architectural Review Committee (ARC) will ensure that the designs align with the new Marshwood Clubhouse and campus. These lots offer stunning views across Magnolia #9 and #18, with the spectacular Marshwood Clubhouse in the distance. We’re excited to keep you updated as the project progresses.

On another positive note, we’re ready to start rebuilding our Welcome Center Building! After a lengthy insurance review and negotiation, followed by architectural and construction re-quoting, permits have been requested. We’re aiming to start in early August, with a four-month completion timeline, wrapping up by the end of November. Hallelujah, the tarps finally will be gone!

Below are some quick market updates with some impressive average pricing numbers.

 

 

 

 

 

 

 

 

 

 

 

 

 

Recently, nearly 50% of all listings in the MLS have shown price reductions, reflecting a shift in the market. Today’s buyers are more discerning, taking their time to review listings thoroughly before going under contract. They are paying closer attention to home inspections and making more repair requests. Despite these trends, our buyer mix is still achieving high average prices on closed homes.

We look forward to serving you or your friends if you’re ever in the market. Thank you for your continued trust and support.

 

 

 

 

 

 

 

 

 

 

 

 

The Landings Company is 100% self-funded from the sales commission revenue we generate. We continue to nationally market The Landings, which benefits all of our property values, with your support when selling your home, referring friends and family, or renting your home. Thank you in advance for your support thus far in 2024!