Singing Pig

And to check the real level of Bahama Bay rentals look on a website like www.holiday-rentals.co.uk, key in Bahama Bay Florida and a few condos and villas will come up. You can see a calendar of availability which shows how busy they are. I checked it for the 1st two that came up. The first, a 2 bed condo, was booked for a week in June but was empty for the rest of the summer. The other had a few weeks booked in June and early July but no reservations for the whole of the summer holidays. That shouldd set alrm bells ringing: holidays in the US are really cheap at the moment, we love Florida, most people have booked their hols by now. Also, the Bahama Bay rents were not high: £295 for a condo and £450 for a villa, so why doesn't anyone want to stay there?

CD1 and anyone else.

 I can assure u we have never made money from Bahama Bay: it has been a nightmare of a money pit.  Our mortgage repayments are now $340 per month and we still expect to lose £3,000 this year.  This loss will be but a drop in the ocean of our losses to date.  We are simply trying to hang in and keep hoping the market improves.  My advice would be not to buy at BB if you need to cover your costs or expect to make money, or unless you can afford to buy the property outright.

Bookings have improved, but Integra's charges rise at the same time.  Rental rates vary from $57 per night to about $115.  There have been many foreclosures and many more owners are in serious trouble.  You just have to read some of the newspaper articles to realise this.  Most investors are from UK.  We had very positive input and forecasts from Inside Track and Instant Access Properties before we bought, but it has all proved to be complete fiction.  Florida has been overbuilt with these developments so rental rates are very low.  Many people are withdrawing from purchasing new units at BB as they are in danger of buying a depreciating asset.  I understood that further new building was a a standstill at the moment as so many people were withdrawing from purchases.  We love the development itself - it is beautiful and peaceful - altho we never go in the school holidays.  It is a "lifestyle" purchase, not a purchase for investment return.  If you want to buy in Florida at the moment there are many "firesales" and foreclosures that would be a better investment.  I myself know one owner of an Andros at BB who would like to sell as he is considering going bankrupt.

 Suggest anyone purchasing now does a thorough investigation of the Florida condo hotel market before proceeding, and good luck to you all.  At least u will then be purchasing with open eyes.  We would be delighted to just breakeven on BB for a start.

 All the best

Yours

Marilyn

I've heard through the grape vine that the company in Kingston are now sending our threatening legal letters. Has anyone else heard this or been involved? and did you see the property programme that was on at the begining of the week with the ex employee making comment? That was a very carefully worded report if ever I saw one! 

J  Cook   says  """I spoke to Paul Oxley last night as stated, I dont believe him as the developer to be a liar, That is exactly what he told me,14 completions last week!!!""

 

i think,  j cook,   that you are in denial  -  lets assume that there MAY be a problem with your purchase  -  how annoyed with yourself would you be in 6-8 months time - if you had NOT done further research TODAY as a result of these warnings her on SP  and in every newspaper for the past 5-6 years on IT's devious selling techniques    -

 

 

If  there is NO problem with your purchase and you DO come back here and are smelling of roses - we will all be delighted to have you come back with "I told you so"   and we will be pleased that you have made money ......  but none of us regulars here will be holding our breath in anticipation

Please dont shoot the messenger, !!!

I agree with you hence phoning and  writing To Maesbury/fuel etc. I am relaying (as a decent honest person,) what I was told straight from the horses mouth

I am waiting for figures and have asked for proof  in writing and have clearly stated that I wont be proceeding if it doesnt stack I dont want to lose money believe me

 

 

 

 

no shooting !!!!  i promise !!!   we'll  wait for the figures  .....

I hear tell that some of those complaining here on the forums (fora?)  are now receiving legal letters from our little chums in Kingston. Any one know more of this?

Can someone who has closed on their unit provide an EXACT breakdown of the monthly expenses on the unit between mortgage, light, water, homeowners dues, management fees, expenses, etc?