Sapphire Village Purchase?

Lisa,
The "red tops" (Sapphire Beach) are condo-tels, and can only be financed with local banks. The "blue tops" (Sapphire Hill Village) are condos that are FNMA approved and can be financed with local banks or Flagstar Bank.
The values at Sapphire Hill Village have been increasing, like everywhere else. If you would like current listing info, I'd contact a local realtor.

And the restaurants at Sapphire Village (Oasis and Azure- Grapevine Grill is too new to tell) have always been superior to the ones at the beach.

The condo association at Sapphire Hill Village is a well run association. They are working hard to protect everyone's investment. Right now there is a special assessment but that will go away in about 3 years. You could rent the unit as a vacation rental if you wanted while you are not there. I have a friend who manages vacation rentals there. PM me is you are interested. The condos at the beach are having some issues - details I am not clear on - but the restaurants are not open and from what I hear will not be open in the near future. Also the dues are relatively high.

Donna Wheeler, Realtor

I sure wish the beach condo section could get its act together. It's such a beautiful setting that it's a shame it's going to waste & losing money. A friend has owned one of the hillside studios & has rented it successfully for years, although to long-term rentals.

Does you friend have any kind of structural issues with his condo, like any leaks? I think the re-stucco job is really making a huge difference - and I don't think the beach resort having closed their restaurants would hurt the village condos but, like you, I wonder why they can't get their act together? Thanks for any info. A prior reader suggested I call a Realtor - I have already done that - I wanted to hear from a local who actually owns one of the units, so thanks very much!
Lisa

I'll ask her tomorrow & let you know what she says, Lisa. I don't know what level hers is on but I'll find out what I can. As I say, she never has a problem keeping it rented, though.

I spoke with her & her unit is a smaller one which you walk straight into from the walkway (not an upper or lower unit.) She didn't know anything about leaks since she's not directly under the roof. She said there is a lot of reconstruction going on & her unit is small so she said her assessment was low. She has owned the unit since the 70's & says she has no problem keeping it rented. Hope that helps.

Trade,

Thanks very much for going to the trouble to ask your friend about this for me. I appreciate hearing feedback and it really does help me think this through. agian, many thanks.

Lisa