Hidden Treasures Discovered on NC Crystal Coast

2008-05-06

    In 1996, divers discovered a wreck believed to be Blackbeard’s flagship, the Queen Anne’s Revenge.

    The wreck was found in 20 feet of water in Beaufort Inlet, NC.  Records report the ship ran aground and was lost in June of 1718.

    While Blackbeard and his crew transferred from the Queen Anne’s Revenge to a smaller ship, Blackbeard was killed soon thereafter by sailors of the English Royal Navy in a bloody battle at Okracoke Inlet, (north of Beaufort) on Nov. 22, 1718.

    Blackbeard’s death officially ended the “Golden Age of Piracy” (from 1689 to 1718).  But, the search for the gold, silver and other bounty which the pirates plundered on the high seas continues to this day.

    Almost three centuries later, a new treasure and a new breed of treasure seekers has emerged.  They are not looking for a weathered, water-logged, treasure chest buried beneath the sand dunes.  The land is the treasure they seek -- not what may be buried beneath it.
Buyers – especially baby boomers – scour the North Carolina coast.

    Three families of treasure seekers from three different states have discovered their hidden treasure on North Carolina’s Crystal Coast, within miles of Beaufort Inlet where the Queen Anne’s Revenge ran aground.

    All have purchased luxury condos at Indian Beach, NC at the Grande Villas, an eight-story, oceanfront, luxury condominium mid-rise.  The project is scheduled for completion on Summer 2008 with 86 spacious luxury condos.

A Tale of Three Treasure Seeking Families

    Joel and Charlotte Fortune of Lookout Mountain, TN, bought their condo at the Grande Villas because Joel recently retired.  They want to live on the Atlantic Coast and they discovered the Grande Villas.

    Actually, Charlotte first found the area when she was a student at the University of North Carolina at Chapel Hill in the 1960’s.

    Joel said, “Now our priorities have changed to our retirement and our children and grandchildren.  We plan to use our condo as our permanent home.  It will be a major change since we have lived our whole lives on Lookout Mountain.”

    Retirement was also a major part of the purchasing decision of Carl and Cheryl Rosberg from Waynesboro, VA.

    Carl said, “My wife and I are baby boomers and I plan to retire on December 31, 2008 at the age of 56. We have worked hard and are now ready for some fun.  We live in Waynesboro and plan to keep our primary residence.  But, we wanted a second home at the beach on the east coast.  Typically, we have vacationed at Duck, NC at a timeshare we have had for a long time.”

    “We started out looking at homes at the northern outer banks and then we came to the conclusion we didn’t want to have to worry about maintaining a second home.  So, we began looking for a luxury condo.  We found nothing on the northern outer banks and were elated when we found the Grande Villas.  Only 6 hours from Waynesboro and we get warmer weather in the winter and a great beach with warmer water than the northern outer banks. “

    “We were really excited about the Grande Villas from their web site and talking to Grande Villas sales professional Heather Singleton.   Once we visited the area, we fell in love.  It was exactly what we were looking for -- an upscale condo in a laid back area with plenty of activities for us and our guests.”

A Family Affair

    “We plan to spend time in the cold and warm months at the condo.  The January temperatures are warmer compared to Waynesboro, Virginia.  Our guess is that we will spend approximately a fourth of our time there.  We have two boys, one who is married and has a family.  Both will visit us and they will use our condo themselves and with their friends. Then we plan to make it available for our other family members.  We are really excited to ask family and friends to come to Indian Beach and visit and vacation with us,” Carl said.

    John and Suzanne D’Angelo from East Williston, NY, also discovered treasure at Grande Villas.
John said, “Grande Villas has everything going for it.  It is located in an area that has not, nor will ever turn into an overcrowded, commercialized resort destination.  The area consists primarily of single family and duplex homes, with generations of family vacationers.

    “Grande Villas will be very unique in its offering of elegance and luxury in a place that values 'good old fashioned' family beach fun.”

    D’Angelo said, “Suzanne and I and our 4 children (ages 14, 12, 10, 8) will use our vacation condo for our ‘dream' of spontaneous getaways, on and off season, to our family paradise at the beach.”

Fun in the Sun and Much More

    D’Angelo said, “Our Grande Villas condo provides an investment property with typical oceanfront appreciation along with consistent rental income.”

    When they are not using their condo, Emerald Isle Realty (the on-site rental management company) will rent it to other vacationers.

    The Grande Villas project is a joint venture between Whistler Investment and Greystone Property Development.

    Doug Benach, President of Greystone Property Development, said, “We have worked with Whistler Investments on numerous projects.  We were delighted when they found an intriguing, six acre, oceanfront building site at Indian Beach.  We serve as the financing partner and we bring experience with mid-rise construction like the Grande Villas.  This is solid steel and concrete construction and we have added amenities that will appeal to families with children and grandchildren.”

    Whistler Investments Chairman & CEO Mark Tipton said, “We are always looking for coastal properties.  They are not making anymore oceanfront property.  We liked the topography including its 24 ft. elevation above sea level.  This will give owners spectacular views including sunrises and sunsets.  The site has great drainage.”

    Tipton, a former president of the National Association of Home Builders in 1991 and (to date) the youngest person to hold this position, said, “We already have sold about one third of the condos.  Our studies show appreciation rates averaging 9 to 9 ½ percent in recent years for oceanfront property in this area.  We know the baby boomer market will remain strong for the next 10 to 12 years.”

    Harold Green, partner in the Scollard Group, the marketing firm for the Grande Villas, said, “We think the market for this project will remain strong.  It’s a buyer’s market which means it is a great time to buy.”

    Green said, “I believe several factors or trends will contribute to a strong market: First, boomers are loaded with disposable income. They are not looking for a bigger home.  They want a smaller home with less maintenance. 

    “Secondly, there’s a strong movement of people relocating to the sunbelt.  This trend is accentuated by internet jobs that allow people to work anywhere.  Why not on the ocean?”
Green said, “Owning a second home is a lifestyle choice for many boomers who now have the ability and desire to buy. Many buyers are seeking an escape from the density of the cities where they worked. They want to slow down a little and enjoy a less harried life style.”

    Blackbeard and the Queen Anne’s Revenge sailed directly in front of the present building site of the Grande Villas almost three centuries ago.  You can see artifacts from the ship wreck at the North Carolina Maritime Museum in Beaufort.

    Many buyers, including 30 at the Grande Villas, have found their hidden treasure at the North Carolina Crystal Coast.  These treasure seekers are not looking to the past.  They are looking forward to lifestyle enhancements, solid real estate investments with appreciation potential, and exciting retirement options.

*Christopher Cain is the author of “Road Map to Your Vacation Property Dream” and the editor of the “Vacation Property Owner Advisor” newsletter.  Based in Orlando, he maintains www.vacationpropertyowners.com and can be reached at vacvalue@aol.com.