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Michael
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Clermont, FL
USA
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 Posted - 06/23/2010 : 12:37:23 PM
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Disney announced today plans for a 1000 acre community with homes ranging in price from $1.5 to $8 million dollars. With a down economy and a record breaking foreclosure market Disney is gambling that people will want to live at Disney World. The new community being called Golden Oaks will start taking $25,000 deposits today to be on a waiting list.
http://www.explorethemagic.com/Golden-Oaks.asp
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Michael
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Clermont, FL
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Yensid67
Mouseketeer
Chambersburg, Pennsylvania
USA
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Posted - 06/23/2010 : 5:50:34 PM
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quote:
Originally posted by Michael
Disney announced today plans for a 1000 acre community with homes ranging in price from $1.5 to $8 million dollars. With a down economy and a record breaking foreclosure market Disney is gambling that people will want to live at Disney World. The new community being called Golden Oaks will start taking $25,000 deposits today to be on a waiting list.
Michael:
When I first read this I thought it would be great opportunity to live where the magic lives, BUT when I saw the cost of the homes I thought differently! Who in their right minds would pay that kind of money in such a bad state of economical disaster!? I realize that by making the price tags for the homes expensive, you keep out the riff- raff, but even those with money like that can be riff-raff just as much as those without that type of money!
I giess for the ultimate Disney fan, living just steps from the magic and fantasy would be worth it, BUT AGAIN THE PRICE! And I suppose someone who wants to view it as walking where one of the greatest men walked, but actualy living there would be more awsome!!!!! I guess its a lttle bit of jealousy on my part, but such is life!
I would think that for the money they will be putting out, that it could be put to better use by upgrading/expanding DHS! How I loved the bygone era of DHS...NOW THOSE WERE THE DAYS! They should put the money into bringing back the studios as aa working studios, I think it was more profitable and more crowded than it is now!
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Michael
Forum Admin
Clermont, FL
USA
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Posted - 06/23/2010 : 6:54:47 PM
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Small investment, big return. I look at as if they are farming their land but they are growing houses instead. The price is not that far from other upper scale neighborhoods around here, just ask Tiger. I actually would not have expected it to be any cheaper. Celebration 2.0.
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goodguy23
Mouseketeer
Bloomingdale, NY
USA
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Posted - 06/23/2010 : 11:05:50 PM
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I saw the beginnings of this resort being built last January when I was there. I actually started a thread asking if anyone knew what was going in there. Now I know.
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Eric E. Wilson
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Michael
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Posted - 06/24/2010 : 12:13:35 PM
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I had a lot of questions asking what was going on there and was only aware of the Four Seasons hotel. They've actually been clearing land for awhile now.
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harra
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Posted - 06/24/2010 : 12:31:04 PM
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The people who would pay 1.5-8 million for a home in this economy are people who ARE NOT being impacted by this economy because they are stinkin' rich.
I don't know how I feel about having that kind of demographic living on Disney Property and getting Disney perks. If the CMs thought the Annual Passholders walked around with an air of entitlement, wait till they start hearing from the residents of Golden Oaks
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Ray
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Honeymoon05
WED Club Member
Pittsburgh, pa
USA
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Posted - 06/25/2010 : 06:48:39 AM
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when reading about this community it appears that Disney is intending for these homes to be vacation homes and not primary residences. That makes it even more far fetched in a way. First you need to have really rich people AND they have to be disney fans if they are going to buy a second home there.
That leads me to my question. If a buyer wants to live there year round, can they?
My husband's question: Will they own the house AND the land or just the house?
So how about we all pull our savings and share:) One week every other year for each of us LOL.
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Michael
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Clermont, FL
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Posted - 06/25/2010 : 4:23:47 PM
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No short term rentals... must be longer than 6 months and yes, you can live there year round.I suspect it will be mainly celebrities... John Lasseter comes to mind.
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rgjarrell
WDW Fanatic
Custer Park, IL
USA
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Posted - 06/26/2010 : 11:26:25 AM
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I wouldn't have any idea whether or not spending a few million$ on a house / property here would be "worth it". I would guess that people who are capable of paying a loan on that or purchasing that outright would compare whether or not they would prefer that to other million $ items.
For example, compared to other million$ properties in California or New York or other cities or Texas or something, would you get something there?
I don't see Disney World as a major attraction for people's main home, but possibly a vacation home. However, this would have to be majorly better than some of the surrounding areas. The homes and developments nearby are totally over built and the real estate market is way down, especially around disney.
If it's just a house near disney that you want, there are several properties that are very nice and in the 300k range. (These are also as nice as much more expensive Malibu properties, though).
All in all, Disney usually doesn't "fail", and truth be told, any sale of property would be almost 100% profit. I'm sure they would be able to sell for over 100% return on investment of the development costs of the houses.
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harra
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Michael
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Clermont, FL
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Posted - 06/30/2010 : 2:21:36 PM
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Wayne Brady, he lived right around the corner from there most of his younger life and also worked at Disney World.
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Golden Oaks at Walt Disney World
