Calling All Magnolia 9 Residents
One of the arguments used by TimberCreek Investments is that the Magnolia 9 has been zoned B-2 (commercial) since 2000 and that we “should have known…”
I’d like to try and collate some information from residents who have property on the Magnolia course; please use the comments link below to answer the following questions:
1. What date did you close on your property?
2. Did you purchase the property direct from the developer, from a builder or through a private sale; if it was a private sale was a realtor involved?
3. Did you or your realtor conduct any searches to determine the zoning of the land surrounding your property?
4. Did anyone inform you of the zoning?
5. Check your closing papers – do they inform you of the zoning?
Feel free to tell your personal story of why you chose TimberCreek…
1. September 18, 2000
2. From TimberCreek Relator
3. No
4. NO NO NO NO
5. As I am holding the paperwork in my hands now, I cannot find any information that states b-2 zoning. Why in the world would we pay PREMIUM dollars for a beautiful golf course lot it we were told that there could potentially be a commerical building in our back yard. That is crazy!! We could have purchased a wooded lot across the street for half the price!! We feel very decieved!
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Land Purchased from Builder in August 2008
The land appraisal states…
View: Residential / Golf
The development is anchored by the Timber Creek Subdivision which meanders through the sub division…
300XX D’Olive was listed as a comparable, both state Golf Course view.
+ $30,000 value adjustment was used against Rosewood Lane, Daphne (Comparable 3) and Middlecreek Circle (Comparable 4)
The appraiser certifies and agrees that,
I am aware of, and have access to, the necessary and appropriate public and private data, such as public land records for the area in which the property is located.
I guess the bank and the appraiser never found the Commercial zoning as an issue when lending $30,000 above a similar comp, based upon the view.
Any suggestion of B-2 and I would have purchased on a different nine…or looking for a different Bank.
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My answers are long and boring--sent directly to Ian, but I need to comment on Pulpwood's "golf course view" citation from their appraisal. My appraisal also mentions golf course "view", but it additionally refers to my residence as "on the golf course", and includes excerpt from the MLS listing description stating..."one of the best golf course lots...."
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