Hold on... back up for just a second. Did I really just type that? Sell a MOBILE HOME for $1 Million (that is 1 followed by 6 zeroes)... Yes, I guess I did just do that. So, what's the deal?
Tucked away in sunny South Florida is little known town (Heck, I never heard of it. And I grew up in Palm Beach County). The town is called Briny Breezes (Apparently, it does really exist because ActiveRain let me post it to the city for About a Region.) It is located just south of Boynton Beach in Palm Beach County. For those not familiar with Palm Beach County cities, this town is almost the mid-point between the Town of Palm Beach and Boca Raton. So, what is sooo special about this little town? Its view. The town is on one of the many barrier islands along the Florida coast line.
With a population just over 500 residents, this little town is about to become extinct. You see the town is mostly mobile homes (just under 500 of them). Some of these residents purchased their piece of paradise for $35,000 (granted that was some time ago), but even so a recent sale could have gone for $150,000. Now, a developer has offered the community $510,000,000 (For those of you not good with numbers... that is just over HALF A BILLION DOLLARS). Yes, I said the community... but the community is run by a business with a board of directors. Each resident owns shares of the business according to lot size and location. And who said investing in a mobile home was a depreciating asset?
While the town is a bit out of place, being surrounded by multi-million dollar homes and high-end high-rise condos, the county of Palm Beach is a little skeptical about the situation. Worries of huricanes and the fact that there is only so many ways on and off the islands are keeping officials from totally approving the plans for development. Plus, there is the small fact that a contract to buy has not yet been made official. (Sorry, Briny Breezians. Just because a majority of you voted to sell does not make you millionaires just yet. Can you believe that 17% of them said no way?).
So, what are these potential millionaires going to do with their new found money? Are they going to invest in another mobile home? Are they going to move into PGA National and become Marc Blasi's neighbors and take him out golfing? Or are they just going to stay right where they are and purchase one of the new condo units that will sit on their former mobile home park? Guess we will just have to wait till 2009 (at least that is what the current proposed contract states).
For more information on Briny Breeze, FL, please visit http://www.city-data.com/city/Briny-Breezes-Florida.html