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Massengale is a popular and busy public park, where the smells of grilled hamburgers and hot-dogs mix with the happy shouts of playing children. Because of its extensive use, it has the worn look of a public park. Nevertheless, it provides access to the southern end of East Beach, and visitors who head north from here will experience the best beach the island has to offer. The sand is hard-packed and suitable for biking.
The park came about due to philanthropy by the Sea Island Company, which was in the process of limiting public access to its beaches and wanted to provide a public beach area for St. Simons residents, but not on Sea Island. The Sea Island Company bought the property in 1945 in an attempt to get the state to build a state park, but it was deemed too small, and the state instead purchased Jekyll Island. In 1955, the Sea Island Company donated the property to Glynn County for the park.
The woodlands of the park and East Beach, supporting Live Oaks and pines, are remnants of the maritime forest on the Holocene fragment of St. Simons. Because of the younger, poorer soil, this forest is much less diverse, compared with the mid-island forests that are growing on richer, Pleistocene soils found west of Bloody Marsh. 
- Directions: From Brunswick, cross F.J. Torras Causeway. Go left on Demere Road to East Beach Causeway. After crossing the causeway, go right on Ocean Boulevard. Massengale Park is on the left.
- Activities: Beachcombing, picnicking, biking, bird-watching, nature study.
- Dates: Open daily 7 a.m.–10 p.m.
- Facilities: Park, picnic tables, restrooms, showers.
- Fees: None.
- For more information: St. Simons Island Chamber of Commerce, Neptune Park, St. Simons Island, GA 31522. Phone (912) 638-9014.
Our street scene is really beginning to come together at Grant’s Ferry Cove. The landscaping is in for our Red Cedar homes on Pipewood and the stucco has been completed on our Bay Laurel homes overlooking the lake and clubhouse. The random width heart pine floors have been installed and the stain will be applied this week.
As you look down Bottlebrush Walk, you can truly see the character of the community with differing rooflines and exterior finishes. Our developers have created a two bedroom one level home, as we have had a number of requests for such. The plans are on the drawing board as I write this update and we can start construction of a custom home within the month. Please stop in to see us at the clubhouse and let us show you the plans and give you the tour. We are conveniently located on Hwy 99 between Golden Isles Pkwy and I-95 from exit 42. Or take Golden Isles Pkwy from I-95 to Hwy 99, turn right and our entrance will be on your right just past Odyssey Lake apartments.
Deficiency Judgment
The lender may seek a deficiency judgment against the debtor when a property sells at public auction for less than the loan amount secured by the property. If the lender prevails, the judgment obtained will apply to all of the debtors’ remaining real and personal property.
REO Properties
REO (Real Estate Owned) are properties that were purchased by the lender at the foreclosure sale. When a third-party purchases an REO property, the lender is the seller. Because lenders are in the business of financing property, not owning and managing a portfolio, REO properties are generally listed at very competitive prices for a quick sale.
REO properties are sold “as is,” with all faults and as suitable for the buyer’s intended use. The seller will generally not negotiate repairs to the property. When a debtor is not financially able to make his note payments, he likely has not been maintaining the property. Therefore, costly deferred maintenance items may have accumulated, which will require attention from the new owner. In addition, the lender does not usually provide a seller’s disclosure, which is not required in Georgia. Should the lender provide such a disclosure, the lender, not having occupied the property, may not be fully aware of adverse conditions. Lastly, the lender will not warranty the condition of the property. Should the buyer take possession and discover a hidden adverse condition, he will not be able to pursue the lender to rectify the problem.
A thorough inspection of the property by a team of professionals, including, but not limited to, home inspectors, termite inspectors, heating and air conditioning experts, and surveyors, will help protect the REO buyer from adverse conditions. However, in spite of a thorough inspection, unknown or unforeseen conditions may be discovered after completion of the sale.
Title to an REO property is conveyed by a Limited or Special Warranty Deed, rather than by a General Warranty Deed. The grantor warrants the title only against defects occurring during the grantor’s ownership and not against any defects existing before that time. Buyers of REO properties should thoroughly examine the public land records pertaining to the property to identify any title defects.
Foreclosures, REO properties and real estate in general offer one of the best values around! Purchasing real estate at today’s prices provides an opportunity to rebuild lost wealth through appreciation as shrinking inventories poise prices to rise. According to Alan Zibel, writing for the Associated Press in an article published in the Brunswick News on November 24, 2009, “Homes sales nationwide are now up nearly 37% from their bottom in January, although they are still 16% below the peak in autumn 2005. At the current sales pace, there is only a 7-month supply of homes on the market and in some areas there are bidding wars.”
For a limited time, buyers will continue to enjoy the best real estate opportunities in a decade:
(1) Interest Rates Below 5%: Competition for money, including the Federal government’s extraordinary deficit spending, will likely drive interest rates up, and soon. But, for a limited time, rates are affordably low. If you are waiting for prices to drop, stop waiting. A 10% decrease in price is required to offset a 1% increase in interest rates. Increasing prices and increasing interest rates are much more likely.
(2) A Pricing “Do-Over”: On certain properties, today’s pricing is on par with pricing from early 2000. During 2005-06, many of our purchasers opined, “If we had only bought in 2002, look how much we would have made on this property!” Our view is that 2002 has come again, as will 2005-06. If you are smart enough to enter the market now, you can have a “do-over!”
(3) Selection: The choices are plentiful in most price ranges. However, since limited new inventory is being added to the marketplace, these choices will diminish with each passing week.
(4) Demand Backlog: People have deferred important real estate decisions for almost three years, particularly the baby-boomers who plan to retire “south.” Improving market conditions will release this pent-up demand, which will absorb more of the available inventory. Prices will likely rise as demand increases and supply decreases.
(5) Tax Advantages: The federal government continues its support of the housing recovery by expanding the tax credit to more buyers and more expensive properties.
Record numbers of foreclosures and falling home prices have created enticing real estate ownership opportunities. Increasingly, consumers are tempted by pricing on foreclosures and bank-owned properties, which may sell for 30-40% below comparable new homes and re-sales.
While foreclosure prices may be “rock bottom,” prudent purchasers weigh the risks involved before choosing a foreclosure or bank-owned property. Foreclosure is a specialized field. Unless you have foreclosure experience, you need a team of competent professionals to protect your interests in the transaction, including a real estate practitioner with foreclosure experience, attorney, tax advisor, home inspector, appraiser, and a general contractor, if extensive repairs are required.
The Mechanics of Foreclosure
Real estate financing includes two contracts: (1) a promissory note, which is the buyer’s personal promise to pay, and (2) a security instrument, which secures the debt with either the title to the real property or a lien on the title. In Georgia, the lender holds “legal” title to the security property until the note balance is paid fully.
The lender has the power to sell the property if the debtor fails to pay the note as agreed. The lender must publish a required notice of the impending foreclosure sale for four consecutive weeks in the newspaper in the county in which the property is located.
The Short Sale
Prior to the foreclosure sale, the lender may permit the delinquent debtor to sell the property to a third party for an amount less than the note balance.
Application for a short sale reverses the process by which the debtor qualified for the original loan. The debtor must prove to the lender that (1) he has neither the income nor the assets to make the note payments as required, and (2) the property will not sell for at least the amount owed.
Any debtor considering a short sale should seek the guidance of a real estate professional who has successfully closed short sale transactions.
The Foreclosure Sale
Foreclosure sales are conducted on the first Tuesday of each month, between 10AM and 4PM, “at public outcry” on the steps of the courthouse of the County seat where the property is located. During the auction, bids are opened to third-party purchasers. The lender, or his representative, will be present at the sale and will bid for the property if other bidders do not offer at least the amount owed. Interested purchasers may bid against each other and against the lender.
Once the foreclosure sale has been concluded, the debtor’s interest in the property is terminated; Georgia does not provide for redemption of the property following the sale.
Disadvantages of buying property at the foreclosure auction include: (1) not being able to inspect the property or the public records pertaining to the property prior to making the purchase offer, (2) purchasing the property in its present condition without a seller’s disclosure, (3) assumption of unknown liabilities, including unpaid property taxes, and (4) cash or cashier’s check required for payment. All sales are final!
Last night I had the pleasure of attending a barbecue with Hodnett Cooper associates at High Bar Retreat. What a fabulous property! To my surprise, at the end of a long dirt road I discovered the perfect combination of luxury and privacy… the pleasures of camping with all the comforts of a Ritz Carlton.
The architect and owners of High Bar did a magnificent job with the details, furnishings and overall ambiance. Brick pavers lead the way between each guest cottage and converge at a giant fire pit surrounded by Adirondack chairs. The guest cottage bathrooms each feature double vanities with hand painted sinks – each different and unique. The ceilings are vaulted with exposed wood beams. Even the smell of wood inside is fabulous!
I’m secretly (okay, not so secretly) hoping for an overnight invite so I can personally test out the gourmet kitchen. I can image sharing many memories at this retreat with friends, family, and a few good books. And believe me, I am not at all the “outdoors” type. There is something incredibly elegant and peaceful about this particular place that just works.
But, for the “outdoors” types, High Bar is situated on 200+ acres with ample opportunities for hunting, fishing, kayaking, boating, etc. A beautiful, sugar-white sand beach on the bank of the Satilla River lies just downhill.
If you are in the market for a unique, one-of-a-kind hideaway, you owe it to yourself to check out High Bar Retreat. An absolute steal at $995,000.
by Dick Yarbrough, Macon Telegraph
Original story published on December 1, 2009.
Click here to view original article.
This is the story of three wise men. They do not come bearing gifts of gold and myrrh and frankincense. Their gifts are service, intelligence and integrity. They don’t have exotic names such as Bithisarea, Melichior, and Gathaspa. Theirs are ordinary names: John, Raymond and Roy. But there is nothing ordinary about them.
All three are World War II veterans, a part of the Greatest Generation. One lives in northeast Georgia, one in deep south Georgia and the third resides on the coast. Two are business entrepreneurs; the other a retired college president. One is 90. The other two soon will be. All three are strong family men, devout in their faith and still have a zest for life. They also have something else in common. All three have had a profound influence on my life.
John Jacobs is from Gainesville and is a successful media executive. He turned a small radio station in Gainesville into a broadcasting and Internet conglomerate now operated by his children. At an age when he could be enjoying the financial fruits of his labor, John remains a “go to” guy in the Gainesville area. More institutions in Hall County than I have space to list owe their successes to this man’s willingness to share his time, talent and tithes, not for personal glory but because he believes in giving back.
Dr. Raymond Cook of Valdosta turned my life around. When I was a freshman in college and ready to drop out of school, I found myself in Dr. Cook’s literature class. To say the man can teach is to say Michael Jordan can dribble a basketball. I was totally mesmerized by him. Thus, when asked to analyze the poem “Trees” by Joyce Kilmer, I decided to wing it and impress him. Bad idea. This normally kind-natured man peeled my hide in front of the class.
I cannot tell you specifically what is wrong with “Trees” today, but take my word that it lacks something. I still have the scars to prove it.
When Dr. Cook finished with me and got me to admit that I didn’t have the foggiest idea what I was talking about, he looked at me sternly and said, “Mr. Yarbrough, from now on, think before you speak.” It may have been the best advice I ever received and saved my career more than once.
Four decades later, after reading “Tuesdays with Morrie,” I looked up this good man to tell him what he meant to me. I am pleased to say that we have become fast friends and e-mail correspondents. He still dispenses wise counsel. We just don’t discuss “Trees.”
Roy Hodnett, like John Jacobs, is a highly-successful and self-made entrepreneur. He operates Hodnett-Cooper, a real estate firm headquartered on St. Simons Island. Admittedly, it has been a rough time in the real estate business, but Roy Hodnett has managed to steer his firm through the tough times where others have failed. Some of that is due to a shrewd business sense he developed while pulling himself up by his poor bootstraps. Much is due to how he treats people. Whether you are a U.S. senator or a cranky customer, it doesn’t matter. He treats everyone with kindness and respect. His handshake is as good as any real estate contract you will ever sign.
I have more sunsets behind me than sunrises ahead, but I hope I am never too old to learn. From John Jacobs, I have learned that to whom much is given, much is expected. Dr. Cook taught me that talking is best done only after a good deal of thinking. Roy Hodnett has shown me that one can succeed in business and be a kind, gentle person at the same time.
Ironically, I don’t think John Jacobs, Raymond Cook and Roy Hodnett have ever met. That’s a shame. They would enjoy each other’s company immensely. What is important, however, is that they have made this a better world by their being here and they have made me a better person by sharing with me their talent, their wisdom and their goodness.
Thank you, wise men.
