Q. I am thinking of buying a lot in Compass Pointe, the private gated community being developed by Bert Exum and Bobby Harrelson. What is the financial status of the developers and does it seem like a good, safe investment? Many amenities are not yet built. Is there a money problem?
A. MyReporter doesn’t provide investment advice. Here’s what we do know:
Compass Pointe is a gated community along U.S 74/76 west of Wilmington. It is being developed by Bert Exum and Bobby Harrelson. Exum and Harrelson are both real estate veterans. Exum developed the Waterford community and Harrelson, Magnolia Greens, both in Leland.
Amenities are being built or scheduled to be built for the development’s 2,200-acre Phase 1, said sales representative K.C. Billings.
A 10,000-square-foot grand lanai has been finished and one of three planned pools. Tennis and basketball courts should be complete soon, Billings said. The 4,800-square-foot fitness center is expected to be ready in the fall, he said.
The first nine or 18 holes of golf are expected to be ready by the end of next year, and the other two pools will be installed in the next few years, Billings said.
There are 11 builders working in Compass Pointe, up from two at the beginning, and a little more than 200 houses have been completed, he said.
Though you can buy lots by themselves, lot-house packages now range from $250,000 to $650,000.
Date posted: July 3, 2013
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