Beware of scams. From what we understand, that's exactly what is being offered to folks in the UK regarding Millstone. We rarely show the place to our clients, as the HOA is questionable at best, feeling you can do better investing in a community that is either finished or at least has a chance of being finished...

I just got 2 short sale listings in Millestone. One is the Mahogany: a 3/2/2, with 2771 SF under air; the other is the Jade: a 4/3/2, 2816 SF under air, with pool, courtyard style. You can see the floor plans at http://www.MillstoneLanding.com.
They have not been posted in MLS as I am in the process to contact the bank.
Please call me if you are interested and let's work out a deal!
Nancy Marrero, GRI
REALTOR
MARRERO TEAM REAL ESTATE
Cell 772-559-728
NancyM4re@gmail.com

Hi Steve: with the developer of the Millstone community in foreclosure, purchase there is a very tricky business including factors about the entire community's success that will also impact that value of any individual home there.
There are many communitiies in Vero Beach that are mature, meaning built out or nearly so with builders either in not in forelcosure or gone from the community as it is nearly or sold out.
Before committing to a purchase in a community not over 50 percent developed and with a developer in foreclosure -- meaning an uncertain future for the community and its owners -- a careful look at other options for the same investment in more built out communities would be the type of due diligence I would conduct were I in your situaiton. $262,, 500 could buy a lot of house in Vero in a communites that are built out, and complete with developer status not impacting individual owners. If you'd like to discuss options, feel free to give me a call or visit our web site at http://www.DaleyandCompany.com
Good Luck! Sally Daley, Broker

Hi Steve, I see on Realtors site that 1 is contingent under contract for 230,000, Few are active $479,990 furnished, $281,000 (They will take offer of 240,000). This one is interesting, seems like very good deal, is now Active on market- Lakefront, for 219,900, MLS# 75547. 2 story, Over 3000 SF. SHORT SALE- TAKE A LOOK AT THIS "EMERALD" MODEL IN MILLSTONE LANDING AND YOU'LL FALL IN LOVE WITH THIS LAKEFRONT HOME. PRIVATE MASTER SUITE WITH ROMAN TUB, HIS/HER SINKS, SEPARATE SHOWER, 2-WALK IN CLOSETS. FORMAL LIVING & DINING ROOM. NOTE THE SIZE OF THE FAMILY ROOM 20X16 WITH HIGH CEILINGS, KITCHEN HAS GRANITE COUNTERS, 42" UPPER CABINETS & SNACK COUNTER. Sold "As-Is".
Please give me a call at 772-360-6671 or email margo@veroflorida.us if you need any help in Vero Beach Florida or have any questions about short sales. I do property management as well, can help you managing your investment.
Thank you
Margo, Goldwell Banker Ed Schlitt Realtors

Steve,
Your realtor should be able to do a comparable market analysis or CMA in Real Estate jargon. Millstone Landing Development itself is in foreclosure. read the homeowners association documents and deed restrictions carefully and ask if this foreclosure will affect existing homes. There are quite a few homes in Millstone that are short sales or in foreclosure themselves. The last home of that size to close in Millstone sold for $ 220,000 in June 2009. I saw a couple with contingencies on them and one that is pending but until they close we do not have access to the sales price data. I daresay they will not be priced higher per sq ft than the ones that have already sold.
The ones listed vary in size and price but I believe they are all built by Shelby homes. They are very nice, newer homes at the South county line. I have not seen any for rent as yet so I could not tell you what you could get but in light of the market in the US anywhere between $1000 to $1800 per month would be my guess..
Feel free to email me anytime directly at nathaliefrankel@msn.com with any questions you may have.
Hope to have been insightful and of help.
Best regards.
Nathalie

Nathalie Frankel
Realtor
Peters, Cook and Company Real Estate
3001 Ocean Drive
Vero Beach,FL.32963