Compass Pointe - Pros and Cons (Wilmington, Leland: renting, mortgages, home sales)
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If you could, maybe also Mike Retiree.
Looking to purchase. After several years, they just opened up several lots, west side, for $275,000/lot. (land only).
I love the amenities in the community but have been informed since Renaissance Group took over the “amenity mgmt.” responsibilities, a golf course was built, club house, pool, etc. Now, Latitudes is closed. Does someone need to purchase a club social membership to dine in Compass Pointe? It was never that way. $5,000 one time initiation fee, not sure about social membership. Monthly or yearly amt? What does it truly include? The Renaissance Group has not been transparent on any costs. They ditched the nine hole course.
What other amenities are being taken away? Love the community for the amenities but see it has tremendously changed during the past year.
I am very aware there are two large communities being built across the way … more than 2,000 units. When does this start? There shall be plenty of heavy equipment building infrastructure and units.
Gated Community: This is how Compass Pointe is marketed. Per some threads on this forum … it is not. If someone reading this who lives in Compass Pointe, can you please opine when the security guards work (hours) at both entrances? Thank you.
It is my belief that Compass Pointe is safe but with all the changes and expansion going on in the area, not sure how the next 3-4 years shall be.
Again, thank you.
Security guards (Greeters) usually work 7 days a week from 7am to 7pm. Those are coincidentally the construction hours. Compass Pointe is NOT a gated community it is a community with a gate. There is a difference....ask anyone who has lived in a doorman building or a real gated community. The attendants here just raise the gate and wave cars in.....sometimes they will ask where a guest is going but they will not call the resident and ask if its ok to let the guest in etc....like a real gated community. Knock on wood, but generally the community is quite safe. Most residents are second amendment afficianados....as is our right.
I do not know how much a "social" membership costs (lowest level) at the golf club - but I do know that social membership plan pretty much only allows you to use the restaurant and attend any social functions at the club. Pool membership and golf privs are not included and there is a monthly fee of $75 or so which is not credited to a
bar bill or food allowance etc - its just a monthly "subscription" fee. I have eaten at the club - its merely OK...I prefer almost any other restaurant in Wilmington but you would have to get into a car and drive. Many golf club members have told me that most courses within driving distance are less expensive to play on than Compass Pointe....not a golfer so I can't speak to course conditions or crowds but the golf course always looks nice and doesn't appear to be crowded.
We had an incredible rainfall last week....mentioned in some of the threads.....No part of Compass POinte to my knowledge was flooded. We do have many retention ponds and there are pumping stations that allow the management to lower the amounts of water in the ponds prior to hurricanes. Anyway, parts of Brunswick Forest and Waterfor in Leland were flooded....there are pic out there of people in kayaks on the streets....the Harris Teeter parking lot was inaccessible as well....cars on Route 74 were off on the side of the road and parts of 74 were under water. Lanvale road was closed due to flooding.
The "sandy soil" that soaks up the water is being replaced wholesale by new developments and pavement. So, yes, for now, it soaks up the rainfall....but in a few years it won't......ask residents of OBX on the beaches north of Southern Shores....development of several 4-5 bedroom with pool houses in Four Seasons of Duck and other such large developments and the paving of former sandy soil areas has cause at least one of the two lanes on the only road going north to be flooded every time it rains. Hurricane Matthew and Ian (?) I think devastated and flooded areas of Duck and further north. Entire streets between the beach and 158 were under several feet of water as was the road.
Oh boy... Well to my knowledge of people living there in CP, even with the last few storms, that within the gates of CP there were and are no issues with flooding. Of course outside county and local roadways may be another issue. So just be prepared and that applies to anywhere, have a few weeks rations or more in your pantry, emergency supplies, etc. And a day or two of road blockage isn't an issue!
For us, based upon all the data we have found and out together, we are about to go into contract at CP for our new home! Good luck to all seeking their new abode! CP has so much going for it, any of those negativities seem slight and not such a big deal. Take the high road and positive outlook rather than look for flaws and you'll see the good outweighs any bad. Compared to other developments, we feel CP rings a lot of bells and check enough boxes that it is to be out home!
Here is something I heard recently from another Compass Pointe resident.....as you may have read, all homes in the county were reassessed by Brunswick County this year to reflect higher valuation due to the constant influx, building etc. The end result was that tax bills have not changed this year because the county lowered the tax multiplier rate per hundred down a bit which resulted in many homes paying the same in real estate taxes this year as last. Good news. Although there will most likely not be another reassessment for another three years, the county can always raise the rate per hundred to generate more tax revenue should that be necessary. Here is the bad news.....one resident told me is because his home value was increased about 25 percent plus, his insurance bill more than doubled. My insurance bill does not come due for another half year-so I don't know the effects on my premium yet. The insurance agent told him the increase reflected increased weather risks plus increased replacement value due to recent reassessment and the increase in cost of building supplies and labor to replace what is now a much more expensive home.
So, you may be escaping higher real estate taxes in NJ, LI or wherever but the increase in your insurance bill may negate the savings....just commenting. Don't come here simply for tax relief and lack of snow. We have lots of building going on here and Route 17 and Interstate 74 are quickly becoming the new LI Expressway (but with 2 lanes).....and little room to expand as needed. The last several years have seen an incredible uptick in local traffic....take that into consideration when choosing a place to live....you may prefer the "downtown" Leland area proper over Compass Pointe, The Bluffs etc if you need to be close to medical facilities, dining and shopping.
Hahaha, well I can tell you NC will have a very long time to approach NY State School and Property Tax rates for homeowners. And traffic? Other than during a brief commute times, I've not seen traffic worth worrying about. Lack of snow is a huge + unless you're not familiar with the ridiculous annoyance of clearing snow every day or two just so you can drive to the store.
NC and Leland check many boxes, and is probably why it's expanding the way it is. I for one will be one of those and gladly so. Nothing scares me here and I look forward to the "Low & Slow"
I have been "watching" CP from afar for around 7 years, knowing that I would need to move eventually. I have stayed in touch with the Salesperson at CP and saw her at the Ideal Living Show in January and she said the "new" area would open up soon. I was contacted in March and was there for the first showcase of North Ridge. I realize that CP is not perfect. Pretty sure no place is. However, when I was there for 4 days, I met the nicest people ever and instantly knew I would love it there. I live in a townhouse and we have our issues with the HOA. Prior to that, I lived in townhomes or co-op...all with issues. I AM excited to one day be a resident in CP. Grateful to have found this site and thread!
I have been "watching" CP from afar for around 7 years, knowing that I would need to move eventually. I have stayed in touch with the Salesperson at CP and saw her at the Ideal Living Show in January and she said the "new" area would open up soon. I was contacted in March and was there for the first showcase of North Ridge. I realize that CP is not perfect. Pretty sure no place is. However, when I was there for 4 days, I met the nicest people ever and instantly knew I would love it there. I live in a townhouse and we have our issues with the HOA. Prior to that, I lived in townhomes or co-op...all with issues. I AM excited to one day be a resident in CP. Grateful to have found this site and thread!
Did you secure a lot in the new North Ridge section? If so we will be neighbors
If I were you I would get any and all assertions by Compass Pointe salespeople in writing as part of your contract.....especially the TOTAL NUMBER OF HOMES TO BE BUILT in Compass Pointe..PERIOD....preservation of any conservation property, proposed "west side" amenities that developer has been "talking" about for ages...etc. Total number of homes is important because Renaissance LIfestyles is in control until 80 percent of the homes have certificates of occupancy or year 2065 whatever comes first.....every time we get close in percentage a new neighborhood appears out of the wilderness....we were told total of 2,000 to 2,200 when we bought....at last annual meeting there were about 1,600 or so homes with cert of occupancy... Renaissance demurred on the exact number and said somewhere around 2,200 to 2,500...shifting the goalposts some....and there is someplace I saw a county approved zoning for over 4,000 homes.....the voluminous HOA documents seem to indicate that development can continue as long as the developer can locate and obtain property that touches or is contiguous with a piece of the existing development. Money talks and there is still a lot of forest behind the recently deforested new North Ridge neighborhood....
Mike - you are correct. Don't rely on the salespeople which is why I speak with the Planning Board. Here's what I know: there are no planned west amenities as per the Planning Board. DOT is in talks with Renaissance right now to fix the west entrance which is a mandatory to get certificates of occupancy for North Ridge. There is potential land/lots that may be developed from North Ridge to Timber Ridge which the Planning Board has required. However, they also said they may not require it if Renaissance comes back and negotiates which they have not yet as of this past Thursday.
Your November meeting with Renaissance will prove be very interesting. Renaissance can exit CP in terms of being your MOA (1) when all the lots are sold (2) the year 2065 (3) at their discretion. It's not very comforting if you ask me.
This coming weekend is the CP showcase to try to sell the last of the North Ridge lots. They are offering free accommodations so they must be desperate to sell. According to the Planning Board, the developer has not submitted any plans to develop behind North Ridge, even thought the land allows for additional development. Should be interesting to see what happens next.
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