REAL ESTATE
The Lowes’ latest project is selling the 35 lots they bought in the private residential
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ANTHONY INSWASTY
community of Bear Creek in Linville, North Carolina. They have already
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sold eight since the Dec. 28 closing.
JOE DESALVO
The Lowes enjoy giving a miniature LED flashlight with their business name to
each client and visitor to their office, which led to Bob Lowe being known as
”The Flashlight Guy” around the Treasure Coast.
In the meantime, the Lowes have taken on a new project. They
closed in December on 35 lots in Bear Creek in Linville, North
Carolina. It’s a private, prestige residential community near Blowing
Rock, Boone and Banner Elk.
“We did our honeymoon in Banner Elk and Beech Mountain,
and that’s where we fell in love with North Carolina,” Sharon said.
“So, we’ve had numerous homes up there and now we’re buying
this project and trying to sell these lots.”
“I think we’ll have all the lots sold in 18 months,” Sharon said.
“That’s our goal and we already have sold eight since the Dec.
28 closing.”
Lowe is quick to share his principles of selling real estate so effectively
and in Bear Creek’s case, so swiftly.
“Honesty. Integrity. And, satisfying the customer,” he said.
“We’re very firm on that.”
Not to mention, visitors and clients can count on receiving the
Lowe’s International Realty Plus LED mini flashlight from
the Lowes.
“He’s known as the ‘Flashlight Guy’ all over Vero and Fort Pierce,”
Sharon said with a smile.
With that said, Lowe is possibly shedding light on retirement
plans?
“I’ve been blessed. We’ve both been blessed,” Lowe said. “I
thank God every day. We talked about that this morning. I’m
going to retire someday — I think sooner than later.”
“It will sell because there’s nothing left,” Lowe added.
It’s on the market for $7 million.
As for the former Holiday Inn site nearby at the northeast
corner of A1A and Shorewinds Drive, Lowe sold it a year ago in
December to an investor in Vero Beach. It’s 11.8 acres with 500
feet on the beach.
“He wants $50 million for it,” Lowe said. “It’s zoned for 36 units
an acre for a hotel, commercial, and commercial hotel. You can
build condos, but they have to be part of the hotel. You can
make a Marriott Residence and sell some as condos to make your
money back. Then they control the rental of it.”
IMPACT FROM NEW BRIDGE
What should be a game-changer for those aforementioned
sites and residential property values on the island is the North
Causeway Bridge replacement project that has been approved by
the Florida Department of Transportation.
The existing two-lane 2,100-foot-long bridge, constructed
in 1963 and including a double bascule over the Intracoastal
Waterway’s main channel, is being replaced with a high-level
4,152.5-foot-long fixed bridge crossing over the FEC Railroad
tracks, Old Dixie Highway and the Intracoastal Waterway.
First approved five years ago, preliminary work has finally begun
after several delays. It should be completed by the end of 2025.
“It will increase the real estate prices,” Lowe said.
Debra Madden, who has been with the Lowes for six years and
serves as office and rental manager as well as being a broker sales
associate, agreed.
“It will be the second largest bridge to island, the other being
the 17th Street bridge in Vero Beach,” Madden said of the bridge’s
impact on the island’s real estate market. “It’ll be a destination.
People will want to go over it.”
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