Quote:
Originally Posted by RickeyD
Your post is bittersweet, yes having the developer still around binds them to keeping things nice around here but I'm apprehensive as to what this will do to my house equity. Over saturation of housing is never a good thing for a variety of reasons plus the current buyers are mostly baby boomers, which will peak by 2027-2032. Who will buy into this paradise after that ? Defined benefit plans are almost obsolete, Social Security cash benefits will be reduced, service jobs are grabbing an ever increasing share of the job market, globalization will continue with an ever decreasing size of the American middle class.
As it is right now, my model home with a golf course view north of 466 can go for less than 350K. South of 466A its more like 475K plus. Same house, same city, same amenities, same everything AND the older model has more property, is closer to all shopping, and hooked to natural gas with CHEAPER TAXES. What accounts for this disparity ? Newer homes seemingly are more desirable and prices are driven up. Newcomers like the smell of new drywall/paint and that pioneer feeling of getting in on the proverbial ground floor.
The new development will do the same to those living north of SR44 what it has to those north of 466.
These are my thoughts.
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This is exactly how I feel as well. It was actually one of the reasons I bought a lower priced villa. Any improvements I make are simply things I want, not in the hopes of future resale. I was wondering if Fenney and the future developments won't be marketed as the "new" Villages.
My villa will go to my son when I die and I expect most people's children will inherit. I'm hoping they'll want to keep it for their retirements and thus keep things up.