JUST HEARD - NO CLOSING COSTS ON NEW HOMES

[darbyduff]

My village realtor just told me that since we were down to TV in March, they are now offering no closing costs and no utilities hook up etc when you buy a new home. She did confirm that the $10,000 and $20,000 discount is only on Designer homes in villages they are closing out. Has anyone been told this?? Anyone just purchase a new home?? What was your experience.

[bamafan]

Darby Glad everything is going smoothly. Just bought our home in Duval July 20th, close on August 30th. We looked at several homes in Mallory Hill and Amelia that had a $20k discount. You could use the discount in several ways. 1. to pay on the bond. 2 to pay on the house. 3. To help make payments your choice. Yes there are no "Villages closing cost" of $10,000, however you will still pay closing costs related to a mortgage if you get one. By the way if you are going to get a mortgage the people at Citizens First Mortgage were very professional, made everything so smooth. We also found out that you pay the CDD ahead so in our case that amounted to $2100. The discounted homes were nice homes, we got a better price in Duval without the discount. We bought a Gardenia with golf car garage in block & stucco cheaper than the discounted Gardenias that we looked at, that did not have Golf Car Garage. Our home was under construction, due to be finished by closing. We looked at both preowned and then new homes. One preowned that we liked cost more than a new home just like it. so it was a no brainer We bought new. We felt that buying in a new neighborhood meant that everyone there was new so new friendships would develop easier, although it is very easy to meet peole in the villages. Talked to my agent yesterday and he said that TV had a very good July sales of @ 300 homes. By the way before signing we took the golf cart we rented and went to the area several times during the day evening and nite to look around. We also checked distances to places, travel times in the cart etc. Hope this info helps you. If we can help you let me know my email is in profile Good Hunting :)

[LG]

YES They are making deals of the century.......

BUT all deals are predicated on inventory they want to move.. Closing cost $2000, 10% discount on home, extended close dates

[darbyduff]

Bama! Oh what a help you have been!!! I asked our realtor point blank. "Can we get any kind of discount on a Ranch?" and she said "No" , "Only on Designer's"!!!!! Is that what you found too???

When we were there in March she was showing us homes in Mallory. At the time we wanted the Gardenia also. She showed us one that they had for $20,000 less which put it just under $200,000. (which we could handle now) but when she called to put a hold on it, it was already sold. :(

If we could get a Designer for "under" $200,000 we'd do it in a heartbeat but I think that's a big pipe dream now. :(

Do you mind if I ask what the Bond is in Duval?? Is there much of a difference in bonds between Mallory, Amelia, Duval, Sable Chase or Liberty Park???? I think those are the new areas although I just read that they are building around Havana. Can't remember the name.

[villages07]

Bonds in the newer neighborhoods (Amelia and Mallory) have been coming in at about 21,000 for the designer home neighborhoods...don't know about ranch sections or villas. For comparison, a year ago, our bond in our section of Sabal Chase was 14 something. All designer homes in that section (for us this is the 3 roads in our immediate neighborhood) carry the same bond...whether the house sold for 200K or $550K...the logic being that the infrastructure costs are shared by the homes and not related to the value of the home.

Bama should be able to tell you what the bond is for designers in new section of duval.

[dadspet]

Just closed on a new Ranch the beginning of August. They were discounting all the ranches we looked at by about the bond price. You could either get the bond paid or the take that amount off the price of the home. The ranch homes had higher bonds in Duval - they were about $20000 if I remember. No closing cost, other then your prorated tax and and your other yearly fees. The Villages picked up all the high price items, sure did make us happy. Did it by mail and it went smooth. We didn't get an extended closing date (ours was 30 days). Wish we did, but didn't think to ask for one. Once you say Ok to the house things sure go into high gear very fast but it worked out OK since the market was up right at that time we had to sell. If I remember correctly they were doing the same for the Villas and Designer homes also.

[darbyduff]

Thanks so much! I am a bit miffed right now because our Realtor definitely said NO REDUCTIONS ON THE RANCH'S >:( >:(

You can bet I will be asking her again on Monday!!!! By the way..could it have been because they were closing out that village and they only had 1 or 2 left. (I'm anticipating her excuse)

[bamafan]

Darby Almost all the new homes we looked at in Mallory, Amelia, or Duval (all designers) had bonds of around 21k. Villager07 is correct the total bond is spread around the total number of homes in the village. It does not matter if you buy a villa, ranch or designer you pay the same bond. The preowned homes we looked at approx 1 to 2 years old had bond balance of about 12 to 14k. The yearly bond payment is about the same. Ours in duval new neighborhood is about 100 to 150 more per year. Seems to me few pay the bond off. We did not see any Gardenias for under 200k. The Gardenias we saw were in the range of 255k and up to 340k. Some had discount some did not discount was 20k plus no closing of 10k. We looked at one Gardenia that was 322k with 20 discount for final price of 302k. The yearly maintainence fee was about $80 a year less in Duval than say Mallory or Amelia. They were all block and stucco. You get a better deal on insurance on block & stucco. about 150 per year cheaper. We got our insurance through the Villages Insurance, very nice works great with the mortgage co. Saw your other post on grocery stores. The new colony center/Publix on 466a is real close to Duval. Will take you about 5 to 10 minutes by golf car from Mallory. Duval to me will be in between Lake Sumter and new town square which is about 3 years away at least. When you check in they will give you a new small map that shows the new square in relation to everything. Buy a new $5. map to. Send me email and I wiil give you a name of person to contact to get a hispeed (legal) golf cart at a good price. Hope this helps. So much info to digest. We wiil be down the end of Sept. to move some stuff Bama

[bamafan]

Darby if the realtor said they have no discounts on Ranchs it may be because they discontinued the discounts or they dont have anymore. The discount we saw were only on Mallory and Amelia. Our agent told me Wednesday last week that TV had sold 300+ home for July. We actually got abetter deal with no discount, than the discounted homes that we looked at. I guess what I am saying is all the homes that had discounts were high dollar homes that were not moving so they were discounted to make them more attractive. A home you might want to consider is the Jasmine. We looked at several in Duval for 200 to 240 a very nice home, Like our agent told us the homes are all the same its the land that changes everything. :)

[darbyduff]

bama -

I miss spoke on the name of the model. It was the Jasmine we liked the best!!!! If we could get one for around $200, we would be really interested. We loved that home!!!!!! Sorry I had miss spoke on your model.

Boy, I really would be interested in that golf club information. My husband is interested in getting a used one for him but I want a new one for me (or I think I do). Would certainly consider anything right now. Send me the information (if you will) Thanks again Bama!!!! :bigthumbsup:

We did know about the bond amount having to do with the size of that particular village. Just wasn't sure if Duval was larger than Mallory. (We're not married to Mallory by the way- Just interested in anything out that way!!!)

[F16 1UB]

Darby,

We too liked the Jassmine. 2 yrs ago they told me 179K. We looked at an Amarillo USA last Jan 07 and was told 191K. Things have changed a lot since then. I keep saying I wish the house in OH was sold so we could make a trip down to TV. It'll happen. Just gotta be patient. I'd prefer the Jassmine but my wife would probably accept anything with 2 bathroom sinks in the master suite and a big plus with planter shelving throughout the lving area. Give me a 1 bedroom house with a 5 car garage. Guy thing ya know. ;D

Steve

[REDCART]

Are you guys really sure that the amount of the bond is linked to the Village? I suspect that it's linked to the CDD which incurred the debt. The larger the debt, the larger the pro-rata share. There are many villages in any one CDD.

[jerseygirl13]

Hello: New to board. I'm 54, female, planning to come visit TV in near future. I do have several questions/concerns. First, WHAT IS "BOND". Second, I am so glad I found this board. Prior to finding it, I had read a few angry words about TV full-timers (which I plan to be if I move there) being disgusted with sooooo many renters coming in an getting the same priv. as residents, taking up too many parking spots, being loud, etc. Is this really the sentiment among many? Thirdly, I am a nurse and plan to work fulltime once I arrive. Any nurses there who can help me determine if there are fair paying nursing positions to be had??? My specialty is . . . . mental health. I'm certified in that field and it's my first love in nursing, so I'd like to continue there. And finally, (too many questions, I know) . . . what do folks think about the future at TV? Once the place reaches 100,000 people, will the building and growth stop? What will the future hold for full-time residents? Any ideas, I'd love to hear.

[LG]

Are you guys really sure that the amount of the bond is linked to the Village? I suspect that it's linked to the CDD which incurred the debt. The larger the debt, the larger the pro-rata share. There are many villages in any one CDD.


YES the cost of the bond ( re Infrastructure cost .. sewer, water, streets, electric, cable, etc ) is by neighborhood or village. Actually by Unit number or Villa Village.

The CDD is separate and is used to support common areas and pay of the debt for the executive golf courses, gold cart path mtn. and recreation centers. In Chatham The Villages sold back to the home owners 2 executive golf course, Chatham Recreation and Mulberry center.. cost them $8M and sold it back @ $50M.......

[REDCART]

LG, I appreciate your thoughts but each Village has no legal standing, it's just the developers marketing of TV. That being said, the individual village could not have any bearing on the bond which was issued by the CDD. The size of the property within a CDD would be more accurate. So that the same size property in Mallory or Virginia Trace or Amelia would be the same because they're all within the same CDD. Now, I have to admit that I've never been to CDD school which is offered to anyone interested. The followeing info was taken directly from the CDD web site.

The Cost of a CDD

The cost to operate a CDD is borne by those who benefit from its services. Property owners within the numbered CDDs within The Villages are subject to a non-ad valorem assessment, which appears on their annual property tax bill from the county tax collector and may consist of two parts—an annual assessment for operations and maintenance, which can fluctuate up and down from year to year based on the budget adopted for that fiscal year—and an annual capital assessment to repay bonds sold by the CDD to finance community infrastructure and facilities, which annual assessments are generally fixed for the term of the bonds. Because costs and services vary depending upon the individual CDD, specific fee information is available for each community.

[darbyduff]

Steve,

Are you related to my husband???? :joke:

My #1 "must have" is an indoor laundry room!!! It's a deal breaker to me if it doesn't. Nothing against anyone who has a garage laundry at all but I'm a bit finicky I guess. A couple of other "don'ts"..Won't be living next door to "Talk Host" Jan in the rail yard, don't want next to the H.S., don't want to know what my neighbors are eating on their lanai (noise factor) and want a 2 car garage.

For all that we pledge:

To be the very best villager's we can be. To not put our nose up to ANYONE no matter where they live. To be the most responsible pet owners, to obey all the traffic laws, to be courteous to our neighbors by turning down the noise, to treat all we meet as if they have been our best friends for years, to have the kind of attitude and home that makes everyone want to be around and visit (Hey, this is starting to sound like the Boy Scout Creed)...but you all know what I mean. My husband and I are the most approachable people I know and can't wait to meet all of you who are like us. (We know all of you are, we've visited twice!!) :bigthumbsup:

[bamafan]

Darby D if you are looking at a Jasmine stlye home they have indoor laundry. I received an email on golf cart was that you. Bama

[dadspet]

"You can bet I will be asking her again on Monday!!!! By the way..could it have been because they were closing out that village and they only had 1 or 2 left. (I'm anticipating her excuse)"

We were looking in early July and have looked for 3 1/2 yrs with the same Realtor (WOW - Wish we bought 3 yrs ago !!!!! ). Knowing the real estate market was down we were only ready to buy if we found the house we liked in the area we loved and if the price was right! It didn't matter if it was new or a resale (a turn key was our preference by far - since we really didn't look forward to buying everything for a new house) as long as it met the conditions we had. After looking for 2 days at For Sale by Owner; Open Houses and resales. Our TV agent was able to show us new homes that met our conditions mush better than the FSBO or Resales on MLS . Was it the time of the year ?> perhaps and are those ranch houses with discounts gone now?> perhaps; Did our TV agent really know what we wanted ?> perhaps but we were after a turn key colony Villa when we started. Were they closing our the village ? - Yes for the one we bought but I do believe he showed us others that didn't look like they weren't closeouts of the villages and the TV agents at many of the open houses did seem to say there were discounts on new house. I really can't say for sure except we were happy with the price (at least as far as you can be ) location and house as we think most people who buy in TVs are.

I think what it boils down to, after looking for over 3 yrs, and seeing prices go up every year we finally came to the conclusion that the Villages provide us with the life style we were after and no other location in Florida came close to us wanting to buy there. We decided we weren't getting any younger (sometimes this is a hard decision to come to) and to buy while we can still enjoy the active life style.

Go for it, I really don't think you'll regret it !

[darbyduff]

Bama - I would like to talk about the golf cart. Let me know.

[darbyduff]

Dadspet - Thanks for your information also. I think your right. Wish we could have purchased 2 years ago!

[bamafan]

DarbyD, Hope everything going well. When we were down in mid July we rented a golf cart from a gentleman name Jim Followell px # 317-258-1241. If you call him and he does not answer he will call you back. I told him I did not want a slooooow golf cart but wanted one that would do the legal limit. He gave us a Yamaha gas with all trimmings Lights, rain hood etc. We rented it from Sat. to Sat for $75.00 The cart was very nice and so was Jim. The only downside was that we had to pick the cart up from him. He was in the historic side. He also sells carts He told me that he appraises for Village Golf Carts. By the way Village golf carts are slow and cost a little more to rent. Let me know if you find someone who sells as I will be looking to buy soon Good Luck

[darbyduff]

Hey Bama - Thanks. We'll call.

We're looking for a used gas also when we move down. Make that 2 used! If anyone knows of anything let me know.

[Hancle704]

Hi jerseygirl13 > Don' t believe everything you hear.TV has grown but so have the number of nursing opportunities. TV Hospital expending from 60 to about 200 beds. Leesburg Hospital and 2 Ocala Hospitals have gone through major expensions in past 5 years. VA also has a clinic in TV. They may not pay NY -NJ salaries, but it costs less to live away from those areas.

About renters, their landlords pay the same fees, taxes, amenities and utilities as full timers.

If you have time when you get here you might want to look into the retired nurses club and the NJ club

[LG]

LG, I appreciate your thoughts but each Village has no legal standing, it's just the developers marketing of TV. That being said, the individual village could not have any bearing on the bond which was issued by the CDD. The size of the property within a CDD would be more accurate. So that the same size property in Mallory or Virginia Trace or Amelia would be the same because they're all within the same CDD. Now, I have to admit that I've never been to CDD school which is offered to anyone interested. The followeing info was taken directly from the CDD web site.

The Cost of a CDD

The cost to operate a CDD is borne by those who benefit from its services. Property owners within the numbered CDDs within The Villages are subject to a non-ad valorem assessment, which appears on their annual property tax bill from the county tax collector and may consist of two parts—an annual assessment for operations and maintenance, which can fluctuate up and down from year to year based on the budget adopted for that fiscal year—and an annual capital assessment to repay bonds sold by the CDD to finance community infrastructure and facilities, which annual assessments are generally fixed for the term of the bonds. Because costs and services vary depending upon the individual CDD, specific fee information is available for each community.


SORRY BUT YOU ARE MISTAKEN..

I have a list of all the Bonds and CDD's and it is BY UNIT number Each is a little different....

CDD BOND
UNIT 141 477.22 20915.33
UNIT 142 435.48 19070.48
UNIT 145 427.13 187700.11

SOURCE COMMUNITY DEVELOPMENT DISTRICT 7

[REDCART]

LG are you related to that Curry person or just having some fun. Take me one step at a time through your logic. Unit numbers or site ID's in sequential order will most likely never be the same size property. So you would expect each one to have a different bond assessment. Are you suggesting that identical size properties with identical homes may have different assessments within the same CDD? If so, there's a basis for appeal. You just haven't established this fact with your data. --George

P.S. Donna, if you're listening, maybe you could interrupt your vacation and spend a few hours in CDD school.

Anyone else know with any certainty how a CDD determine the bond amounts for each of the properties within the CDD. LG has taken the position that the assessment varies from village to village within the same CDD.

[villages07]

I agree with LG's logic.... although he may have said 'unit' where the Villages calls it a section. In Village-speak, a section is a group of houses. In my case, this is all the houses on 3 adjoining streets. We are a section within a CDD. Each section has a different bond, but, all houses within that section have the same bond, regardless of the sales price.

The initial bond is calculated based on the cost of the infrastructure for that section divided by the number of houses in the section. (this is based on my memory, so, no guarantees).

The entire CDD (made up of many sections) establishes it annual maintenance budget. The maintenance fee is similarly calculated on percentages of houses (each section is assigned its portion of the annual maintenance and then each house within the section pays the same amount)

It's still not always clear to me who pays for what, how amenity fees are determined, the annual budget for the central CDDs, how Lake Sumter central CDD interacts with Village Central CDD for the total support structure costs, who owns the executive golf courses, when decisions are made by the developer to sell assets back to the CDD (rec centers, golf courses), where these Bonds are financed (I wouldn't mind investing in these bonds). Lots and Lots of questions...and, I've been to CDD orientation and read all the websites.

Oh well....pay your fees and enjoy the lifestyle. There are lots of talented people ready and willing to get involved.

[REDCART]

Villeges07 and LG thank you for your patient well written response. I'm a little obtuse and the first to admit it.

[jerseygirl13]

Hancle704 - Thanks for the info. Appreciate any tips I can get on nursing jobs in and around TV. As I said, I will have to work f/t and would love to be able to drive a golf cart to work. OMGosh, that sounds unbelievably cool.

Do many people purchase a house and rent it out for a few years before coming down permanently? Hancle, can you give me a website or email address for the NJ retired nurses club? Would appreciate very much.

[LG]

LG are you related to that Curry person or just having some fun. Take me one step at a time through your logic. Unit numbers or site ID's in sequential order will most likely never be the same size property. So you would expect each one to have a different bond assessment. Are you suggesting that identical size properties with identical homes may have different assessments within the same CDD? If so, there's a basis for appeal. You just haven't established this fact with your data. --George

P.S. Donna, if you're listening, maybe you could interrupt your vacation and spend a few hours in CDD school.

Anyone else know with any certainty how a CDD determine the bond amounts for each of the properties within the CDD. LG has taken the position that the assessment varies from village to village within the same CDD.


ENJOY THE FOLLOWING FACTS ABOUT BONDS AND CDD :beer2: :beer2:

YOUR APPOLOGY IS ACCEPTED!

http://i211.photobucket.com/albums/bb121/lylegant/DIST6BONDS.jpg

[Avista]

Do you have data on District 7?

[LG]

Do you have data on District 7?


All are listed here http://www.lylesellsfla.com/frame.shtml?http://root.z57.com/filemanager/uploads/8/4/844a8e8c-9f0a-3421-b9195c7d644283c9.pdf

:welcome: