New Home Gouging?

[justjim]

A friend of mine closed on his home just six months ago in TV. He "swears" that prices on an exact Designer home like his has gone up in price 30% in the last six months. He says, "The Developer is gouging people".

$250,000 Designer home with a 30% increase would now cost $325,000. My friend is convinced this is true and I have no reason not to believe him as He is not one to make "things" up. I have no valid data to back him up.

Assuming this is correct, is the Developer gouging people on new homes? :shrug:

[l2ridehd]

Not true. Homes have gone up around 10% over the past year. Varies a bit by model, but only a % or so. However lets assume market demand caused the 30% increase. Real Estate has always been market driven so not sure why any % increase would be gouging?

Ask your friend to sell you his home at 80% of market value and see how quick he changes his thinking. He will sell it at the market no more, no less, and if you accuse him of gouging, do you think he will agree?

[karostay]

Supply and demand ,Hope the real estate taxes don't follow

[skip0358]

Here's another thing. Property prices have increased which is a big part of the price jump. The basic house alone has seen about a 10% increase. They're also selling like hot cakes. I was out yesterday in the new section off Hillsbourough and the contract were working like crazy to keep up with the load.

[Indydealmaker]

Are not the new home prices only quoted on specific lots? All lots are not equally valued, thus an identical structure could have a different price.

[justjim]

Are not the new home prices only quoted on specific lots? All lots are not equally valued, thus an identical structure could have a different price.

True, you have to assume lots have gone up too. I know his is an interior lot---I believe an extra 10 foot in the back because of a birdcage addition.

[ilovetv]

Regarding "He says, "The Developer is gouging people".......

The developer is probably blamed for the sun setting earlier this time of year, too.

The fact is, no home buyer buys a new home here and writes a check for it with a gun to their head. Any day of the week, a buyer can buy a slightly used almost-new home from an owner or MLS real estate broker/agency, and they'll have a "new" home that has all the enhancements already done and they'll be in a neighborhood that is established and close to one of the town squares.

If new home buyers are paying "too much" and "getting gouged", it's their own fault......or maybe, knowing how prices are a lot higher on either coast, these new home prices seem like a bargain compared to what they're used to seeing in NY or CA, MA, etc. Often, a $300,000 designer home here would cost two or three times that amount in another state, and it would be stick-built and not concrete..

[Bonnevie]

all I know is that I could have bought a new 2-2 courtyard villa (least expensive model) in May for $165000. Now same type model, same type lot, is $183000.

[dillywho]

Are not the new home prices only quoted on specific lots? All lots are not equally valued, thus an identical structure could have a different price.

We have been here just short of 10 years. When we bought our lot, we had to pay an extra $1000 to get a lot facing west so that our lanai would be on the east. The week after we put down on our lot, the prices went up $8000.

Just as someone else noted, it is market driven and also depends on supply and demand. Houses here cost much more for basically the same house than in Amarillo. Lots of things factor into home prices.

Price gouging refers to suddenly raising prices ridiculously high (i.e. water, gas, etc.) when a disaster such as a hurricane, earthquake, flooding, tornado, etc. occurs. Water and gas for instance are considered necessities rather than choices to have or not have.

[rhood]

You should have bought it in May ! !

[Indydealmaker]

True, you have to assume lots have gone up too. I know his is an interior lot---I believe an extra 10 foot in the back because of a birdcage addition.

I wonder, too, if lumber prices here are much of a factor in pricing. Since our homes are largely block, with some metal studs mixed in throughout the house, maybe the inflation in lumber is discounted a bit. I remember last fall that lumber took a 40% jump.

[perrjojo]

Are not the new home prices only quoted on specific lots? All lots are not equally valued, thus an identical structure could have a different price.
So true. Every square inch of the lot increases value. A lot that is only a few feet wider or deeper can cost considerably more.

[graciegirl]

I am glad my friend bought his patio villa when he did. The prices on new AND used really went up in recent months because everyone wanted them.


Poor developer. Everyone picks on him.

[njbchbum]

does anyone really believe that the developer has any NEED to gouge any buyer?

[Barefoot]

A friend of mine closed on his home just six months ago in TV. He "swears" that prices on an exact Designer home like his has gone up in price 30% in the last six months. He says, "The Developer is gouging people".

Why are people so critical of the Developer? :ohdear: Real Estate has always been market driven and price increases are not gouging! Every builder in America sells inventory at market price, which is what purchasers are willing to pay.

Gouging implies taking unfair advantage of someone. There are many other retirement communities around that offer lower prices! There is no gun to anyone's head.

[Lovey2]

Not true. Homes have gone up around 10% over the past year. Varies a bit by model, but only a % or so. However lets assume market demand caused the 30% increase. Real Estate has always been market driven so not sure why any % increase would be gouging?

Ask your friend to sell you his home at 80% of market value and see how quick he changes his thinking. He will sell it at the market no more, no less, and if you accuse him of gouging, do you think he will agree?

Excellent answer!

[golf2140]

I hope they keep going up. My kids will love it !!!!!

[ilovetv]

does anyone really believe that the developer has any NEED to gouge any buyer?

People will pay a lot to get away from weather like a blizzard in May:

Photos: May winter storm dumps record snow on SE Minn. | Minnesota in Photos | Minnesota Public Radio News (http://minnesota.publicradio.org/display/web/2013/05/02/regional/photos-se-minnesota-snow#4)

[Lovey2]

Why are people so critical of the Developer? :ohdear: Real Estate has always been market driven and price increases are not gouging! Every builder in America sells inventory at market price, which is what purchasers are willing to pay.

Gouging implies taking unfair advantage of someone. There are many other retirement communities around that offer lower prices! There is no gun to anyone's head.

Again...excellent answer. I'm only here a short time and I hear a lot about "The Morses" and their empire. I say God Bless them, and I wish I had this fabulous idea and the wherewithal to bring it to fruition. All of my expenses here are less than where I was, and I didn't have ANY of these amenities at my disposal.

[BarryRX]

A friend of mine closed on his home just six months ago in TV. He "swears" that prices on an exact Designer home like his has gone up in price 30% in the last six months. He says, "The Developer is gouging people".

$250,000 Designer home with a 30% increase would now cost $325,000. My friend is convinced this is true and I have no reason not to believe him as He is not one to make "things" up. I have no valid data to back him up.

Assuming this is correct, is the Developer gouging people on new homes? :shrug:

A really poor choice of words. Gouging occurs when someone sells a vital commodity at exorbitant prices, usually after a disaster. For instance, someone selling bottled water at $20 a bottle after a hurricane. No one forces anyone to buy a home here. In the real estate market, supply and demand are the factors that matter most. The developer would be a fool to sell his homes for less money than they are worth on the open market.

[LndLocked]

Why are people so critical of FLIPPERS? :ohdear: Real Estate has always been market driven and price increases are not gouging! Every flipper in America sells inventory at market price, which is what purchasers are willing to pay.

Gouging implies taking unfair advantage of someone. There are many other retirement communities around that offer lower prices! There is no gun to anyone's head.[/quote]

I used Barefoot's posting with a little editing to make a point. :laugh:

[ilovetv]

Why are people so critical of the Developer? :ohdear: Real Estate has always been market driven and price increases are not gouging! Every builder in America sells inventory at market price, which is what purchasers are willing to pay.

Gouging implies taking unfair advantage of someone. There are many other retirement communities around that offer lower prices! There is no gun to anyone's head.

This is totally correct. But I meet many people here in TV who have never worked in a private-sector or small business, to actually see income versus expenses.

[justjim]

Why are people so critical of FLIPPERS? :ohdear: Real Estate has always been market driven and price increases are not gouging! Every flipper in America sells inventory at market price, which is what purchasers are willing to pay.

Gouging implies taking unfair advantage of someone. There are many other retirement communities around that offer lower prices! There is no gun to anyone's head.

I used Barefoot's posting with a little editing to make a point. :laugh:[/QUOTE]

True an uninformed purchaser will buy at a Flipper's price but not most of us here on TOTV who will do their due diligence. :beer3:

[OBXNana]

Gouging is when a hurricane hits and stores raise the price of water to $15.00 per gallon. We need water and have to pay the price. Free enterprise allows anyone to raise the price to whatever someone is willing to pay. As long as people continue to scoop up property at the rate they are in The Villages, the developer has the right to ask what he charges. Do I like it as a person getting ready to buy? Of course not, but it is his right. It is also my right to not buy. But, it's also an investment that can only appreciate in value as the boomers continue to age and we will be making that business decision.

[redwitch]

I'm no fan of the developer. I admire the business acumen that created this bubble. I don't admire some of his business practices. However, this arena is not one where he is being unfair or gouging. Real estate is market driven. If people thought these prices were too high, they wouldn't buy and the Morses would lower their prices accordingly. Plain and simple.

[billethkid]

gee I always thought increasing property values were a positive thing.

Is the developer responsible for the increased price of bread? Gasoline?

Supply and demand......does not = gouging.

What is it called when the prices are lower than one expects......surprise!!!!!

btk

[Bogie Shooter]

A friend of mine closed on his home just six months ago in TV. He "swears" that prices on an exact Designer home like his has gone up in price 30% in the last six months. He says, "The Developer is gouging people".

$250,000 Designer home with a 30% increase would now cost $325,000. My friend is convinced this is true and I have no reason not to believe him as He is not one to make "things" up. I have no valid data to back him up.

Assuming this is correct, is the Developer gouging people on new homes? :shrug:

I think you should go back to your friend and share what the posters have said. He needs to remove the "gouging" from his story. What do you think??

[Bonny]

Woo Hoo !! Love all of these posts. It means the value of my house has gone up & I love it ! :pepper2:
Not that it matters because I would never move out of the Villages & I love the house I'm in ! :laugh:

[Indy-Guy]

A friend of mine closed on his home just six months ago in TV. He "swears" that prices on an exact Designer home like his has gone up in price 30% in the last six months. He says, "The Developer is gouging people".

$250,000 Designer home with a 30% increase would now cost $325,000. My friend is convinced this is true and I have no reason not to believe him as He is not one to make "things" up. I have no valid data to back him up.

Assuming this is correct, is the Developer gouging people on new homes? :shrug:

If the developer were now selling homes at 30% less than your friend paid for his what would he call him.

In 2006 many people purchased in The Villages then in 2008 the prices went into a nose dive. Some of those people are just now getting their home values back to what they paid in 2006. I think I have my years correct if not I am sure someone will let us know the correct dates. I purchased in May of 2005 and the prices went up like mad for a couple of years after 2005.

The developer has a better grasp on the rate of sale than perhaps any developer in the country. As he raises prices from month to month he watches the rate of sale if there is no slow down he will raise them again until he notices a slow down then he will adjust accordingly.

I used to go to sporting events and purchase tickets from scalpers. I did this for at least 40 years. In the 70's I would purchase great seats for twice the face value that would be a $15.00 ticket for $30.00. I often wondered how long it would take the team owners or University to figure out they were selling an item (ticket) for $15.00 and some one else is selling it for twice the face value. Well they have figured it out because I wouldn't think of pay what they are selling them for now.

I had Indianapolis Colts tickets 14 rows off the field when they first came to Indy. I gave them up when I purchased in The Villages the same seats were $150.00 each. The Colts figured it out and still fill the place.

In 1980 I purchased NCAA final four tickets 3 rows off the floor for $100.00 and was told by friends that I was crazy. I told them I wish I could sign a contract for those same seats at $100.00 for the rest of my life. Those same final four seats now would go on the street for around $4,000.00

I know what does sport tickets and homes have in common? I just got carried away.

[Golfingnut]

It is human nature to take advantage. We all must be vigilant and protect ourselves from anyone and everyone that wears the title of SALES.

[missypie]

My former home has also gone up quite a bit since we sold. So for our situation it is still an even keel.

[Dr Winston O Boogie jr]

If the developer or the seller of anything for that matter, with a few exceptions, is gouging people, then people will stop buying from that seller.
The simple little law of supply and demand explains so much.

[peggyb]

We should all be happy about the increases...means our values are climbing

[janieb]

People will pay a lot to get away from weather like a blizzard in May:

Photos: May winter storm dumps record snow on SE Minn. | Minnesota in Photos | Minnesota Public Radio News (http://minnesota.publicradio.org/display/web/2013/05/02/regional/photos-se-minnesota-snow#4)

I left the Minneapolis area in August of 2011 but have been back a few times. I was there last April 16th - 22nd, I went to NYC for 4 of those days but there was quite a snow storm on the 18th the day before we left for NY (also the day we closed on our house in The Villages) and then another one on the 23rd when we got back. I left MN to move to MI but now I can't wait until December so I can get out of here and enjoy the warm weather and lovely people of The Villages for the winter.

[2BNTV]

When I was looking to buy in May, a new patio villa was 142K not including the 12K bond and having to furnish it.

Last week, I saw a new patio villa for 179K.

The market have started to rise dramatically on new homes in the span of the last few months. Pre-owned have risen about 10%. If one procastrinates, it will cost even more. IMHO

[justjim]

When I was looking to buy in May, a new patio villa was 142K not including the 12K bond and having to furnish it.

Last week, I saw a new patio villa for 179K.

The market have started to rise dramatically on new homes in the span of the last few months. Pre-owned have risen about 10%. If one procastrinates, it will cost even more. IMHO

2BNTV---(142K to 179K) Thats about 26% increase in six month all things being equal. That is a significant increase in a fairly short period of time. Yes, I agree good for current owners and not so good for those planning to buy in the near future.

We are in the so called "Final Phase" for new homes. The Developer of TV is certainly using this as a marketing tool and is raising prices accordingly. Will supply any time soon out distance demand?

The interesting question is will these higher prices be sustained following build-out. I doubt you can find a precedent for what is currently happening here in TV.

[downeaster]

Gouging is when a hurricane hits and stores raise the price of water to $15.00 per gallon. We need water and have to pay the price. Free enterprise allows anyone to raise the price to whatever someone is willing to pay. As long as people continue to scoop up property at the rate they are in The Villages, the developer has the right to ask what he charges. Do I like it as a person getting ready to buy? Of course not, but it is his right. It is also my right to not buy. But, it's also an investment that can only appreciate in value as the boomers continue to age and we will be making that business decision.

Spot on, OBXNana.

Here is part of Wikipedia's definition:

Price gouging is a pejorative term referring to a situation in which a seller prices goods or commodities at a level much higher than is considered reasonable or fair. This rapid increase in prices occurs after a demand or supply shock: examples include price increases after hurricanes or other natural disasters. In precise, legal usage, it is the name of a crime that applies in some of the United States during civil emergencies. In less precise usage, it can refer either to prices obtained by practices inconsistent with a competitive free market, or to windfall profits.

[Carl in Tampa]

A friend of mine closed on his home just six months ago in TV. He "swears" that prices on an exact Designer home like his has gone up in price 30% in the last six months. He says, "The Developer is gouging people".

$250,000 Designer home with a 30% increase would now cost $325,000. My friend is convinced this is true and I have no reason not to believe him as He is not one to make "things" up. I have no valid data to back him up.

Assuming this is correct, is the Developer gouging people on new homes? :shrug:

You now have four pages of reasoned and rational replies which can be summarized as NO, the Developer is not gouging people on new homes.

:posting:

[JB in TV]

When I was looking to buy in May, a new patio villa was 142K not including the 12K bond and having to furnish it.

Last week, I saw a new patio villa for 179K.

The market have started to rise dramatically on new homes in the span of the last few months. Pre-owned have risen about 10%. If one procastrinates, it will cost even more. IMHO

When we were looking here in Dec 2012, we briefly considered a patio villa, the cheapest ones were about $145,000. IIRC Today, 10/28/2013, this is the cheapest patio Villa:
VNH# 959014
Colony - 2 BED 2 BATH
3*** CARRABELLE CT
Village of Collier
Price: $148,734

With that said, as others have pointed out, it is very hard to compare anything other than a villa, as lots and included features are so varied on all the other home series. With Patio Villas, it is easier to comapre "then and now", as there are somewhat less differences in lots. In Cottages and Designers, lot size, corner, or inside lot, home orientation N W S E etc), how it lines up with the back yard neighbor, cabinet choices, exterior elevation, etc, etc, etc. That doesn't mean that the prices are not going up. Its possible that the developer keeps at least one low priced Patio villa for advertising purposes.

[manaboutown]

Home prices are rebounding in many desirable locations. According to Trulia, from 7/13/13 to 10/13/13 home sales prices increased 14.6% in Newport Beach, CA. Over the last year sales prices increased there 26.8%. Since I currently own a Newport Beach home this makes me quite happy. Yay! Yippee!

The Villages is also a desirable location. Moreover, its target purchaser demographic comprises many baby boomer retirees. Since they are so numerous and relatively affluent, their numbers as well as their desire to relocate to a gentler climate and "free" golf all drive the price of homes here. To further compound and support price appreciation The Villages is additionally desirable for its many amenities, relative personal safety and so on.

[gpirate]

A friend of mine closed on his home just six months ago in TV. He "swears" that prices on an exact Designer home like his has gone up in price 30% in the last six months. He says, "The Developer is gouging people".

$250,000 Designer home with a 30% increase would now cost $325,000. My friend is convinced this is true and I have no reason not to believe him as He is not one to make "things" up. I have no valid data to back him up.

Assuming this is correct, is the Developer gouging people on new homes? :shrug:

Mostly true. I have been following home prices for over a year. Here is my opinion and why.
1. High demand. Used homes have increase as well. Good for sellers.
2. People coming out of the NE & West Coast selling homes for large amounts of money think they are getting a bargain.
3. Offer more things then any 55 and over community I have found.
4. Disadvantages to present home owners: Your taxes will be going up as values continue to increase.

[Bogie Shooter]

2BNTV---(142K to 179K) Thats about 26% increase in six month all things being equal. That is a significant increase in a fairly short period of time. Yes, I agree good for current owners and not so good for those planning to buy in the near future.

We are in the so called "Final Phase" for new homes. The Developer of TV is certainly using this as a marketing tool and is raising prices accordingly. Will supply any time soon out distance demand?

The interesting question is will these higher prices be sustained following build-out. I doubt you can find a precedent for what is currently happening here in TV.

I think the precedent is right here in TV. In the period 2001 to 2005. There were dramatic increases in both the new and resale prices.

[justjim]

I think the precedent is right here in TV. In the period 2001 to 2005. There were dramatic increases in both the new and resale prices.

Prices did increase during the period you describe. We purchased our first home in TV in spring of 2006. At that time, the closing costs included utility hook up and some other costs that normally was paid by the Developer up front and added to the cost of the house.

I remember having "sticker shock" at closing. The Developer changed that policy and added those costs to the up-front cost of the house a few months later.

In a few months the "housing bubble" burst and prices across the county plummeted. TV was not hit near as hard as the rest of the country.

When interest rates go up (and someday they will) could we have another "bubble" in housing? In the meantime, prices continue to climb in TV and as one post indicated----higher taxes for home owners will soon follow.

Gouging may be a bit strong---I prefer to characterize our current dramatic price increases here in TV as "over exuberance" on the part of the Buyers. To those that study history and trends, does this sound familiar?

[graciegirl]

It is the saga of real estate prices, many times repeated in my lifetime.

It is the barometer of the economy.

[Villages Kahuna]

The fact that The Villages is nearing build-out has not escaped the attention of buyers, of both new and pre-owned homes. The state of the financial markets and interest rates is supportive of a buying decision by people who have decided they want go live here and don't want to be "left out". There's a reason why 300-400 new homes are being built and sold each month.

The prices on pre-owned homes have escalated as well. Zillow's estimate of the value of my own home has increased by almost 20% in the last year alone! I'm sure that's an underestimate as Zillow has no way of incorporating the value of premium lots into their estimates. Friends of ours recently sold their well-located and completely professionally furnished courtyard villa in only one day for $48,000 more than their asking price. Three bidders had an intense bidding war until there finally was a winning buyer.

How much of that sales premium was an initial underpricing and his much was buyer exuberance? All I can say is that the initial asking price was well supported by recent comps. Our friends were quite satisfied with the agreed upon asking price and their neighbors thought it was grossly overpriced.

Frankly, I doubt that the developer has increased their target profit margins. They've remained at about 27% for a long time. I do believe that the cost of land and construction materials and labor has increased however. Take a look at the bonds on newer houses compared to those built several years ago. The bond is straight ad valorem split of the cost of utility construction and reflects only the cost of installing utilities, no profit included. We have a Lantana and the bonds on new Lantanas being built in the new southern end of The Villages are more than double our bond on our seven-year old home.

While the developer might have pulled back on any sales discounts or spiffs as now being unnecessary to sell houses, I doubt very much that they are purposely gouging new buyers.

[Bogie Shooter]

The fact that The Villages is nearing build-out has not escaped the attention of buyers, of both new and pre-owned homes. The state of the financial markets and interest rates is supportive of a buying decision by people who have decided they want go live here and don't want to be "left out". There's a reason why 300-400 new homes are being built and sold each month.

The prices on pre-owned homes have escalated as well. Zillow's estimate of the value of my own home has increased by almost 20% in the last year alone! I'm sure that's an underestimate as Zillow has no way of incorporating the value of premium lots into their estimates. Friends of ours recently sold their well-located and completely professionally furnished courtyard villa in only one day for $48,000 more than their asking price. Three bidders had an intense bidding war until there finally was a winning buyer.

How much of that sales premium was an initial underpricing and his much was buyer exuberance? All I can say is that the initial asking price was well supported by recent comps. Our friends were quite satisfied with the agreed upon asking price and their neighbors thought it was grossly overpriced.

Frankly, I doubt that the developer has increased their target profit margins. They've remained at about 27% for a long time. I do believe that the cost of land and construction materials and labor has increased however. Take a look at the bonds on newer houses compared to those built several years ago. The bond is straight ad valorem split of the cost of utility construction and reflects only the cost of installing utilities, no profit included. We have a Lantana and the bonds on new Lantanas being built in the new southern end of The Villages are more than double our bond on our seven-year old home.

While the developer might have pulled back on any sales discounts or spiffs as now being unnecessary to sell houses, I doubt very much that they are purposely gouging new buyers.

The size of the home has nothing to do with determining the size of the bond.
Cost of the infrastructure and the number of units in the district are the primary basis for determining the bond amount.

[e-flyer]

Frankly, I doubt that the developer has increased their target profit margins. They've remained at about 27% for a long time.

Now I see why the Morse's are multi-billionaires. If you take the average of the current house sale prices, $200k x 300 sales per month thats $15 million a month profit. But to that aspect, I say good for them! They had the vision, took the risks, and are now reaping the benefits for their hard work.

[Bonny]

Now I see why the Morse's are multi-billionaires. If you take the average of the current house sale prices, $200k x 300 sales per month thats $15 million a month profit. But to that aspect, I say good for them! They had the vision, took the risks, and are now reaping the benefits for their hard work.

And we are living the dream !! :D

[ganative]

Let's not forget about the approximately 7 million a month in amenity fees taken in, I'm wouldn't be surprised if there's a couple of million a month profit there as well. Kudos to them for some wise choices. Plus all the side businesses....of geez. ......

[Villages Kahuna]

....Disadvantages to present home owners: Your taxes will be going up as values continue to increase.I might differ a bit with you on this one, at least on the reason for increased real estate taxes.

My taxes have declined each year that I've lived here, a condition that can't and won't continue. The reason is that real estate taxes are assessed in arrears and so long as The Villages continued to grow at a rapid rate, taxes were being collected on more homes than were the basis of the total assessed valuations which were the basis of the budget. As TV grew at a rate faster than increased spending voted by the county board and the school district, taxes declined. That won't continue as The Villages approaches build out.

But over the last 6-7 years I have observed a very conservative county board which has produced superb services without overspending. They have been very selective and very thoughtful regarding county spending. So while taxes are likely to increase as The Villages builds out, from what I've observed I'd be surprised if it was more than the rate of general inflation. I'd be willing to bet that this county board won't spend just because they are receiving more tax receipts resulting from escalating home values.

[villagerjack]

A very nice Courtyard Stoneybrook GC lot on Kenya 4 large Corner lot Bonjta Villas off Canal and Bonita Blvd is for sale for $349,900. Great condition. Not mine.

[Villages Kahuna]

The size of the home has nothing to do with determining the size of the bond.
Cost of the infrastructure and the number of units in the district are the primary basis for determining the bond amount.You're right. I confused the explanation by using the term ad valorem.

[Bogie Shooter]

Let's not forget about the approximately 7 million a month in amenity fees taken in, I'm wouldn't be surprised if there's a couple of million a month profit there as well. Kudos to them for some wise choices. Plus all the side businesses....of geez. ......

There is no profit on amenity fees..........the budget's can be reviewed.

[mrfixit]

Let's not forget about the approximately 7 million a month in amenity fees taken in, I'm wouldn't be surprised if there's a couple of million a month profit there as well. Kudos to them for some wise choices. Plus all the side businesses....of geez. ......

Let us not forget the nearly $ 700,000.00 per day that it costs to
operate this place called The Villages.

The ENTIRE Budget and Comprehensive Accounting-of-Distributions
is public record and can be reviewed by anyone.

[buggyone]

A friend of mine closed on his home just six months ago in TV. He "swears" that prices on an exact Designer home like his has gone up in price 30% in the last six months. He says, "The Developer is gouging people".

$250,000 Designer home with a 30% increase would now cost $325,000. My friend is convinced this is true and I have no reason not to believe him as He is not one to make "things" up. I have no valid data to back him up.

Assuming this is correct, is the Developer gouging people on new homes? :shrug:

Gouging? How about making a good profit from an excellent product? Housing prices have gone up nationwide - thanks to a robust economy and consumer confidence.

I give "big props up" to the Developer and he is helping all of us.

[mickey100]

Let's not forget about the approximately 7 million a month in amenity fees taken in, I'm wouldn't be surprised if there's a couple of million a month profit there as well. Kudos to them for some wise choices. Plus all the side businesses....of geez. ......

Let's not forget they took the risks on the CDD bonds i.e. IRS business. Wonder if they are going to pay the fines/reissue the bonds, or are the residents going to get stuck with any penalties that accrue? Yes, as Villagers we're living the dream, but thanks to the developer's "business acumen" we may end up paying through the teeth for it. That may have a negative effect on home prices.

[graciegirl]

Let's not forget they took the risks on the CDD bonds i.e. IRS business. Wonder if they are going to pay the fines/reissue the bonds, or are the residents going to get stuck with any penalties that accrue? Yes, as Villagers we're living the dream, but thanks to the developer's "business acumen" we may end up paying through the teeth for it.


That's o.k. We have the other government.

[villagerjack]

Let's not forget they took the risks on the CDD bonds i.e. IRS business. Wonder if they are going to pay the fines/reissue the bonds, or are the residents going to get stuck with any penalties that accrue? Yes, as Villagers we're living the dream, but thanks to the developer's "business acumen" we may end up paying through the teeth for it. That may have a negative effect on home prices.

For one months amenity fee my wife and I can play golf a single time in NY if we cough up another $20.00 bucks. That's the reality.

[Challenger]

Rumor Mongers , Conspiracy Theorists, and those who are "agin it" will always be with us. They seldom reasearch the facts before posting and often put thier typing fingers in motion before putting their brains in gear. JMHO

[justjim]

For one months amenity fee my wife and I can play golf a single time in NY if we cough up another $20.00 bucks. That's the reality.

Someone once said, "everything is relative". How true that is with the diversity of people coming from various regions of our great country.

In the Midwest where I was raised and spent most of my working years, the price of golf this summer was (high season there) $30.00 to $50.00 for 18 holes and a cart on some very nice public golf courses. After labor day you can play the same courses for about half.

$250,000 will buy you a very nice home in a safe and comfortable subdivision.

Of course there are Private Clubs where the costs are much higher and you can buy homes on those courses for $500,000 up to several million. Only a few can afford this standard of living.

Bottom line, Here you can buy a home for $100,000, $300,000 or a million. But we all pretty much can enjoy the same amenities. Is this a great place or what?

Only time will tell if a 325,000 designer home can be sustained in TV. IMHO it will be after build-out before we will know. Some think about half of us will have putted or last putt or danced or last dance by then. Fore! Oh, the other half don't really care. :ho:

[billethkid]

Let's not forget they took the risks on the CDD bonds i.e. IRS business. Wonder if they are going to pay the fines/reissue the bonds, or are the residents going to get stuck with any penalties that accrue? Yes, as Villagers we're living the dream, but thanks to the developer's "business acumen" we may end up paying through the teeth for it. That may have a negative effect on home prices.

The minority report is hereby acknowledged!:D

btk

[Bogie Shooter]

The minority report is hereby acknowledged!:D

btk

Now that was well put!

[rubicon]

Gouging? How about making a good profit from an excellent product? Housing prices have gone up nationwide - thanks to a robust economy and consumer confidence.

I give "big props up" to the Developer and he is helping all of us.

buggyone: could you please share that good news with Ben Bernanke at the Fed so that he will begin to taper down on QE and begin raise the interest rate so that some of retirees might make a percent or two investing in CD's. I mean his days as the nation's central planner are way over due
PS: in case your request arrives late you may want to include Janet Yellen

Personal Best Regards

[Trish Crocker]

:shrug:Hmmm...let's see...I'm the developer and I have these homes for sale. Because of the market here people will pay higher prices. I have determined that it would be a smart business decision to sell the homes for less...thereby bringing down the value of all of the homes here. Wow, that's a good idea so everyone will think I'm a good guy! But wait! If I do that the property values will decrease and I'll be the bad guy again. Lordy, Lordy..what should I do???? It is soooo hard to be responsible for the happiness of the 100,000 + people that live there in this miserable existence that we have provided. God forbid they should experience any distress...after all, they do pay their $145 a month! Oh shoot..just remembered...some people are paying a couple of dollars more and some a couple of dollars less. This was brought up recently and apparently some are not happy. This job is sooooooo hard. I only wish I could find 100,000 people that all want the same things.

[graciegirl]

:shrug:Hmmm...let's see...I'm the developer and I have these homes for sale. Because of the market here people will pay higher prices. I have determined that it would be a smart business decision to sell the homes for less...thereby bringing down the value of all of the homes here. Wow, that's a good idea so everyone will think I'm a good guy! But wait! If I do that the property values will decrease and I'll be the bad guy again. Lordy, Lordy..what should I do???? It is soooo hard to be responsible for the happiness of the 100,000 + people that live there in this miserable existence that we have provided. God forbid they should experience any distress...after all, they do pay their $145 a month! Oh shoot..just remembered...some people are paying a couple of dollars more and some a couple of dollars less. This was brought up recently and apparently some are not happy. This job is sooooooo hard. I only wish I could find 100,000 people that all want the same things.

Your mother had smart children.

[Trish Crocker]

I don't know how that could have happened. I distinctly remember my folks telling me "Don't you get smart, young lady". :)

[mrfixit]

:shrug:Hmmm...let's see...I'm the developer and I have these homes for sale.
>>>>>>>>>>> quote was shortened<<<<<<<<<
This job is sooooooo hard. I only wish I could find 100,000 people that all want the same things.

AHH....:thumbup:
....how refreshing......the voice of someone who understands business.

I bet that you have signed the FRONT of paychecks in your career.:ho: