[howardandsheila]

Originally Posted by jimbo2012

yes

thanks jimbo.

[Indydealmaker]

Originally Posted by jebartle

and pay NO bond!....Yea!

All of the infrastructure costs in Lake County must then be built into the sales price. That makes development much more costly in Lake County as the developer must front that cost prior to the first sale.

Many developers fund that infrastructure with cash flow from sales which often results in home owners left holding the bag with unfinished streets, pools, rec centers, etc. as a result of a bankrupt developer.

[TNLAKEPANDA]

My sister closes on Tuesday and I would have to say Not True. That would put a real hurt on sales since most new homes you are looking at 20K plus plus.

[TNLAKEPANDA]

Originally Posted by howardandsheila

So, if I pay off my mortgage this year, my bond payment would just become an annual payment included with my tax bill?

That is exactly correct.

[Bonanza]

Originally Posted by gomoho

Well that is how it is done in most new communities - included in the purchase price. Unless there is a substantial increase in model prices don't think this would be true.

You are correct regarding the bond.
I have lived in many different places where I have been a homeowner and have never paid a bond.

I'm embarrassed to say this, but I was on the Villages mailing list for 12 years before my husband and I actually purchased here.
Years ago I had heard that the bond we have to pay is not legal.
Common sense tells me that cannot be the case because everyone still has to pay it.
Has anyone out there heard the same thing?

[graciegirl]

Originally Posted by Indydealmaker

All of the infrastructure costs in Lake County must then be built into the sales price. That makes development much more costly in Lake County as the developer must front that cost prior to the first sale.

Many developers fund that infrastructure with cash flow from sales which often results in home owners left holding the bag with unfinished streets, pools, rec centers, etc. as a result of a bankrupt developer.

Interesting. Thanks Steve. And of course the new Villages of Osceola Hills and Belle something are in Fruitland park, Lake County.

[JMEZARIC3]

Originally Posted by Indydealmaker

All of the infrastructure costs in Lake County must then be built into the sales price. That makes development much more costly in Lake County as the developer must front that cost prior to the first sale.

Many developers fund that infrastructure with cash flow from sales which often results in home owners left holding the bag with unfinished streets, pools, rec centers, etc. as a result of a bankrupt developer.

So the new homes in Fruitland(Lake County) will not have bonds? The cost of the infrastructure will be included in the sale price.According to Lyle this will be a gift from the developer to all existing home owners.
The Fruitland section should be the final buildout in TV and the sale price will include $20,000 TO $30,000 for the bond.

[justjim]

Originally Posted by JMEZARIC3

So the new homes in Fruitland(Lake County) will not have bonds? The cost of the infrastructure will be included in the sale price.According to Lyle this will be a gift from the developer to all existing home owners.
The Fruitland section should be the final buildout in TV and the sale price will include $20,000 TO $30,000 for the bond.

If this is true, the homes in the new Village of Fruitland Park will be high indeed! Very good for current homeowners----there will be some sticker shock for sure.

[eremite06]

If an appraisal is done correctly, this shouldn't be a gift to all existing homeowners. When using comparable sales within the new Lake county area, those sales used as comps will need to be adjusted to account for the bond inclusion in the sales price.

The subject of the appraisal is valued based on whether the bond is paid in full or not.

[rubicon]

Is it an advantage or disadvantage to have a break out of the bond as a separate charge? Does it necessarily mean that residents are paying more for a house where all cost are packaged into one price?

Is it more likely that manipulation of price is easier with a breakout or with a single listed price?

[OBXNana]

We closed 2/14. We paid off the bond. The interest rate was almost double on the bond than the rate of the mortgage. If the bond is included in the selling price, the interest rate, may very possibly be lower. Plus, mortgage interest is a tax deduction and the bond is not.

I'd far rather have the bond as part of the selling price, than a payment at a greater rate of interest.

[mickey100]

Originally Posted by OBXNana

We closed 2/14. We paid off the bond. The interest rate was almost double on the bond than the rate of the mortgage. If the bond is included in the selling price, the interest rate, may very possibly be lower. Plus, mortgage interest is a tax deduction and the bond is not.

I'd far rather have the bond as part of the selling price, than a payment at a greater rate of interest.

If you're not paying the bond off it makes financial sense to have it as part of the selling price.

[yabbadu]

Originally Posted by mrich61

Hello - I heard a "rumor" today that the Villages is now requiring bond payments to be made up front at time of closing in full upon purchasing a new home......How true is this please???

Thanks!

Why not call the sales office to confirm "RUMOR"!

[yabbadu]

Originally Posted by Bonanza

You are correct regarding the bond.
I have lived in many different places where I have been a homeowner and have never paid a bond.

I'm embarrassed to say this, but I was on the Villages mailing list for 12 years before my husband and I actually purchased here.
Years ago I had heard that the bond we have to pay is not legal.
Common sense tells me that cannot be the case because everyone still has to pay it.
Has anyone out there heard the same thing?

Have you checked with a lawyer regarding the legality?

[ilovetv]

We've paid a bond in every home we've owned in other states. It was in the price of the LOTS we either bought from a developer or with a used home we bought.

You pay for the infrastructure construction and maintenance, one way or the other. Get over it.