Lots for sale $0?
 

Over at theVillages dot com, if you go on the Search Homes tab, there are 19 undeveloped lots for sale at $0 in V of Shady Brook. Other lots range from 1K to 139K. Are there really lots available for zero?

Likely means $0 lot premium when you contract for a house.

There have been $0 lots in many villages. Caution:carefully scrutinize the location and lot size. Most $0 lots are not worth having unless you have no preference on the size and model of home that can be built. A buyer pays a premium on larger lots, corner lots, and lots with a view.

Don't know. But I'd be sure to measure the depth of the water covering them before I'd consider buying.

Rule of thumb: if something looks too good to be true, it probably is.

Purpose
 

The zero dollar lots require you to schedule a design appointment for building a Villages house. There are prerequisites as to what size, if it requires a golf cart garage etc. You are then required to put 10 k down and present the rest at closing.

In short, a sales ploy in these trying times with decreased pricing and poor inventory movement.

Zero lots have been around for a long time. Usually lots the homes need tweaking to fit. Every lot has a price with spec homes it’s built in. Usually the only time high premium is view lots

I disagree....................there are thousands and thousands of Villagers who paid zero premium for their lots and absolutely love their lot, their home, their neighborhood.

Thousands and thousands, interesting.

Last reported number was 71,000 houses.

Exactly what it means.

I Bought a $0 Lot
 

I just bought a $0 lot and had a designer home put on it and I'm extremely happy with my choice! Nothing wrong with the lots, I have Chandler Rd. in my backyard but a beautiful pond view from my lanai. The lot has enough size to add a pool if I wanted to. The people next to me paid $15,000 for their lot and it's identical. And then one on the other side is a corner lot and they paid $45,000 for the over sized basically identical lot and view. I think it's just an incentive to build there because once people start moving in it's like the seal of approval.

$0 lots can be a good deal if it fits what you are looking for, which as some said size and location.
Also, in many cases as also stated a commitment to erect a home.
In the mid 70s Baltimore had a deal on the table where they were selling uninhabited homes for $1.00, the commitment was within a certain period of time you had to bring the home up to living condition and it was yours.
It was a win, win situation that worked.
The $0 lots are somewhat the same, the buyer gets a good deal, and the seller gets a lot of their hand that is less appealing to many.

A $0 lot premium doesn't mean the lot is free, only that there's nothing unique (lake, preserve, golf course, size, corner, etc.) they could justify charging extra. NEVER buy without checking it out in person! Never decide on a house floorplan without seeing in in person! Check what the Bond is for the lot, some are crazy high. We changed so many things once we saw things in real life. We paid a little extra for a preserve view and even though the lot is only something like 0.15 acres, when we sit on the Laini, we only see large oaks, Spanish moss, and a natural pond.

Actually you have to design your house within 30 days of purchasing a lot and 20% of the build cost is due when you sign the contract at the design center. The balance of the home cost thereafter is due at closing.

No premium, not a free lot...

Exactly correct not everyone wants, needs or can afford a premium lot but still love their individual village and the overall beauty and lifestyle.

Would you be willing to say what you built and the total cost?

Cause the can’t afford premium lots or don’t want to keep up with the smiths or jones. :oops: agree there are thousands of standard lots just have to get rid of so there cheaper and the majority basic lots in villages.

You can probably bet they got their 15K somehow. :D

Exactly correct. We bought a $12,000 lot next to a $20,000 on one side and a $45,000 lot on the other side. The lot itself is slightly smaller than the $20,000 lot, but same views, and better views than the $45,000 lot. It was a development starter lot to get the 99 lot development up and going for the other sales to people who need to see houses instead of dirt to buy.

In my first MBA marketing course, the first concept taught was the two different types of sales reps, which equates to the types of buyers:

Shoes salesmen:
Rep A) assigned to an undeveloped region with people with no shoes: Look at all the new opportunities!
Rep B) assigned to a developed region with people with shoes: Look at all the existing resale opportunities!

Some people couldn't buy a parcel of dirt and build with no rec center started, no athletic fields started, no shopping center started, no bridge started because they are visually oriented in the present, and have a hard time envisioning the future development or promises by the developer.

Those types prefer lots with visual development and prefer fully developed neighborhoods, can touch and see the house, etc, prior to buying. That's the model the developers have trended towards, versus the custom built with amenities in the future. .

which kind of buyer are you?

Sales ploys are not needed to sell homes in The Villages. Period. Amen.

Typically these lots are offered in the high crime sections of the Villages that are controlled by Village gangs. You can easy spot them by the colors of the loofahs' on their carts.

:bowdown::
:bigbow:
:mademyday:

Dumb comment ……….

Personally, I’m the kind of buyer who likes few surprises, when it comes to my living place. I even like to know my future neighbors. I know some will move, but most will stay and so will the type of neighborhood. I like to know what amenities are there now and how they look. Nothing stays the same, but for the most part I can see what I’m actually getting into. Speculating, flipping etc is something different. That is business.

Gimmick
 

This is just a cheesy sales gimmick. You get a lot, right after you sign a contract to buy an overpriced house and a honkin huge bond bill.

The Villages is really struggling to move inventory at desired pricing for them.

Old thread fully covered……..

Struggling
 

The main reasons Villages market struggles are inventory, interest rates and overpricing. About 55% of homes sold by the Villages are financed. Homes are still about 15-20% overpriced. If the Developer appears to be selling lots at 0 dollars, he really isn’t. Bond on many of these is 50 k, nothing is free. Then comes the home with certain mandatory restrictions for upgrades.

You must go through the design phase to see which type of home will fit on a particular lot. The zero dollar lots have the profit margin built in. It is not a giveaway nor a marketing scheme.

Developers divide their land into same size parcels then reallocate to create larger lots for models that will not fit on a standard parcel. Zero dollar lots are standard parcels. Buyers are charged more for larger lots. Additional premiums are charged for homes with a view or corner lots because they have additional land.

No idea how that relates to what kind of buyer are you?

Developed land costs money
 

All the “zero” dollar lots were labor intensive and had costs in fuel, labor, machinery along with electrical, water, gas and sewer lines installed. None of it was done for free. Then paved road were run in front of the lot. Any taker of a “zero” dollar lot will be taken for in impact fees and costs in the form of a bond that the buyer must sign for.

Then they have to build and pay for the home that fits for the indicated neighborhood according to Villages standards.

Nothing, ZERO is free. Instead it’s entrapment of the Developer’s vice just to rid themselves of the financial burden they carried and make the “zero” taker enslaved into unwanted or less desired property.

It doesnt matter which type of buyer you are. The Developer charges a set cost for land. Zero dollar lots and the homes built on them is base pricing. Any variance, a buyer will pay additional. A 2100 sq ft home requires more land than a 1500 sq ft home. Corner lots are bigger. A view takes away land that could have been built on. You pay more.

It looks like many of the Dabney premier home lots are not selling. It appears that all of the view lots are sold but more than half of the interior lots are still available. I think the bond is around $70,000.

The Loofah Code.....shhhhh! ;)