Just saw the new Dabney, Lake Denham and Moultrie Creek..
 

With the drop in prices for the new areas I was willing to give them all a look while visiting 2-12 thru 2-18. These areas are really far removed from the primary areas and amenities. Lake Denham doesn't even have a pool outside of Franklin Rec center. Dabney does have a neighborhood rec center thankfully because wow it is isolated. I know Eastport is coming however Denham and Dabney still a good distance away. Moultrie Creek is in the shadow of the high school and when developed its relationship to Eastport will make it a new center for development to the south for years to come. Moultrie Creek home prices are up 30 to 40k above Denham and Dabney with bonds 40 to 60k higher with the top end up near 80k. A lot to think about.

And you have the final section of Richmond building out later in the year - will be interesting to see the bond prices on those new homes.

There are always lots of excellent pre owned homes available that are very close to everything including amenities, shopping, dining, multiple town squares, and lots of golf and many of them have the bond paid off and are surrounded by beautiful mature landscaping. If you’re not hell bent on buying new, your opportunities are significantly enhanced. Also something that you should add to the list of important things to think about. Best of luck with your search.

If I were a new buyer today, I would only be looking at the Eastport area. Being close to nothing should be a dealbreaker for most people.

I wouldn't really worry about the bond that much to be honest. The difference between carrying a 40k and 80k bond is going to be a small difference compared to all of the other costs.

I'm in Lake Denham and will be less than 15 minutes by golf cart to Eastport-10 minutes by car. With the Villages acquisition of the land in Lake County south of 470, and the agreement in place with the county to widen the overpass on 470-it's almost assured for there to be an even easier access to Eastport via golf cart eventually. (as in another Multi Modal over the turnpike on 470).
Don't sell short an area that might now 'look' isolated, but indeed will be much sought after in the future, as it too becomes the 'middle' of TV.

Didn’t we just finish this conversation??????

Zombie thread...

The Zombies are in the north. The Alive and Kicking it are in Lake Denham

Lets play a game of logic. People retiring now are in their sixties, some younger. When preowned homes are sold who do you think bought them? Eighty years olds who wish to own 5 or more homes in the Villages?

Your logic is way off. Every day, there are YOUNG retirees who choose to buy in the Northern section. Your CHOICE to live in the South is no better than theirs. People appreciate and want different things. But, the fact remains. People newly retiring to the Villages are from the SAME AGE GROUP. You are no more AIve and Kicking than they.

This is a cautionary market. Home prices for both new and preowned are all over the place. I advised my daughter to watch what summer brings. Lake Denham and Dabney sales remain slow.The Developer will have to do something to get those homes sold. If prices fall further, she can take advantage.

The bond prices are an issue she is giving close attention. Right now, a preowned is looking much sweeter than a new with a $50-80 thousand bond. She would rather spend that money remodeling an older home to suit her taste than carrying a 30 yr bond fee that gives her no benefit. A home between the 66's is her desired location.

Buyers Market
 

It’s a buyer’s market. If you buy, look only for the very best deals. I would hold off a little longer. Inventory is already at historic highs (6 months). Wait at least till summer.

Absolutely right!

I wish you well and the homes are beautiful. I rate everything in TV about distance by golf car.

It will be MANY YEARS before what you describe happens. The developer has moved to building in the Eastport area. He will have no interest in returning to Lake County until that LARGE area is complete. He also has homes in Richmond planned and a few CYVs near Spanish Springs. Lake Denham and Dabney will remain isolated for quite some time.

Yes, you will be close to Eastport. But, a town square does not happen overnight. It will be MANY YEARS before the store fronts are 100% leased. The amenities will be open and available but restaurants and stores will be slim pickings. If you are someone who wants convenience, it is probably best to look at homes built 5-10 years ago near Brownwood.

Preowned home prices are still way above market. I like your daughter would prefer a preowned when weighing them you will have to pay 100k more than new for same homes. Sorting through roof ages and flooring costs it is much to consider also.

Takes time
 

I agree wholeheartedly. If the turnpike bridge is widened, it will take years. Just look at how long it took to put in place all the pieces for the Bexley Bridge. I’m thinking the best bet is for tunnels under 470? For now, look at the area to be kind of like Oxford, The Village to Nowhere.

I agree and have until around years end before I will be retiring. Have a great day.

Most preowned homes have a new roof because sellers understand a buyer may not be able to get insurance. Don't forget to look at the age of HVAC. That can cost quite a sum to replace.

Flooring will be around 10-20 thousand. If you find a home with completed landscaping and an extended lanai, that cost will be a wash. You will have to spend equal that amount to complete the landscaping and lanai in a new construction. Your benefit will be a low or no bond and lower property taxes. Without those high monthly payments, the remodeling you must do pays for itself in the long run.

Preowned homes are sitting on the market for months. If you find a must sell, you can get a great deal. It takes patience and willingness to watch the market to understand when to pounce. A preowned I am interested in recently saw a $50,000 reduction. I am going to wait and hopefully get a better price. If this doesn't happen, I'll happily move on and search for another. I will not pay full asking price in this market.

Preowned homes ARE NOT $100K more. If you add the bond price to new construction, the cost is relatively the same. You do not have to pay the bond upfront, however it needs to be paid. After 5 years of living in your new construction home, you will see the price you are paying for the bond is astronomical. It will be reasonable to pay off the bond at this point.

Bought and Sorry
 

Take your time. We bought a home in the area and are already in negotiations to rent it out. Through our brief stay in TV we learned of a great condo on S. Gulf in Clearwater. Now we get to travel between two places Ha Ha. Now if we could only find a better place than KSK for our baby.

Did you happen to ask what the interest rate is today on the bonds in those areas ?

$80K 30 years @ 5.0% Is
- $430/month
- $155K payback

I'd be looking preowned.

It is a confusing market considering they continue to sell within their average of 70-100 homes a week.

I wouldn't be surprised to see prices go back up once Danby is sold out and Richmond/Eastport homes becomes available.

Good luck to your daughter in her search.

Is there a way to find out what the bonds are for new homes??

I don’t think the Villages lists them on their website.

If not, can people let people know what the bonds are in Lake Denham and Dabney and Moultrie Creek?

470 is about 2.6 miles from Bexley Bridge and Bexley is about 4 miles from Water Lily.

I can’t imagine that there will be another golf cart bridge or tunnel at 470. If there is, it will be a very long time from now. The focus is on Eastport and they have easy access to Bexley.

Bonds are $50,00 -80,000 on new construction. Bonds are based on the amount of infrastructure (roads, utilities, etc) needed to open an area. Each is divided by the amount of homes in that section. For example: the enclave has 121 homes. The total amount spent on infrastructure is evenly divided by these 121 homeowners. Each home in that area will pay $70,000 whether you build a large home or small.

If a bond is a concern, look at areas with more homes. This will help to lessen the bond payment. Ask your sales rep what the bond is on each home you have interest. The difference may sway your decision.

Designer home in Lake Denham and I think my bond was 48K.

We are terribly isolated down here with nothing to do. Just yesterday at lunch in Sawgrass we were discussing that. We talked about how we had to go to the Dabney pool, almost 5 minutes by cart. Or we could go to Franklin, or Homestead, or Ezell. We mentioned how Eastport is 17 minutes by cart and they would only have like 2 or 3 restaurants open by years end. We talked about Harry and the Natives restaurant in Okahumka won’t be open for almost a year.

Two nights ago at the driveway party with over 100 people we talked about how lonely and isolated we were. As the planning for next months party was discussed, we talked about how there was nothing down to do down here, but we ran out of time and decided to discuss tomorrow at pickle ball.

Brownwood is 30 minutes by cart and so it takes us a bit to get to all the restaurants everyone says are so bad. We also don’t get to shop in all the stores and we talked about how we were definitely being screwed because we hadn’t been to a brick and mortar store since the 90s and it would be nostalgic.

Last night when 10 of our neighbors came over for game night we all wondered if we would need therapy to help our loneliness.

I’m not positive but when Jerry and Linda came to our get together at aviary they may have mentioned how they almost couldn’t find us out here in the boondocks.

Yeah it’s horrible down here.

Unless you are keeping your money under a mattress, $80K invested 30 years @ 5% it will grow to $345,755.

You will have earned $345,000 in interest.

It's unlikely you will fully recover the full amount of a bond early payment in the sale price of a home.

Whaat amenities is that area far removed from???????? Not only will they have all of the typical amenities they have many that are not available anywhere else like a indoor gymnasium with basketball, volley ball, even rock climbing walls, 3 new golf courses, Eastport will have just about everything plus a lot of new ideas and they are near to Leesburg shopping and so much closer to Clermont, Orlando, and even Tampa when compared to the northern villages which gives them so many more medical/hospital options as well as retail shopping within an easy drive also to Costco. I think this is going to end up being the most desirable area within the Villages and if I was younger I would be investing down there which a lot of others are currently doing.

Thanks for the heads up. I would not like being so isolated from amenities that I had to party in a driveway.

Even though I’m just a 5 minute cart ride to Brownwood, I find myself in the far southern villages multiple times per week. The vast majority of my friends I’ve met since moving to TV live in the Sawgrass and Magnolia Plaza areas. This area has a different “vibe”, and I relate more to the new residents in these areas. I’m at Sawgrass once or twice a week attending the wonderful show kitchen classes, which in my opinion, is the best “restaurant” in TV, and so entertaining. I’m at boozey bingo at Sawgrass with a great group of friends most Monday nights. I’m in a shuffleboard league that rotates between various rec centers south of 44. I play pickleball every week at the new Dabney Rec Center. I’m at Fenney at least once a week for lunch and walking the nature trails. Most of my indoor activities center around Ezell and Everglades Rec Centers. I’ll go a few weeks without even going to Brownwood. The south for me is a vibrant area where people are super-active and very friendly. I enjoy not being near all the brick-and mortar retail.

Thanks but I have been in sales and instantly recognize propaganda when I see it. Lots of buyers from Florida closing on homes concerns me. Investors, perhaps? If not, why arent they happy with their present home? The sales board also does not show how many homes were sold at reduced prices. I can go on....

The old adage, "if someone jumps off a bridge, would you follow?" seems appropriate. I take my financial dealings SERIOUSLY and will not be swayed by herd mentality. The sales board is nothing but a marketing tool to get people to buy. It may work for some, but not me or anyone in my family.

What amenities are we isolated from? Driveway parties happen in most all villages. By your reasoning they are all isolated because they have parties?

The bonds are listed for all of Lake Denham, Dabney, Newell & even Moultrie Creek

I just looked at three units in Moultrie Creek & the bond interest rate was 5.19

You can see bond amounts and amortization schedules on the districtgov website.

e.g. Lake Denham - Unit 69V; bond $40,525 @ 5.47% interest. Payment is ~$2,918 per year for total payment of $88,685 over 30 years.

You can also look up houses on the CAD sites to see their taxes, almost all newer homes have city taxes (Wildwood or Leesburg). Keep in mind the taxes will likely increase significantly on pre-owned homes as the assessed value will increase after purchase (you lose the cap that the previous owners enjoyed).

I agree 100%. Not only are the bond prices outrageous in the newer areas but all the homes look like they are packed in all on top of each other. The roads are narrower as well. The Developer is doing everything they can to pack in more homes in a given area in these newer sections. Eventhough people feel they will be closer to all the activity in Eastport, they will be pretty far away from the rest of the activities in the villages in our lifetimes. Forget about going to Brownwood or the other golf courses north of 44 for example with the Golf cart lol. I'm not saying the newer sections are not good but the "look and feel" is not the same as in the areas like Fenney, Marsh Bend and others near 44 and north of 44. And yes you have to spend the first couple of years upgrading the landscaping and everything with a new build else instead of enjoying yourself in the final chapter of you life.

Does anyone know if CDD's have restructured loans in the past, to reduce interest rates?

It would depend how these bonds are originally written as there could be prepayment penalties or other clauses that make it difficult. I suppose an individual could take out a loan at a lower rate to pay the bond if they wanted.

Don't be fooled. After a while all that newness wears off, people get on with their lives, get involved in clubs and activities. Same thing with the town squares. They are very nice but you will probably visit them less often as you get involved in things in the rest of the Villages.

This only strengthens my point that we aren’t at all isolated down here.

Based on all the comments and threads on this subject I can only assume people up north are too old to drive and need shopping centers within 5 minutes. Otherwise there is nothing we don’t have down here.

They can and do restructure every 10 years. Recently, before the interest rates went up, CCD 10 reduced their interest rate from 5.99% to something around 3% ish.

:BigApplause::BigApplause:

Soooo Horrible down here. My new friend Dan E is despondent after hosting that driveway party with a fun live band because so many new residents came to share food, fun, and fellowship. Everyone was so unhappy with their decisions to buy into Lake Denham that they were spending the last few dollars they had left on AED donations and contributions to the NEXT neighborhood party....kinda like we like our new community???:shrug::shrug::shrug: