[retiredguy123]

Originally Posted by heims01

Is that something realtors like to tell people to get them to ignore the bond on a house?
I certainly would insist on making a point of it when selling a house that had the bond paid off, especially if the remaining bond was significant. If you look at the amortization tables for the newly refinanced bonds your still paying a LOT of interest in the early years of the bond just like a mortgage. Unlike mortgages, you can't make extra principal payments so you are really paying through the nose if your bond has a lot of years left to pay. IE: Ours were 2020 numbers :
bond balance: $18,499.32
payments for 2020:

$486.46 Principal payment
$1,116.06 Interest payment
$102.29 Admin Fee
$1,704.81 Total payment
$18,012.86 Balance forward 2021
This bond would run through 2039.

The fact is that many home buyers only look at the asking price for a house. So, if your house is priced at $18,000 more than similar houses, your house will not be as competitive as a house with an $18,000 bond. It will be almost impossible to recover the bond pay off amount. My opinion.

[Stu from NYC]

Originally Posted by heims01

Is that something realtors like to tell people to get them to ignore the bond on a house?
I certainly would insist on making a point of it when selling a house that had the bond paid off, especially if the remaining bond was significant. If you look at the amortization tables for the newly refinanced bonds your still paying a LOT of interest in the early years of the bond just like a mortgage. Unlike mortgages, you can't make extra principal payments so you are really paying through the nose if your bond has a lot of years left to pay. IE: Ours were 2020 numbers district 8, residential unit 159:

Bond balance: $17,995.79

2021 payment due in 11/20:

$656.96 principal
$725.04 interest
$96.06 Admin fee
$1,478.06 Total due
$17,338.83 2021 Balance

Wow something new to think about when it is time to make payment on bond for first time later this year.

[WoodshopMark]

Ditto. Completely False.

[WoodshopMark]

Yes, you are really financing a portion of the home purchase for 30 years if the bond is not paid off. However, if you are only going to be in the house for 10 years or so your payments will be much less than paying the bond up front since the remaining amount is passed to the next owner. It is easy to calculate the break even point if you have an amortization schedule. Keep in mind most folks are not in the same house in The Villages for 10 years.

[Ss6247]

Buy in Lake County part of the Villages....No bonds in our county.

[retiredguy123]

Originally Posted by Ss6247

Buy in Lake County part of the Villages....No bonds in our county.

The Villages of Pine Ridge and Pine Hills are in Lake County and they all have bonds.

[Bogie Shooter]

Originally Posted by Ss6247

Buy in Lake County part of the Villages....No bonds in our county.

Historical Side.

[TSO/ISPF]

The payoff is 10 years. In 10 years the bond would still be 9K. They refinanced the bonds and significantly reduced interest but it's still interest. You could look at it as a 50 percent gain on the
18K paid this year over 10 years.

[VApeople]

Originally Posted by heims01

Bond balance: $17,995.79

$725.04 interest
$96.06 Admin fee

Since you are paying $725 interest for a bond of $17995, then you are only paying 4% interest. That is not too bad.

In our case, we had a bond of $21000 but we were paying 6% interest, which is a lot more than you are paying. So we went ahead and just paid it off.

[TSO/ISPF]

They refinanced the bonds in our district. I imagine they did it across the board but I don't know. It went from 6.125 to 3.73 percent. That's a lot more than you can earn in the fixed income market these days unless you are risk tolerant. I have money in a roth that I call "mad money" to roll the dice in the markets, otherwise I have become very risk adverse at 67.

[Gizemo33]

Why am I not receiving talk of the villages each day? Can somebody please let me know why this publication is not being received each day? Thank you.

[Stu from NYC]

Originally Posted by Gizemo33

Why am I not receiving talk of the villages each day? Can somebody please let me know why this publication is not being received each day? Thank you.

Bests me but just put site in your browser and can easily get there.

I get email but find it easier to just save a step.

[Bogie Shooter]

Originally Posted by Gizemo33

Why am I not receiving talk of the villages each day? Can somebody please let me know why this publication is not being received each day? Thank you.

At the bottom of every page is a "contact us", why not ask your question there?