[SHIBUMI]

whats your take? thanks

Originally Posted by ROCKETMAN

Talking to a sales agent told me bonds on patio villas are over $40,000. Can anyone verify that. If that’s true bonds on two and three bedroom cottage houses must be $50,000. On a different topic I walk many routes and today a cul de sac off st. Charles I saw the view 3 or 4 designer houses have in their backyards is the three story apartment complex next to sandhill golf course. I’m sure they were told when they built the villages doesn’t own that land behind your house. I

[shut the front door]

Originally Posted by gorillarick

I know someone who bought in 2013. Agent told them TV would stop at Hwy 44.

No more new construction in TV. That's it.
( I'd guess he/she also added; 'better buy now, the prices can only go up; law of supply and demand.' )

It was the company line. No more after 44. If anyone believes everything a salesperson says, they are very naive.

[TomPerry]

Originally Posted by Jayhawk

Would it make people sleep better if, instead of the bonds, the developer simply added the same cost to the total price of the house as they do pretty much everywhere else in the country? Bond-talk has been happening for years, and some people still don't get it.

Actually it is to the buyer’s advantage to have the bond separate from the purchase price of the house! If it was included in the purchase price of the house, you would be paying property taxes on the value of the bond as long as you own the house!! Up north the infrastructure is roads, common utilities, maybe sewer, and maybe some common area for the residents. Here in The Villages the infrastructure is much more involved and the total cost is much more. Also, because of inflation driving up the cost of the infrastructure, current bonds on new homes are much higher that the bonds in the northern parts of The Villages that were developed 20 years or so ago.

[shut the front door]

Originally Posted by Jayhawk

It's part of the COST of the home, whether it's pre-owned OR new. What's so hard to understand about that? And why is it such a topic of complaint? Everyone here has (or had) the bond, and if it's still unpaid, it gets full disclosure. Many just choose to either ignore it or later claim they never knew at all.

But I guess there has to be something to crab about, right?

Thousands here have never had a bond.

[merrymini]

If anyone in their right mind thinks I am eating the cost of my bond when I sell my house, they are crazy. I paid my bond off when purchased my house because the interest rate was about 6 percent on the bond and paying interest rates on savings were about less than 1 percent. Not to mention that if the bond debt was amortized like a mortgage is, I would be paying about 2 1/2 times the debt over 30 years. Do a little math and you will see the real numbers on these items over the life of the debt.

[BrianL99]

Originally Posted by defrey12

It's in ALL of their marketing materials. Here it is.
https://www.thevillages.com/wp-conte...25-2265200.pdf

It is?

Please show me:

https://www.thevillages.com/homes/new-neighborhoods/

https://www.thevillages.com/cost-of-living/

https://www.thevillages.com/home-series/verandas/

Please show me where "Bonds" are mentioned.

[tophcfa]

Originally Posted by G.R.I.T.S.

This is not an issue with only TV. We have always subscribed to the notion of not buying adjacent to open land. If you want the view, buy the view (pasture).

Or buy a home abutting a wildlife preserve, also used for water management, which can never be built on.

[retiredguy123]

Originally Posted by merrymini

If anyone in their right mind thinks I am eating the cost of my bond when I sell my house, they are crazy. I paid my bond off when purchased my house because the interest rate was about 6 percent on the bond and paying interest rates on savings were about less than 1 percent. Not to mention that if the bond debt was amortized like a mortgage is, I would be paying about 2 1/2 times the debt over 30 years. Do a little math and you will see the real numbers on these items over the life of the debt.

First of all, you cannot accurately say that you will be paying 2 1/2 times the amount of the loan over 30 years because that totally ignores the time value of money. You must offset it with the alternative investment income that you could earn on the money that you did not spend on paying off the bond.

And secondly, when you sell your house, you do not control the sales price. The sales price is determined by the buyer and the current market value. You may need to eat all or part of the cost of paying off the bond, if you want to sell the house. A buyer may consider a paid off bond as an asset to buying the house, but typically, buyers are not willing to pay full price for what the seller had to use to pay off the bond.

[Jayhawk]

Originally Posted by BrianL99

It is indeed a "liability against the homeowner's credit or any other assets the homeowner owns."

I've never heard of a credit report showing a bond debt for anyone, anywhere, or any time. Could you share which agencies report this?

[BrianL99]

Originally Posted by retiredguy123

According to Experian (the people who calculate credit scores):

"Yes, mortgage debt significantly affects your credit ratings and scores throughout the life of the loan."

There you go. You were confusing terms.

"Mortgage Debt". A mortgage in & off itself is NOT "debt". It is a form of an attachment to secure a debt.

A "debt" would/could affect your credit score, a mortgage would not.

With respect to your contention that a Bond cannot affect your credit score, that is also incorrect. If your Bond is not paid, that can become part of a Tax Lien, which is then recorded at the Registry of Deeds. Tax Liens typically show up on Credit Reports.

[Bill14564]

Originally Posted by BrianL99

It is?

Please show me:

https://www.thevillages.com/homes/new-neighborhoods/

https://www.thevillages.com/cost-of-living/

https://www.thevillages.com/home-series/verandas/

Please show me where "Bonds" are mentioned.

In the cost-of-living document that you included below, which is the only one to break out any costs, if you hover over the "?" next to Average Assessment it mentions that the bond is included in that number.

No, it is not obvious and yes, I would like to see the full number that will be on the amortization schedule or even the yearly tax bill but the bond is mentioned.

[Jayhawk]

Originally Posted by BrianL99

It is?

Please show me:

https://www.thevillages.com/homes/new-neighborhoods/

https://www.thevillages.com/cost-of-living/

https://www.thevillages.com/home-series/verandas/

Please show me where "Bonds" are mentioned.

It's listed in EVERY one of the links you provided. It is called Average Assessment on the marketing piece, and reflects a monthly amount. Again, if anyone is not smart enough to ask what that means (or has the ability to understand it), whose fault is that?

[tophcfa]

My biggest problem with the whole bond thing is that 30 year bonds are issued to fund infrastructure built to minimum standards that starts failing around the same time the bonds mature. Then the CDD’s (funded by the homeowners) are on the hook to fix the related problems.

[OrangeBlossomBaby]

Originally Posted by Jayhawk

It's part of the COST of the home, whether it's pre-owned OR new. What's so hard to understand about that? And why is it such a topic of complaint? Everyone here has (or had) the bond, and if it's still unpaid, it gets full disclosure. Many just choose to either ignore it or later claim they never knew at all.

But I guess there has to be something to crab about, right?

There was never a bond imposed on the Historic Side of The Villages. Even now, when the double-wides are torn down and replaced with block and stucco, there is no bond.

[BrianL99]

Originally Posted by TomPerry

Actually it is to the buyer’s advantage to have the bond separate from the purchase price of the house! If it was included in the purchase price of the house, you would be paying property taxes on the value of the bond as long as you own the house!!

Not correct. Real Estate Tax assessments are ALL "relative". No property stands on it's own, it is valued in relationship to the other homes on the Tax rolls.

If what you said was true, people who have paid off their bond, would have their home assessed for more money ... that doesn't happen.

The advantage of CDD bonds, inure primarily to the developer ... who is able to develop projects, using "other people's money".

The one and only advantage I can think of to a homebuyer, is the intended reasons FL had to institute the CDD framework. It incentivized developer's to develop land that would otherwise not be developed, because it's location was less desirable and/or the infrastructure cost was prohibitive. Therefore, homes were easier to build and adding homes to the overall inventory, theoretically lowered prices.