[mickey100]

Originally Posted by Dr Winston O Boogie jr

Why would you look at it as profiting from someone's misfortune. Why would you not recognize that you are helping someone out of a bad situation.

I bought my house from a guy that had to move back up north and needed to sell in a hurry. He was very happy to take a small loss and was grateful that I came along. Another house in my neighborhood sold because the owner had died and his kids wanted nothing to do with it. They were very happy to take an amount considerably below market value to get the thing off their backs.

Absolutely. My neighbor's husband died and her house sat on the market for almost a year. She was living up north with her kids and had to continue to pay the monthly amenity fees, utilities, insurance and taxes while the house was unoccupied. She was thrilled when she finally was able to sell it, although considerably less than what she was asking.

[John_W]

Originally Posted by mickey100

As others have said, its a mix of pluses and minuses. The price you actually pay for a used villa will be less than the asking price. And you will have less or no bond to pay. This could easily equal $20K, ...

On CYV's the bonds aren't as high as single family cottages and designers. Our 2011 masonry CYV bond was $14,000. I believe we paid about $1100 on our tax bill last year for the bond. I think our current payoff is about $13,700 if we wanted to do that later this year.


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[John_W]

Also, just two weeks ago our neighbors from Connecticut who don't retire for 7 more years, we would see exactly every three months for one week. This last time they decided to sell the 2BR Marathon CYV and buy an Arlington CYV in Sanibel that was well over $200,000. In one week's time, they listed their home and bought a new home, before the week was up they sold their two year old home shown below.

Yesterday I met the new owners, they have closing today. The home was purchased for $161,000 in 2011 and was furnished nicely by Southern Lifetstyles and landscaped front and back by Mansfield. They listed the home for $199,000, which I thought was pretty high and sold it in two days. I don't know the purchase price but the seller said he made over $20,000.



Properties of The Villages

The info is still up today, but it may come down soon since they are having closing today Thursday 4/11/13.


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[Bonnevie]

so figuring he had the realtor fees, he probably got close to asking price

[Ohiogirl]

Originally Posted by hope2soon

right now, it seems like the cyvs between 466 and 466A are rather pricey with not much in the way of improvements. I don't blame the owners for trying to get the most they can and during the winter months cyvs flew off the market--I know I watch closely. Even the ones with the bonds paid are rather pricey and they would require some serious updating. I know you can offer less, but right now, I could get a new 3BR for what some of the 2BRs are going for even taking the bond in consideration. Like I said the ones in the middle of TV seem to be trying to capitalize on location and don't seem to have done a lot of improvements. Some seem like former rentals and literally have no upgrades.

Guess it just depends on what's on the market. A former rental (2BR CYV) just sold in our 2006 built neighborhood - no improvements that I saw online. But I would guesstimate that only 10% or less in our neighborhood are rentals. Most of us have done combinations of major landscaping, driveway painting, birdcages, lanai enclosures, window tx, flooring replacement, inside painting, storage space in attic, etc., plus our initial bonds were about $9,600.

Maybe rental owners are finally able to not lose money when they resell and are getting out of the rental business - they have probably found out that it is not an easy way to make money.

Yes, our roofs and HVAC systems are now 7 yrs old (some have transferrable 10 yr warranties on HVAC systems). Some window tx are very specific but many are things like upgraded blinds and inside shutters.

Just saying don't rule out resales.

[Bonnevie]

I don't intend to...am planning to look at some this weekend...along with new ones...hoping as someone said, I'll just know when I see it

[LynnDeb]

Originally Posted by Heartnsoul

the ONLY way you probably won't change anything is to design yourself which of course includes possible higher price, bond, taxes etc.. Resales can be great. Lots of people already did landscaping, floors, countertops, etc.. so great possibilities and may not even have a bond. You may not like certain things but can always change in time. Take your time and look, look, look. It will be fun either way to get the place exactly how you want it to be. Good luck

We bought a resale North of 466, no bond, mature landscaping and very little to change out...

[CFrance]

Also, see this thread about insurance companies denying sinkhole insurance to many used homes. Sink Hole insurance denied to re-sale buyers

This would be a killer for me.

[Barefoot]

Originally Posted by Heartnsoul

the ONLY way you probably won't change anything is to design yourself which of course includes possible higher price, bond, taxes etc.. Resales can be great. Lots of people already did landscaping, floors, countertops, etc.. so great possibilities and may not even have a bond. You may not like certain things but can always change in time. Take your time and look, look, look. It will be fun either way to get the place exactly how you want it to be. Good luck

I think you get way more for your money with a resale. Not only is the price negotiable, and probably the bond is lower or paid off, but it probably includes some pricey updates like a birdcage, solar tubes, glass front door, landscaping, attic stairs, summer kitchen, hot tub, painted driveway, etc.

I highly recommend the Village of Belvedere which is delightfully central and 5 minutes by golf cart to the library, Publix, restaurants, Walmart, Bealls, Ace Hardware, and a plethora of shops.