[quote=graciegirl;925363]The VILLAGES OF LAKE-SUMTER INC purchased 440 Tarrson for $115,000 + approx $5,000 to remove unit.

[quote=TVMayor;925381]
I stand corrected. But I still don't always agree with the POA's assessment of things.

Oh now, Marion! Did you hear that from a Villages sales rep or insurance salesperson or did you check that out with an outside insurance broker? Do you think all of the homeowners in manufactured homes had a tough time getting insurance? Bought our home and had insurance in less than 20 mins! Just had to verify that the home 'tie down system' met current code! It was a snap!

That is what we did we bought a manufactured home for under 100,000 and are almost done with our up grades we love this side and our house this allowed me to retire and live comfortably do some traveling and not worry about finances

I heard it from several sources. One was a real estate person, a second was from our mortgage lender when we went for prequalification, and third was from several people who live here on the historic side, another was from an insurance agency that we called to ask. We were told by the insurance agent that there were several insurance companies that would insure home built earlier than 1986 but that it would cost more. Since we ended up buying a site built home in Orange Blossom Gardens it was no longer a concern for us.

If you ever have occassion to discuss manufactured home ins with another potential buyer here, feel free to contact me and I can refer folks to our broker - outside of and not affiliated with The Villages - and most important - not expensive! :)

[quote=TVMayor;925381]I'd be really surprised if it only cost $5,000 to remove these units. There was a crew at the one on my street for over a week. Then another crew worked for two days to remove all of the concrete.

And what makes no sense to me is that these lots are valued at somewhere around $40,000. That means that, if it does cost only $5,000 to remove the unit, they are paying $120,000 for a $40,000 lot. I know that the developer is a shrewd guy and knows how to make money but this doesn't make sense to me.

So if they're paying $100,000+ for the lots how much are these homes going to sell for?

[quote=graciegirl;925363]I don't recall seeing any for sale signs on these homes nor do I remember seeing 40 or more manufactured home for sale in thevillages.com. I don't think that the developer is forcing anyone to sell their homes. I'm just trying to figure out what exactly is happening.

I was told by a neighbor who supposedly talk to someone who knows that the developer was making offers to people who have a mortgage and want to get out.

Thank you for posting this photo. When these houses become available for sale, I hope someone posts this info. on TOTV.

Really??
 

Is this some sort of "developer bash", or simply a comment not based on the reality of the pace of home sales in the south end of TV?

[quote=Dr Winston O Boogie jr;926223]It's a time proven fact that ultimately real estate will revert to it's highest and best use and value. That can often take a long time, but it always happens. In a residentially developed area, that's known as "urban redevelopment".

What's happening in the historic district is the Developer apparently intervening to speed the process of the redevelopment of homes which the owners can''t afford to improve and in some cases simply can't afford to own. That could be the result of the age of the owners, deteriorating personal finances, or even being "upside down" with their mortgage loans. The picture of the home being built posted by Schaumburger above, shows a simple Villages ranch home with a garage, probably carrying a selling price well within the range of prices in the district. Remember in the historic district there are no bonds, so the selling price of the new home can be well within the range of prices in the district, probably in the low to mid 100's. Yet by replacing older deteriorating structures with new homes, the demand and price of other nearby homes will increase as new buyers see what is possible, buying older homes and replacing them as they come on the market. Existing owners might be prompted to sell to new buyers as the value of their homes increases as the result of the new construction.

It seems to me another great idea by our Developer to control the speed of the urban revitalization that is needed for some properties and areas of the historic district--"seeding" the revitalization that would occur over time anyway. The ultimate result will be a "freshening" of the entire district, at a pace much faster than would otherwise occur relying on normal market timing, but replacing deteriorating homes with new ones consistent with the character and affordability of the rest of the district. Personally, I think the quiet intervention by our Developer is a brilliant and responsible way to revitalize the historic district.

[quote=Villages Kahuna;926333]These homes were purchased for roughly $100,000 each. Then they were removed and the infrastructure sound them has been demolished at who knows what cost. The highest priced homes in the historic district are around $150,000. I can't imagine that these new homes will be sold for any less than $250,000. There are very few homes on this side that would sell for anywhere near that amount.
As I said before in a previous post, paying $100,000+ for a $40,000 lot does not make any sense to me. But I know that the developers know what they are doing. It will be interesting to see what happens.

My neighbor, two doors up the cul-de-sac sold their home here on the original side a few months ago for $189,000. They were the original owners and built the house. They moved to a condo in Maryland to be closer to their children who were concerned for their failing health. My neighbors backed out just before closing and are now back here in their house!

God bless them. They said it cost them about $15,000 but it was worth every penny to know they love it here and want to die here. I love their story and I love them. I'm glad they are back home.

Maybe it is worth every penny of the $140k to run off the riff raff (such as the way under 55 dope dealing long haired pit bull owner and the golf cart graveyard owner). The new houses will be priced at a point that will bring in better neighbors (at least $250K). :jester::jester::jester:

Incoming.