IRS Investigation - tax-free bonds

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  #16  
Old 02-22-2011, 03:48 PM
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Taj44 I happen agree with you. This issue is much more than whether the bonds should have been tax free. Friend or foe you won't get a straight answer from anyone around here. Someone mentioned on another thread to read Leisureville for some insight regarding TV which is good advice before you buy here. The author stayed with neighbors who had moved down here and invited him down. I met these folks once when playing golf. I wonder if they still live here? I pray it all works out well for all of us.
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  #17  
Old 02-22-2011, 03:49 PM
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I guess that was my point. Houses used to be an investment - if you were in a good area, had the right upgrades, etc., you'd get your money out of them and possibly make some profit. Now you cannot count on that at all. With the extremely high premiums on the water view lots, we decided to stay where we are. If for some reason, the market in The Villages went south, we could afford to walk away. I'd hate to plunk down $half a million and wonder if I'd be able to sell it for that in the future. No thanks.
Is that in the Villages?
  #18  
Old 02-22-2011, 03:55 PM
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I guess that was my point. Houses used to be an investment - if you were in a good area, had the right upgrades, etc., you'd get your money out of them and possibly make some profit. Now you cannot count on that at all. With the extremely high premiums on the water view lots, we decided to stay where we are. If for some reason, the market in The Villages went south, we could afford to walk away. I'd hate to plunk down $half a million and wonder if I'd be able to sell it for that in the future. No thanks.
Taj

EVERYWHERE the house market is taking a bath. It is less affected here than in most places....at least now. HOWEVER who knows what will happen to our home values if some of our own residents keep trashing this area and the developers. I challenge you to find any place in this country that is more solid than this place as an investment.

I have said way too much. I get so angry when it is the same thing over and over and over.

It is true there is nothing new about the IRS.
  #19  
Old 02-22-2011, 03:57 PM
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Taj

EVERYWHERE the house market is taking a bath. It is less affected here than in most places....at least now. HOWEVER who knows what will happen to our home values if some of our own residents keep trashing this area and the developers. I challange you to find any place in this country that is more solid than this place as an investment.

I have said way too much. I get so angry when it is the same thing over and over and over.
It is true there is nothing new about the IRS.
I agree!
  #20  
Old 02-22-2011, 04:11 PM
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At this stage of the game, I think the best place for up to date info in this subject is the POA monthly bulletin. They keep tabs on the status and will have an article if the status changes. If you want an independent view of whats hot in TV, this is a good start in addition to TOTV.

Note that the TV POA is an independent organization not tied to the developer.
  #21  
Old 02-22-2011, 04:21 PM
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Gracie, I do understand your feelings but the IRS issue is a legitimate issue for new buyers. I don't think the question was brought up to bash TV or the Morses but was an honest concern with hopes that an answer was available. Sadly, there isn't. It is a wait and see situation. There is no question that IF the final outcome is against the developers, it will affect our taxes and fees. However, as yet, we have no idea what will happen and we probably won't for many years -- there are still a few levels of appeals to go through before an ultimate settlement (if found against the developer) is reached.

I honestly don't think questioning the Morses' ethics affects TV property values. This is a beautiful community. It is well run; the homeowners care about the property; the homes are well-built; the Morses make sure everything looks good. Whether they do because they care about the appearance or because they do it to help them sell homes is irrelevant. It is what it is and, in this case, what it is is wonderful!
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  #22  
Old 02-22-2011, 04:31 PM
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Gracie, I do understand your feelings but the IRS issue is a legitimate issue for new buyers. I don't think the question was brought up to bash TV or the Morses but was an honest concern with hopes that an answer was available. Sadly, there isn't. It is a wait and see situation. There is no question that IF the final outcome is against the developers, it will affect our taxes and fees. However, as yet, we have no idea what will happen and we probably won't for many years -- there are still a few levels of appeals to go through before an ultimate settlement (if found against the developer) is reached.

I honestly don't think questioning the Morses' ethics affects TV property values. This is a beautiful community. It is well run; the homeowners care about the property; the homes are well-built; the Morses make sure everything looks good. Whether they do because they care about the appearance or because they do it to help them sell homes is irrelevant. It is what it is and, in this case, what it is is wonderful!
Redwitch. I am proud to know you and call you friend. Your posts are intelligent and reasonable and always make me rethink my views. I thank you for you courteous behavior.
  #23  
Old 02-22-2011, 05:30 PM
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Originally Posted by redwitch View Post
Gracie, I do understand your feelings but the IRS issue is a legitimate issue for new buyers. I don't think the question was brought up to bash TV or the Morses but was an honest concern with hopes that an answer was available. Sadly, there isn't. It is a wait and see situation. There is no question that IF the final outcome is against the developers, it will affect our taxes and fees. However, as yet, we have no idea what will happen and we probably won't for many years -- there are still a few levels of appeals to go through before an ultimate settlement (if found against the developer) is reached.

I honestly don't think questioning the Morses' ethics affects TV property values. This is a beautiful community. It is well run; the homeowners care about the property; the homes are well-built; the Morses make sure everything looks good. Whether they do because they care about the appearance or because they do it to help them sell homes is irrelevant. It is what it is and, in this case, what it is is wonderful!
Thanks Red for your intelligent post. Many of us have said that we love The Villages and enjoy the lifestyle here. But when people raise legitimate concerns about Morses' business practices or outstanding legal issues, I personally feel that we should give them honest answers. People should be able to buy in here with their eyes wide open. I personally feel it would be unethical to try and hide the facts, or pretend they don't exist, simply because I was worried about my home value.
  #24  
Old 07-09-2011, 11:02 AM
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Default IRS investigation

This sounds like it could be a pretty critical issue. Has anyone heard anymore or does anyone know what impact an adverse decision could have on property owners?
  #25  
Old 07-09-2011, 01:01 PM
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This sounds like it could be a pretty critical issue. Has anyone heard anymore or does anyone know what impact an adverse decision could have on property owners?
Here's the latest info I've seen on the IRS dealie-do:

http://www.districtgov.org/IRSupdate.aspx

Bill
  #26  
Old 07-10-2011, 11:48 AM
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Default IRS issue

This latest update makes it as clear as mud.
  #27  
Old 07-10-2011, 12:33 PM
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This latest update makes it as clear as mud.
That is the intent. I am told not to look to either the District or the POA to provide any detailed explanation because they haven't and they won't.

As residents of TV we are paying handsomely for use of various amenities and so I certainly can't afford an additional financial burden. So let's hope the Developer and District prevail.
  #28  
Old 07-10-2011, 01:41 PM
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That is the intent. I am told not to look to either the District or the POA to provide any detailed explanation because they haven't and they won't.

As residents of TV we are paying handsomely for use of various amenities and so I certainly can't afford an additional financial burden. So let's hope the Developer and District prevail.
Do you think they District & POA really have anything new to share?
  #29  
Old 07-10-2011, 03:42 PM
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The irs/bond issue has nothing to do with amenities. The proceeds from the bond sales was used for infrastructure (water, sewer,irrigation mains,storm drains,curbs and paving). This would normally be rolled into the price of each home, but here, the expense is kept seperate in the form of a bond payment.
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  #30  
Old 07-10-2011, 04:47 PM
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Boogie Shooter: The question is not "do you think they have anymoe to share?" No, the question to be asked is "Have they shared everything they know about this case to date?".............I think not

Mulligan: You are partly correct. However the Developer also had to calculate the flow of income from amenities which were then purchased by the District. I am not being negative or accusatory here only attempting to share information. Please don't shoot the messenger
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