[kentucky blue]

Originally Posted by The Shadow

All this brings me to a question that has been on my mind since the IRS reared its ugly head. The high achievers, the ones that can afford the best, the ones that excel in business, why does TV real estate have 22 pre owned houses ranging from $500,000 to $850,000 listed for sale? Are the money wise people jumping ship? Are they getting out while the getting is good?

Unfortunately, your list does not include the MLS premier listings or the 28 high priced Lake Shore Cottages still left ,that have all been reduced in price. What happened to all the buyers?The IRS situation needs to be settled.....................yesterday!!!!!!

[poromo]

Gracie Girl,
No one can deny that TV is one of the most sparkling places on earth. Comparing David (Stonecrest) to Goliath in this area is not a fair match.
However, I am very attracted to a truly gated community something that TV does not offer, even in Bridgeport. It is a very important issue for me and probably why I am taking so long to make a decision. However, at this point, I am leaning towards Stonecrest.
Poromo

[Taj44]

Originally Posted by The Shadow

I discovered TV in 1988 that was pre senior days for me. After that day it was my opinion Mr. Schwartz had built a community that no government to this day has had the ability to duplicate. SS was nearing completion at that time. People of my young age of 48 at the time would dream of some day after a product and successfully work career, of moving to the TV to live life in paradise. Some people were more successful than I for sure. Some people came to paradise and purchased homes that cost a half a million dollars plus. At appears those people can afford a large serving of paradise.

All this brings me to a question that has been on my mind since the IRS reared its ugly head. The high achievers, the ones that can afford the best, the ones that excel in business, why does TV real estate have 22 pre owned houses ranging from $500,000 to $850,000 listed for sale? Are the money wise people jumping ship? Are they getting out while the getting is good?

I expect you have people moving for the typical reasons that others in lower finanancial categories move - be closer to grandchildren, death of spouse, etc. And people who choose to spend their money on the more expensive homes may decide they'd rather build new instead of buy pre-owned, so they can get exactly what they want. I know of one couple who bought a new, expensive home, didn't like the neighborhood, put the house on the market and are building a new home in another area of The Villages. I looked online at some of the $500,000+ homes , and a number of them are on the north side, and appear a little dated in their decor, which will make them less desireable. At least one of them, at over $500,000 didn't even have granite countertops. Some of the other premier homes in Bridgeport, while high priced, and large square footage, are rather close to neighbors, and don't have any kind of view. The people probably paid too much a few years ago, and are pricing the homes too high now, so the homes are remaining un-sold. And of course, their are fewer potential buyers at that price point.

[EdV]

Originally Posted by Taj44

.......I know of one couple who bought a new, expensive home, didn't like the neighborhood, put the house on the market and are building a new home in another area of The Villages....

Must not of had enough 'Sparkle'.

[graciegirl]

Originally Posted by kentucky blue

Unfortunately, your list does not include the MLS premier listings or the 28 high priced Lake Shore Cottages still left ,that have all been reduced in price. What happened to all the buyers?The IRS situation needs to be settled.....................yesterday!!!!!!

I have been watching the Premiers and a number have been sold. Perhaps people in the market for a Premier may also like to build their own. I also know that in any real estate market the more expensive homes have fewer buyers. I also feel that the people who still have Premiers on the market are asking more than the market will bear and much more than they payed for them. Also some were purchased during the "boom" in real estate that drove prices up all across the U.S.

Senior people, even those with money, are usually pretty savvy shoppers, in my humble opinion and they won't pay more for a home than it is worth or more than a decent rise in price figuring in improvements and inflation, which in this case is not happening.

[EdV]

C'mon folks can we get back on topic. Back away from the kool-aid fountain and get outa the hot sun.

This thread is supposed to be about the IRS's investigation into the tax free status of certain TV CDD bonds. It's not about Stonecrest or the my community is better than yours silliness.

I know it's hard, but let's try to stay focused.

[laryb]

Originally Posted by kentucky blue

Unfortunately, your list does not include the MLS premier listings or the 28 high priced Lake Shore Cottages still left ,that have all been reduced in price. What happened to all the buyers?The IRS situation needs to be settled.....................yesterday!!!!!!

I do not profess to be an expert in the IRS issue, and as a matter of fact, I know very little about it. When we started our buying process a few months ago, we were aware of the issue and still bought. Having taken part in the TV "lifestyle" and after meeting many people who have a deep loyalty to TV, we really can't see the thousands of wonderful TV residents letting their way of life be destroyed. I might be naive, but I really believe in this place and the tenacity of it's residents. As far as the cottages in Lake Sumter are concerned, I stayed in 2 of them and they are very nice, but they are basically large designers in a great location. From what we saw on several model tours, you get a lot more house in the premier series for the same if not less money. After looking at both, unless money is not an object, I think the majority would go with a premier. But what do i know, both are out of my reach!

[The Shadow]

Originally Posted by poromo

Gracie Girl,
No one can deny that TV is one of the most sparkling places on earth. Comparing David (Stonecrest) to Goliath in this area is not a fair match.
However, I am very attracted to a truly gated community something that TV does not offer, even in Bridgeport. It is a very important issue for me and probably why I am taking so long to make a decision. However, at this point, I am leaning towards Stonecrest.
Poromo

Stonecrest, gated? If you are a non resident stop at the gate keeper and say I am going to play golf, he will give you a pass to display put it on the floor and go anyplace in Stonecrest you like.

Now if you live in Stonecrest and want to sneak into Katie Belle’s I know the secret password. Don’t ask.

[Jakel]

Hello, although I am new to the TV forum, I have read many things about the IRS situation, but several things I cannot seem to find out, and you all seem to know a lot about it, and I thought you could enlighten me.

My first question is who purchased the bonds?? Are these sold on the open market?? I know the residents purchase a bond when they buy a new home...it is app. $25,000 give or take depending on the costs of the property, but I thought that was a Bond for the roads and sewer etc. I am assuming we are talking about 2 different Bonds...am I correct??

My second question is....The Bonds that were sold totaled over 350 million dollars. Now I am not an appraiser, but I would think that a Golf Course would cost maybe 2 or 3 million, and a Rec center, maybe a million, a pool maybe $100K...so I am thinking that 350 million dollars could buy almost everything in the Villages, other than the homes, and they are paying for the roads and infastructure in their Home Bond. So who would agree to pay for Golf Courses and Rec Centers, assuming they were over their appraised value??

Finally, it seems that the people who would lose if the IRS comes down against the Bond issue, is the people who bought the Bonds and/or the Developer....how would the tax deductability of the Bonds affect the homeowners.

We really hope to move to the Villages, so we are just trying to be informed!!
(Please don't send me to read other threads)

[deb133]

Originally Posted by The Shadow

I discovered TV in 1988 that was pre senior days for me. After that day it was my opinion Mr. Schwartz had built a community that no government to this day has had the ability to duplicate. SS was nearing completion at that time. People of my young age of 48 at the time would dream of some day after a product and successfully work career, of moving to the TV to live life in paradise. Some people were more successful than I for sure. Some people came to paradise and purchased homes that cost a half a million dollars plus. At appears those people can afford a large serving of paradise.

All this brings me to a question that has been on my mind since the IRS reared its ugly head. The high achievers, the ones that can afford the best, the ones that excel in business, why does TV real estate have 22 pre owned houses ranging from $500,000 to $850,000 listed for sale? Are the money wise people jumping ship? Are they getting out while the getting is good?

Read last month's article of Forbes Magazine, "Where America's Money is Moving." Looks like #10 on the list is Sumter County, Florida!

http://www.forbes.com/2010/06/14/whe..._slide_11.html

[The Shadow]

Originally Posted by deb133

Read last month's article of Forbes Magazine, "Where America's Money is Moving." Looks like #10 on the list is Sumter County, Florida!

http://www.forbes.com/2010/06/14/whe..._slide_11.html

bad link it said.


Something's gone awry! The page you requested could not be found

[kentucky blue]

Originally Posted by Jakel

Hello, although I am new to the TV forum, I have read many things about the IRS situation, but several things I cannot seem to find out, and you all seem to know a lot about it, and I thought you could enlighten me.

My first question is who purchased the bonds?? Are these sold on the open market?? I know the residents purchase a bond when they buy a new home...it is app. $25,000 give or take depending on the costs of the property, but I thought that was a Bond for the roads and sewer etc. I am assuming we are talking about 2 different Bonds...am I correct??

My second question is....The Bonds that were sold totaled over 350 million dollars. Now I am not an appraiser, but I would think that a Golf Course would cost maybe 2 or 3 million, and a Rec center, maybe a million, a pool maybe $100K...so , it's a I am thinking that 350 million dollars could buy almost everything in the Villages, other than the homes, and they are paying for the roads and infastructure in their Home Bond. So who would agree to pay for Golf Courses and Rec Centers, assuming they were over their appraised value??

Finally, it seems that the people who would lose if the IRS comes down against the Bond issue, is the people who bought the Bonds and/or the Developer....how would the tax deductability of the Bonds affect the homeowners.

We really hope to move to the Villages, so we are just trying to be informed!!
(Please don't send me to read other threads)

Jakel,
I hate to be the one to tell you this, but you REALLY need to read the other threads on the IRS topic.There are numerous insightful post from people alot smarter than me ( i heard you out there........who isn't???).I"ve read the newspaper accounts and the 100 page IRS report, talk about a cure for insomnia. I've concluded, in as simplified terms possible,.................if it looks like a duck, quacks like a duck, and walks like a duck, it's a duck.Good luck Mr. Morse and your legal team, is Perry Mason available??.
So what should one do until the IRS renders it's decision? For all you concerned wannabe's........RENT!!Come to TV and rent a place, enjoy the terrific amenities, and the fabulous Villagers and wait for the uncertainty to be resolved. Just don't stick your head in the sand and hope it all goes away, because it's not happening. Finally .......caveat emptor.

[bkcunningham1]

Jakel, in a column on The Villages Community Development Districts' website, Janet Tutt, district manager, speaking about the IRS issue, said,
"So, the next time you receive
an e-mail regarding an action of
any of the District Boards or
the AAC, please take a minute
to review the Web site information
before becoming upset or
passing on an e-mail that may
not be accurate. And don’t forget
our Customer Service number,
753-4508, if you would like
to speak to any District staff
members about any issue or
rumors you need clarified."

Give them a call and see if you can get some information to educate yourself.

[The Shadow]

Originally Posted by bkcunningham1

Jakel, in a column on The Villages Community Development Districts' website, Janet Tutt, district manager, speaking about the IRS issue, said,
"So, the next time you receive
an e-mail regarding an action of
any of the District Boards or
the AAC, please take a minute
to review the Web site information
before becoming upset or
passing on an e-mail that may
not be accurate. And don’t forget
our Customer Service number,
753-4508, if you would like
to speak to any District staff
members about any issue or
rumors you need clarified."

Give them a call and see if you can get some information to educate yourself.

Good luck you all, I have been waiting for a return phone call from Janet Tutt for longer than I can remember.

[graciegirl]

Rent. KB

Wait. Shadow

The world is gonna go on. I can't do much about the mess it's in but when I am here, it is lovely for this day, this hour, this minute. And as much as I think that I am immortal, none of us have half a century left. I am so glad I am here and maybe I will hang around until I am 120.

Gracie, Sand Head.