New home Prices Continue Down New home Prices Continue Down - Page 2 - Talk of The Villages Florida

New home Prices Continue Down

Closed Thread
Thread Tools
  #16  
Old 02-02-2009, 02:29 PM
villages07's Avatar
villages07 villages07 is offline
Sage
Join Date: Mar 2007
Posts: 11,070
Thanks: 2
Thanked 24 Times in 17 Posts
Default

Quote:
Originally Posted by downeaster View Post
Unless the bond is paid off the unpaid balance will be included in the closing statement on a pr-owned sale. The amount will depend on the original amount and number of payments.
DE..... maybe I'm interpreting this incorrectly....are you saying on a resale, that the new buyer MUST pay off the existing bond balance? Or, does he/she just inherit the balance and can elect to pay it off in total or pay it down yearly just as the original owner did?
__________________
Maryland (DC Suburbs) - first 51 years
The Villages - next 51 years
  #17  
Old 02-02-2009, 04:19 PM
downeaster downeaster is offline
Platinum member
Join Date: Jun 2008
Posts: 1,562
Thanks: 0
Thanked 8 Times in 5 Posts
Default

Quote:
Originally Posted by villages07 View Post
DE..... maybe I'm interpreting this incorrectly....are you saying on a resale, that the new buyer MUST pay off the existing bond balance? Or, does he/she just inherit the balance and can elect to pay it off in total or pay it down yearly just as the original owner did?
07,

I don't know. I am not saying the bond must be paid off. However, the bond balance, if any, will be addressed.
Any local RE broker would have the correct answer.
  #18  
Old 02-02-2009, 04:59 PM
Bogie Shooter Bogie Shooter is offline
Sage
Join Date: Sep 2008
Posts: 19,768
Thanks: 13
Thanked 6,128 Times in 2,725 Posts
Default

Quote:
Originally Posted by downeaster View Post
07,

I don't know. I am not saying the bond must be paid off. However, the bond balance, if any, will be addressed.
Any local RE broker would have the correct answer.
The buyer assumes the same obligation as the original owner.
  #19  
Old 02-02-2009, 05:24 PM
Peggy D Peggy D is offline
Veteran member
Join Date: Jul 2007
Posts: 656
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Quote:
Originally Posted by Russ_Boston View Post
NY - I see that one right here:http://www.thevillages.com/homes/new...&sid=799196964

I think that one may have a little issue (looks like power lines right behind?). It is the only one much under 200K.

But I do agree that there are some good prices on new right now (plus bond of course).

I like this style here: http://www.thevillages.com/homes/new...&sid=799190685
Russ,

TV is building the Bigonia with poured concrete walls instead of CB I
understand. A friend of ours was talking to the contractor. He said they
were trying this.
I like this house too. I'm told there are two other new models.
__________________
Wilmington, DE
Newark, DE
Ocean View, DE
Village of Hemmingway

Last edited by Peggy D; 02-02-2009 at 05:29 PM.
  #20  
Old 02-02-2009, 05:44 PM
uujudy's Avatar
uujudy uujudy is offline
Platinum member
Join Date: Oct 2007
Posts: 1,603
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Quote:
Originally Posted by F16 1UB View Post
2 years ago friends in Sable Chase bought an Amarillo that paid 20K more didn't even get blinds or fans. Good ol economy.
Yes F16, but consider that they've been living in the house and enjoying the Villages Lifestyle for those 2 years. $20K divided by 24 is less than $1,000 a month.

Judy
Not an accountant or an English major, neither
__________________
Toledo, Maumee, Lima, Columbus & Sandusky, Ohio
New Castle, Newark & Delaware City, Delaware
Lewisville, Pennsylvania
Bossier City, Louisiana
Salt Lake City & Ogden, Utah
The Villages, Florida
  #21  
Old 02-02-2009, 05:49 PM
Skip's Avatar
Skip Skip is offline
Platinum member
Join Date: Nov 2007
Posts: 1,623
Thanks: 0
Thanked 326 Times in 172 Posts
Default Closing Costs

Quote:
Originally Posted by Laker14 View Post
Add the bond, and the various fees that come along with buying brand new, and while the "sale price" was 240g, by the time they were done the actual cost was more like 280.
Dan L
You got that right. Closing costs on a new house are insane! (So is the total bond amount.)

Skip
  #22  
Old 02-02-2009, 06:13 PM
JohnN's Avatar
JohnN JohnN is offline
Sage
Join Date: Feb 2007
Posts: 3,784
Thanks: 6
Thanked 1,928 Times in 711 Posts
Default

My closing costs were a couple hundred bucks, and the bond was about $10K

course I had a patio villa, but still not so bad in my mind,

I shopped a lot of Florida real estate and for the lifestyle and the home, I think TV is just a bargain, IMHO
  #23  
Old 02-02-2009, 06:19 PM
NJblue NJblue is offline
Gold member
Join Date: Apr 2008
Posts: 1,276
Thanks: 4
Thanked 9 Times in 8 Posts
Default

Quote:
Originally Posted by Skip View Post
You got that right. Closing costs on a new house are insane! (So is the total bond amount.)

Skip
I didn't find that to be the case at all. Other than prorated stuff like amenity fees, taxes and bond (all stuff that is rightfully associated with the purchase of the house) and buyers' title insurance (which is optional) there were no other closing costs. However, we paid cash. If we had financed the purchase, then the mortgage company would have assessed quite a lot of fees as I recall; but I assume that they would have assessed those same fees regardless of whether it was a new or resale.
  #24  
Old 02-02-2009, 07:46 PM
jeffy jeffy is offline
Senior Member
Join Date: Jan 2008
Posts: 300
Thanks: 8
Thanked 60 Times in 21 Posts
Default

Quote:
Originally Posted by Skip View Post
You got that right. Closing costs on a new house are insane! (So is the total bond amount.)

Skip
As the others said, all our closing costs of our in-laws new home were covered by TV (with the exception of prepaids and optional title insurance.)

This is different than when we closed several years ago. When we bought in 2005 we did have a LOT of closing costs. They dont do that anymore.

jeffy
  #25  
Old 02-02-2009, 08:06 PM
Laker14 Laker14 is offline
Sage
Join Date: Dec 2008
Posts: 2,618
Thanks: 2
Thanked 2,925 Times in 1,061 Posts
Default

Here's what I have from the aforementioned sale..brand new , this is March 2007. A Camelia, the purchase price was $237,000

$5525 in closing costs associated with the mortgage (20% down conventional)

in addition to those, the pro-rated county taxes..which of course you pay no matter what,,

here are the costs associated with the new house purchase=

Mail Box Fee ..........................$190
Deed recording fees. ................156
Documentary Stamps...............1660
Utility Hook up........................2300
wAter hook up..........................700

underground electric Service Fee...165
Water and wastewater fee.......... 90
electric meter fee...................100

Building Permits....................3998

That came to a total of ......$9498

as far as I know that $9498 is from buying a new place. You wouldn't pay that on a resale...

In addition to those fees is the bond, which in this case was $20500.

So, in addition to the purchase price in this example, one would add the bond price (which may or may not be a factor in the purchase of a resale) and the $9498 that would not be a factor in a resale.

My understanding is that some of these charges may be picked up by the developer at certain times, depending upon market conditions, to "sweeten" the deal. I don't know if that's true or not. I heard that. Could be BS.

Correct me if I'm messed up on this. I think I get it, but I'm still crunching these numbers.

Dan L
  #26  
Old 02-02-2009, 08:08 PM
Laker14 Laker14 is offline
Sage
Join Date: Dec 2008
Posts: 2,618
Thanks: 2
Thanked 2,925 Times in 1,061 Posts
Default

Quote:
Originally Posted by jeffy View Post
As the others said, all our closing costs of our in-laws new home were covered by TV (with the exception of prepaids and optional title insurance.)

This is different than when we closed several years ago. When we bought in 2005 we did have a LOT of closing costs. They dont do that anymore.

jeffy
Jeffy, I should have read that before I wrote. THat would make a big difference when comparing new vs. resale, fer shur.
Closed Thread


You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 03:53 AM.