Originally Posted by SteveZ (Post 207852)

I'm not sure I agree with the "not yet" potential impact, and seriously doubt there will ever be any impact, no more than there was in the "Dreidame" suit and settlement.

The "stuff" in business is real, and the number of zeros in any business situation is relative to the number of zeros in the entire transaction. Suffice to say, what may seem astronomical to a single homeowner is not necessarily the same when dealing at the scale of this development. And how often it happens is indeed relative to the experience of people in transactions this size.

As far as a real estate agent's disclosure requirement, again, to disclose what? The fact that the local government entity is involved in a regulatory dispute with the federal government? If that were true, then each real estate agent would have to get a list from the state, county, city (as in Lady Lake), and CDD of every ongoing dispute and lawsuit (e.g., slip and fall, auto accident, police brutality claim, false arrest, employee harassment, etc.) and receive from counsel from each side the potential liability faced by each party, as taxes, insurance rates, etc. for them may fluctuate due to the litigation. I don't know of a single agent or broker who has ever solicited or received such a list from any civil entity of all of its potential or pending litigation, and disclosed to any client that the results may have some downstream fiscal (or other) impact on the client.

So, what we still seem to have here is a sort of "cry wolf" scenario, with no one able to quantify in any manner what, if any, impact may occur on any buyer, seller or current property owner. There's a lot of "what if" going on, but most of it isn't even "best guess."

If the intent of the "what if" guesses is to scare the developer into reacting in some panicked fashion for fear of lost sales, somehow I doubt that will happen. They seem too professional to fall into that trap. If the intent is to scare elderly people with claims that there may be unexpected major hits on fixed-income personal finances, or that they may not be able to sell a house, then shame on those who act that way.

If once the matter is cleared by the parties directly involved, that any property owner or group of property owners believe they have suffered any sort of reimbursable loss, the method to seek such compensation is known to all. Until then, the line between "seeking/sharing knowledge" and "rumor spreading" should be recognized and respected.

Originally Posted by Advogado (Post 207881)

I have never seen any government document containing the kind of scathing language in the IRS letter to the VCCDD. Have you read the letter from the IRS to the VCCDD? Something extraordinary is going on here, and I don't like where it seems to be heading.

Originally Posted by JimJoe (Post 207855)

I would tell the buyer that the IRS has issued a preliminary opinion that might affect the villages tax free bonds. I challenge anyone to say if their brother or sister or best friend were looking to buy a house here right now that they would NOT tell them. I would and I believe all or you would also. Whether a Realtor is required to, I don't know, but they should.

Originally Posted by Muncle (Post 207898)

Which demonstrates the unprofessionalism of the agent involved. When one party stoops to manhood-measuring contests, you can be sure their positions have some shaky foundations.

I would assure him that the sensible people were taking a more restrained approach, that there was no need to panic. I'd make sure he reread the articles from Janet Tutt and point out a few of the more rational posts on TOTV from folks like SteveZ and Kate.

Regardless of the IRS situation, I think it would be very valuable for any potential buyer to scan TOTV. It's important that he know that there are so many residents, potential residents, locals, and others who act like Chicken Little at the slightest provocation. And it's even more important that he know that there's a vocal group of Antis who claim to love TV but hate everything about the developer and live in fear that the Morse clan will sneak into their homes at night and steal their gold fillings. It doesn't matter the issue, be it a restaurant closing or non-resident using amenities, they will pitch a bitch and blame it all on developer greed. The Chicken Littles and the Antis can hurt property values as much or more than an IRS inquiry.




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Originally Posted by BJinTX (Post 207828)

Thank you for all the info. We still want to move.
Just need to work on the health insurance issue. Have even e-mailed senators.
My husband is a big time golfer. We were there last May and liked everything we saw. Like I said in my profie, we have family in Clermont.
I am sure i will have more questions as time goes on.
Thank you for being so kind. BJ

Originally Posted by Muncle (Post 207898)

Which demonstrates the unprofessionalism of the agent involved. When one party stoops to manhood-measuring contests, you can be sure their positions have some shaky foundations.



Oh, most assuredly, if my brother were thinking of moving to TV, I'd provide all the information I had to him. I would show him via TOTV that there were some folks who were panic stricken, fearful that there grandchildren would be forced to sell their GM and Chrysler stock to pay off the IRS. That there was much weeping and gnashing of teeth with clothes being torn asunder. But I would assure him that the sensible people were taking a more restrained approach, that there was no need to panic. I'd make sure he reread the articles from Janet Tutt and point out a few of the more rational posts on TOTV from folks like SteveZ and Kate.

Regardless of the IRS situation, I think it would be very valuable for any potential buyer to scan TOTV. It's important that he know that there are so many residents, potential residents, locals, and others who act like Chicken Little at the slightest provocation. And it's even more important that he know that there's a vocal group of Antis who claim to love TV but hate everything about the developer and live in fear that the Morse clan will sneak into their homes at night and steal their gold fillings. It doesn't matter the issue, be it a restaurant closing or non-resident using amenities, they will pitch a bitch and blame it all on developer greed. The Chicken Littles and the Antis can hurt property values as much or more than an IRS inquiry.




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Originally Posted by The Shadow (Post 212447)

Does anyone know of any time table for the resolution of The Villages vs. IRS issue?

Originally Posted by The Shadow (Post 212447)

Does anyone know of any time table for the resolution of The Villages vs. IRS issue?

Originally Posted by Advogado (Post 212466)

For the latest news, you can go to: http://www.poa4us.org/bulletins_file...etin200907.pdf

and attend the next POA meeting.

Originally Posted by Bob S (Post 212868)

I bought in TV a month ago fully knowing of this issue. While scary, I felt the risk was not too great when compared to the alternate of not buying.

I do believe however, that the developer took advantage of the residents in these transactions. There is no reason to become an apologizer for the developer just because we love TV. I don't believe that the developer should have been paid for a future stream of income for a supposedly free amenity. These free amenities were not meant to generate income in perpetuity. The amenity fees should just be for paying the first cost of the amenities, current upkeep and future repairs.