[NJblue]

I think this IRS issue is just a tempest in a teapot. Sounds awful when you look at the magnitude of the dollar amount that the IRS questions, but, as Russ indicates, when you look at it amortized over the population of TV=, it really doesn't amount to that much.

To get a VERY rough handle on this, consider its impact on the amenity fee (if, indeed it can legally betacked on to the amenity fee or some other new fee.) Currently the amenity fee is used to pay for all the operations of all of the amenities. Plus it is used to pay the debt on the bonds used to pay for the amenities. Lets say that the debt paymants amount to half of the total amenity fee (just a WAG on my part, I'm sure you can look at the CDD web site and get precise figures). That amounts to roughly $65 per month.

Now, let's say that instead of issuing tax free bonds that the CDD had to issue taxable bonds. That would make the interest payments for the taxable bonds higher. I'm not an expert on bond rates, but let's say that interest rates for taxable bonds are 35% more than that of tax-free bonds. So, if the amount of the CDD budget for debt payment increased by 35%, the net impact on the amenity fee would be approximately $23 per month. This is less than one night of dining out. Would anyone change their plans to live in TV based on that potential financial impact?

These are just rough figures, but I now have to go out and use my amenity (tee time in 35 minutes) so I don't have time to research these numbers further.

[RVRoadie]

Originally Posted by JimJoe

My information is from the Sumter County Assessor site, the villages sales website, the MLS website, and from tracking styles of homes.
Amarillos are down to a low of 129k, many 159k, and most for about 169 to 79. They were running for over 200k just a couple years ago and at a high of about 239k. I am not talking about designers.
New homes on villages website now start BELOW 126k. I have never seen that before.
Now 562 resale homes listed on the villages website. Many pages with no pending signs on them.
Nationwide sales are dropping, resales and new. Price drops follow sales drops. Gov artificial attempts to save home sales using 8k and 6.5k tax credits, and record low interest rates are not working.

Jim

I still think you are misreading the situation in The Villages. I believe you are seeing a new class of Cottage homes with a lower entry point, but that is not an indication of falling prices. The developer is just trying to attract a wider range of buyers.

As to the appraisers office, I just got my new tax assessment and it shows an 8% decline in the market value of my house. However, a recent bank appraisal showed a 5% increase. The cheapest Whispering Pine was going for 190k in April of 2009. Today the cheapest is 200k.

The National economy is just not very relevant here, with the possible exception of those needing to sell a home to move here. Today's newspaper had an article on growth in The Villages and indicated that 60 new businesses had signed leases here in the last 12 months. Many of those are medical offices that are bringing in high wage jobs.

As to the job market here, about 3 months ago my 28 year old son lost his job in Myrtle Beach and moved back in with us. It took him a few weeks to get his act together and get his resume ready. He went to Colony Plaza and Sumter Landing in the morning and had three job offers that afternoon. Not great jobs, but not minimum wage either. He has steady work of at least 35 hours per week.

You don't have to go far outside The Villages to see the economy you are describing. I recently picked up a 2006 vacant foreclosed property in Fruitland Park at a cost of $45 per square foot. It didn't take much to get it ready for rent and it rented in 5 days with just a sign in the front yard. It is close enough to The Villages to be attractive to people working nearby.

For those waiting for better prices to sell their home in order to buy in The Villages, my advice is to determine a realistic price that will sell your home quickly. If you can make it work for you, then cut your loses now and come on down. At least you will be here enjoying The Villages lifestyle, and not at home wondering when you home value will come back.

[kentucky blue]

Originally Posted by JimJoe

.
New homes on villages website now start BELOW 126k. I have never seen that before.
Now 562 resale homes listed on the villages website. Many pages with no pending signs on them.

Jim

Jim Joe is right on the money with his analysis of the current housing market, i have felt the same way for well over a year now.But here is some good news, all the villagers that were concerned about the developer leaving TV after the build out, have nothing to worry about.Because of the housing recession throughout this country, and the double dip recession on the way, the Morse's aren't going anywhere for a long, long, looooooooooong time.Of course my right to be heard does not include the right to be taken seriously,............this is only my opinion, astute as it may be, just an opinion..