[Altavia]

Originally Posted by manaboutown

The bond is not a deferred tax. It is the home's share of the cost of the infrastructure for the immediate development sold on the installment plan with nondeductible interest. It is an added cost to the home, not a tax.

Just a point of view. Given the bond stays with the home, it is effectively a deferred tax levied through a corporation.

You do not own any of the infrastructure a you would paying off a loan on property.

"Taxes are mandatory contributions levied on individuals or corporations by a government entity—whether local, regional, or national. Tax revenues finance government activities, including public works and services such as roads and schools"

[charlieo1126@gmail.com]

Originally Posted by Aces4

Well, you know someone now. We sold it ourselves, first day of the ad and had three offers within an hour at the open house that day which we closed down early. The other house was shown the first day of the ad and we received an offer that day. Smooth closings and great sales results.

I have sold a couple of homes on first day it was posted , but I was talking about the full process , I still don’t understand what you were taking about with the bond

[jrref]

Originally Posted by Altavia

Just a point of view. Given the bond stays with the home, it is effectively a deferred tax levied through a corporation.

You do not own any of the infrastructure a you would paying off a loan on property.

"Taxes are mandatory contributions levied on individuals or corporations by a government entity—whether local, regional, or national. Tax revenues finance government activities, including public works and services such as roads and schools"

The bond is not a deferred tax. It's a loan you assume when you buy the house for the cost of the infrastructure. It can be as much as $2,000 or more on your yearly tax bill. What most people don't realize is the interest rate on the bond. Some are low like 3% and others are at 6% or higher. If you plan to stay in the home for 10 years or more a $25,000 bond could wind up costing you $50,000 when it's all paid up. Even if you stay in the home for 10-15 years you will be paying most of the interest up front just like a mortgage. The bond is a loan at probably a high interest rate that you need to pay off over 30 years. ( and most people aren't here for 30 years ). Of course you can invest the money and deduct the interest against the yearly bond payoff but you have to guarantee you are able to get a reasonable rate of return on your money for a very long time which isn't always possible.

As far as having the bond paid when selling? It's just another sales feature for your home. Also the reason why some homes sell in a day while others don't is becasue they are probably move in ready with a view. Many homes today are sitting on the market for a month or more so any benefits like the bond paid along with all the other benefits will make your home sell faster.

[Aces4]

Originally Posted by charlieo1126@gmail.com

I have sold a couple of homes on first day it was posted , but I was talking about the full process , I still don’t understand what you were taking about with the bond

When we sell a home, we do the leg work for establishing market value for our property with all improvements and then add any bond amounts we have paid off to the price. We then list, noting the bond is paid or provide the remaining bond balance in our listing. Full listing price is very rewarding.

[44Apple]

Anyone boasting in this thread re how fast or slow they sold their house should indicate which month/year did the offer occur. Puts your sale in better context for the reader.

[Aces4]

Originally Posted by 44Apple

Anyone boasting in this thread re how fast or slow they sold their house should indicate which month/year did the offer occur. Puts your sale in better context for the reader.

Those were facts requested when questioned about recovering bond costs. Boasting must be your cup of tea.

Okay, I’ll begin.. we’ve had over 20 real estate closings in our lives. So let’s say we’ve sold 12 properties and out of those 12, all had immediate offers however, one took 9 months to close and the other took two months. Those two years were 1980 which included high interest rates and our buyer’s home being rezoned for commercial business which took almost eight months and in 2004 when the unraveling for the 2005 housing crisis started.

[44Apple]

Originally Posted by Aces4

. Boasting must be your cup of tea.

???

[Aces4]

[QUOTE=44Apple;2148189]Anyone boasting in this thread re how fast or slow they sold their house…

Your words for a discussion taking place here.

[Tvflguy]

Originally Posted by jrref

The bond is not a deferred tax. It's a loan you assume when you buy the house for the cost of the infrastructure. It can be as much as $2,000 or more on your yearly tax bill. What most people don't realize is the interest rate on the bond. Some are low like 3% and others are at 6% or higher. If you plan to stay in the home for 10 years or more a $25,000 bond could wind up costing you $50,000 when it's all paid up. Even if you stay in the home for 10-15 years you will be paying most of the interest up front just like a mortgage. The bond is a loan at probably a high interest rate that you need to pay off over 30 years. ( and most people aren't here for 30 years ). Of course you can invest the money and deduct the interest against the yearly bond payoff but you have to guarantee you are able to get a reasonable rate of return on your money for a very long time which isn't always possible.

As far as having the bond paid when selling? It's just another sales feature for your home. Also the reason why some homes sell in a day while others don't is becasue they are probably move in ready with a view. Many homes today are sitting on the market for a month or more so any benefits like the bond paid along with all the other benefits will make your home sell faster.

Perfectly said IMO. We paid off our bond 2 years ago on our now 8 year old home. Got tired of having to pay it yearly along with the interest. We’re not concerned re the house sale, whenever that is, after we croak. It will be in the kid’s hands and bank accounts. We do believe a no-bond is a good sale incentive and getting $$ in return.

[Papa_lecki]

Paying off bond is like any improvement to a house.

Will you sell a house faster if your kitchen is redone? Probably not, you might get a percent of the improvement back.

Those who sold a house with a bond on day 1 don’t know if they would have had multiple offers on day 1 and gotten an extra $5,000 or $10,000 if the bond was paid - get a portion of the bond back.

Us personally, we looked at homes with a bond, but the bond balance is a debt, so we calculated that into the decision to make an offer or not. We bought a house with a bond, but it was mostly paid off.

At the end of the day, most real estate does boil down to location/location/location. Look at the threads on Richmond vs Deluna.

[Nucky]

We lived within a mile or so of the NJTP in 20 plus homes that we flipped over our lifetime. Some of them had a double whammy, they were in the flight path of Newark Airport also. It's noise that disappears after a short time. As a matter of fact I couldn't sleep when we got to The Villages because of the quiet.

We looked in DeLuna over this past weekend and based on our past experience it was a gigantic Nothing Burger Noise wise. I parked in the driveway of the house that interested us and with the hearing aides in with new batteries all I heard was a slight tire noise. Once inside the house without the A/C on I heard NOTHING. For us it's a non issue. I like the area that the house is in and it will probably be a go if we get the correct amount for our house. I'm almost certain it's sold already if they can get financing. The last storm is the reason for the move. We will miss the Historic Section immensly. Out of all the whopper beautiful homes we had up north we bought a Manufactured Home and I finally had that at home feeling.

We are risking a lot by moving but our neighborhood is changing quickly and not all for the better. We have some neighbors that we're going to miss big time but if they are up for it I'll come and get them, feed 'em and deliver them home. It's hard to imagine the day the mover goes up thee street and the Love Shack isn't home anymore. I better stop or I'll talk myself out of it.

7% interest sucks but it is what it is. I'll refinance when the time is right. Life's for living and that's what we're trying to do, safely.

[Stu from NYC]

Originally Posted by Tvflguy

Perfectly said IMO. We paid off our bond 2 years ago on our now 8 year old home. Got tired of having to pay it yearly along with the interest. We’re not concerned re the house sale, whenever that is, after we croak. It will be in the kid’s hands and bank accounts. We do believe a no-bond is a good sale incentive and getting $$ in return.

Two very experienced real estate agents answred that for me after we moved in.

Both said do it if you plan on spending the rest of your life here but you will not recover the total cost of the bond if you sell in the next few years

Since we might move to a larger house we still pay yearly

[charlieo1126@gmail.com]

Originally Posted by Aces4

Sorry you didn’t get top dollar plus your bond payoff. Our longest sale time was two weeks for one, the other two sold first day. Top dollar plus the amount of bond paid off on two and the total paid bond on the other. It sounds like you move a lot as we do.

I don’t know why you should say sorry didn’t get he bond payoff , if you read my message and your a real estate expert then you should have understood what I was saying

[charlieo1126@gmail.com]

Originally Posted by 44Apple

Anyone boasting in this thread re how fast or slow they sold their house should indicate which month/year did the offer occur. Puts your sale in better context for the reader.

your right the last home I sold was in Fenney about 18 months ago the market was just starting to move a little , that sold to second person to look before it even was posted ,of my other homes , 2 were golf course , another at Haciendas of Mission Hill-and the other in Virginia trace with a wall behind it,there were 2 to 3 year intervals between sales and there were some years away from here, they sold fast, even when he market had the last downturn , they have all been new homes but after the sale and before I move in I put down tile or wood , put plantation shutters, paint , take down cheap fans and put up expensive ones ,and 3 solar tubes ( bathrooms and usually in kitchen ) , I sell them all with furniture , and you be surprised how many people will pay up for decor that they could never pick out themselves, fyi they also come with new stove and dishwasher because I don’t cook ever and use plastic and paper for take out lol , and if your going to say it’s unhealthy ,I’m 83 , 135 lbs no pills lol

[Altavia]

Originally Posted by jrref

The bond is not a deferred tax. It's a loan you assume when you buy the house for the cost of the infrastructure.

I know it's confusing but Bonds are not loans. They follow the property, not the buyer.

I said the bond is "effectively" a deferred tax. That paid for a corporate bond financing infrastructure. Similar to a government bond financing schools and roads.

Unlikely any financial advisor would recommend paying it off given only a small percentage of buyers would consider it on a purchase decision.

Doubtful any one here will live long enough to pay it off with annual payments.

But of it makes someone feel better to give part of their heirs inheritance to a stranger, go for it.