[Quixote]

Originally Posted by justjim

Some resales are priced higher than market. Some sellers think their home is worth more than it really is and some are looking for a big profit. Most would be Villagers are pretty "sharp" about the home market. However, occasionally not! If you are looking for a "real bargain" such as a "sacrifice sale", hard to find in TV by the average buyer. A resale with a fair market price, however, is out there. Bottom line, it really does depend on your preference and desired location. Good luck.

We bought two resales, both so-called “sacrifice sales” though we feel we paid perhaps only slightly less than fair market value even after all their dropping of prices prior to our seeing them and then subsequent negotiations. Both couples were going into assisted living, their units were ready for them, and they HAD to sell.

The first was a small Designer with tons of desirable landscaping, screened front porch, blinds and other window treatments on all windows, all appliances, all ceiling fans, a stunning dining room chandelier which had replaced the builder’s fixture, attic stairs and floor, water treatment unit, and on and on. ZERO bond. Golf cart included, contents of garage (every hand and power tool imaginable), some older AND newer furniture, both inside and outside, even a computer. House was listed with TV Realty; we were introduced to the owners by their neighbors who are friends of ours; sellers were able to contact realty office and cancel their contract. (We understand this can no longer be done.)

The second house is a Courtyard Villa (Anna Maria) end unit with stunning outside landscaping giving the villa “curb appeal” not often seen in a villa. Inside were upscale upgrades: high end laminate flooring, top-of-the-line carpeting, all blind and window treatments, all ceiling fans, all appliances included plus garage door screen (which we removed—the only thing we didn’t like). Bond was $5,000, now paid off. Inner courtyard was original other than a few plantings which is EXACTLY what we wanted in order to create our own private vision. We bought this house through an outside realty company with whom we were more than satisfied.

Both homes centrally located; we can go anywhere in our electric golf cart, including all three town centers (when Brownwood opens) and return without fear of running out of power. Both houses built in 2004, AFTER the mandated structural changes, meaning our homeowners’ insurance is very reasonable. We have friends who were intent on new construction, bought a smaller CYV in mid-block with a small yard and paid more than we did AND have a much bigger bond AND had to provide everything from window blinds to ceiling fans to appliances. Yes, of course, to each his or her own—we’ve heard many people in TV say that for what they consider their last home, they want to start from scratch—but we feel we did infinitely better on resales both times. And remember, the prices on new construction are chiseled in stone; an asking price on a resale is not the same as a selling price....

[2BNTV]

Originally Posted by KEVIN & JOSIE

Good info....but we HATE TREES. We are tired of a half acre of constant sticks, leaves, Hickory Nuts, Acorns, grass, etc. No green, just concrete sounds great!

Reminds me of my dad. You guys think alike.

Born in the country and became a city slicker. He loved knocking down walls to rebuild another one.

Did I mention he supervised only?

[justjim]

Originally Posted by KEVIN & JOSIE

Good info....but we HATE TREES. We are tired of a half acre of constant sticks, leaves, Hickory Nuts, Acorns, grass, etc. No green, just concrete sounds great!

Kevin & Josie I am with you when it comes to raking leaves. We once had 12 oaks and a couple others on our little acre on the lake. However, I do like a view and want some green. Arizona didn't interest us much because mostly rock and little green! If you want new, its south TV. Resales are all over TV. Its your choice as there are pro and con of both. Even though I could maybe save a few dollars with a resale by the time we got it "our way" the price would be about the same and I would have an older home with older "everything" vs. "everything" new. That's the biggest difference IMHO.

[justjim]

Originally Posted by Quixote

We bought two resales, both so-called “sacrifice sales” though we feel we paid perhaps only slightly less than fair market value even after all their dropping of prices prior to our seeing them and then subsequent negotiations. Both couples were going into assisted living, their units were ready for them, and they HAD to sell.

The first was a small Designer with tons of desirable landscaping, screened front porch, blinds and other window treatments on all windows, all appliances, all ceiling fans, a stunning dining room chandelier which had replaced the builder’s fixture, attic stairs and floor, water treatment unit, and on and on. ZERO bond. Golf cart included, contents of garage (every hand and power tool imaginable), some older AND newer furniture, both inside and outside, even a computer. House was listed with TV Realty; we were introduced to the owners by their neighbors who are friends of ours; sellers were able to contact realty office and cancel their contract. (We understand this can no longer be done.)

The second house is a Courtyard Villa (Anna Maria) end unit with stunning outside landscaping giving the villa “curb appeal” not often seen in a villa. Inside were upscale upgrades: high end laminate flooring, top-of-the-line carpeting, all blind and window treatments, all ceiling fans, all appliances included plus garage door screen (which we removed—the only thing we didn’t like). Bond was $5,000, now paid off. Inner courtyard was original other than a few plantings which is EXACTLY what we wanted in order to create our own private vision. We bought this house through an outside realty company with whom we were more than satisfied.

Both homes centrally located; we can go anywhere in our electric golf cart, including all three town centers (when Brownwood opens) and return without fear of running out of power. Both houses built in 2004, AFTER the mandated structural changes, meaning our homeowners’ insurance is very reasonable. We have friends who were intent on new construction, bought a smaller CYV in mid-block with a small yard and paid more than we did AND have a much bigger bond AND had to provide everything from window blinds to ceiling fans to appliances. Yes, of course, to each his or her own—we’ve heard many people in TV say that for what they consider their last home, they want to start from scratch—but we feel we did infinitely better on resales both times. And remember, the prices on new construction are chiseled in stone; an asking price on a resale is not the same as a selling price....

Congratulations sounds like you did well with your purchases. I assume you must rent one of them out? In both cases you bought through a real estate office. Sometimes a lot easier to negotiate with a third party involved. We have done the same in the past including re-decorating and reselling the property. However, that is the past----retired to TV and doing some of the "things" we didn't get to do as much of in our working years. However, perhaps OP would like to follow your example.

[jimbo2012]

Originally Posted by Quixote

Both houses built in 2004, AFTER the mandated structural changes, meaning our homeowners’ insurance is very reasonable. .

The code changed in mid 2005 so I think they were built to old code.

[Bill-n-Brillo]

Various versions of the FL building code - - - -

From Florida's Department of Business and Professional Regulation ( Florida Building Code Online ) :

Here are the different versions listed: 2010, 2007, 2004, 2001
Florida Building Codes Home Page

Bill

[jimbo2012]

Thanks Bill I said 2005 I guess it was 2007 I should have referenced.

Here's a site telling us the major changes proposed in building code requirements, it underscores the importance of knowing which code a resale was built to.

[KEVIN & JOSIE]

Originally Posted by jimbo2012

Thanks Bill I said 2005 I guess it was 2007 I should have referenced.

Here's a site telling us the major changes proposed in building code requirements, it underscores the importance of knowing which code a resale was built to.

How do you guys find all of this stuff? Now I'm interested in reading the codes and how they compare. Had no idea they changed within years. Thanks

[Bill-n-Brillo]

Originally Posted by KEVIN & JOSIE

How do you guys find all of this stuff? .........

I can tell you what color shirt you have on right now, Kevin.......



Bill

[jimbo2012]

Bill don't tell them, we need job security.

[eweissenbach]

Originally Posted by jimbo2012

The bond is no big deal, $100 month should not push you to buy a resale.

Landscaping I want to design my own.

I want to start with clean and new, along with the new building code, also new U can get sinkhole, in a resale U can't get it !

That alone offset the bond issue.

Also U have 5 years on termite protection.

I STRONGLY disagree that the bond is "no big deal". I had a Villages realtor try to tell me that last year and I felt she was insulting my intelligence. The bond on new homes is in the $20k range for cottages and designers, and the interest on the bond is in the 6% range. The interest on a mortgage can be had in the 4% range right now. The interest on the bond is not tax deductible, so the real rate is 6% while the real rate (with the tax deduction) on the mortgage is 2.5 to 3%. If you pay off the bond it is unlikely that you will be able to recoup it on resale, whereas if you amortize it the interest is problematic. Now, I am not saying the bond is a reason to not buy new, but I am saying it is a drawback and should be taken into consideration. What I do when comparing home prices is add the bond remaining to the asking price to determine the real cost of the home.

[asianthree]

Originally Posted by Bill-n-Brillo

I can tell you what color shirt you have on right now, Kevin.......



Bill

is it blue?

[mulligan]

What you don't see on the building code site is weather or not the county you are dealing with did or did not adopt that code, or any part of it. That is a home rule option, and every county is different.

[glgene]

Originally Posted by eweissenbach

I STRONGLY disagree that the bond is "no big deal". I had a Villages realtor try to tell me that last year and I felt she was insulting my intelligence. The bond on new homes is in the $20k range for cottages and designers, and the interest on the bond is in the 6% range. The interest on a mortgage can be had in the 4% range right now. The interest on the bond is not tax deductible, so the real rate is 6% while the real rate (with the tax deduction) on the mortgage is 2.5 to 3%. If you pay off the bond it is unlikely that you will be able to recoup it on resale, whereas if you amortize it the interest is problematic. Now, I am not saying the bond is a reason to not buy new, but I am saying it is a drawback and should be taken into consideration. What I do when comparing home prices is add the bond remaining to the asking price to determine the real cost of the home.

But let's compare apples to apples. A resale house, with lower bond, will require major repairs (e.g., roof, A/C) sooner than a new house with a higher bond. I think you need to factor in the speed-up of such housing costs.

Gene

[Bill-n-Brillo]

Originally Posted by asianthree

is it blue?

I could tell you, but then I'd have to...........ummm, never mind!

Bill