New Bond Assessments New Bond Assessments - Talk of The Villages Florida

New Bond Assessments

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Old 01-06-2025, 01:48 PM
LoisR LoisR is offline
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Just read two articles in today's Daily Sun about two new Village developments to be built (Bellaviva at Whispering Hills and Cypress Reserve).
Both have posted yearly assessments of over $8000 for a single family home.
Am I correct in this figure?
How many people can afford this?
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Old 01-06-2025, 02:05 PM
retiredguy123 retiredguy123 is offline
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Note that a bond is not an annual assessment. It is a lump sum loan that is amortized over 30 years and charged to the property owner as principal and interest. The property owner can also choose to pay off the loan to avoid paying the interest. If the owner chooses to pay off the loan, it must be paid off all at once.
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Old 01-06-2025, 02:13 PM
Bill14564 Bill14564 is offline
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Originally Posted by retiredguy123 View Post
Note that a bond is not an annual assessment. It is a lump sum loan that is amortized over 30 years and charged to the property owner as principal and interest. The property owner can also choose to pay off the loan to avoid paying the interest. If the owner chooses to pay off the loan, it must be paid off all at once.
Whatever you want to call it, and Sumter County calls it a non-ad valorem assessment, it is paid every year until it is paid off.

In addition to principal and interest there is an admin fee. Paying it off early saves the interest plus the admin fee. Don’t pay it off early and you can pass the balance to the purchaser.
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Old 01-06-2025, 02:36 PM
retiredguy123 retiredguy123 is offline
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OP, it looks like your figure is correct. The bond amount for a typical single family house in Cypress Reserve is estimated to be $87,408.62, and the annual bond payment to be $8,348.69, to include principal, interest, and the admin fee. As to how many people can afford it, I assume that a lot of people will be able to afford it.
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Old 01-06-2025, 02:48 PM
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OP, it looks like your figure is correct. The bond amount for a typical single family house in Cypress Reserve is estimated to be $87,408.62, and the annual bond payment to be $8,348.69, to include principal, interest, and the admin fee. As to how many people can afford it, I assume that a lot of people will be able to afford it.
Wow that is high
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Old 01-06-2025, 02:58 PM
VApeople VApeople is offline
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Don’t pay it off early and you can pass the balance to the purchaser.
Do you think the purchaser will notice the house comes with an unpaid bond of $80K?
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Old 01-06-2025, 03:08 PM
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Do you think the purchaser will notice the house comes with an unpaid bond of $80K?
For almost all cases, the house will not come with an unpaid bond of $80K. Only a very few homes started with a bond that high. Any resales with a bond will have some of it paid off. The disclosures for the home will include the bond. The agents are sure to mention the bond. The bank may mention the bond.

So yes, I think the purchaser will notice but no, he won’t notice an unpaid bond of $80K.
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Old 01-06-2025, 03:24 PM
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Originally Posted by LoisR View Post
Just read two articles in today's Daily Sun about two new Village developments to be built (Bellaviva at Whispering Hills and Cypress Reserve).
Both have posted yearly assessments of over $8000 for a single family home.
Am I correct in this figure?
How many people can afford this?
Let's assume that anyone who buys that property can afford the annual bond payment, or pay it off up front.
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Old 01-06-2025, 03:30 PM
charlie1 charlie1 is offline
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Quote:
Originally Posted by LoisR View Post
Just read two articles in today's Daily Sun about two new Village developments to be built (Bellaviva at Whispering Hills and Cypress Reserve).
Both have posted yearly assessments of over $8000 for a single family home.
Am I correct in this figure?
How many people can afford this?
This is not being developed by The Villages and is not part of The Villages from what I can see. It is a separate development by Marsan Real Estate Group.
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Old 01-06-2025, 03:31 PM
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Quote:
Originally Posted by LoisR View Post
Just read two articles in today's Daily Sun about two new Village developments to be built (Bellaviva at Whispering Hills and Cypress Reserve).
Both have posted yearly assessments of over $8000 for a single family home.
Am I correct in this figure?
How many people can afford this?
if the properties are nice enough, they will find buyers.

I can tell you with absolute certainty I know one guy (very well) who can't afford it. He also can't afford a Porsche Cayenne. Yet somehow, he finds a reason to go on.
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Old 01-06-2025, 03:42 PM
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Originally Posted by VApeople View Post
Do you think the purchaser will notice the house comes with an unpaid bond of $80K?
Please any person who has done their due diligence knows there is a bond. Asks what the balance is. It not a secret
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Old 01-06-2025, 04:20 PM
Bogie Shooter Bogie Shooter is offline
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Originally Posted by charlie1 View Post
This is not being developed by The Villages and is not part of The Villages from what I can see. It is a separate development by Marsan Real Estate Group.
OP should correct his wrong information if this is true.
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Old 01-06-2025, 04:31 PM
Stu from NYC Stu from NYC is offline
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Please any person who has done their due diligence knows there is a bond. Asks what the balance is. It not a secret
The problem is many people will not do their due diligence and blindly go ahead
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Old 01-06-2025, 05:20 PM
kansasr kansasr is offline
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Originally Posted by Bogie Shooter View Post
OP should correct his wrong information if this is true.
There is no indication in either of these public filings that this is The Villages Land Company.
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Old 01-06-2025, 05:21 PM
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Originally Posted by Stu from NYC View Post
The problem is many people will not do their due diligence and blindly go ahead
My parents first visit was 2004, their paper with “how much does it cost to live in TV”, listed about 14 items, one of them was bond estimate. Of course in 2004 not much was built. I still have their dvd, the cost pages, and their hand written note about each cost. In original note booklet.
Our cost page in 2007 was basically the same items, but cost was slightly higher on amenities fee, and bond on the current new neighborhood. When our oldest looked at homes in 2018 the agent assigned to them gave them the bond amount without the need to ask. I have found mls has a tendency to leave out bond cost, unless pressed

I don’t think I have ever met anyone that said “I had no idea what the definition of bond cost” and we have lived in multiple villages (5).

But many were confused that their Water bill was outrageous. They knew there was amenity fee, just didn’t realize that’s how the fee was paid.
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Last edited by asianthree; 01-06-2025 at 05:36 PM.
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