Uncovering The Truth: The Pricetag Of Living In The Villages FL | Robyn Cavallaro
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- Опубликовано: 3 май 2024
- Discover what you can expect to pay for your home in The Villages FL this week May 3, 2024
Robyn Cavallaro
Florida Realty Investments
robyn@robyncavallaro.com
352-901-0838
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Praying for your son, Robyn! I hope all goes well.
Thank you so much! Surgery went well
Thanks for keeping us current!
You bet!
Good point on the bond issue. Thanks for the great video Robyn!
Thanks for watching
Never thought I'd see the day when 40 year old manufactured homes were over $100k but over $200K wow!
Agreed but that day is here
I never thought I would see the day when they sold for over $100k and you STILL have to pay $1000 a month lot rent/fees. Not in TV but certainly all over FL and other places.
It’s ridiculous
Hope your son is ok. Another great video.
Thanks
Thanks for the great info. Wonder how low the price will go. Was thinking about moving to The Villages, but decided to stay where we’ve been for 16 years , near the beach (West Palm Beach) . Maybe someday. Thanks again Robyn.
Thanks for watching
I have been in Construction for all my life. The Villages new is minimum,the resales are your better buy!
Sellers need to become realistic. It’s not 2020-2022 anymore. 300-400 sqft ain’t gonna fly now especially on smaller houses. If you bought between 2020-2022 you’re probably going to loose $$
True
Question please…what is the benefit of MLS vs VLS? Should you use a realtor if also looking/ purchasing from VLS. ?
If you are looking at pre-owned homes and want to see ALL inventory available you must use both MLS and VLS.
The taxes, Fire dept fees, insurance..thats my biggest concern..keeps going up.....the bond is the bond..
And taxes will keep going up regardless of where you live. The fire department assessment is minimal and not really an issue at only $383 a year! Thanks for sharing
Does everyone pay the same for the CDD? Or is it based on location/price/etc? Is that the same as the amenity fee?
Thanks - I enjoy your videos!
Thanks for watching! The Amenity Fee is now $195 for all homes purchased in 2024. The CDD is based on the District where the home is located and will be a different amount. Hope that helps
Robin. Have a question since the value of our homes are decreasing what are taxes rising ??
Taxes are based on the home selling price.
When folk come down for a lifestyle visit, do they rent like a model home from The Villages ? Or make their own arrangements ? Also, a pool home probably isn't an option for us. Do the community pools get over crowded on hot days ?
Pools are not crowded in the summer unless there's an activity going on.
To arrange a Lifestyle visit you must do that with The Villages sales office. They have specific homes they use as rentals. We have so many pools that being overcrowded is not a daily occurrence. I can remember July 4 holiday weekend the family pools were full but that is the only time I can remember having that issue
Food for thought regarding bonds for both new and resale. Look at the interest rate on the bonds. Many bonds established for the homes built between 2020 and 2023 all had interest rates in the 3% range. I far more economical to keep these bonds at those low rates then paying them off due the unlikelihood that mortgage rates will come close to those rates. When I see a newer home list and they advertise the "bond paid !!", its actually a huge negative for me as I know the seller has incorporated most of the bond int the asking price, which means anyone taking a mortgage will be paying for the bond at the mortgage interest rate (i.e. +6&). When deciding on whether to pay the bond in full always look at the interest rate on the bond. A 5% interest rate over 30 year will double the bond principle amount at the end of the payment term. Having a 3% bond would actually allow you to put the money you would have into a CD or in the market to earn more then the interest. Foolish to pay the bond off when interest rate on bond is less then 5%.
Agree with not paying bond off depending on the interest rate but disagree with the price of the home being more due to the Bond being paid in full.
@@Robyncavallaro Absolutely seeing resales of newer homes (built with last 4-5yrs) who's owners paid off bonds incorporating some bond recoup into the list price. But agree that the significant list price increase between 2020 and today is a result of the bubble that is not deflating all be it slowly.
The Villages is a land racket; sell before you die or your heirs will suffer...
@@myd0gr3x Why would they suffer? The Villages is a fantastic place for many people. Granted not for everyone, but heirs will have no problems selling the home if its priced appropriately.
@@michaelsd284 because Heirs will suffer all the taxes and fees while hoping to find a buyer...
it's built in robbery, and it's everywhere, not just the Villages...
Thanks for this. Bonds, like the ones in place at TV or such as Mello Roos in California is absolutely the fairest way to pay for development, infrastructure, schools, etc.
Don’t like bonds? Don’t like HOAs?
Don’t live in a place with bonds, HOA, or for that matter restrictive covenants and deeds!
It’s a choice.
True. That is what make America great Thanks for sharing
Had my appendix removed May 1!!!
OMG! Hope Chuck is taking care of you during the recovery. Have a great summer!
The home prices will drop then new construction will eventually stop!
I don't believe that is true in The Villages
Can you buy a house on the golf course for $350?
No. A home on the golf course you might be able to find starting at 500,000 but more than likely 600+.
Bonds should be illegal: First, the developer makes people pay for the Builder's investment constructing a new community -- after all, THEY decided to get into the construction business, so all initial costs/fees and such should be out of THEIR pocket, not the future home-owners. Then secondly they sell those same the house -- which is fine of course, but then the builder profits twice from the house sale itself and the bond pay't separately (in addition). This needs to be outlawed.
How many other businesses make customers (1) pay up-front to build the business itself (cost of the land, building, etc.), then (2) also make customers pay for the products/services produced by that business? The FIRST expenses should be solely the business owners' money, then when the homes are finished the builder sells them -- that's where the builder makes any profit, not earlier. A business owner recoups their "business start-up expenses" over time by selling the product and increasing their profit margin, not "double dipping" the consumer (hitting them twice).
Thanks for sharing
No developer anywhere will "eat" the cost of development infrastructure. Home buyers will pay for it all plus profit. That is the nature of the beast. If there were no bonds (or Mello Roos) than the cost of the sewer/water/schools/community centers/roads/etc. would be baked into the cost of the house. Instead of homes running $ 250-500K, with a 30 year additional payment (bond), the up-front price of a house would be $300-600K. Bonds allow people to "get in the door," so to speak, at a lower price point while paying the remainder of the actual market cost of the house over 30 years. Bonds are an absolute way to make homes more affordable for people over the long run.
@@putoluto5256 I had never heard of this Bond thing before in the 3 states I frequent (and try to keep up with the housing market), so I wasn't aware Bonds happen everywhere, including here in TX, CO & NM. Still sounds fishy to me but thanks for the explanation.
In the Hawaii real estate scene they have something else I wasn't aware of (way back when I was looking into condos/homes in HI) but very prevalent there: Leasehold. That was a concept (and promoted by Henry Kaiser in the 1950s) to make homes more affordable for people (and helped the commercial sector as well) while the land-owner keeps title to the land itself. Meaning, you do NOT own the land your house/condo sits on and leases need to be re-negotiated at the end of their terms. In some cases you can convert your leasehold to a fee-simple deed, but it's usually big-money do do that. So unless you get a leasehold EARLY in the life of the lease -- they're often for something like a 99-year term -- you could be throwing your money away if you buy towards the end of a lease IF the land-owner decides to raze the building(s) and make it a parking lot/golf course instead.
For one "famous" example, the Kahala condo building (in Hawaii Kai, Honolulu) -- where Jack Lord lived for most of the original Hawaii Five-0 TV show (after he spent 3 years at his Ilikai penthouse, as seen in the show's intro sequence with him on his balcony) -- SHOULD be selling now for $millions. However, the building is leasehold and a large condo (like he had, 3-bedroom IIRC) presently (and for some years now) is going for tiny fraction of that "should be" price as the Kahala's lease expires the Summer of 2027.
Well, at least the average Joe/Jane can own a condo there for a song -- maybe even Lord's -- at least for the next 3 years. Mahalo!
But then no one knows what the land-owner (Kamehameha Schools) will decide to do: Renegotiate the lease terms -- which could price most of the owners out -- or raze the building. It's very risky purchasing now at the Kahala I'd say even as upscale/top-tier as the Kahala is (HOA fees are pretty high though!), but some people DO like to gamble.
Still, leasehold is a "Hawaii thing" and I haven't seen leasehold properties elsewhere/on the mainland (commercial real estate aside of course).
-- BR
buy a home, can't afford to golf more than 2 times month...