Posts in category 'About The Villages Florida'
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The Villages Florida Bond Assessment
What is the CDD Bond Assessment? The Villages is divided into 14 residential CDDs, three commercial CDDs and two utility independent districts. Their infrastructure is financed through the sale of revenue bonds. The CDD Bond Assessment reflects each lot's proportionate share of the cost of building the infrastructure within its Community Development District or for which its District has responsibility. It is the most equitable method of distributing costs between the properties that benefit from the infrastructure. Infrastructure includes stormwater systems, underground pump stations, water retention areas, curbs, gutters, streetlights, transportation trails, underground piping, etc.
How does a District arrive at the amount? Does everyone pay the same a...
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The Villages Florida Assessments
The Purchase Price for a pre-owned home in The Villages, Florida is the "negotiated listed price," plus the assumption of any remaining CDD bond debt.* In the case of a new home purchase, the total purchase price is the "non-negotiable" listed price, plus any remaining bond debt, state doc stamps ($7 per every $1000 of purchase price), and the cost of title insurance (about 1% of the purchase price). For pre-owned home purchases, doc stamps and title insurance costs are paid by the seller.
CDD Bond Debt amounts vary significantly depending on the home's location. They may be paid off upon closing the sale or during any year. If left unpaid the balance will amortize and the corresponding principle and interest will be collected by the respective county along with property taxes,...
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The Villages Florida Housing Market
The Villages Florida Housing Market
Key Takeaways:
- The housing market is a hot topic right now, and after experiencing rapid growth over the pandemic years it looks to now be slowing down.
- Experts are expecting real estate values to fall over the next 12 to 18 months, before they stabilize and then eventually recover.
- There are buying opportunities, nonetheless, that will make your dream home affordable.
For many people, buying a home is the single largest purchase they're ever going to make. It makes sense to want to get it right. So, what will the property market look like over the next couple of years? Record high mortgage rates are putting pressure on property prices. After a period of record low interest rates, we'...
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Frequently Asked Questions About The Villages Florida
What are community development districts? Community development districts are special-purpose municipalities developed pursuant to Florida Statutes Chapter 190. They are an efficient and long-term way to finance, operate, and maintain infrastructure, e.g., wastewater treatment facilities, water and sewer systems, stormwater management, etc.
How are CDDs governed? Initially, the landowner(s), developer, elects a five-member board of supervisors that appoint a district manager to develop policies and procedures. After about six years, the homeowners living in the district become responsible for governance and elect their own supervisors.
How are CDDs Financed? State law permits CDDs to issue revenue bonds, the proceeds of which are used to finance the design and construction...
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The Difference Between Realtors and The Village's Sales Representative
Realtors are real estate professionals. Realtors belong to the National Association of Realtors (NAR) and are required to provided services consistent with a Code of Ethics that if violated may subject the Realtor to a substantial fine. What follows discusses the relationship that the sales representative and Realtor have with the buyer.
Florida Realtors are Transaction Brokers whose responsibility is to organize a real estate transaction between a buyer and seller of real property. The Realtor provides the buyer with homes that are listed by Multiple Listing Services (MLS) that fits the buyer's requirements, helps the buyer value the property and develop a negotiating strategy, prepares the purchase agreement and related documents, explains the buyer's rights and responsibilities, and coordinates an array of closing activities to facil...
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