Back from another Delaware Visit!

[Janeace]

Check the website for the Barclay Farms Civic Association. The owners of Barclay Farms apparently want out! Will their lot rent go even higher with the new owners? The Civic Associaiton is trying to purchase the community from the management, but the progress of negotiations is still up in the air according to the info on their website. Google it, see for yourself

Has the situation at Barclay Farms been resolved. I would not consider moving there with things up in the air like this.

[retiree2011]

Originally Posted by Janeace

Check the website for the Barclay Farms Civic Association. The owners of Barclay Farms apparently want out! Will their lot rent go even higher with the new owners? The Civic Associaiton is trying to purchase the community from the management, but the progress of negotiations is still up in the air according to the info on their website. Google it, see for yourself

Has the situation at Barclay Farms been resolved. I would not consider moving there with things up in the air like this.

Thanks for the heads up. I visited there, stayed overnight, and loved the location, right near Route 13. But would not consider buying till a decision is made on land lease versus ownership. That lease fee can really add up, over decades.

[retiree2011]

Originally Posted by Janeace

Check the website for the Barclay Farms Civic Association. The owners of Barclay Farms apparently want out! Will their lot rent go even higher with the new owners? The Civic Associaiton is trying to purchase the community from the management, but the progress of negotiations is still up in the air according to the info on their website. Google it, see for yourself

Has the situation at Barclay Farms been resolved. I would not consider moving there with things up in the air like this.

Janeace: I was going thru some Delaware info to pass on to a former co-worker now considering Delaware for retirement in a few years. They used to laugh at me for wanting to move there, now they want to, too! Guess CT taxes and COL are making them reconsider, too. Anyway in Aug. 2010, Delaware Today magazine was a special section with all the current 55+ communities listed. Barclay Farms was not listed, but probably because only resales are available and sold thru realtors now. However Nobles Pond, which was land-lease at the time with leases costing about $400/mo. was listed as having carriage homes starting at $179,900. That is the sort of home I would be buying since I am single and they are now priced starting at $169,900 with no land lease. So I am leaning heavily toward Nobles Pond but if Barclay Farms got rid of the lease I like the size of the community, the fact that it is built-out and the location cannot be beat, as far as convenience goes. A completed community has its advantages - no on-going construction, you know it will stay 55+, will stay rental-free (hopefully) - a community with a ways to go can come with changes.

Good luck in your search!
Eileen in CT

[Mec4U]

Originally Posted by Janeace

Check the website for the Barclay Farms Civic Association. The owners of Barclay Farms apparently want out! Will their lot rent go even higher with the new owners? The Civic Associaiton is trying to purchase the community from the management, but the progress of negotiations is still up in the air according to the info on their website. Google it, see for yourself

Has the situation at Barclay Farms been resolved. I would not consider moving there with things up in the air like this.

There seems to be no resolution yet as of this writing. My understanding is that the Civic Association, i.e. the homeowners themselves want to actually purchase the land from the Barclay Farms landowners. (The Delaware Association of Manufactured Homeowners has a clause which to my understanding prompts the landowners to give the homeowners "First Right of Refusal").

The homeowners, however, still have not received a reply to their proposal from the Barclay Farms lawyers. The homeowners are interpreting this to mean that at least as of now the BF landowners have not received any other outside offers, and they seem optimistic about this.


Now my personal feelings on this are (AND I MEAN STRICTLY PERSONAL--NOT BASED ON ANY FACTS OR INSIDE INFORMATION---JUST MY HUMBLE PERSONAL ASSESSMENT) I would assume that the Civic Association is a non-profit organization. Therefore, I would also assume that the owners of Barclay Farms would be a lot more comfortable selling the land to another land management company or individual rather than the homeowners.

If a landowner buys the land and keeps the community as is, then the homeowners will simply be paying a new management company who hopefully will not raise the monthly fee unreasonably. If they are smart, they will realize that increasing the rates will only place hardship on the seniors and reflect poorly on the management from a business standpoint.


The scary part is that the new management may NOT want to keep the community as it is. Even though it is not zoned for commercial purposes, they could theoretically want to sell the lots individually or build some other type of residential housing. This would mean that possibly each homeowner would either be forced to buy his lot or have his home moved out of there (Yes, those homes are moveable-but imagine knocking down the garages and foundations and having to move your home to God knows where!)


The question I have is: Even if Barclay Farms is legally required to give homeowners " first right of refusal", would the homeowners association
have to outbid any other offer that might be received from a new management company?


And even if the Civic Association can purchase the land, what are the financial ramifications for each homeowner?

I would appreciate any feedback, and please tell if and how my logic is flawed.


As much as I have been opposed to land lease properties, with homes in these communities now going for $65,000 to $100,000 when they were originally built at a cost of up to $200,000+, the land lease option is looking sweeter these days. And now that I am in my 60's and have no heirs, I am really not concerned as much about investment value anymore.

[kevin1080]

where do you in that you feel is most important


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[nuts2uiam]

Originally Posted by kevin1080

where do you in that you feel is most important


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[Mec4U]

Originally Posted by Janeace

Check the website for the Barclay Farms Civic Association. The owners of Barclay Farms apparently want out! Will their lot rent go even higher with the new owners? The Civic Associaiton is trying to purchase the community from the management, but the progress of negotiations is still up in the air according to the info on their website. Google it, see for yourself

Has the situation at Barclay Farms been resolved. I would not consider moving there with things up in the air like this.

I recently continued further inquiries into Barclay Farms, just to get some insight on what the residents are thinking. I am satisfied now that the non-profit status of the Civic Assn should not make a difference in terms of the residents buying the land from the current management. It sounds to me and to some of the residents that if the community purchases the land, Barclay Farms will essentially operate like a co-op where the residents collectively own the land. That would be wonderful because it would ensure that the community stays intact (i.e. no longer managed by an outside company or subject to the possibilty of the community being sold again.)

I don't think there would be a dramatic difference in the monthly fee. The only difference would be that the portion of the monthly fees now going toward lot rent would then go toward payment of the loan on the land. The fee would still have to include lawn maintenance, clubhouse, pool and other amenties. The residents might also have to pay a small amount upfront (Like maybe $500 per home) toward a down payment on the land they would now be purchasing collectively.

If the Civic Association is successful in buying their community, it would be tremendous cause for celebration, and I, for one, will be the first on line to buy a resale and get in that community!

But please remember my "disclaimer" LOL My info is based purely on hearsay and my own interpretation of what I hear. Please do your own inquiries and research. I would be doing a great disservice if I pretended to know exactly what is going on or if if you took my observations at face value.

Here's a link to the Civic Assn. newsletter if you wish to keep up with the latest info on the community.

Barclay Farms Homeowners Civic Association