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Old 12-04-2010, 03:57 PM
 
19,922 posts, read 9,967,586 times
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Quote:
Originally Posted by NY2DE View Post
Yes Mary2014, I too wonder of how this new strategy has affected the present occupants as well. I do hope they got the better deal. It hadn’t occurred to me to see if their home prices have risen. Wow Charley…a 40 – 60k hike that is quite substantial and something to look into if I can get around to visiting Delaware early next year.

Goin’2DE, LOL…go with your gut I say…since Feng Shui isn’t going to live there. Actually, I would get into viewing plenty of HGTV and design magazines to get some idea…really, whatever you decide…good luck with.

And definitely the best of luck to you Little Eggplant with your home showing…hope all goes as planed or better.
Actually it makes sense to me. I went to the website this morning expecting to see about a $50K increase for the land. Assume that the reason the HOA at Nobles Pond was double the others was because of the leasing of the land. So take that (approximately) $2,500 extra per year times 20 years (my arbitrary number) and you get $50,000.

I'd like to echo the good luck for Little Eggplant. They've been waiting quite a while for their buyer to arrive. I hope this one is "the one".
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Old 12-04-2010, 04:12 PM
 
Location: Queens, New York
75 posts, read 123,536 times
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I didn’t think the changes would have gone into effect yet and was thinking of checking out the web site sometime this week to view the changes. Yes, I guess your math would be spot on given the difference in pricing. I would suspect the current owners wouldn’t have to re-negotiate their contracts because of all the added cost that would entail. It would be interesting to hear more on this.
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Old 12-04-2010, 04:16 PM
 
19,922 posts, read 9,967,586 times
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I think it would be pretty awful to go to those who bought in good faith and say "Hey guess what? We're changing the rules. You have to buy the land from us now also." Maybe they can work out a deal where the extra money paid in the land lease each month goes toward the purchase of the land and eventually, they become de facto land owners. This of course now changes the property taxes these folks will pay. Since the tax is based on the value of the home and land, and with land now being part of the equation ...

Stay tuned. This should be interesting to watch. Hopefully someone who purchased at Nobles Pond will find us and share what's happening.
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Old 12-05-2010, 12:03 PM
 
7,316 posts, read 10,734,997 times
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I believe future phases of Nobles Pond may be selling in Fee Simple Interest.The entire tract is 343 acres, or so, with many planned phases and original subdivision plan indicates 1,031 lots. All the streets have been named and are identified in Public Record, along with lot numbers. (Local talk, it's the Eddie Evans Farm).

Haven't heard anything new about Nobles Pond Crossing's annexation into the Town of Cheswold. Originally, it was 2-5 years away, but they're 2 years into it.
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Old 12-09-2010, 12:06 PM
 
Location: Queens, New York
75 posts, read 123,536 times
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This is an excerpt from a Remax newsletter I get:

Quote:
"This is big news and a change I am very happy to see. What does it mean to you if you are thinking about buying at Nobles Pond? Until last week, all homes being sold in this community did not include the land. Your monthly fee also included rent of the land on which your home sat.

Fee Simple means that when you buy the house you are also buying the land it sits on. That can be important for so many reasons both now and in the future. Banks and mortgage companies prefer to lend money on "real estate" and real estate requires that you own the land. Can you sometimes finance a home on leased land? Yes, but it depends on the terms of the land lease and you don't always get the best interest rates. Homes on leased land don't always appreciate to the same extent as real estate and resale can be difficult. So, this is a great change at Nobles Pond for everyone."
Rdlr, thanks for this information. You’re saying that they’ve started going fee simple with the new phases of development. I had no idea about the Cheswold annexation.
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Old 12-16-2010, 06:12 AM
 
Location: Felton, DE
560 posts, read 803,479 times
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They started building another new house on our street yesterday...footings are in. I cannot believe that those guys were working out in that blustery wind...brrrrr! In our cul-de-sac ext month they're scheduled to start the first Roesville house with a full basement. Should be interesting watching that.
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Old 12-17-2010, 07:32 AM
 
45 posts, read 85,220 times
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Default Nobles Pond

Things have been pretty quite lately. I thought there would be more buzz about Nobles Pond going fee simple. I am extremely happy about this development. Nobles Pond was always my first choice although I had reservations about land lease. I was willing to do it because the lease was for 35 years and I really loved Nobles Pond, but now it is a no brainer for me. I know the current residents are excited too and they are working with management to make a clean transition. I do not know all of the particulars of how this is going to work, but it should become clear in the very near future. Anyone looking for a +55 community in Kent County should now give Nobles Pond a real good look. It is a lovely community with great amenities and excellent management. The prices of the homes are competitive and stick built. I expect that owning the land and house will mean increased activity at Nobles Pond and that is good for everyone involved. Well good luck and Merry Christmas to all of my fellow Delaware house hunters. If this trend continues, Delaware will be filled with nothing but transplants. lol
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Old 12-17-2010, 07:58 AM
 
Location: Delaware
388 posts, read 848,504 times
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While I, too, initially like NP and then crossed them off our list because of the lease issue, my 2 other main problems with them were: 1. the floorplans did not cut it for us - odd shaped layouts, living room AND great room, and in general very large homes at a time when we all should be downsizing, no? And 2. I did not like the idea of a paid (by homeowners) activities director. This smacks of organized agendas at a nursing home and that was a complete turn-off. I did like the expanded front porch and nature trail winding through the property, however. But the floorplans was something I could not get around. Just my 2 cents.....
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Old 12-17-2010, 08:13 AM
 
7,316 posts, read 10,734,997 times
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Quote:
Originally Posted by TomBee View Post
If this trend continues, Delaware will be filled with nothing but transplants. lol
TomBee...........The transplant trend started sometime in the 1940's when I was a kid. Having worked along side my parents in a Mom & Pop store on the old Rt. 13, which only had one lane, I remember talking with customers from NY, NJ, PA, and everywhere else, and being puzzled as to why everybody was moving to Delaware. As time went on, the caravan picked up pace, and today it's a steady stream. Native Delawareans are much out-numbered here today, and Delaware is known as the "transplant state for retirees". I've witnessed it from the beginning.
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Old 12-17-2010, 08:37 AM
 
45 posts, read 85,220 times
Reputation: 39
Default Nobles floor plans

little eggplant, Nobles Pond now has several smaller floor plans and are quite appealing for people who need to down size. These new models are open and come in two or three bedroom options. The Fairfield is particularly nice and the one we have chosen. Again, if you have not been there in a while, I would take another look. I do know that the fees have been lowered now that it is fee simple.
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