U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Delaware
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 04-18-2008, 07:46 AM
 
19,922 posts, read 9,972,359 times
Reputation: 27341

Advertisements

Quote:
Originally Posted by Keats View Post
The thing that worries me about Nobles is it is huge(800 homes),and they don't look like there selling.Is that builder big enough to handle slow times,or could it be another bankrupcy. Thanks Keats
It will be 800 homes on 243 acres. Their goal was to build/assemble and sell 80 homes a year over a ten year cycle. They are the same builder who built Wild Meadows and they are already talking about the possibility of a third community but they didn't tell me where.

Charley
Reply With Quote Quick reply to this message

 
Old 04-18-2008, 07:45 PM
 
7 posts, read 38,674 times
Reputation: 17
Quote:
Originally Posted by CMTAD View Post
It will be 800 homes on 243 acres. Their goal was to build/assemble and sell 80 homes a year over a ten year cycle. They are the same builder who built Wild Meadows and they are already talking about the possibility of a third community but they didn't tell me where.

Charley
We're going down tomorrow to see Champions club.Then I'm getting a UNO pizza (my favorite),supposed to be a Chicago pizza,and then I'm going to the slots,if my wife doesn't drag me over to Nobles again.I have 2 years to retire,so I'm not in a hurry either.My wife loves the style of the houses at nobles,but I'm more concerned about the fishing in the area.I here it's pretty good,but fishermen are liars just like builders. Take care. Keats.
Reply With Quote Quick reply to this message
 
Old 04-21-2008, 10:30 AM
 
Location: PA
53 posts, read 102,081 times
Reputation: 44
Default Champions Club

Quote:
Originally Posted by CMTAD View Post
When we come down in August, I think we're going to give Champion's Club a look. I like Nobles Pond very much ... but I'm not locked in yet.

Charley
Charley
FYI The samples for the Americana Series at Champion's Club are not available for viewing yet. One model is almost completed and the others will be up in a month or so. I would call before going down. Wish I had.
I did visit Noble's Pond again to see their carriage homes. Very nicely done. I spoke to Holly there and found out that the lease you sign is for 25 years and the cap on the monthly fee is 4.9%. After speaking to her I am comfortable with the land lease option. Noble's Pond are modular homes and can be financed through conventional mortgages unlike the mfg. homes.
I did find When Pigs Fly and had a great lunch. Thanks to all who recommended it.
Kathy
Reply With Quote Quick reply to this message
 
Old 04-21-2008, 02:38 PM
 
19,922 posts, read 9,972,359 times
Reputation: 27341
Quote:
Originally Posted by kc50down View Post
Charley
FYI The samples for the Americana Series at Champion's Club are not available for viewing yet. One model is almost completed and the others will be up in a month or so. I would call before going down. Wish I had.
I did visit Noble's Pond again to see their carriage homes. Very nicely done. I spoke to Holly there and found out that the lease you sign is for 25 years and the cap on the monthly fee is 4.9%. After speaking to her I am comfortable with the land lease option. Noble's Pond are modular homes and can be financed through conventional mortgages unlike the mfg. homes.
I did find When Pigs Fly and had a great lunch. Thanks to all who recommended it.
Kathy
Thanks Kathy,

I plan to see Americana in August and do plan to contact them first.

On the Nobles Pond lease, one minor correction on the cap. It's either 4.9% OR the value of the CPI, whichever is greater. So if the consumer price index is 5.0% or more, they can go with the CPI instead of 4.9%. That is their protection against inflation and it's pretty standard in many of the land leases I've seen.

I've reviewed the CPI data since 1913. (Yes, I do my homework). The CPI was above 4.9% in the following years - 1946, 1947, 1969, 1970, all years between 1973-1982, 1989 and 1990. Since 1990, inflation has been held in check and the largest CPI was 4.2% Of course, there is no telling what the future brings.

I'm glad you enjoyed Where Pigs Fly. It's a favorite stop for me whenever I'm in town.

Charley
Reply With Quote Quick reply to this message
 
Old 04-21-2008, 04:34 PM
 
16,199 posts, read 10,545,017 times
Reputation: 28844
charley...........I didn't know Nobles Pond was a land lease?

Quote:
Originally Posted by CMTAD View Post
Thanks Kathy,

I plan to see Americana in August and do plan to contact them first.

On the Nobles Pond lease, one minor correction on the cap. It's either 4.9% OR the value of the CPI, whichever is greater. So if the consumer price index is 5.0% or more, they can go with the CPI instead of 4.9%. That is their protection against inflation and it's pretty standard in many of the land leases I've seen.

I've reviewed the CPI data since 1913. (Yes, I do my homework). The CPI was above 4.9% in the following years - 1946, 1947, 1969, 1970, all years between 1973-1982, 1989 and 1990. Since 1990, inflation has been held in check and the largest CPI was 4.2% Of course, there is no telling what the future brings.

I'm glad you enjoyed Where Pigs Fly. It's a favorite stop for me whenever I'm in town.

Charley
Reply With Quote Quick reply to this message
 
Old 04-21-2008, 06:24 PM
 
19,922 posts, read 9,972,359 times
Reputation: 27341
Quote:
Originally Posted by elizamary View Post
charley ... I didn't know Nobles Pond was a land lease?
It is.

Charley
Reply With Quote Quick reply to this message
 
Old 04-22-2008, 06:26 AM
 
16,199 posts, read 10,545,017 times
Reputation: 28844
Quote:
Originally Posted by CMTAD View Post
It is.

Charley

Oh okay....Thanks
Reply With Quote Quick reply to this message
 
Old 04-29-2008, 02:14 PM
 
Location: Middle Village, NY
4 posts, read 13,606 times
Reputation: 12
I just found this forum today and haven't had time yet to read all the posts. I am finding it very informative. We are looking to retire to Delaware to a 55+ community in a year or two.
Can someone please tell me the pros and cons of land lease?
If I don't own the land what happens if I want to sell ?

Susan
Reply With Quote Quick reply to this message
 
Old 04-29-2008, 06:34 PM
 
16,199 posts, read 10,545,017 times
Reputation: 28844
Quote:
Originally Posted by Sue&Fabe View Post
I just found this forum today and haven't had time yet to read all the posts. I am finding it very informative. We are looking to retire to Delaware to a 55+ community in a year or two.
Can someone please tell me the pros and cons of land lease?
If I don't own the land what happens if I want to sell ?

Susan
Hi susan,
We live in a land lease in Southern Meadows. There is a whole topic on land lease verses owning the land.
If you don't own the land, you just sell the home. Most sell at a profit.
you will hear pros and cons on this topic. listen to everything and weigh it out to suit your personal needs. I'll see if I can find the topic and put it up front for you to see.
Reply With Quote Quick reply to this message
 
Old 04-29-2008, 11:05 PM
 
7,316 posts, read 10,746,862 times
Reputation: 14797
Quote:
Originally Posted by Sue&Fabe View Post
Can someone please tell me the pros and cons of land lease? If I don't own the land what happens if I want to sell ?
Susan
Hi Susan,
Nobody can answer that question for you but a good, local real estate attorney. Since I'm not one I'm not able to even take a guess what the repercussions would be regarding any time left on your lease, should you want to sell your unit. Each subdivision/developer is different, and most of these communities are relatively new. So, the short answer is, before you sign any documents, have your attorney look them over. Don't rely on a sales agent in a model home to tell you everything. They are not looking out for your best interests.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Delaware
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 11:41 PM.

2005-2019, Advameg, Inc. | Please obey Forum Rules | Terms of Use and Privacy Policy

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top