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Old 06-02-2009, 10:59 PM
 
Location: Northwestern Indiana
5 posts, read 36,711 times
Reputation: 15

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Hi Everyone! I am new to this forum and site and thought I would post some questions out there for people that are interested in sharing some info.

We are looking to purchase a home in the falling waters subdivision in crown point, in (porter county side) and wanted to know if anyone knows any facts about what is going on in that subdivision. I have heard so many things about this subdivision from people that don't live there and have no founding facts or links to prove what they are stating.

I am really interested in knowing what type of fees/ bills people are paying or have had to pay to live there... i.e. conserv fees, water fees, sewer fees, taxes, and homeowner fees. I am also interested in knowing what folks have to say about the upkeep of the subdivision as the currect developer.

Thank you!
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Old 06-03-2009, 04:12 PM
 
3,599 posts, read 4,656,826 times
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Ah, Falling Waters.

Beautiful subdivision caught up in the wrong time in real estate history.

Right now there are 18 properties on the market - and 7 of them are REOs (foreclosures).

You can check property tax history through Porter County at Porter County Tax Office (http://www.go2gov.net/porter/tax/showSearchMain.do - broken link) ... just input an address and check tax history and that should answer your questions on tax breakdowns.
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Old 06-04-2009, 03:05 PM
 
4 posts, read 23,017 times
Reputation: 15
Default Falling Waters

There are low prices in the subdivision at this point but I have read a great deal from the Porter County Plan Commission minutes and it is an eye-full. Residents (it seemed like every occupied home was represented) crying for good reason over very serious matters in the subdivision - including but not limited to sink holes dotting subdivision streets up to 12 ft in diameter. I will tell you what - if there are sink holes present on the subdivision streets and it is not an isolated occurence (which it clearly is not according to the minutes) - there could be very serious issues related to settling of those home. I would be very cautious about taking the deal and buying there. Other serious concerns addressed repeatedly were little or no water pressure - when flushing toilets and taking showers. Lakes that are not treated whatsoever, gates that are supposed to be security gates are inoperable, many lots unsold, vandalism, frustrated homeowners wanting to just get out is going to lead to a rapid decline. These people were begging for help from somewhere and this is a private subdivision - not really under the jurisdiction of porter county - it is a really bad spot to be in. Oh - the fees - I had read in a newspaper article that the water treatment plant fees, once the bond is up can amount to a doubling of tax amounts for most homeowners. They were quoting 6-7k additional.

Just my 2c.
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Old 06-08-2009, 03:33 PM
 
Location: Northwestern Indiana
5 posts, read 36,711 times
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Hi Can you tell me how I might be able to see these meeting minutes - possibly send me the links? or direct me in the right direction? thanks so much...
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Old 06-19-2009, 11:21 AM
 
4 posts, read 23,017 times
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Default Falling waters.

Quote:
Originally Posted by bellamom View Post
Hi Can you tell me how I might be able to see these meeting minutes - possibly send me the links? or direct me in the right direction? thanks so much...

I was going to put links on here but I went to get the info and so much information came up I think it would be best for you to just type this into your search engine:

"Falling Waters Porter County Plan Commission Crown Point"

that will get you a WHOLE bunch of information on newspaper articles about the issues as well as the minutes and such.

You will have more than you need.

Let me know what you think.

We were ready to buy a house and saw the great value in Falling Waters - couldn't believe our eyes. Homes assessed at $700k plus going for less than $300k.

If it appears too good to be true, be very careful, this is your investment. I know that with roads buckling in huge patches you do have to worry about homes doing the same. This, among all of the other issues, made me walk in a different direction.

Funny thing is that we reviewed the subdivision when it was in its infancy and thought it was beautiful. We were not ready to make the move at that time but that was when lots and homes/lots were at a premium. I am so grateful that we were not ready at that time.

Write back with your insights, I would be most interested to know what you think.
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Old 06-20-2009, 07:37 PM
 
Location: Turn Left at Greenland
17,603 posts, read 25,027,853 times
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I just looked on gniarmls.com and the first 3 properties are bank owned sold as-is! I'd run away from this neighborhood! What the heck happened here????
__________________
If there won't be dancing at the revolution, I'm not coming.
Emma Goldman
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Old 06-25-2009, 04:40 PM
 
Location: Northwestern Indiana
5 posts, read 36,711 times
Reputation: 15
Well, I did some deep diving into the community. I contacted several home owners, the building and planning commission, the Indiana American water company and that is just to name a few....
FIRST OFF... I WANT TO POST A "HUGE WARNING" for anyone that is interested in FALLING WATERS….RUN.... and RUN VERY VERY FAST... and don't think twice about looking or going back.
Fact #1 - Porter County Asses. Office- Falling Waters is a "PRIVATE" Subdivision and therefore is maintained by the people and the homeowners association. Due to “extenuating circumstance” Taxes... ARE BASED ON A unique table and according to the treasure, auditor and assessor... there will not be a home in this subdivision under 8,000 a year (and that is with exemptions people). As and example… One house that is currently priced at 275,000 recently had been assessed at 799,000+…. WHAT???? This is ridiculous… THIS IS NOT MORNINGSIDE PEOPLE!
Fact#2 - Conservancy District - There is a cons district in this subdivision (hence private subdivision) and the yearly fee that is "attached" to your taxes is $1753 and increasing to as much as $2400 per year. This means your yearly tax bill will be as much as 10,400 and that is for the "lower end homes in falling waters".
Fact#3 Homeowner Association Dues are now at a whopping 700 per year and will only increase. The Dues were not suppose to exceed 600.00 per year. WOW
Fact # 4. Sewer Fees are now 54.00/ mo and will be increased to 135.00 per month and could change to as much as 225.00 per month. YES PER MONTH AND NO THIS DOES NOT INCLUDE YOUR MONTHLY WATER BILL, AND NO ITS NOT INCLUDED IN YOUR YEARLY HOMEOWNERS BILL.
Fact #5. There are at least two homeowners currently seeking attorney advice on these issues above as well as other issues that the developer never completed in the subdivision.
Fact #6. The Developer - ANTHONY FLORAMO, does not live in Indiana, and does not care to attend to the subdivision and has left the responsibility to the Homeowners Association.
Fact# 7. R.W. Armstrong was hired to assess the problems in the subdivision ( sinking streets, erosion, engineering.... ect etc. I can not get a copy of this report. But have been told that there has been confirmation of sinking streets, huge pot holes and engineering problems in the subdivision by both the planning and building commission of porter county.
Fact # 8 A $10 million bond was posted and given to the developer to complete the subdivision.... This is now the responsibility of each and every homeowner in the subdivision and will need to be paid back.... This of course is linked to your 2400 a year conservancy district fee and unless the remainder of the 350+ lots get built on and sell…. This fee will always remain and will eventually go up.

Here are some additional Fees…..
Water - 75.00 - 130.00 per month
Overland Sanitation Sewer Fee 5.00 - 15.00 per month
Thanks to everyone who replied and GOOD LUCK to everyone in there that owns a home…. While the subdivision is beautiful…. THE FACTS that everyone in there is better off OUT still remains. I don’t care what you are comparing your house to…. YOU ARE BEING CHARGED AND FEE’D TO DEATH.
RUN AWAY FROM FALLING WATER AND RUN QUICK …. YOU WILL NEVER GAIN ANY MONEY AS AN INVESTOR OR AS A HOMEOWNER…. YOU WILL LOSE!
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Old 06-25-2009, 04:50 PM
 
Location: Northwestern Indiana
5 posts, read 36,711 times
Reputation: 15
OHH and one more important thing I did forget to mention. Yes several residents do still have problems with WATER PRESSURE.... So some residents get water and some don't. There are problems with the gates ... they don't work.... I witnessed this several times while I was looking at homes in the subdivision. There are a total of 13 homes that are just left alone to rot and have not been touched in what seems to be over a year. Some Curbs are destroyed and others are not what they should be. ONE OTHER THING.... THERE HAS NOT BEEN A HOME THAT HAS SOLD IN THIS SUBDIVISION IN OVER 2 YEARS. There is ONE home pending that is $275, 000 which was listed by COLDWELL BANKER CATHY MIHOLOVICH FRIE.... IF AND WHEN THIS HOUSE DOES SELL.... IT WILL ONLY BRING DOWN FUTURE SELLS OF HOMES.... AS THE HOME IS A 4600 SF HOME ON THE WATER.
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Old 08-23-2009, 05:38 PM
 
1 posts, read 7,922 times
Reputation: 13
Default Falling Waters

WOW..... After reading the postings that ONE person wrote about Falling Waters they must be disgruntal or something, but bottom line they are NOT true as I have lived in Falling Waters for 3 years and LOVE IT! The Taxes and conservancy fee together for my 4400 square foot home are less than 5K per year, the water pressure is great, roads are fine, neighbors are friendly, wildlife everwhere, fishing in the lakes is supurb, GREAT schools, and the list goes on and on.... please ask the neighbors that do live here what they think as to my knowledge they all LOVE IT!!
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Old 08-26-2009, 01:08 PM
 
3,599 posts, read 4,656,826 times
Reputation: 2136
Quote:
Originally Posted by killerbbbs View Post
WOW..... After reading the postings that ONE person wrote about Falling Waters they must be disgruntal or something, but bottom line they are NOT true as I have lived in Falling Waters for 3 years and LOVE IT! The Taxes and conservancy fee together for my 4400 square foot home are less than 5K per year, the water pressure is great, roads are fine, neighbors are friendly, wildlife everwhere, fishing in the lakes is supurb, GREAT schools, and the list goes on and on.... please ask the neighbors that do live here what they think as to my knowledge they all LOVE IT!!
Strange. One post. Never been back. I'm always highly doubtful of post and runners.

Anyway, I took a drive through Falling Waters today as I haven't been through there in a while. And I have to say, it is a beautiful setting BUT there are many subdivions that are just as lovely that don't have the problems that Falling Waters has.

The roads ARE crumbling. There was not a single stretch of road that didn't have significant pothole repairs, big dips and areas that the road has crumbled enough to have spots of gravel near the curbs. And for a subdivision that is fairly young, it is a big warning sign.

It is NOT a gated community in the true sense. Heck, LOFS has more security (which is truly laughable) than FW. Sure, there's a gate. But it's open and no security guard is ever present. (I drive past there at least 3 times a week.)

Taxes. If you're sq. footage is correct and you're paying less than $5K, I'd be very worried that there's a mistake somewhere - or your taxes are going to be increasing soon. There are quite a few upscale subdivisions in Porter County who have lower taxes than most of the homes in FW and don't come with nearly the baggage and uncertainty that FW does.

Schools. There are some very desirable school districts in Porter County - and FW isn't in one.

I feel for some of the FW homeowners who must feel trapped & lied to. It's not a subdivision that I would recommend to anyone. At all.
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