Summit greens dev. In clermont florida (Golf: transplants, real estate market, new home)

[Mike Rogers]

I have a question regarding the Summit Greens Development in Clermont Florida. The homes appear to look very nice, and there are pictures of the beautiful golf course in the development. My question is why the property values as well as the property taxes have dropped dramatically over the past few years. If anyone has any information it would be appreciated. I was looking at homes in that area, and came across some stats that where alarming.

Thank You,
Mike

[StillRoaming]

I know a few people in Summit Greens and hear only great things about the community. We looked at the new homes there when the development was being built in the early 2000's and thought they were very nice. The lots were small, but that's par for the course for the 55+ communities.

When first built, you could have picked up a new home there for mid-high $100,000's. When the real estate market fell apart in 2008, all of Central Florida was hit hard. It took several years for us to be back to the all-time highs of 2006 or thereabout. Prices now seem to consistently be over $225,000 for the smallest homes at Summit Greens.

The development is attractive and is well kept. Most of the people I have met there are transplants to the area. Sanctuary Ridge Golf Club, which used to be known as Diamond Players Club because of the pro-athlete investors, is a fun, rolling course with a restaurant and bar. Clermont is unique to Florida because we have hills.

As for taxes, there are a lot of people who live in the 55+ developments who might not quality for homestead exemptions. Someone who lives here full time would be given the exemption to lower their tax while those who use these homes as second homes would not. In other words, there can be disparity in taxes paid due to the circumstance of the individual owner.

Hope that helps some.