55+ communities - Lakes of mt. Dora vs. Solivita (Tampa, Ocala: sales, foreclosure)

[Penelope55]

We have just returned from visiting Lakes of Mount Dora, Citrus Hills and Solivita.
We met the people of Mount Dora and loved them. The sales people were accommodating and even had us sit with a designer to customize a home to help with our decision. What bothered us was the amount of empty lots and the beautiful clubhouse was always empty. We saw no activities director or even card games going on. When we got to making a decision, the sales director informed us of a foreclosure problem with phases 3 & 4, which we should not be concerned about. We were.

We proceeded to Citrus Hills, located above Tampa. Beautiful, but not a dedicated 55+ community. Once you drive out of the gates, there was nothing so we left there.

Our last stop was Solivita. The complex is beautiful. It had all the amenities we wanted and we did put in a proposal for one of the homes already built. The only down side seems to be the crime problem in Poinciana. Although Solivita seems secure in itself, I was looking for some feedback on the problem. Everyone we spoke with assured us Solivita was safe, but I would be grateful for any input so we can make a sound decision before we hear back with a counter offer. Thanks for your help- Penelope

[cfIfan]

What you need to keep in mind when visiting these areas and speaking to the sales associates is they work for the builder, NOT YOU. Of course they will tell you the high foreclsore rate isnt a problem. What they wont tell you is what a high foreclosure rate means. Essentially, if these properties are in foreclosure then the HOA isnt collecting dues from these properties. Thus this means either the services will decline which in an over 55+ community is a substantial amount of serivces, or to cover the losses which they are not getting from these foreclosed homes, they will increase the HOA's from residents who are not in foreclosure.

In this market you should also keep an open mind to buying a home which isnt being sold brand new from the builder. There are a number of homes available on the resale market in excellent condition which may be at a much better price point than the builder is selling for, and without working with a realtor to pull up this info for you you will not know. So if you are workign with a realtor ask them to pull these up so you can make a comparrison on whether the builder is offering you a good deal.

In terms of Solivita, it is one of my favourite 55+ communities. It is in Poinciana which given its distance down in Poinciana is a con in my view, it does have other pros. there is some shopping close by and from people who i have worked with who i have sold to in the past it is a comunity which they enjoy living in which does speak volumes about the community. Also from their point of view, they dont work and although it is kind of out of the way, its not as if they have a daily commute so this may be something to keep in mind also.

Good luck

Nick

[Penelope55]

Thanks for the information. We did put in an offer on a new home on the builder's "hot list" but we have not heard back from them yet. Our timetable is set to move in 1 1/2 - 2 years. I will keep your name and contact you as we get closer.

[catshot]

Be careful. The Lakes of Mount Dora are going through a restrucutring of some sort.

[annerk]

None of the above. I plan on moving to King's Ridge when I retire in 15 years.

[nyfan]

We liked Lake Ashton over Solivita and the many Ocala area 55+ communities over Poinciana.
When at Solivita a Resident told us in confidence there have been several robberies and crime is a constant threat around Poinciana. Also to us Poinciana seemed very remote & isolated.

[frankandsusan]

Can you expand your comment about Lakes of Mount Dora going through a restructing ? Where did you hear about this?
We are looking at purchasing alot there, but are concerned about your comment.
Thanks Much

[solivitagirl]

We have been living in Solivita since 2006. Even though I wish Poinciana were a moe upscale neighborhood, this community is wonderful with terrific amenities. We searched many 55+ communities around Florida; this was definitely the most beautiful one. We have many great friendships here. Crime is not an issue IN Solivita; very safe here and they really are strict about letting nonresidents in. It's nice being not too far from all that Disney has to offer, downtown Kissimmee (really cute area) and Celebration (great area to hang out in). Also, love visiting the beautiful Millenium Mall, Winter Park and Lake Eola. Plenty to do outside of Solivita. That was important to us. Don't like Lake Ashton at all. It is in the middle of nowhere and not anywhere as nice as Solivita. Ocala is just too far north and not near anything appealing.