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Old 10-25-2013, 02:23 PM
Location: NJ
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How is the area over in Seven Springs? I have a relative who purchased a condo there. Are sinkwhole and insurance problems here too? The only thing I see is his condo on thegolf course is 400 ft from the Anclote River. I wonder if flooding would be an issue. The HOA fees are very high for that area.
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Old 10-25-2013, 10:41 PM
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Flood will be a problem if you have a loan it is required by banks and sink hole insurance isn't required by banks so not so much a problem. With both these things to deal with it is very hard on the resale value.
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Old 10-26-2013, 07:06 PM
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We had some fast and easy closings over there and the properties appraised for close to list price while we were the highest coming in suggested list price after our CMA showed the more realistic price compared to what 2 agents from other office had stated.

We list and closed within 6 weeks with a buyer with a mortgage.

There maybe some sinkhole homes but keep in mind that over the last couple of years some homes wrongly were classified as sinkhole homes to scam ins. Companies instead of having normal settlement cracks.

On Seven Springs the County is working on certain parts of the road to get the drainage issues resolved. Even a small part next to the road in certain places was obtained as eminent domain to resolve the issues.
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