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Old 01-29-2011, 08:19 AM
 
52 posts, read 199,534 times
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My husband and I are seriously looking into relocating in Saint Johns, possibly Durbin Crossing. We drove around a couple of weeks ago and noticed that there is a significant drop in price between homes in DC and Aberdeen. I know that DR Horton is in a lawsuit or something...is that the reason for the low prices? My concern is that those prices may eventually lower the value at DC. Am I wrong? Your input is appreciated.
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Old 01-30-2011, 11:34 PM
 
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This may be part of the reason Florida Community Development Districts
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Old 02-05-2011, 07:47 AM
 
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Thank you for the info! It's scary, isn't it? I wonder about the other CDD places
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Old 02-05-2011, 08:33 AM
 
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Many developers in Florida are in bigtime financial trouble. Do your research by googling their names. and the names of their HOA Associations. Huge housing developments were started all over northern St. Johns County when the market was flying high. Most lured home buyers with lavish amenities that no longer are being adequately financially supported. Now foreclosures on the developers are starting and because there isn't the expected volume of housing to support the HOA, the HOA fees rising higher than anyone expected. Be very careful, take your time getting informed and use City-Data to communicate with current homeowners.
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Old 02-05-2011, 03:29 PM
 
52 posts, read 199,534 times
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Quote:
Originally Posted by ssclulow View Post
Many developers in Florida are in bigtime financial trouble. Do your research by googling their names. and the names of their HOA Associations. Huge housing developments were started all over northern St. Johns County when the market was flying high. Most lured home buyers with lavish amenities that no longer are being adequately financially supported. Now foreclosures on the developers are starting and because there isn't the expected volume of housing to support the HOA, the HOA fees rising higher than anyone expected. Be very careful, take your time getting informed and use City-Data to communicate with current homeowners.
Thank you for your sound advice
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Old 02-05-2011, 04:31 PM
 
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If they are in default what does that mean to the people that live there? Is it transperant to them or is there ramifications ?
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Old 02-06-2011, 12:56 AM
 
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Spy169,

We asked that same question but the only one we could get an answer from was the builder we interviewed which made everything seem rosy.. of course they were trying to sell us a house. :-)

I'm not sure how you could find out unless maybe if you contacted the organization that provided the information in the link I posted above. Our realtor was also not sure what would/could happen if they were in default.
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Old 02-06-2011, 01:13 PM
 
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Ask a lawyer who is knowledgeable about financial law. My position would be that there are many choices in communities where you might like to live and there are builder / developers who are still on very solid financial footing. Why take a chance if you can go in another direction?
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Old 04-11-2011, 01:32 PM
 
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I live in the Greenstone Condo's that are D R Horton built and run by the Amberdeen Association, tried to sell the condo and they are not even fininaciable per the banks, DR Horton only built 5 out of the 12 he was supposed to build, the grounds are not kept, fields are so unkept that people use them as a parking lot, the lake is green, there is a supply shed that has never been removed with junk outside of it everywhere! Then, get this! the association sends out a letter saying we are not even allowed to have potted plants on our own property! There are several condo's in here that do not pay their fees so us others keep getting accessed higher and higher, not sure what is going to happen in here, only way to buy one is cash, we paid 132,000 and could not even sell it for 70,000 because the bank will not loan a penny on them!!!
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Old 04-15-2011, 03:39 PM
 
52 posts, read 199,534 times
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Quote:
Originally Posted by sharry605 View Post
I live in the Greenstone Condo's that are D R Horton built and run by the Amberdeen Association, tried to sell the condo and they are not even fininaciable per the banks, DR Horton only built 5 out of the 12 he was supposed to build, the grounds are not kept, fields are so unkept that people use them as a parking lot, the lake is green, there is a supply shed that has never been removed with junk outside of it everywhere! Then, get this! the association sends out a letter saying we are not even allowed to have potted plants on our own property! There are several condo's in here that do not pay their fees so us others keep getting accessed higher and higher, not sure what is going to happen in here, only way to buy one is cash, we paid 132,000 and could not even sell it for 70,000 because the bank will not loan a penny on them!!!

This is what the feeling I got when I drove around. You actually confirmed it. Thank you for your input!
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