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Old 07-14-2018, 10:40 AM
 
712 posts, read 425,991 times
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I have a few realtor friends here in NE Florida. More acquaintances really. At a dinner party the other night, they were discussing CDDs. More and more buyers are rejecting homes with large CDD Bonds, in some cases doubling their annual RE Taxes. They specifically ask their agents not to be shown areas with CDDs.

Apparently recently buyers have been asking the sellers to pay off the CDD bond prior to them purchasing and writing it into the contract, if they find one they like in a CDD area. They indicated that in todays market where so many homes are for sale and due to new builds being so prolific right now, especially here in NE Fla., that in any given development, owners selling their homes after 2 - 5 years are agreeing to it. They said since the beginning of 2018 probably between 30 and 60% of these situations have been successful.

Apparently this is more apparent with local buyers upgrading or downsizing. Those moving from up North are less knowledgeable, and based on the high taxes up North are less likely to query CDDs. It is a shame really because they (Agents) much prefer folks from out of state as they are for the most part naïve about the local markets, and rely heavily on their agents. While the RE agents are not necessarily unethical in any way, they do indicate they answer questions as honestly as possible but rarely offer any sage advice unless prompted by a knowledgeable client. So as with anything else it is buyer beware.
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Old 07-16-2018, 11:13 AM
 
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30 to 60% of sellers agree to pay off the bond portion of the CDD? That just isn't likely, or....really...possible as any house less than 10 years old likely has tens of thousands of dollars left on the bond portion of the CDD. It's not that much of a buyer's market here. Yes there are new developments going up and existing resales; however, that is being fueled by high demand and new residents moving to the area.

We have several local realtors here on City Data who can chime in here.
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