Oak Run Reviews (Ocala: real estate, homeowners association, insurance)

[maryannc]

Can someone offer a review on Oak Run community? Seems to have much lower price than other places.

[rjm1cc]

Location is good.

[kmarc]

There's a review in this thread by a poster who moved there back in the spring. He loves it! Mind you, the thread itself is not about Oak Run, but that's where the poster eventually moved.

//www.city-data.com/forum/ocala...own-wtf-5.html

I personally have not lived there, so I can't say, but people who do live there that I've met seem to like it. My only concern about it is that it is a community where you own your home and the land it is on, but instead of paying a HOA fee, you're paying a developer fee, which means the developer owns the roads, amenities and common areas. There is a HOA, but it is strictly a social thing, not a legal thing.

I will say that Oak Run's fees seem to be quite reasonable, however, that is subject to change, especially if the developer sells their interest in the community, so it is something to be aware of.

And as rjm says, the location is good.

[maryannc]

Is the development fee a CDD? I know for sure I won’t buy into another CDD community.

[kmarc]

Originally Posted by maryannc

Is the development fee a CDD? I know for sure I won’t buy into another CDD community.

No, it's not a developMENT fee, it's a developER fee. It's also called an amenity fee. That's because DECCA, the developer of Oak Run, retains an interest in the community in terms of the roads, common areas and amenities. And sets the fees, unlike a community that is run by a Homeowners Association, where the original developer turned the community over to the homeowners and withdrew, meaning they are not involved with the community anymore. A developer fee or amenity fee is similar to a HOA fee in that it is a monthly fee paid for the use of the common areas, roads and amenities, but that's where the similarity ends. With an HOA fee, you're paying it to your fellow homeowners and any raises in the fees have to be approved by a board of homeowners, who try to keep the fees down.

With a developer fee, you're paying the developer, who can raise the rates at whim without approval of a residents' board.

The best thing I can tell you is that if you are thinking of buying in a 55+ community in the Ocala area, you should consult a good real estate attorney who can explain the different legal structures that exist in the various communities. A real estate agent can give you an overview, but they can't give you legal advice.

Like I said, the developer at Oak Run seems to charge very reasonable fees for what they offer, but that can change. There are a few 55+ communities where the developer retains control. One of them, whose name I won't mention, has very nice homes, but lower prices on those homes because the developer fees are higher.

[RamenAddict]

I have a friend who moved there and she absolutely loves it. She has a background in real estate law and I think she looked closely at which community had the best balance in terms of what you pay in terms of fees and the purchase price in terms of the developer-run communities. I think she had previously lived in a developer run community and had a lot of problems before she left. It always seems like she is involved in a ton of activities in the community and she met a lot of people right after she moved in. I think she is happy she chose that community instead of the other, more well known ones.

[kmarc]

Originally Posted by RamenAddict

I have a friend who moved there and she absolutely loves it. She has a background in real estate law and I think she looked closely at which community had the best balance in terms of what you pay in terms of fees and the purchase price in terms of the developer-run communities. I think she had previously lived in a developer run community and had a lot of problems before she left. It always seems like she is involved in a ton of activities in the community and she met a lot of people right after she moved in. I think she is happy she chose that community instead of the other, more well known ones.

I think you hit the nail on the head when you used the term "developer-run communities" as opposed to resident-run communities, which are under a homeowners association and managed by the residents, usually with the assistance of a management company.

Oak Run is developer-run and they seem to do a nice, economical job, as opposed to some other developer run communities. However, since I don't live there, I would have no idea if the residents get hit with special assessments (probably) on top of monthly fees and if those assessments are reasonable or burdensome.

[kmarc]

It all hinges on the developer. Are they stable and do they do their best to keep the fees and assessments down? In some ways, it's a lot less work and worry for the residents. There's no HOA board to contend with and the developer takes care of the amenities, common area repairs and services, so there's no need for a management company since they do all the managing. There's also less opportunity for residents to get into conflicts with each other over the board and with how things are being run.

However, it depends on the developer. If the developer uses the community as a personal piggy bank, that can be a problem and residents can find themselves on the hook for higher fees and assessments. I haven't heard of that happening at Oak Run, but I have heard of it happening in other communities.

The bottom line is, you're at the mercy of the developer one way or another.

[beatkay]

I've visited folks who live in Oak Run and actually looked at a few houses in there when I was looking to buy. It's a much more affordable option than OTOW, with a similar offering of amenities (but of course, not the volume of amentities). The older houses tend to be smaller and wood-framed, often with vinyl siding. The newer areas of all CB construction.

The monthly fees vary in what they cover and cost. The older, smaller houses I was most interested in covered, I think, garbage and water, and they were running about $130 a month from what I remember.

It depends on your needs/wants and what your wallet can afford. Unfortunately, I know folks in OTOW who are over their heads because the high HOA fee there never goes away. Even if you can afford to pay cash for the villa/house, there's still taxes and insurance, and with the HOA fee, it costs $20 a day just to wake up in that place. Again, great if you can afford it, but hard rowing if you can't.


I think Oak Run is the best *value* for the 55+ n'hoods around here.

[kmarc]

Originally Posted by beatkay

I've visited folks who live in Oak Run and actually looked at a few houses in there when I was looking to buy. It's a much more affordable option than OTOW, with a similar offering of amenities (but of course, not the volume of amentities). The older houses tend to be smaller and wood-framed, often with vinyl siding. The newer areas of all CB construction.

The monthly fees vary in what they cover and cost. The older, smaller houses I was most interested in covered, I think, garbage and water, and they were running about $130 a month from what I remember.

It depends on your needs/wants and what your wallet can afford. Unfortunately, I know folks in OTOW who are over their heads because the high HOA fee there never goes away. Even if you can afford to pay cash for the villa/house, there's still taxes and insurance, and with the HOA fee, it costs $20 a day just to wake up in that place. Again, great if you can afford it, but hard rowing if you can't.


I think Oak Run is the best *value* for the 55+ n'hoods around here.

I agree. That's the issue with OTOW, the ongoing expense that there's little or no control over. As you said, great if you can afford it.

Economic times are very uncertain right now. Some people who depend on pensions may be in for a rude shock, even in the very near future.