pga verano

[JimT7406]

Looked on the PA website at a few homes in Verano that are several years old with assessed values around 300k. With the 50k homestead exemption here are some general numbers.

Taxes approximately $6,500
CDD $1,450 to as high as $1,700 that I saw for some properties
Assessments $ 400 for stormwater and garbage that is incorporated in the tax bill
Tax Estimate $8,000 to $9,000 per year

Plus
Home insurance likely between $1,000 and $1,500 a year based on deductibles.
Floor insurance likely between $200-500 a year.
$415 per month HOA fees.
Plus add in another 15k-20k incorporated into the base purchase price for new construction for city/county impact fees (Taxes).

New construction is an expensive proposition.

[FlaLadyB]

impact fees are always included in the purchase of a new house. Its expensive putting in all the utilities, water lines, gas lines, roads, permits, sidewalks, etc.etc. and the city/county wants their money.

[JimT7406]

The majority of impact fees are not for utilities, roads etc. The majority goes to things like schools, public buildings and parks. School impact fees at $6,188 are the highest line item.
My point is that impact fees, high property taxes, CDD assessments and HOA fees are all stunting new home construction. Places like Verano and Town Park have been trying to build out for nearly 10 years. Affordability is the issue and is IMO the main reason why new construction can not get going here. New home construction is on fire to the south and could be if the numbers here were more reasonable.The OP asking about things like CDD speak to buyers cocnerns with the total number.
By the way, I looked at impact fees in several cities in Palm Beach County and their total number were all under $10k. Should PSL impact fees really be double cities to the south or should it be the other way around?

[VERANO22]

Originally Posted by JimT7406

Not sure what you are looking for so you may want to be more specific

First homes closed in 2006/07
Seemed to build the community to target the higher end of the market that was roaring at that time. They really started going as the market took a nosedive and they seem to have been struggling ever since find a way to build it out.
Beautiful community, ground and clubhouse that comes with a HOA over $400 a month. now = $490

Eight years after starting and not built out, I would ask questions till I was satisfied as to why it has taken so long.

Update 5/2021

We went to tour the place in March 2021 and the city had imposed a building limit per month to catch up on the high volume of sales from Jan through its peak on April 5th with 57 units sold per month prior to the cut off.

We got on a wait list with a $5K check and was called early June 2021 to pick a lot from just 4 lots releases by city permits .

The other slow down was the fear of building materials , mostly lumber costs that had skyrocketed due to increased sales demand . Yet was later found to be by greedy investors buying up lumber assuming it was running out.

The 225% Lumber increase lasted about 60 days until builders caught wind of this scheme. They may have taken time off from selling to allow the city permit process to catch up.

As a result , lumber prices went down by 50% from historic highs and sales are starting to come back but not at record levels .

There is a large demand of 55+ buyers who are looking to sell their homes and move south to get more home for less money up north . New Home sales will continue to be strong for the next 24 months according to WSJ

[VERANO22]

02-06-2015, 11:55 PM
FlaLadyB Real Estate Agent
Realtor over 25 years on Floridas Treasure Coast
befriend

Join Date: Nov 2007
Location: Port St. Lucie, Florida
4,507 posts, read 8,177,603 times
Reputation: 1975


the CDD in Verano - according to the tax records is $1,480.00 a year -paid in your taxes

[huitrecouture]

Originally Posted by VERANO22

Update 5/2021

We went to tour the place in March 2021 and the city had imposed a building limit per month to catch up on the high volume of sales from Jan through its peak on April 5th with 57 units sold per month prior to the cut off.

We got on a wait list with a $5K check and was called early June 2021 to pick a lot from just 4 lots releases by city permits .

The other slow down was the fear of building materials , mostly lumber costs that had skyrocketed due to increased sales demand . Yet was later found to be by greedy investors buying up lumber assuming it was running out.

The 225% Lumber increase lasted about 60 days until builders caught wind of this scheme. They may have taken time off from selling to allow the city permit process to catch up.

As a result , lumber prices went down by 50% from historic highs and sales are starting to come back but not at record levels .

There is a large demand of 55+ buyers who are looking to sell their homes and move south to get more home for less money up north . New Home sales will continue to be strong for the next 24 months according to WSJ

You're responding to a post from 2015, having nothing to do with 2021.

Demand of buyers moving from up North? Ya THINK?

[huitrecouture]

Originally Posted by VERANO22

02-06-2015, 11:55 PM
FlaLadyB Real Estate Agent
Realtor over 25 years on Floridas Treasure Coast
befriend

Join Date: Nov 2007
Location: Port St. Lucie, Florida
4,507 posts, read 8,177,603 times
Reputation: 1975


the CDD in Verano - according to the tax records is $1,480.00 a year -paid in your taxes

Why are you posting this? Everyone who's been here awhile knows her. Realtors are permitted on CD, ya know.