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Old 05-10-2010, 12:00 PM
 
192 posts, read 481,093 times
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I've been poking around The Isles in Palmer Ranch and found that they have a 10% foreclosure rate. That sounds kind of high to me. Any thoughts on that and should that be a red flag?
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Old 05-11-2010, 07:13 PM
 
88 posts, read 320,146 times
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i don't know that 10% is THAT bad for this market and that is a newer community so the owners might have bought high and now the values are low and they got out or couldn't afford their mortgages. More important is to make sure the neighborhood is where you want to be and if there are renters, see if it's sketchville. Historically, DiVosta communities have held their value fairly well and they are nice communities.
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Old 05-11-2010, 08:25 PM
 
192 posts, read 481,093 times
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Thanks for the reply!

Yeah, much of The Isles was built during the "boom" years, so that does explain why. I just don't know how that affects HOA fees and such.

What do you mean by "sketchville"?
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Old 05-11-2010, 08:41 PM
 
440 posts, read 1,006,547 times
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Have you actually visited the Isles? When I looked at it in March'09 it was about 55% built. It is a new community - they said that they were slowing down construction and only completing homes they had deposits on. There were mounds of dirt everywhere. Most of the natural vegetation was gone. The units I looked at were similar to the Village Walk Capri but improved layout. It might look better now but I didn't want to look out my windows to piles of dirt and immature plantings
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Old 05-11-2010, 08:43 PM
 
Location: Cheektowaga, NY. Overtaxed to extreme
473 posts, read 1,118,708 times
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I'm not sure I like the Divosta community too much. I think there is too much similarity amongst all the property. This to me is a cookie cutter community.
Just me though and I do like Palmer Ranch and think Lakewood Ranch is stunningly beautiful and I kind of chuckle when I hear people refer to that as cookie cutter.
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