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Old 05-16-2012, 11:27 AM
 
73 posts, read 130,208 times
Reputation: 43

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Quote:
Originally Posted by gulfer View Post
Ashton Oaks and Ashley Pines in Wesley Chapel are a couple that come to mind. There are areas scattered on HWY54 in Northern Wesley Chapel close to Saddlebrook that may meet what you are looking for.
Sounds like 150K is firm. I definately respect that.

PLEASE WATCH YOUR HOA, CDD and TAXES.
I hesitate to even do this because it always seems to come out wrong. Either I look pushy or I look like a know it all. NEITHER ARE GOOD! Feel free to simply disregard ...

Here is my example - and is just an example (but you will see very similar scenario's here):
2 homes - Home 1 is 3 bedroom, 2.5 bathrooms, 1900 square feet, community pool, nice subdivision.
Home 2 is a 5 bedroom, 3.5 bath, 2600 square feet, community pool, nice subdivision
Homes are within 1 mile of each other.

House 1:
Price is 150K @ 4% interest rate - Monthly Payment for Mortage alone is 716 per month.
Taxes 2000 per year, insurance 1500 per year, HOA 110 per month, CDD 130 per month.
Total cost 1328 per month.

House 2:
Price is 200K @ 4% interest rate - Monthly Payment for Mortgage alone is 954 per month.
Taxes 2000 per year, insurance 1500 per year, HOA is 40 per month and NO CDD.
Total cost 1366 per month.

Good luck with your search. I love this area!!!! And hope you do as well.

Hello:
How did you come up with that # for the $2000 per year, I mean, how much is that a month? do people have the choice of paying quartely, annually?(in case you buy cash),how did you divide the $2000 annually to come up with the exact montly sum, same for insurance. I would like to know the monthly figure do you divide it by 12 months or 52 weeks? how do you do it?

Thank you
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Old 05-16-2012, 11:50 AM
 
188 posts, read 286,604 times
Reputation: 64
Another question just popped in to my head about this area.... do you evacuate for hurricanes or are you far enough inland to not have to?
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Old 05-16-2012, 01:47 PM
 
64 posts, read 98,479 times
Reputation: 68
I lived in the center of the state a few years ago and we were completely wiped out by three hurricanes in 2004. A LOT of people lost their homes. This was one of the rare times Disney closed their doors.

There really is no such thing as "far enough inland" in Florida.
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Old 05-16-2012, 06:01 PM
 
Location: Toledo, OH
1,725 posts, read 3,130,390 times
Reputation: 1275
Ami1331 - The numbers I used were strictly to make a point regarding home value. Most mortgage companies will require you to pay your taxes, insurance, principal and interest all in one payment normally at the first of the month. How about this scenario instead:

You can find a house for 150,000 and have a payment of X. Then you look at your bill and find out you pay 150.00 a month for HOA, 225.00 a month for CDD and over 4,000 per year in taxes. Now that 150,000 home costs you more per month that a home that is 225,000 in an area where taxes and HOA are much lower and thier is no CDD. If you look out for those fees/taxes from the very beginning of the home search your money can go much further. Or better yet, stick with that 150,000 figure and have a payment that is 400.00 per month or more cheaper!!

Hope this helps and very sorry for the confusion. I just hate seeing people that are buying houses have surprises.
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Old 05-16-2012, 06:47 PM
 
188 posts, read 286,604 times
Reputation: 64
Quote:
Originally Posted by anya3 View Post
I lived in the center of the state a few years ago and we were completely wiped out by three hurricanes in 2004. A LOT of people lost their homes. This was one of the rare times Disney closed their doors.

There really is no such thing as "far enough inland" in Florida.
Yikes!
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Old 05-17-2012, 09:56 AM
 
Location: East Tennessee
3,927 posts, read 10,648,558 times
Reputation: 5235
I believe the USDA loan is one of the best for those who can qualify. They just updated their eligibility website earlier this month. Unfortunately, you will need to look at the listed properties and then plug in the address in the USDA website to see if the house qualifies. Basically, the house will be located in a non-developed, rural area. Here's a link to the re-designed website --> Welcome

As for locations, I just helped a young couple who decided to buy in Tierra del Sol. They bought a 3/2.5/2 with bonus room in 2300+sf for $132,900. We also looked at houses in Asbel Creek/Estates. Both these communities are very near US41 (aka Land O Lakes Blvd) and inbetween CR 54 and CR 52. They are newer subdivisions with no CDD. But along with the lack of CDD comes no community amenities.

Communities such as Wilderness Lakes and Connerton do have a CDD, but you get a clubhouse and pool. If I were looking to buy in Pasco and finance with USDA, I'd be more inclined to try and get into Ballantrae or Concord Station. The schools are newer and they have ranked well historically. That said, given recent reports, I'm not sure there are any high ranking schools in Florida.

I don't understand why your agent is steering you away from short sales unless you have a specific timeline to close. Most of the larger banks to include Fannie/Freddie now have a streamlined process and can be approved in 60 days. Short sales can be extremely difficult and frustrating but the end result is usually a bargain for the buyer.

anya3, I remember the 2004 hurricane train. I was in south Hillsborough County showing houses to a couple relocating from Illinois. We went to a David Weekley model in Panther Trace and there was a sign on the door that said, "Closed for Charley." We high-tailed it out of there and were stuck in traffic for a long time. They were staying in Orlando and I-4 was a mess. People were on the highway and I have no clue where they intended to go. I often times tell Relos that since Florida is 150 miles across at its widest point and hurricanes often exceed 300 miles across, it's not a matter of getting hit by a hurricane, it's a matter of how bad it will be.

Last edited by TampaKaren; 05-17-2012 at 10:12 AM..
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Old 05-17-2012, 09:59 AM
 
44 posts, read 61,977 times
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Mostly time frame. My husband is flying down in 10 days and we need to close and be moved in by late July.
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Old 12-27-2012, 08:36 PM
 
3,313 posts, read 4,601,818 times
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I would like to ask if anyone have some fresh info regarding house prices for Wesley Chapel - Land O lakes area.
What is the largest category price wise? (up to 150K I assume?)
What is the cash offers? Are they normally under 100K-150K as well?
What is the typical offers for Fannie Mae homes? Above or below listing price if the price is 150K/ 200K/ 250K? (Is it depends on the price of the house - for example 150K houses tend to sell above asking price, and 250K - below...
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Old 12-28-2012, 12:12 AM
 
Location: Toledo, OH
1,725 posts, read 3,130,390 times
Reputation: 1275
There are a few homes for 150K and below scattered over Wesley Chapel and Land O Lakes. Would recommend looking over the entire property with a fine tooth comb. Many homes that were prices at 150K and below have been scooped up by investors. The ones that remain wouldn't give them a great enough return on investment.

Fannie Mae homes for Sale can be found on homepath.com. The nice thing about that website is that it allows a first look period for owner occupied home. This keeps the investors from getting them right away.

No set amount or percentage off the price, each home really is different. Well priced homes will sell for asking price. Unrealistic sellers price will leave it sitting. If someone has to move for a job, has equity in the home, etc... they are generally more willing to move on the price. But if someone doesn't have to sell, they can stand firm on asking price.

Had a home in Wesley Chapel that the seller would not budge on even though the appraisel was going to be at least 20K below the selling price. That was a few months ago. Home is still for sale and will remain until a cash buyer comes along or the price gets lowered. The Bank won't loan money on a home that is priced above market value.

Hope this is what you were looking for.
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Old 12-28-2012, 06:52 AM
 
3,313 posts, read 4,601,818 times
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I am in the active search for few months now and can tell for sure the inventory is low. All "by owner" houses are overpriced. For each Fannie Mae property there are multiple offers on the table. I just made an offer for one of their property in WC, but "first look" will be for another week or so. My offer is lower than asking price simply beacuse house have been vacant for at least 3 years, and it's not a good thing since we are in FL. According to my estimates that house needs at least $20K to make it move in ready. I am sure investors can spend less than $20K to make it look good and move in ready, but I personally wouldn't want to move in in the house investors quickly fixed...
My offer was based on my research. So, let's see what's going to happen.
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