PGA National seems like tough to sell ? (Palm Beach Gardens, Palm Beach: rental, HOA)

[raaizin]

Considering a 2nd home in Palm Beach Gardens. Spent some time at a rental at PGA national and area seemed nice. We saw some online listings for 2 bedroom with garage fully detached with HOA of about 350 for about 300k which seems reasonable. When I look at Zillow , quite a few are on the market for quite some time with big reductions in price as much as 25-30% off original asking prices. Up north that only happened right after the financial crisis of 2008. Is this only at PGA if so why? Or is this Florida in general. I am not looking to make money but really dont want to get stuck with a property some years down the road.

[City Guy997S]

Originally Posted by raaizin

Considering a 2nd home in Palm Beach Gardens. Spent some time at a rental at PGA national and area seemed nice. We saw some online listings for 2 bedroom with garage fully detached with HOA of about 350 for about 300k which seems reasonable. When I look at Zillow , quite a few are on the market for quite some time with big reductions in price as much as 25-30% off original asking prices. Up north that only happened right after the financial crisis of 2008. Is this only at PGA if so why? Or is this Florida in general. I am not looking to make money but really dont want to get stuck with a property some years down the road.

PGA chokes for a few reasons:

1. Wood frame construction and lots of it. Not good for insurance rates/mold/insects
2. Not gated, they have gates but the property is full of public streets. All of the surrounding communities are real gated communities (Eastpointe, Mirasol, Ballenisles, Old Palm/Old Marsh).
3. Golf courses are open to anyone. Other communities only allow members to play, PGA is a free for all.

Flip side:

Some of the communities mentioned above choke because the fees are too high (hoa/ forced membership).

[skylinet]

Huge price reductions in pga usually means they started grossly overpriced.
A lot of people trying to sell dated homes for remodeled values.
Membership is reasonable in comparison to a lot of the surrounding clubs but as mentioned some of the homes are wood frame and very dated.

[PR101]

Originally Posted by City Guy997S

PGA chokes for a few reasons:

1. Wood frame construction and lots of it. Not good for insurance rates/mold/insects
2. Not gated, they have gates but the property is full of public streets. All of the surrounding communities are real gated communities (Eastpointe, Mirasol, Ballenisles, Old Palm/Old Marsh).
3. Golf courses are open to anyone. Other communities only allow members to play, PGA is a free for all.

Flip side:

Some of the communities mentioned above choke because the fees are too high (hoa/ forced membership).

In PGA National the road that runs through there is a public street, like they have to let you in and stuff, but they try to enforce rules on it? I've seen their cars patrolling when I've tried to fish there, how can they stop you from parking on the bank and fishing and stuff if it is a public road?

[City Guy997S]

Originally Posted by PR101

In PGA National the road that runs through there is a public street, like they have to let you in and stuff, but they try to enforce rules on it? I've seen their cars patrolling when I've tried to fish there, how can they stop you from parking on the bank and fishing and stuff if it is a public road?

I'd guess the "parking on the bank" means you are on private property which means you are standing on private property while fishing also.

Roads are public in 90% of that place, there are a few gated neighborhoods. There is talk of widening Jog to 4 lanes right through the middle of the place. That would ruffle some feathers for sure but Jog Rd is 4 lanes+ from PGA National all the way to Boca..... except for the part that runs through PGA

[PR101]

Originally Posted by City Guy997S

I'd guess the "parking on the bank" means you are on private property which means you are standing on private property while fishing also.

Roads are public in 90% of that place, there are a few gated neighborhoods. There is talk of widening Jog to 4 lanes right through the middle of the place. That would ruffle some feathers for sure but Jog Rd is 4 lanes+ from PGA National all the way to Boca..... except for the part that runs through PGA

Isn’t there an easement though? Like it’s the road plus like ten feet on each side right?

[City Guy997S]

Originally Posted by PR101

Isn’t there an easement though? Like it’s the road plus like ten feet on each side right?

Anytime someone is cutting the grass, watering it then they will feel like it is theirs whether it is a neighbor or an HOA. Guards want to be cops so they will break your stones and if you resist then they will call in the black and white brotherhood.

I agree with you but look at the big picture, they aren't trying to keep Roland Martin out of their proverbial back yards!

[Mattr82]

I think some value does exist in PGA if you're an avid golfer and not willing to pay the very high premiums of living in the high end golf communities in the area. Wood frame construction makes termites a very real concern considering most modern homes are CBS construction. You also have a broad range of properties from townhouses and villas all the way up to mini mansions. The community looks and feels dated but could be a decent value if you must have golf on site.