The Villages, FL0262.deltagroup.com/shared/fs/0262/026200007/Complete...Complete Buying Guide for...

Complete Buying Complete Buying Guide for Guide for The VillagesThe Villages

The Villages, FLThe Villages, FL

Melissa Cate-Franks, Broker Associate

ERA Tom Grizzard, Inc.

(352) 536-0977

HistoryHistoryHarold Schwartz, a Michigan businessman, began selling land tracts via mail order in The Villages area in the 1960's. Unfortunately for Schwartz and his business partner Al Tarrson, a Congressional law in 1968 banned mail order sales of real estate.Stuck with considerable portions of Florida land, in the early 1970's Schwartz and Tarrson began development of a mobile home park, Orange Blossom Gardens, in the northwestern corner of Lake County. By the early 1980's, though, the community had sold only 400 units. In an attempt to improve the business, Schwartz decided to buy out Tarrson's interest and bring his son, H. Gary Morse, on board in 1983.Morse noted that the successful retirement communities (such as Del Webb's Sun Citydevelopments) offered considerable numbers of well-maintained amenities to the residents and were also surrounded by diverse amounts of nearby commercial development. Thus, Morse began to significantly upgrade the development, which worked out well – the mid-1980's saw improvement in sales, and Schwartz then began to buy large tracts of land in nearby Sumter and Marion counties for future expansion.Morse officially changed the overall development name to The Villages in 1992. The development is still controlled in all major aspects by descendants of Schwartz and Morse (as an example, Jennifer Parr, Director of Sales and the spokesperson on the sales video sent out to prospective buyers, is Schwartz's granddaughter).


Areas in The VillagesAreas in The VillagesHistoric Section/Orange Blossom GardensHistoric Section/Orange Blossom Gardens--No BondNo Bond--Close to Spanish SpringsClose to Spanish Springs--Close to Shopping & Restaurants on HWY 441Close to Shopping & Restaurants on HWY 441--Mostly Manufactured HomesMostly Manufactured Homes--Homes are usually built from 1974Homes are usually built from 1974--19901990

Spanish Springs/Lake CountySpanish Springs/Lake County--No BondNo Bond--Close to Spanish Springs & Lake Sumter LandingClose to Spanish Springs & Lake Sumter Landing--Close to Polo Field and Savannah CenterClose to Polo Field and Savannah Center--Close to Shopping & Restaurants on HWY 441Close to Shopping & Restaurants on HWY 441--Homes are usually built from 1990Homes are usually built from 1990--20012001

North of 466/Sumter CountyNorth of 466/Sumter County--Lower Bond BalancesLower Bond Balances--Close to Spanish Springs & Lake Sumter LandingClose to Spanish Springs & Lake Sumter Landing--Close to Polo Field and Savannah CenterClose to Polo Field and Savannah Center--Close to Shopping & Restaurants on HWY 441 & CR 466Close to Shopping & Restaurants on HWY 441 & CR 466--Homes are usually built from 1990Homes are usually built from 1990--20042004


Areas in The VillagesAreas in The VillagesMarion CountyMarion County--Lower Bond BalancesLower Bond Balances--Further distance to Spanish Springs & Lake Sumter LandingFurther distance to Spanish Springs & Lake Sumter Landing--Close to Shopping on HWY 42Close to Shopping on HWY 42--Close to New VA ClinicClose to New VA Clinic--Homes usually built from 2001Homes usually built from 2001--20062006

South of 466/ Sumter CountySouth of 466/ Sumter County--Larger Bond Balances Larger Bond Balances --Close to Shopping & Restaurants on 466Close to Shopping & Restaurants on 466--Close to Lake Sumter LandingClose to Lake Sumter Landing--Homes are usually built from 2004 Homes are usually built from 2004 -- presentpresent


The Villages is the only place in the The Villages is the only place in the world where you can play golf free world where you can play golf free for the rest of your life on all of the for the rest of your life on all of the 28 Executive Courses.28 Executive Courses.

As a resident, youAs a resident, you’’ll also receive free ll also receive free lifetime membership to all lifetime membership to all 9 Country Clubs9 Country Clubs..

Golf


Recreation CentersRecreation CentersRegional Recreational CentersRegional Recreational Centers

Fitness centersPottery facilitiesMeeting roomsVenues with stagesSports poolsBocceShuffleboardTennisPickle ballBasketball

Village Recreation CentersVillage Recreation CentersBilliard roomsMeeting rooms for clubs ActivitiesFully equipped kitchenFamily poolsHorseshoe pitsBocceShuffleboard courtsTennisPickle ball

Neighborhood Recreation CentersNeighborhood Recreation CentersAdult PoolsBocceHorseshoes Shuffleboard Courts


EntertainmentEntertainmentSpanish Springs Town SquareSpanish Springs Town Square

ShoppingShoppingRestaurantsRestaurantsMovie TheaterMovie TheaterBowlingBowlingEventsEvents

Lake Sumter LandingLake Sumter LandingShoppingShoppingRestaurantsRestaurantsMovie TheaterMovie TheaterEventsEvents


Clubs & GroupsClubs & GroupsArt GroupArt GroupAstronomy GroupAstronomy GroupClowning GroupClowning GroupBird watchingBird watchingCollecting GroupCollecting GroupExploring GroupExploring GroupFishing GroupFishing GroupGenealogy GroupGenealogy GroupLanguage GroupLanguage GroupPhotography GroupPhotography GroupModels GroupModels GroupScuba Diving GroupScuba Diving GroupCanoeing GroupCanoeing GroupGolf car drill teamGolf car drill team

Neighborhood clubsCheerleading clubsBig 10 Alumni ClubBrits Tea Gardening clubs

Lunch clubsSingles clubsNationality clubs, Red Hat ChapterState Clubs


Average Sales PriceAverage Sales PriceThe Villages Average Sales Price

(Statistics compiled with data from the Realtor Association of Lake & Sumter Multiply Listing Service)

$211,407

$226,430

$195,491$184,438

$195,917

$150,000$160,000$170,000$180,000$190,000$200,000$210,000$220,000$230,000$240,000

2006 2007 2008 2009 2010


Average Days on the MarketAverage Days on the Market The Villages Average Days on Market

(Statistics compiled w ith data from the Realtor Association of Lake & Sumter Multiply Listing Service)

95119

146 142135

0255075

100125150175

2006 2007 2008 2009 2010


# of Homes Sold# of Homes SoldThe Villages # of Homes Sold

(Statistics compiled w ith data from the Realtor Association of Lake & Sumter Multiply Listing Service)

229298

375 425

548(this is annualized from a YTD

figure of 274)

0

100

200

300

400

500

600

2006 2007 2008 2009 2010


Bond AssessmentBond AssessmentCreated to fund the infrastructure during developmentCreated to fund the infrastructure during developmentDivided by # of parcels in that particular VillageDivided by # of parcels in that particular VillagePaid to the Community Development DistrictPaid to the Community Development DistrictAnnual payment including interest shows up as part of your tax bAnnual payment including interest shows up as part of your tax bill (nonill (non--ad valorem)ad valorem)Can be paid off by July for that year or at time of closingCan be paid off by July for that year or at time of closingAmount owed should be disclosed at time of purchaseAmount owed should be disclosed at time of purchase


Maintenance FeeMaintenance Fee Used for the up keep of the infrastructureUsed for the up keep of the infrastructureAnnual feeAnnual feeWill continue and can not be paid offWill continue and can not be paid offShows up as part of your tax bill (nonShows up as part of your tax bill (non--ad valorem)ad valorem)


Amenity FeeAmenity Fee Currently $135 a monthCurrently $135 a monthPaid MonthlyPaid MonthlyWill continueWill continueFor recreation and sports facilities such as swimming pools, golFor recreation and sports facilities such as swimming pools, golf, recreation centers etc.f, recreation centers etc.


Becoming a VillagerBecoming a Villager1.1. Buy a PreBuy a Pre--owned Home from a Realtorowned Home from a Realtor2.2. Buy a New Home from the Developer Buy a New Home from the Developer (the developer(the developer’’s sales s sales

representative are not Realtors and represent the seller exclusirepresentative are not Realtors and represent the seller exclusively)vely)

3.3. Buy a PreBuy a Pre--owned Home from the Developer (owned Home from the Developer (the developerthe developer’’s sales s sales representative are not Realtors and represent the seller exclusirepresentative are not Realtors and represent the seller exclusively)vely)


New vs. PreNew vs. Pre--Owned (Owned (ranges based on a Designer Home)ranges based on a Designer Home)

NewNew PrePre--OwnedOwnedBond BalanceBond Balance $20,000 + $20,000 + Ranges from Ranges from 0 (no bond)0 (no bond)--

$20,000$20,000

Maintenance FeeMaintenance Fee $1000 +$1000 + Ranges from Ranges from 0 (no maint.)0 (no maint.)--$1000$1000

Doc StampsDoc Stamps Paid by BuyerPaid by Buyer Paid by SellerPaid by Seller

Title InsuranceTitle Insurance Paid by BuyerPaid by Buyer Paid by SellerPaid by Seller

List PriceList Price NonNon--NegotiableNegotiable NegotiableNegotiable


Your Next StepsYour Next Steps……Find your RealtorFind your RealtorGet preGet pre--approved (if financing)approved (if financing)Search available inventorySearch available inventorySubmit an offer in writing (your Realtor will do this for you)Submit an offer in writing (your Realtor will do this for you)Let your Realtor help you negotiate the offerLet your Realtor help you negotiate the offerSubmit Contract to LenderSubmit Contract to LenderSubmit all needed information to Lender in a timely mannerSubmit all needed information to Lender in a timely mannerHome InspectionsHome InspectionsTermite InspectionTermite InspectionSubmit Repairs NeededSubmit Repairs NeededHome Owners InsuranceHome Owners InsuranceTurn on UtilitiesTurn on UtilitiesGet Cashiers Check for ClosingGet Cashiers Check for ClosingReceive Keys to Your New Home!!Receive Keys to Your New Home!!


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