Home Buying in 34747>Question Details

Jimmyt, Home Buyer in 34747

Reunion, Prices are still tumbling,how safe of a bet is it?. I keep looking at Reunion and i am getting sucked in to Buy there,The low prices of the

Asked by Jimmyt, 34747 Fri Jan 8, 2010

homes .along Excitement drive are quite tempting I am thinking along the lines that it will straighten its self out over the next 3 Years? . what are the the thoughts of the contributing realtors. Please note i have already got a realtor to represent me ,But any gut feelingor advise would be appreciated, Thank you in anticipation. Jim

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6
Centurion Realty Group’s answer
Jimmy,

I would stay away from Reunion. With the high HOA fee's and the poor craftmanship future buyers are going to think twice before they purchase. Combine that with the fact that a timeshare company puchased most of their condo inventory(Wyndham Resorts) your not going to see a bottom in there for a while. If you notice the listings in that community tend to average long days on the market than similar communities. I hope that helped.
1 vote Thank Flag Link Sun Jan 9, 2011
I've been showing quite a few of the 35 foot lot homes on Excitement Drive recently. I am shocked to see that many of the three story rear porches are actually seperating from the homes. There is clearly an engineering disaster here. We are talking about some homes that were Parade of Homes winners just a few short years ago. Yes, you can buy a home here that once cost over a million for just $300,000. However, you may well end up with a 6 digit repair bill as well. This is definitiely buyer beware territory.

While I'm on a roll, the Patriots Landing section of Reunion contains some the poorest workmanship I've ever seen in homes that originally sold for over half a million. I been in more than one bathroom there where the counter was not even close to level. Talk about zero pride in your work.
1 vote Thank Flag Link Sun May 9, 2010
Hello Jimmyt,

If you are still looking. I can also speak to you about Reunion. I sell many homes in Reunion. Times have changes and the rentals are doing very well in many communities.

I specialize in income producing properties in the Disney area. (Central Florida short term rentals,vacation homes,second homes) I have been an investor for 17 years in this area as well as helping others invest in Florida properties. 90% of my sales in the Disney area are international buyers. I am sure I can help you find a very good vacation/income property that you can use at any time you want to use the home.You can call me at any time and we can talk in depth about how the best way for you to purchase a property, what is needed for you to start the process, managers taking care of your property and what they charge, how bookings/guests are placed in the property and the fees involved and what kind of income you will receive in all the different communities in the area. Every community close to Disney has a little different income ability. This is where I come in. You do not want to be to far from Disney. Please contact me and I will answer all your personal questions over the phone. It's best to answer all your questions before we start looking at properties. You can call me at 407-572-3022 or email me at btscarpa@aol.com

Thank you
Bernard Scarpa
American Ideal Homes, LLC servicing all of your Florida Real Estate Needs.
Income producing properties
Disney Florida Vacation Property Investment Specialist
Resort and Second Home Property Specialist
Office Hours are 7 days a week
9:00 Am to 9:00 PM EST
Cell # 407-572-3022
Fax # 407-957-5843

btscarpa@aol.com
0 votes Thank Flag Link Sat Jun 15, 2013
Take a look at the site below. It gives some ideas about what florida could be looking at for price changes in 2010.
http://www.housingpredictor.com/florida.html
0 votes Thank Flag Link Wed May 5, 2010
Hi Jimmy,

The owners in Reunion are currently trying to get the association and management to ease up on restrictions to make it more appealing for renters. Right now many of the owners are having trouble keeping their units rented due to all the restrictions and fees. My suggestion would be to run the numbers here http://theflamingogroup.com/estimated-return/ and if you're willing to pony up 15K for the initiation to the club than go for it. It's a beautiful place to own vacation property but not for the person who needs to make ends meet every month on their investment. Best of luck to you.
0 votes Thank Flag Link Wed May 5, 2010
Hi Jimmy,

I think Reunion will improve over the next 3 - 5 years. I am seeing a lot of buying at the low end. I think prices will drop further this year, there are still some bank owned homes not on the market and likely more foreclosures. I have also heard there is the most new builds right now than at anytime in the past 3 years.

My concern with Reunion is the high running costs, great facilities but if you want to use everything it is going to cost $630 per month (and still pay green fees for golf!).

If you are going to rent your home short term unless you use their in house management your guests are restricted as to what they can use there. If you use their inhouse management they take 50% of the rent! (no monthly charge for that though!).

I think the homeowners need to band together and try to get better pricing on the HOA and golf/ammenity packages and allow their guests unrestricted access to the facilities. This will boost income for short term rentals which should help future prices.

Anthony
Web Reference: http://llsrealty.com
0 votes Thank Flag Link Thu Feb 4, 2010
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