Home Buying in 34747>Question Details

John, Home Buyer in spain

lookng to buy a property iaround the mystic dunes area, can anyone advise on problems with this area

Asked by John, spain Thu Aug 21, 2008

have been loking around at property and like the look of the mystic dunes area, prices seem good , whats it like for rentals and is there an hoa for this entire area, as i know mystic dunes is time share

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4
Hi John,

Yes, Mystic Dunes is a vacation ownership/time-share opportunity. Westgate Vacation Villas is another in this area.

There is no HOA (homeowners' association fee) for this entire area. With time-shares you would have an annual ("maintenance") fee. In most residential communities here you will encounter the HOA fee. The amount can vary greatly from community to community. HOA fees are often charged on a quarterly basis; however, it is not uncommon to see the amount quoted as a monthly or yearly rate.

Personally I do not see problems with this area, rather, from an ownership perspective it is rather desirable due to the high rental potential. Old Lake Wilson Road offers the closest residential communities to Disney which is approved for short term (nightly) rental. I think most would agree that Windsor Hills is the most popular community of this type in that area. They offer resort style amenities. Buyers can choose a condo, townhome, or single family pool home. New construction opportunities currently exist with the single family homes. The condos and townhomes are re-sales only. As of today, condo listings start from $169,900 and townhomes from $224,900. Homes have been selling +/- $400s. The monthly breakout of HOA fees is approximately $425 for the condos, $330 for the townhomes, and $350 for the single family homes. You are actually paying two associations - the Master Community Association plus the Condo, Townhome, or Homeowners Association depending on what type of property one owns.

I'd be happy to discuss these opportunities with you further and can be contacted directly through my Trulia profile.

I have more info. on the Windsor Hills homes at the web link below.

Brent Ferry
International Drive Realty Orlando
0 votes Thank Flag Link Thu Aug 21, 2008
John,
Investing is a "time share" at this time would not be taking advantage of the current market conditions. If renting your property is important and your possession of a time share would be only one week during the entire year......this would not be considered a good rental opportunity.

Since prices are down, this might be the time to consider purchasing a home/condo that would give you rental income for the entire year.

Please let us know if there is any thing we can do to support your interests.

Good luck,
The "Eckler Team"
Michael Saunders & Company
billeckler@michaelsaunders.com
941-408-5363
0 votes Thank Flag Link Thu Aug 21, 2008
Hi
Mystic Dunes Resort & Golf Club is time share and its not in MLS. If its time share your looking for, does that mean you want to buy someplace for one week of the year? Or do you want to buy a single family home and rent it short term?
The answer makes a big differance.
Let me know
PAUL ANTONELLI
0 votes Thank Flag Link Thu Aug 21, 2008
Hi
Mystic Dunes Resort & Golf Club is time share and its not in MLS. If its time share your looking for, does that mean you want to buy someplace for one week of the year? Or do you want to buy a single family home and rent it short term?
The answer makes a big differance.
Let me know
PAUL ANTONELLI
0 votes Thank Flag Link Thu Aug 21, 2008
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