The HOA fees are decided by the association on an annual basis (usually at the end of each year for the following year) based on their maintenance expenses. In the case of "Village at SB", the maintenance fees are fairly comprehensive, including cable and hot water, building exterior maintenance, insurance, landscaping, pool maintenance, and trash removal.
There may be financing programs available to you as a first time homebuyer and you may well be eligible for FHA financing which is a guarantee by the US Government (HUD) that allows you a lower downpayment and other benefits. You should speak to a reputable mortgage broker first who can get you pre-qualified and prepped and ready to go out there and shop! :>
If I can help in any way, I'd be delighted to. I can send you info on what's currently available in your price range. Feel free to contact me. I highly recommend that you use the services of a Realtor - it doesn't cost you anything as a Buyer (we're paid by the Seller when the deal closes)!
Very best of luck to you!
Villa G Realty, Inc.
Without knowing the community but having access to only the information you have provided our recommendation is to consider investigating why there appears to be such a large number of "foreclosures" in the community. Could this be an indication of some much larger issue?
In addition to the questions mentioned, it may be beneficial to know the total number of units, the number of units unoccupied and for sale currently and have access to the associations annual budget.
Getting information that provides the "big picture" will hopefull protect your interests and at the same time allow you to find the value you are seeking.