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Scott Peters…, Other/Just Looking in Sarasota, FL

Any advice about the Stoneybrook development in Venice? In particular, I'm concerned about the lack of

Asked by Scott Petersen, Sarasota, FL Sun Apr 27, 2008

development, the number of foreclosures and the rising association fees.

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Scott,

As an update to this earlier question, we are happy to add that there is currently growth and development in Stoneybrook and there is terrific value with new construction. There are currently many new homes under construction with 3/2/2 pool homes attainable in the $250,000 range.

This area is worthy of a look....Lennar is doing something right.

The Eckler Team
1 vote Thank Flag Link Sun Jul 12, 2009
***BE CAREFUL CHEAP DOESN'T MEAN YOU'RE GETTING A GREAT DEAL*** You could have went out and buy yourself a DAWOE for $7,000.00 three years ago right before the exit the US market. Now you would be sitting with a lemon in your driveway. That pretty much sums up what I am about to say regarding purchasing a home from lennar. It's nice that everyone is being polite. I purchased a home in 2006 and the price dropped over 50%. Not to mention all the headaches we had and are still having with the home. Our AC unit had to be replaced 3x Lennar didn't do a thing about it. Our electric had to be redone again we never heard from Lennar and that's just the beginning. Look do your homework that's all I can say. We're going to sell and take a lose. My son and I have been extremely ill and we couldn't figure out what the problem was until now. There is a high possibility it's because of the china dry wall Lennar used in some of their homes. If you're not sure what china dry wall is please do yourself a favor research it. It cause serious lungs issue, nose bleeding, headache, etc.
1 vote Thank Flag Link Sat Jan 31, 2009
Good morning,
Any community that started sales in 2004 is in the same boat. High number of foreclosures. Pros and cons....Pros, if the builder is still selling inventory , you should be able to buy a NEW home at equivalent pricing to the foreclosures with factoring in the cost to bring foreclosure into "like new" condition- the foreclosure could end up being more costly. If the builder still has lots and are only offering "to be built" then buying one of the foreclosures might prove better. Cons: lots of foreclosures in a neighborhood will take a long time to absorb and in the meantime deterioration and transient tenants ( a whole other story) lowers quality of life.

Check very carefully...you can get a list of pending foreclosures as well as bank owned from several sources online.

All in all Lennar does a great job statewide with their Stoneybrook concept. If they are still in control of the the HOA they should provide you with the annual budget. If it has already been turned over to the homeowners, send a letter to the management company and the representative handling the community will provide same.
1 vote Thank Flag Link Sun Apr 27, 2008
Stoneybrook at Venice
Stoneybrook at Venice is a stunning community on River Road in Venice, Florida and close to I-75. Stoneybrook at Venice is perfectly located and accessible to schools, shopping, fine restaurants, libraries, parks and of course, the all-important Florida beaches.
The neighborhood will have 900 homes when complete. Stoneybrook at Venice features a lagoon style pool, a spa and a children’s splash fountain, a complete health club with weight and cardio equipment that is accessible twenty-four hours a day, and even a movie theater and media room. This is designed as a family community with activities for adults and children. Try out the in-line skating and hockey rink, four lighted tennis courts, a nature trail and a butterfly garden. If you are a sports buff, you will love the two sand volleyball courts, basketball courts, baseball diamond and multi-purpose soccer field. The community has a full time activities director, and a catering and function hall for those special events. Stroll the property, hang out near the gazebo or visit with friends and family in the community cookout area, complete with gas grills. This family-friendly community has thirty-five pristine lakes and plenty of green space. Though most home sites are still not complete, there are about 300 families currently living in Stoneybrook and more are moving in every day.
Choose from larger homes, suitable for families, with three or four bedrooms, or smaller two bedroom, two bath homes for singles. Built by Lennar/US Homes of Miami, FL, these homes offer many available options and upgrades to personalize your home. Today, Stoneybrook at Venice home prices are very reasonable and you can get a lot of house for your money.
0 votes Thank Flag Link Sun Oct 17, 2010
Can you please tell me about the finances of the golf course , how is it owned?
0 votes Thank Flag Link Sun Oct 10, 2010
I live in Stoneybrook at Venice so I know the community well. It's not the magic spot for everyone but it is one of the few family-friendly communities in the area with nice amenities. Like every other community in Florida,
Stoneybrook has suffered with the market collapse but it is coming back. Yes, there are numerous unoccupied properties and owners who are not paying their fees, but we're fortunate that Lennar is picking up the difference in fees and we as homeowners are not. There has not been any increase in fees.
New construction continues and new homes are being purchased as are re-sales.
As I understand it, a handful of homeowners have had Chinese drywall problems (out of several hundred homes). My guess is that when this problem reared its ugly head, Lennar was just as surprised as everyone else was and had to get on the learning curve quickly in order to be able to respond to homeowners and this caused a delay in them responding. No excuse now.
Stoneybrook is obviously not for everyone but it is a nice, family-oriented community, minutes to shopping, downtown, beaches, and I75 and it suits alot of homeowners very well.

Theresa Brown
Michael Saunders & Company
Cell: 941-350-5005
theresabrown@michaelsaunders.com
0 votes Thank Flag Link Wed Oct 7, 2009
Many of the homes in Stoneybrook have taxes between $3500-$4500, including the CDD fee. It would be best to take a look at the specific home in question so we could give a more accurate figure.

Roxanne Moore, Realtor
Re/Max Anchor Realty
941-626-3926
twomoores19@comcast.net
0 votes Thank Flag Link Sun Aug 3, 2008
any info available on taxes in stoneybrook?
0 votes Thank Flag Link Sat Jul 26, 2008
hey there, just wanted to weigh in on this... we just purchased a house in stoneybrook, and are saving almost 200k off the original purchase price back in 2005... yes, we have a high fee structure, but it's based ona bond that is issued from the state and has a life of 20 years. our homeowners fees are about 134 a month, and there are cdd fees that in combination together total about 2200 a year

you may look at these numbers and think they are really high, but here's the thing. this neighborhood is right down the road from the best beach in florida, about 3 miles to the highway, has a gaurded gate after 6pm to 6a every night, roaming security 4 nights a week, huge community center, pool, basketball, baseball, rollerblading, bike paths, gym, movie theatre, etc. that is an ubeatable value. also add in, that everyone as far up as tampa is aware of this neighborhood... everyone i talk to knows about it. one thing that we have noticed; we have been watching several houses in this neighborhood for almost a year. in the last two-three months, all the great deals have been sucked up. 9 (ones that we had saved as favorites) houses in particular were sold in one month in this neighborhood. The market is supposed to hit rock bottom in november so people know that there is a light at the end of the tunnel. Obama, likely the next president believes in bailing people out of the mortgage crisis. speculators are seeing this as a prime oppurtunity to buy. If you really want in on this market, i would act quickly, we have also seen 3 houses we were looking at get removed from the market... meaning we were talking to the listing agents who stated that these homebuyers are seeing the end of the crisis and are removing the houses in hopes of making more money in the next six months.
0 votes Thank Flag Link Tue Jul 1, 2008
Hi I just want to address the posters concerns regarding StoneyBrook. I happen to live there and own several homes, of which 3 are in StoneyBrook.

Homes are selling here! There has been an increase in activity lately and I think people realize that the quality of life for the price is very good. There do seem to be a lot of homesites for future development ,but plenty of people will come to find this to be a great location with great amenities.

As far as the builder deals, they are starting to dry up. Yes, there are short sales and some foreclosures but during the boom time, investors were restricted and I didn't see an inordinate amount of speculators come in to this community. It's mostly owner occupied. The recent affordability has made it very attractive for families.

What rising fees? This I haven't seen, and even if it happens it's a great deal for what you get. Plus, you also have to take into condsideration property taxes, and the millage rate here is one of the lowest around. You are not in the incorporated areas of Venice or North Port. I love it here and the quality of life is very good for the price. I don't think you can beat it if you like nature and being near the Gulf.
0 votes Thank Flag Link Fri May 16, 2008
Hi Scott,
As previously mentioned. your concerns are justified. In a market, such as the one we are currently in, regardless of whether in Stoneybrook, Millbrook, or Bubblingbrook all buyers need to exercise good judgement . This involves looking at the big picture not just the subject property and whether its a good value. There are truly good deals in these types of communities but they come with certain risks attached.

Short Sales, foreclosures and good deals do not provide immunity to other more serious issues such as high fees, quality of life, property value, etc.etc.

Our advice is to listen to your concerns, gather the facts, and proceed cautiously when dealing with opportunities of this nature.

Good luck,
The "Eckelr Team"
0 votes Thank Flag Link Tue Apr 29, 2008
Stoneybrook Venice: Actually started later in the building boom and has fallen into the same pattern as other developments. Lennar is actually selling homes at great deals in their Bradenton-Sarasota area developments. Developers and Builders are not building SPEC Homes, so the developments are taking longer to sell-out and complete. Foreclosures and Short Sales get discouraging because of the time it takes for the banks to make a decision. Some homes have been abandoned. HOA fees are increasing with less home owners paying for the ammenities. New Construction homes can offer full and extended warranties.
Jim Soda Prudential Palms Realty
Sarasota, Fl. 941-908-7759
Web Reference: http://www.jimsoda.com
0 votes Thank Flag Link Sun Apr 27, 2008
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