Jim Mable

Yesterday, 21:58
BEST ANSWER
Hi Jim go to http://www.wcicommunities.com

Click on REORGANIZATION (on the right side of the main WCI page)

on the gold menu bar on the left click on COURT DOCUMENTS

That takes you to Epiq Systems page and there is an icon on the top that says DOCKET click that

Every filing in the WCI bankruptcy is there in PDF.

Go by the docket number on the left and you will see #731 is the lien. It has a brief description in the middle column and a link to Images on the right. Click on IMAGES and all the scanned documents for that filing will drop down in a menu. Click the MAIN DOCUMENT and it will download the PDF to you.

The download is free and safe =)

Thanks, Got it! Looks like a have a lot of reading to do when time permits. Best wishes, Jim - Wed Nov 12 2008, 04:48

Rivington "The Hills" just had a half a million dollar lien slapped on it by J. Iapaluccio Inc. for unpaid construction bills in Bankruptcy court. See http://chapter11.epiqsystems.com/docket/docketlist.aspx Go to docket # 731 and click on Image and you can read it for yourself.

I would be very, very wary of buying anything at Rivington. The condos are not worth what they were priced at pre construction with a housing market due to drop another 20-30%, half the development is stalled, the amenities are not built and WCI is in Ch. 11 and delayed on posting 3Q report. It doesn't look good at all.

Just folowed the link and did not find Docket 731.. Is this a wrong link? Thanks, Jim Mable - Tue Nov 11 2008, 20:55

Just received something via email from WCI regarding discounted fixed and variable mortgage rates through Wells Fargo Bank which were well below current rates. Again, as other posters have mentioned, they are in Bankruptcy. The location cannot be beat being on the NY line. At the time of approvals, prior to the current downturn, I figured the complex would be a home run! But, as we know the economy is in a downturn right now. As others have stated, there are many housing choicesy, an over supply of inventory and low interest rates. Being new construction, they would most likely be more willing to give you upgrades or condo fee & mortgage discounts vs. lowering the selling price. - Sun Aug 24 2008, 08:05

Carla, I looked at the listing and see you had your home on the market from November of last year to May of this year at an asking price $20,000 less than now. After 6 months on the market and not selling at a lower price, why should it sell now at a higher price? Home prices are not increasng in Connecticut, mortages are harder to obtain and there is still an oversupply of inventory available. - Fri Oct 17 2008, 04:11

I think you have all the avenues covered with the costs, but you are excluding, advertising, developers incentive, etc which could range from 15%-30% or more. .. Good luck! Jim - Thu Sep 25 2008, 14:23

Perhaps you may consider an appraiser. Nonobjective viewpoint.. Good luck!. Jim - Thu Sep 25 2008, 11:42

Great answers by everyone! If you did strictly instruct your agent not to show homes with an association fee, then I would ask the agent to make ammends. You stated you put an offer in and it was accepted. Was this within a day or so? Has the home inspection & appraisal actually been done already? If not you can call your mortgage person as well as the home inspection company to cancel. If they have been already completed then, as other posters have said contact your agent, the broker & your attorney. If the agent was familar with the area he should have known about the monthly fee as he is representing you. But, things like this do happen.. If you are just getting "cold feet" that is one thing, but if you feel strongly about this fee, I would contact your attorney as soon as possible.. Good Luck! Let us know how this plays out! Jim - Thu Sep 25 2008, 10:50

Agree with both Dan & Don,. If we are talking about a new house and all things are equal (same builder, same quality, same cost for the land , etc) YES the selling price per square foot should be in a similar range. But, any deviation from the quality, location, style, view, etc has to have an impact! I have seen as the other posters will most likely agree, a home equal in all aspects selling for 20% or 150% more just due to location, view, quality, etc. For instance, a house on Candlewood lake with direct frontage on the lake will sell for much more than an identical house just 40' away across the street with just a view of the lake. LOCATION, LOCATION, LOCATION, THEN QUALITY, VIEW, ETC!. - Fri Sep 5 2008, 14:58

Apples Humm???. Were all the apples grown by the same farmer, picked at the same time, in the same orchard, using the same union crew to pick the apples? Or were some of the apples grown by a different farmer several months ago, in an orchard located next to a toxic landfill, using illegal workers? Using this
theory all cars should sell for the same price per lb, sqft, color, number of tires, etc?

Square footage is only one of the factors in estimating value. Much more consideraton is given to location, site, view, style, quality, age and condition to name a few.

If you are looking at new construction of identical homes, identical sizes, on identical lots, with identical views, by the same builder, YES they would most likely be priced in a similar range per square foot. For example lets use $225 per square foot. Say one of these identical homes sells today and the buyer lost his job after 1 year and has to sell. There are still plently of identical new homes on the market now priced at $225 per square foot, but can this seller get $225 per square foot? - Thu Sep 4 2008, 22:02

Think Don has answered most of your questions. I did not see your most recent post prior to posting mine earlier today. In regards to todays quaestions it would appear you are saying recent sales in the area indicate MLS $/sqft data and Assessors data are equal but currently offered property MLS $/sqft and Assessors info conflict. Don't know the answer? Sooner or later these available homes will sell and that data will be reported into the mls system as sold properties. Data by the assessors office is what you are taxed on only. Towns in CT are required to due a revaluation every 4 years. The appraiser for the town may or may not be able to gain entry. If a homeowner finished off the attic, garage, lower level, etc. between inspections and legally did so with proper permits the Building Department in theory communicates with the Assessors office so they can tax the improvements. But what happens if the building department and assessors do not communicate? (it happens) Or the improvements are not legal and the homeowner did not allow entry to the appraisers during reval time so they would keep taxes lower? If you have a certain home in mind and are concerned about the validity of the square footage, just insert into the offer or contract something similar to "subject to square footage validation by appraiser, assessor, etc" I am sure if the owner has nothing to hide they should not have a problem. I am also confident that if an owner called the tax assessor and asked for a remeasurement they would do so. In Connecticut both of the largest MLS systems require agents to verify the listing data (i.e. agent supplied, town records, owner, etc).. - Thu Sep 4 2008, 13:37

Square footage is calculated as the other responses have stated, from the exterior. The style of a home is also a consideration in figuring the gross living area (livable square footage). If you are comparing four (4) new recently sold similar style colonial homes each offering 3,000 square feet of finished living area the selling prices (per square foot) should be in a common range with the exception of any differences due to quality, upgrades, design and appeal, view, lot, age of sale, location, etc. As far as the accuracy of assessors records? Depends on the appraisal company that does the revaluation for the town/city. Some are good, some not so good. Have seen a high ranch (which is typicaly above grade on both levels) assessed as both a one story with finished basement as well as a two story. Most tax assessors do not inspect the home themselves and rely on these companies, but they will inspect if they suspect a problem or are asked to do so. Yes, I agree the advertising can be misleading/deceiving with inflated square footage. Recently had a home expire that I advertised as offering 2,800 square feet (finished above grade living area). Another company listed the property and included the unheated finished basement in the square footage and advertising it as a 3,500 square foot home. - Thu Sep 4 2008, 06:32