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Florida's Condo Club Wars


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Florida's Condo Club Wars

The move to freeze out those not paying

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There's a story about this in today's Asian WSJ, and I thought this sort of problem would interest GEI readers since it is likely to spread around the US and into the UK and other countries as the economic recession goes on and on

 

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/more photos: http://www.movoto.com/real-estate/homes-fo...32_D1411421.htm

 

Housing pain pits neighbor against neighbor in Florida

Condo association moves to foreclose on residents who are behind on their mortgage and maintenance fees

 

In a nutshell, one resident of the Condo association, Sid Schulman was described as "agitated"...

"...it galls him when neighbors stop paying their mortgage and maintenance fees, and leave the cost of upkeep to others. 'I am paying for these guys," said the 75-year-old sitting poolside, a diamond stud in his left ear.

 

Last year he took matters into his own hands. Near the mailbox of each condo building he posted a list of residents delinquent on their maintenance fees, with the message: 'Pay up, or move out!' and the same in Spanish."

. . .

Thanks to sloppy record keeping some delinquent parties get to stay put longer than others.

 

The condo complex has now installed a finger-print scanning device at the clubhouse, to keep those who are more than 90 days late from using the facilities.

. . .

"The foreclosure process takes over two years," Mr. Schenkel said, "You can get away with living here free for two years, not paying mortgage and maintenance."

 

The village is abuzz with stories of owners not paying even though they can afford to... Some owners who were renting out their units go into foreclosure while renting then to tenants not registered with the association. And they may be collecting money and not passing it to the association.

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It seems like those with sad stories - such as: "I lost my job" - think that it is fine that others pay for their use of the facilities.

 

Another problem is that easy l;ending of a fgew years ago, pout the condo within reach of middle and lowewr income buyers, and now that they are there they want to maintain their lifestyle, even if they can no longer afford it.

 

Early marketing brochures spoke of: "Seventh Heaven for those who insist on living first class."

 

Who is "in the right" here?

This is a big warning for anyone thinking of buying a condo in Florida.

Will this sort of problem spread to the UK?

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The maintenance problem? Sure. I think I have read about it before.

The problem of people not paying, and expecting to be able to STAY PUT is becoming widespread and chronic.

 

Condo owners have being force to find new ways to deal with it, like:

 

+ Fingerprint driven entry devices

+ Security guards

+ Residents who "just don't give a damn", and do not look after "their" properties, need to be brought into line

 

The Guilty consider themselves Victims : Many feel they are "in the right", since they "bought" the property with a generous bank loan. They blame the bankers for their financial problems, and never had the "right values" around which a viable community can be built.

 

If and When UK properties are 25-30% off the peak, I think you will find this to be much more common.

Banks will have a big headache, and so will community associations.

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The problem of people not paying, and expecting to be able to STAY PUT is becoming widespread and chronic.

...

The Guilty consider themselves Victims : Many feel they are "in the right", since they "bought" the property with a generous bank loan. They blame the bankers for their financial problems, and never had the "right values" around which a viable community can be built.

Generation E. (E=entitlement)

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Generation E. (E=entitlement)

Maybe.

Many of these folk have little income, and bought into this project simply because EASY LENDING made it possible.

 

Some are retired now, and their incomes are being squeezed by ultra-low rates and the Financial collapse.

Perhaps they feel thye have no option but to "hold on, until they are kicked out."

 

Others are simply gaming the system. And in the UK you have a huge number of people living off "gaming the system."

The prevasiveness is new in the USA, and almsot unknown in HK.

 

Is it common in Germany?

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Is it common in Germany?

Social security has always been pretty good, so you have people playing it. Especially in the trades you might see people on social security with an untaxed "black" income e.g. as a plumber/handyman on the side. There also is squatting, people who make a part of their living by moving from one rented flat to another, staying 3 months at a time but never paying any rent. Repossessions in general are not as much in the news as in the UK or US.

 

Gated communities and the kind of US/UK style developments (whole cookie cutter subdivisions with ponds and bullshit etc.) are essentially an unknown. What you get is possibly a larger appartment complex every now and then, but often these are quite centrally located or, say, planned within an existing infrastructure. City planning is much more proper IMHO and structures grow rather than being thrown into the middle of nowhere all at once.

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  • 7 months later...

Here's another interesting Condo project in Florida... with a Useful Website

 

Vivante FL : 12,000 sf clubhouse / http://www.My-Vivante-Condo.com/'>http://www.my-vivante-condo.com/

 

If you are considering, or actively searching for, a Florida condominium

For Sale or For Rent, it's time you took a close look at Florida's beautiful

gulf coast. That search will ultimately lead you to Vivante Punta Gorda,

the resort-style luxury waterfront condominiums of Punta Gorda, Florida.

 

Welcome to your Vivante experience

 

Website Guests - When on the Condos for Sale, or Condos for Lease pages, just click on a building of interest, and a new window will open displaying dots on the map indicating the current available units being advertised. When you roll your curser over the top of each dot, the unit number, size and price of the unit will appear next to the curser. When you then click on each dot, the owner's webpage will open in a new window for your full consideration. Also, check out our informative Links, with helpful insight and assistance for your next real estate investment; from learning more about Punta Gorda, to analyzing your dreams, and planning the best financing of your goals.

 

Vivante Owners - When you’re ready to advertise your condominium for sale or condominium for lease, please contact us. We’d love to work with you to bring more exposure to the beauty and value of your Vivante condo investment through the power of your own direct-access webpage. Recent surveys show that 77% of all buyers research their purchase on the Web before buying. We'll help you give them the tools they are looking for, including great links about why current market observations indicate that it is very likely always TIME TO BUY Real Estate.

 

What you should know about Vivante and Punta Gorda

 

Welcome guests of My-Vivante-Condo.com -a comprehensive resource for exploration and discovery of the exclusive Punta Gorda Vivante Condominiums located in the Punta Gorda Isles community of Charlotte County, on the gulf coast of Florida. Vivante is a gated community of approximately 500 luxury condominium units on the shores of Charlotte Harbor, with a full-featured private clubhouse and a flair for the extraordinary. From its Mediterranean style designs; to the expansive freshwater lagoon; Vivante features historic Florida character. Vivante goes the distance when it comes to attracting attention, and surpassing expectations. Both vibrant, yet private, Vivante is right at home with its neighbors, which include The Ponce de Leon County Park and boat ramp, The Isles Yacht Club, and Fisherman's Village pier and Marina.

Punta Gorda is alive with activity, as seen in this PGI Community Calendar, and the Vivante Clubhouse Calendar of Events.

 

A visionary development such as the condos of Vivante Punta Gorda attracts residents and investors of the same caliber that love the features of Florida's gulf coast. The residents of Vivante share a mindset for fostering and preserving the lifestyle envisioned within this gated community. The goal of this website is to preserve and promote the Vivante experience, by offering guests with similar ideals a glimpse of the lifestyle that has lured current residents to Vivante. The website pages include listings of Vivante Punta Gorda condos for sale and Vivante Punta Gorda condos for lease; and alluring information about the Vivante resort lifestyle and other amenities of the surrounding Punta Gorda and Port Charlotte area of Charlotte County on the west coast of Florida.

 

The Vivante condos are situated harborside, at the southern tip of West Marion Avenue in Punta Gorda Isles, south of Port Charlotte, Florida. (map) In close proximity, are beautiful beaches, quaint shops and historic landmarks, numerous parks, picturesque waterways, countless golf courses and busy marinas, which make Southwest Florida inviting, and a popular vacation destination. With its sense of exclusivity, and strong focus on preserving its character, Punta Gorda has also earned the recognition of being named the 2nd best place to live by Money magazine.

 

The quaint waterfront community of Punta Gorda has long been a favored Florida vacation destination by worldwide travelers. Punta Gorda Florida is a waterfront paradise. Whether you like to boat, sail, hit the beach, swim, chill around the lagoon styled pool, soak in the Jacuzzi, enjoy a round of golf, play tennis, shop for the unique or antique, explore the neighboring Ponce de Leon County Park, walk along the fishing and shopping pier, stroll or jog the paved trails within and around the compound, watch the boats traverse the planned European-style boat lift into the neighboring canals, watch the sailboats skim through the harbor on the way to Isles Yacht Club for lunch, rent a boat slip for your own boat, sport fish, fish from the dock, or enjoy fish or some other gourmet meal in one of the numerous area restaurants on the waterfront, or in a quiet garden courtyard, or a restored vintage bank building, its all within reach of those in a Vivante vacation rental or otherwise enjoying a lifestyle investment in a Vivante condominium.

 

Savvy real estate investors have recently discovered the potential of this quaint Florida town, and begun investing in the preservation and enhancement of Punta Gorda's character. The downtown shop owners have preserved its historic buildings and small town atmosphere, and even much of the new construction around town has matched suit. Unique points of past and future area novelties will capture your appreciation for the "air" of Punta Gorda.

 

Vivante at Punta Gorda offers resort style living in a waterfront paradise. The community features a 12,000 square foot private Clubhouse with Three Pools, Six Har-Tru Tennis Courts with a Pro Shop, a Fitness Center with Locker Rooms, Massage & Sauna facilities, and even broader amenities in keeping with such exclusive facilities. When the Clubhouse becomes too confining, check the nautical charts, enjoy your boat in one of the neighboring canals connecting directly with Charlotte Harbor; then even escape to the Gulf of Mexico in minutes if your sense of freedom compels you.

 

LINKS:

/-source website : http://www.My-Vivante-Condo.com

/community photos : http://www.my-vivante-condo.com/PG_photo_gallery.dwt

/ -and area links : http://www.my-vivante-condo.com/PG_links.htm

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Vivante FL : 12,000 sf clubhouse / http://www.my-vivante-condo.com/

===========

Website Guests - When on the Condos for Sale, or Condos for Lease pages, just click on a building of interest, and a new window will open displaying dots on the map indicating the current available units being advertised. When you roll your curser over the top of each dot, the unit number, size and price of the unit will appear next to the curser. When you then click on each dot, the owner's webpage will open in a new window for your full consideration.

EXAMPLES:

1/

BELLA LAGO CONDO FOR SALE

=====

Unit 8935 - 3rd Floor - Building 89

This is a short sale, subject to acceptance by the seller's mortgage holder. This 3 Bedroom, 2 Bath unit has not subscribed to advertising opportunities on this website. Please use the contact information below for additional information.

 

2,338 sq. ft. Living / ??? sq. ft. Lanai :: $249,900 : $106.89 psf

 

MLS # C7015294 This unit is FOR SALE by:

Five Star Realty of Charlotte / Mark Ackerman / Reynolds Realty of Manatee, Inc. / (941) 504-2707 / MLJMA@aol.com

 

2/

BELLA LAGO CONDO FOR SALE

=====

Unit 9344 - 4th Floor - Building 93 - FURNISHED

Brand new luxurious fully furnished 4th floor unit with breathtaking harbor views. Watch the daily sunset from this 3 b/r, 2.5 Bath condo that offers it all, from the elevator that opens inside the unit to the large gourmet kitchen with granite tops to the spacious Master Suite to the screened in lanai to watch the dazzling sunsets into Charlotte harbor plus so much more. Along with the clubhouse and the Swimming Pools this unit offers the best of Florida Living with stunning views of the Harbor.

 

2,348 sq. ft. Living / 266 sq. ft. Lanai :: $329,900 : $140.50 psf

 

This is one of the few Harborfront units available today at Vivante.

Vivante is the area's finest condo complex offering harbor front views of Charlotte Harbor. Vivante is a gated community with a clubhouse full of amenities. Proudly offered at $339,900. Please call Ron, 508-889-6379 to see this spectacular property today!

[photogallery/photo00001994/real.htm]

 

This unit is FOR SALE by:

Suncoast Isles Realty / Mark Ackerman (941) 504-2707 / E-Mail: MLJMA@aol.com / LINK

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