Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I am looking at communities (55+ AND non-55+) from Boynton to Pompano as I will be relocating soon. One thing that strikes me in looking at the realtor sites is that CV-Deerfield has at least 100-150 sale listings, most under $100,000. Is there some explanation for the high number of available units? It makes me leery about even looking there.
I am looking at communities (55+ AND non-55+) from Boynton to Pompano as I will be relocating soon. One thing that strikes me in looking at the realtor sites is that CV-Deerfield has at least 100-150 sale listings, most under $100,000. Is there some explanation for the high number of available units? It makes me leery about even looking there.
ITS OLD, those cheap units need major updating. Also keep in mind that older buildings might not have elevators so 2nd floor units become very undesirable for older people. The over 55 also hurts resale in some cases so they don't "pop" in value like non-55 restricted units due to demand.
Also consider financing can be tough in these places, the banks don't want to loan for 30 yrs on small amounts for 3% interest knowing the buyer will likely die in a few years and due to the poor resale the heirs will just let it go into foreclosure vs. dealing with it.
I am looking at communities (55+ AND non-55+) from Boynton to Pompano as I will be relocating soon. One thing that strikes me in looking at the realtor sites is that CV-Deerfield has at least 100-150 sale listings, most under $100,000. Is there some explanation for the high number of available units? It makes me leery about even looking there.
It is older, but it within walking distance to the Tri-Rail, a couple miles to the beach and near I-95. The entrance is being renovated later this year- it looks so old-school, and some of the buildings look like something from a chernobyl town. But there is so much going on inside. I worked here one season and discovered how much I liked it.
I purchased a smaller unit here last year for less than most pay for a car. Which by the way, I got rid of my car. There are shuttles at no cost, walking distance to lots of things, a county bus that comes into the community, Tri-Rail shuttle is free. But the really good deals don't last long - mine was on the market under 24 hours.
There are over 200 separate condominiums associations at Century Village East - think different corporations. Some have terrible rules, most have old documents that need work. Condo commandos can play hardball here, but most are really old and times are changing here. I see it as opportunity.
Reasons for low prices are numerous-
1- an owner dies and their family that lives out of state wants to unload the condo, as the monthly fees run about $500;
2- banks will not lend under 50K and some documents do not permit mortgages;
3- the recreation lease kept banks away from the higher priced units, HOWEVER, the owners have recently purchased the 40-year rec lease, so look for prices to shoot up now that bank financing will be available;
4- Covid 19 has caused many of the seasonal residents, especially older Canadians, to sell, but also has caused many from NY to look to buy;
5- many of the condos are two story, some without an elevator lift, some with lifts. The "highrises", four story buildings, all have regular elevators.
I just love it here. The most difficult thing for me to get used to was how quiet it is at night, but there is nightlife just outside the community and free shuttles that run until about 10:30pm. And, of course, Uber.
The high school I attended is nearby and my friends make fun of me for living at "Cemetary Village", but every day I see 90 YOs playing pickleball, swimming, making art, working out in the fitness center, and shooting pool. For the price of a nice car, I own a condo and have a lifestyle as active as I want. And I can rent my condo out for the season and it will more than pay all expenses, allowing me to travel for half a year.
ITS OLD, those cheap units need major updating. Also keep in mind that older buildings might not have elevators so 2nd floor units become very undesirable for older people. The over 55 also hurts resale in some cases so they don't "pop" in value like non-55 restricted units due to demand.e
Also consider financing can be tough in these places, the banks don't want to loan for 30 yrs on small amounts for 3% interest knowing the buyer will likely die in a few years and due to the poor resale the heirs will st let it go into foreclosure vs. dealing with it.
Citi Guy, please stop spreading false information about Century Village. Im here since 2014, While in the past it was quite different, and many of the things you always call out were true. BUT, it has made a 360 in the last couple of years. Many beautiful updated units. Lots of younger people have already moved in. As the above person mentioned, we now own the club house. Many high rises with elevators. The two story second floor are still selling. Lifts on many of them. The grounds are beautifully kept. The entrance ways have been redone. They are going to put a perimeter wall, and a beautiful park where the golf course once was. Beautiful condos are presently being built right up close to us worth 400,000. yes the place is old but continually being improved and updated, making it like brand new
Its a nice place to be. Im not that old and im certainly not poor. You have the right to your opinion, but I just wanted to clarify what century village is becoming.
Citi Guy, please stop spreading false information about Century Village. Im here since 2014, While in the past it was quite different, and many of the things you always call out were true. BUT, it has made a 360 in the last couple of years. Many beautiful updated units. Lots of younger people have already moved in. As the above person mentioned, we now own the club house. Many high rises with elevators. The two story second floor are still selling. Lifts on many of them. The grounds are beautifully kept. The entrance ways have been redone. They are going to put a perimeter wall, and a beautiful park where the golf course once was. Beautiful condos are presently being built right up close to us worth 400,000. yes the place is old but continually being improved and updated, making it like brand new
Its a nice place to be. Im not that old and im certainly not poor. You have the right to your opinion, but I just wanted to clarify what century village is becoming.
Have a blessed day.
I get that you are personally "invested" in CV, I'm glad it is a nice place for you. Please re-read my post, I was stating a few facts, not bashing CV but rather telling the OP things he needed to look out for.
1. Cheaper units ARE in need of updating, which is why they are/were cheap.
2. Younger residents, still a 55+ community full of older residents
3. Still tough to finance because of the low values and HOPA restrictions. Banks simply don't want to be bothered with a small loan and no real upside.
4. Wall will never get built, it will cost millions that the current residents will never approve (just like someone else's wall idea that never happened).
5. Neighboring values surely will escalate, but HOPA communities again get held back and rarely explode in value.
Asking $35,000.........been on market 180 days. Next unit available is 46,000, next one 49,800 then probably another 20 units in the 50-60K range. Not exactly a 360.......but it might be up 20-25% in this boom. But remember at this price point 20-25% on a 40K unit is $8000-10,000.......not exactly killing it
I get that you are personally "invested" in CV, I'm glad it is a nice place for you. Please re-read my post, I was stating a few facts, not bashing CV but rather telling the OP things he needed to look out for.
1. Cheaper units ARE in need of updating, which is why they are/were cheap.
2. Younger residents, still a 55+ community full of older residents
3. Still tough to finance because of the low values and HOPA restrictions. Banks simply don't want to be bothered with a small loan and no real upside.
4. Wall will never get built, it will cost millions that the current residents will never approve (just like someone else's wall idea that never happened).
5. Neighboring values surely will escalate, but HOPA communities again get held back and rarely explode in value.
Asking $35,000.........been on market 180 days. Next unit available is 46,000, next one 49,800 then probably another 20 units in the 50-60K range. Not exactly a 360.......but it might be up 20-25% in this boom. But remember at this price point 20-25% on a 40K unit is $8000-10,000.......not exactly killing it
You are truly misinformed and have a mind set thst won’t be changed. There are tons of 55 plus communities in Florida. So what’s the problem. I’m proud to have reached my age,67. Im very healthy.
Many have been denied that privilege . You will get old too or die first. You pick.
Wow, they took out the golf course. It's probably been awhile since they did that. The last time I was there was in the 1990's visiting my grandmother. She lived in Deerfield E building on the 4th floor, her porch overlooked a pond and the golf course. She used to golf a couple times a week all the way into her early 80's. She was 94 when she died.
Gorgeous property, tons of activities. Plus the tram was fun.
Wow, they took out the golf course. It's probably been awhile since they did that. The last time I was there was in the 1990's visiting my grandmother. She lived in Deerfield E building on the 4th floor, her porch overlooked a pond and the golf course. She used to golf a couple times a week all the way into her early 80's. She was 94 when she died.
Gorgeous property, tons of activities. Plus the tram was fun.
Yes. The park will be beautiful. They already started the perimeter wall, contrary to what CG predicted.
You are truly misinformed and have a mind set thst won’t be changed. There are tons of 55 plus communities in Florida. So what’s the problem. I’m proud to have reached my age,67. Im very healthy.
Many have been denied that privilege . You will get old too or die first. You pick.
Have a beautiful day.
Happy Birthday! Not taking anything away from you and your CV experience.
But if CV wasn't a 55+ community do you realize that those condos would double in value overnight? If the place caught some momentum from this crazy market those condos might triple in value. Sadly the 55+ rule kills resale in those older communities. Where can you buy a condo for 35K outside CV? Nowhere in Broward! Slumlords would scoop them up instantly at those prices, yet they don't race over to CV? Too many rules and no upside potential.
A friend's mom bought a unit in Deerfield off US1 20 years ago. She looked at CV and decided it wasn't for her. She spent a few bucks more on the US1 unit. Today it is worth over 3X what she bought it for. She was a career waitress, not a wealthy woman. The CV unit would be worth the same value today as it was 20 years ago, zero appreciation. US1 is a more walkable, safer neighborhood also.
Happy Birthday! Not taking anything away from you and your CV experience.
But if CV wasn't a 55+ community do you realize that those condos would double in value overnight? If the place caught some momentum from this crazy market those condos might triple in value. Sadly the 55+ rule kills resale in those older communities. Where can you buy a condo for 35K outside CV? Nowhere in Broward! Slumlords would scoop them up instantly at those prices, yet they don't race over to CV? Too many rules and no upside potential.
A friend's mom bought a unit in Deerfield off US1 20 years ago. She looked at CV and decided it wasn't for her. She spent a few bucks more on the US1 unit. Today it is worth over 3X what she bought it for. She was a career waitress, not a wealthy woman. The CV unit would be worth the same value today as it was 20 years ago, zero appreciation. US1 is a more walkable, safer neighborhood also.
When you look at YOUR websites you skip over the condos in here that go for over 200,000 for some reason. There are many upper 100,000s. Like I said you have an unchangeable mindset. I could have bought anywhere when we purchased our condo but chose cv for all it’s activities. No regrets. My condo is beautiful and has increased in value greatly. I know, they don’t meet your materialistic standards, but I don’t measure wealth with money. I’m a very rich woman.
Be blessed
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
CVE - location and price
