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We are thinking about buying in Palencia. We currently live in Baltimore. We are retired. We have not yet visited and will do so in the next month.
Can someone please advise about:
Real estate taxes in Palencia/St. John's County.
Is wind and flood insurance required and if so, what is cost?
The development is gorgeous and ruralish - approx 6 miles north of St. Augustine. How far/long to grocery store, drug store, pet store, cleaners, restaurants, movie theaters? In other words, the necessary shopping and dining out.
Covenants in Palencia regarding pets?
What are monthly utility costs like in a 2500 sq foot plus house during a/c months?
Anything else you can tell me would be really appreciated. I'm trying to get some kind of idea what it costs monthly other than principal and interest to own in this area, as well as the conveniences vs the rural quality.
Palencia is a beautiful development for sure. It does have a small grocery store right at the entrance of Palencia. It also has several small businesses in the "town center" area as well. A Starbucks, a good chinese and sushi place, and a couple other restaurants. It is long drive from everything else however. As long as that doesn't matter to you, it is in my opinion maybe the most beautiful development in the Jacksonville area. I'm sure there are CDD fees and taxes in St Johns are high, but still lower I'm sure then you are used to in Baltimore. I'm sure your realtor can give you an idea of what the cdd fees would be and what your expected monthly costs would be. I think for a retired couple, you have made a great choice.
We are thinking about buying in Palencia. We currently live in Baltimore. We are retired. We have not yet visited and will do so in the next month.
Can someone please advise about:
Real estate taxes in Palencia/St. John's County.
Is wind and flood insurance required and if so, what is cost?
The development is gorgeous and ruralish - approx 6 miles north of St. Augustine. How far/long to grocery store, drug store, pet store, cleaners, restaurants, movie theaters? In other words, the necessary shopping and dining out.
Covenants in Palencia regarding pets?
What are monthly utility costs like in a 2500 sq foot plus house during a/c months?
Anything else you can tell me would be really appreciated. I'm trying to get some kind of idea what it costs monthly other than principal and interest to own in this area, as well as the conveniences vs the rural quality.
Thanks, Sherry
Well let me start of by saying that Palencia is a beautiful neighborhood. Having said that, the taxes are not that bad. I think the millage rate in that particular neighborhood might be 15.2909 so youre looking at $1529 per $100,000. Now I cant guarantee that is the rate because it varies for every neighborhood just about.
Also in Palencia I looked at condos in there and the HOA was $1200 per quarter and the CDD was like $200 a month so it was a total of $600 a month in fees on top of your mortgage!
Lenders will require flood insurance if you are in a low lying area that is under sea level and wind insurance if you are a certain distance to the beach which I think Palencia is not.
I dont know about covenants regarding pets.
If the house is energy efficient then I can tell you the electric bills here are cheap! My house is 1550 sq ft and our electric bill is $80 a month with the TV running all day after 4pm and all day on weekends, air on 74 at night.
The developer of Marsh Landing (where I live) was involved in the development of Palencia. And the influence shows. It's a lovely community. The taxes would be about as stated below. Perhaps close to $6k a year on a $400,000 house. Don't know what the HOA fees are. We pay about $2500 a year here in Marsh Landing. Don't know if you're looking at houses/condos. Condo fees would be higher than HOA fees (because condos have to cover more than things than HOAs in terms of insurance and the like).
Whether or not windstorm or flood are required - I think they're both essential. Palencia is right off the intracoastal waterway - and fairly close to the ocean. It is not on high ground (almost nothing in this area is on high ground. You have both windstorm and flood risk. We are "old" State Farm insureds. You won't be able to buy from a company like State Farm these days. But our State Farm coverage and our Federal Flood Insurance policy cost a little less than $2500/year (and I expect them to cost a fair amount more in the future).
The area is not rural. Rural is like Hastings in St. Johns County. It is in general a hodgepodge of cheap residential and commercial areas in the middle between 2 nicer development areas (Nocatee to the north - and St. Augustine to the south). The area will IMO fill in eventually with nicer stuff (but not for at least a couple of decades or more IMO). It is pretty far away from everything. I think the closest Publix (grocery store) is probably in the World Golf Village (about 5-6 miles to the west on Race Track Road). Closest shopping would be at the Avenues Mall - or the St. Johns Town Center - about 10-12 miles to the north. There's dining in that area - and in St. Augustine as well.
Don't know about the pet rules. I think St. Johns County limits pets like cats and dogs to 4 a household or so. Palencia may have more restrictive covenants. What kinds of pets are you talking about?
We have about 3000 sf under A/C (and A/C months here are basically all months that aren't heating months) - and in the summer - our electric bills run about $400/month. We are retired - like you - and when you're retired - you tend to be home a lot. You're not going to program your thermostat to 82 when you go to work. Note that we have a one story house - and our ceilings are 10 feet. Bills can go higher when you have two stories - and high ceilings. One reason our power bills are so high is our power company - Beaches Energy Services - has tiered pricing for power - the more you use - the more you pay per unit. Ditto with water (which is St. Johns County Utility Department). We have about an acre of land - and water bills run from about $80/month in the winter to perhaps $175/month in the summer.
I recommend that you come down and take a look. WYSIWYG. Also - if you like the character of Palencia - you will probably like Marsh Landing up here in Ponte Vedra Beach.
Do you live in the city of Baltimore proper? And maybe like it except for the weather? If so - perhaps you might look at some of the nicer older Jax neighborhoods. Whatever you do - take your time looking around the metro area here (it's huge). With something for everyone - regardless of tastes and personal preferences. Robyn
Taxes are based on purchase price, so figure about 2% of that for your regular taxes. If it's your primary home you can take advantage of homestead which will reduce that amount and cap the yearly amount it can go up. You'll also pay an additional $3400 as part of your taxes for the CDD fee. HOA fees are around $200 a month plus there's an additional $75 monthly or so for cable/internet.
It is a beautiful community, lots of trails, tennis, pool complex, playgrounds. Lots of trees. I don't golf but the Palencia course is supposedly fabulous. You're a little far out but there are groceries at Palencia and World Golf Village that are both within 10 minutes.
-Sean
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Last edited by doggiebus; 07-07-2010 at 02:52 PM..
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It sounds like your cost questions have been covered, so I want to address the "rural" aspect of Palencia that you mention.
Palencia is pretty much in "the middle of nowhere" right now. You have a couple of good basic services, but you will have to drive several miles to Jax or St Augustine for most things.
That being said, don't buy in this area if you are actually looking for rural or isolated living. Once the real estate market picks back up, you will see expansion at Nocatee, Palencia, and World Golf Village. Basically, everything east along US1 is going to merge into one giant suburb between Jax and St. Augustine. West of US1 is a large conservation area, so you will see some preserved area.
However, fully expect that sometime in the next decade that entire US1 corridor is going to be a traffic laden major suburban thoroughfare. Depending on one's personal situation that's either going to be great or terrible, so keep that in mind.
Taxes are based on purchase price, so figure about 2% of that for your regular taxes. If it's your primary home you can take advantage of homestead which will reduce that amount and cap the yearly amount it can go up. You'll also pay an additional $3400 as part of your taxes for the CDD fee. HOA fees are around $200 a month plus there's an additional $75 monthly or so for cable/internet.
It is a beautiful community, lots of trails, tennis, pool complex, playgrounds. Lots of trees. I don't golf but the Palencia course is supposedly fabulous. You're a little far out but there are groceries at Palencia and World Golf Village that are both within 10 minutes.
-Sean
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$8k in taxes on a $400k house doesn't sound right IMO (unless your're including things like CDD fees). Robyn
Last edited by doggiebus; 07-07-2010 at 02:53 PM..
It sounds like your cost questions have been covered, so I want to address the "rural" aspect of Palencia that you mention.
Palencia is pretty much in "the middle of nowhere" right now. You have a couple of good basic services, but you will have to drive several miles to Jax or St Augustine for most things.
That being said, don't buy in this area if you are actually looking for rural or isolated living. Once the real estate market picks back up, you will see expansion at Nocatee, Palencia, and World Golf Village. Basically, everything east along US1 is going to merge into one giant suburb between Jax and St. Augustine. West of US1 is a large conservation area, so you will see some preserved area.
However, fully expect that sometime in the next decade that entire US1 corridor is going to be a traffic laden major suburban thoroughfare. Depending on one's personal situation that's either going to be great or terrible, so keep that in mind.
Agreed. If you're really looking for rural - better to buy something west of I-95 on perhaps SR207 between the interstate and Palatka. Robyn
Very nice community, stuck between St. Augustine and Jax. CDD fees are a little high for the area. Golf Membership is there if you are interested. World Golf Village is also area next to 1-95 for easy commute to Jacksonville, about 20 minute drive.
You should be able to find a nice home. Inventory levels are still good and prices are great. Some good deals on inventory homes this week on new construction in some areas of St. Johns county. Interest rates are still low at this time if you are needing a mortgage.
Sherry, I just saw your post. A few answers in case you are still interested.
Palencia is a gated community built in two halves. Eventually the halves will be connected. The South end is gated full time. The North end is manned at night and not the day time at this point.
Taxes on a $400,000 home that is Homesteaded are approximately $5542.87. Homeowners Insurance will run around $900 per year.
There is a $400 one time fee charged at closing. Then there is an annual administrative fee of $196 per year. There is a CDD Bond that is charged on your taxes that is $1536 per year. Then there is an operational and Maintenance fee (most people consider this the HOA Fee) that varies according to neighborhood and lot size. This could be from $900 to $2000 per home per year. Probably for a $400,000 home the fee for CDD & Operations and Maintenace together would be around $2400 per year.
They have one of the finest Amenity centers in the area.
Six miles down the street is The World Golf Village which has a gated and a non-gated section. The fees in the gated section are $1900 per year with no CDD Fee.
Let me know if I can answer anything.
Ted Tyndall
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