Wesley Chapel gets first US Crystal Lagoon community

[bentlebee]

I wasn't talking about the CDD/HOA for a community as this new one seems to be as it surely shows they wild have something to offer. I meant for the ones that have hardly no amenities and/or not so great location unless you don't mind where the community is due to working from home but still the stores, etc. are further out.

There is a new elementary school opening soon in Meadow Pointe. Wireglass Elementary which will relieve some other school from overcrowding.

The new planned rezoning seems to be changing as some kids would have to go at the other side of I-75 to elementary school which is now no longer the case from what I have heard but make sure to double check.

[EngGirl]

I bet the CDD bond for this lagoon community will be longer than 30 years Otherwise fee will be too high. I predict a lot of people will be going into default (due to existing high prices for homes and pretty poor construction quality), so I am wondering how they are planning to keep up with this lagoon. They better sell homes as fast as possible lol

As for the schools, rezoning sucks. Sure new school will provide temporary relief (maybe!), but looks like most schools will be close to or still over capacity. For example, Seven Oaks Elementary is projected to be at 117% while community is still building (mostly townhomes?).
Other schools in the area including Denham on other side of I-75 will be around 100% capacity. With the construction rate as it is in no time new Wiregrass Elementary that is under construction now will be full and over capacity.
And it was reported Pasco is expecting increase in enrollment again... With all these new developments even adding 1 new elementary and 1 new middle and high in one ALL schools will be full and over capacity. Poor planning on Pasco County part. Seems like whoever issues permits is not taking schools into consideration. And schools cannot keep up with numbers. Horrible planning. But yeah, let's add first lagoon community to this County, why not?!

[bentlebee]

Originally Posted by EngGirl

I predict a lot of people will be going into default (due to existing high prices for homes and pretty poor construction quality), so I am wondering how they are planning to keep up with this lagoon. They better sell homes as fast as possible lol

I'm not how good your prediction will be as it is basically just throwing it out there without knowing what home prices will be and who will buy. It sounds very negative, especially when you can see that the majority of home owners was "just" underwater and not had to sell or defaulted.

If we count all homes with a mortgage the ones who defaulted was still a very low percentage.

The amount of homes "underwater" was a much larger percentage but that is nothing more than on paper losing money and of course ...unfortunately not able to sell for the same amount at the time they may have wanted to move.

Right now it is harder to get a mortgage so the screening is more intense and I'm not saying everything is ok and nothing can go wrong but it is no longer 2005 to get a mortgage.

Therefore more people are renting and this community will most likely be for people who are not low income homes for home owners who need down payment assistance and nothing is wrong for people who need that program but I assume most home buyers in this community will consist of Conventional loans with larger down payment.

The time we have seen mortgage companies let owners conduct a calculated short sale which happened IMO the most, are over! That mortgage companies allowed that hurt most of us in the values of our homes.

It was awful to see that people lied on hardship letters and sellers inquiring with lawyers what was needed for A SHORT SALE and than to take 6 months to move money else where and than to put their homes on the market as a short sale, than taking almost all appliances from these homes and starting to rent higher end homes.

If mortgage companies were just as strict back than as they are right now than we would have way less short sales and faster foreclosures and less communities hit as hard as we have seen.

[EngGirl]

Florida Community Development Districts Bonds
chесk out how many CDD's are at default... unless all this data is outdated...

[Enyar]

They paved paradise and put up a ....pool? Beats a parking lot I guess.