With the announcement of the new $4000 fee, and now its replacement, the 1% Capital Initiation Fee (CIF), my neighbors are bailing out of Big Canoe.
My neighbor next door is selling, a neighbor down the street is selling and another neighbor is selling his house along with the 3 lots that he owns (3 houses and 3 lots within 75 yards of my house). Their message to me is clear, “Get out of Big Canoe now.”
Another neighbor and I have discussed leaving Big Canoe but the housing market is poor at Big Canoe. But if we wait until after the Developer votes-in the new CIF, it will cost us an extra $4000 to $6000 to leave.
Let’s face it, this CIF is a given; unless all of the Big Canoe property owners vote in the up coming election (they rarely do), the Developer’s block votes will put this 1% Capital Initiation Fee in place.
Are other Big Canoe property owners thinking about putting their houses on the market due the ever-increasing costs at Big Canoe?
A new question for the LTFC/POA:
Will the POA Board (really the Developer) give each existing property owner a two year grace period whereby that property owner can sell his or her Big Canoe home without having to pay the exit fee (CIF) (by buyer and seller)?
3 users commented in " Moving On? "
Follow-up comment rss or Leave a TrackbackAs the admin for the site, I don’t believe my bias has a place on the site, but I can tell you that the number of homes for sale now is no different than it was at the start of the year. The number of homes for sale ranges from 235-245. The number lof lots for sale ranges from 114-119, and the number of condos has been 7-8 for sale. I’d expect to see that number go up some as well since people often start to list or relist their homes in Spring.
A Different Number Interpretation
Numbers don’t always tell the story. You say numbers havent gone up, but then one has to wonder why ‘anyone’ would put their house up right now with pries falling. It is amazing that so many homes are up for sale considering current market conditions. I mean you have to be in dire straights to put a house on the market right now. I would suggest the only reason we are maintaining at usual levels is beause Big canoers are getting out now and willing to take less! I shudder to think what might happen should the economy and housing pick up. We owners need to wake up and take notice it’s time to scrutinize every move/dollar.
Just a clarification: the number of homes for sale has risen since the end of 2006. As of today, the number of resale homes (not Developer product) is 248, number of lots is 122, condos 9.