I get asked this question often… and with good reason. The current prices are extremely low. To see a lot that once was sold at over $500,000 be available for less than $20,000 seems incredible.
The truth of the matter is that there is no “catch,” just an opportunity to get a great deal before the prices rise… which will happen. There are no hidden fees. The HOA and Club fees that were in place when Bella Collina opened still exist, and the Club Membership Deposit has always been there since the beginning.
Many of these properties were purchased during the real estate boom by investors planning to flip, others bought at exhorbitant prices, doomed to “readjust” at some point.
I receive many calls by investors and buyers interested in purchasing, many uncertain about taking the step. It is understable to be insecured considering the impact experienced by the community and economy. However, since Reynolds Properties has taken over and as the real estate market stabilizes, more lots and homes are selling, and the interest has increased even more.
If you are looking into purchasing in Bella Collina, please keep in mind that a vacant land purchase will require a refundable Club Membership Deposit of $40,000. Additionally, there are monthly HOA and Club fees, which could total over $600, depending where the lot is located (fees for homes are higher).
If you are just looking for a cheap flip deal, this may not be the community for you. The current low prices allow for an investment opportunity like no other, but it doesn’t change the fact that Bella Collina still is and will continue to be developed and maintained as an exclusive upscale community.
Feel free to call Irma Yapor at 407-909-8000 to answer your questions or schedule a showing.