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Silver Dollar Houses

Discussion in 'Shooting Related Threads' started by awbenz, Oct 26, 2010.

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  1. awbenz

    awbenz TS Member

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    Why are so many Houses for sale at Silver Dollar? Kind of scary.
     
  2. southjblue

    southjblue Active Member

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    It's the economy stupid----Mystic----
     
  3. Barrelbulge(Fl)

    Barrelbulge(Fl) Banned User Banned TS Supporters

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    I was down there about a month or so ago. There are tons of houses with for sale signs in the windows. Bulge.
     
  4. Basfshmn

    Basfshmn Member

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    WOW, that comment was alittle uncalled for Mystic. People wonder why they can't get new shooters to the sport. Rick
     
  5. BIGDON

    BIGDON Well-Known Member

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    There are several reasons and there are not a ton for sale. Age of the sellers, loss of a spouse, medical problems, moving up to bigger or better home on the grounds and economic factors (stock market) are just a few. Sounds like someone is trying to bash a good place. What else can you ask for shooting and golf everyday. If you have a place loaded with senior citizens what would you expect.

    Don
     
  6. trapshooterjoe7

    trapshooterjoe7 Member

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    There is a turn-over every year, but now the economy is forcing more sales.
     
  7. j2jake

    j2jake Well-Known Member

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    There are a lot for sale because they are not selling. Simple to me. Just like going to a car show. Many with for sale signs but few with sold sigms. Jake
     
  8. 635 G

    635 G Well-Known Member

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    Besides have a lot of units for sale, the real big problem- is the houses in the Silver Dollar are not real estate. They are manufactured homes on some one elses property. The Tampa Bay area real estate value have declined another 4% per the last info. There are real bargains on"real estate" near the Silver Dollar, years ago these manufactured home parks were a deal, they are not any more. Park rent kike condo ass. dues are not deductable. Manufactured homes depreciate just like cars (in Fl they have tax stamps on each unit)

    Phil Berkowitz
     
  9. gdbabin

    gdbabin TS Member

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    I have to admit that not owning the ground that something I own sits on worries me. That said I've been very tempted to write a check and buy one!


    I do worry though that I wouldn't use it enough throughout the year to justify the cost and that the 40-70k would be better used in the "bank" for now.


    To me it's similar to buying a motor home that only gets used 6 to 10 times a year during the height of the season and then sits somewhere depreciating for the balance.


    Please know this is not a negative commentary on a great facility, but merely my economic rational.


    Guy Babin
     
  10. shot410ga

    shot410ga Well-Known Member

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    $4500 a year is a lot to pay for lot rental, with no end in site. That's the only thing that keeps me from buying a unit there.
     
  11. dverna

    dverna Active Member

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    It makes sense if you are retired and love to shoot and/or golf. I have a number of friends who have units there and they love it.

    BigDon and Phil made good points. Expect things to get worse before they get better as the economy stagnates.

    I was offered a unit for $20k a few months ago and turned it down. I had just bought a 5th wheel to travel to shoots and vacation with. It fits my circumstances and life style better.

    If I was retired, a "bargain" price on a unit at the Silver Dollar might be attractive unless real estate offers a better option.

    Don Verna
     
  12. 635 G

    635 G Well-Known Member

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    Another aspect, is to rent a unit @ the Silver Dollar or nearby manufactured home parks. The rent for the season will most likely be lest than lot rent for the year & you're not married to the place. i'm renting a 3 bdr condo near Palm coast on the ocean,for 21/2 months. Will be shooting all over the area.

    Phil Berkowitz
     
  13. southjblue

    southjblue Active Member

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    Basfshn---"It's THE ECONOMY STUPID" was a campaien slogan some yrs ago and It's
    one reason the repubs are going to do well in this yrs election---You can't hide the facts---People will start shooting and buying houses at the $ when things turn around---I juust answered the ? of the thread---How would you answer it?---Mysttic
     
  14. DENNISMASTROLIA1

    DENNISMASTROLIA1 Active Member

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    Look at it this way-For about 6K /year you can stay in FL. as long as you like. Two-three-four months--or longer. And you can have all of your own things.After all it's YOUR home. If the money is an issue then it's not for you.How much to rent for two months in a hotel or someone elses house.$2200.00 and up per month.And the location may not be ideal.Give me my own place anytime.Just my opinion--Dennis
     
  15. southjblue

    southjblue Active Member

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    Your right Dennis---The $ is a great place to vacation,but the ? is why aren't those houses selling?---Mystic---
     
  16. recurvyarcher

    recurvyarcher Well-Known Member

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    We've thought about buying at the Dollar, and even had a real estate agent take us around and show us some units. Then when we asked the question about the fees and what kind of percentage cap they had on increases per year, the agent said "none". Really?!!!

    The Silver Dollar is not collectively owned by the residents, as are many of the golf course communities in Florida. The corporation that owns that place is a for-profit entity, and may do as it wishes with the real estate (i.e. sell it to a developer in the future). That, coupled with the potential for a large increase in fees from one year to the next, is what killed the desire in us to own anything at the Silver Dollar.

    I love it there, though. If I were rich and carefree, I'd own one whether it was a good investment or not.
     
  17. southjblue

    southjblue Active Member

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    I would own one to but my wife is an east coast beach person---Can't you rent a place close by the $ for 3 or 4 mo,s for under $6000.00 and still have value of investment in your savings?-Or can't you rent at the Dollar ?--Mystic---
     
  18. DENNISMASTROLIA1

    DENNISMASTROLIA1 Active Member

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    Mystic-Do you mean the East Coast of FL? I have one for rent for a great price. Not near the Silver Dollar but in Vero Beach. Two -three trap clubs within 45 min. to 1 hour drive and one just three miles away. Dennis.
     
  19. southjblue

    southjblue Active Member

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    Yes Dennis but we need it down near the Hollywood south to north Miami beach---I used to own a condo in that area and thats where all my friends stay---Thanks--
    Mystic
     
  20. Barrelbulge(Fl)

    Barrelbulge(Fl) Banned User Banned TS Supporters

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    Occassionally on this site the places at Silver Dollar do come up for rent. I recall the amounts at about $1300 for a months rent. When wife and I were down there a short time back we went to thr Dollar, didn't get a chance to shoot as it was raining. The place is beautiful and the club house is one of the best i've seen. While driving through the shooting side only, not the golf side, it seemed that every fourth or fifth home was for sale. There is a woman down there that keeps a list of all for sale and i am sure if you called the club they would steer you in the right direction.


    Wife and I have been looking for a house in that general area and there are some real buys, but the banks are a real P.I.T.A. when it comes to Foreclosures and Short Sales. We are now looking at a home that is owned by someone and not a bank and so far things are looking good.


    Home prices on foreclosures are very reasonable. We looked at a 3350 sq/ ft. home with an enclosed pool. 3 car garage, 3 baths and 4 beds where the bank was asking $129,900, and there are tons of houses like this one I just called out. Most do need repairs. the estimates on this one in particular were in the $8000 range still a bargain. When comparing a piece of property like this that will go up in value, once we get Obama out of there, to a manufactured home in Silver Dollar to me there is no doubt what I want.
     
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