S-bag Sales 2015-2016

Admin
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S-bag Sales 2015-2016 May 28, 2016 21:35:45 GMT -5

Post by Admin on May 28, 2016 21:35:45 GMT -5

Of the 36 property transactions, thirteen (13) of the sales recorded were "administrative" and considered Unqualified ie they were not market-driven but rather, paper transactions related to trusts and estates. The remaining 23 sales were all homes and 8 of those were doublewides. Ten of the 23 home sales were less than $20K and 5 of the 23 were $21K-$40K.

28-30-01-939010-011060     5/13/2016         $71,000
28-30-01-939020-049020     3/23/2016             $100
28-30-01-939010-018100     3/23/2016         $18,500
28-30-01-939020-043070     3/21/2016         $19,500
28-30-01-939010-026210     3/18/2016         $17,000
28-30-01-939010-004200     3/18/2016         $20,000
28-30-01-939030-054170     3/17/2016         $40,000
28-30-01-939020-044060     3/16/2016                 $0
28-30-01-939020-032160     3/16/2016         $36,000
28-30-01-939020-035040     3/15/2016         $39,500
28-30-01-939010-019040     3/3/2016           $18,000
28-30-01-939020-051120     3/1/2016         $113,000
28-30-01-939020-043061     2/26/2016         $21,100
28-30-01-939030-059050     2/25/2016                 $0
28-30-01-939010-013040     2/25/2016             $100
28-30-01-939020-030020     2/24/2016         $37,000
28-30-01-939030-057110     2/23/2016                 $0
28-30-01-939020-053030     2/18/2016         $10,000
28-30-01-939030-058060     2/12/2016          $77,500
28-30-01-939020-049160     2/3/2016                 $100
28-30-01-939010-006050     1/27/2016           $12,000
28-30-01-939020-032070     1/21/2016                   $0
28-30-01-939020-040070     1/18/2016           $61,000
28-30-01-939020-049080     1/15/2016           $20,000
28-30-01-939020-052050     1/12/2016           $19,000
28-30-01-939020-031040     1/11/2016           $39,000
28-30-01-939030-054370     1/7/2016             $15,000
28-30-01-939010-028170     12/18/2015              $100
28-30-01-939020-048110     12/15/2015         $72,500
28-30-01-939010-028020     12/15/2015         $67,000
28-30-01-939010-021010     12/14/2015                 $0
28-30-01-939010-004070     12/7/2015           $71,000
28-30-01-939010-003080     11/25/2015                 $0
28-30-01-939020-039030     11/23/2015                 $0
28-30-01-939030-059270     11/19/2015                 $0
28-30-01-939030-055080     11/5/2015                   $0
_______________________________________________________$914,600

Average $39,765

I recieved a curious call this past week from the Polk Property Appraiser. She asked me how much was I asking for my house. I asked her "Are you asking for personal reasons or business reasons?" Answer: Business. With some prodding, she related that Polk was very aware of the misreporting of property sales in S-bag because most of them were unbrokered by real estate agents. Many exchanges are by quitclaim deed and that is a fee of $100 rather than an ad valorem tax. What this means to Polk is "missed tax revenue" because Baggers are obligated to report an accurate purchase price and pay taxes on that. Instead, Baggers are exchanging quitclaim deeds and bypassing the tax.

Polk Count is compiling information about asking prices as a comparative tool to "catch" mis-reported sales prices. If you are listing your home for sale in your yard, you might be getting a phone call like I did. Yes, they are riding around looking for "For Sale" signs and calling the numbers on the sign!

So, the caution is: report the REAL purchase price and pay the tax owed or Polk might come knockin' on your door with their hand out!

Last Edit: May 28, 2016 21:36:42 GMT -5 by Admin

"Life begins at the end of your comfort zone". --Walsch

Dick Tracy God/Goddess Come to the......."DARK SIDE" we have cookies Posts: 787	S-bag Sales 2015-2016 May 28, 2016 22:42:07 GMT -5 Select Post Deselect Post Link to Post Member Give Gift Back to Top Post by Dick Tracy on May 28, 2016 22:42:07 GMT -5 Question, what information is the seller obligated to disclose to the buyer? If information is not shared with the buyer, can the buyer come back at some point in time, and S u e the owner? 16RC

jimherbst
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Posts: 171

S-bag Sales 2015-2016 May 29, 2016 9:26:03 GMT -5

Post by jimherbst on May 29, 2016 9:26:03 GMT -5

Most states have a provision known as a "doomage assessment". If the local assessor suspects that a businessperson is under-reporting his/her personal property, the assessor may hit the owner with a ridiculously high assessment. The idea is that this will give the owner incentive to accurately report his/her taxable personal property. I've never heard of the use of a doomage assessment on real property but that could be interesting...

Admin
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"You don't achieve harmony by everyone singing the same note" - Doug Loyd

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S-bag Sales 2015-2016 May 29, 2016 9:46:05 GMT -5

Post by Admin on May 29, 2016 9:46:05 GMT -5

Dick Tracy posted:

Question, what information is the seller obligated to disclose to the buyer? If information is not shared with the buyer, can the buyer come back at some point in time, and S u e the owner?

As a former real estate salesperson in FL, I can say with certainty: "Possibly Yes".

Sellers have a greater obligation to disclose, in general, about all material conditions of the property. If the toilet leaks when it flushes (a condition not readily observable by a Buyer)--the Seller must disclose! If Seller fails to disclose and it results in provable harm or loss to the Buyer, the Buyer can S u e for fraud and collect damages (among other things).

Real estate agents generally require a written Seller Disclosure to protect their licenses, but Buyers acting without agent services/protections are on their own and are essentially buying "as is".

Longer answer is that both buyer and seller are well aware of the purchase price and are not excused from complying with US laws on exchange of real property. BOTH are aware that cars and houses and such are taxed on "value" when exchanged. Virtually everything you buy is taxed on its value/purchase price!

It takes TWO cheaters to bypass the tax obligation.

"Life begins at the end of your comfort zone". --Walsch

Admin
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"You don't achieve harmony by everyone singing the same note" - Doug Loyd

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S-bag Sales 2015-2016 May 29, 2016 9:59:59 GMT -5

Post by Admin on May 29, 2016 9:59:59 GMT -5

jimherbst posted:

Most states have a provision known as a "doomage assessment". If the local assessor suspects that a businessperson is under-reporting his/her personal property, the assessor may hit the owner with a ridiculously high assessment. The idea is that this will give the owner incentive to accurately report his/her taxable personal property. I've never heard of the use of a doomage assessment on real property but that could be interesting...

This was actually discussed. Florida has laws applicable to "underreporting or inadequacy". Sigh...as usual, Florida has no clear definition of what those words mean... The property appraiser said that this was a very difficult, expensive and unreliable process so they had decided to approach the problem "to urge voluntary compliance" on the back end of a suspected underreporting transaction and hope that the practice would eventually "self-correct".

JudgeOpinionDoomage.pdf (5.67 KB)

Last Edit: May 29, 2016 10:01:56 GMT -5 by Admin

"Life begins at the end of your comfort zone". --Walsch

Dick Tracy God/Goddess Come to the......."DARK SIDE" we have cookies Posts: 787	S-bag Sales 2015-2016 May 29, 2016 15:38:12 GMT -5 Select Post Deselect Post Link to Post Member Give Gift Back to Top Post by Dick Tracy on May 29, 2016 15:38:12 GMT -5 I was thinking more about seller disclosing: Pending Litigation, Revite Status, Commercial Lots, Dwelling placed properly on lot, Financial status of SLohA, Covenents, Rules & Regulations. Flood Zone? Thanks, 16RC

Admin
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"You don't achieve harmony by everyone singing the same note" - Doug Loyd

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S-bag Sales 2015-2016 May 29, 2016 18:56:38 GMT -5

Post by Admin on May 29, 2016 18:56:38 GMT -5

Dick Tracy posted:

I was thinking more about seller disclosing: Pending Litigation, Revite Status, Commercial Lots, Dwelling placed properly on lot, Financial status of SLohA, Covenents, Rules & Regulations. Flood Zone?

That's a very complicated order in S-bag! Generally, if a buyer cannot see on a visual inspection things that potentially or actually impact the value/purchase price of the property, the burden is on the Seller to disclose.

Disclosure has two paths; one is what the FSBO (For Sale By Owner) owner "should" follow and the other is what the licensed real estate professional must follow.

Not utilizing a real estate brokerage does not relieve the Owner/Seller of the duty to disclose what is known about the condition or desirability of the property as affects its value. "As-Is" sale is not a free lunch for thrifty Sellers! "As-Is" sales must still be disclosed as to property condition to avoid future legal problems.

Because my home is for sale, I was advised by my attorney that I must disclose pending litigation, covenant expiration and revitalization status, the land use modification change affecting my property, the existence of outside commercial activity on common property, SLohA financials, legal dispute over existence of Covenants and R & R. I must do this in writing and have the Buyer(s) sign acknowledgement to protect myself. Attorney suggested that the timing was "fluid" as to when to disclose, but generally would not be the initial visit. Real estate agents provide Buyers with the Sellers Disclosure when the offer is tendered and Buyer has a period of time to back out.

If I am in possession of knowledge about a flood issue or dwelling placement on the lot, I must disclose that "something" and let the Buyer follow up if they want more information.

An example of flood would be "My home was flooded in 2004". The Buyer can then hire a home inspection professional to assess if there is any (invisible) long term water damage to the structure.

An example of property encroachment would be "I did not acquire a property survey before I bought my property but the Manager told me that my shed was encroaching into the property setback". The buyer would then be on notice to followup the proper placement of the structure within county guidelines.

A Reasonable thing for Sellers to do if they do not want to involve a real estate agent is to go online and download a real estate Seller Disclosure Form to use as a guide. A Better Thing is to Disclose everything in writing! A Wicked Smart Thing is to get an attorney involved in any transaction in S-bag!

"Life begins at the end of your comfort zone". --Walsch

Dick Tracy
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S-bag Sales 2015-2016 May 29, 2016 21:30:40 GMT -5

Post by Dick Tracy on May 29, 2016 21:30:40 GMT -5

May 29, 2016 18:56:38 GMT -5 Admin said:

A Wicked Smart Thing is to get an attorney involved in any transaction in S-bag!

I think The Wicked Smart Thing is ''Right-On" !

Also, a house location on the lot may save all from headaches down the road.....

16RC

Lra
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Freeing one's self from the injustices of an irrational manager and Board is freeing to the spirit.

Posts: 221

S-bag Sales 2015-2016 Dec 23, 2016 7:40:32 GMT -5

Post by Lra on Dec 23, 2016 7:40:32 GMT -5

Dear S-bag residents,

Please give a warm welcome to the new proud owners of 66 Silversides. Gary and Joanne Arbring from Massachusetts. Joanne is the daughter of Bb and Polly Verrier, long time residents in S-bag Lake Resort.
The sale of 66 Silversides went smoothly and the new owners are excited to own one of the finest homes in the Resort. We wish them well.

Admin
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"You don't achieve harmony by everyone singing the same note" - Doug Loyd

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S-bag Sales 2015-2016 Dec 23, 2016 12:07:25 GMT -5

Post by Admin on Dec 23, 2016 12:07:25 GMT -5

This is bittersweet news. On the one hand, the Arbring's are likely excited about opening a new chapter in their lives and in this home in S-bag---much like YOU were back in 2014 when you built your beautiful new home! On the other sad side, this marks the end of a disastrous experience which has demoralized the entire community and devastated your lives in indescribable and lasting ways.

I hope that this passage of your home to another helps you begin to heal the financial, physical and spiritual injuries that you have experienced by the horrific acts of this SLohA and its agents against your family. Of all the despicable acts of HOA's nationwide that are routinely reported, this page in S-bag history is one of the most vicious and damaging to spirit that I have ever heard of.

Wherever you choose to live in the future, you will always remain close to my heart as true friends and fellow warriors in the journey for truth and justice.

"Life begins at the end of your comfort zone". --Walsch

Dick Tracy God/Goddess Come to the......."DARK SIDE" we have cookies Posts: 787	S-bag Sales 2015-2016 Dec 23, 2016 22:40:51 GMT -5 Select Post Deselect Post Link to Post Member Give Gift Back to Top Post by Dick Tracy on Dec 23, 2016 22:40:51 GMT -5 It is Just So Sad and UN-Fair, To All.... But what goes around will come back one day and haunt the culprits. 16RC

jimherbst Addict Posts: 171	S-bag Sales 2015-2016 Dec 24, 2016 12:20:55 GMT -5 Select Post Deselect Post Link to Post Member Give Gift Back to Top Post by jimherbst on Dec 24, 2016 12:20:55 GMT -5 Amen! Whenever things look their worst, I recall an old proverb: "In the end, the universe tends to unfold as it should"

Admin
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"You don't achieve harmony by everyone singing the same note" - Doug Loyd

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S-bag Sales 2015-2016 Dec 24, 2016 12:51:09 GMT -5

Post by Admin on Dec 24, 2016 12:51:09 GMT -5

A short review of the detail of the market transactions for the last month of sales activity in S-bag has uncovered two unusual and interesting facts:

1- Almost all of the transactions were handled by either a Title Company or an attorney,

2- One of the sales has a VA guaranteed mortgage held by Wills Fargone Bank NA.

#2 is fascinating because of the legal and financial hoops one must jump through to get a mortgage on any home these days-- much less a 12-year old used manufactured home in a supposed deed-restricted community that currently has no declared authority over the common properties! The really interesting fact is the bank accepted that S-bag IS a deed-restricted community apparently without validation of its current status. The fact is that the Covenants are not yet revitalized and do not and did not exist at the time the mortgage was executed.

The other interesting aspect is that S-bag now has a third party to deal with and make legal notifications to because the bank holds a secured interest in not only the private property but also the common properties and facilities of the S-bag PUD (Planned Unit Development).

"Life begins at the end of your comfort zone". --Walsch

Post by Admin on May 28, 2016 21:35:45 GMT -5

Post by Dick Tracy on May 28, 2016 22:42:07 GMT -5

Post by jimherbst on May 29, 2016 9:26:03 GMT -5

Post by Admin on May 29, 2016 9:46:05 GMT -5

Post by Admin on May 29, 2016 9:59:59 GMT -5

Post by Dick Tracy on May 29, 2016 15:38:12 GMT -5

Post by Admin on May 29, 2016 18:56:38 GMT -5

Post by Dick Tracy on May 29, 2016 21:30:40 GMT -5

Post by Lra on Dec 23, 2016 7:40:32 GMT -5

Post by Admin on Dec 23, 2016 12:07:25 GMT -5

Post by Dick Tracy on Dec 23, 2016 22:40:51 GMT -5

Post by jimherbst on Dec 24, 2016 12:20:55 GMT -5

Post by Admin on Dec 24, 2016 12:51:09 GMT -5