Covered Bridge Estates more than likely will not have this problem since the New Owners Orientation and Renters Approval was passed by our HOA last month. I know most of the agents working with the Hedge funds and investment groups and they are putting quality people into their homes in CBE. As long as we keep a vigilant eye on what’s happening and our Community Manager does her job, we will be in good shape.
Peter J. Poe-Poe & Associates Realty, Llc
Homeowners dismayed as property investors bring in renters
PALM BEACH, Fla. – May 2, 2013 – The fragile sense of community in homeowner Bryan Melzard’s neighborhood – the impromptu chats on the sidewalk, shared gripes about overzealous condo commandos – is fading.More renters are moving into his Greenacres, Fla., development of about 100 homes, filling investor-owned properties bought at foreclosure fire-sale prices with cash on hand and dreams of big returns. The conversion has meant regular U-haul sightings on the 30th of each month and anonymous neighbors with fewer scruples about loud music.
Many of you have asked me “how can investors buy homes in Covered Bridge Estates at auction and the bank still have a mortgage on the property and the investor(buyer) rent it out. Well here is your answer. This is what is happening in Covered Bridge and our community will NOT be the better for it.
FORT LAUDERDALE, Fla. – Feb. 18, 2013 – South Florida real estate investors are buying titles to homes on the cheap through community association foreclosures then renting them out until the bank catches up.
It’s the latest tactic aimed at capitalizing on South Florida’s quagmire of vacant and foreclosed homes.
And since banks – the primary lien holder on the homes – sometimes take years to foreclose, the strategy could offer the investor a hefty return. Homeowner association foreclosures are usually based on unpaid dues, with judgments far less than what is owed on the mortgage. A savvy investor can pick up a home for a few thousand dollars from an association foreclosure auction and make that money back in several months’ worth of rent.
If I caught your interested and you want to read more Click HERE…
New Development next to Covered Bridge Estates..For those of you who stayed home for Halloween and did not make the Board meeting here is some of what happened.. The Board approved a Resolution 10-01-2012 dealing with a new development planned west of Covered Bridge Estates and East of I-75 and North of Mendoza Rd. To read more about this please click HERE…
This new development is being done by Trees Direct LLC a company owned by Trey Desenberg the developer of Covered Bridge Estates. He has requested a rezoning hearing on November 8th at 9am infront of the Manatee County Planning Commission located at 1112 Manatee Ave W. Bradenton. for more information about the meeting and this project you can contact Stephanie Moreland, the county Planner for the Community Planning Division 941-749-3070 ext 3880 or Stephanie.Moreland@mymanatee.org
It has been rumored that he wants to put in 500 multifamily units across from Tuscany Lakes Apartments. He will extend 60th a very short distance next to Oak Creek gated community as the one and only entrance and exit for 14 buildings and 5600 units. He would like Covered Bridge to allow a gate at either New Paris Way or Broad River Run for emergency vehicles if his extension is congested or blocked. To say this would impact our community would be an understatement. The Board seems to be ontop of this and I will keep you updated when I know more.
Peter J. Poe
Covered Bridge Estates home values will start to increase once we eliminate Short Sales and Foreclosures. You will be receiving my Covered Bridges Estates Newsletter by the end of the month. It contains some good news that we have been waiting for, but I suggest we be optimistically cautious before we start to party. I recommend you read the “Trent Analysis of the Florida Real Estate Market and Florida Realtors Residential Price Index”. It also include a great analysis of “The Distressed Property Market and Shadow Inventory in Florida” To read more Click Here…
Bleach can be used to clean your driveway according to the Florida DEP.
For those of you who were unable to attend the Board meeting yesterday afternoon; I wanted to clear up a misconception that one of our residents and Board members believe to be a fact of Law. I was told at the meeting that it is “against the Law to use Bleach on your driveway” to clean mold and mildew. I did not want to push the issue at the Board meeting, as there are more important issues to deal with in our Community. This morning I called the Florida DEP and spoke with Joni Scott with the Public Service and General Information Department. Joni advised me that “the DEP has no position on the use of Bleach to clean driveway as there is NO LAW. Since I only spoke to one individual from the State of Florida DEP to verify this fact, I ask those who think it is against the Law to please provide me with the Florida Statue where this appears. In my humble opinion. I suggest that we all be more informed before passing on misinformation. If you don’t like to use bleach try “Spray & Forget” you can purchase it at Home Depot in the lumber department, 1 gallon cost about $40.00. here is there website http://www.sprayandforget.com/
The Board meeting was very informative regarding a new home builder, Highland Homes. Highland has purchased 16 homesites on Halls Mill Xing and will start building in the near future. Jim Hegemier the chairman of the Architectural and Modification committee passed on some great information regarding the new home builder and the model they will be constructing. The new homes will be starting from the $150′s according to their website. This will be a nice addition to our community and hopefully the re-birth of new home construction here in CBE.
click on the link for more information about Highland Homes.http://www.highlandhomes.org/community.php?cid=102
Here is the link for their site map of the lots they will be building on http://www.highlandhomes.org/images/homes/siteplans/102.pdf
I encourage all residents to get more involved and go to the Board meetings. Without your support and ideas will be not grow as a community and become stagnant.
Feel free to leave your comments and suggestion.
Peter J. Poe