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Editor Pasco Naturally ared the data with
Pasco Naturally. I reported on the sales I was able to pull up from
Mike Wells Tax Assessors website which reflected properties that had
sold at Caliente, City Retreat, Florida Naturist Park, Paradise
Lakes, Paradise Pines and The Oasis. The total revenue from January
1st 2007 – March 31st 2008 was an astounding $19,033,400. It
appeared our naturist communities had not yet experienced the
decline in sales as did other neighborhoods in the area.
Paradise Lakes had sales totaling $11,522,100,
Caliente $5,312,800, The Oasis $995,000, Paradise Pines $706,000,
Florida Naturist Park $296,500, and City Retreat $201,000.
Those sales reflected the ongoing trend that
real estate in naturist communities brought a much higher premium
than similar real estate in the textile world. People ventured to
get away from the stresses of the real world by retreating to our
naturist communities for relaxation and rejuvenation. Our
communities were named after pleasant blissful states of mind, think
of the names given and what they mean “Paradise”, “The OASIS”,
“Caliente”, “City Retreat”, “Florida Naturist Park”, “The Island
Group”. Nudists have
always understood the value of shedding stress by disrobing and
relaxing in the sun; however in these hard economic times stress has
filtered into our local naturist communities and clubs. Nudists have
felt the crunch caused by the economy. We witnessed accelerating gas
prices, the mortgage market meltdown, the crashing of the stock
market, hurricane threats, rising insurance premiums, jobs lost,
tourism down at our clubs, and the decline of property values in our
subdivisions. Some of our friends through extreme hardship have even
lost their homes to foreclosure.
When times get tough some people are faced with
making a hard decision to sell a secondary home or vacation home .
This can and did happen in our naturist communities causing a
surplus of property for sale at our resort destinations. Also
devastating to our market was the drastic decline in property values
in textile communities surrounding our naturist communities in 2009.
This made an impact on real estate sales in our naturist
communities. With rock bottom prices on bank owned properties and
short sales within minutes of our clubs’ prospective buyers were
seduced by these opportunities to purchase on the outside.
Another blow we faced was the changes in
lending procedures and requirements from the Buyers to provide more
money down. With the real estate market being suppressed in much of
the country many prospective buyers ready to move here were forced
to stay put because their homes had not sold. Even worse with the
decline in property values across the U.S. some sellers found that
they might have little to no proceeds from the sale of their home to
use as a down payment on a Florida home. Some sellers were forced to
pull their homes off the market and stay put because their property
values had declined so much the homes were actually worth less than
what they owed. To top it off many banks have withdrawn from lending
money on condo’s in the state of Florida and other lenders have
blighted us by stating that they cannot lend in communities that are
“Uniquely Restricted Communities”.
So will our naturist communities recover? You
Betcha!
The Good News...
Despite the lower gross sales in Pasco
County over 70 properties in 6 naturist communities closed in
2009. The prices of real estate has come down considerably so
that has an impact on gross revenue but the tally below shows
buyer confidence is still among us. Here is the 2009 tally used
from sales statics including the following communities:
Caliente, City Retreat, Florida Naturist Park, Paradise Lakes,
Paradise Pines and The Woods.
24 Condo’s closed despite the news that
many banks were not financing condo’s.
22 Manufactured, mobile homes and trailers
sold. 18 Lots for
RV Use or park models.
5 Lots for Single Family Homes or Mobile
Homes 1 Single
Family Home
There may actually be a few more properties
that closed in December that have yet to be recorded with the
county. Lake Como and Lake Linda were not included in this
tally because they own shares instead of land and sales within those
communities are not readily accessible on the tax site. I am
thankful to see these sales in a slowed economy this reflects
Buyers’ are interested in our “Uniquely Restricted Naturist
Communities” People
are still hungry for peace and tranquility, a place in the sun with
a warmer climate, a community for outdoor recreation and sports
activities, a lively place to be among friends, and a place to
decompress and get away from the chaos of the world. Prospective
buyers are having to re-think how they can manage to make things
work. Some buyers have opt to take a lesser amount on their home up
North thinking they can recoup their loss by buying low in Florida.
Buyers may also find themselves searching for a property in a lower
price range or have decided to forego a larger, fancier place for
something more economical. For others pursuing owner financing has
been the method for purchasing in our communities. We have also
seen Sellers granting Buyers a one to two year lease with a signed
purchase agreement so the Buyer can save the down payment necessary
to get financing. Buyers are also coming forward with handsome down
payments and requesting owner financing for 3 to 5 years with a
balloon payment due. Of course we can’t forget those fortunate
enough to come to the closing with cash.
There are lenders still financing in naturist
communities. If you or someone you know is having problems with a
lender that says they won’t lend in our communities because the
property is “Uniquely Restricted” contact a Realtor or sales
associate who specializes in selling in naturist communities. These
real estate professionals will be able to guide you or your friend
in the right direction. One thing we must be prepared for is
that lenders will request an appraisal be done, if the offer is much
higher than the appraised value the bank may turn down the loan or
ask that you come up with the difference at closing toward the down
payment. Although
our resort communities have been vulnerable like the rest of the
market I think we will recover more readily because people truly
want to live in peace and harmony.
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