Thinking of investing in Bella Collina, Florida? READ THIS
I’m a resident of Bella Collina in Florida and I’m not a real estate expert. This is what I see:
This screenshot taken from the official Lake County Property Appraiser and it reads that a bunch of lots sold for $3.75 million in 2012 and have a value of $75,000 in 2019. It means that the buyer has lost (roughly numbers) $3.75 million + heavy taxes + $1.5 million loss (based on 35% to 40% loss in money value over 7 years assuming 5% annual interest rate) + about 35,000 in club dues and other heavy Bella Collina community fees.
My very rough math shows that is Bella Collina property bought in 2012 for $3.75 and sold it (or it has a value change) in 2019 for $75,000 or $200,000 he/she have lost about $5 million. WOW.
I personally have lost about 10% on my house in a couple of months according to Zillow. This banner was prepared sooner when the loss was “only” 7.2%
I blame DCS REAL ESTATE INVESTMENTS and Dwight Schar for his bad management employing people like Paul Simonson and maintenance guy like Randall Greene.