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Tuesday, November 15, 2011

Indian River Colony Club (IRCC) in Viera–Not your “usual” 55+ community - Market Activity in November 2011

55+ communities come with varying degrees of "maintenance free" services in the Viera and Brevard County Florida area.

In some Viera 55+ communities such as Heritage Isle the maintenance provided is exterior... i.e. yard, plants, landscaping and the like.

Some folks are willing to maintain their private residence - they just don't want yard work.  Of course, there is a concierge service at Heritage Isle where residents can easily get "handyman" help for a reasonable charge.

Now, consider Indian River Colony Club in Viera.   Founded in 1986 for former or serving officers of any U.S. uniformed service, this community's monthly maintenance fee is quite a bit higher than communities such as Heritage Isle and Grand Isle (both newer and also in Viera).

But, this fee is for total maintenance including roofing, appliances, pest control, painting, lawn care, pressure washing and the like.  I checked this morning and was told the monthly fees run roughly $580 to $880 depending on the size/sq.ft. of house.  Additionally, monthly fee for golf and tennis is approximately $400 (voluntary).

The monthly fees, although they are considered steep by comparison to other communities, cover many amenities and services including the peace of mind that comes with the 24 hour manned gated entry.

By the way, Heritage Isle was named one of the 50 best master planned communities in 2011 by Where to Retire magazine! 

As of today there are fifty active listings in Indian River Colony Club.

Listing price for these active listings range from a low of $81,500 to a high of $349,000 ($130K higher than the next highest priced).  Most (70%) of the homes listed are under $150,000.

Most of the homes for sale in Indian River Colony Club were built between 1988 and 1990, are wood frame construction with stucco exteriors and have two car garages.

Currently there is only one home under contract in IRCC.

Homes do sell a bit slow in IRCC with only five proeprties closing since September 1, 2011.  These included:
  • 1639 Frontier Dr. - A 3BR/2Ba/2 car garage with 2011 sq.ft. sold for $129,000
  • 1049 Ironsides Ave - A 2 BR/2Ba/2 car garage with 1616 sq.ft. sold for $65,000
  • 1279 Continental Ave. - A 3BR/2.5Ba/2 car garage with 2368 sq.ft. sold for $134,000
  • 1084 Ironsides Ave. - A 2BR/2Ba/2 car garage with 1616 sq.ft. sold for $87,000
  • 1554 Frontier Dr. - A 2 BR/2Ba/2 car garage with 1642 sq.ft. sold for $90,000

One thing about all of these sales - all were cash transactions.

If you are considering a purchase in Indian River Colony Club there are on site real estate agents who represent the sellers.  Please have your own real estate agent accompany you with your initial visit to Indian River Colony Club.  It does not cost you, the buyer, anything.

If you do not have a Realtor®, call me at 321-693-3850 or email me, please.

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