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Thursday, April 12, 2012

Indian River Colony Club in Viera (IRCC) - Market Trend and Homes For Sale April 2012

Twenty properties have sold Indian River Colony Club sold since October 1, 2011 (through 04/11/12).  Still, anyone looking to buy a home in the Indian River Colony Club in Viera, there are still plenty of choices

As of today there are about 70 homes for sale within the gates of IRCC.   List prices for these proeprties range from a low of $51,900 to a high of $299,000.  The highest priced home is about $75,000 higher than the next highest priced home for sale and is not the norm for the IRCC market where all but three of the homes for sale are priced below $200,000.

Selling prices for homes sold during the past six months range from $55,000 to $162,000 with more than half of the homes selling for less than $100,000.

All of the homes sold were built between 1989 and 1995 with most being constructed around 1990.  Only three were foreclosures at the time of sale.

Although Indian River Colony Club is an active 55+ community it is different in that it is a Florida chartered not-for-profit corporation.  Its membership includes 80% former military officers and 20% “other.”

Just some of IRCC's amenities include a clubhouse, golf course with pro shop, tennis and pools.  Also do not forget IRCC offer a 24 hour staffed gated entry.

Monthly fees at IRCC are based on the floor plan of the home.   The monthly fees include club membership including monthly food/beverage minimums, IRCC management, and cable TV.
The monthly fee also covers all appliances, inside maintenance, water heater, AC, painting and pressure washing.   Also included are lawn care, tree trimming and sprinkler system maintenance.

Key Point:  The monthly fees are higher compared to the other 55+ communities within Viera primarily because IRCC is resident owned entirely and is a total maintenance community.

If you are considering a purchase in one of Viera's 55+ communities be sure to take your real estate agent with you the first time you visit IRCC as they have an onsite company representing sellers - not buyers.   You should be represented by your own agent.  


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