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Monday, September 16, 2013

55+ Communities in Viera - Indian River Colony Club (September 2013 Market Activity)

There are three 55+ communities in Viera, Florida  (Melbourne, Florida) - Heritage Isle, Grand Isle and the Indian River Colony Club.  This article focuses on the latter, Indian River Colony Club and what is currently for sale and recently sold in the community.

Indian River Colony Club (IRCC) is a gated community founded in 1986 whose membership is composed of 80% former military officers and 20% others.  It is a not-for-profit membership owned corporation providing fitness center, golf course, tennis and much more.

One of IRCC's most attractive features is it is totally maintenance free with inside and outside maintenance provided.  Unlike the other two communities with fees around $250-$300 per month , IRCC maintenance fees are based on floor plan.  Also, unlike the others, there is a "buy in fee" as part of the purchase process.  I recently had a client tell me it was somewhere in the neighborhood of $11,000 although I have not verified this fee lately.

These fees are in the ballpark of $600-$900 a month but need to be verified as part of the purchase process. Additionally, there are optional monthly fees for golf and tennis which can be around $300 or so a month. The monthly fees, although steep by comparison to other communities, cover many amenities and services and do not represent an apples to apples comparison

Currently there are 49 active listings within Indian River Colony Club as of September 16, 2013.   List prices range from a low of $85,000 to $270,000.  This price range can be misleading as most homes in IRCC are very reasonably priced with about 30 of these listed at or below $138,000.

Over the past six months there have been 36 homes sold within IRCC.  Selling prices ranged from $65,000 to $210,000.   Fifteen of these homes sold for less than $100,000.  Again, very affordable home prices.

If you are considering a move to a Florida 55+ community, take a look at these short articles.

Choosing a 55+ community in Florida's Viera 
Indian River Colony Club - A different 55+ Community
Maintenance Free Living in Viera, Florida
55+ Communities in Brevard County, Florida

For information on 55+ communities in Florida, call me at 321-693-3850 or send me an email.  55+ community living does not mean downsizing and living in a small cottage.... 55+ Community Living Does Not Mean Living in a Box!

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