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Friday, March 03, 2017

Indian River Colony Club (IRCC) in Viera, Florida - 55+ Community - Market Report March 2017

Indian River Colony Club is a gated 55+ community located in central Florida's planned unit development of Viera (just north of Melbourne, FL).  Actually, its more of a country club and a lifestyle than a development. 

IRCC was founded in 1986 as a not-for-profit corporation as a retirement destination for military offers.  

Over the the years since its inception, Indian River Colony Club has evolved into a more inclusive, as well as exclusive, retirement community with membership expanded to all former military and 20% non-military veterans.  
 
All homes are individually owned with no rental properties allowed so residents know their neighbors are permanent.
 
A few interesting points about Indian River Colony Club:

  • The IRCC corporation is debt free;
  • Amenities are owned by residents including golf course, club house, multi-use buildings, pro shop, tennis courts, swimming pool and more; 
  • Home prices are less than those in other Viera 55+ communities (Heritage Isle, Grand Isle);
  • The Board of Directors, elected by the residents, determine fees and provide oversight for all activities within the gates including the professional onsite management;
  • Household maintenance (more specifics below) are covered by the monthly maintenance fee;
  • Typical of style
  • Monthly fee also covers club membership, amenities, full time on site security including 24 hour guard monitored entry, security cameras at all entrances, visitor management as well as security patrols inside community.
What will you find at Indian River Colony Club in Viera?

  • Multiple housing options. There are eighteen floor plans including two new plans for 2016 (Trenton 3BR/2BA/2 Car Garage/Cart Garage, 1,735 sq.ft.), (Augusta, 3BR/3BA/2 Car Garage/Cart Garage, 2,111 sq.ft.), a half duplex floor plan, and fifteen others with square footage ranging from just over 1,000 sq.ft. to about 3,000 sq.ft. under air.
  • Activity groups and clubs.  More than 40 of them including: Art, Bridge, Bowling, Bingo, Chorus, Ham Radio, Crafts, Investment, IRCC Foundation, Masons, Yoga, Tennis, Line dancing, Step & Stretch, Computer Club, Players Theater Group, Aquatics and more. Green space, wildlife and lakes (28) with houses spread throughout the 453 acre community. 
  • Secure environment.  Gated entry manned 24 hours with security which also patrols the community.
  • RV and boat storage area.  There are even four spaces for guest hookups.
  • Colony Hall which is a state of the newly renovated facility which offers the perfect setting for special occasions (available for public rental as well). There is a bridal room, dance floor, full stage, chapel and more.
  • At Ease Club. Executive chef, staffed for dining and private parties.
  • Tennis courts (3), Bocce, shuffleboard.
  • 3,000 sq.ft. heated swimming pool.
  • Fitness center.
  • Professional staff and management who know the residents and go above and beyond to help them (repeating what I have heard residents say!) 18 hole par 72 golf course with pro shop, 2 practice putting greens and practice bunkers.
  • Involved homeowners.   Residents own this debt free community and take their responsibility as owners serious.
  • Private country club.  Indian River Colony Club is an exclusive private country club with membership comprised only of 100% home owners!
  • Repairs, routine and urgent service repairs (leaks, AC, plumbing) only a phone call away with maintenance staff on duty 10 hours a day (on call for emergencies).
  • Housekeeping and pool service programs also available. 

What is currently for sale at IRCC?

Currently twenty six active listings in the Indian River Colony Club gated 55+ community.   List prices range from $125,000 to $320,000.  All of these listings are standard sales except for one short sale (lowest list price). 

Seventeen of listings are pried at $190,000 or less.  Most are three or four bedroom constructed early 1990s. There is only one home priced above $268,000 and it happens to be a new construction concrete block construction home (rare in IRCC). Average list prices are in the $170-180,000 range.

What has recently sold in Indian River Colony Club?

Over the past six months there have been twenty six homes sold in Indian River Colony Club.  Selling prices ranged from $115,000 to $290,000.  All of these sales were standard sales.

More recent sales in IRCC (from February 1, 2017) includes these four properties:
  • 1308 Pilgrim Avenue - 3 bedroom 2 bath 2 car garage, 1988 built, 1179 sq.ft. with golf course frontage and water view sold for $115,000.
  • 1513 Chesapeake Court - 2 bedroom 2 bath 2 car garage, 1994 built, 1442 sq.ft. with private pool and water view sold for $120,000
  • 1348 Independence Avenue - 3 bedroom 2 bath 2 car garage, 1989 built, 2028 sq.ft. located on third fairway sold for $147,500
  • 1509 Pioneer Drive -  3 bedroom 2 bath 2 car garage, 1990 built, fireplace, 1990 sq.ft.  with water and golf views sold for $148,500
For information on Indian River Colony Club in Viera, Florida call or text me at 321-693-3850.

agent@moving2brevard.com
Gary L Waters
Florida Licensed Real Estate Broker
LT MSC USN (retired)

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