Victoria Falls Market Watch – Spring Edition 2014

Victoria Falls Market Watch – Spring Edition 2014 is an update on the housing market in this exclusive 55+ Retirement Community. We want to apprise VF residents, visitors, potential sellers and buyers, and other interested parties on the sales inventory of properties within the VF community. Over the last couple of weeks we have seen an increase in the number of villa style properties listed for sale.

In the last six months, a total of six villa style homes sold in the range of $236,500 for a three bedroom
Craftstar Villa Townhouse to $380,000 for a four bedroom Drees Villa style home. Currently, there are five Villa style Townhouses are for sale ranging from a two bedroom, two full bath, bank owned (Real Estate/Owned) townhouse priced at $239,900. And, four Townhouse/Villa style homes priced approximately from $349,900 for a three bedroom, three full bath Craftsman model to $389,900 for a three bedroom two full bath Villa style Townhouse Colonial.

For more space – There are two spacious detached Michael Harris (MH) homes both with four bedrooms and three full baths listed at $399,900 and $415,000 respectively.

Currently, there are two available condominiums on the market priced from a low list price of $169,900 to $269,900. The VF condo units were designed with an open floor plan, two bedrooms and two full baths. The most recent condo sale occurred on February 21, 2014 for $200,000! As of this drafting of Victoria Falls market watch Spring 2014, there are two condos under contract. One condo unit contract status is listed as Contingency with No Kick-Out clause and the other with a Kick-Out clause.

A Kick-out clause protects the seller in the event a more attractive offer is presented to the seller prior to closing. If a contract is presented and accepted by the seller, the seller have the authority to kick-out the original contract and/or advise the buyer that they must remove the Contingency to avoid a possible Kick-Out.The original buyers must agree to remove the Contingency clause and proceed to closing within a designated number of days or the kick-out clause will kick-in….. The time frame for the buyer’s reply to a kick-out is normally forty-eight hours unless mutually agreed upon by all parties or in a transaction where the original buyer remove the kick-out clause sooner rather than later!