Yep Villiages @Sycamore Creek, i live on SYC st (the divided road). I built my house in the summer of 01. So I've been here awhile.
Currently there is 1 HUD home located @ 465 Carver st. There have been about a total of 4 HUD homes that i know of in the past 1 1/2 yrs. Others have been forclosed on but have since been sold as rentals or ownership. I just drove the neighborhood this past weekend and noticed 9 vacant homes.
As far as home sales i'm not up to date on it but last i checked no home has resold for above the purchase price. I know for a fact that 4 homes very close to me have sold for 30k less than the purchase price. It just comes down to people not understanding their payments. I know some homes have sold for as low as the $130's.
Don't get me wrong i'm not saying it's a bad place to live, but like someone else said be prepared to live here a good 8-10 yrs to see any chance at an investment. That was my thought going in when i had mine built. 5-7 years and i'm out. Unfortunately the forcloseures and HUD homes are not helping what i thought would be a nice chance for a return on my money. I've put probally 15K + into my house since i purchased it and i'll be lucky to get my payoff.
As for the Homeowner's ass: it was in my contract that the dues would be $200/ yr and it has increased $150 in 4 1/2 yrs, another lie that was told to us. Alot of homeowners in here have issues w/ the assocation not doing what needs to be done.
I hope your right w/ the new school being built that it will help our home value.
If theirs one piece of advice that i can give ya on building a hose w/ MI is to check and double check their work. IF YOU DON'T LIKE SOMETHING MAKE THEM FIX IT! Cause once you've closed it's hard to get them out to do much of anything.
Like i said i don't mean to steer you away from your purchase but just trying to make you aware of things that i wish i knew before i built. Go talk w/ people in the neighorhood and ask them some questions.