115 Via Villagio, Hypoluxo, FL 33462

Here’s a detailed analysis of the property at 115 Via Villagio, Hypoluxo, FL 33462, focusing on its refinancing potential:

Property Snapshot:

• Address: 115 Via Villagio, Hypoluxo, FL 33462
• Property Type: Townhouse
• Estimated Value: Your input: $556,100. Zillow’s Zestimate is consistent at $556,100. Redfin’s estimate for nearby 115 Via Villagio #115 (likely the same property or a similar unit) is around $549,739. This consistency is good, but a professional appraisal is essential to confirm the precise current market value for lending purposes.
• Size: 1,990 sqft, 3 beds, 2 baths (some sources indicate 2.5 baths, which is common for townhouses).
• Built: 2006 (At 19 years old, this is relatively new for Florida standards and a positive for insurance, but a 4-point inspection may still be required as it approaches 20 years).
• Last Sold: Public records indicate a very significant price history:
  • November 6, 2006, for $710,000.
  • June 30, 2009, for $202,500. This was likely a distressed sale (foreclosure or short sale) during the housing market downturn.
  • It is CRITICAL to verify the exact last sale date and price for the current owner to accurately assess their equity. If they purchased at the 2009 price, they have experienced tremendous appreciation.
• Lot Size: Zillow states 2,467 sqft, which is a typical footprint for a townhouse.
• Features: Masonry construction. The community, “Villagio Del Mar” or “Villagio,” is described as a charming Italian Village. Nearby properties mention Barrel Roof Shape (often tile) and a 1-car garage plus 2 driveway spaces. Community amenities often include a pool and spa/hot tub, which would be covered by HOA fees.
• HOA Fees: HIGH AND CRITICAL. This is a significant factor for townhouses. Multiple sources indicate varying but high monthly HOA fees for properties in Via Villagio:
  • Zillow for 115 Via Villagio shows $435 monthly.
  • Homes.com for 110 Via Villagio shows $442 monthly.
  • Ahee Group for 625 Via Villagio shows $850 monthly, including Pool, Spa/Hot Tub.
  • Redfin for 110 Via Villagio shows $442.00 as “HOA/POA/COA,” mandatory, and includes Cable, Common R.E. Tax, Building Insurance, Lawn Care, Exterior Maintenance, Management Fees, Manager, Pest Control, Roof Maintenance, Sewer, Trash Removal, Water.
  • This discrepancy (especially the $850 figure) must be verified through the Villagio Del Mar HOA governing body or property management to accurately assess recurring costs and, importantly, what is included. If building insurance is included, this significantly reduces the homeowner’s individual insurance burden.

Key Financials & Considerations for Refinancing:

• Substantial Equity: Assuming the current owner purchased at or after the 2009 price of $202,500, they have very substantial equity. Even if they bought closer to the 2006 peak and held through the downturn, the current estimated value represents a strong recovery. This makes it an excellent candidate for refinancing.
• Property Taxes: Zillow shows $2,693 paid in taxes in 2024 (approx. $224.42/month) for 115 Via Villagio. Other nearby units show taxes in the $3,770 – $4,330 range. This discrepancy should be verified directly with the Palm Beach County Property Appraiser’s office for 115 Via Villagio. The lower tax amount on Zillow for this specific address could be due to Homestead Exemption if it’s the primary residence.
• Homeowner’s Insurance: CRITICAL, BUT MAY BE COVERED BY HOA. This is where the HOA fee details are paramount.
  • If the “Building Insurance” is included in the HOA fees (as suggested by the Redfin record for 110 Via Villagio, which is likely part of the same association), this means the HOA carries the master policy for the structure, roof, and common areas. The individual homeowner’s insurance policy would then typically only cover the interior (walls-in), personal belongings, and liability. This type of “HO6” policy (for condos/townhouses) is significantly cheaper than a full homeowner’s policy (HO3) for a single-family home.
  • If building insurance is not included, then the individual homeowner is responsible for insuring the structure, which for a $556,100 townhouse in Hypoluxo, built in 2006, with a tile roof (assuming Barrel Roof Shape implies tile), could still be substantial, potentially $2,500 – $4,500+ annually ($200 – $375+ per month), depending on deductibles, wind mitigation, and specific insurer.
  • A 4-point inspection (roof, electrical, plumbing, HVAC) will likely be required for any refinancing and for obtaining individual homeowner’s insurance (even an HO6 policy).
  • It is absolutely imperative to obtain the HOA’s Master Insurance Policy information to understand what it covers, and then obtain multiple, realistic quotes for the remaining coverage the individual homeowner needs.
• Refinance Rates: As of Wednesday, July 23, 2025, current Florida 30-year fixed refinance APRs are averaging around 6.75% to 6.95%. Your specific rate will depend on your credit score, loan-to-value (LTV) ratio, and the lender.
• Closing Costs: Expect to pay between 2% and 5% of the total loan amount in closing costs for a refinance in Florida. For a $400,000 loan, this could be $8,000 to $20,000.

Market Context (Hypoluxo, FL 33462):

• Market Status: The 33462 zip code appears to be a mixed market. Zillow indicates an average Hypoluxo home value is down 7.2% over the past year. Redfin states the 33462 housing market is “not very competitive,” with homes selling for about 6% below list price and taking 98 days to sell. Rocket Mortgage describes Hypoluxo as a “Buyer’s Market,” with median sold prices down 19.3% from a year ago for all home types.
• Local Trends: While the overall market might be softer, townhouses in well-maintained communities with amenities often perform differently than single-family homes or older condos. The “Italian Village” charm and Intracoastal proximity are desirable features.

Recommendations for Refinancing:

1. Define Your Goal: Clearly articulate the primary purpose of refinancing:
   • Lowering Interest Rate/Payment: If your current rate is higher.
   • Cash-Out Refinance: To access significant equity for other investments, home improvements, or debt consolidation.
   • Changing Loan Term: Shortening (e.g., from 30 to 15 years) or lengthening the loan.
2. Verify Exact HOA Fees and Inclusions IMMEDIATELY: This is the most critical step for a townhouse. Contact the Villagio Del Mar HOA (or property management) to:
   • Confirm the exact current monthly (or quarterly) HOA fee for 115 Via Villagio.
   • Obtain a copy of the HOA’s Master Insurance Policy to understand precisely what structural and common area coverage is provided. This will dictate your individual HO6 policy needs.
   • Confirm if any special assessments are planned or outstanding.
3. Verify Current Property Tax Amount: Double-check the 2024 property tax amount directly with the Palm Beach County Property Appraiser’s office for 115 Via Villagio to ensure accurate budgeting.
4. Obtain Multiple Realistic Individual Homeowner’s Insurance Quotes: Based on the HOA’s master policy, obtain quotes for your “walls-in” coverage (HO6 policy), personal property, and liability. If the HOA does not include building insurance, be prepared for much higher premiums for a full HO3 policy.
5. Plan for a 4-Point Inspection: Be prepared for this mandatory inspection. Proactively ensure HVAC, electrical, and plumbing systems are in good working order.
6. Get a Professional Appraisal: This will provide an unbiased and accurate current market value, essential for the loan amount.
7. Review Your Credit Score: A strong credit score (typically 740+) will qualify you for the best interest rates and terms.
8. Shop Around for Lenders: Compare interest rates, APRs (which include fees), and closing costs from several different mortgage lenders (banks, credit unions, mortgage brokers).
9. Gather Necessary Documentation: Be prepared to provide financial documentation, including pay stubs, W-2s, tax returns, bank statements, and current mortgage statements.

This townhouse has strong equity potential for refinancing. However, the exact HOA fees and, crucially, what those fees include (especially building insurance), will be the dominant factors in determining the overall monthly housing cost and the feasibility of a refinance.