[eweissenbach]

We looked at a lot of properties in the 2010-2012 time frame. Any we were interested in prompted us to look at the county assessor’s website. Most that were purchased in ‘06-‘08 had lost value, though not a massive amount. Probably 10-20% was the typical”discount”. Many other places in Florida saw losses in value in excess of 50%. I would surmise that The Villages did not see significant losses because a: The homes were mostly relatively inexpensive, b: Because of the very specialized nature of TV, amenity rich, golf affordable, senior citizen destination. In 2011 one could find patio villas for $130,000 and Amarillo ranch homes for $160,000. We looked at a somewhat dated Lantana on a CC golf course for $250,000.