Quote:
Originally Posted by mrrmauu
We have been coming down since 2016 and plan on retiring, buying and living full time in the very near future. I see that most or all homes appear to sell within hours of listing and the prices have skyrocketed with no end in sight. Who is buying all these properties??? Are these new retirees, are they snowbirds, or are they speculators looking to make a buck renting them out? Is this all a bubble or will this continue into 2022? A brand new home we looked at in 2017 was listed for $270,000 - that same exact home today is around $400,000. They used to discount some of the homes when they advertised them on WVLG, no more. Most homes they advertise are $500,000+. My home has also appreciated but not at TV rate.
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My gut tells me that the recent rate of appreciation of homes in TV is not sustainable. My gut has been wrong many times.
When the housing market bubble burst in 2007-2008, I had been watching the market in TV for a couple of years. There was a brief downward movement, but nothing like what was happening in other parts of Florida, or other parts of the USA.
We all like to feel as if we bought at the bottom, the perfect time.
I guess the real questions for you is "can I still afford TV at the current prices?"
"Do I want to?"
"What if I buy and the market drops?" (if you aren't planning on selling in the near future, does this matter?)
"What if I don't buy and the market continues to rise, even if it is at a more reasonable rate?"
You will never have the chance again to buy in 2016, or 2017. Agonizing over that won't help you.
As has been suggested in other similarly themed threads, you could still buy in TV, but maybe not the home you dreamed of, or the neighborhood you originally desired. There are many different price points in TV.