Quote:
Originally Posted by jimjamuser
Ok, you have made a good case and now I will explain how I see things differently. The main real estate principle everywhere is location, location, location. Tampa is a fast-growing large metropolitan area. A location ONLY 20 miles from DOWNTOWN Tampa would be a WONDERFUL LOCATION for a working family or singles that are about 30 years old. As a retirement LOCATION it is NOT too WONDERFUL - because of excess traffic and high crime. And probably ONLY one pool and maybe a pitch and putt golf course and many fewer clubs than The Villages and fewer card game activities. So the comparison of those 2 communities is UNEQUAL. So, no wonder they have to reduce the home prices by 15% in that situation of BAD location, location, etc for the retired types.
Now in The Villages, the situation is different for many reasons, but one is that it is located like a self-contained oasis from the hectic and crime-laden metro areas. That is its main selling CARD. We all know that retirees can get more HOME for their BUCK in nearby non-Village communities than inside the boundaries of The Villages. So, The Villagers are getting LESS home for MORE bucks. Yet, they do it for the (supposedly) crime-free environment and the more extensive activities and overall lifestyle.
.........Basically, all things are NOT equal in my 2 examples and I would further stipulate that they are RARELY or never EQUAL............there ate too many variables in various gated communities.
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All valid points, until you consider the original question of increasing the age requirement in The Villages.
Witness the current buying demographic in TV ... the south. Younger, more active, different needs, wants and motivations.
All the amenities and other considerations you mention, are primarily of interest to active, younger "retirees". The average 80 year old, isn't playing golf every day, swimming in the pool and get cranked up at Happy Hour. The TV demographic target is really 55-70 (72?)? If TV raised the "age limitation", they would be looking at narrowing their potential buying demographic by at least 50%.
TV is already an anomaly, in that their age-restricted housing is more expensive than surrounding non-age restricted housing, primarily because of the amenities offered.
There's no big secret why the TV Developers have been on a mission for the last 5-10 years, with expansion to the South. They need more potential buyers, so they've created a new "suburb" to TV down South, with fewer amenities and less of what "makes TV, TV" ... with prices more consistent with neighboring areas. The 55-65 year old demographic, is a much larger and profitable target audience than the 66-70 year old bracket.
The South doesn't even look like TV, it looks like every other subdivision in Central Florida. Most of those folks have "bought a home, not a lifestyle". People buy homes, primarily for (3) reasons: investment, shelter or lifestyle. The folks down South are mostly buying shelter, some investment. In the more traditional area of TV, most folks bought for lifestyle. There are way more shelter/investment buyers, than there are lifestyle buyers.
Just my opinion, your mileage may vary.