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04-12-2023, 11:02 AM
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Gold member
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Join Date: Nov 2018
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Quote:
Originally Posted by BrianL99
Personally, I'm opposed to STR's in any neighborhood, anywhere ... The Villages included.
That said, rental desirability is one of the main drivers of property values in TV. If TV was to eliminate STR's tomorrow, property values would like drop about 10% overnight (in addition to the current market forces, which are devaluing properties everywhere). Just a wild estimate, but I suspect about 10% of the Units in TV are available for rental, perhaps more. If you remove 10%-15% of available buyers from a specific market, prices are going to drop.
STR's drive the values in 2 ways. A) They soak up inventory, B) Investor buyers can and do act quickly and decisively when buying property and are usually buying with all cash.
In the past (particularly last year or so) "panic buying" became another driver of property appreciation. When inventory is selling past, people act quickly and pay to dollar.
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Prices are going to drop as these cheap, short term rentals ruin what is supposed to be a retirement community. No one is going to pay top dollar to live next to a cheap hotel.
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