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.
|
Yes, but when it comes to residents how much do they care about their property value if they plan to live here? How much do they care about their daily quality of life in comparison (as affected by predatory rentals). Whether you say my house is worth 300K, 500K, or 1000K it makes no real difference to me. It’s exactly the same house! Unless you are an investor, generally the value of your property doesn’t mean much. Perhaps it does to the kids who may inherit it after you die.