Quote:
Originally Posted by margaretmattson
My Daughter's home! Not in the villages. It is in Trinity, Fl, about 2 hours from here. The OP is not specifically about any area just what is happening throughout the country. STR strategy is to hold on to the home for a year or so and sell it for major profit. Now, it is predicted they will sell for whatever they can get to alleviate having to pay the costs to keep homes for a longer, unknown amount of time. This will reduce the costs of homes (on average) throughout the country.
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Home’s are priced lower due to interest rates - you can afford a lot more at 2.3% vs 7.3%.
If you refinanced in 2018, you’re not moving. When rates come down, prices will go up.
The AirBNB “bubble” is purely a function of 1) people buying a home during covid for remote work, then being asked to come back in the office, so they AirBnB’d the home - too much inventory and 2) inflation making vacations not affordable. So ABNB homes in resorts (Orlando, Jersey Shore, San DIego) have high vacancy rates, and owners can’t afford to hold them.
ABNB in the Villages is a different economy, people are still coming here (it’s not really a resort). Actually, the economy will make ABNB more valuable here, no need to buy a house for a 2 month snowbird visit, just ABNB.