Quote:
Originally Posted by Villager2be
Hi All,
Hoping to get some feedback from those who have been around TV since the 2008/09 Great Recession, I have been getting "pro" feedback that the 08-09 housing crash nationally, and in Florida specifically, essentially had zero impact on the Villages market, that TV was a rare exception and was essentially unscathed, can that possibly be true?
The same source also indicates that I am practically assured that any new home that I buy now will be worth ~$100k more in a year once the neighborhood/area is completed and more mature. As great as that would be, I am not drinking that kool-aid (yet, lol!), especially as it seems the market has been softening a bit over the last year (can it be?).
Given your experience, and how far the market has come, would you even be concerned about downside risk? I am buying as a snowbird owner/resident but also hope to recoup expenses by hosting for the remainder of the year via short term rentals through a property management company. I'd rather not buy at a market peak, I would just rent for now if I thought that was the case.
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Like all other places TV homes lost value in 2008 etc but not as bad as other areas of the country including Florida. There are less mortgages in TV than in other areas of the country. When prices started to sky rocket 3 years ago, they did not sky rocket as high as other areas. That old biz line supply and demand does control. There is still a lot of land in Central Florida. Demand should remain good in Central Florida due to fact that people from coastal area of Florida are moving here due to high insurance prices(3-5X more on the coast)