Quote:
Originally Posted by Normal
That is a tough scenario. IMHO many homes south of 44 are within this purchasing window. I think the days of the quick money are over for those who were building on view lots and reselling them 2 years later? Square footage prices will obviously zero out at about 190-200 a square foot on basic spec home construction. “View lots” should be right at about 225-230 a square. Then again age, location, pools etc will change those means.
The Fed has some concerned with their lending rate and its impact on treasuries and for good reason. Buyers aren’t willing to accept the 7 point charge yet. The savvy know mortgage applications have dropped like a rock. Yes, some pay cash for homes, but that could be contingent on selling a home elsewhere.
If you were to buy now, it could be considered “pound foolish”. The bottom isn’t here yet and the market isn’t changing overnight. Waiting on the sidelines as a spectator is the safest route. I still think end of summer 2024 will be the best bottom to purchase?
|
I have been flipping homes in the Villages for many years. In my experience, homes with views keep their value and are easy to flip for substantial profit. All you need is that ONE BUYER.
I believe cookie cutter homes with no views are experiencing the most difficulty in this market. When every home looks exactly the same as others, buyers have the advantage.
We sold our home for substantial profit a few months ago. We are currently renting. We believe the end of summer will reveal what is going to happen with this market. As a flipper, I am hoping the prices go up. Most likely, this is not going to happen.