Quote:
Originally Posted by Randall55
Not always true. Many preowned homes with large garages and views have been sitting on MLS and VLS for months. Many with large price reductions. If you haven't noticed, inventory on preowned homes is GROWING every day.Your home must be beyond special to see a sizeable profit.
Buyers with $1 million plus budgets are not fools. They are SELECTIVE buyers. Very few will plunck down an extra $200-$300 thousand on a preowned a seller has overpriced. Most will buy a lot from the Developer and build. There is 15 + years of continued building remaining. The Developer will continue to be the winner. All who believe a large profit on their resale is a guarantee is gambling. Many will lose.
My advice: Never buy a home with a big profit in mind. Buy a home you can see yourself living in for many years. Also, keep in mind an expensive home has expensive monthly costs. Before buying, decide if it is worth it. The homes are cookie cutter in the Villages. It is your choice to pay significantly more for the same model or not.
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The only large homes with large garages that don't sell quickly are on undesirable lots. Take a look and see how many Woodside or Ivy models are for sale, very, very few and those are the ones on bad lots. The larger more expensive resale homes are selling at high prices because there are no spec homes to buy in that price range and the desirable lots when released are sold usually the same day. There is only one new designer spec home for sale that is over $500,000 and it has kissing lanais.