This is a fallacy! I have friends trying to buy new homes in the new section and they are placed is lottery with over a hundred other people vying for the same piece of property, spec home or lot to build on. I thought I heard 1 of them say the villages increased the cost of new homes x% early last year. So if you have this demand for new homes, why would TV lower the prices? They haven’t.
As for existing home prices, location location location. In the northern part, prices are soft according to the quarterly report. As for the southern part, not at all.
I have friends selling their 3 year old home for over 50% of the purchase price. I know of a house they are asking for 100% gain in 4 years but it is in a terrible location and hasn’t sold. So if this homeowner drops his price 15% does Zillow claim the sky is falling? In my mind, it was listed too high to begin with.
My buddy just built a new home in the new section that resembles ours for double the price we paid for ours 3.5 years ago, and we have major upgrades. So I would ask close to what my buddy paid for his for mine if I were to sell. TV real estate people claim used homes go for more money than new homes.
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