[Muncle]

I don't know if that is a conscious tactic of the sales office or not, but that is certainly the impression they give. When I bought 2 1/2 years ago, it was a different ballgame. Properties of the Villages had just been created, much to the chagrin of realtors in the area, as well as those back home who were getting referral fees. There were some resales, certainly not the numbers today. When you bought a new home, you got no options. You took what was available and had from maybe 30 minutes to a couple hours to make a decision. You snooze, you lose to the many other buyers waiting in line. But you all know the history.

In the last year and a half, it's been a new world. In my neighborhood, we've had several homes go on the market in that time. Whenever a seller has gone with Properties of the Villages, they've signed a listing contract. The initial price has generally seemed fairly high, enough to make those of us in the neighborhood get a warm and fuzzy about our house values. In all cases, there have been at least a few open houses and other Properties agents do show the house. Then the sellers begin to notice that there are no offers. Late in the listing period, the realtor suggests dropping the price a bit. A couple homes have actually sold at this point. Then the listing contract expires, the seller goes with an independent realtor, and the house sells pretty quickly. Often the new realtor will recommend a cut in asking price. Other times, they've stayed with the price to which Properties had just dropped.

I don't know for sure if Properties actively uses resales as "bait and switch" tools to sell new homes as part of their SOP. I've not seen it done in a patently obvious manner. I'd like anyone who's bought recently to share their experiences to see if it fits the impression.