TV Real Estate Values

[bookseller49]

Within past month all prices of manufactured homes under $90,000 were sold. Anything listed under $100.000 sold before the ink on the listing agreement dries.Least expensive home in The Villages is now $105,000.Curious as to why all of a sudden the market in TV is skyrocketing? I would have thought inventories would be increasing after the winter season and snowbirds return to summer homes.Explanation please.

[gomoho]

Supply and demand. Inventory is normally low at this time of year and there are always buyers so...... Prices will probably continue to rise on the under $300k properties because they will be more and more difficult to come by. The new Fruitland Park Village will supposedly have homes starting at $500k. Of course there won't be a bond since it is Lady Lake but how many people retiring are looking for a house that costly?

[Old_As_Dirt]

I have heard from a real good resource that the Developer is buying those homes, and will continue to buy them up, and erect sight built or Manufactured homes on them., where else can you buy a home for under $150,000. on a newly reconstructed golf course, only in Lady Lake section of the villages, and all the services it provides.

[2BNTV]

Since August 2013, prices have risen approximately 27 %.

When I bought my home, patio villa inventory was extremely low. One has to be ready to make quick decisions, as homes will go fast, when the demand is high, and inventory is low. One has to stay on top of available homes, as they will sell in a blink of an eye.

TV real estate doesn't follow the typical trend of real estate in other areas of the country, as people are buying the lifestyle.

It's the "snooze and lose" theory, in effect.

[justjim]

Interest rates continue to be at a all time LOW and the Final Phase push by the sales agents are among the "things" that have driven prices about 25% higher.

Let's face it---the Developer has done a heck of a job marketing TV and its lifestyle.

[applesoffh]

A friend and I went to 3 open houses last week, all on the south side of 466A. Every one of the agents on site indicated that houses on the lower end of the price spectrum were selling like crazy, as were re-sales under $275M; however, there is aso a "glut" (their words, not mine) of Designer homes in the $275M + range. This is the time of year that there are more houses on the market than in the Fall and Winter. Houses are being built at the rate of 300 a month (again, their words, not mine) so inventory will be high when the fall/winter season arrives. This is an excellent time to buy, apparently. In addition, my friend and I were told that no more patio villas will be built, and that the last one sold the day it went on the market. As I said, this is information we got from Villages sales agents at open houses the past week.

[ilovetv]

Interest rates continue to be at a all time LOW and the Final Phase push by the sales agents are among the "things" that have driven prices about 25% higher.

Let's face it---the Developer has done a heck of a job marketing TV and its lifestyle.

AND.....it was not just marketing gimmicks nor window dressing. We feel like we got much more than we paid for. We do feel like we "live like a millionaire" when we're certainly not!

[ValerieJo]

Happy for all of you but this news breaks my heart. When I'm finally able to retire and buy in TV, I will be totally priced out of the market :(

[Cisco Kid]

Happy for all of you but this news breaks my heart. When I'm finally able to retire and buy in TV, I will be totally priced out of the market :(

Ditto

[Medtrans]

Well you can subtract 1 from the glut come 6/10! Woo-hoo.

[JimPete]

A friend and I went to 3 open houses last week, all on the south side of 466A. Every one of the agents on site indicated that houses on the lower end of the price spectrum were selling like crazy, as were re-sales under $275M; however, there is aso a "glut" (their words, not mine) of Designer homes in the $275M + range. This is the time of year that there are more houses on the market than in the Fall and Winter. Houses are being built at the rate of 300 a month (again, their words, not mine) so inventory will be high when the fall/winter season arrives. This is an excellent time to buy, apparently. In addition, my friend and I were told that no more patio villas will be built, and that the last one sold the day it went on the market. As I said, this is information we got from Villages sales agents at open houses the past week.

Our agent and long term friend told us there was one more area of patio villas and one of cottages that were planned. We were also told that the average buyer was looking for homes in the $250k to $300k range.

As TV nears build out prices will rise. It's the law of supply and demand.

[gomoho]

Our agent and long term friend told us there was one more area of patio villas and one of cottages that were planned. We were also told that the average buyer was looking for homes in the $250k to $300k range.

As TV nears build out prices will rise. It's the law of supply and demand.

And I was told under $250k so go figure!

[theorem painter]

Curious as to why all of a sudden the market in TV is skyrocketing? I would have thought inventories would be increasing after the winter season and snowbirds return to summer homes.Explanation please.

I am curious as to why you think home inventories should increase because snowbirds have returned to their summer homes. Aren't they just going to return to the same home in the winter?

[Bizdoc]

In late 2012, we were told by our sales rep that "absolutely no more cottages would be built." As I look down Hillsborough Trail at a bunch of cottages, I can see how that worked out. Don't believe absolute statements about what will and will not happen in the future.

There are fewer visitors in the summer, so fewer folks looking to buy. Don't worry, it will pick up in the fall.

[asianthree]

I am curious as to why you think home inventories should increase because snowbirds have returned to their summer homes. Aren't they just going to return to the same home in the winter?

people winter in their home sometimes for the first or second year, and find out that they need bigger or smaller..the average person moves 2.5 times in the villages

[JMEZARIC3]

Supply and demand. Inventory is normally low at this time of year and there are always buyers so...... Prices will probably continue to rise on the under $300k properties because they will be more and more difficult to come by. The new Fruitland Park Village will supposedly have homes starting at $500k. Of course there won't be a bond since it is Lady Lake but how many people retiring are looking for a house that costly?

From my research on Patio Villas,home values are back to or a bit higher than the selling point right before the real estate downturn.Go to the Sumter County Assessor's website, you will be amazed at the information available on every house in Sumter County.

[kstew43]

Has anyone noticed that on the villages real estate site that the resale homes no longer have photos on the open house site and the new homes do have photos?

happened about a week ago......mistake or marketing strategy.....:cry:

I am priced out as well..... still hoping the tide will turn and middle class folks will be able to enjoy the villages as well as the higher income folks.

[2BNTV]

I am very thankful that I bought last year before the price began skyrocketing!!!

I wonder what will happen to real estate prices, when build-out is finished. Whenever that may be, as only Gary Morse knows for sure. :D

I know it won't affect me as I am a frog, and don't plan on moving within TV.

There will always be resale homes available, but at what price???

Stay tuned!

[alemorkam]

we used, and were very happy with, the website focusonthevillages.com when we were looking. It updates a couple times a day with new listings. They only list homes in the MLS. Villages sales agents cant show or sell these homes. take a look.

[Shimpy]

In late 2012, we were told by our sales rep that "absolutely no more cottages would be built." As I look down Hillsborough Trail at a bunch of cottages, I can see how that worked out. Don't believe absolute statements about what will and will not happen in the future.


I'm not very impressed with the sales reps, at least not the one I had. I had friends before I moved here who visited and picked out a home to buy then was told while signing papers "Oh, by the way there is also a bond to add to the total price". They backed out of the deal. So when I visited I asked my agent about any additional cost over the price of the home and she denied there was any. After learning about bonds I called her out on this and she got very defensive but had no reason for hiding the extra expense.
I eventually bought from another agent who never showed up for my walk thru as promised.