$50,000 Discounts

[Spectreron]

Page A2 of today's Daily Sun shows several new homes with $50,000 discounts. I think prices got ahead of themselves!

[Chi-Town]

I have noticed that Zillow's valuation of my house has gone down somewhat lately. 1-2%

[justjim]

A discount on certain homes is not new for The Villages. Many times the homes are discounted to complete a street or a Village, other times it might be for inventory purposes.

One thing for sure, they know what they are doing and their marketing is A plus!

[Cantwaittoarrive]

I think it's impossible to know if the discount is real. The same model of a house will be listed for a wide range of prices and it's not always because it's a golf front. There seems to be a wide range of variables that make a lot "premium"

[mickey100]

I've been seeing some preowneds offered by ThecVillages that are sitting on the market longer than you'd expect. The prices seemed a little high to me, and I guess to potential buyers as well.

[dewilson58]

I think it's impossible to know if the discount is real. The same model of a house will be listed for a wide range of prices and it's not always because it's a golf front. There seems to be a wide range of variables that make a lot "premium"

True.......The house with a $45k discount is sitting on a lot that had a ~$200k premium.

[The O's]

We are currently looking at homes. The first thing we do is check the Auditors page to see when the house last sold and what the price was. It appears that a lot of the homes on TV website are listed at $40-50k more then the purchase price. Many of those homes were sold in the last 2-3 years. Just because the new home prices are higher doesn't automatically mean that pre-owned have the same increase. I believe that the pre-owned homes are going to sit on the for sale list for longer periods of time because sellers are greedy. But, that's just my $0.02.

[TraceyMooreRN]

Be careful when you buy a new home with a "Discount". We bought our home 3/2013 and were thinking we got a 9500 discount--Appraisal came in 2000 above list price after the discount. Not much of a bargain--but I loved the house, so I was buying it with or without the discount!

[graciegirl]

The worth of a home is what they sell for. Our village is two and a half years old. It has 53 homes. In that time five homes have sold quickly and for a quite a bit more than what was paid for them.

[jojoin]

We are currently looking at homes. The first thing we do is check the Auditors page to see when the house last sold and what the price was. It appears that a lot of the homes on TV website are listed at $40-50k more then the purchase price. Many of those homes were sold in the last 2-3 years. Just because the new home prices are higher doesn't automatically mean that pre-owned have the same increase. I believe that the pre-owned homes are going to sit on the for sale list for longer periods of time because sellers are greedy. But, that's just my $0.02.

I live in a village that is about 3 years old. There have been several resales on my street and a few streets over which sold very quickly & for asking price....40-50K more than original sale. Surprised me, too. They were all listed by the Villages Sales so maybe, they know what the market will bear.

[getdul981]

When you consider the previously owned homes at a higher price than original, you also have to figure in any and all upgrades and/or improvements. Most people upgrade their landscaping and many change the carpet to tile or laminate. Also, there's granite counter tops, closet shelves and the list goes on and on.

We have upgraded out landscape, repainted, replaced carpet with laminate and added crown molding. We've also expanded the lanai and golf cart garage. I certainly would not consider selling at our original purchase price.

We aren't looking to sell any time soon either.

[john2]

I spent 100,000 repairing and improving my house and property so when I put it up for sale I am NOT being greedy!!!

[mickey100]

I think too it depends on where the preowned home is located. Central locations within the Villages or prime waterfront/golf course lots will command higher prices than less desirable locations/lots.

[l2ridehd]

Sales always slow down a bit this time of year. June July and August see a dip of about 20% in volume over the other months. Less people, less sales. And if someone really has to sell, than the price my be lowered a few % to get it sold. I would guess this is a great time to buy as prices will go back up again come September and October.

[justjim]

I have noticed that Zillow's valuation of my house has gone down somewhat lately. 1-2%

It has been my observation that Zillow does not have a good "handle" on TV properties. As we know, TV is a unique place, I would trust one of the local real estate agents before counting on Zillow for what your home might be worth in TV or elsewhere.

County records are a very good source for trends in Real Estate. As it has been said many times, ALL REAL ESTATE IS LOCAL.

[Chi-Town]

It has been my observation that Zillow does not have a good "handle" on TV properties. As we know, TV is a unique place, I would trust one of the local real estate agents before counting on Zillow for what your home might be worth in TV or elsewhere.

County records are a very good source for trends in Real Estate. As it has been said many times, ALL REAL ESTATE IS LOCAL.

justjim, you are undoubtedly right. Zillow emails me whenever there is a change in my home value. I don't actively go to their sight anymore.

[Miles42]

We started to look at pre-owned and quickly came to the conclusion for the most part they are over priced. Will look at new next week for the most part.

[gomoho]

We started to look at pre-owned and quickly came to the conclusion for the most part they are over priced. Will look at new next week for the most part.

When you look at new homes be sure to add in the thousands of dollars it is going to cost to make it look like home. TV sells pretty bare bones cause they can so most folks come in and easily spend a chunk of change to enhance their homes. New vs pre-owned is not apples to apples.

[2BNTV]

A discount on certain homes is not new for The Villages. Many times the homes are discounted to complete a street or a Village, other times it might be for inventory purposes.

One thing for sure, they know what they are doing and their marketing is A plus!

I believe you hit the nail on the head!!!!

Some people might want to take advantage of a good deal, when it is offered.

You can always sell after a year and make an instant 50K profit!!!

[shcisamax]

When you look at new homes be sure to add in the thousands of dollars it is going to cost to make it look like home. TV sells pretty bare bones cause they can so most folks come in and easily spend a chunk of change to enhance their homes. New vs pre-owned is not apples to apples.

Absolutely.

[2BNTV]

A discount on certain homes is not new for The Villages. Many times the homes are discounted to complete a street or a Village, other times it might be for inventory purposes.

One thing for sure, they know what they are doing and their marketing is A plus!

I believe you hit the nail on the head!!!!

Some people might want to take advantage of a good deal, when it is offered.

You can always sell after a year and make an instant 50K profit!!!

[2BNTV]

When you look at new homes be sure to add in the thousands of dollars it is going to cost to make it look like home. TV sells pretty bare bones cause they can so most folks come in and easily spend a chunk of change to enhance their homes. New vs pre-owned is not apples to apples.

So true as I am a few pennies into making my home, my own. I bought a pre-owned home!!!!

I'm sure it would be the same if I had bought a new home!!!

[CFrance]

justjim, you are undoubtedly right. Zillow emails me whenever there is a change in my home value. I don't actively go to their sight anymore.
Zillow had our waterfront condo in MI listed as being across the street (no water), two stories as opposed to three, and half the square footage. They had the build date right but the sale price wrong. The condo across the street wasn't even a pipe dream when we built our condo, and Zillow's mistakes about our condo didn't even fit the condo across the street when it was built ten years later. Anybody trusting Zillow on that piece of property would have come in with a laughable low-ball offer.

It sold to the first buyer at asking price. Don't trust Zillow.

[Doro22]

Absolutely.

Exactly! We bought pre-owned, & it included the washer & dryer, blinds over all windows and lots of storage cabinets in the garage. That alone was worth several thousand dollars.

[graciegirl]

When you look at new homes be sure to add in the thousands of dollars it is going to cost to make it look like home. TV sells pretty bare bones cause they can so most folks come in and easily spend a chunk of change to enhance their homes. New vs pre-owned is not apples to apples.


We like new.


I enjoy watching house flips too on the television and making any house one's own. I personally don't like the work of sometimes removing wallpaper and other peoples choices that I don't like... and the expensive things like removing tile.


I know many of our friends don't agree and have chosen WONDERFUL homes here in established neighborhoods and put their own personal stamp on them and made them into their own beautiful, perfect showplace.


Anything advertised as a sale is a marketing ploy and I have enjoyed watching the villages do it for all kinds of reasons. Truth is that any home is going to sell for what someone wants to pay for it.


Marketing ploys are not scams. I think the developer works with a good business plan and has a view as to how long he wants to hold a property. Money is time and time is money.


He know hows to build 'em and how to sell 'em.

I don't work for the developer. Just a huge fan.

[Cathy H]

sometimes the price in a sale of a pre-owned home is set to recover the cost of the bond that burdens the house. I wonder if the sale history of a house such as the county records indicates that the cost of the house was not only the selling price but also the multi-thousand dollar bond that the obligates the owner?

[JB in TV]

sometimes the price in a sale of a pre-owned home is set to recover the cost of the bond that burdens the house. I wonder if the sale history of a house such as the county records indicates that the cost of the house was not only the selling price but also the multi-thousand dollar bond that the obligates the owner?

This would only be the case if the homeowner paid off the bond. Otherwise, the bond is assumed by the new buyer, and not included in the asking price, or recorded sale price of the home.

[janmcn]

Page A2 of today's Daily Sun shows several new homes with $50,000 discounts. I think prices got ahead of themselves!

A discount on certain homes is not new for The Villages. Many times the homes are discounted to complete a street or a Village, other times it might be for inventory purposes.

One thing for sure, they know what they are doing and their marketing is A plus!


But who wouldn't be upset if they bought a new house a week before these discounts were offered?

[Neal2tire]

well said "the prices got ahold of themselves"

In the patio villas here in Buttonwood all neighbors were thrilled and continue to be thrilled that their homes are worth 185K
We put ours on the market last month. We are what you might call motivated sellers.
So we listed it for 175K plenty of views but no offers.
I discussed dropping the price and one or two neighbors were actually upset that we would do that. (I guess it reflects on their net worth?) Who knows.
So last night we went to the GIS maps of Buttonwood Villas and found out how much the homes are actually selling for. WHAT THEY SOLD FOR in the last six months.
Now our home. Our spotless perfect home is now for sale for 165K firm.

There is a cult mentality about believing the BS here. A house is worth what THEY SELL FOR not what you hoped it was worth.
Can't wait to see the reaction from a few neighbors when I sell it (if we can for 165K)

I blame the press here and the real estate world here (some of them) and more the residents who blindly believe what they heard during a game of pickle ball.
Hopefully this is helpful to those who are considering selling and buying. GIS maps of the county.
NG