Resale Housing Market Rigged?

[retiredguy123]

Am I the only one who thinks the houses on the resale market do not represent the best properties available? I have stopped looking at resale properties because they always seem to be inferior and overpriced as compared to the new houses. I am beginning to believe that, with so many sales agents in The Villages, the best houses are screened out and sold before they are listed for sale to the public. Is there any truth to this theory?

[dewilson58]

Nothing "rigged" (but it is a good eye catching title).........Normal process.

True everywhere...........a lot of people tell brokers they want to buy, tell them what they want and when a new listing comes in the door, before hitting the sheets.........the broker calls their customers.

Nothing new.

:mornincoffee:

[champion6]

Nope, no truth to that theory. Of course, you ARE also looking a resales that are listed on MLS and shown by non-Villages agents. Right?

[stevebotts]

Usually the resales have many improvements you will eventually spend money to do on a new home. We did not even look at new homes when we bought. Got a home without builder grade carpet, enclosed lanai, better paint, etc.

[graciegirl]

Usually the resales have many improvements you will eventually spend money to do on a new home. We did not even look at new homes when we bought. Got a home without builder grade carpet, enclosed lanai, better paint, etc.

BUT.....not the improvements we would choose in many cases. Some folks have personalized their tile and painted in colors we would not enjoy.

The homes that are neutral and well appointed with updates that almost everyone would choose and are clean and well priced sell quickly, and those not quite as desirable do not sell as quickly.

That is how the market works here, there and everywhere.

Not rigged. Why would someone think it was rigged? And how would you rig it and who would benefit? The Villages have no trouble selling new homes. This is the fastest growing area of it's size in the country.

I don't sell real estate and have never but I like following the market.

[Trayderjoe]

Am I the only one who thinks the houses on the resale market do not represent the best properties available? I have stopped looking at resale properties because they always seem to be inferior and overpriced as compared to the new houses. I am beginning to believe that, with so many sales agents in The Villages, the best houses are screened out and sold before they are listed for sale to the public. Is there any truth to this theory?

BUT.....not the improvements we would choose in many cases. Some folks have personalized their tile and painted in colors we would not enjoy.

The homes that are neutral and well appointed with updates that almost everyone would choose and are clean and well priced sell quickly, and those not quite as desirable do not sell as quickly.

That is how the market works here, there and everywhere.

Not rigged. Why would someone think it was rigged? And how would you rig it and who would benefit? The Villages have no trouble selling new homes. This is the fastest growing area of it's size in the country.

I don't sell real estate and have never but I like following the market.

The location of the home and potentially the cost of the bond could also play a factor. Is the bond in the pre-existing home paid off, or nearly so? Compare the bond costs of a new home in Feeney versus elsewhere. Would you rather be in a particular section of The Villages? Does living in Feeney (being more isolated from the rest of TV, at least for now) appeal to you versus buying a home near Lake Sumter or Spanish Springs?

When we bought 10 years ago, we looked at both pre-owned and new homes. We did buy a new home because:

1) The "older" pre-exiting homes we looked at had floor plans with the washer and dryer in the garage and the heating/air conditioning unit inside the home which we did not like

2) We liked the area (relative to Lake Sumter square as well as the plot that the house sits on) of the new home we purchased

3) As Gracie indicated, the pre-owned homes were personalized to the owner's likes. In some cases, we would have felt the need to make changes (re-painting for example) sooner rather than later (I vividly remember a blood red room in one house that we looked at-yuck!!). We were not planning to move into the home full time for a while, so neutral in the new home worked for us.

Remember the old adage.....location...location....location. I am sure that plays into it as well (see my second point above).

[billethkid]

In a word.....NO!

Not "rigged"..

[sail33or]

Everything is rigged, you just have to be in the know.

We bought our resale house the second it became officially listed. Our agent knew what we wanted, told us that the house was going to be listed, we saw it first thing that morning, bought it immediately and several back up contracts were put on it the same day. Very nice resales do not last long enough for you to see them listed.

Just like those perfect location lots. You must buy them "before" they are even listed. Listed stuff is for the masses.

[npwalters]

We bought pre-owned through ReMax and also looked at several with TV realty. The quality was comparable with both realtors. We opted for pre-owned because we like the areas in the northern third of TV due to more mature and natural landscape and the homes in those areas are older. The bond was paid on our home so the price we negotiated was the actual total price. We ended up using ReMax because the house we chose was listed with them. The realtor - Leslie Harker - did a great job showing us several. One with TV was a very close second choice and that realtor was great to work with too.

[autumnspring]

Usually the resales have many improvements you will eventually spend money to do on a new home. We did not even look at new homes when we bought. Got a home without builder grade carpet, enclosed lanai, better paint, etc.

Like everything else, there is truth to all sides buying new vs resale. Getting a better deal on a resale-MAYBE. By code the newer places are built to stand up to higher winds. Everything has an expected life-hot water heater-AC about 10 years. Roof about 20.

Also, plus or minus some will debate but when you buy new, you do not need to break into existed clicks and you neighbors will be of the same age group.

You must also decide if you can or wish to buy before selling your existing home. Do you want to move twice?
Put stuff in storage etc etc etc.

[Boomer]

We were in no hurry so that helped. I had told our agents exactly what I wanted and where. (It had to be pre-owned.) It took a while, but one day the call came. The house we bought had just hit the market.

We had told both the MLS and the VLS agents. The MLS came through on that one. But that does not mean it is always the case. I truly believe (actually know) you have to find the right agent -- MLS or VLS.

I had been reading TOTV for a long time and we had rented 2 or 3 times so I knew the territory pretty well.

I went to Open Houses to meet agents. Whether you are buying or selling, that can work well for you as a way to find a match who is professional and works hard. I saw Open Houses as a way to conduct interviews.

[billethkid]

I think "rigged" perhaps is an over and at times an over used
term employed when one thinks they did not get the same opportunity.

When we were shopping for lots in 2003/2004.....that would be nothing in existence below 466 (not 466 A).
When we saw where we thought we wanted to be, we were told the lots had not been released yet. Our salesman offered to put us on the list and call us when they were released. I asked if we could see the plot plan for the village of our choice. He accommodated us. We picked a lot. He said he could not assure we would get it as the system was first come first served when released. A week or so later he called and said the lot we had chosen was available, and needed a deposit before the end of the day. Which we did.

I think the above is typical of transactions and are a function of the character of the sales person. A very aggressive sales person will do what ever is ALLOWED to make a sale.

I do not consider actions like ours to have been "rigged".

[retiredguy123]

I think "rigged" perhaps is an over and at times an over used
term employed when one thinks they did not get the same opportunity.

When we were shopping for lots in 2003/2004.....that would be nothing in existence below 466 (not 466 A).
When we saw where we thought we wanted to be, we were told the lots had not been released yet. Our salesman offered to put us on the list and call us when they were released. I asked if we could see the plot plan for the village of our choice. He accommodated us. We picked a lot. He said he could not assure we would get it as the system was first come first served when released. A week or so later he called and said the lot we had chosen was available, and needed a deposit before the end of the day. Which we did.

I think the above is typical of transactions and are a function of the character of the sales person. A very aggressive sales person will do what ever is ALLOWED to make a sale.

I do not consider actions like ours to have been "rigged".
Perhaps rigged is not the correct word. I think there are about 200 to 300 sales agents working in The Villages. With that many people having inside information about new listings, it seems to me that the MLS resale inventory does not really represent the best available houses. So, it is somewhat misleading to think that you can look at the listings and get an accurate feel for the actual market. You are only looking at houses that have been screened out. Just a thought.

[vintageogauge]

when we started looking at re-sales there were very few that met our criteria, it seems we wanted the same as many others and those homes were sold as soon as they hit the market. When we came down to buy both the MLS and VLS had only two homes that checked off all of the boxes and both were way over priced in our opinion and I believe that is why they were still available. That was in May and as of a week ago, two of them still have not sold so I think I was correct on being over priced. We then looked at new homes in Oceola, both pines, and Fenney. It only took about an hour in Fenney for us to be sold. The homes that Beth Pope showed us were exactly what we were looking for and we bought one on the spot and closed 8 days later. Still have absolutely no regrets with the home or with Fenney. As of last week we are full timers and will now work on getting residence status down here.

[CFrance]

Everything is rigged, you just have to be in the know.

We bought our resale house the second it became officially listed. Our agent knew what we wanted, told us that the house was going to be listed, we saw it first thing that morning, bought it immediately and several back up contracts were put on it the same day. Very nice resales do not last long enough for you to see them listed.

Just like those perfect location lots. You must buy them "before" they are even listed. Listed stuff is for the masses.
That is how our next-door neighbor's house sold. Realtor knew what his client was looking for, and boom.

[Sandtrap328]

When we bought 8 years ago, we looked at re-sales with both MLS and Villages agents. We were only interested in a re-sale so we could move in a couple of weeks later.

New homes need landscaping, upgrades, etc. The bond is a big difference between resale and new. Price on a resale is negotiable but price on a new is not negotiable. Makes a huge difference!

All in all, we found a perfect home. Friends who moved in the same time to new homes are very happy, too.

The Villages is a great place to live!

[Toymeister]

I disagree. Preowned are the most favorable of all, always MLS. I get the MLS feed every day via Zillow. From my perspective (designer) I see homes that are underpriced by 10% or more once a qtr. Approximately five to eight annually depending upon your definition of value. I suspect some of the pricing is the agent as much as the owner.

Never do I see a VHS home underpriced, never.

[l2ridehd]

If you just compare house to house than resale is overpriced. When you dig a bit deeper you figure out why. When you buy new you have to add a washer and dryer, attic stairs, landscaping, blinds, and a few other things. Usually the bond will be 10 to 20K lower on a resale. When you compare everything usually the resale is cheaper. So if you find what home you like in a location you like, you can buy a lot of paint and flooring to make it your own for what you will save.

Most who buy new will spend another 20K on things they need and have a much higher bond day 1.

[Fraugoofy]

I prefer re sale simply for location. When I look back at the pictures of our first villa and see all of the home improvements we have made to our taste, it hardly looks like the same place! And those improvements are a tax write off since it is a rental for us... Peace out!

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[gap2415]

We bought pre-owned through ReMax and also looked at several with TV realty. The quality was comparable with both realtors. We opted for pre-owned because we like the areas in the northern third of TV due to more mature and natural landscape and the homes in those areas are older. The bond was paid on our home so the price we negotiated was the actual total price. We ended up using ReMax because the house we chose was listed with them. The realtor - Leslie Harker - did a great job showing us several. One with TV was a very close second choice and that realtor was great to work with too.

We did too and had a similar experience. Not only was the price excellent but the $24k we would have spent on a bond covered many upgrades to get what we wanted.

The market is certainly not rigged. With resales, if you don't like the updates, don't buy it, simple. As far as painting, Even new you get a one bland color interior. Most paint colors they like.