Real Estate Question

[TV Wannabe]

We are looking to buy a resale home in the Villages. A local realtor told us that we should hold off on buying for a year, if possible, because once the connectivity to Fenney was complete, that area (Fenney) would become the most desirable and the price of resale homes in the northern areas would drop significantly. We are new to the market, have just begun looking and we're not sure if this was sound advice. It seemed odd that a realtor would discourage buying at this time. I was just looking for some other opinions of her analysis. Thanks in advance.

[New Englander]

I can only give my humble opinion. The info you got is bogus.

[vaborn]

I can only give my humble opinion. The info you got is bogus.

I say BS! Fenney (connected or not) is not for everyone!

[ColdNoMore]

The Villages is technically "connected"...to Seattle.

Would what happens in one place...affect anyone's decision in another?

[Chatbrat]

Do you have a contract with God, that you will be around next year ? Get it done !!

[dewilson58]

TV..............I think you have your answer.

First thread I have ever seen when everyone agrees.

Beauty is in the eyes of the beholder, not in the eyes of a broker.

Good Luck.

[Bogie Shooter]

I can only give my humble opinion. The info you got is bogus.

I say BS! Fenney (connected or not) is not for everyone!

Nor is any other village...not for everyone.

[CFrance]

I am not disagreeing with anyone, but I will offer our experience. Right now the resales north of Fenney are escalated because the only new homes in TV are in Fenney, and not everyone wants to be down there and wait for the golf cart paths and businesses to follow. When we were house hunting in 2011, our TV sales agent was reluctant to show us resales because there were so many new sales available. When we sold six years later, we wondered about using him because of this, but he & his partner gave us a convincing presentation about how resales were going due to the only new homes being in Fenney.

I'm just saying it's something to think about. The house sold very quickly.

[John_W]

Since 2007 most of what is below 466 has been built and one of the most central locations in that area would be the intersection of Buena Vista and 466A. From the two most recent squares that intersection is about 3-1/2 miles from LSL and 3-1/2 miles from Brownwood. That intersection is 8 miles from Rohan Rec Center, which is basically the edge of the established Villages north of 44. Fenny is 5 miles beyond that point, or about 13 miles from Buena Vista and 466A.

Not that the world revolves around Buena Vista and 466A, but if you wanted to drive to the new Lowes or Aldis, or take your golf cart to Evans Prairie, Cane Garden, Arnold Palmer, Glenview, Mallory, the softball fields, the polo fields, you get the point, you'll be packing a lunch because that new bridge will let you go everywhere if you have the time. Teetime at Arnold Palmer at 2:00, better leave about noon and don't stop on the way. I don't foresee the Fenney area having the same appeal until you have similar amenities.

[graciegirl]

We are looking to buy a resale home in the Villages. A local realtor told us that we should hold off on buying for a year, if possible, because once the connectivity to Fenney was complete, that area (Fenney) would become the most desirable and the price of resale homes in the northern areas would drop significantly. We are new to the market, have just begun looking and we're not sure if this was sound advice. It seemed odd that a realtor would discourage buying at this time. I was just looking for some other opinions of her analysis. Thanks in advance.

You really should look at everything. Resales and new homes cost almost exactly the same. The difference in price is the view between two exactly same models.

We like new. We bought new here twice. They both were reasonably priced compared to used. I don't sell homes and I don't work for the developers and I don't even know them.

I like new. Look at new and used. You can't go wrong. This is a wonderful place to live.

[ColdNoMore]

I am not disagreeing with anyone, but I will offer our experience. Right now the resales north of Fenney are escalated because the only new homes in TV are in Fenney, and not everyone wants to be down there and wait for the golf cart paths and businesses to follow. When we were house hunting in 2011, our TV sales agent was reluctant to show us resales because there were so many new sales available. When we sold six years later, we wondered about using him because of this, but he & his partner gave us a convincing presentation about how resales were going due to the only new homes being in Fenney.

I'm just saying it's something to think about. The house sold very quickly.


Yep.

[valuemkt]

Not sure how you came across this "local realtor", but I would lose him / her as quickly as you found him /her.

[rjm1cc]

Sounds logical but if I was the RE agent I would not think I would get the sale a year from now so this could well be his opinion and he is putting your interest ahead of his.
Seems like you just started your search. Consider renting for a few months to get to know the area and if you still like it then buy.

[asianthree]

First two houses were new. House #3 was preowned. We sold one house before it hit the market. We bought house #3 on day 2 of listing.

If you have not stayed here or rented I would strongly consider renting for a period of time while you were looking and deciding what area you would like to live in.

I am extremely surprised that a real estate person would tell you to wait a year because the prices are going to drop. Wondering if he just didn’t have what you needed available.

With that said would you be kicking yourself if you actually found a house now that you were in love with but held off to see if the price would drop.

After coming here since 2007 and renting we finally decided on a village and 2010, and then a different house with a larger garage in 2012, in a completely different area. Our preowned was in a village that we wanted. homes in that area have steadily gone up each time they sell. Take your time find something that meets your needs now, and later you can always find something else.

We have found that we are not attached to any home this late in life there are no memories of bringing up family or anything that special if another house came along we would move again with no worries of selling the other house.

[Bruiser1]

I concur with this Post. Since the building of Lake Sumter landing..the Villages has doubled in size. The original conceept was to have the Recreational areas in place before the houses were built. This process continued until development reached Brownwood Square and Rohan Rec (Morse and co rd 44). It was possible to go to restaurants, golf courses,rec centers via cars or golf carts. Even now I can still do that.

[Bruiser1]

:agree:Since 2007 most of what is below 466 has been built and one of the most central locations in that area would be the intersection of Buena Vista and 466A. From the two most recent squares that intersection is about 3-1/2 miles from LSL and 3-1/2 miles from Brownwood. That intersection is 8 miles from Rohan Rec Center, which is basically the edge of the established Villages north of 44. Fenny is 5 miles beyond that point, or about 13 miles from Buena Vista and 466A.

Not that the world revolves around Buena Vista and 466A, but if you wanted to drive to the new Lowes or Aldis, or take your golf cart to Evans Prairie, Cane Garden, Arnold Palmer, Glenview, Mallory, the softball fields, the polo fields, you get the point, you'll be packing a lunch because that new bridge will let you go everywhere if you have the time. Teetime at Arnold Palmer at 2:00, better leave about noon and don't stop on the way. I don't foresee the Fenney area having the same appeal until you have similar amenities.

Not sure how you came across this "local realtor", but I would lose him / her as quickly as you found him /her.

[eweissenbach]

The minute any real estate representative claims to know the future they would not be my representative any longer. I have heard real estate salespeople at open houses "guarantee" that a house would be worth 10% more in a year. Now that may have come true but no one can guarantee anything about the future aside from the fact we will all eventually pass on. The reality is that Villages homes, both new and resale, tend to sell very quickly and since there are so many sales, and easy access to sale prices, the prices are generally very competitive. Therefore if you find a home, in the area you like, and it is for sale - don't hesitate - buy it.

[Toymeister]

I believe the price of homes Fenny or preowned will be based upon the target market's wealth or perceived wealth.

Think about that, increasingly new retirees are relying on their 401k to fund themselves in retirement. Now look at the price of homes in 2016 vs. now. I believe the growth in 2017 was 4.5%. With the current administration's pro business stance the market and I postulate, the value of retirees homes, will continue to escalate

https://www.cnbc.com/2018/01/18/stock-markets-value-under-trump-has-grown-by-6-point-9-trillion-to-30-point-6-trillion.html

[TV Wannabe]

Thank you all for your responses. I knew that if I presented our situation on this forum that we would receive many wise, well reasoned and helpful replies.I don't have to tell you that the whole process can be overwhelming at first. We are looking forward to becoming part of this wonderful community. Thanks again.

[Bryan]

Although Graciegirl makes a great point, she left out the factor of "The Bond". All new homes have a bond - sometimes a very large bond. Resales could have No Bond to an almost complete bond - depending on age of home. Factor this into your calculations also. For my money, resales, with all the creaks, groans, settling, etc. worked out as well as more mature landscape are my first choice and being near 'the facilities and shopping' is a big plus.

[njbchbum]

May I humbly suggest that you not forget to search out the houses in the 3 original villages of Country Club Hills, Orange Blossom Gardens and Silver Lake. While most of those villages are composed of older manufactured houses [and even a few of the original mobile homes], the developer is rapidly gentrifying those villages with new site built houses much like can be found in the central and southern villages - with the exception of designer/luxury houses. The original villages offer larger lots than those under current development, mature landscaping and the total lack of traffic found in traveling to most of the rest of the villages. You could even buy a lot and pick out a house to put on it there! I don't believe that there is a bond attached to those sales because of their age. Amenities of Country Club, golf, pools, dog park, exercise trail, archery, softball, bocce, shuffleboard, tennis, billiards, reg'l rec center and more are all conveniently located within the geography reached by traffic free travel. The area also offers the only golf cart path to the outside world along 441/27 where one can get to Lowes. Cracker Barrel, Bealls, Aldis, all the way to Walmart! AND the area offers the only brick and mortar US Post Office. Shopping for groceries, clothing, housewares, hardware, flowers; movies, bowling, entertainment and dining can also be conveniently reached by golf cart using the golf cart bridge.

Some folks fear that the residents in those villages are beyond the scope of accepting newbies - but - nothing is further from reality. Those folks can be found everywhere! In actuality, those villages are more like legacy villages where the kids of the original owners are now moving in upon their retirement and semi-retirement! The Villages of Mira Mesa, LaReynalda and Valle Verde are somewhat newer with no site of manufactured homes; and they offer the same accessibility/conveniences because of their proximity just across the highway. Both of those areas are a short ride by car or golf cart [except in 'season' lol] from all that the Lake Sumter Landing area has to offer...but a minimum 20 to 45 mins from Brownwood Sq and even longer to the newest villages.

I offer all of that info simply for your information. What's the best thing about all of the info - there will be no expansion of homesites there. What you see is what you get. :)

[I am not a real estate rep and have never played one on television]

[vintageogauge]

I don't understand why an agent would tell you that, there livelihood is based on what they sell and by brushing you off for a year or so they most likely will loose you as a client. There are just as many reasons to buy North of 44 ( and they are still building some new homes up there) as there are South of 44 and those reasons will never change. No one knows what tomorrow will bring, if you're ready come on down and pick a retirement home out be it North or South, you'll be glad you did.

[BobnBev]

The Villages sales people are told to sell as many as they can in Fenny, then other areas concentrating on NEW sales, resales come last. Personally, I would opt for resales. All the bugs have been worked out by the prior owners, many upgrades, ie: crown molding, plantation shutters, upgraded landscaping, stainless appliances, etc. The final decision is up to you. Good luck.:coolsmiley:

[graciegirl]

The Villages sales people are told to sell as many as they can in Fenny, then other areas concentrating on NEW sales, resales come last. Personally, I would opt for resales. All the bugs have been worked out by the prior owners, many upgrades, ie: crown molding, plantation shutters, upgraded landscaping, stainless appliances, etc. The final decision is up to you. Good luck.:coolsmiley:

NO. THAT is SIMPLY not TRUE. They don't need to prioritize the new homes. People are lining up to buy them. That is just a repeated Urban Legend around here.

[manaboutown]

NO. THAT is SIMPLY not TRUE. They don't need to prioritize the new homes. People are lining up to buy them. That is just a repeated Urban Legend around here.

THEY DO PRIORITIZE NEW! The Villages agent I used ONLY showed me new homes and essentially REFUSED to show me preowned homes no matter how many times I requested he show me PREOWNED HOMES! He did not show me a single preowned home in a MONTH!

The developer primarily needs and wants to sell what it builds new. DUH! It only resells preowned homes as it must as a sideline. The PUSH is to sell the newly built product and their agents are incentivized to PUSH the PRODUCT!

Also he NEGLECTED to mention the bond, only telling me the "price" of a home. Clearly, the COST of a new home in TV is the PRICE plus the BOND! When asked he could not even give me the actual AMOUNT of the BOND, hemming and hawing and mumbling about it...

[asianthree]

The Villages sales people are told to sell as many as they can in Fenny, then other areas concentrating on NEW sales, resales come last. Personally, I would opt for resales. All the bugs have been worked out by the prior owners, many upgrades, ie: crown molding, plantation shutters, upgraded landscaping, stainless appliances, etc. The final decision is up to you. Good luck.:coolsmiley:

Did you look at the sale stats between preowned and new homes that TV. Its close to equal. Our oldest and youngest came down last week to look at homes, TV rep took them to 4 preowned. One likes Fenney area, other likes LSL area. No push to sell in Fenney, those homes sell all by themselves, just like in any new village as they were built

[GoodLife]

THIS IS TRUE as The Villages agent I used ONLY showed me new homes and essentially REFUSED to show me preowned homes no matter how many times I requested he show me PREOWNED HOMES! He did not show me a single preowned home in a MONTH!

The developer primarily needs and wants to sell what it builds new. DUH! It only resells preowned homes as it needs to as a sideline. The PUSH is to sell the newly built product and their agents are incentivized to PUSH the PRODUCT!


I think you need to put on your big boy pants next time you visit. Last year TV sales agents sold total of 4000 plus homes, about 50% were new and 50% were resales. If a TV agent refuses to show you resales (I don't believe this) simply walk into any TV sales office and state loudly "I want a new agent"

You will get one.

[manaboutown]

I think you need to put on your big boy pants next time you visit. Last year TV sales agents sold total of 4000 plus homes, about 50% were new and 50% were resales. If a TV agent refuses to show you resales (I don't believe this) simply walk into any TV sales office and state loudly "I want a new agent"

You will get one.

Whether or not you believe it, this is what happened to me. No worries, I've got another agent lined up.

[GoodLife]

Whether or not you believe it, this is what happened to me. No worries, I've got another agent lined up.


So you spent the money to fly here from California, rent a place for a month, and let a salesman show you only new homes. For a month. Sure!

[manaboutown]

I also looked at preowned on my own and through a Realtor. Primarily I was there to see if TV would work for me.

Although it is obvious to any child in the land that it is a "company town" it would work for me.

[GoodLife]

A local realtor told us that we should hold off on buying for a year


I'm sorry, but those words have never been uttered by an actual Realtor ever. Since the beginning of time.

Even before Fred Flintstone.

[GoodLife]

I also looked at preowned on my own and through a Realtor. Primarily I was there to see if TV would work for me.

Although it is obvious to any child in the land that it is a "company town" it would work for me.


I've been investing here for almost 20 years and know scores of TV agents, upper sales management, and tons of Realtors. Tell me the name of TV agent who refused to show you resales and I will make sure he/she gets fired tomorrow.

[ColdNoMore]

I also looked at preowned on my own and through a Realtor. Primarily I was there to see if TV would work for me.

Although it is obvious to any child in the land that it is a "company town" it would work for me.

That very succinctly and accurately describes my feelings...in a nutshell. :ho:

[rustyp]

We are looking to buy a resale home in the Villages. A local realtor told us that we should hold off on buying for a year, if possible, because once the connectivity to Fenney was complete, that area (Fenney) would become the most desirable and the price of resale homes in the northern areas would drop significantly. We are new to the market, have just begun looking and we're not sure if this was sound advice. It seemed odd that a realtor would discourage buying at this time. I was just looking for some other opinions of her analysis. Thanks in advance.

A salesperson advised you not to buy. What's wrong with this picture ?

[Goldwingnut]

IF the sales person is an outside realtor then of course they will tell you not to buy in Fenney, it almost all new properties and they can't make a dime of the sale. They will do or say anything they can think of to get you to buy an outside listed resale vs one listed by The Villages or a new home. They need to be showing you homes with what you want in the home, not be driven by what they have listed in their portfolio. If you're considering a resale then get a realtor from The Villages and one from one of the outside companies so you can see all the properties. If either one is not showing you what you want, find someone different to help you. Don't worry about hurting their feelings, it's your money and your retirement. If by chance they were to get fired because you asked for a different realtor, rest assured that you were not the first to make such a request and you are not to blame.

[Bay Kid]

Time for a new real estate agent.

[manaboutown]

I've been investing here for almost 20 years and know scores of TV agents, upper sales management, and tons of Realtors. Tell me the name of TV agent who refused to show you resales and I will make sure he/she gets fired tomorrow.

I might take you up on that offer on my next visit. I believe he is still active as I continue to receive Vmails with his name on them.

At that time he was quite a producer of sales of new homes for the developer and told me he had been given trips in a Morse Air Force jet and dined in the private dining room.

I apprized him that I was considering buying rental houses as well as a residence. He informed me he would not help me find a bargain. The new houses were flying out of inventory and were selling well at that time I suppose and he did not need to or want to invest much time in any particular prospect.

I have another Villages agent on my short list. Some now resolved family circumstances which suddenly arose kept me from continuing to pursue my plans at that time.

[vintageogauge]

I might take you up on that offer on my next visit. I believe he is still active as I continue to receive Vmails with his name on them.

At that time he was quite a producer of sales of new homes for the developer and told me he had been given trips in a Morse Air Force jet and dined in the private dining room.

I apprized him that I was considering buying rental houses as well as a residence. He informed me he would not help me find a bargain. The new houses were flying out of inventory and were selling well at that time I suppose and he did not need to or want to invest much time in any particular prospect.

I have another Villages agent on my short list. Some now resolved family circumstances which suddenly arose kept me from continuing to pursue my plans at that time.

If you were looking for an investment property you should have bought one in Fenney while you were here, they had some awesome deals down here, still have good deals but not like they did in the beginning months.

[Madelaine Amee]

If you were looking for an investment property you should have bought one in Fenney while you were here, they had some awesome deals down here, still have good deals but not like they did in the beginning months.

Personally, I would not go Fenney way for a RENTAL investment, it may be fine as a resale investment, but most of the people I know who actually rent through the winter months want to be close to the town squares, notably LSL, and shopping.

[graciegirl]

Sometimes things people say on the internet are just not true.

We are expected, because of the courtesy every person deserves, to believe what is said on a forum by a poster unknown to us.

We can access their bent by their general attitude and remarks over many years of posts and that is added to by meeting them in person sometimes.

One of the sales reps sold us both houses and has become a social friend. We have known him and his wife for ten years now. He is living in his seventh new home in The Villages.

I have never heard of a sales incentive here other than commission. It simply is not needed. No one ever needs to convince anyone to buy here or talk anyone into a home here. The Villages don't need to spend on advertising or offer free anything to potential buyers.

Most people who have purchased here in The Villages would tell you one of the things that they like most is the NO PRESSURE attitude. In fact some complain on lack of follow up. They will only show you what you ask to see. Our first visit, we were asked about our interests and she showed us Arnold Palmer Golf course and one of the rec centers art rooms. We had to call her to show us anything. We had to ask her to show us homes. I believe that is how they are trained.

I LOVED IT. I hate pressure from sales people. I do my own research.

The Villages reps are not desperate. They just need to show up.
P. S. I don't know the Morses. I wish I did. I have never been a realtor or sold a home other than our own, once. Here in Hadley. No one tells me to say anything. I love this place. Yes I do. I am a sincere fan.

[vintageogauge]

Personally, I would not go Fenney way for a RENTAL investment, it may be fine as a resale investment, but most of the people I know who actually rent through the winter months want to be close to the town squares, notably LSL, and shopping.

You would be surprised how many people rent down here, both seasonal and year round and I'm sure there are plenty more waiting for units to become available. Nothing wrong with investing up North but nothing wrong down here either. in any event the awesome deals are gone, a lot of them picked up by investors last year.

[manaboutown]

The Villages don't need to spend on advertising or offer free anything to potential buyers.

Most people who have purchased here in The Villages would tell you one of the things that they like most is the NO PRESSURE attitude. In fact some complain on lack of follow up. They will only show you what you ask to see.

The Villages reps are not desperate. They just need to show up.


My Villages agent did not "pressure" me other than to only drive me to a few new homes and evade showing me a single preowned when I asked him to do so several times. He never called to pester me but when I called him he would just take me to see another new home. I gave up on him after I called him back two times after initially meeting him. I explored the community, met many very nice and welcoming residents, drove through various neighborhoods on my own, went to some open (preowned) houses and spent time with a Realtor.

The Villages agent was anything but desperate. He clearly was doing well just smiling, being pleasant and polite and steering folks to new homes.

I did find it troubling that he never mentioned the bond on any new house, especially because he could never seem to provide the amount of the bond. He was quite dismissive of the bond which is of course a significant figure in the cost of any new home in TV.

As for advertising...https://www.golfchannel.com/video/play-villages-golf-retirement-community/

The Villages TV Commercial, 'Retirement Made Fun' - iSpot.tv (https://www.ispot.tv/ad/7bWl/the-villages-retirement-made-fun)

This one is my personal favorite. The Villages Lifestyle Preview - YouTube (https://www.youtube.com/watch?v=IJoB5hiMm9I)

They also advertise the lifestyle visits on FB, constantly.

[vintageogauge]

Just get a new agent, no sense kicking this guy around as no one knows who it is and really doesn't care. After all of the years you have been on this group you should know everything there is to know down here including how to find out what the bonds are before you even came down to look.

[asianthree]

Personally, I would not go Fenney way for a RENTAL investment, it may be fine as a resale investment, but most of the people I know who actually rent through the winter months want to be close to the town squares, notably LSL, and shopping.

Actually I have been watching 5 rental sites for Fenney since day one to see how long they’ve been staying on the market. It’s about the same amount of days as any other home for rent either short-term or unfurnished long-term.

Plus their asking price is almost exactly the same in Fenney as an any other Village. We have friends that have rented for 9 years, and next year are staying in Fenney. As they said squares each year became less and less important. As for shopping they online about 90% like I do. Fenny is close to being finished, other Villages are already well on their way

[manaboutown]

If you were looking for an investment property you should have bought one in Fenney while you were here, they had some awesome deals down here, still have good deals but not like they did in the beginning months.

This was way before Fenney was started. I hope to see Fenney when I return. The videos show it to be lovely!

[ColdNoMore]

This was way before Fenney was started. I hope to see Fenney when I return. The videos show it to be lovely!

Pack a lunch and maybe even...a change of clothes.

It could be a long day.

[vintageogauge]

Pack a lunch and maybe even...a change of clothes.

It could be a long day.

No need to pack a lunch, we have a poolside bar and grille down here attached to the rec. center.

[ColdNoMore]

No need to pack a lunch, we have a poolside bar and grille down here attached to the rec. center.

How about a gas station for those cars...that get less than 40 miles per gallon?



:D

[BobnBev]

NO. THAT is SIMPLY not TRUE. They don't need to prioritize the new homes. People are lining up to buy them. That is just a repeated Urban Legend around here.

Sorry, gg, but it has been told to me by 3 of the V's agents.:sigh:

[photo1902]

How about a gas station for those cars...that get less than 40 miles per gallon?



:D

There’s a gas station at Lake Deaton Plaza, Colony, Grand Traverse, and several on 44/301 in Wildwood.

How many more do you need? Or do you “need” one within walking distance?

[twoplanekid]

We took my wife’s sister to look at some of the extremely new Villas in DeSoto today. Looked at a two bedroom one for $170,000 and another one furnished with a small Florida room for $18~,000 something. Both included washer and dryer. I felt that these prices reflected a lack of many close (travel in a golf cart) amenities that most people expect in the Villages. However, this will change in late 2019 or 2020. So, if one can wait, these are one heck of a deal for a new home in the Villages!

Must be a mistake or an even better deal as the one we saw doesn't list it as being furnished but it is! Very nice looking with a large master bedroom closet and large kitchen.
Homefinder - The Villages(R) Homes and Villas for Sale (https://www.thevillages.com/homefinder/#/S618.10?new&preowned&homesites&lng=-82.01422436908756&lat=28.793606799305234&lvl=10)

[JohnN]

Fenney will have no genuine services for years It's miles from anything except the prison and the limestone quarry. You couldn't pay me to live there.
That's how I see it. Best wishes.