Who bought new Villages Home before selling old one?

[BRN_RI_FL]

Made the mistake of looking at veranda villas at Fenney today. Beautiful homes. Considering trading up. Love the 2 car plus golf cart garages, the straight garage driveway, the walk in shower, the larger yard and house. Talked to a mortgage guy about bridge loans. Should have stayed home today.

[fw102807]

We did this but used a home equity credit line instead of bridge loan. If you have enough equity it is much easier.

[vintageogauge]

They're building lots of them in Fenney as well as DeSoto, if you feel more secure, sell your home first, you'll sleep better.

[Villageswimmer]

Sending a PM

[Bogie Shooter]

We did this but used a home equity credit line instead of bridge loan. If you have enough equity it is much easier.

This worked for us too.

[raynan]

In 2010 we came to look at homes. If we bought a spec house we had 60 days to go home and clean out 33 years of accumulation and list house which, at the time, 1 in 12 homes in our area were in foreclosure. So we looked at lots because The Villages gave you 6 months to give ok to build and 2 months to build which gave us 8 months to sell house at home. We went back home and held yard sales, craigs list made neighbors, friends and relatives come and not leave house without carrying something home to remember us by. We had all dark pine furniture that we knew would not work in FL. This was in May. July 1st we get a call from The Villages that if we could give ok to start building they would drop the price 3%. We listed and the house sold in 2 hours with several bids at asking price and above. The people we picked were willing to rent on a per month basis and give us time to move so we didn't have to rent. Best thing we ever did. Times have changed and the market is much better. Take the leap. You will not regret it.

[VillageIdiots]

I am guessing by your comparisons in the OP that you have a villa. Seems those go pretty fast around here unless there is something about yours that would make it less attractive. Of course you could see that as reason to sell before you buy if can do it quickly or even justify buying before selling. I live in a Veranda and keep an eye on what’s for sale and what sold recently. There were 75 Verandas for sale about 2 weeks ago and now there are 62. Not sure if any more are coming on the market soon or not. But that’s almost a 1 per day pace here recently. They don’t all have golf cart garages and some have views and some don’t. So unlike courtyard villas, they are anything but all the same in a given area. When it comes down to it, they are just designer homes with fenced in yards. We love ours.

[asianthree]

At one time we owned 4 homes in 3 in TV, and one up north. As long as you can sleep at night all is good. We did sell first house we bought in TV shortly after we closed on the third house.

[Abby10]

In 2010 we came to look at homes. If we bought a spec house we had 60 days to go home and clean out 33 years of accumulation and list house which, at the time, 1 in 12 homes in our area were in foreclosure. So we looked at lots because The Villages gave you 6 months to give ok to build and 2 months to build which gave us 8 months to sell house at home. We went back home and held yard sales, craigs list made neighbors, friends and relatives come and not leave house without carrying something home to remember us by. We had all dark pine furniture that we knew would not work in FL. This was in May. July 1st we get a call from The Villages that if we could give ok to start building they would drop the price 3%. We listed and the house sold in 2 hours with several bids at asking price and above. The people we picked were willing to rent on a per month basis and give us time to move so we didn't have to rent. Best thing we ever did. Times have changed and the market is much better. Take the leap. You will not regret it.

What a great story. Especially liked your idea of neighbors, friends, and relatives stopping by and taking something to remember you by. We will not be selling our house for awhile, but I have already thought of a few items that I want to give to loved ones, both as a remembrance and because I know they love them. But having others just stop by and choose is a great idea. Thanks for sharing your story. So glad everything worked out so smoothly for you. Hopefully things will line up as well for the OP.

[PoolBrews]

We were in a situation similar to yours! We had a courtyard villa we absolutely loved. We had it for 2 1/2 years prior to moving here, and used it as a cottage for long weekends. Moved down here permanently in October of 2016. After being here a short time I really, really wanted a 2 car garage... but not enough to get serious about buying a new home. Flash forward about a year - we had just finished about $20K in renovations and additions to our CYV when we got a call from a realtor we knew. The last 2 car garage home in Phillips Villas had just had a significant price reduction - were we interested? We were in Seattle at the time... so we bought the home sight unseen.

Absolutely loved the new home, and for a couple of months we owned 2 CYV's. Had both of them through Hurricane Irma, no damage to either. We had no issues selling our old home, and the Home Equity loan on a new home option is fantastic for this scenario. You can get a home equity loan for 80% of the NEW HOME value. You put down 20%, and you don't have all of the paperwork of a normal mortgage. We literally only had to fill out 2 pages, and approval happens very quickly. It's about 1% higher than a normal mortgage loan, but we didn't plan on keeping a balance. When we sold the old home, we paid off the home equity loan, and now have an open line of credit for 80% of the new home. The bank even pays all the closing costs!

Go ahead and get the home you want - your old home will sell, you'll be happier, and life in The Villages will be incredible - as always!

[graciegirl]

Made the mistake of looking at veranda villas at Fenney today. Beautiful homes. Considering trading up. Love the 2 car plus golf cart garages, the straight garage driveway, the walk in shower, the larger yard and house. Talked to a mortgage guy about bridge loans. Should have stayed home today.

You asked and this is my opinion. I think it is safer and easier to sell your home first. The Villages will NOT accept any contingencies or holds on new homes, but I am sure there will be more Veranda homes available when you sell. Having extra garage space is wonderful here and having your yard fenced is great for dog owners. There are ALWAYS pluses and minuses to any real estate decision.

[B-flat]

Made the mistake of looking at veranda villas at Fenney today. Beautiful homes. Considering trading up. Love the 2 car plus golf cart garages, the straight garage driveway, the walk in shower, the larger yard and house. Talked to a mortgage guy about bridge loans. Should have stayed home today.

Fenny is a long way from Tipperary! Besides I hate to lose a new neighbor.

[Lottoguy]

People are just so drawn to a new home like those being built in Fenney. I prefer the previous owned homes. Many of them have the upgrades and are really not that old. Many have the bonds paid and their closer to shopping and many golf courses. My two cents.

[vintageogauge]

People are just so drawn to a new home like those being built in Fenney. I prefer the previous owned homes. Many of them have the upgrades and are really not that old. Many have the bonds paid and their closer to shopping and many golf courses. My two cents.

Everyone has a different idea of what they want, there are hundreds of people that love Fenney and there are most likely just as many that hate it. TV is so large now that you have your choice of just about anything from a manufactured home up north to premier homes throughout TV. Some want new and some want used, but it's very hard to change their minds once made up. Fortunately there is lots and lots of new and re-sale homes available from top to bottom. Enjoy the process

[Wiotte]

Made the mistake of looking at veranda villas at Fenney today. Beautiful homes. Considering trading up. Love the 2 car plus golf cart garages, the straight garage driveway, the walk in shower, the larger yard and house. Talked to a mortgage guy about bridge loans. Should have stayed home today.



We did this, home sold in 2 weeks, interest on bridge loan was much less than what we got in our new home which was discounted $17,500 to close out the neighborhood. Go for it, life is short why not be happy [emoji3]


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[Love2Swim]

I had a friend who did that, and ran into a problem selling her old home in The Villages. The realtor had priced it too high, and after quite a few price reductions, it finally sold, but she had been counting on getting more money for it. She loves her new (pre-owned) home, but the moral of the story is - be careful that you have it priced properly.

[BRN_RI_FL]

Thanks everyone for your input. My wife and I were formerly boring, conservative accountants so I think we are going to step back a bit. We have a nice home in RI and the courtyard villa in Phillips Villas. I think if we are going to continue to be 50/50 at each location, then what we have now is fine. If we decide The Villages should be our full-time home, then it will be time to sell both RI and Phillips which will allow us to get a really nice place down here without any bridge loans, fees, equity loans, or financial struggle. Now I just need to convince the wife that we don’t need to see our kids and grandkids very often. Looks like it will continue to be 50/50.
See you in a few weeks B-flat.

[Jerseyjd]

When we sold the old home, we paid off the home equity loan, and now have an open line of credit for 80% of the new home. The bank even pays all the closing costs!


Which bank waives the closing costs on home equity loans that are paid off quickly where the funds are available at closing and secured by the new purchase? We are looking to buy next Spring and contacted a few lenders in the area. Community Bank and Trust has a heloc program where the funds are available at closing but it does have closing costs. Citizens does not have a like program but does have a bridge loan product with higher costs than the heloc at Community. I was talking to an out of state mortgage banker today who commented that third party closing costs have been escalating rapidly.

[happy@last]

Thinking of downsizing from designer to patio villa in Mclure. Realtors are trying to tell me to get bridge loan but I don't want to. Looking for some trustworthy advice! got a bum deal on my 1st house so trying to be more careful this time. What's the general thoughts on moving south?? Quality of people, The quarry, home value, activities....just trying to be cautious...more singles??

[KSSunshine]

I had a friend who did that, and ran into a problem selling her old home in The Villages. The realtor had priced it too high, and after quite a few price reductions, it finally sold, but she had been counting on getting more money for it. She loves her new (pre-owned) home, but the moral of the story is - be careful that you have it priced properly.

Similar story, but we used the Villages Relocation Services who provided the names of two realtors in our area to interview. We selected the Realtor we thought could do the best job and had actually suggested the lower of the two prices. (We challenged the recommended price, but realtor was sure it should sell for that.) Unfortunately, the house was listed too high and still hasn't sold. Decided not to use Relocation services and have now relisted with a new Realtor and $15K lower. Since the house didn't sell, hubby didn't retire. So we cancelled the second half of our vacation so he could be back at work for a project. So the moral of the story is to make sure it isn't over priced.

We had been encouraged by the Villages Realtor to take a bridge loan back in October, but are pretty conservative in our finances. Glad we didn't go down that rabbit hole!

[BRN_RI_FL]

Similar story, but we used the Villages Relocation Services who provided the names of two realtors in our area to interview. We selected the Realtor we thought could do the best job and had actually suggested the lower of the two prices. (We challenged the recommended price, but realtor was sure it should sell for that.) Unfortunately, the house was listed too high and still hasn't sold. Decided not to use Relocation services and have now relisted with a new Realtor and $15K lower. Since the house didn't sell, hubby didn't retire. So we cancelled the second half of our vacation so he could be back at work for a project. So the moral of the story is to make sure it isn't over priced.

We had been encouraged by the Villages Realtor to take a bridge loan back in October, but are pretty conservative in our finances. Glad we didn't go down that rabbit hole!

We are also very conservative (in previous life both accountants) and decided against the bridge loan so we have decided to wait a while. We need to make some decisions first including whether we continue to own in RI. Also in our section of the Villages especially with Soulliere now selling there are many courtyard villas on the market. We’ve gotten an estimated sales price for our villa from our Villages realtor but that price is as high as brand new homes at Soulliere. We’re thinking that with the southern section of the Villages moving north there will be a good supply of homes available for years. No sense rushing into anything that we will be sorry for. Plus if we had to stay in Phillips villas that wouldn’t be a bad thing either.

[KSSunshine]

Hubby is an accountant too! Hence, we rush into nothing! I think you're correct in predicting plenty of homes as TV is certainly expanding!

[BRN_RI_FL]

Hubby is an accountant too! Hence, we rush into nothing! I think you're correct in predicting plenty of homes as TV is certainly expanding!

Good luck with selling your place!

[thetruth]

Thanks everyone for your input. My wife and I were formerly boring, conservative accountants so I think we are going to step back a bit. We have a nice home in RI and the courtyard villa in Phillips Villas. I think if we are going to continue to be 50/50 at each location, then what we have now is fine. If we decide The Villages should be our full-time home, then it will be time to sell both RI and Phillips which will allow us to get a really nice place down here without any bridge loans, fees, equity loans, or financial struggle. Now I just need to convince the wife that we don’t need to see our kids and grandkids very often. Looks like it will continue to be 50/50.
See you in a few weeks B-flat.

We bought in the Villages before selling our previous home.

Several reasons-First it takes my wife forever to make a DECISION. We had looked at the villages four times. I declared or get off the pot.

You state you and your wife are accountants. Few people realize or perhaps face what it costs them to keep a home
that they are not living in. In our case, our home was paid in full years before we sold it. In round numbers it was worth about 350. Assuming a stock market return of 8% has done far better than that over the past ten years or so. 350,000 x ,08=28,000. We had 10,000 in real estate tax +10,000. We had heating expense ???? 1800. Lawn would still need to be mowed etc ????? 1,000. We had DENNIS THE MENACE as our next door neighbor. They were FAMOUS or perhaps INFAMOUS in the school system. Hassle factor ????????? My FUZZY MATH point yearly cost to keep our previous home 28,000+10,000+1800+1,000 PLUS VALUE OF HASSLE=ABOUT 41,000 PER YEAR TO KEEP IT.
THE PRICE IS GOING UP. That argument makes NO SENSE at all on either end for us. Yes, the prices are going up in the Villages. The home we sold was and is still going up as well. According to Zillow, the rate of increase is a bit higher in the Villages than in our old area BUT, in my mind
the difference is insignificant.

Experience selling our previous home. My view is probably different than most. I worked as a salesman and have written orders up to 14 million-no it was not my 14 million-the 350,000 was mine. Your MEMORIES attached to your home HAVE NO VALUE TO THE BUYER. Your need to be able to FORCE YOURSELF TO look at your former property and see it as a competing product in competition with other PRODUCTS being offered. What you paid for it. What is still unpaid on the mortgage. What you need to get out of it to buy your dream place-HAS NOTHING WHAT SO EVER TO DO WITH WHAT IT CAN BE SOLD FOR.

As stated, we bought first forcing myself and my wife to go into ACTION. Priced CORRECTLY, our previously owned home sold faster than we/I had planned. Our place sold in only TWO WEEKS. We got a full price CASH offer from people who had just sold their place. We had another offer behind the one we accepted but that one with a mortgage.

Selling your home is spooky. We were lucky-OR PERHAPS PLANED IT RIGHT.

MY OWN SISTER-committed to buy a home. Tied the people up for months and then could not get a mortgage.
She had nice things to say about the sellers. My sister got all of her money back except for her atty fees. My sister was not happy that I told her she had screwed the seller-NOT THE OTHER WAY AROUND.

[Chatbrat]

we bought our house here, before selling our Palm Coast condo, fortunate enough the condo sold in 5 months after we moved here--no financing involved either way--but had to pay condo ass. dues and power to keep the a/c in the condo on

move and make yourself happy--no-one has a contract with GOD

[JohnN]

We did a bridge loan six years back. And our "old" villa sold in 3 weeks, so it wasn't much of an issue. The preowned market here looks pretty darn strong, in my opinion.
Get a hard working realtor.

[Chi-Town]

Used the Villages Relocation Service nine years ago. Very impressed all the way including choosing a mover.

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[I Tango]

We bought a CYV in Fenney in 1/18 with plans to rent it out for a couple yrs to decide if we wanted to more permanently to TV. Problem was our CYV rented out for 3 months but the rental management company we hired won't pay us our income. So we were forced to make a decision and we decided to move permanently to Fenney in 2 wks. Luckily we put our PA home up for sale and it sold in one day. Had 4 offers first day and accepted a nice amount over asking price. We were very lucky, but it sure would be nice to receive our rental income from the management company. But I don't think we ever will.

[vintageogauge]

We bought a CYV in Fenney in 1/18 with plans to rent it out for a couple yrs to decide if we wanted to more permanently to TV. Problem was our CYV rented out for 3 months but the rental management company we hired won't pay us our income. So we were forced to make a decision and we decided to move permanently to Fenney in 2 wks. Luckily we put our PA home up for sale and it sold in one day. Had 4 offers first day and accepted a nice amount over asking price. We were very lucky, but it sure would be nice to receive our rental income from the management company. But I don't think we ever will.

That is a shame to have used a unscrupulous agency. If it's the one I'm thinking of there has been a lot of chatter on here about them, you are not alone. Thankfully you were able to come down full time and no longer have to worry about renters or getting paid. Where are you from in Pa.? I'm originally from Ford City in Armstrong County.

[I Tango]

That is a shame to have used a unscrupulous agency. If it's the one I'm thinking of there has been a lot of chatter on here about them, you are not alone. Thankfully you were able to come down full time and no longer have to worry about renters or getting paid. Where are you from in Pa.? I'm originally from Ford City in Armstrong County.

Yes it is probably the same rental management company you've been reading about on TOTV. We're from right outside Hershey, PA.

[Byte1]

Fenny is a new area of the Villages, so I wonder why there are those that chose to sell after only owning them a very short time? I've heard rumors, but I am not going to spread rumors. Any one know for sure why homes are being sold down there after only living in them two years?

[B-flat]

Fenny is a new area of the Villages, so I wonder why there are those that chose to sell after only owning them a very short time? I've heard rumors, but I am not going to spread rumors. Any one know for sure why homes are being sold down there after only living in them two years?

I'd be curious too on an answer to your question.

[graciegirl]

Fenny is a new area of the Villages, so I wonder why there are those that chose to sell after only owning them a very short time? I've heard rumors, but I am not going to spread rumors. Any one know for sure why homes are being sold down there after only living in them two years?

Please tell us what you heard. I personally have not heard any rumors about "homes are being sold down there after only living in them for two years.". People will sell a home in The Villages after two years for a number of reasons;

Someone died.
They want a bigger garage, view, bigger, smaller house etc.
They decided to move back north because of someone's illness, a grandchild has entered the family, they don't like the heat.

I turn to Vintageogauge who lives in Fenney and many other posters who live there to quell this rumor that I am skeptical about.

Byte 1. I read many of your posts just now and agree with them so I really REALLY wonder what rumor you heard. You sound like such a reasonable person who I would listen carefully to. Please tell us the rumor you heard so that it can be addressed.

[champion6]

Fenny is a new area of the Villages, so I wonder why there are those that chose to sell after only owning them a very short time? I've heard rumors, but I am not going to spread rumors. Any one know for sure why homes are being sold down there after only living in them two years?Only because this has occurred in EVERY new village. It is NOT unique to Fenney.

I agree with the reasons given by Gracie, plus there are many more common reasons. There is at least one thread on TOTV where this was asked and the reasons are numerous and logical - not suspicious, based on a rumor.

[Villageswimmer]

We bought a CYV in Fenney in 1/18 with plans to rent it out for a couple yrs to decide if we wanted to more permanently to TV. Problem was our CYV rented out for 3 months but the rental management company we hired won't pay us our income. So we were forced to make a decision and we decided to move permanently to Fenney in 2 wks. Luckily we put our PA home up for sale and it sold in one day. Had 4 offers first day and accepted a nice amount over asking price. We were very lucky, but it sure would be nice to receive our rental income from the management company. But I don't think we ever will.


Sorry about your experience with the rental company. Have you contacted Seniors vs. Crime?

[Wiotte]

Sorry about your experience with the rental company. Have you contacted Seniors vs. Crime?



Waste of time. Contact Vinny @ 718-342-2235. He’ll know what to do with a guaranteed result.


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[I Tango]

Sorry about your experience with the rental company. Have you contacted Seniors vs. Crime?

Seniors vs. crime can't help. Local police can't help. All say it's a civil matter. However the FL state Attorney General's office is currently conducting an investigation into them. So hopefully they'll do something about the company.

[TNGary]

Anyone seeking a great mortgage broker who will ensure a good rate and fees i highly recommend John Misky of Franklin (suburb of Nashville) Synergy at 615-310-2687. He covers FL and has closed for me in the villages.

[asianthree]

Fenny is a new area of the Villages, so I wonder why there are those that chose to sell after only owning them a very short time? I've heard rumors, but I am not going to spread rumors. Any one know for sure why homes are being sold down there after only living in them two years?

We have been coming to TV since 07, bought first house in 2010. Our first house in Pennacamp we were the first house to close on our street. In less than a year 4 homes went up for sale, one had a death, one had to go north to take care of aging parent, one could not live without new grand baby, and last was garage too small.

Next village, Fernandina, same reason for sale within a year, except 3 were death of spouse, and need comfort of family in another state. So what ever rumor you heard, people move for many reasons, Gracie is right. Those who have been here awhile have been saddened by those who have to move.

We are on our third home, and just to make a better rumor for you, we may be buying our fourth home. So we may surpass the people move 2.9 times in TV. Our oldest is looking down in Fenney. They want the quiet and does not matter if they are connected. They know how to drive, and own a car.

[OhioBuckeye]

They're building lots of them in Fenney as well as DeSoto, if you feel more secure, sell your home first, you'll sleep better.

We've built & sold about 8 homes & you're right, sell your home before you buy another one. It will ease your mind, otherwise you're always thinking about the one you're trying to sell. It's not like you won't find a home to buy here in the Villages! The Villages have a good thing going for them. You're stuck with 2 homes not them!

[Byte1]

Please tell us what you heard. I personally have not heard any rumors about "homes are being sold down there after only living in them for two years.". People will sell a home in The Villages after two years for a number of reasons;

Someone died.
They want a bigger garage, view, bigger, smaller house etc.
They decided to move back north because of someone's illness, a grandchild has entered the family, they don't like the heat.

I turn to Vintageogauge who lives in Fenney and many other posters who live there to quell this rumor that I am skeptical about.

Byte 1. I read many of your posts just now and agree with them so I really REALLY wonder what rumor you heard. You sound like such a reasonable person who I would listen carefully to. Please tell us the rumor you heard so that it can be addressed.

The reason I know that some homes have sold in Fenney within two years is because it is easy to compare the homes listed with when they last sold. When I asked around, I was given people's "opinions" and I do not like to pass on "rumors" that may inadvertently cause damage to sales or someone moving into this great community. Forgive me for not passing on un-validated conjecture.

[villagerfromthewestcoast]

We ran into our realtor who said, you have to see this lot in Desoto. Purchased the lot in Desoto, went home to prep our home in Osceola Hills to sell. Told the Villages to go ahead and build hoping our house would sell quick. It sold in 6 days. We now have to rent for 2 months and put all our stuff in storage but hopefully it will be worth it.