Lock-Up Period Expiration (resales)

[jcvdd1]

Now that the year Lock-Up Expiration Period has expired for many of the homes initially built in the Fenney area has expired, can anyone shed any information on the resale value of recently sold homes from the Fenney area?



Have the recently re-sold homes within the Fenney area increased significantly in price and what is the strength in the resale secondary market?

Thanks

[vintageogauge]

They have increased in value significantly since 2017. I noted here on another topic that many of the designer re-sales are realizing gains of six figures in less than 3 years, that is significant. Will it keep going, I don't know, will access to the north further increase values, I don't know, but I do know what they cost then and what they are selling for now, not asking, actual selling prices. I believe a lot of the increase is due to the lots being heavily discounted in the beginning.

[graciegirl]

Now that the year Lock-Up Expiration Period has expired for many of the homes initially built in the Fenney area has expired, can anyone shed any information on the resale value of recently sold homes from the Fenney area?



Have the recently re-sold homes within the Fenney area increased significantly in price and what is the strength in the resale secondary market?

Thanks


Type in any address, together with the state and zip and many companies will give you their estimates of current value.(Realtor.com, Zillow, Redfin, Homes.com)

[Altavia]

Spec homes with a view in Linden are coming online listed 10% higher than similar recently completed homes constructed under contracts signed in June.

[blueash]

Be a bit careful when comparing new home prices with resale prices. It is entirely possible the original owner spent big money on a pool, granite, bird cages, driveway, landscaping etc... and that the cost of those upgrades is what you are seeing in the resale price rather than appreciation of the original structure.

[graciegirl]

Be a bit careful when comparing new home prices with resale prices. It is entirely possible the original owner spent big money on a pool, granite, bird cages, driveway, landscaping etc... and that the cost of those upgrades is what you are seeing in the resale price rather than appreciation of the original structure.

Or not. Our Village is eight years old. It is on 466, Bridgeport at Laurel Valley and people who have sold homes here have sold them for at least 100K more than they paid for them.

A rising national economic tide lifts all boats.

[vintageogauge]

Be a bit careful when comparing new home prices with resale prices. It is entirely possible the original owner spent big money on a pool, granite, bird cages, driveway, landscaping etc... and that the cost of those upgrades is what you are seeing in the resale price rather than appreciation of the original structure.

Agree with Gracie, when I stated the homes have had profits of 6 figures I know the owners personally and deducted the improvements that were made ending up with a true 6 figure profit.

[arbajeda]

Sale prices are public records. Go to the Sumter County Appraiser's web site (Sumter County Property Appraiser (http://www.sumterpa.com/GIS/)) and type in the address.

Likewise, tax records are also public. Go to the Tax Collector's web site (Search - TaxSys - Sumter County Tax Collector (https://sumter.county-taxes.com/public)) and type in the address.

[twoplanekid]

This must be a good deal then on this Charlotte that was purchased a year ago and never lived in. Adding to the 2018 purchase price (240,800) one bond payment of $1,050 plus garage floor painting, glass tile backsplash, lots of landscaping and sales commissions, this home owner with an asking price of $247,900 will not achieve much of a return on investment. Some homes do increase in value and some don’t here in the Villages. It’s not a given that all owners will become rich by selling their house.

Homefinder - The Villages(R) Homes and Villas for Sale (https://www.thevillages.com/homefinder/S619.71?new&preowned&homesites&map&lng=-82.00517156555392&lat=28.793238595688806&lvl=4)

Sumter County Property Appraiser (http://www.sumterpa.com/GIS/?pin=G33B071)

P.S. And how could I overlook the payment of Taxes this year to Sumter and Wildwood of $3,293.90 plus UNIT 619 MAINTENANCE of 442.72 and Fire of $124. Did I miss anything again?

[NavyVet]

Also be aware that "market value" estimates like Zillow, etc. are fairly accurate in most of the country, but are consistently way lower than the listing price of homes in TV (sometimes even a 6 figure difference.) TV is unique in that they can get the inflated sales prices because people are willing to pay them for the "lifestyle" they are buying into. And that's before taking those bonds into account.

[graciegirl]

Also be aware that "market value" estimates like Zillow, etc. are fairly accurate in most of the country, but are consistently way lower than the listing price of homes in TV (sometimes even a 6 figure difference.) TV is unique in that they can get the inflated sales prices because people are willing to pay them for the "lifestyle" they are buying into. And that's before taking those bonds into account.

We are "lucky too" if we own property here.

[Altavia]

Also be aware that "market value" estimates like Zillow, etc. are fairly accurate in most of the country, but are consistently way lower than the listing price of homes in TV (sometimes even a 6 figure difference.) TV is unique in that they can get the inflated sales prices because people are willing to pay them for the "lifestyle" they are buying into. And that's before taking those bonds into account.

Correct. A wide mix of home prices in the same geographic area throws Zillow's algorithm Off.

[vintageogauge]

This must be a good deal then on this Charlotte that was purchased a year ago and never lived in. Adding to the 2018 purchase price (240,800) one bond payment of $1,050 plus garage floor painting, glass tile backsplash, lots of landscaping and sales commissions, this home owner with an asking price of $247,900 will not achieve much of a return on investment. Some homes do increase in value and some don’t here in the Villages. It’s not a given that all owners will become rich by selling their house.

Homefinder - The Villages(R) Homes and Villas for Sale (https://www.thevillages.com/homefinder/S619.71?new&preowned&homesites&map&lng=-82.00517156555392&lat=28.793238595688806&lvl=4)

Sumter County Property Appraiser (http://www.sumterpa.com/GIS/?pin=G33B071)

P.S. And how could I overlook the payment of Taxes this year to Sumter and Wildwood of $3,293.90 plus UNIT 619 MAINTENANCE of 442.72 and Fire of $124. Did I miss anything again?

That home is north of 44, the heavy appreciation we're discussing is south of 44, Fenney to be exact.

[JSR22]

It is in DeSoto. I thought Desoto is South of 44

[vintageogauge]

It is in DeSoto. I thought Desoto is South of 44

You are correct, ,my mistake.