New home prices

[geofitz13]

I have been watching new home prices in the southern villages for some time. Ever since "connectivity" became a reality, a lot of those prices have skyrocketed. Not just a couple thousand dollars, but tens of thousands. Small patio villas under 1000 square feet were in the 160-170,000 range. There are, as of today, 25 under 200,000 and many more above that. "Regular" patio villas, over 1100 square feet, go for $225,000 and up. Cottages, verandas and designers are going for 20-30,000 more than just a few weeks ago. This has nothing to do with impact fees, it's strictly a result of connectivity. I worry about the affordability of housing here going forward. It is, of course, good news for those of us who already own.

[billethkid]

I have been watching new home prices in the southern villages for some time. Ever since "connectivity" became a reality, a lot of those prices have skyrocketed. Not just a couple thousand dollars, but tens of thousands. Small patio villas under 1000 square feet were in the 160-170,000 range. There are, as of today, 25 under 200,000 and many more above that. "Regular" patio villas, over 1100 square feet, go for $225,000 and up. Cottages, verandas and designers are going for 20-30,000 more than just a few weeks ago. This has nothing to do with impact fees, it's strictly a result of connectivity. I worry about the affordability of housing here going forward. It is, of course, good news for those of us who already own.

There will always be more than enough folks in the market who can afford what ever is the going price of the day in TV.

Growing from 35,000 to 135,000 population over the last 15 years with significant increases home prices all along the way is testimony.

[Stu from NYC]

Makes one wonder why those bridges were not built earlier.

[Dotneko]

Well, those of us in the purchase/design/construction queue over the past 6 months have seen 2 increases in construction costs totalling about 10 %. Nothing to do with connectivity, but with supply issues in windows and wood.

[Bilyclub]

Makes one wonder why those bridges were not built earlier.

The Turnpike Enterprise and the gas pipeline company were not thrilled about the Water Lilly Bridge. I don't think TV had approval for the bridge before buying the land.

[CWGUY]

Well, those of us in the purchase/design/construction queue over the past 6 months have seen 2 increases in construction costs totalling about 10 %. Nothing to do with connectivity, but with supply issues in windows and wood.

:coolsmiley: Refreshing to see an intelligent reply. Thank you.

[JohnN]

Real estate across Florida is skyrocketing. It's an attractive state for work-from-home types: lower taxes, lower real estate cost, etc.
The Villages prices are going one way - up.

[Djean1981]

Very true. I noticed this occuring just within the last few weeks.

[Smitty2022]

Lumber prices have doubled and everything else has gone up substantially as well. The developer has no choice but to raise prices. You can google lumber prices and see for yourself.

[Number 10 GI]

Gasoline prices have dramatically increased lately also. Look at what a golf cart goes for now compared to a couple years ago. If the new houses cost more the value of your existing house will also go up.

[VApeople]

Real estate across Florida is skyrocketing. It's an attractive state for work-from-home types: lower taxes, lower real estate cost, etc.
The Villages prices are going one way - up.

Is this post from 2007 when all real estate prices were skyrocketing?

Different tune in 2008 and 2009.

[mvbird]

When the going price of the house you own is going up, it's easy to be happy. Realize, however that the value of what money you have in the bank is also decreasing. Trillions of USD being spent this year could also mean devaluation of the dollar in the future. 'Inflation' is a term easier to accept though.

[Papa_lecki]

Prices are going to rise. FLA is a destination now.
Compared to most NE states, Florida is doing very well with vaccinations. No income taxes.

Wall Street basically moved to Miami - COVID made them realized they don’t need to be in Ny (and pay all those taxes)

TV is a good destination for early 50’s who can work from home. I can get the first tee time on an executive course and be at my desk in 75 minutes.

[Kenswing]

It's just a fact that Florida is where people are moving to. We're getting ready to move to Florida from Washington state. A 26' U-Haul truck from WA to FL is currently $6950. The same truck for the same dates from FL to WA is $1107. All the trucks are going to FL and TX. They just about have to pay people to drive the trucks back to the places people are moving from.

[vintageogauge]

I heard from one of the agents at an open house yesterday that there are going to be 2 more price increases within the next 6 months due to the cost of material, fuel, road impact fees ( they'll tack that on before it even happens), labor, etc. Not only has lumber sky rocketed but metals too. Another thing is they cannot get washers and dryers so these higher priced villas do not have them included. One good thing is we are being told inflation is under control, NOT. The really good thing is if you already own a home it's value too has gone way up.

[Kenswing]

I heard from one of the agents at an open house yesterday that there are going to be 2 more price increases within the next 6 months due to the cost of material, fuel, road impact fees ( they'll tack that on before it even happens), labor, etc. Not only has lumber sky rocketed but metals too. Another thing is they cannot get washers and dryers so these higher priced villas do not have them included. One good thing is we are being told inflation is under control, NOT. The really good thing is if you already own a home it's value too has gone way up.Our house isn't even finished yet and it's probably worth 10% more than we paid for it. We snuck in just under the wire before the recent price increases took effect.

[MickeyStevens]

Cost of building homes is up everywhere due to the cost of materials. I talked to a neighbor this morning his friend is building in North Carolina and the price of the in progress home has shot up by about $15k.

[Marathon Man]

I have been watching new home prices in the southern villages for some time. Ever since "connectivity" became a reality, a lot of those prices have skyrocketed. Not just a couple thousand dollars, but tens of thousands. Small patio villas under 1000 square feet were in the 160-170,000 range. There are, as of today, 25 under 200,000 and many more above that. "Regular" patio villas, over 1100 square feet, go for $225,000 and up. Cottages, verandas and designers are going for 20-30,000 more than just a few weeks ago. This has nothing to do with impact fees, it's strictly a result of connectivity. I worry about the affordability of housing here going forward. It is, of course, good news for those of us who already own.

Looks like not.

[FG111]

Our house isn't even finished yet and it's probably worth 10% more than we paid for it. We snuck in just under the wire before the recent price increases took effect.


The price of your home is not worth 10% more. Your home is worth what someone is willing to pay for the home. When your home resales, that price will become what your home is worth. Real Estate 101...

[rustyp]

I have been watching new home prices in the southern villages for some time. Ever since "connectivity" became a reality, a lot of those prices have skyrocketed. Not just a couple thousand dollars, but tens of thousands. Small patio villas under 1000 square feet were in the 160-170,000 range. There are, as of today, 25 under 200,000 and many more above that. "Regular" patio villas, over 1100 square feet, go for $225,000 and up. Cottages, verandas and designers are going for 20-30,000 more than just a few weeks ago. This has nothing to do with impact fees, it's strictly a result of connectivity. I worry about the affordability of housing here going forward. It is, of course, good news for those of us who already own.

The proper way to respond to this cause and effect hypothesis is to analyze the cost of housing across large regions Vs. TV over the past year. I suspect the hypothesis of connectivity will yield an R square not worthy of placing a bet.

[vintageogauge]

The price of your home is not worth 10% more. Your home is worth what someone is willing to pay for the home. When your home resales, that price will become what your home is worth. Real Estate 101...

And they're selling fast and high both new and used.

[Kidsmith77]

We are another relocation from California. We knew we were moving to TV and had an area selected where we wanted to be. We came out to TV for NY (family member living there already) and found a house NY Eve morning. Met agent within the hour, put an offer in and accepted. We had not anticipated to find a house on vacation so were still in shock when we got home that we had pulled the trigger. But as stated here, we could see prices increasing and needed to make that decision quickly. Preparing CA house to sell which agent says will go quickly with multiple offers - currently it's a seller's market due to low inventory. We can't wait to get to our new home!

[justjim]

Prices of homes across Florida show significant price increases and very low inventory. For example, inventory along the space coast (Cape Canaveral/Cocoa Beach) is down to less than last months sales. I have a family member who is a Realtor in that area and she worries about losing Agents because there are so few homes and Condos to sell. I read about the building materials shortage a couple of weeks ago and the shortage is for real and could get worse. Low interest rates, is causing a true “Sellers Market” and in some places homes are selling for more than the asking price. The bridge connecting the south villages by golf cart to the north villages and completion of Magnolia Plaza certainly won’t slow new home sales. Resales between 466 and Rt 44 have been rapidly selling too. Where this goes from here is anybody’s guess. We will just have to wait and see.

[Boomer]

This is going on everywhere, and it’s being caused by a mix of things — most of which have already been mentioned in this thread.

Emotion is a player in many real estate transactions, but this time it seems like the emotional component is a bigger part than usual.

Who would have ever thought that a pandemic would make people want to move.

Inventories in places other than TV are practically non-existent. First-time homebuyers are paying through the nose for houses that would have cost a whole lot less before 2020 — that’s if they can find one. Bidding wars are raging.

Those in bigger homes who might be ready to sell are hesitant. Although their homes might sell fast, they better have some place to go. (Maybe this is part of what is driving the TV market because there is always a house to buy.)

There is something eerie about the current national real estate market. This cannot go on forever. The RE market needs to take a breath before it grows some economically dangerous, far-reaching arms and legs.

I hope homeowners are not too quick to borrow against what could be phantom equity. Remember that term “underwater mortgages”?

We are a nation of amnesiacs. (sigh)

Cassandra Boomer

[geofitz13]

I stand corrected and educated. All good, sensible answers. Thanks!

[Cobullymom]

I have been watching new home prices in the southern villages for some time. Ever since "connectivity" became a reality, a lot of those prices have skyrocketed. Not just a couple thousand dollars, but tens of thousands. Small patio villas under 1000 square feet were in the 160-170,000 range. There are, as of today, 25 under 200,000 and many more above that. "Regular" patio villas, over 1100 square feet, go for $225,000 and up. Cottages, verandas and designers are going for 20-30,000 more than just a few weeks ago. This has nothing to do with impact fees, it's strictly a result of connectivity. I worry about the affordability of housing here going forward. It is, of course, good news for those of us who already own.
It’s not a bridge, it’s the cost of construction materials...they have increased significantly in the last couple of months. They will continue to increase thanks to future taxes, rising fuel costs imposed on companies as well....

[Veracity]

If the new houses cost more the value of your existing house will also go up.

If the value of your existing home goes up, the county will also increase its assessed value, which will result in higher property taxes.

[lkagele]

Well, those of us in the purchase/design/construction queue over the past 6 months have seen 2 increases in construction costs totalling about 10 %. Nothing to do with connectivity, but with supply issues in windows and wood.

Some might call that inflation but according to our government, inflation is non-existent.

[dewilson58]

It's just a fact that Florida is where people are moving to. We're getting ready to move to Florida from Washington state. A 26' U-Haul truck from WA to FL is currently $6950. The same truck for the same dates from FL to WA is $1107. All the trucks are going to FL and TX. They just about have to pay people to drive the trucks back to the places people are moving from.
Can you rent it from FL to WA & just drive backwards??

[Girlcopper]

I have been watching new home prices in the southern villages for some time. Ever since "connectivity" became a reality, a lot of those prices have skyrocketed. Not just a couple thousand dollars, but tens of thousands. Small patio villas under 1000 square feet were in the 160-170,000 range. There are, as of today, 25 under 200,000 and many more above that. "Regular" patio villas, over 1100 square feet, go for $225,000 and up. Cottages, verandas and designers are going for 20-30,000 more than just a few weeks ago. This has nothing to do with impact fees, it's strictly a result of connectivity. I worry about the affordability of housing here going forward. It is, of course, good news for those of us who already own.
Its been in the news everyday that its a sellers market right now. Prices have gone up ALL over. The Villages isnt special. Just today the news said how people from the NE are flocking to Florida and other southern states. NYC is a dead community and people are leaving in droves

[jonathanb]

I am a retired Villages sales rep. I told everyone back in early 2017 who thought building in Fenney was crazy I said prices will skyrocket. They thought I was crazy. So in July of 2017 we built our house in Fenney and sold it in 2019 for a 30% profit. Then I still told everyone there’s still time. We bought our second home in Linden and sold one year later for a 25% profit. Now in Bradford. Probably make some on this one in a couple years but the big window for huge profits has shut. Southern oaks is connected and shopping center built. Just a beautiful place to live

[Tmarkwald]

It's just a fact that Florida is where people are moving to. We're getting ready to move to Florida from Washington state. A 26' U-Haul truck from WA to FL is currently $6950. The same truck for the same dates from FL to WA is $1107. All the trucks are going to FL and TX. They just about have to pay people to drive the trucks back to the places people are moving from.

That's pretty seasonal. Wait until later in the year.

[J1ceasar]

Prices up means inflation . Just look at the price of standard items if you buy in the supermarket like Chuck meat, salmon, eggs, all of these are up significantly, I am not going to complain about which party did this, this is ongoing when people give out free money and print we've become like Venezuela the value of your dollar is worthless compared to the stock market going up. It's a falsehood when you certainly have $2 whereas you had $1 before and of course you the same thing to buy eggs at two dollars a dozen when it used to cost $1 a dozen if you believe you made a profit it's all in your head

[sasman29]

Another reason prices rising is availability of materials. With many factories slowing down

[J1ceasar]

Whether you live in The villages or right outside the bubble prices from 10 years ago have gone up about 250% for homes. This is a massive inflation and it's no good for people on fixed incomes. If I sold my house today that means I can only buy a house similarly sized. In other words eggs that used to be 99 cents a dozen are now much more and my dollar is really worth less. Back in sixties ,I remember my father buying his first house. It cost him one half of his yearly salary. Years later when I was buying my home with my wife , it cost me two times my salary. The only good thing today is I interest rates are still three or four percent for a mortgage compared to 13% way back when I got a mortgage I don't know how I did it. I am truly scared that the world will eventually go into an interest spiral. Virtually all of the countries will declare bankruptcy and get rid of their bonds like Russia did. Right now the USA spends about 10% on the interest alone of the government's debt. Can you imagine if we had to spend another one or two trillion dollars a year out of our budget and what would have to be cut? That is why I feel all of this free money is crazy

[txfan]

The price of your home is not worth 10% more. Your home is worth what someone is willing to pay for the home. When your home resales, that price will become what your home is worth. Real Estate 101...

Common Sense 101: We know what he meant in the context of the thread. Our new home “appraised” for almost 10 percent more than the build price in November.

[Neils]

Economics 101
Worth a quick review

[Syd2008]

Close to new town entertainment square and championship golf courses. 20 year old villas up north same price $210+.
LLL.

[sallyg]

Haven't seen a patio villa for $160,000 since about 2015. It's the Villages, prices always go up, and houses continue to sell like hotcakes.

[George Makrauer]

I have been watching new home prices in the southern villages for some time. Ever since "connectivity" became a reality, a lot of those prices have skyrocketed. Not just a couple thousand dollars, but tens of thousands. Small patio villas under 1000 square feet were in the 160-170,000 range. There are, as of today, 25 under 200,000 and many more above that. "Regular" patio villas, over 1100 square feet, go for $225,000 and up. Cottages, verandas and designers are going for 20-30,000 more than just a few weeks ago. This has nothing to do with impact fees, it's strictly a result of connectivity. I worry about the affordability of housing here going forward. It is, of course, good news for those of us who already own.

Here's some info on the huge increase in lumber prices:
Lumber prices 2021 chart: Price of lumber up 188% amid wood shortage as home prices jump. When will prices go down? | Fortune (https://fortune.com/2021/03/20/lumber-prices-2021-chart-when-will-wood-shortage-end-price-of-lumber-go-down-home-sales-cost-update-march/)

[vintageogauge]

Haven't seen a patio villa for $160,000 since about 2015. It's the Villages, prices always go up, and houses continue to sell like hotcakes.

You evidently weren't around in 2017 and 2018 when they were selling new Patio Villas in Fenney well below $160,000.00

[NoMo50]

A new home on our street, South of SR44, recently sold. The new buyers were told TV is now running 60 day closings, as opposed to 30. This was a result of so many homes being sold, and everyone in the closing process chain being backed up. Yes...the cost of construction materials has an impact on pricing, and so does hyper demand.

[richs631]

I have been watching new home prices in the southern villages for some time. Ever since "connectivity" became a reality, a lot of those prices have skyrocketed. Not just a couple thousand dollars, but tens of thousands. Small patio villas under 1000 square feet were in the 160-170,000 range. There are, as of today, 25 under 200,000 and many more above that. "Regular" patio villas, over 1100 square feet, go for $225,000 and up. Cottages, verandas and designers are going for 20-30,000 more than just a few weeks ago. This has nothing to do with impact fees, it's strictly a result of connectivity. I worry about the affordability of housing here going forward. It is, of course, good news for those of us who already own.

I’m sure the connectivity has something to do with it but the prices of building materials is through the room. No pun intended

[Carla B]

DIL is a realtor in the San Antonio area. Another realtor she talked to was involved with a house that attracted 91 offers! So, the market is crazy in other places, too.

[DAVES]

I have been watching new home prices in the southern villages for some time. Ever since "connectivity" became a reality, a lot of those prices have skyrocketed. Not just a couple thousand dollars, but tens of thousands. Small patio villas under 1000 square feet were in the 160-170,000 range. There are, as of today, 25 under 200,000 and many more above that. "Regular" patio villas, over 1100 square feet, go for $225,000 and up. Cottages, verandas and designers are going for 20-30,000 more than just a few weeks ago. This has nothing to do with impact fees, it's strictly a result of connectivity. I worry about the affordability of housing here going forward. It is, of course, good news for those of us who already own.

We all tend to focus on one thing. Nothing is ever that neat. Wherever, housing is rising
cost of land is up, cost of lumber is up, cost of labor is up, mortgage money is still at all time lows. Our previous home. We live there for 40 years. We sold it for 6x what we paid for it. WOW till I looked most everything else went up 6x and more over those 40 years.

[Cranford61]

I have been watching new home prices in the southern villages for some time. Ever since "connectivity" became a reality, a lot of those prices have skyrocketed. Not just a couple thousand dollars, but tens of thousands. Small patio villas under 1000 square feet were in the 160-170,000 range. There are, as of today, 25 under 200,000 and many more above that. "Regular" patio villas, over 1100 square feet, go for $225,000 and up. Cottages, verandas and designers are going for 20-30,000 more than just a few weeks ago. This has nothing to do with impact fees, it's strictly a result of connectivity. I worry about the affordability of housing here going forward. It is, of course, good news for those of us who already own.
The homes in the Historical area are still reasonable.

[OhioBuckeye]

Home prices have sky rocketed since interest rates are 2 & 3%. So house prices are really up. People that sell their homes go fast because houses are in big demand. Here in Texas they sell within 3 weeks my granddaughter in Ohio sold their home in a week. So if you want to buy a home in TV, buy quick!

[stebooo]

Please explain connectivity ad it relates to this situation.

[SusanStCatherine]

We put a deposit down on a St. Catherine lot in November. We started our design in February and the price increased by $20k. I believe once design starts the price is locked unless you want a redesign. Material cost was given as reason for price increases.

[cj1040]

We have been in our custom house on a pond with a pool for a month. We went to an open house farther down our street priced higher than our house just to compare. It had neither a pool or a pond and 3 BR compared to our 4 BR. We mentioned this to the realtor and he said there have been 2 large price increases in lumber and other building materials just recently....so, it appears that we have already made back our investment in only a month!!!

[Elkiehound]

A new home on our street, South of SR44, recently sold. The new buyers were told TV is now running 60 day closings, as opposed to 30. This was a result of so many homes being sold, and everyone in the closing process chain being backed up. Yes...the cost of construction materials has an impact on pricing, and so does hyper demand.

60 days is still short. Over at Latitude Hilton Head or Daytona it’s 14 months!

[Keninches]

Check your tax assessment, it’s already gone up.

[Stu from NYC]

Wonder if the builders protect themselves with long term contracts for big ticket items like lumber or concrete?

[Villages Kahuna]

I was talking with a guy from the commercial pool maintenance firm which services most of the Rec center and country club pools (he has 107 that he services each week).

He said that people who are trying to get a pool built at their homes are having to wait 3-4 months just to get a proposal from one of the “good” pool construction firms. Then he said that what is being quoted for a simple, standard 14 by 30 pool is between $65-70,000. And he said that’s for a bare bones hole-in-the-ground pool with pump and filter. Doesn’t include heater, auto-filler or the birdcage over the pool. He was aghast at the price and that people were lining up to sign contracts.

I have a pool and about 6-8 years ago I had T&D add a ‘spill-over’ spa and summer kitchen at one end, extending the existing birdcage by about a third. I recall the cost as being about $22k for that extensive addition. Back then you could get a new pool and birdcage built for about $30-35k as I recall.

Sounds like prices have skyrocketed. Someone’s earlier recommendation to re-read your Economics 101 textbook is good advice. When demand outstrips supply, prices will absolutely increase. That’s the factor which will cause the re-balancing of supply and demand. Forget about arguing the inequities where all the money from the raised prices will go (profits to the companies supplying whatever is in high demand). The undeniable economic fact is that when demand is much higher than supply, prices will increase.

[DaleDivine]

:popcorn::bigbow::popcorn:

[CoachKandSportsguy]

There are two types of inflationary forces, supply constrained and demand increase. There are two types of inflationary measures, products and labor services. Currently the US is experiencing both forces in the product measure, and much less in the labor or services. in the last 40 years, there has been a large reduction and low persistence in the product measure, mostly due to manufacturing quality and efficiency increases. the labor measure has been subdued but steady growth until the 2008 GFC due to the deflationary effects of technology, which is really devastating and the principle source of wealth inequality, where knowledge and capital owners' wealth is increasing much faster than the labor class wealth.

So, first, trader? short as much as you can of TLT, over the next three months only. Why? Because there will be a HUGE transitory increase in the inflation measure to almost double, from here due to the pandemic basis denominator. For the three months last year Apr -> Jun, the CPI fell, now the cpi is rising at about a 2% annual rate, and the year over year calculation will show inflation at nearly 4%, but it is transitory as that dip goes away over time. So sell bonds, buy TLT puts for a hedge and buy back between May and Jun when inflation peaks out. Now, J Powell knows this is coming and calls it transitory, correct, and won't do anything special, and the markets will go crazy negative, especially in bonds.

So house prices are up due to
* materials increase for new construction
* increase demand for suburban/rural from rural due to pandemic AND remote working combination
* reduction in retirement age for knowledge workers with substantial IRA/401K wealth
* record to near record low interest rates for mortgages
* corporate relocations for lower state taxes and services, requiring employee relocations
* studies have shown the over 65 group fearing the virus have refused to relocate / downsize due to fear of the virus entering their home to be sold.

FInally, below is a forecast graph of how financial inflation is modeled and calculated for the next three months or so with a constant 2% annualized increase month over month. . . Note the huge increase in calculated inflation to nearly 4% year over year,

finance guy

[Koapaka]

:bigbow:Some might call that inflation but according to our government, inflation is non-existent.

DING, DING, DING......WE HAVE A WINNER!

[TimeForChange]

The Turnpike Enterprise and the gas pipeline company were not thrilled about the Water Lilly Bridge. I don't think TV had approval for the bridge before buying the land.

When you have the connections to get approval in your pocket you do not worry about prior approval.

[tophcfa]

I heard from one of the agents at an open house yesterday that there are going to be 2 more price increases within the next 6 months due to the cost of material, fuel, road impact fees ( they'll tack that on before it even happens), labor, etc. Not only has lumber sky rocketed but metals too. Another thing is they cannot get washers and dryers so these higher priced villas do not have them included. One good thing is we are being told inflation is under control, NOT. The really good thing is if you already own a home it's value too has gone way up.

Not if you don't plan on selling your home, the increased accessed value just means you will be paying more for property taxes.

[vintageogauge]

Not if you don't plan on selling your home, the increased accessed value just means you will be paying more for property taxes.

Not if you have the homestead exemption.

[tophcfa]

Not if you have the homestead exemption.

Wrong, your taxes will still go up, just not as much as another homeowner without the homestead exemption.

[vintageogauge]

Wrong, your taxes will still go up, just not as much as another homeowner without the homestead exemption.

I believe in Sumter County they are locked in at a max of 3%

[Laker14]

Lots of good explanations for why housing prices are up. Among them, the feeling of wealth among many who were invested in the US Stock Market. It almost feels like "free money", and if one feels like that train ride might be ending, investing in something more tangible, that enhances one's daily living, makes sense, even if there is a clamor to do so, and a resultant spike in prices. We're old. What? We are going to wait for the next popping of the bubble and scoop up bargains? We might be dead, or too old to enjoy the bounty of our patience.
At least, that's what prompted my recent participation in the game.
I don't expect a huge increase in the value of my property during the time I will own it. Might happen, might not. Doesn't matter to me. It might be nice for my heirs, but that's not what motivates me.

Now, if I could just find some bedroom furniture, that would be nice.

[Papa_lecki]

I was talking with a guy from the commercial pool maintenance firm which services most of the Rec center and country club pools (he has 107 that he services each week).

He said that people who are trying to get a pool built at their homes are having to wait 3-4 months just to get a proposal from one of the “good” pool construction firms. Then he said that what is being quoted for a simple, standard 14 by 30 pool is between $65-70,000. And he said that’s for a bare bones hole-in-the-ground pool with pump and filter. Doesn’t include heater, auto-filler or the birdcage over the pool. He was aghast at the price and that people were lining up to sign contracts.

I have a pool and about 6-8 years ago I had T&D add a ‘spill-over’ spa and summer kitchen at one end, extending the existing birdcage by about a third. I recall the cost as being about $22k for that extensive addition. Back then you could get a new pool and birdcage built for about $30-35k as I recall.

Sounds like prices have skyrocketed. Someone’s earlier recommendation to re-read your Economics 101 textbook is good advice. When demand outstrips supply, prices will absolutely increase. That’s the factor which will cause the re-balancing of supply and demand. Forget about arguing the inequities where all the money from the raised prices will go (profits to the companies supplying whatever is in high demand). The undeniable economic fact is that when demand is much higher than supply, prices will increase.

I called T&D in January to give me an estimate, my appointment is scheduled for August

[Tmarkwald]

DIL is a realtor in the San Antonio area. Another realtor she talked to was involved with a house that attracted 91 offers! So, the market is crazy in other places, too.

It's everywhere - just sold in MD outside DC - list for 505K, 48 hours, 36 showings, stopped showing and sold for 555K. Crazy

[vintageogauge]

Wrong, your taxes will still go up, just not as much as another homeowner without the homestead exemption.

Well there you go, it will take more years than I'll live to pay a tax increase that will come anywhere near the appreciation. Taxes are very cheap down here in comparison to where we came from.

[bilcon]

What is the average bond cost per new designer homes in the new areas? Just wondering.

[STLRAY]

Prices of residential real estate are rising all over the US. It is not unique to TV.

[kstew43]

What is the average bond cost per new designer homes in the new areas? Just wondering.

we have been looking. the average runs from 28K to 42K. The yearly village maintance is also high, $450 to $1100 per year, depending on the area. Also add Wildwood city taxes that ran around $900 to $1300 per year, depending on the home price.

that makes my taxes go up... all I can say is wow.....

[Smalley]

If prices are rising in 2021, would it be smart to rent for a year and postpone purchase to see what the real estate market does? We want to buy north of 466.

[Kenswing]

What is the average bond cost per new designer homes in the new areas? Just wondering.
In St. Catherine it's $32,815. Interest rate of 3.67%. Chitty Chatty is a bit over $41,000.

[rustyp]

In St. Catherine it's $32,815. Interest rate of 3.67%. Chitty Chatty is a bit over $41,000.

Everything is relative. We are brainwashed into the bond is an incidental. Well $32K-$41K buys a pretty nice auto. Probably in the top three purchases most ever make. I don't know about your household but ours has the dining room table conversation before that decision is solidified.

[Kenswing]

Everything is relative. We are brainwashed into the bond is an incidental. Well $32K-$41K buys a pretty nice auto. Probably in the top three purchases most ever make. I don't know about your household but ours has the dining room table conversation before that decision is solidified.
Actually for us it was incidental. No brainwashing about it. We knew up front before buying our lot what the bond cost was going to be. It was a price we were willing to pay to be able to build a house with the design features we wanted. And yes, we spent many a dinner discussing how much we were willing to spend. Where we wanted to build. What we wanted to build and when we wanted to move.

This is a huge life event for us. Not only are we building a house but we also decided to retire. I've sold my business and my wife has given her two week notice. We have sold our house and we're moving about as far as we possibly can while still remaining in the continental U.S. So when taken in context the bond wasn't a big deal to us. :coolsmiley:

[rustyp]

Actually for us it was incidental. No brainwashing about it. We knew up front before buying our lot what the bond cost was going to be. It was a price we were willing to pay to be able to build a house with the design features we wanted. And yes, we spent many a dinner discussing how much we were willing to spend. Where we wanted to build. What we wanted to build and when we wanted to move.

This is a huge life event for us. Not only are we building a house but we also decided to retire. I've sold my business and my wife has given her two week notice. We have sold our house and we're moving about as far as we possibly can while still remaining in the continental U.S. So when taken in context the bond wasn't a big deal to us. :coolsmiley:

Back the bus up here. Are you disclosing you joined TOTV in 2016 and have 6385 posts and don't have a house here. Something doesn't add up - were you renting for 5 plus years ? How much feet on the ground time have you logged here ?

[Kenswing]

Back the bus up here. Are you disclosing you joined TOTV in 2016 and have 6385 posts and don't have a house here. Something doesn't add up - were you renting for 5 plus years ?LOL.. Nope. Don't have a house there yet but will in another 3 weeks. Been there three times on exploratory missions but never rented.

Joined in 2016 to start my research. Heck we weren't planning on retiring until 2024. Circumstances changed so here we come.

[rustyp]

LOL.. Nope. Don't have a house there yet but will in another 3 weeks. Been there three times on exploratory missions but never rented.

Joined in 2016 to start my research. Heck we weren't planning on retiring until 2024. Circumstances changed so here we come.

Congratulations - I have not met anyone who has done more due diligence than you - Welcome home !

[Kenswing]

Congratulations - I have not met anyone who has done more due diligence than you - Welcome home !Remember, a good deal of my posts were about NOTHING.. :1rotfl:

[rustyp]

Remember, a good deal of my posts were about NOTHING.. :1rotfl:

Unless this a total spoof would you mind sharing with us what I'll call your obsession with The Villages and how it developed. When did you first visit - how many hours have you logged here, etc. Of course this could be an entirely new thread. Expand that thought - you probably earned the right to upstage the Villages Newcomers You Tube site. Got to admit following this website for 5 years and becoming a sage sounds like it could have an interesting backdrop.

[Kenswing]

Unless this a total spoof would you mind sharing with us what I'll call your obsession with The Villages and how it developed. When did you first visit - how many hours have you logged here, etc. Of course this could be an entirely new thread. Expand that thought - you probably earned the right to upstage the Villages Newcomers You Tube site. Got to admit following this website for 5 years and becoming a sage sounds like it could have an interesting backdrop.
Well I wouldn't call it an obsession but I am an Engineer so I do tend to analyze/research the heck out of anything I do. Over these past 5 years I've averaged just over 3 posts per day. Not nearly as many as some. More than others. But this is a huge decision so I wanted to make sure I was comfortable with it.

It pretty much started with a Google search of Florida retirement communities. Then went down that rabbit hole. After we decided this was a good fit for us we made our trips down to see if it was too good to be true. When we decided to make the move the next steps in research started. Home models, Village location, where could we build a new home, cost. Then, what were others happy with about their homes. What regrets did they have. What did they wish they had done differently? Who are the good contractors? Who are the ones to avoid. The list of considerations are nearly endless.

Sorry for the thread hijack for those of you that came here for New Home Prices.. :pray:

[justjim]

I called T&D in January to give me an estimate, my appointment is scheduled for August

With a pool only a couple blocks away, a pool in my back yard just wasn’t on my radar when I retired and purchased a home in TV. That said, to each his own.

[vintageogauge]

Congratulations - I have not met anyone who has done more due diligence than you - Welcome home !

And after all of that I hope they get good neighbors and don't end up with a Bed and Breakfast next door which is becoming pretty popular down here. We are fortunate to have good neighbors all around us but when were coming down to look around there were 2 homes we rented that had really terrible neighbors, fighting with each other, parking in front of the other neighbors house just to PO them, one had a dog that barked non stop, etc. That is one thing you cannot foresee and not much you can do about it except move and gamble again.

[Laker14]

LOL.. Nope. Don't have a house there yet but will in another 3 weeks. Been there three times on exploratory missions but never rented.

Joined in 2016 to start my research. Heck we weren't planning on retiring until 2024. Circumstances changed so here we come.

Back the bus up here. Are you disclosing you joined TOTV in 2016 and have 6385 posts and don't have a house here. Something doesn't add up - were you renting for 5 plus years ? How much feet on the ground time have you logged here ?
You have me beat by a mile on number of posts, but I joined TOTV in 2008, and just bought my first home in TV 2 months ago. Visited friends numerous times, and rented for 3 winters before I could convince DW to take the plunge.
We are very happy that we spent the time we did scouting, as we feel we found the perfect location for us based upon our activities and where our friends are, and our new neighbors have been amazing.
The only downer has been the delay in getting furniture due to the combination of COVID production delays and a housing boom. I feel like I'm back in college living with very little furniture.

[CoachKandSportsguy]

Well I wouldn't call it an obsession but I am an Engineer so I do tend to analyze/research the heck out of anything I do. Over these past 5 years I've averaged just over 3 posts per day. Not nearly as many as some. More than others. But this is a huge decision so I wanted to make sure I was comfortable with it.

Being risk adverse, having a linear decision tree logic model, being a process type who doesn't like changes, and having a hard time with conceptual concepts is more like the real reason. . . so the last line in the quote above is the real reason.

I have dealt with many, many of these personality types in my lifetime, everyone in my family of origin except me, most like engineering, not that this choice is special or wrong, but being an engineer is just complimentary to your personality type. . . and OMG, if the situation isn't in the linear process model of familiarity, it takes forever to make a decision. . . even if some can even make the decision.

Glad you finally made the decision. . . now, how is the transition going? other than the furniture. . .

:popcorn::duck::duck:

[rustyp]

Being risk adverse, having a linear decision tree logic model, being a process type who doesn't like changes, and having a hard time with conceptual concepts is more like the real reason. . . so the last line in the quote above is the real reason.

I have dealt with many, many of these personality types in my lifetime, everyone in my family of origin except me, most like engineering, not that this choice is special or wrong, but being an engineer is just complimentary to your personality type. . . and OMG, if the situation isn't in the linear process model of familiarity, it takes forever to make a decision. . . even if some can even make the decision.

Glad you finally made the decision. . . now, how is the transition going? other than the furniture. . .

:popcorn::duck::duck:

Logic tree missing a branch ?

Kenswing is the engineer
Laker14 is sparse on furniture

[Kenswing]

Being risk adverse, having a linear decision tree logic model, being a process type who doesn't like changes, and having a hard time with conceptual concepts is more like the real reason. . . so the last line in the quote above is the real reason.

I have dealt with many, many of these personality types in my lifetime, everyone in my family of origin except me, most like engineering, not that this choice is special or wrong, but being an engineer is just complimentary to your personality type. . . and OMG, if the situation isn't in the linear process model of familiarity, it takes forever to make a decision. . . even if some can even make the decision.

Glad you finally made the decision. . . now, how is the transition going? other than the furniture. . .

:popcorn::duck::duck:
Wow. You gleaned all that from one line in one post? Hilarious. :1rotfl:

I'm nowhere near risk averse. I welcome change. Making a decision and acting on it is quite natural for me. If you'll notice, our original plan was to retire in 2024. I've simply been doing my due diligence. So if you want to spout anymore psycho babble feel free..