The Prices Of Homes Are C R A Z Y !

[Penglobal]

Hello All - I'm Susan, from Lancaster, single and have finally made the decision to buy a home here in The Villages. I'm currently here in The Villages searching for a home and I'm very amazed by the prices of both new and used homes here.

In the new southern area, homes are selling very quickly, supply is low ( compared to last year ) and new homes prices are just crazy. Used home prices are even worse.

How are you guys dealing with the massive increase in home prices within The Villages?
Should I wait until the prices stabilize?

I can't believe that a new house I saw three years ago when Fenny first became developed is now on sale on the used home market for 40% more in just three years !

I have no idea what to do, please help. Thank You Susan of Lancaster

[dewilson58]

Prices in TV have not and will not drop...............now having said that, sh^t happens.

I can't imagine, waiting will save you money.

Obviously there is a material shortage and this is creating upward pressures, but even with the supply chain catches up, I doubt prices will drop in TV.

Good Luck.

[VApeople]

Yeah, instability makes it very hard to make good long term decisions.

In 2006, housing prices were increasing, but that stopped in 2007. Houses decreased in value and a lot of people just walked out of their house and mailed the keys to the bank. It was called "jingle mail".

You can read what the learned Economists say about the financial situation in our country and what the future holds, but then you have to remember that if you put all of the Economists end-to-end around the world, they would not reach a conclusion.

Another poster said the peak baby-boom year in America was 1958, which means those babies are now 63 years old and looking for a place to retire. Maybe that is why so many perple are moving to The Villages.

[Bill14564]

Prices in TV have not and will not drop...............now having said that, sh^t happens.

I can't imagine, waiting will save you money.

Obviously there is a material shortage and this is creating upward pressures, but even with the supply chain catches up, I doubt prices will drop in TV.

Good Luck.

How did TV home prices do in the 2008 timeframe? (I've tried looking but haven't found the info yet) I know my house up north lost quite a bit of assessed value during that time.

Prices are currently affected by the pent-up demand from Covid, increased price of building materials, and extra money in savings due to having nowhere to spend it in the last year. I wonder what will happen if material prices drop, will prices come down or will profits increase? How about when the post-Covid shuffle slows and inventory begins to rise? It will be interesting to watch.

[Stu from NYC]

Sorry but my crystal ball has broken

[karostay]

Patients the bubble will bust all the hot air in the mid Atlantic state it's unenviable

[Nucky]

Don't wait. Trust me. Now is the time. Just do it!

[EdFNJ]

We sold our relatively small 50yr old 3/1.5 home in NJ 3 years ago for $295K. That buyer just (3 months ago) resold it for $450K in an area I would never now bring up my children! The furnished 2/2 stick built home we bought here for $170K 3 yrs ago is now going for $250K bare (identical home next door with original everything down to the $10 ceiling fixtures w/zero improvements). It all evens out in the end. Get more for yours, pay more for the next.

[2newyorkers]

How did TV home prices do in the 2008 timeframe? (I've tried looking but haven't found the info yet) I know my house up north lost quite a bit of assessed value during that time.

Prices are currently affected by the pent-up demand from Covid, increased price of building materials, and extra money in savings due to having nowhere to spend it in the last year. I wonder what will happen if material prices drop, will prices come down or will profits increase? How about when the post-Covid shuffle slows and inventory begins to rise? It will be interesting to watch.

We bought our TV home in 2005. Even in 2008 we never loss the original value of house and if we had sold would have still made a slight profit.

[manaboutown]

Hello All - I'm Susan, from Lancaster, single and have finally made the decision to buy a home here in The Villages. I'm currently here in The Villages searching for a home and I'm very amazed by the prices of both new and used homes here.

In the new southern area, homes are selling very quickly, supply is low ( compared to last year ) and new homes prices are just crazy. Used home prices are even worse.

How are you guys dealing with the massive increase in home prices within The Villages?
Should I wait until the prices stabilize?

I can't believe that a new house I saw three years ago when Fenny first became developed is now on sale on the used home market for 40% more in just three years !

I have no idea what to do, please help. Thank You Susan of Lancaster

From what I have read and heard when the housing bubble burst around 2006-2008 the sales of new homes in The Villages slowed down some and existing homes held their value far better than homes in most of the rest of the country. IMHO sales in TV slowed only because folks were unable to sell their homes elsewhere for a reasonable price, if at all. Thus, they could not buy in TV and move.

Homes prices in most of the country have gone through the roof. I bought a second home in Northern Idaho for $390K in 9/2017. Zillow now says it is worth $663K, an increase of 70% in less than four years.

[Michread]

Susan,

To our surprise we bought a new home, because it was cheaper than an older home. We got lucky and bought in October 2020 when inventory was high because everyone was afraid. That was the time to buy, you missed it.

None of us are going to live forever, so buy now before prices continue to go up. Just buy, a smaller home that is in your budget.

Best of luck!

[JoMar]

Was just in Lititz with family.....same conversation up there. Met a friend in Montgomery County, her nephew made an offer of 90K over asking price and it was rejected. If you're not buying an investment property but a place to live, time to move forward and start the next chapter.

[Mortal1]

Blah, blah, blah...no one actually knows...if they did they would invest and make zillions. When it comes to many things in life(most everything)then nothing is certain...you throws the dice you take your chances. No guarantees. Such is life.

[Kelevision]

I bought here in Hawkins 2 months ago and there were a bunch of new houses under 200,000. I watched about 3 neighborhoods sell out back in April when i bought my CYV. Now it seems they don’t have much inventory. I’d say wait until a new neighborhood opens up and buy what you’re looking for right away.

[patfla06]

I agree with you.
However the only one who will eventually appreciate this is our Son. 😉

I personally would not buy now.

[CoachKandSportsguy]

First, your question about how most posters here who own their houses are dealing with it, I would say we are taking very good care of the house, enjoying the area, as we aren't really looking to move again.

Now, housing prices do not go up at this rate forever, they go up more than they go down, but there will be opportunities. I recommend still renting and watching and working with a broker who knows your situation and will help you get what you are able to afford. Knowing what you can afford is the key, and you might not be able to get what you want at the moment, but work for what you can afford. . . . or negotiate a really affordable long term lease and save your money while waiting for the market to cool off a bit.

The only reason we bought 2 1/2 years ago, is that I did not buy a house in a similar situation with a new development in the early 80s, and then just watched the home prices continue to go up and up. . . so I had learned that sometimes taking an early risk is worth it. But then again, my wife bought our current house in 2004 and the house (not mortgage) was underwater for about 15-16 years. . . always, always, always is the future is uncertain. best also work with a CFP to help figure out how to re arrange your finances to help you maximize your situation. . .

good luck

[Toymeister]

Practically speaking, there is one and only one way that you can get a home below market value and the chances of that are extremely slim.

The first buyer of a new home cannot sell the home in less than a year for more than the purchase price plus improvements.

If this happens it isn't likely that the home listing will ever leave the real estate office, either a real estate agent will buy it or they will feed the listing to a lucky customer.

That said it does happen, this is how we purchased our home. In our case the home was on the higher end (fewer buyers at higher price points) so it did make it to the open market. We have experienced 50.3% appreciation in 18 months.

I was the poster that said the peak birth year for baby boomer was 1958. Statistically, it is only slightly lower each consecutive year. Demand will remain high for 55+ communities especially while their perceived wealth from the equity in their primary home has skyrocketed with any mutual funds based on the stock market.

[daniel200]

Much of the pricing has to do with record low interest rates. The majority of home buyers are taking out a mortgage. Low interest rates makes buying a home more affordable for more people. This increases demand and prices.
IF interest rates were to rise and drive mortgage interest back to 4 or 5 or 6%, there would be far fewer buyers for $500,000 homes. Prices would drop.
I have no idea if interest rates will rise in the near future. However, interest rates can not drop much lower as the 10 year US treasury is today at 1.4%

[Garywt]

I have not looked for a month or 2 but there were a good number of Villas in the $200,000+/- range just as there were 2 years ago. We bought a Villa 2 years ago and love it. Our house up north was $215000 26 years ago, $450,000 2-3 years ago and about $750000 now so prices are crazy everywhere. If we could sell up north we would be in great shape but we can’t. With building materials up so much who knows if prices will ever come down.

[Laker14]

IMO, you shouldn't worry about what has happened to prices in the last year, or two, or three. What you should consider is can you afford it? Do you want to live in TV enough to pay the price?
What if the value goes down a bit? Does that matter? Are you buying as a monetary investment, or as an investment in the quality of life for you over the next decade or two?

[Papa_lecki]

Prices won’t improve. Here’s why, more people will retire over the next 3 to 5 years and more people close to retirement realized over the last year work from home can mean working from The Villages. You sell your house at home at a HUGE profit, making a house in the Villages a bargain.

[Penglobal]

IMO, you shouldn't worry about what has happened to prices in the last year, or two, or three. What you should consider is can you afford it? Do you want to live in TV enough to pay the price?
What if the value goes down a bit? Does that matter? Are you buying as a monetary investment, or as an investment in the quality of life for you over the next decade or two?

Hello and thanks, but I disagree with your point of view in that most of us are ARE buying a home as a monetary investment and just because I can afford the current high home prices, it doesn't make it any easier to pay these outrageous prices. I worked and saved all my life NOT to throw money away.

[RICH1]

By the time you scroll down to read this, the houses have appreciated 5%... seriously if housing is appreciating in the rest of the country , why would it not here in TV? The Low prime interest rate should fuel the flames!

[Rwirish]

Don’t move, stay where you are.

[Girlcopper]

Blah, blah, blah...no one actually knows...if they did they would invest and make zillions. When it comes to many things in life(most everything)then nothing is certain...you throws the dice you take your chances. No guarantees. Such is life.
Exactly right! Bubble or no bubble, the prices will continue to rise and then level off. They will not decrease. So, if you can afford it, buy whenever you want. If you cant, stay put where you are. Simple

[Girlcopper]

Hello and thanks, but I disagree with your point of view in that most of us are ARE buying a home as a monetary investment and just because I can afford the current high home prices, it doesn't make it any easier to pay these outrageous prices. I worked and saved all my life NOT to throw money away.
Then dont throw it away and dont buy if you feel you cant afford it

[l2ridehd]

Real Estate prices always have been cyclical. But have also always been on an upward slope. This peak is higher then the last peak and the next drop will not be as low as the last drop. The down side of buying in a peak is very limited selection. That will change when we get past this peak and prices stabilize. Selection will be much better but I doubt prices will be much lower. So if you can find what you want in this crazy market, buy it. I would not settle for something just to buy now. Availability will improve a lot over time, prices not so much. So if you can’t find pretty close to what you want, rent and wait it out.

[thevillagernie]

then don't buy....this is america

[Bay Kid]

The value of the dollar has been beaten up this year. Like the home prices in TVs the value will not get any better. Buy now if looking.

[Flgagg]

The housing market is crazy everywhere not just in The Villages. I was lucky and purchased in April right before the inventory of homes dried up. I wanted a resale to avoid paying a bond. I have several friends who haven’t been that lucky. On couple sold their home, went to SC to buy and found they can’t find one in their price range. The prices have gotten too high. They are living in a RV now. Another friend sold their home, went to NC, and have ended up buying a piece of land and are building because although materials are expensive, it is cheaper. Plan ahead…….

[Skunky1]

You may want to consider working with a Realtor and focus on pre owned houses without a bond

[terenceanne]

We could not afford to buy our own house right now. The days of selling your house up north and moving to Florida into a cheaper house and pocket the profits are long gone unfortunately.

[B-flat]

The housing market is crazy everywhere not just in The Villages. I was lucky and purchased in April right before the inventory of homes dried up. I wanted a resale to avoid paying a bond. I have several friends who haven’t been that lucky. On couple sold their home, went to SC to buy and found they can’t find one in their price range. The prices have gotten too high. They are living in a RV now. Another friend sold their home, went to NC, and have ended up buying a piece of land and are building because although materials are expensive, it is cheaper. Plan ahead…….

Flgagg, I noticed you were at Elgin AFB and that’s some of the reason I’m quoting you. I have a long time friend who lives in the area of Eglin. His neighbor sold her home thinking she could take a bit a geographical cure so to speak. Turns out she cannot find another home nor could she even afford to purchase the home she sold last year. Your examples of your friends I believe is happening more often than not in 2021.

[Laker14]

IMO, you shouldn't worry about what has happened to prices in the last year, or two, or three. What you should consider is can you afford it? Do you want to live in TV enough to pay the price?
What if the value goes down a bit? Does that matter? Are you buying as a monetary investment, or as an investment in the quality of life for you over the next decade or two?

Hello and thanks, but I disagree with your point of view in that most of us are ARE buying a home as a monetary investment and just because I can afford the current high home prices, it doesn't make it any easier to pay these outrageous prices. I worked and saved all my life NOT to throw money away.

I wasn't making the point that nobody is buying a house as a monetary investment, I was asking specifically if that was the intention at this point. Who knows how buying anything right now will work as a monetary investment? Not me, not you, not anyone.

My point was that if buying now, at the current prices is affordable, and one has reached the point in life where quality of life is more important than getting a bargain, one shouldn't beat themselves up over not having done it 2 years ago, because that train has left the station. Certainly, however, if buying a home now feels like "throwing one's money away", one shouldn't do it.

I wish I'd bought Apple stock when my dad suggested it to me about 20 years ago. I didn't. That doesn't mean it wasn't a good buy 12 years ago, or 8 years ago, or 5 years ago. You can only do what makes sense to you right now, and not agonize over opportunities missed because you didn't have a Stu's crystal ball, (which by the way, he says is broken now anyway).

[mrf6969]

How did TV home prices do in the 2008 timeframe? (I've tried looking but haven't found the info yet) I know my house up north lost quite a bit of assessed value during that time.

Prices are currently affected by the pent-up demand from Covid, increased price of building materials, and extra money in savings due to having nowhere to spend it in the last year. I wonder what will happen if material prices drop, will prices come down or will profits increase? How about when the post-Covid shuffle slows and inventory begins to rise? It will be interesting to watch.
In south Florida the home prices then plummeted as high as 50%. In TV the hit was only 10%.

[Pres1939]

Hello All - I'm Susan, from Lancaster, single and have finally made the decision to buy a home here in The Villages. I'm currently here in The Villages searching for a home and I'm very amazed by the prices of both new and used homes here.

In the new southern area, homes are selling very quickly, supply is low ( compared to last year ) and new homes prices are just crazy. Used home prices are even worse.

How are you guys dealing with the massive increase in home prices within The Villages?
Should I wait until the prices stabilize?

I can't believe that a new house I saw three years ago when Fenny first became developed is now on sale on the used home market for 40% more in just three years !

I have no idea what to do, please help. Thank You Susan of Lancaster
The Prices of Homes are CRAZY!
You can feel that, but the solution is NOT to wait, unless you think prices will be less later. Current trends indicate The Villages is increasingly popular. If you buy now, you are likely to be very happy with the value of your house in subsequent years. I am a new home owner here, and have no regrets.
Pres

[matandch]

Lancaster? Pa?

[Villages Kahuna]

I have friends who had sold their Lantana on a cul-de-sac in Mallory for full price in July, 2020. The new buyers had to move back north and listed the house about three weeks ago.They had 11 showings and 3 offers on the first day. They sold it for $165,000 more than they purchased it for 18 months ago!

If this is an example of the pricing of homes in The Villages, it would seem prudent to wait until supply caught up with demand before deciding to move here.

[KYtoTV2021]

Patients the bubble will bust all the hot air in the mid Atlantic state it's unenviable

The dog must have written this. He doesn't have spell-check on his computer. LOL

[sallyg]

Prices in the Villages only seem to go up. Granted this rise is a bit steep. If you are sure you want to buy here, know the area you want to live, you probably shouldn't wait. Good luck.

[La lamy]

We could not afford to buy our own house right now. The days of selling your house up north and moving to Florida into a cheaper house and pocket the profits are long gone unfortunately.

Not long gone for me up north. Sold my condo for $1000 per sq foot and some homes here can be as low as $130 per sq foot. Huge bargain and no snowstorms!

[MandoMan]

Hello All - I'm Susan, from Lancaster, single and have finally made the decision to buy a home here in The Villages. I'm currently here in The Villages searching for a home and I'm very amazed by the prices of both new and used homes here.

In the new southern area, homes are selling very quickly, supply is low ( compared to last year ) and new homes prices are just crazy. Used home prices are even worse.

How are you guys dealing with the massive increase in home prices within The Villages?
Should I wait until the prices stabilize?

I can't believe that a new house I saw three years ago when Fenny first became developed is now on sale on the used home market for 40% more in just three years !

I have no idea what to do, please help. Thank You Susan of Lancaster

The chief way people afford houses here is buying them ten or twenty years ago. Then, if they want to move elsewhere in The Villages, as their home has gained in value, maybe even doubling, they can afford the upgrade. Lots of people come here and pay cash for homes because they sold their home elsewhere after owning it a couple decades and had a lot of equity to put on a new home.

Or say you are married, and you and your spouse each earned $75,000 a year, and combined, you now have $5,000 a month in Social Security. If you also have a couple hundred thousand in home equity, you can afford most houses in The Villages with a mortgage. Or say you are single and have $3,000 a month in Social Security and a pension of $2,000 a month. Again, if you have owned a home for years and have a lot of equity, you can afford most homes here.

If you are single and have $2,000 a month in Social Security and no home equity and no pension or investments, then it would be very difficult to live here. There are plenty of people here who live on that, but they moved here years ago and live pretty frugally. Also, a lot of people take jobs as, say, waitresses or check-out clerks or guards at the gates or at the front desks in recreation centers. Many clear $1,000 to $2,000 a month that way and enjoy the activity and meeting people. Some do that into their eighties.

[J1ceasar]

You do realize there are plenty of other Senior communities besides the villages? Just four miles west of Brownwood is a perfectly wonderful place called Pennbrooke Fairways with 27 holes of golf. 1200 homes and the people are very nice. Homes here are anywhere from $150,000 to $300,000. You don't get free call for life but you save $100 to $200,000 on a house and the HOA fees include cable and internet which will save you another $1,000 a year at least.

[Ptmckiou]

The thing about TV is that there will always be people retiring. It’s nonstop and it keeps TV in demand. In 2008 sales slowed, but prices didn’t really drop much. If you want to live here, you buy now. Our new houses closes escrow early July. We bought it on a zoom call walk-thru with our realtor, who notified us within 2 hours of it going on the market. You have to be ready to move FAST! When we finally made it here and saw the house we bought, it was even more beautiful than the pictures! However, that same floor plan increased in price by $60K, just during the 6 months we have been watching the homes here. We almost were priced out of that floor plan and had to stretch our budget in the end to get it. The great thing about newly built homes in TV, is the price is the price. No haggling. If you buy a resale home, be prepared to go way over asking price to get in a bidding war.

[JMintzer]

Hello and thanks, but I disagree with your point of view in that most of us are ARE buying a home as a monetary investment and just because I can afford the current high home prices, it doesn't make it any easier to pay these outrageous prices. I worked and saved all my life NOT to throw money away.

Most living here did not buy "as an investment"...

They bought a place to spend their "golden years" in comfort and in the lifestyle they wanted...

If your house appreciates, what are you going to do with the money? Other than give it to your kids/grandkids?

Last I checked, I've never seen a Brinks truck in a funeral procession...

Buy what you can afford, let the market do what it does...

[richs631]

Hello All - I'm Susan, from Lancaster, single and have finally made the decision to buy a home here in The Villages. I'm currently here in The Villages searching for a home and I'm very amazed by the prices of both new and used homes here.

In the new southern area, homes are selling very quickly, supply is low ( compared to last year ) and new homes prices are just crazy. Used home prices are even worse.

How are you guys dealing with the massive increase in home prices within The Villages?
Should I wait until the prices stabilize?

I can't believe that a new house I saw three years ago when Fenny first became developed is now on sale on the used home market for 40% more in just three years !

I have no idea what to do, please help. Thank You Susan of Lancaster

IMO I would not buy a home now but that easy for me to say because I’m already here You can wait, but more than likely your home up north has also increased in value

[Bogie Shooter]

You do realize there are plenty of other Senior communities besides the villages? Just four miles west of Brownwood is a perfectly wonderful place called Pennbrooke Fairways with 27 holes of golf. 1200 homes and the people are very nice. Homes here are anywhere from $150,000 to $300,000. You don't get free call for life but you save $100 to $200,000 on a house and the HOA fees include cable and internet which will save you another $1,000 a year at least.

West??

[DAVES]

Hello All - I'm Susan, from Lancaster, single and have finally made the decision to buy a home here in The Villages. I'm currently here in The Villages searching for a home and I'm very amazed by the prices of both new and used homes here.

In the new southern area, homes are selling very quickly, supply is low ( compared to last year ) and new homes prices are just crazy. Used home prices are even worse.

How are you guys dealing with the massive increase in home prices within The Villages?
Should I wait until the prices stabilize?

I can't believe that a new house I saw three years ago when Fenny first became developed is now on sale on the used home market for 40% more in just three years !

I have no idea what to do, please help. Thank You Susan of Lancaster

No one can answer what is a reasonable question to ask. We went through it with our previous home. We bought it 40 years ago. We put down what my parents paid for a home roughly twice the size of what we bought. Our mortgage was 8.75%. I remember saying thinking it will never go up from what we paid. We sold it before buying in the villages for six times what we paid.

Woulda, shoulda, coulda, mighta. We, I could say the same thing about stocks and so many other things.

People tend to focus on one thing at a time such as the rise in price for a home in the villages. If, you own a home in Pennsylvania and plan on selling that , that too has gone up.

We have friends in the Pocanoes, or however it is spelled and they are happy. You can be happy or miserable anywhere.

[merrymini]

Do your math. The market does not change what you can afford. Yes, prices have gone up because of other conditions. Those prices will always fluctuate because of other conditions. Will the prices come down. Who knows. But you will not find the answer on this forum.

Beware the “stories” like “we sold our house in two minutes,” “I made double what my house was worth two minutes ago.” Could happen, but not likely.

[Penta]

For the preowned homes north of 466 you usually won't have to pay a bond.

[pgoodley]

Hello Susan. Are from Lancaster, PA? My husband and I are from Lancaster. In answer to your question, do it now. My sister, also from Lancaster, is moving also. She has moved up her timetable from Jan 2022 to next month to visit us to buy a home. Prices keep going up, but they are in PA also. So hopefully if you are selling a home in PA, the over asking price you receive will help cover the extra cost in The Villages.

[DAVES]

I have not looked for a month or 2 but there were a good number of Villas in the $200,000+/- range just as there were 2 years ago. We bought a Villa 2 years ago and love it. Our house up north was $215000 26 years ago, $450,000 2-3 years ago and about $750000 now so prices are crazy everywhere. If we could sell up north we would be in great shape but we can’t. With building materials up so much who knows if prices will ever come down.

Real estate and people's thoughts are both interesting. Our home is worth ?????? but no one will pay that for it.

[KRMACK55]

Hello All - I'm Susan, from Lancaster, single and have finally made the decision to buy a home here in The Villages. I'm currently here in The Villages searching for a home and I'm very amazed by the prices of both new and used homes here.

In the new southern area, homes are selling very quickly, supply is low ( compared to last year ) and new homes prices are just crazy. Used home prices are even worse.

How are you guys dealing with the massive increase in home prices within The Villages?
Should I wait until the prices stabilize?

I can't believe that a new house I saw three years ago when Fenny first became developed is now on sale on the used home market for 40% more in just three years !

I have no idea what to do, please help. Thank You Susan of Lancaster
Keep in mind if you build you have to sign a waiver they’re using aluminum in place of wood wherever they can and build time is 8 months. Buy a house 1-5 yrs old and get a better house and deal. I’m selling my house after 2 years as I’m moving north to cooler temperatures. Keep in mind that sales staff at the villages do not represent you they represent the owners of this place. They don’t negotiate pricing on your behalf. Good luck

[OhioBuckeye]

Hello All - I'm Susan, from Lancaster, single and have finally made the decision to buy a home here in The Villages. I'm currently here in The Villages searching for a home and I'm very amazed by the prices of both new and used homes here.

In the new southern area, homes are selling very quickly, supply is low ( compared to last year ) and new homes prices are just crazy. Used home prices are even worse.

How are you guys dealing with the massive increase in home prices within The Villages?
Should I wait until the prices stabilize?

I can't believe that a new house I saw three years ago when Fenny first became developed is now on sale on the used home market for 40% more in just three years !

I have no idea what to do, please help. Thank You Susan of Lancaster

Go to N.Y. City or California & check out homes there, you’ll feel much better then. Some places here in the Dallas/Ft. Worth area they’re used homes are selling for $100,000. more than they paid for them.

[newgirl]

Exactly! In 20 yrs these houses will be family owned or damn near free since we have not replaced ourselves ( birth rate dropped) since the 60's.

[gatorbill1]

Florida home prices go up and down a lot based on number of hurricanes and direct hits. Had a home in Boca that tripled in price in 3 years then after 3 hurricanes in 2 years, I sold it for less than what I paid for it.

[karostay]

The value of the dollar has been beaten up this year. Like the home prices in TVs the value will not get any better. Buy now if looking.

Wonder what's causing that to happen :1rotfl:

[graciegirl]

For the preowned homes north of 466 you usually won't have to pay a bond.

The cost of the bond is figured into the cost of the home after it is fully paid. ALWAYS.

[graciegirl]

Hello All - I'm Susan, from Lancaster, single and have finally made the decision to buy a home here in The Villages. I'm currently here in The Villages searching for a home and I'm very amazed by the prices of both new and used homes here.

In the new southern area, homes are selling very quickly, supply is low ( compared to last year ) and new homes prices are just crazy. Used home prices are even worse.

How are you guys dealing with the massive increase in home prices within The Villages?
Should I wait until the prices stabilize?

I can't believe that a new house I saw three years ago when Fenny first became developed is now on sale on the used home market for 40% more in just three years !

I have no idea what to do, please help. Thank You Susan of Lancaster

The huge escalation of prices of homes is happening everywhere in the U.S.


See this article from Forbes;
Home Prices Will Increase In 2021. Here’s Where You Might Find Value – Forbes Advisor (https://www.forbes.com/advisor/mortgages/home-prices-outlook/)

[DAVES]

Hello and thanks, but I disagree with your point of view in that most of us are ARE buying a home as a monetary investment and just because I can afford the current high home prices, it doesn't make it any easier to pay these outrageous prices. I worked and saved all my life NOT to throw money away.

We all need to make our own decisions. I seem to be strange. I investigate, I make a decision based on the facts I have. I laugh at the logic I shoulda, coulda mighta. There are always opportunities we all regularly walk, drive, fly past them without seeing them or sometimes it is acting on them. Regrets, are a waste of time and do nothing positive for anyone.

[Lottoguy]

I suggest you look north of 466, which seems to have the better prices.

[Penglobal]

I thank you all for your input and after reading all your opinions and based on information from my real estate agent, attorney and primarily my gut feeling, I have decided to rent a new home for a year here in The Villages where the owners never moved-in.

BTW - I have closed on all my properties here in the Lancaster area and I hope to see all you guys soon! Thanks


Glad inflation is under control !

[JMintzer]

I suggest you look north of 466, which seems to have the better prices.

True... But the houses are significantly older and may need to be updated (if they aren't your particular taste...) That needs to be factored into the price...

[graciegirl]

I suggest you look north of 466, which seems to have the better prices.

I disagree. I think it is wiser to buy new. New everything. Not more expensive either.

[JMintzer]

I disagree. I think it is wiser to buy new. New everything. Not more expensive either.

New is most certainly more expensive...

A 1900 sq ft 3 BR 2 BA "up North" go for $350-400K all day long...

New? Try finding one under $450K...

[Keninches]

Not always. Our home is a designer stucco, 20 years old great condition. The bond back then was $3,200. That was a steal in 2003.

[Keninches]

I thank you all for your input and after reading all your opinions and based on information from my real estate agent, attorney and primarily my gut feeling, I have decided to rent a new home for a year here in The Villages where the owners never moved-in.

BTW - I have closed on all my properties here in the Lancaster area and I hope to see all you guys soon! Thanks


Glad inflation is under control !
Good luck. Look around for awhile.

[Pat2015]

True... But the houses are significantly older and may need to be updated (if they aren't your particular taste...) That needs to be factored into the price...
That’s the same thing I was thinking. When you go north of 466 you are looking at older homes that will require updates, appliances, and a new roof which has been problematic with trying to get homeowners insurance. If you want new you have to go south of 44 where the prices, bonds, and taxes are higher. Personal preference which is different for everyone.

[yanksansky]

Agreed

[KAM+6]

I thank you all for your input and after reading all your opinions and based on information from my real estate agent, attorney and primarily my gut feeling, I have decided to rent a new home for a year here in The Villages where the owners never moved-in.

BTW - I have closed on all my properties here in the Lancaster area and I hope to see all you guys soon! Thanks


Glad inflation is under control !

You can't have it both ways. You are selling high therefore you will be buying high. Also, the house in Fenny you saw 3 years ago would most likely have upgrades and 5% selling commission.

[Spalumbos62]

Susan,

To our surprise we bought a new home, because it was cheaper than an older home. We got lucky and bought in October 2020 when inventory was high because everyone was afraid. That was the time to buy, you missed it.

None of us are going to live forever, so buy now before prices continue to go up. Just buy, a smaller home that is in your budget.

Best of luck!



I agree, buy now. Not that we all can't see your dilemma, we do. The good thing about TV is that at the very least you will break even, but surely the odds are you will increase in value. I especially agree with what someone said about the generation of 63 yr olds wanting to buy...I know, I'm one of them. We bought 2.5yrs ago, easily up 25-30k today. Best of luck

[Penglobal]

You can't have it both ways. You are selling high therefore you will be buying high. Also, the house in Fenny you saw 3 years ago would most likely have upgrades and 5% selling commission.

Hello - I totally agree but I am 100% confident that when Fenny was breaking ground, a house I saw went for about $305K and it recently resold for 391K. In just three years. The exact same house with NO extra's done by the old owner. The online interior pics were identical. But then, three years ago, I had a healthy husband and things were different for everyone. Now I'm a widower trying to figure things out. I really miss my husband. Sorry

[ldj1938]

Get an outside realtor. Buy north of 466. We've lived in Santo Domingo for over 20 years. Nice neighborhoods. In our second home. Most homes have had many upgrades and updates. We have new roof, new paint, new appliances, etc. I've not noticed in huge price increases in the homes. Bonds paid years ago. Nice stable area. No dump trucks or cement mixers. Not much traffic. Check it out. The smart buyers Have the interior repainted or updated before they move in. Very smart move if you have time.

[Blessed7]

Hi Susan from Lancaster. Are you from Lancaster PA? Beautiful country up there. My wife and I are planning to sell a 3/2 designer home in Calumet Grove. It has not yet listed. We can offer a lower price around $319k if we avoid listing. Contact me if interested. Good luck!

[Spalumbos62]

The cost of the bond is figured into the cost of the home after it is fully paid. ALWAYS.



?????

[Boomer]

Hey! People north of 466 fix up their houses, too. Geez.

Also -- a few years ago, some of the houses north of 466 were beginning to turn over to new owners who have done updates.

Buyers should take their time and not write off any area of TV based on broad brush painted opinions often found on TOTV.

[Finchs]

You answered your own question. If you wait another 3 years, what do you expect to happen?

[MrFlorida]

High demand, and low interest rates, buy now before you get priced out of the market altogether.

[Villagesgal]

Ok. I have no idea of what you can afford or what you're looking for in a house. There are still good deals to be had, but they probably won’t be your dream home when you buy. There are bank owned properties in the Villages, foreclosures mostly after someone dies with a reverse mortgage the kids can't pay. There are also the occasional good deal because after death or moving mom or dad to assisted living the kids just want to get rid of the house. You can contact local banks and credit unions to find bank owned properties, I have done this, some will give you info, some will not. If you have cash, contact several realtors from several different outside companies, not the Villages Realty, tell them what you're looking for and for what price and make them work for you, if they don't, drop them and go with another realtor who will. I have bought, done light changes to homes and resold for decent profits and I am a single woman in her 60's, so if I can do this, you can, but you have to be willing to be aggressive in your search. It might take you a few buys, fix up, sells till you can get your dream home, but you can get there. Don't listen to all the naysayers who don't want to put any work into getting what you really want, you can do it and who knows, you may get lucky and find a great deal on a home after doing some fix up to that becomes your dream home. Most areas of the Villages are all wonderful to live in with great neighbors and good amenities, don't limit yourself to Fenny and South, all homes in the Villages appreciate in value. I've lived here 19 years, I know because I've seen it, even the manufactured homes on the historic side are worth 5 to 6 times what they were. You will love it here and you can do this if you're willing to do some work at it. Go for it.

[Mmhrdh0529]

There are several reasons for the increase in homes all over the country, material price increases etc.
Also, investment companies such as blackrock have been buying up homes as rental investments. Black rock has around 9 trillion in investments. There is an article today today I read talking about how it might be better for Americans to rent their whole lives. This is a terrible idea and against the American dream. Most Americans own their homes before retiring which helps them during their retirement years.
Blackrock has also used this power against corporate board rooms, which has been effective. Exon mobile now has several environmentals on their board. These investment companies are getting way too much power. Imagine the damage they can do against corporations and buying up so many homes.

[sail33or]

There are home flippers in The Villages. I know at least 5. And they are making $300,000 per flip on new houses (not your normal $25-35,000)

$300,000 per flip. So I am saying "BUYERS" are also to blame. They are paying way too much because they want to let someone else put in a pool, Bird Cage, granite, tile, ourdoor kitchen, etc. It cost the flipper $100,000 and they sell the house in 6-10 months for a $300,000 profit.

Advice to new buyers. Buy new and put your own improvements in. Prices are going up but not $300K worth. Also, note if the house has a swamp or collection pond in the rear yard it will cost you extra.

[kkingston57]

As bad as it may be, It is worse in other parts of the country. We sold a home to a person in south Fl. in October 2020. We did not know he was a "flipper" and he sold it for 10% higher in February 2021. Villages are still reasonable compared to other parts of Florida. Good luck. Noted lumber prices are now going back down. Hopefully builders will lower their prices.

[sail33or]

Real Example from last week: Couple buys Indigo Model for $380,000.

They move in and install pool, birdcage and outdoor bar. Change out floor to tile. Install specialty light fixtures. Cost ($120,000) So now they are into it for $500,000. They sell it in 3 days for $799,900.($299,000 profit less Real Estate Fees that The Villages gets half)

They now are buying another $380,000 house and repeating the process. Why are people paying $799,000 for a $1,950 sq ft house with pool? Look in the paper, The Villages are now selling new Designer non enclosed Lanai Homes for $750,000. I think they got wise.

[coconutmama]

High demand, and low interest rates, buy now before you get priced out of the market altogether.

Totally agree. Hopefully the home the OP currently lives in is owned by her & sells at a high price, to offset the housing market prices here.

[Gulfcoast]

It's like this all over Florida, people are coming here because our state is open, taxes are low, the weather is warm and we have a sane Governor. Retirees in the over 55 age range are especially drawn to The Villages because it is a nice safe haven away from some of the craziness in the rest of the country. Home prices in TV are still fairly reasonable when compared to other retirement communities. You get a lot of bang for the buck in TV.

[jimjamuser]

Hello All - I'm Susan, from Lancaster, single and have finally made the decision to buy a home here in The Villages. I'm currently here in The Villages searching for a home and I'm very amazed by the prices of both new and used homes here.

In the new southern area, homes are selling very quickly, supply is low ( compared to last year ) and new homes prices are just crazy. Used home prices are even worse.

How are you guys dealing with the massive increase in home prices within The Villages?
Should I wait until the prices stabilize?

I can't believe that a new house I saw three years ago when Fenny first became developed is now on sale on the used home market for 40% more in just three years !

I have no idea what to do, please help. Thank You Susan of Lancaster
Rent for a year. High home prices sometimes mean that a recession is right around the corner.

[jimjamuser]

Exactly! In 20 yrs these houses will be family owned or damn near free since we have not replaced ourselves ( birth rate dropped) since the 60's.
I guess you forgot about immigration?

[jimjamuser]

I thank you all for your input and after reading all your opinions and based on information from my real estate agent, attorney and primarily my gut feeling, I have decided to rent a new home for a year here in The Villages where the owners never moved-in.

BTW - I have closed on all my properties here in the Lancaster area and I hope to see all you guys soon! Thanks


Glad inflation is under control !
Good decision!

[ithos]

The collapse of the housing bubble in 2008 was in large part caused by excess inventory that was made possible by the mortgage industry drastically lowering standards. Lehman Brothers, Wallstreet's love affair with derivatives and phony audits certainly did not help. The tell tale sign was when it was cheaper to rent than to own. That certainly is not the case now.

This time around I believe the next collapse in prices will be caused by an economic depression brought on by double digit interest rates or default on government bonds and the loss of the dollars status as the worlds reserve currency.

Sooner or later mother will be proven right that money doesn't grow on trees.

In order to pay down our national debt you would have to combine the GDP of China, Japan, and India.
The United States owes $68,400 per citizen.
The United States owes $183,000 per taxpayer.
The United States currently has $125 trillion (yes, trillion) in unfunded liabilities.
As of December 2018, only ten countries have worse Debt-to-GDP ratios than the United States.
By 2025, U.S. Interest Payments on the National Debt Will Pass the Defense Budget | The National Interest (https://nationalinterest.org/blog/buzz/2025-us-interest-payments-national-debt-will-pass-defense-budget-60987)

[tmzakarian]

We just bought a home in the Villages and are closing this week. We faced the same thing you are facing. We were scheduled to come down on the Village 7 day package and found at least 4 homes we thought were perfect in the weeks before. Figured no problem we would come down and have a look at them. All pending in 24 hrs. Finally found something 2 days before our scheduled departure from Mi, called Spirit changed our flight and flew out 7 hrs later. Put a bid under asking price and got it. There are people asking crazy prices but there are still a few gems that pop up. Not as good as 4 months ago but with the projected increases for the next 12 months still a good deal. Keep looking but act QUICKLY!

[mike1946]

Try over on the Historic side - you can get more sq ft for your $$ and The Villages is the only place in the USA where a manufactured home goes up in price - there is also no bonds or impact fees like in Sumpter 'cos it's all in Lake County. You will get no thru traffic and lovely old live oaks and mature landscaping plus 1 cc. 2 pools, 1 rec with pool 1 rec without, softball field, bocce, horseshoes, petanque, tennis 2 executives + 1 championship, gas station and convenience store, decent mexican restaurant, great dog park, and fitness walking trail and lakeside grill picnic area, archery range... it's a quiet little mini villages that no one buying in the south knows about and the golf cart bridge connects you to SS in 5 minutes plus our secret golf cart gate to stores on the east side of 441 e.g. Lowes, Bealls, Aldi and many more .... It's my slice of heaven.

[mike1946]

oh forgot our own golf cart acessable Post Office !!

[Girlcopper]

Prices in TV have not and will not drop...............now having said that, sh^t happens.

I can't imagine, waiting will save you money.

Obviously there is a material shortage and this is creating upward pressures, but even with the supply chain catches up, I doubt prices will drop in TV.

Good Luck.
Yep, true. Either spend and buy or forget it. Prices will not drop unless youre waiting for a full fixer up to go up for sale. Even then, what a headache to take on since you might not know what youre doing. Only you can make the decision to spend or not

[Yvonnebang]

All very interesting and wise comments. That's what I like about this forum. Actually I am sitting on the other side- getting ready to relist my parent's house any day now. It's at Briar Meadow near Nancy Lopez Country Club. Has a big lap pool, birdcage, lani, 3br/2.5 bth, 2,478 sq feet, quiet cul de sac. Wish me luck, hoping for a quick sale!

[J1ceasar]

They have dropped but just not as much as other parts of Florida. Florida itself goes up and down in cycles

[J1ceasar]

The average days on market where I am if you list correctly is 5 days and five offers

[NotGolfer]

I'm not much of a "numbers person" but do watch the ads and the appreciation on homes listed here. We bought our house (it's a cottage series...so not large) in early 2009. The market had dropped and they were offering homes at a really good price. Ours was finished in late 2008 but was "bare bones". We had to supply blinds, garage door opener, towel bars and ceiling fans but felt for a couple of "K" we could purchase and do all that ourselves. The price on the house was mid 100's. NOW the same (from what I can ascertain) is at least 100k more if we were to sell, when I see the comps. Don't over-think it or you'll never move ahead. Find something your budget can allow and go with it.

[Old Bob]

Hello All - I'm Susan, from Lancaster, single and have finally made the decision to buy a home here in The Villages. I'm currently here in The Villages searching for a home and I'm very amazed by the prices of both new and used homes here.

In the new southern area, homes are selling very quickly, supply is low ( compared to last year ) and new homes prices are just crazy. Used home prices are even worse.

How are you guys dealing with the massive increase in home prices within The Villages?
Should I wait until the prices stabilize?

I can't believe that a new house I saw three years ago when Fenny first became developed is now on sale on the used home market for 40% more in just three years !

I have no idea what to do, please help. Thank You Susan of Lancaster

Susan, look at the resale prices in the older part of The Villages, North of 466. The prices are a lot less than the prices down South, and most of them already have the bond paid.

[jmaccallum]

I’ve been in real estate for over 3 decades and retired when I sold my real estate company in NC. The housing market is currently in a “Bubble,” caused by pent up demand, supply price increases, a new demand for larger homes by stay at home workers who would like to continue to do so, and a lot of opportunistic profit mongering. It’s what the real estate industry always does.

This is NOT the time to buy a house IF you don’t have to!

Buy now and you are buying at almost the top of the Bubble. In the short future, if you do a typical finance, you will be “under” in your mortgage. If you pay cash, your investment value could drop anywhere from 10 - 20%. If you are in it for the long run, you will probably recoup, but it will be a LONGER long run at typical appreciation when it finally levels out. So, go into it knowing that.

Hopefully when this Bubble peaks - which I predict will be in mid to late 2023, but maybe sooner as the Fed increases interest rates fearing inflation - it will be a SOFT landing, rather than a CRASH.

Cyclical activity like this is NOT new to the real estate market, as the media hypes today. Actually this is normal, and the real estate industry is known to take it to the extreme limit until it shoots itself in the foot. I’ve seen it happen many times. In late 2006, at sales meetings with my agents I told them by 2008, over 400,000 real estate agents would leave the industry nationwide because they would no longer be able to make a living. It happened. Right now however, It’s a great time to be an agent because they’re not SELLING homes, they’re just TAKING ORDERS.

ONE STRATEGY to consider if you REALLY REALLY want to be in the Villages now: Buy the lowest priced hovel you can live with. Smaller outlay, smaller risk. Percentage of possible price drop is the same, but dollar value drop is less and more palatable. When the market normalizes, sell the hovel and buy the McMansion in a more realistic and stable market. Good luck!

[jmaccallum]

Susan, look at the resale prices in the older part of The Villages, North of 466. The prices are a lot less than the prices down South, and most of them already have the bond paid.

Susan, I agree with Old Bob! That’s what I was talking as a possible strategy. Look in the “historic” section. Prices have increased there, too, what you could buy at $140k six months ago is now listed at $179k BUT interestingly they are already experiencing more days on market, which provides price wiggle room. They are older and many are manufactured, but very nice with many updated, some with nicer features than $200k new construction. And NO bond! AND you’re in the Villages where you’re not home that much anyway cos you’re out enjoying all the amenities!

[KRMACK55]

Hello All - I'm Susan, from Lancaster, single and have finally made the decision to buy a home here in The Villages. I'm currently here in The Villages searching for a home and I'm very amazed by the prices of both new and used homes here.

In the new southern area, homes are selling very quickly, supply is low ( compared to last year ) and new homes prices are just crazy. Used home prices are even worse.

How are you guys dealing with the massive increase in home prices within The Villages?
Should I wait until the prices stabilize?

I can't believe that a new house I saw three years ago when Fenny first became developed is now on sale on the used home market for 40% more in just three years !

I have no idea what to do, please help. Thank You Susan of Lancaster
Look at other areas then. If you buy a new house you will find that you need to sign a waiver for the villages to use aluminum rather than lumber and every year they make the houses cheaper offer less and lots get smaller. My house is 2 years old and I want to sell. It’s a large house and the only bites I’m getting in Fenny are people looking to list flip or want a bargain. I may be forced God help me to use a realtor as I want out by September.

Expand your search. Prices won’t go down as interest rates go up.

[jmaccallum]

And Susan, if you don’t already know, in the Villages you need to work with 2 different real estate agents, one from the Villages real estate, and one from a “regular” real estate company such as ReMax or whoever. The Villages real estate does NOT co-broke, so if you are only working with them, you are only seeing their new construction and only homes they have listed. A ReMax or whoever agent can show you all the other homes available that the Villages agent can’t. And there are many. As a real estate agent myself, I fully support agent loyalty, but in FL agents work as “Transaction Brokers” They do not represent either the buyer or seller, they only facilitate the transaction. No fiduciary responsibility. So make sure you check both sides of availability.

[dougawhite]

How did TV home prices do in the 2008 timeframe? (I've tried looking but haven't found the info yet) I know my house up north lost quite a bit of assessed value during that time.

The Villages home sales (new homes) took a huge drop in 2007 and stayed about half of what they were in 2005. Still lower than the rocket increases they had in the early 2,000s. See chart attached...
89913

[Boomer]

jmaccallum, thank you for your posts #98, 100, and 101.

Very interesting reading — and based on your own experience with the reality of realty throughout varying markets.

I liked that advice you gave about buying the least expensive place possible and moving up later — although who really knows where the market will go — but even so, I can’t see how this thing we are in now can be sustainable. At some point surely the “duh” factor will kick in and buyers will come to their senses and home prices will calm down.

TV buyers might be coming in with a lot of cash from their sales of their long-owned houses elsewhere — but if they can’t find exactly what they want — or if the prices make them feel had — the compromise of buying a less expensive home, getting on with life in TV, and waiting to see where it goes could make really good sense in this market.

The issue with trying to buy less expensive homes anywhere right now though is that the flippers or landlords are after them too which causes prices to go up. But, like you said, the investment would be less. And if the buyer is cash-carrying, keeping the change should feel really good.

I am a believer in keeping a moat of cash around other investments. Even though cash pays nothing in the bank, it’s still cash — liquid — liquid freedom.

And, about those agents who are supposed to be raking it in — some certainly are, but I just heard that there are 8 realtors for every listing in the country. A lot of agents have to be spinning their wheels.

A realtor I know up north who is long-experienced and very successful said this market is oddly a version of a realtor’s nightmare. She had 35 bids on one of her listings. That’s a lot of juggling and a whole lot of disappointed and upset people to deal with.

As frantic as this market is right now, the fat lady eventually will take the stage and sing. But, for now, I don’t see her waiting in the wings yet, and I don’t even think I can see her limo approaching. But she will be here. She always shows up.

(Of course, each buyer has to figure it out for their individual situation. There is no one-size-fits all in this one. But it is kind of fun to talk about from different perspectives.)

Boomer

[armywrestle]

All very interesting and wise comments. That's what I like about this forum. Actually I am sitting on the other side- getting ready to relist my parent's house any day now. It's at Briar Meadow near Nancy Lopez Country Club. Has a big lap pool, birdcage, lani, 3br/2.5 bth, 2,478 sq feet, quiet cul de sac. Wish me luck, hoping for a quick sale!

Have been trying to connect. Can you share price info. please?

[armywrestle]

Look at other areas then. If you buy a new house you will find that you need to sign a waiver for the villages to use aluminum rather than lumber and every year they make the houses cheaper offer less and lots get smaller. My house is 2 years old and I want to sell. It’s a large house and the only bites I’m getting in Fenny are people looking to list flip or want a bargain. I may be forced God help me to use a realtor as I want out by September.

Expand your search. Prices won’t go down as interest rates go up.

Can you share info on home please???? We are interested in your home most likely and can close FAST----------cash.

[LateBoomer]

I think as soon as the Fed raises interest rates (due to obvious inflation caused by a surge in deficit-spending by the govt), the housing market is going to cool off in a big way. That being said, TV is picking up something like 4,500 new residents a year. The demand for housing here is going to remain high as will prices

[Bellavita]

supply and demand regulate any market, Real Estate is up nationwide, because rates are so low. Buy a used home with the bond paid off. Buy something you can fix up easy, carpet paint granite.

Hello All - I'm Susan, from Lancaster, single and have finally made the decision to buy a home here in The Villages. I'm currently here in The Villages searching for a home and I'm very amazed by the prices of both new and used homes here.

In the new southern area, homes are selling very quickly, supply is low ( compared to last year ) and new homes prices are just crazy. Used home prices are even worse.

How are you guys dealing with the massive increase in home prices within The Villages?
Should I wait until the prices stabilize?

I can't believe that a new house I saw three years ago when Fenny first became developed is now on sale on the used home market for 40% more in just three years !

I have no idea what to do, please help. Thank You Susan of Lancaster

[JoyceI]

The tariffs are the reason we bought in 2018 before selling our other Florida home. We figured prices would increase. Factor in low interest rates and COVID and tada. Tariffs have not decreased and they are actually looking at increasing tariffs on Canadian lumber. As interest rates stay low I would expect continued pressure on availability and price. We have owned a home we lived in for 10 years and sold for less than we paid. Also had a house in NJ we lived in for 2 years and sold for 40% profit. Land value was that catalyst. My crystal ball does not work. Look at your situation and if you are comfortable buying and planning to stay a while, buying may be an option. We are in Fenney. Resales do not stay on the market long. My guess is prices here are up 30%. Please also realize most resales have window treatments, crown molding, enclosed lanai, pavered driveway, garage floor sealed, water softener, water treatment and/or other things you may add to new construction. If finishes are to your liking you may be ahead of the game.

[Penglobal]

Hi All -
I again sincerely appreciate all your guidance, suggestions and also wish to thank everyone for their private messages. I wish that I could respond to the private messages but my computer virus program is preventing me from responding. I have no idea how to turn-off the virus protection.

As I previously stated, renting for me now is much easier and much cheaper than buying. Today, I just rented a lovely home for only 21K for the entire year, utilities included and the home is brand new and recently purchased for over 460K. Also, the house comes with a new golf cart I can cruise around in and I believe that 2 of the 3 bathrooms have never been used.

In my humble opinion, the price of homes will peak in the next 18 months and I believe that the pricing home bubble will pop and I don't want to be stuck with an over priced home. Thanks again! And I am from the Keystone State.

[Yvonnebang]

Have been trying to connect. Can you share price info. please?

Send PM pls!

[Dr Winston O Boogie jr]

Hi All -
I again sincerely appreciate all your guidance, suggestions and also wish to thank everyone for their private messages. I wish that I could respond to the private messages but my computer virus program is preventing me from responding. I have no idea how to turn-off the virus protection.

As I previously stated, renting for me now is much easier and much cheaper than buying. Today, I just rented a lovely home for only 21K for the entire year, utilities included and the home is brand new and recently purchased for over 460K. Also, the house comes with a new golf cart I can cruise around in and I believe that 2 of the 3 bathrooms have never been used.

In my humble opinion, the price of homes will peak in the next 18 months and I believe that the pricing home bubble will pop and I don't want to be stuck with an over priced home. Thanks again! And I am from the Keystone State.

Property values in The Villages have never gone down in any year since 1985. I understand your concern about the bubble bursting, but The Villages is not like any other place in the country.

[Dr Winston O Boogie jr]

Try over on the Historic side - you can get more sq ft for your $$ and The Villages is the only place in the USA where a manufactured home goes up in price - there is also no bonds or impact fees like in Sumpter 'cos it's all in Lake County. You will get no thru traffic and lovely old live oaks and mature landscaping plus 1 cc. 2 pools, 1 rec with pool 1 rec without, softball field, bocce, horseshoes, petanque, tennis 2 executives + 1 championship, gas station and convenience store, decent mexican restaurant, great dog park, and fitness walking trail and lakeside grill picnic area, archery range... it's a quiet little mini villages that no one buying in the south knows about and the golf cart bridge connects you to SS in 5 minutes plus our secret golf cart gate to stores on the east side of 441 e.g. Lowes, Bealls, Aldi and many more .... It's my slice of heaven.

I have a six year old three bedroom, two bath Sun Kissed cottage home in Silver Lake that I'll be selling. It has a two car garage and is turnkey.

There are three pools, two golf courses, three rec centers, and tennis courts.

There is no bond in that area. Insurance and taxes are very low.

I'm asking $265,000.

My house is just like this one.
Homefinder - The Villages(R) Homes and Villas for Sale (https://www.thevillages.com/homefinder/L28.85?new&preowned&homesites&model=Sun%20Kissed&status&lng=-81.99355979584547&lat=28.87421165371721&lvl=0)

[manaboutown]

There is plenty of upside IMHO. People are fleeing high tax - high crime major cities. Most are escaping to relatively safe low tax havens having decent weather. The Villages has about as little downside as anywhere. How does price appreciation in TV compare to that in the Boise area where prices had as of January 2021 tripled in ten years? Zillow: Boise housing market tripled in value since 2011, the largest increase in the nation | ktvb.com (https://www.ktvb.com/article/news/local/growing-idaho/boise-housing-market-value-home-sales/277-2d47f0c6-03b5-419e-bd59-a88607618a65)

Access Denied (https://www.idahostatesman.com/news/business/article251914958.html)

[Babubhat]

Prices are still low relative to the Northeast. Eventually the smart ones will flee that area and free up their equity

[LateBoomer]

$21K down the toilet. if you're planning to be here many years, buy in. and buy in soon

[Laker14]

$21K down the toilet. if you're planning to be here many years, buy in. and buy in soon

not really 21K down the toilet. She's not paying any of the 13K-15K carrying costs (amenities, maintenance, taxes, insurance, etc. etc.). She's not paying interest costs on a mortgage. 21K for a year, for a nice place, is a good price. Yes, prices may go up, but they might not. The money she didn't have to put up for down payment etc. may do well otherwise invested.

Nobody really knows.

[Papa_lecki]

I think as soon as the Fed raises interest rates (due to obvious inflation caused by a surge in deficit-spending by the govt), the housing market is going to cool off in a big way. That being said, TV is picking up something like 4,500 new residents a year. The demand for housing here is going to remain high as will prices

Since, according to Inside the Bubble, half the VIllages buyer pay cash - and many of the other half probably could (why pay cash when your can borrow at 2%) - not sure increased rates will affect the market.

Cool Facts About The Villages Florida (https://www.insidethebubble.net/the-villages-cool-facts/)

[vintageogauge]

not really 21K down the toilet. She's not paying any of the 13K-15K carrying costs (amenities, maintenance, taxes, insurance, etc. etc.). She's not paying interest costs on a mortgage. 21K for a year, for a nice place, is a good price. Yes, prices may go up, but they might not. The money she didn't have to put up for down payment etc. may do well otherwise invested.

Nobody really knows.

She's loosing out on any appreciation which could be a lot more than carrying costs. The new homes south of 44 have been going up consistently since opening in 2017, several price increases every year and then this years crazy high increases. I don't think they have maxed out yet. Just one man's opinion right or wrong.

[Papa_lecki]

There are 41 million Americans between 50 and 60. In the last year, many of those 50 somethings realized they can work from anyplace with an internet connection. Why not work in a house with 54 holes of golf within 10 minutes of your garage? And have your retirement home to boot.

[Velvet]

not really 21K down the toilet. She's not paying any of the 13K-15K carrying costs (amenities, maintenance, taxes, insurance, etc. etc.). She's not paying interest costs on a mortgage. 21K for a year, for a nice place, is a good price. Yes, prices may go up, but they might not. The money she didn't have to put up for down payment etc. may do well otherwise invested.

Nobody really knows.

Unless this would be a second home in TV, doesn’t she have similar costs now where she lives? If she is renting, it’s rolled in to the rent and that money is gone forever.

[sail33or]

My sincerest opinion is that it depends on 2 things:

1. Are you selling a house whereby you are making a huge profit?
2. Do you plan to stay in your next house until you can't anymore?

If answers are yes, then buy what you want now without hesitation.

However if answers are no then let me tell you we are now in a time like no other in History. Do not listen to stuff about the past. I have 5 friends that just sold their houses in the Villages for $400,000 profit. That is absurd. They took the money. (They are buying next house with cash and will sell that house next year for another huge profit.) This is happening everywhere but in The Villages it is more prevalent because of the unique amenities. Just Know The Villages is building another 100,000 houses and then more after that. So pricing will be a contest between are their more people retiring versus how many houses can The Villages build.

[Aces4]

My sincerest opinion is that it depends on 2 things:

1. Are you selling a house whereby you are making a huge profit?
2. Do you plan to stay in your next house until you can't anymore?

If answers are yes, then buy what you want now without hesitation.

However if answers are no then let me tell you we are now in a time like no other in History. Do not listen to stuff about the past. I have 5 friends that just sold their houses in the Villages for $400,000 profit. That is absurd. They took the money. (They are buying next house with cash and will sell that house next year for another huge profit.) This is happening everywhere but in The Villages it is more prevalent because of the unique amenities. Just Know The Villages is building another 100,000 houses and then more after that. So pricing will be a contest between are their more people retiring versus how many houses can The Villages build.

Be very careful when getting into flipping houses. We know a couple who were doing just that in 2007. They used their retirement investments and were flying high when the sh*t hit the fan. Yup, lost just about everything but enough left for a double wide.

[sail33or]

The crazy part is why are people paying these prices to the flippers.

Here is the formula:

Buy new "designer" home (obviously south of 44) for $375,000.

Add small pool, birdcage and outdoor bar/kitchen for $75,000

Then sell for $799,000 in one day.

[sail33or]

Of course The Villages sees this and now the $375,000 Designer home is going for $650-750,000. Just look in the Paper.

[LateBoomer]

any new home even worth considering south of 44 is going to cost you north of $450K

[vintageogauge]

Look at other areas then. If you buy a new house you will find that you need to sign a waiver for the villages to use aluminum rather than lumber and every year they make the houses cheaper offer less and lots get smaller. My house is 2 years old and I want to sell. It’s a large house and the only bites I’m getting in Fenny are people looking to list flip or want a bargain. I may be forced God help me to use a realtor as I want out by September.

Expand your search. Prices won’t go down as interest rates go up.

If you have a house in Fenney and you can't sell it, you are either not advertising it in the right places, asking too much for it or you are not on a desirable lot as they homes in Fenney are generally sold within a few days.

[Stu from NYC]

Be very careful when getting into flipping houses. We know a couple who were doing just that in 2007. They used their retirement investments and were flying high when the sh*t hit the fan. Yup, lost just about everything but enough for a double wide.

Home prices will keep going up until they stop going up and than go down.

[Joe V.]

any new home even worth considering south of 44 is going to cost you north of $450K

I would be willing to part with mine for 440,000.

[Stu from NYC]

I would be willing to part with mine for 440,000.

But than where do you go?

[Joe V.]

But than where do you go?

A secret place my wife found near Port Charlotte, on the water, a great deal. Much pressure is being applied to me now to make this happen. I have lived in many great places in Fl and Port Charlotte would be my next great place to live in FL, if she has her way. She usually does.

[ithos]

My sincerest opinion is that it depends on 2 things:

1. Are you selling a house whereby you are making a huge profit?
2. Do you plan to stay in your next house until you can't anymore?

If answers are yes, then buy what you want now without hesitation.

However if answers are no then let me tell you we are now in a time like no other in History. Do not listen to stuff about the past. I have 5 friends that just sold their houses in the Villages for $400,000 profit. That is absurd. They took the money. (They are buying next house with cash and will sell that house next year for another huge profit.) This is happening everywhere but in The Villages it is more prevalent because of the unique amenities. Just Know The Villages is building another 100,000 houses and then more after that. So pricing will be a contest between are their more people retiring versus how many houses can The Villages build.

Where did you get this estimate of 100,00 houses? And what is the footprint?
I don't doubt it because the Morse family would build 500k homes if they could.

[Penglobal]

$21K down the toilet. if you're planning to be here many years, buy in. and buy in soon

As previously stated, the 21K lease for the entire year includes all utilities, all taxes, all maintenance, all Villages fees, all bond money, lawn maintenance, all miscellaneous fees and the ability to live in a brand new never lived-in house and the ability to move-in and purchase the exact home when I want. Most importantly, at my age of 63, I can rent here in The Villages until I turn 336 years old (:icon_wink::icon_wink::icon_wink::icon_wink:) before I run out of money, so I feel relatively safe that I will not out-live my money.

[vintageogauge]

As previously stated, the 21K lease for the entire year includes all utilities, all taxes, all maintenance, all Villages fees, all bond money, lawn maintenance, all miscellaneous fees and the ability to live in a brand new never lived-in house and the ability to move-in and purchase the exact home when I want. Most importantly, at my age of 63, I can rent here in The Villages until I turn 336 years old (:icon_wink::icon_wink::icon_wink::icon_wink:) before I run out of money, so I feel relatively safe that I will not out-live my money.

What does never running out of money have to do with the cost of homes. There are thousands of independently wealthy people here that will never run out of money. The fact is by renting you are losing the opportunity to actually make money on your investment and basically live free. When you rent you can't improve your home, you have to abide by the terms of your lease. We purchased our home 4 years ago and with the appreciated value of our home we have lived here free and still made a six figure profit.

[Penglobal]

What does never running out of money have to do with the cost of homes. There are thousands of independently wealthy people here that will never run out of money. The fact is by renting you are losing the opportunity to actually make money on your investment and basically live free. When you rent you can't improve your home, you have to abide by the terms of your lease. We purchased our home 4 years ago and with the appreciated value of our home we have lived here free and still made a six figure profit.

Hello and thank you for your reply -
In """"""MY""""" opinion, my rental house is a structure to live in and call home, not a business venture, but a home and thanks to the market, I am living comfortably and I don't require any more money nor stress. As a single female, the ability to rent allows """""me""""" the opportunity to feel my way around which is an experience as a married male you may never understand. Additionally, I still hold residence in PA. and I enjoy the ability to move and live anyplace I wish. BTW - You will not profit six figures or any amount until after you sell and move out of your residence. Thank You again.

[Aces4]

What does never running out of money have to do with the cost of homes. There are thousands of independently wealthy people here that will never run out of money. The fact is by renting you are losing the opportunity to actually make money on your investment and basically live free. When you rent you can't improve your home, you have to abide by the terms of your lease. We purchased our home 4 years ago and with the appreciated value of our home we have lived here free and still made a six figure profit.

Please share how you lived here “free”. We think it’s quite expensive if you own a home in The Villages.

[Laker14]

She's loosing out on any appreciation which could be a lot more than carrying costs. The new homes south of 44 have been going up consistently since opening in 2017, several price increases every year and then this years crazy high increases. I don't think they have maxed out yet. Just one man's opinion right or wrong.

"COULD BE".... a very important disclaimer, there, my friend. Remember all of those ads for mutual funds on TV..."Past performance is no guarantee of future returns"...we may think the market will always go up, and it may, but there is no guarantee. I personally made the decision, along with my wife of course, that given the current valuations of equities in the US stock markets, and the P/E ratio of the S&P 500, and the pittance one receives in "safe" investments like CDs, bond funds, etc...AND our decision that we wanted to be in TV 6+ months/ year, to buy...luckily we did this in December 2020 before the recent crazy spike, but that was what made sense to us at the time. Realistically, there are certain expenses and responsibilities that come with owning that I don't love. I can completely understand why someone would make a different decision than I did.

Unless this would be a second home in TV, doesn’t she have similar costs now where she lives? If she is renting, it’s rolled in to the rent and that money is gone forever.

I look at the house expense in various categories....if you buy you pay taxes (money down the toilet), insurance (flush), lawn care (flush), interest on loan (flush) or if you don't take a loan, you have a chunk of money no longer available for investment in other areas(another potential flush)...amenity fees (flush), sewer and garbage and water (flush flush flush),, bond payment, (flush twice),none of those expenses goes into equity on your home.

It's very dangerous to base a house purchase on the belief that housing prices will always go up, and particularly dangerous to base it on the belief that housing prices will go up at the rate they've gone up in the last year. The OP has made a decision that is right for her. If she decides to buy later, she'll know a lot more about TV after having rented here for a period. She may "lose out" on a year of appreciation, but she also may lose out on a year of depreciation as things revert to mean, as they typically do.

[Babubhat]

A house is not an investment. It may build equity but that is a by product of needing a place to live. At current prices you should not expect much more appreciation.

[Bay Kid]

A house is not an investment. It may build equity but that is a by product of needing a place to live. At current prices you should not expect much more appreciation.

A home is an investment. You can pay my home payments by renting, or yours by owning. Pride of ownership will reap rewards when you sell.

[vintageogauge]

Please share how you lived here “free”. We think it’s quite expensive if you own a home in The Villages.

The annual appreciation of our home since being purchased far exceeded the cost to own the home including all utilities, upkeep, taxes, bond, etc., etc., and there is still a six figure surplus and I am basing the value of our home at a quick sell price.

[tvbound]

Hello and thank you for your reply -
In """"""MY""""" opinion, my rental house is a structure to live in and call home, not a business venture, but a home and thanks to the market, I am living comfortably and I don't require any more money nor stress. As a single female, the ability to rent allows """""me""""" the opportunity to feel my way around which is an experience as a married male you may never understand. Additionally, I still hold residence in PA. and I enjoy the ability to move and live anyplace I wish. BTW - You will not profit six figures or any amount until after you sell and move out of your residence. Thank You again.

"BTW - You will not profit six figures or any amount until after you sell and move out of your residence."

A simple fact, that all too many don't seem to be able to grasp. Like stocks, you haven't "made" anything until you sell or in the case of a home, use a HELOC and/or refinancing to take out equity. The universal philosophy ahead of every single bust or recession this country has ever been through, is along the lines of - "buy now, prices will always be going up."

[vintageogauge]

A house is not an investment. It may build equity but that is a by product of needing a place to live. At current prices you should not expect much more appreciation.

A house is an investment, if you only "need a place to live" you can rent a little condo somewhere and not enjoy the appreciation opportunity of owning a home. Also not everyone that "invests" in homes lives in them and many of us have multiple homes here., they are truly great investments and based on the number of boomers still retiring every day I believe that the values of these homes will continue to rise.

[Aces4]

The annual appreciation of our home since being purchased far exceeded the cost to own the home including all utilities, upkeep, taxes, bond, etc., etc., and there is still a six figure surplus and I am basing the value of our home at a quick sell price.

For a savvy investor, it is realized an investment in housing is a poor one for growth. There are no guarantees prices will rise after you buy since any growth can be quickly eroded by a down turn in the economy, decimation of the area by a series of either sink holes, hurricanes/tornadoes, sharp tax/cost of living increase, increase in population density, pressure on natural resources availability such as the aquifer, crime increase, etc. There is not a FDIC for housing and it should not be considered an investment unless it is strictly a rental unit. And even then a pandemic may wipe out all income for a great length of time.

[vintageogauge]

For a savvy investor, it is realized an investment in housing is a poor one for growth. There are no guarantees prices will rise after you buy since any growth can be quickly eroded by a down turn in the economy, decimation of the area by a series of either sink holes, hurricanes/tornadoes, sharp tax/cost of living increase, increase in population density, pressure on natural resources availability such as the aquifer, crime increase, etc. There is not a FDIC for housing and it should not be considered an investment unless it is strictly a rental unit. And even then a pandemic may wipe out all income for a great length of time.

Not to worry, I've been doing this for decades and haven't lost yet. Realestate by far has been the best investments of my entire life. Even when the economy goes down, unlike some other investments, you still own the property and it will eventually go back up.

[justjim]

A house is not an investment. It may build equity but that is a by product of needing a place to live. At current prices you should not expect much more appreciation.

Over the last few decades houses have been a very good investment for me and my wife. :bigbow:"

[Velvet]

"BTW - You will not profit six figures or any amount until after you sell and move out of your residence."

A simple fact, that all too many don't seem to be able to grasp. Like stocks, you haven't "made" anything until you sell or in the case of a home, use a HELOC and/or refinancing to take out equity. The universal philosophy ahead of every single bust or recession this country has ever been through, is along the lines of - "buy now, prices will always be going up."

You are right. The first house I bought didn’t increase in value for 15 years. Although I brought up a family in that home. Then prices started to increase, year after year - after 15 years of holding steady. When we sold the house it was 5 times for what we paid but it was 30 years later. It was a sad affair for me, I hoped to live out my life in that home.

But then I could afford a better property. Actually 2, one here in TV.

The price of houses in TV are going up but I bought a home not an investment. In an emergency it would serve as an investment. But for me what counts is not how many zeros I have in my bank account, but the quality of life I can live each day.

[Normal]

Hello All - I'm Susan, from Lancaster, single and have finally made the decision to buy a home here in The Villages. I'm currently here in The Villages searching for a home and I'm very amazed by the prices of both new and used homes here.

In the new southern area, homes are selling very quickly, supply is low ( compared to last year ) and new homes prices are just crazy. Used home prices are even worse.

How are you guys dealing with the massive increase in home prices within The Villages?
Should I wait until the prices stabilize?

I can't believe that a new house I saw three years ago when Fenny first became developed is now on sale on the used home market for 40% more in just three years !

I have no idea what to do, please help. Thank You Susan of Lancaster

Ask yourself if you see inflation in the future. If you do, know that the Fed will raise prime lending rates to tamper it down.

So, if you want to buy a home, I wouldn’t hold off.

YOLO so enjoy, you can take it with you.

[Stephen13]

Ask yourself if you see inflation in the future. If you do, know that the Fed will raise prime lending rates to tamper it down.

So, if you want to buy a home, I wouldn’t hold off.

YOLO so enjoy, you can take it with you.

This, to me, is the most relevant post in the string. If you're a smart buyer and do it right you can put yourself in a great position. Good luck with the search!

[Aces4]

Not to worry, I've been doing this for decades and haven't lost yet. Realestate by far has been the best investments of my entire life. Even when the economy goes down, unlike some other investments, you still own the property and it will eventually go back up.

We have also owned many homes over the years but most people living here don’t have twenty years to wait for a recovery and then you also have the major expenses year to year that won’t be recovered.

Everyone needs to evaluate what tolerance they have for potential loss.

[manaboutown]

Not to worry, I've been doing this for decades and haven't lost yet. Realestate by far has been the best investments of my entire life. Even when the economy goes down, unlike some other investments, you still own the property and it will eventually go back up.

A friend of mine was in the USAF stationed at SAMSO in the Los Angeles area and bought a house on the Palos Verdes Peninsula around 1970. He was a First Lieutenant and worked with another First Lieutenant with the last name of Marvel. Marvel had been stationed there prior to my friend and had bought a house for $40K the year before which was now worth $70K. Marvel then refinanced the house and bought another. Using this technique over several years he acquired 19 rental houses in the area. When the fellow made Captain he wore to the office a Captain Marvel outfit his wife had made. Lol. After a few years he resigned his commission as his houses had become worth about $650K each. Bet they are maybe $1.5M houses today!

My friend, now 80 years old, went on to obtain about half a dozen rental houses (although not in that area) which he still owns.

Residential real estate can make one a multimillionaire.

I wonder how many residents in The Villages have acquired multiple rental properties in TV over time? More than a few I will wager!

[Aces4]

A friend of mine was in the USAF stationed at SAMSO in the Los Angeles area and bought a house on the Palos Verdes Peninsula around 1970. He was a First Lieutenant and worked with another First Lieutenant with the last name of Marvel. Marvel had been stationed there prior to my friend and had bought a house for $40K the year before which was now worth $70K. Marvel then refinanced the house and bought another. Over several years he acquired 19 rental houses in the area. When the fellow made Captain he wore to the office a Captain Marvel outfit his wife had made. Lol. After a few years he resigned his commission as his houses had become worth about $650K each. Bet they are maybe $1.5M houses today!

My friend, now 80 years old, went on to obtain about half a dozen rental houses (although not in that area) which he still owns.

Residential real estate can make one a multimillionaire.

I wonder how many residents in The Villages have acquired multiple rental properties in TV over time? More than a few I will wager!


I also wonder how many times the government stepped in and said you don’t have to pay your rent due to the pandemic. There are a lot of rental units for sale around the country, nows the time to buy if you’re not worried about rent payments you may never receive.

We all know how Villagers love landlords and renters.

[RandyLW]

I think I'm going to wait for prices to stabilize in the next year or so. If the prices in the Villages remain high then I'll purchase out side, but close to the Villages, or even in the Orlando area. Only time will tell, but after the pandemic and giving everything time to catch up, we'll see what our choices are.

[vintageogauge]

I also wonder how many times the government stepped in and said you don’t have to pay your rent due to the pandemic. There are a lot of rental units for sale around the country, nows the time to buy if you’re not worried about rent payments you may never receive.

We all know how Villagers love landlords and renters.

There are ways to get around worrying about receiving rent payments.

[Aces4]

There are ways to get around worrying about receiving rent payments.

Yes, I suppose one could screen their applicants to keep the undesirables away but the last I heard about that it was illegal. That wouldn’t interest me.

[vintageogauge]

Yes, I suppose one could screen their applicants to keep the undesirables away but the last I heard about that it was illegal. That wouldn’t interest me.

Nope, my system is completely legal and I have never lost a dime in rent. Also, it is not illegal to screen tenants, if you go through Hometown here in TV they do a great job of it.

[Aces4]

Nope, my system is completely legal and I have never lost a dime in rent. Also, it is not illegal to screen tenants, if you go through Hometown here in TV they do a great job of it.

I’m not convinced, tell me how that’s working for you when you get caught with bad tenants. It happens to everyone unless you’re screening out families, minorities, low income, service pets and so forth.

[stan the man]

The pendulum swings both ways.

[JMintzer]

I’m not convinced, tell me how that’s working for you when you get caught with bad tenants. It happens to everyone unless you’re screening out families, minorities, low income, service pets and so forth.

Minorities are bad tenants? Hmmm... There's a word for that...

[Irishmen]

Minorities are bad tenants? Hmmm... There's a word for that...

being a deadbeat is not determined by your skin color for sure....

[vintageogauge]

I’m not convinced, tell me how that’s working for you when you get caught with bad tenants. It happens to everyone unless you’re screening out families, minorities, low income, service pets and so forth.

First of all I rent long term unfurnished, no pets, no smoking. I don't have problems with bad tenants as I do screen them, I allow 2 adults no families, the best tenant I ever had was a minority couple so no problem there, if the applicant does not have sufficient income to comfortably afford to pay the rent it's a no go, bankruptcy in the past, it's a no go, no proof of income, another no go, multiple references are a must, and finally I look at their car while they are looking around the unit I have for rent, a sloppy, dirty car means a sloppy, dirty home. When I was renting out homes up north I would get the applicants address on the rental application and if I was considering them I would actually go to their current home, make sure they lived there, and ask if I could come in a talk about the application. Some homes were perfect others were pig pens. There is one more thing I do that puts the icing on the cake but I'm not going to make that public.

[Normal]

Yes, there is a housing shortage. This drives up prices, and I don’t see the “bubble” others claim. Lenders require 20% down and your credit matters before your home loan is given. People aren’t allowed to short sell now and when will there be enough houses, nowhere in the foreseeable future. This whole thing will flatten out without some kind of bubble burst.

[Aces4]

Minorities are bad tenants? Hmmm... There's a word for that...

You’re probably unaware that minorities often have a much lower source of income and may struggle with rent payments which makes some landlords take great steps to avoid renting to them. Landlords will consider them bad tenants and will work illegally to avoid renting. That was my point.

[Aces4]

First of all I rent long term unfurnished, no pets, no smoking. I don't have problems with bad tenants as I do screen them, I allow 2 adults no families, the best tenant I ever had was a minority couple so no problem there, if the applicant does not have sufficient income to comfortably afford to pay the rent it's a no go, bankruptcy in the past, it's a no go, no proof of income, another no go, multiple references are a must, and finally I look at their car while they are looking around the unit I have for rent, a sloppy, dirty car means a sloppy, dirty home. When I was renting out homes up north I would get the applicants address on the rental application and if I was considering them I would actually go to their current home, make sure they lived there, and ask if I could come in a talk about the application. Some homes were perfect others were pig pens. There is one more thing I do that puts the icing on the cake but I'm not going to make that public.

I believe you cannot ban people with service dogs from your rentals.

[JMintzer]

You’re probably unaware that minorities often have a much lower source of income and may struggle with rent payments which makes some landlords take great steps to avoid renting to them. Landlords will consider them bad tenants and will work illegally to avoid renting. That was my point.

Do they now? All of them? And how "often"?

[vintageogauge]

I believe you cannot ban people with service dogs from your rentals.

There are ways.

[vintageogauge]

You’re probably unaware that minorities often have a much lower source of income and may struggle with rent payments which makes some landlords take great steps to avoid renting to them. Landlords will consider them bad tenants and will work illegally to avoid renting. That was my point.

My God, are you serious???

[Bay Kid]

My God, are you serious???

Sorry to say but they probably are.

[Velvet]

Just wondering, how is renting a place so different from renting a car? Both things belong to someone else. If you can’t afford to rent a car who is going to let you have one? Or if you go shopping but you can’t afford to buy anything? I’m talking about private owners not gov’t. It make sense to qualify renters (within legal requirements) or simply not rent one’s place at all.

[Robnlaura]

I think I'm going to wait for prices to stabilize in the next year or so. If the prices in the Villages remain high then I'll purchase out side, but close to the Villages, or even in the Orlando area. Only time will tell, but after the pandemic and giving everything time to catch up, we'll see what our choices are. bunch of new articles coming out that indicate a cooling off in many markets more inventory buyer pools shrinking building costs starting to drop.. motley fool has an article about a pending housing crash.. who knows really we are hoping for a drop in prices I’m seeing a lot more inventory of new homes. The old stuff not even interested in way overpriced.. it’s a waiting game and with this new surge who knows what’s gonna happen.

[Normal]

bunch of new articles coming out that indicate a cooling off in many markets more inventory buyer pools shrinking building costs starting to drop.. motley fool has an article about a pending housing crash.. who knows really we are hoping for a drop in prices I’m seeing a lot more inventory of new homes. The old stuff not even interested in way overpriced.. it’s a waiting game and with this new surge who knows what’s gonna happen.

Um ya, I don’t see the reduction you are waiting for. Demand for housing is increasing, but the inventory just isn’t there. Maybe a flattening of prices? The country had 3.8 million fewer housing units than it needed at the end of 2020.

With that in mind, there may be a decrease in demand at some point? Higher prices will decrease the pool of eligible buyers, but the market demand will continue to stimulate supply. Credit rules haven’t eased much leading to some kind of financial collapse, but they might ease because of the homeless situation brewing after the renter moratorium fold. A market equilibrium just might come, but it’s still a fair time away. There won’t be a housing collapse like the one in 08 that was linked to bad loan behavior and the banks.

[ohiosbestus]

Just curious which Lancaster are you talking about Ohio? Pennsylvania?, California? Also If you decide to but you best do it now, especially if your financing so you can lock your rate in before they start to dramatically increase...... I wish you the best of luck in finding a place in this incredible community. You are making a wise decision. History states that the average villager moves 3 times within the villages during their lifetime.

[Penglobal]

Just curious which Lancaster are you talking about Ohio? Pennsylvania?, California? Also If you decide to but you best do it now, especially if your financing so you can lock your rate in before they start to dramatically increase...... I wish you the best of luck in finding a place in this incredible community. You are making a wise decision. History states that the average villager moves 3 times within the villages during their lifetime.

Hello friend,
I originate from Lancaster Pennsylvania but spent my formative years at State College. Also I found a lovely rental in a brand new home. Thanks for asking. Yourself ?

[Toymeister]

You’re probably unaware that minorities often have a much lower source of income and may struggle with rent payments which makes some landlords take great steps to avoid renting to them. Landlords will consider them bad tenants and will work illegally to avoid renting. That was my point.

You are obviously unaware that African Americans (which is mainly what we are talking about) have, on the whole, made numerous lifestyle choices that limit their income:

77.3% blacks are born out of wedlock

Blacks comprise 13% of the population but 51.6% of all arrests of murder.

These and other choices are why African Americans have lower incomes while Asian Americans have higher incomes than white Americans.

You are entitled to your opinion but not your own facts. And many time the facts do not align with the main stream media agenda.

[Aces4]

You are obviously unaware that African Americans (which is mainly what we are talking about) have, on the whole, made numerous lifestyle choices that limit their income:

77.3% blacks are born out of wedlock

Blacks comprise 13% of the population but 51.6% of all arrests of murder.

These and other choices are why African Americans have lower incomes while Asian Americans have higher incomes than white Americans.

You are entitled to your opinion but not your own facts. And many time the facts do not align with the main stream media agenda.

I did not indicate your facts otherwise with my statement. I was pointing out rental redlining that many landlords are employing through different methods even though it is unlawful. No where did I indicate why there was income discrepancy between the races as you have done.

[Toymeister]

Thanks, I appreciate that. We walk away friends.

[Robnlaura]

Um ya, I don’t see the reduction you are waiting for. Demand for housing is increasing, but the inventory just isn’t there. Maybe a flattening of prices? The country had 3.8 million fewer housing units than it needed at the end of 2020.

With that in mind, there may be a decrease in demand at some point? Higher prices will decrease the pool of eligible buyers, but the market demand will continue to stimulate supply. Credit rules haven’t eased much leading to some kind of financial collapse, but they might ease because of the homeless situation brewing after the renter moratorium fold. A market equilibrium just might come, but it’s still a fair time away. There won’t be a housing collapse like the one in 08 that was linked to bad loan behavior and the banks. don’t forget we have a massive shadow inventory of pending foreclosures of plus or minus 4 million homes. We have massive rental evictions coming now the moratorium has been lifted.. and I would think a lot of those burnt will be selling those rentals. Lumbar prices have bottomed out. The villages is moving to precast building significant as it reduces time to build and cost.. sadly no one has a crystal ball. But this reminds me of the stock boards.. stocks gonna rocket buy buy buy and what happens ? What goes up must come down

[Robnlaura]

Homebuyers who have the ability to wait for the bidding wars to disappear, prices to stagnate, and listings to stay on the market longer will get more house for their dollar," says Hager. "Homebuyers who can afford to sit on the sidelines during this overheated housing market will definitely be rewarded."

[rsmurano]

There are facts: people are leaving certain states because how they are run, crime, taxes, etc.., that's a fact.
Housing prices will continue to go up if the demand outpaces the supply. Fact of life.
If you sell a house today to buy in TV, you are also selling at a premium and buying at a premium, hopefully it will be a wash.
If you want to buy in TV, find the best you can afford in the area you want and don't think what the future will do to your house prices, just enjoy life.

[Timothyimitchell]

bunch of new articles coming out that indicate a cooling off in many markets more inventory buyer pools shrinking building costs starting to drop.. motley fool has an article about a pending housing crash.. who knows really we are hoping for a drop in prices I’m seeing a lot more inventory of new homes. The old stuff not even interested in way overpriced.. it’s a waiting game and with this new surge who knows what’s gonna happen.

These are facts

[Normal]

I don’t see the financials taking a 2008 type hit. It just isn’t going to happen. There isn’t that much debt out there.

[JMintzer]

I blame the snowbirds... Hell, they're blamed for everything else, why not this? :1rotfl::1rotfl::1rotfl:

[lkagele]

Hello All - I'm Susan, from Lancaster, single and have finally made the decision to buy a home here in The Villages. I'm currently here in The Villages searching for a home and I'm very amazed by the prices of both new and used homes here.

In the new southern area, homes are selling very quickly, supply is low ( compared to last year ) and new homes prices are just crazy. Used home prices are even worse.

How are you guys dealing with the massive increase in home prices within The Villages?
Should I wait until the prices stabilize?

I can't believe that a new house I saw three years ago when Fenny first became developed is now on sale on the used home market for 40% more in just three years !

I have no idea what to do, please help. Thank You Susan of Lancaster

As far as I'm concerned, my kids are the only ones that are going to be effected from any increase or decrease in prices.

I've always looked at it as you're buying a lifestyle and they throw in a house. If you love the lifestyle TV offers as 10's of thousands do, buy your house and start enjoying your active golden years.

[graciegirl]

Hello All - I'm Susan, from Lancaster, single and have finally made the decision to buy a home here in The Villages. I'm currently here in The Villages searching for a home and I'm very amazed by the prices of both new and used homes here.

In the new southern area, homes are selling very quickly, supply is low ( compared to last year ) and new homes prices are just crazy. Used home prices are even worse.

How are you guys dealing with the massive increase in home prices within The Villages?
Should I wait until the prices stabilize?

I can't believe that a new house I saw three years ago when Fenny first became developed is now on sale on the used home market for 40% more in just three years !

I have no idea what to do, please help. Thank You Susan of Lancaster

I think that prices will continue to go up. Here, there, and everywhere.

Prices are surging. Here's what is getting more expensive - CNN (https://www.cnn.com/2021/06/10/economy/rising-prices/index.html)

[Robnlaura]

And yet inventory in the villages is rising slowly but surely.. no we won’t go back to 2008 agreed but the new home builds will be many.. just a fact. For us it’s a waiting game and if the villages remains overpriced we will stay where we are it’s paid for

[TheTourVan]

As someone that has been down there twice in the last month looking, the increase in price is approximately 20% on new homes based on sheets they gave us showing last year to this year. That may not seem like much, but when a house is starting at 300 before and now starts at 360, its deafening to buying anything worthy currently. We are holding out.

[Jayhawk]

As someone that has been down there twice in the last month looking, the increase in price is approximately 20% on new homes based on sheets they gave us showing last year to this year. That may not seem like much, but when a house is starting at 300 before and now starts at 360, its deafening to buying anything worthy currently. We are holding out.

Do what you want, but that same house is just as likely to be $420,000 next year as it is to be less than now.

[TheTourVan]

Do what you want, but that same house is just as likely to be $420,000 next year as it is to be less than now.

Could be, but historically that isn't the case in 55+ communities in terms of pricing those out and inflation ratio. If it is...it is. By that token our other homes will have risen and it ends up in a wash.

If we end up in a situation where the Villages is up 60-80% on new in a 24 month period, the end would be near as inflation can't keep up and retirees couldn't afford to come.