Looks like the housing market has cooled down a lot because of record high prices.

[joelfmi]

Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less competition.
Housing Market Update: Pending Sales Slide as New Listings Reach Pre-Pandemic Levels, THIS I HOPE WILL STOP THE GREED OF SELLERS
Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less as per Redfin

[dewilson58]

OR..............Inventory is very limited so there is nothing to pend.

[joelfmi]

After looking at some of the resale's which needed thousands of dollars in upgrades and were dated 10 year home and older. It was not the best idea to purchase now, because of the prices they were asking.

[joelfmi]

Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less competition.
Housing Market Update: Pending Sales Slide as New Listings Reach Pre-Pandemic Levels
Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less :clap2:

[JMintzer]

GREED!

Everybody drink!

[dewilson58]

Greed of the Sellers???
:1rotfl:
I guess they should not except offers.
:1rotfl:

[Kenswing]

Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less competition.
Housing Market Update: Pending Sales Slide as New Listings Reach Pre-Pandemic Levels, THIS I HOPE WILL STOP THE GREED OF SELLERS
Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less as per Redfin
It appears you know NOTHING about real estate. The buyers set the price. Not the sellers.

We recently sold our house. We presented an asking price. The buyers decided to bid it much higher.

[Papa_lecki]

OR..............Inventory is very limited so there is nothing to pend.

It’s almost like there should be some economics rule about supply a d demand.

[Stu from NYC]

It appears you know NOTHING about real estate. The buyers set the price. Not the sellers.

We recently sold our house. We presented an asking price. The buyers decided to bid it much higher.

Together the buyer and the seller set the final price.

[vintageogauge]

Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less competition.
Housing Market Update: Pending Sales Slide as New Listings Reach Pre-Pandemic Levels, THIS I HOPE WILL STOP THE GREED OF SELLERS
Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less as per Redfin

Sellers are not greedy, multiple buyers set the tone. "Some buyers have hit their limit" are the buyers that can't afford the appreciated pricing in todays market and don't care to settle for a home they can afford. Thousands of boomers retiring every day and TV only gets 8 or 10 of them each day, the developers have nothing to fear my dear. There's a good buy over on Wade Terrace LOL.

[FromDC]

I checked The Villages app this morning and it showed 28 new homes for sale here in TV. Now at 7pm (12 hours later), there are only 23 new homes for sale. Our new home TV market is hot, hot, hot.

I say not, not, not to buying at this time.

[JMintzer]

It appears you know NOTHING about real estate. The buyers set the price. Not the sellers.

We recently sold our house. We presented an asking price. The buyers decided to bid it much higher.

Those GREEDY buyers!

[Bogie Shooter]

Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less competition.
Housing Market Update: Pending Sales Slide as New Listings Reach Pre-Pandemic Levels, THIS I HOPE WILL STOP THE GREED OF SELLERS
Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less as per Redfin
Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less competition.
Housing Market Update: Pending Sales Slide as New Listings Reach Pre-Pandemic Levels
Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less :clap2:
Is there an echo in here?

[Velvet]

My house was not on the market, and I got an offer…. I’m still just getting everything upgraded in the house for me….

[Normal]

I don’t see it cooling off. 25 homes for sale is good? There used to be a lot more inventory to choose from. Perhaps the ideal situation is to sell a home now for today’s market pricing and then build? But cooling off? Have you checked the prices of homes or lots lately? A 250 K Gardenia is almost double the price.

It’s almost like you are wishing for what isn’t true.

[Happydaz]

Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less competition.
Housing Market Update: Pending Sales Slide as New Listings Reach Pre-Pandemic Levels, THIS I HOPE WILL STOP THE GREED OF SELLERS
Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less as per Redfin

Housing prices go up and down. It has nothing to do with the “GREED OF SELLERS.” Too few houses on the market coupled with high demand causes higher prices. The opposite happens when a high inventory is available. In a buyers market sellers think buyers are too fussy and demanding when they low ball the price and demand all kinds of concessions.

[asianthree]

Three home we looked at by MLS have just had a price decrease yesterday. Not a big deal for us, none hit the mark for us, but might for someone else

[graciegirl]

Three home we looked at by MLS have just had a price decrease yesterday. Not a big deal for us, none hit the mark for us, but might for someone else

Where did you see three homes with a price decrease yesterday?

It is sort of a hobby for me to watch the housing market here. I see very few for sale. Very limited. As soon as they are listed, they sell.

[Happinow]

Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less competition.
Housing Market Update: Pending Sales Slide as New Listings Reach Pre-Pandemic Levels
Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less :clap2:

A house is worth what a buyer will pay!

[Velvet]

A house is worth what a buyer will pay!

To get the owner to sell the house.

[shut the front door]

Yeah, whatever. I personally know of an offer that was made on a resale 2 days ago that was 25k over asking pice and got turned down.

[KAM+6]

Yeah, whatever. I personally know of an offer that was made on a resale 2 days ago that was 25k over asking pice and got turned down.

Probably had contingencys.

[Chi-Town]

Check your Zestimate this week. Mine cooled down

[Ben Franklin]

Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less competition.
Housing Market Update: Pending Sales Slide as New Listings Reach Pre-Pandemic Levels, THIS I HOPE WILL STOP THE GREED OF SELLERS
Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less as per Redfin


Buyers determine the price, not seller's greed. Seller ask a price and buyer says Yay or Nay.

[asianthree]

Where did you see three homes with a price decrease yesterday?

It is sort of a hobby for me to watch the housing market here. I see very few for sale. Very limited. As soon as they are listed, they sell.

Most homes are on the market such a short time. I haven’t bothered to track the housing market, if push notice comes we look. Guessing your hobby would not interest the agents that sent me email yesterday with the decrease. One we bid on, two weeks ago, owner turned it down, and now they want to accept our offer. None of the homes we have looked at in the past 6 weeks ever made it on Zillow.

[thevillages2013]

Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less competition.
Housing Market Update: Pending Sales Slide as New Listings Reach Pre-Pandemic Levels, THIS I HOPE WILL STOP THE GREED OF SELLERS
Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less as per Redfin
An article you find on Redfin about the real estate market ! Seriously? The whole country? What market? Some are different than others and TV definitely is.

[Girlcopper]

Together the buyer and the seller set the final price.
Correct. So why is the seller being blamed? Ive already seen recent sales quickly listed for sale again at a higher price. So, who is the blame. The buyer!! They buy a house and immediately flip it for a higher price with nothing extra upgraded. Greedy investors

[Laker14]

It appears you know NOTHING about real estate. The buyers set the price. Not the sellers.

We recently sold our house. We presented an asking price. The buyers decided to bid it much higher.

I hope you aren't one of those greedy sellers who choose to accept the highest offer.

[dewilson58]

Joey is probably one of those posters who blame the greedy developer for selling houses in Sumter County.

:ohdear:

[Hiltongrizz11]

You cannot possibly say that. That's such a broad and blanket statement that it's just not true

[Hiltongrizz11]

Anyone can go in and alter a Zestimate
If you're using that as a guideline then I suppose you're playing your day according to the stars

[tmbozoki@gmail.com]

You just described classic Economics. High demand high prices, low demand low prices. It's 100% true for anything in the economy has nothing to do with greed.

[Dr Winston O Boogie jr]

Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less competition.
Housing Market Update: Pending Sales Slide as New Listings Reach Pre-Pandemic Levels, THIS I HOPE WILL STOP THE GREED OF SELLERS
Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less as per Redfin

From where does this information come?

[ithos]

If someone is selling a home then odds are they plan on buying a home elsewhere in which case they will be facing the same elevated prices in a hot market.

Eventually government and Fed policies will precipitate another housing and financial collapse. Then you will find better prices. But that is probably years away.

[nick demis]

Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less competition.
Housing Market Update: Pending Sales Slide as New Listings Reach Pre-Pandemic Levels, THIS I HOPE WILL STOP THE GREED OF SELLERS
Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less as per Redfin

Sounds like some one is envious to me.

[J1ceasar]

the last time we saw something like this was 20 years ago when prices went up 25% a year for three to four years in Florida

Don't worry folks when prices go up they always go down in Florida

It’s almost like there should be some economics rule about supply a d demand.

[Annie66]

Those GREEDY buyers!

If you were selling, would you be one of them?

[merrymini]

I love the “greedy” guys. Your home is usually the biggest single investment people make and I see no reason why people should not sell if the opportunity arises to make money. People have bought in a hot market before, and had to eat it when things cooled off. So, if you are willing to risk buying at a high point, go right ahead.

[Normal]

We are all staring down the throat of a massive inflationary beast. Whether there is a bubble (there isn’t), or a shortage, a WallStreet debacle, or whatever, the housing prices are here to stay. Sell your house for more, pay more for the next, the whole thing offsets.

Remember, the US economy had more than a Trillion dollars of funds injected into it along with penned up savings. People are willing to pay more. Get used to it.

Enjoy what you have saved and ignore the stress of worrying about others.

[Normal]

It’s all the free market and supply versus demand.

Everyone is staring down the throat of a massive inflationary beast. Whether there is a bubble (there isn’t), or a shortage, a WallStreet debacle, or whatever, the housing prices are here to stay. Sell your house for more, pay more for the next, the whole thing offsets. Your existing home gives you buoyancy in a sea of inflation.

Remember, the US economy had more than a Trillion dollars of funds injected into it along with trillions in penned up savings. People are willing to pay more. Get used to it.

Enjoy what you have saved and ignore the stress of worrying about others.

[Kenswing]

I hope you aren't one of those greedy sellers who choose to accept the highest offer.
No, it was my wife. I wanted to accept the lowest offer so we wouldn't appear to be greedy but she overruled me. :1rotfl:

[Petersweeney]

This is a cage match where no one gets knocked out….

[ThirdOfFive]

It’s all the free market and supply versus demand.

We are all staring down the throat of a massive inflationary beast. Whether there is a bubble (there isn’t), or a shortage, a WallStreet debacle, or whatever, the housing prices are here to stay. Sell your house for more, pay more for the next, the whole thing offsets.

Remember, the US economy had more than a Trillion dollars of funds injected into it along with trillions in penned up savings. People are willing to pay more. Get used to it.

Enjoy what you have saved and ignore the stress of worrying about others.

It is not so much what you're buying (or selling) but WHERE you are buying or selling.

Our home in Minnesota gained over $50,000 in value in the space of a few months. We were located in a small town about 50 miles from Minneapolis. When the riots happened in Minneapolis and St. Paul there was an exodus of people from those cities and our little town became a bedroom community for people who worked in Minneapolis but who decided that continuing to live there was not worth the risk. Interestingly enough our house sold for substantially more than the asking price, and in the space of three days. It was our ticket to The Villages, so to speak.

[DAVES]

Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less competition.
Housing Market Update: Pending Sales Slide as New Listings Reach Pre-Pandemic Levels, THIS I HOPE WILL STOP THE GREED OF SELLERS
Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less as per Redfin

HUH? "This I hope will stop the greed of sellers," I judge ALL by the same rules. Perhaps, that makes me strange.

GREED? When someone else sells their home for a high price that is greed. When, if I sell my house for a high price that is not GREED. HUM, how some THINK, now that IS STRANGE to me.

[Marine1974]

You think Greed of seller’s . What do they do about buying a new home that’s over priced in this market if they don’t get a higher price for the home their selling ?

[DAVES]

It’s all the free market and supply versus demand.

Everyone is staring down the throat of a massive inflationary beast. Whether there is a bubble (there isn’t), or a shortage, a WallStreet debacle, or whatever, the housing prices are here to stay. Sell your house for more, pay more for the next, the whole thing offsets. Your existing home gives you buoyancy in a sea of inflation.

Remember, the US economy had more than a Trillion dollars of funds injected into it along with trillions in penned up savings. People are willing to pay more. Get used to it.

Enjoy what you have saved and ignore the stress of worrying about others.

Reminder to all. We all know real estate only goes up. We all know the stock market only goes up. How quickly we forget. N/C reminder to all EXCEPT WHEN IT DOESN'T.

"more than a Trillion dollars of funds injected into it." Am I the only one who realizes that I cannot comprehend the number we regularly toss about a TRILLION or what out national debt is this week?

History shows there is no way this will end well.

[Pedrocarrasco01@yahoo.com]

Sellers are not greedy, multiple buyers set the tone. "Some buyers have hit their limit" are the buyers that can't afford the appreciated pricing in todays market and don't care to settle for a home they can afford. Thousands of boomers retiring every day and TV only gets 8 or 10 of them each day, the developers have nothing to fear my dear. There's a good buy over on Wade Terrace LOL.

3 years ago I put our home in Boynton Beach up for sale. I interviewed the Realtor, they took pictures, the first day in the market, she presented me with 4 offers.
First was at 15k less than asking price
Second was at asking price but VA financing
Third was at 10K over asking price conventional financing
Fourth offer was full price all Cash close in 20 days.
I accepted the Fourth offer, my realtor also had 10 other back up offers which were not needed.
Happy, Happy, Happy Cash is KING. financing can fall through in many ways
I don’t blame the sellers for trying to get as much money for their home, no, is not greed, it is what buyers are willing to pay. I walked out of a deal here when the realtor told me that there was other offers and I had to up mine, I told her withdraw it. Mine was all cash close in 30 days.

[LMBNY]

I've been watching/studying the market in The Villages for a year like a madwoman. We're here now for a month and were hoping to purchase, but I don't think it's going to happen. What is most interesting to me is checking out the property history. There are so many homes that have sold in Feb/March/April, then put back on the market in June/July for 30-50K more. No upgrades/renovations. Nothing. Just a fast flip. And people are buying!

[Dr Winston O Boogie jr]

the last time we saw something like this was 20 years ago when prices went up 25% a year for three to four years in Florida

Don't worry folks when prices go up they always go down in Florida

Property values have never gone down in The Villages in any year since 1985. The Villages is not like the rest of Florida or the rest of the country.

[Grunt 1946]

I just read, for the first time in the history of Real Estate in America, there are more Real Estate Agents than homes for sale.

[DAVES]

From where does this information come?

All this sort of information is of little value. Even the source is of little value. Real Estate is local. In the Villages there is a shortage of homes for sale and plenty of buyers.

In the villages and perhaps everywhere there are people who shop for sport. Far less than diner.

[Koapaka]

All this sort of information is of little value. Even the source is of little value. Real Estate is local. In the Villages there is a shortage of homes for sale and plenty of buyers.

In the villages and perhaps everywhere there are people who shop for sport. Far less than diner.

BINGO above poster!

In todays paper one of the Real Estate Companies commented today that resale inventory is down more than 75% from this time last year.....so for the OP of this thread, it is not the cost of homes, it is the AVAILABILITY that is slowing sales here in TV.

[DAVES]

I just read, for the first time in the history of Real Estate in America, there are more Real Estate Agents than homes for sale.

Not surprising or disturbing. Stocks for example there are more funds than there are companies traded.

You pass a test, you pay the fee and you are an agent.

We were in our previous home for 40 plus years. I read somewhere that the average is six years between moves. Fuzzy math, of course it is but 40 divided by 6- seven lost sales commissions on us. We are bad for their business.

[APovi]

" THIS I HOPE WILL STOP THE GREED OF SELLERS"

So you'll sell your house for what you paid?
Post your address, so I can send you a contract!

[Vermilion Villager]

It is not so much what you're buying (or selling) but WHERE you are buying or selling.

Our home in Minnesota gained over $50,000 in value in the space of a few months. We were located in a small town about 50 miles from Minneapolis. When the riots happened in Minneapolis and St. Paul there was an exodus of people from those cities and our little town became a bedroom community for people who worked in Minneapolis but who decided that continuing to live there was not worth the risk. Interestingly enough our house sold for substantially more than the asking price, and in the space of three days. It was our ticket to The Villages, so to speak.

Most of us Minnesotan's are known for our fish tales....FACT people DID NOT leave Minneapolis and St. Paul in droves because of 3 days of civil unrest (riots if you will). Communities that are 50 miles from the Twin Cities HAVE BEEN bedroom communities for at least 30 years. Yes...more people are living farther out because they cannot afford the high home prices in the Twin City metro area. My townhome in Maple Grove has almost doubled in value since 2008. Lake homes in Northern Minnesota have tripled in the last 3 years and real estate agents are going out of business due to lack of inventory

Morale of the story...this is happening everywhere!

[Wdixied]

We were there last month looking to purchase a home. This was our second time there looking. I agree with pricing being outrageous. Also the realtors will sell you anything. While we were there we saw a home we really liked but had some near future structural issues. Some of the new homes looked like they used leftover building materials to design and nothing matched. Needless to say, we went home very discouraged.

[Pat2015]

Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less competition.
Housing Market Update: Pending Sales Slide as New Listings Reach Pre-Pandemic Levels, THIS I HOPE WILL STOP THE GREED OF SELLERS
Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less as per Redfin

I don’t think the housing market has slowed down as there’s still little inventory in most markets and mortgage interest rates are still at all time lows. The question is will the prices that sellers are getting now become the comps/going price in neighborhoods in the next couple years or are buyers buying high now just to find that they have negative equity in the years to come?

[davem4616]

TV is seen as a very desirable place to live by many...no surprise that prices are higher than the rest of Florida

having had a 2nd home in Ft Lauderdale for 20 years I can assure you whatever extra money it costs to buy a home in TV is totally worth it

[vintageogauge]

I've been watching/studying the market in The Villages for a year like a madwoman. We're here now for a month and were hoping to purchase, but I don't think it's going to happen. What is most interesting to me is checking out the property history. There are so many homes that have sold in Feb/March/April, then put back on the market in June/July for 30-50K more. No upgrades/renovations. Nothing. Just a fast flip. And people are buying!

There is nothing wrong with what they are doing, that's a business that is quite common. Don't forget they also take the chance of the values going down at some point so it is a bit of a gamble for them.

[KRMACK55]

Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less competition.
Housing Market Update: Pending Sales Slide as New Listings Reach Pre-Pandemic Levels, THIS I HOPE WILL STOP THE GREED OF SELLERS
Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less as per Redfin
That’s not true at all. There are still markets going strong and it’s not greed. Houses selling in the south for the weather, last years market soft during Plandemic ! Sound jealous

[KRMACK55]

It appears you know NOTHING about real estate. The buyers set the price. Not the sellers.

We recently sold our house. We presented an asking price. The buyers decided to bid it much higher.
Thank you that’s exactly what happens. Unbeknownst to me i tried to sell my house on my own but the flippers and low ball investors posing as residents here offered less than i paid. Then a buyer from CA who wanted an extra large lot found my Zillow then made an offer and for the first time I’m getting a fair price. I’m leaving the grumpy opinionated villages it’s not real life and it was a big mistake for many people. Zip it if you don’t know what you’re commenting about it.

[Velvet]

I love the “greedy” guys. Your home is usually the biggest single investment people make and I see no reason why people should not sell if the opportunity arises to make money. People have bought in a hot market before, and had to eat it when things cooled off. So, if you are willing to risk buying at a high point, go right ahead.

Because you can’t buy everything with money. Some people buy a “home”. And they individualize it to their preference, and they like their neighbors, and they have a family history in that home … and then some yahoo makes the assumption that if they offer enough money, the homeowner will sell?

Money is only worth as much quality of life it can buy.

[ithos]

Thank you that’s exactly what happens. Unbeknownst to me i tried to sell my house on my own but the flippers and low ball investors posing as residents here offered less than i paid. Then a buyer from CA who wanted an extra large lot found my Zillow then made an offer and for the first time I’m getting a fair price. I’m leaving the grumpy opinionated villages it’s not real life and it was a big mistake for many people. Zip it if you don’t know what you’re commenting about it.

You are definitely in the minority but I am interested in what you mean by your description of villagers. You seem quite angry and I am not sure if a change of zip codes will do much about that.

[tghoul]

A salesman told me that in June The Villages set a monthly record for new home sales.

[shut the front door]

Property values have never gone down in The Villages in any year since 1985. The Villages is not like the rest of Florida or the rest of the country.

Try telling that to the people who bought in 07 and lost over a $100k when they sold 7 years later.

[Dr Winston O Boogie jr]

Try telling that to the people who bought in 07 and lost over a $100k when they sold 7 years later.

Please state some actual cases.

[kathyspear]

You cannot possibly say that. That's such a broad and blanket statement that it's just not true

When you don't quote the post you are replying to nobody knows what you are referring to.

kathy

[ithos]

Try telling that to the people who bought in 07 and lost over a $100k when they sold 7 years later.

But this time is different. That will never happen again.:icon_wink:

However, in researching The Villages before buying, I discovered that Sumter County was near the bottom in rates of foreclosures in the country.

[Spalumbos62]

Sounds like some one is envious to me.

Lol...sure looks that way.

[DALEPQ]

It is really "Econ. 101" - Supply and Demand!!!

[cj1040]

Accept not except which means to exclude. Every seller wants to maximize their profit. What buyers are willing to pay is what determines the market. Bank appraisals if mortgaged can bring the deals in line a bit too.

[Sportsguy1]

Scooter the DJ always says ‘be nice to the kids here, they are going to pay you more for your home than you did’!
In all seriousness, my wife and I just bought a home here. We’ve been coming for years and renting for a few weeks, then a few months and now we bought. Low inventory of homes are certainly making it a sellers market but also the 2.85% interest keeps your payment down if you take out a partial mortgage on your home. We most likely paid a few thousand more than what we could have say a year or two ago but there is no place like this in the world and to make this our retirement place and enjoy and live the lifestyle for the next 20-30 years it was well worth it.

[Sportsguy1]

Scooter the DJ always says ‘be nice to the kids here, they are going to pay you more for your home than you did’!
In all seriousness, my wife and I just bought a home here. We’ve been coming for years and renting for a few weeks, then a few months and now we bought. Low inventory of homes are certainly making it a sellers market but also the 2.85% interest keeps your payment down if you take out a partial mortgage on your home. We most likely paid a few thousand more than what we could have say a year or two ago but there is no place like this in the world and to make this our retirement place and enjoy and live the lifestyle for the next 20-30 years it was well worth it.

[Guitarman1951]

Greed has absolutely nothing to do with it. It is basic supply and demand economics. Realters know the market and adjust the selling price for your house accordingly. If the market was at $400k for your house, would you sell it for $350k just so everyone knows that you're not greedy? The market will adjust itself when the buying slows down.

[Neils]

Basic economics

Higher wages generate inflation, artificially low interest rates fuel home prices, gov pumping trillions of $ hot off the printing press out to every needy corner they can think of.

Perfect storm.

Who loses? Anyone with cash or living on a fixed income.

Hang on for the ride

[Neils]

You are definitely in the minority but I am interested in what you mean by your description of villagers. You seem quite angry and I am not sure if a change of zip codes will do much about that.

One less grumpy villager soon!

[tvbound]

Property values have never gone down in The Villages in any year since 1985. The Villages is not like the rest of Florida or the rest of the country.

"Property values have never gone down in The Villages in any year since 1985."


That's simply not true. My research has shown that The Villages MSA went down about 9% in year-over-year prices in 2008, which admittedly is still less than the national average in the same period. This comes directly from a Daily Sun article titled "All About Value" written in 2020.

While no one can definitively predict what will happen in the future, it's our opinion this current crazy housing bubble will also burst, just like all previous bubbles - versus a slow but steady increase seen in less volatile times.

[dewilson58]

Try telling that to the people who bought in 07 and lost over a $100k when they sold 7 years later.

Did not happen unless the house was a piece of crap.
The Villages house prices did get soft, but did not lose $100k.
Whatever the lost, the value returned in two years.

[asianthree]

Please state some actual cases.

In 07 the buying frenzy was just as bad as it is today. Of course it was also driven by, that was the buildout. Homes had offers 6 deep, with new homes going in minutes. We came that year, a patio villa started at $180,000. I still have the original paperwork from the homes for sale then somewhere in a file.

We chose to wait, plus couldn’t get a new home anyway. Our friend bought in 07, sold in 2008 for loss, after upgrading the kitchen, baths, and lanai.

We came back in 2010 bought exact home different village for $118,000.

[joelfmi]

I've been watching/studying the market in The Villages for a year like a madwoman. We're here now for a month and were hoping to purchase, but I don't think it's going to happen. What is most interesting to me is checking out the property history. There are so many homes that have sold in Feb/March/April, then put back on the market in June/July for 30-50K more Home that are being flipped be very careful . No upgrades/renovations. Nothing. Just a fast flip. And people are buying!.Before anyone that buys a home that is being flipped for cash have the home apprised and inspected, Inside and outside for construction defects, electric and plumbing upgrades, roof, sink holes, noisy location, power lines, cost of renovations, illegal plumbing and electric work, ,neighbor's and rules of HOA, this is just a little of what must be done. As a rule flipped home need a lot of due diligence.

[manaboutown]

During my first visit to TV in the fall of 2009 people told me about the new home buying frenzy in the last few years before 2007. Apparently at one time two large tents were set up to handle the crowds wanting to buy. If I recall correctly I read the sales of new homes in TV ran around 4,000 in 2004, 2005 and 2006. Anyway, by late 2009 prices on new homes had been reduced. There were still plenty of sales but in the 2,000 range. Prices were off from before 2007, but not to the degree they were elsewhere. IMHO The Villages weathered that storm due to its buyer demographic. What seemed to be holding people up in 2009 was they could not sell their "up north" homes for the amounts needed to retire and relocate to TV.

The Villages New Home Sales: 2003-Present | Inside The Bubble 2021 (https://www.insidethebubble.net/new-home-sales/)

[Villageswimmer]

Anyone can go in and alter a Zestimate
If you're using that as a guideline then I suppose you're playing your day according to the stars

Not true. One can change/update home facts but not Zestimate.

[vintageogauge]

.Before anyone that buys a home that is being flipped for cash have the home apprised and inspected, Inside and outside for construction defects, electric and plumbing upgrades, roof, sink holes, noisy location, power lines, cost of renovations, illegal plumbing and electric work, ,neighbor's and rules of HOA, this is just a little of what must be done. As a rule flipped home need a lot of due diligence.

No need for an appraisal they can't keep up with the changes, you either pay what they're asking or you don't get it. All homes purchased be it from a flipper or original owner should be inspected. A lot of these homes that are being purchased and re-sold are only a few years old, if south of 44 the oldest homes are just over 4 years and need very little. No need to be paranoid because a flipper is making a few bucks on a re-sale.

[vintageogauge]

In 07 the buying frenzy was just as bad as it is today. Of course it was also driven by, that was the buildout. Homes had offers 6 deep, with new homes going in minutes. We came that year, a patio villa started at $180,000. I still have the original paperwork from the homes for sale then somewhere in a file.

We chose to wait, plus couldn’t get a new home anyway. Our friend bought in 07, sold in 2008 for loss, after upgrading the kitchen, baths, and lanai.

We came back in 2010 bought exact home different village for $118,000.

There was a big difference in 2007 and a couple years earlier and that was giving loans to those that were not credit worthy which lead to mass foreclosures. That is not going on today and unless your are buying home as a investment a little drop in value shouldn't be a concern.

[Topspinmo]

After looking at some of the resale's which needed thousands of dollars in upgrades and were dated 10 year home and older. It was not the best idea to purchase now, because of the prices they were asking.

10 years dated LOL, so you expect someone to up date there house to you’re standards so you can lowball bid. You want updated house buy new one.

[joelfmi]

Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less competition.
Housing Market Update: Pending Sales Slide as New Listings Reach Pre-Pandemic Levels, THIS I HOPE WILL STOP THE GREED OF SELLERS
Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less as per Redfin As of july 5th Home buying competition has eased a bit as more house hunters postpone their search because they’re priced out, burnt out, or would rather spend their money on activities like travel and entertainment now that pandemic restrictions are being lifted.’

[dewilson58]

As of july 5th Home buying competition has eased a bit as more house hunters postpone their search because they’re priced out, burnt out, or would rather spend their money on activities like travel and entertainment now that pandemic restrictions are being lifted.’

Jus because you keep repeating it, doesn't make it true.

[Normal]

There was a big difference in 2007 and a couple years earlier and that was giving loans to those that were not credit worthy which lead to mass foreclosures. That is not going on today and unless your are buying home as a investment a little drop in value shouldn't be a concern.

Exactly, we aren’t facing a financial crisis and collapse, the market has not kept up with the demand for homes. People don’t have the short sell option they used last time. The fact is Inventory just can’t keep up with buyers because of the pandemic’s effects. Perhaps when the Fed raises the interest rates next year, prices may level off at their new highs?

[Babubhat]

Realty executives posts on YouTube weekly with a report on listings and sales.

[TNGary]

It is not a zero sum gain process. A vast majority of the stakeholders want and reinforce price escalation: Seller, Realtor, City appraisers, Banker, Independent(?) Appraiser supports the process to get the jobs to be known as a deal maker not a deal breaker. Basic stuff. Yes some supply and demand dynamic impact short term cycle, but not long term trend. IMO

[vintageogauge]

As of july 5th Home buying competition has eased a bit as more house hunters postpone their search because they’re priced out, burnt out, or would rather spend their money on activities like travel and entertainment now that pandemic restrictions are being lifted.’

Or they are afraid of holiday traffic both on the ground and at the airports and the fear of a possible hurricane to those who have never experienced one. Let's see how the rest of the month and summer goes.

[KAM+6]

In 07 the buying frenzy was just as bad as it is today. Of course it was also driven by, that was the buildout. Homes had offers 6 deep, with new homes going in minutes. We came that year, a patio villa started at $180,000. I still have the original paperwork from the homes for sale then somewhere in a file.

We chose to wait, plus couldn’t get a new home anyway. Our friend bought in 07, sold in 2008 for loss, after upgrading the kitchen, baths, and lanai.

We came back in 2010 bought exact home different village for $118,000.

Your wrong. New patio villa in Liberty Park was $132 with $10,000 bond in 2007. No house behind

[ThirdOfFive]

Most of us Minnesotan's are known for our fish tales....FACT people DID NOT leave Minneapolis and St. Paul in droves because of 3 days of civil unrest (riots if you will). Communities that are 50 miles from the Twin Cities HAVE BEEN bedroom communities for at least 30 years. Yes...more people are living farther out because they cannot afford the high home prices in the Twin City metro area. My townhome in Maple Grove has almost doubled in value since 2008. Lake homes in Northern Minnesota have tripled in the last 3 years and real estate agents are going out of business due to lack of inventory

Morale of the story...this is happening everywhere!
Depends on where one gets their information, I would think. "Homers" like The Star Tribune, Pioneer Press, KARE, WCCO, etc. etc. are going to be glossing over the facts for obvious for various and obvious reasons. One has to be able to look beyond the propaganda.

This is not new, by the way. At least fifteen years ago as I recall (maybe more) a Twin Cities publication had a well-researched article that quantified the loss to Minnesota represented by people moving south and west due to economic reasons. I cannot recall the exact numbers but the loss to Minnesota, both in people and in the taxable income and spending power they took with them, was in the billions of dollars. It was so bad, even at that time, that the then-Governor of Florida once joked publicly that he was thinking of sending the Governor of Minnesota a thank-you card for all the people from Minnesota flooding into his state and bringing their toys, spending power and financial resources with them. It was bad then. I can only assume, given the current situation, that it is even worse now.

Today? Again, if one is willing to look beyond the propaganda, things ARE even worse. An article by one Justin Lee, a writer focusing on where and why people move, summed it up nicely in an article "Moving Decisions: Is It Time To Leave Minneapolis, MN?" Which appeared on the website of Nexus Auto Transport on September 6, 2020 (about the same time we sold our house, as a matter of fact). In the article he lists seven reasons why people are leaving Minnesota in general and Minneapolis in particular, doing a good job of providing information for each. The reasons, in the order Mr. Lee listed them, are 1. the Pandemic; 2. violent protests and escalating crime; 3. efforts to de-fund the police; 4. economic disparities; 5. harsh winters; 6. the high cost of living; and 7. the shift towards remote work. One might find it informative to check this, and other like articles, out.

A couple of examples from personal experience: First, the couple that bought our home were residents of a first-ring Minneapolis suburb, who saw the house on the third day it was listed and made an offer of substantially more than we were asking within a matter of hours after seeing it. Second, a former co-worker of my wife's, once working from home became possible, saw the handwriting on the wall regarding how fast things were degrading in the Minneapolis area and availed himself of the opportunity to leave not just his home in a suburb of Minneapolis but the entire state of Minnesota, moving here to The Villages, as a matter of fact.

As much as we loved Minnesota, we decided to leave once we saw the handwriting on the wall.

[Bilyclub]

As of july 5th Home buying competition has eased a bit as more house hunters postpone their search because they’re priced out, burnt out, or would rather spend their money on activities like travel and entertainment now that pandemic restrictions are being lifted.’

Unless you work for the developer or the preferred closing companies you have no solid information to back that up.

[Robnlaura]

Unless you work for the developer or the preferred closing companies you have no solid information to back that up.

We recently looked at homes in the villages (new) noted large tracts of “unreleased homes” noted large tracts of future development. Noted the only homes they took us to were “waterfront” hahahhahaha a retention pond. A salesman says o prices won’t drop .. guess he forgot about 2007. Wood futures dropped 50% building will be back in full swing soon. We decided that a 23% price increase in one year was unsustainable.. old homes we have no interest in. Yes we will wait.. remember all those foreclosures that Covid stopped happening… shadow inventory

[FromDC]

We recently looked at homes in the villages (new) noted large tracts of “unreleased homes” noted large tracts of future development. Noted the only homes they took us to were “waterfront” hahahhahaha a retention pond. A salesman says o prices won’t drop .. guess he forgot about 2007. Wood futures dropped 50% building will be back in full swing soon. We decided that a 23% price increase in one year was unsustainable.. old homes we have no interest in. Yes we will wait.. remember all those foreclosures that Covid stopped happening… shadow inventory At this moment, there are only 17 new homes on the market, according to The Villages app. Good idea that you decided to wait. It looks like people are just buying up whatever they can and hopefully it's something that they really want. Kind of like a land rush.

The Developer is putting in those 'ponds' so they can increase the home price. Our sales rep friend said the ponds look good now due to all the rain we have received, but beware. The Developer will not guarantee that water will always be in the pond. In my opinion, you can have a pond or pond scum or mush behind you house. No thanks.

[Babubhat]

Prices in Beaumont are far less expensive for comparable houses. You don’t get the amenities but some don’t want them.

[BlueStarAirlines]

Where did you see three homes with a price decrease yesterday?

It is sort of a hobby for me to watch the housing market here. I see very few for sale. Very limited. As soon as they are listed, they sell.

I just go into Redfin and :favorite" (heart) houses. You'll get an email when they go pending, sell, price change, etc. The OP is right, three did lower their asking price yesterday.

[JMintzer]

At this moment, there are only 17 new homes on the market, according to The Villages app. Good idea that you decided to wait. It looks like people are just buying up whatever they can and hopefully it's something that they really want. Kind of like a land rush.

The Developer is putting in those 'ponds' so they can increase the home price. Our sales rep friend said the ponds look good now due to all the rain we have received, but beware. The Developer will not guarantee that water will always be in the pond. In my opinion, you can have a pond or pond scum or mush behind you house. No thanks.

The 'ponds' are for irrigation and flood control...

And yes, you're correct. The water level will rise and drop, depending on the rainfall...

[kathyspear]

Prices in Beaumont are far less expensive for comparable houses. You don’t get the amenities but some don’t want them.

What/where is Beaumont?

kathy

[Bilyclub]

What/where is Beaumont?

kathy

466A West of Buena Vista, across from Pinellas Plaza.

[ithos]

Prices in Beaumont are far less expensive for comparable houses. You don’t get the amenities but some don’t want them.

Looks great. But the deal breaker for most... not a golf cart community.

[Kenswing]

What/where is Beaumont?

kathyAnother development that's not The Villages. Located behind Lowes.

[OrangeBlossomBaby]

At this moment, there are only 17 new homes on the market, according to The Villages app. Good idea that you decided to wait. It looks like people are just buying up whatever they can and hopefully it's something that they really want. Kind of like a land rush.

The Developer is putting in those 'ponds' so they can increase the home price. Our sales rep friend said the ponds look good now due to all the rain we have received, but beware. The Developer will not guarantee that water will always be in the pond. In my opinion, you can have a pond or pond scum or mush behind you house. No thanks.

According to the Villages Homefinder (their official webpage) there are 22 "new" homes for sale that are not already pending. There are three additional homesites that will build to your specifications. There are also almost 300 "new" homes for sale that are "pending."

Considering that NEW homes typically close within 30 days in the Villages, it's safe to assume that MOST of those pending homes were only sold within the last 30 days.

Doesn't sound to me like a slow-down at all.

[Robnlaura]

According to the Villages Homefinder (their official webpage) there are 22 "new" homes for sale that are not already pending. There are three additional homesites that will build to your specifications. There are also almost 300 "new" homes for sale that are "pending."

Considering that NEW homes typically close within 30 days in the Villages, it's safe to assume that MOST of those pending homes were only sold within the last 30 days.

Doesn't sound to me like a slow-down at all.

Well they are withholding inventory they have a run rate of three hundred homes a month (new) they will still build 300 homes a month no matter what so they withhold a 100 and next month they have 400 waiting to sell.. it’s a game to keep prices up and create fear you won’t be able to buy.. as for selling “waterfront” for 160k that’s them having a laugh .. note it’s always those same homes that are available.. will wait even it’s a year we will wait

[Jayhawk]

Greedy investors

Or as most say, Investors.

They are not in it to break even.

[JMintzer]

Well they are withholding inventory they have a run rate of three hundred homes a month (new) they will still build 300 homes a month no matter what so they withhold a 100 and next month they have 400 waiting to sell.. it’s a game to keep prices up and create fear you won’t be able to buy.. as for selling “waterfront” for 160k that’s them having a laugh .. note it’s always those same homes that are available.. will wait even it’s a year we will wait

Can you show me the evidence that they are "withholding inventory"?

Seriously, I'm very interested in your source for this information...

[jojo]

During my first visit to TV in the fall of 2009 people told me about the new home buying frenzy in the last few years before 2007. Apparently at one time two large tents were set up to handle the crowds wanting to buy. If I recall correctly I read the sales of new homes in TV ran around 4,000 in 2004, 2005 and 2006. Anyway, by late 2009 prices on new homes had been reduced. There were still plenty of sales but in the 2,000 range. Prices were off from before 2007, but not to the degree they were elsewhere. IMHO The Villages weathered that storm due to its buyer demographic. What seemed to be holding people up in 2009 was they could not sell their "up north" homes for the amounts needed to retire and relocate to TV.

The Villages New Home Sales: 2003-Present | Inside The Bubble 2021 (https://www.insidethebubble.net/new-home-sales/)

We bought in 2008 and I was monitoring TOTV daily. The pages were full of laments from folks up north that they were ready to buy in The Villages but could not sell their home, At that time we bought for much less than the home had originally sold for when it was built one year earlier.

[Laker14]

Can you show me the evidence that they are "withholding inventory"?

Seriously, I'm very interested in your source for this information...

It certainly makes no sense to me. Why would they do that in a booming market?

If the market were depressed, and they felt they could do better later and make up for the loss of the value of "money in hand", then maybe they'd do that. But now? They probably wish they could build them faster, right now.

[Becca9800]

It certainly makes no sense to me. Why would they do that in a booming market?

If the market were depressed, and they felt they could do better later and make up for the loss of the value of "money in hand", then maybe they'd do that. But now? They probably wish they could build them faster, right now.

Low inventory = increased prices.

[Normal]

Low inventory = increased prices.

Evidently it is a national problem, not just a Villages one. “ What inventory?” Is the question in every section of the country. There isn’t a bubble, there’s a trend and it is here to stay for a while. Millennials are looking for homes and there just aren’t enough built yet.

Is it a national conspiracy? It certainly doesn’t seem to be just a TV one!

[JMintzer]

Low inventory = increased prices.

So, either sell 10 houses for a few thousand more, or sell a hundred houses...

Hmmm, which one will make me more money...

https://1.bp.blogspot.com/-jWnrwGZtf5o/XYftp7do7FI/AAAAAAAACD0/fiC1NRtp8hczThQgzNbyy3H10BByCem_gCEwYBhgL/s1600/pooh.gif

[manaboutown]

The famous supply vs. demand...

[Bill14564]

So, either sell 10 houses for a few thousand more, or sell a hundred houses...

Hmmm, which one will make me more money...

https://1.bp.blogspot.com/-jWnrwGZtf5o/XYftp7do7FI/AAAAAAAACD0/fiC1NRtp8hczThQgzNbyy3H10BByCem_gCEwYBhgL/s1600/pooh.gif

There's always option three: Sell a hundred houses but only make ten available at a time so you can get a few thousand more for each.

[ithos]

In the 2008 home crisis, flippers went wild and created excess supply. It became cheaper to rent than to own. That is not the case now. Also the loan standards are more strict so that the buyers today are financially better off so that there will be no tsunami of foreclosures.

There very well may be another housing crisis in the future but not anytime soon. And if it happens I believe it will be the result of an economic dislocation, not the cause of it.

[Tim C.]

I think the tipping point is coming where housing prices are going to cool off significantly. Likely due to the inflation being caused by reckless deficit spending - the Fed will raise interest rates and POOF, prices on houses are going to settle in a big way. Plus the stock market - overvalued. steep sell-off will likely occur today. I believe a big correction ala 2008 is coming.

And the housing bubble? Reminds me of how things were in 2005 going into 2006. Took more than a decade for my house to be worth what I paid for it. Glad I'm not in that position any longer. Bought into TV before things got really nuts and no intentions of selling.

[Papa_lecki]

Can you show me the evidence that they are "withholding inventory"?

Seriously, I'm very interested in your source for this information...

Are they withholding inventory or controlling in which areas and which homes get sold. On TV app, there are consistently 25 to 30 new homes for sale. If your agent knows you want to buy, but you dont like any of those 25 to 30 homes, I guarantee a 31st home would become available that would meet your needs.

[Tim C.]

there's nothing in the law that says you have to list your home....people who aren't really in a "must sell" situation are always evaluating the market. but I know this - if you're an owner, and you're trying to sell, what makes you think that the MLS is "withholding" your listing?? Sorry, I don't buy it. if i was trying to sell, I'm up on MLS. Period.

now can a real estate agent call people or otherwise solicit people to sell? happens all the time. I get stuff in the mail every other day. emails. but convincing someone that "hey I have a buyer and they are hot for a house like yours so please let's list it now" is not the same as some conspiracy about withholding listings to artificially raise prices. I don't think the home market is that unified. Reality is this - there is a lot of pent-up demand to move due to COVID. COVID also drove up construction material costs so relatively fewer new homes are being built which makes existing homes relatively more valuable. and there is a big demand of people who want to move to Florida for tax reasons, weather reasons, political reasons. super low interest rates (for now).

Supply and demand. I think I heard about that in college...I dunno

[JMintzer]

There's always option three: Sell a hundred houses but only make ten available at a time so you can get a few thousand more for each.

And actual proof that is happening?

[JMintzer]

I think the tipping point is coming where housing prices are going to cool off significantly. Likely due to the inflation being caused by reckless deficit spending - the Fed will raise interest rates and POOF, prices on houses are going to settle in a big way. Plus the stock market - overvalued. steep sell-off will likely occur today. I believe a big correction ala 2008 is coming.

And the housing bubble? Reminds me of how things were in 2005 going into 2006. Took more than a decade for my house to be worth what I paid for it. Glad I'm not in that position any longer. Bought into TV before things got really nuts and no intentions of selling.

Most of that previous bubble was caused by the relaxing of lending standards, to make home loans "more fair", even to those with lousy credit. I know first hand, as a friend of mine was in the "B-Mortgage" business... He nearly lost everything when the crash came, as his company started backing the risky loans themselves...

Fannie and Freddie knew this was coming, but Barney Frank blocked and attempt to reign in the risky loans...

People re-financed, and re-financed, taking "cash" out of the new found equity, and when the bill came due, they walked away...

[Tim C.]

the situation is different, yes, but I don't recall people in 2004 getting $100K over their asking price. that's what's happening around the Tampa area, just for one. The confluence of inflation, likely rising interest rates, and the bloated prices in homes right now will result in a similar housing meltdown within the next 12 months. it's what I think. if you're going to sell, sell now. Don't wait. it's what our financial advisor told us (and yes, he sold, is living in a friend's condo and expects to buy back in next year when prices fall). I've read this in other places. I tend to believe it. We at this point own two houses - one in TV, one in Tampa. Our house in Tampa goes on the market saturday

[petsetc]

Can you show me the evidence that they are "withholding inventory"?

Seriously, I'm very interested in your source for this information...

I can only offer our experience. In Feb, 2015 when we signed our contract in Dunedin, the entire section we were in was built out empty. None of the houses were pre-sold until our area was completely done. Additionally, one of the houses across the street from me was not put offered for sale until a year later.

The Villages has used various "release for sale" strategies during my 6 years of ownership. They release or withhold in such a manner as to maintain their desired flow/mix. It's there plan to understand.

Just Sayin'

[Bill14564]

And actual proof that is happening?

It would be difficult to find proof either way. It was not my intention to claim any unique or absolute knowledge, only to propose a third possibility.

"The Developer" is clearly a clever businessperson who would want to maximize his profit. Knowing/believing that there will be no end to demand in the Villages and seeing a nationwide increase in price due to a shortage of inventory it would make sense to keep the supply tight here as well. On the other hand, shortages in materials and labor and a high demand would also limit the number of homes that could be built while burning through any available inventory.

[Jayhawk]

Don't wait. it's what our financial advisor told us (and yes, he sold, is living in a friend's condo and expects to buy back in next year when prices fall). I've read this in other places. I tend to believe it.

If Financial Advisors knew anything, they wouldn't be working for companies giving people advice for a fee. They would keep the secrets for themselves and get stinky rich. And one who couch surfs at a friend's condo and claims to know prices will fall next year is completely full of crap.

[Normal]

Financial Advisors aren’t necessarily experts in real estate. I looked on the Villages website today and many average homes are in the 600 and 700s. That may seem high, but people still need houses and they just don’t have enough of them. This is probably more the time to build (good luck finding a lot). As far as cheaper or costs going down, ya, if you want a manufactured home in the Northeastern section there are deals to be had. Homefinder - The Villages(R) Homes and Villas for Sale (https://www.thevillages.com/homefinder/L10.1986?new&preowned&homesites&status&map&lng=-81.95007850824716&lat=28.93460591657062&lvl=3)
If you are looking at anything South off 466A, forget it. It just won’t ever happen unless you want 8K a year in taxes, an annual bond of 2300 and you are willing to plop down that 700k.

The true sweet spot if you are a buyer may be between Sumter and 466A?

[Tim C.]

If Financial Advisors knew anything, they wouldn't be working for companies giving people advice for a fee. They would keep the secrets for themselves and get stinky rich. And one who couch surfs at a friend's condo and claims to know prices will fall next year is completely full of crap.

well he is his own company, and he is probably pretty wealthy and he DID take his own advice. as I noted in my post, he sold his house a couple of months ago, is renting a condo while waiting for the market to cool down and then will buy back in. so clearly he is taking his own advice. investments? He tailors the investments for what each of his clients need or want, and according to their own goals. I know he invests his own money as well. so what's the beef?

and he doesn't charge me by the hour. he's done real well for me the last 10 years. Well worth the money

[MrFlorida]

No inventory = no sales. Looks like people are staying put.

[BlueStarAirlines]

Noticed there are anywhere from 3-5 homes that are dropping prices each week. I still think they are overpriced, but at least the owners are realizing it too. I have to give it to the first house though, they shot for the moon-missed-and are being a little more realistic (still pretty high). Here are two from just yesterday:

Reduced $106k- 17657 SE 88th Covington Cir, THE VILLAGES, FL 32162 | MLS# G5043146 | Redfin (https://www.redfin.com/FL/The-Villages/17657-SE-88th-Covington-Cir-32162/home/140139238)

Reduced $10k- 7199 SE 173rd Arlington Loop, The Villages, FL 32162 | MLS #G5042997 | Zillow (https://www.zillow.com/homes/for_sale/61454005_zpid/)

[Babubhat]

Warning to the Real-Estate Cartel. WSJ
The Justice Department will take a new look at those outrageous brokers fees

About time

[Normal]

There is an Ottawa in St. Catherine for a steal! Just under 550 K

/s/

[thelegges]

Noticed there are anywhere from 3-5 homes that are dropping prices each week. I still think they are overpriced, but at least the owners are realizing it too. I have to give it to the first house though, they shot for the moon-missed-and are being a little more realistic (still pretty high). Here are two from just yesterday:

Reduced $106k- 17657 SE 88th Covington Cir, THE VILLAGES, FL 32162 | MLS# G5043146 | Redfin (https://www.redfin.com/FL/The-Villages/17657-SE-88th-Covington-Cir-32162/home/140139238)

Reduced $10k- 7199 SE 173rd Arlington Loop, The Villages, FL 32162 | MLS #G5042997 | Zillow (https://www.zillow.com/homes/for_sale/61454005_zpid/)

Looked at the first house. It’s nice we were the 15 appointment, no takers, so notified of reduced asking. I am guessing some want to sell for next house. Asking for the moon, and when it doesn’t happen, prices come to a more realistic asking.

[Babubhat]

Nice houses but at that price I would want new and not 20 years old. Doesn’t say if it needs a new roof air conditioning and all the other maintenance items that Add up

[Timothyimitchell]

10 new houses available. Slim pickens

[FromDC]

10 new houses available. Slim pickens I just looked and agree with you......ONLY 10 NEW HOMES FOR SALE in The Villages?? Will someone ask a sales person ...is this a land rush? ....Do they have a shortage of building supplies? ...Why such a limited of supply of homes/villas? They are pushing dirt on both sides of turnpike and there are so many workers south of 44. Only 10??

[thelegges]

I just looked and agree with you......ONLY 10 NEW HOMES FOR SALE in The Villages?? Will someone ask a sales person ...is this a land rush? ....Do they have a shortage of building supplies? ...Why such a limited of supply of homes/villas? They are pushing dirt on both sides of turnpike and there are so many workers south of 44. Only 10??

Our friends bought in St Catherine May 3, closing isn’t until July 22. Range, garage doors openers, floor molding 2 closet doors are still missing as of last week. There are many homes the outside is complete, but interior still has detail work to be finished.

As we drove in the area of their home, there might be 100 plus homes, some have names and sold in the window, but interior has a ways to go. You see very few workers, and trucks in the area. So might just be lack of supplies. Not sure of state of Florida on what house must have for closing on a loan.

For those who have lived here awhile, when was the last time you didn’t see a home close in 30 DAYS, on a new build.

[Dr Winston O Boogie jr]

Together the buyer and the seller set the final price.


Actually, it's the seller that determines the final price. The buyer may make all of the offers that he or she wants but it's up to the seller to accept one of them. If the seller doesn't want to sell, there's nothing the buyer can do about it.

[raynan]

We're not seeing a slow-down in Pennecamp. In our neighborhood houses are selling in hours and at astronomical prices. The latest one was 2 weeks ago.

[Dr Winston O Boogie jr]

I just looked and agree with you......ONLY 10 NEW HOMES FOR SALE in The Villages?? Will someone ask a sales person ...is this a land rush? ....Do they have a shortage of building supplies? ...Why such a limited of supply of homes/villas? They are pushing dirt on both sides of turnpike and there are so many workers south of 44. Only 10??

We have been watching new home sales south of 44. The Villages usually releases 25-30 homes for sale at a time. Usually, there are three to four left within a day or two. Houses are selling faster than they can build them. I don't see the market slowing down at all.

[Bill14564]

Actually, it's the seller that determines the final price. The buyer may make all of the offers that he or she wants but it's up to the seller to accept one of them. If the seller doesn't want to sell, there's nothing the buyer can do about it.

Are you implying that if the buyer doesn't want to buy there is still nothing the buyer can do about it and the seller can force the buyer to make a purchase he doesn't want to make? It seems like the buyer actually has some say in this too. The seller can ask for whatever he or she wants but it's up to the buyer to accept the price. Together, the buyer and the seller determine the price.

Yes, when buyers outnumber sellers then the sellers can pick and choose among buyers and can get more for the home they are trying to sell. But the scales are not always tipped that way and sometimes there are more sellers than buyers.

[Babubhat]

Realty Executives on YouTube give weekly summaries of listings and sales. No need to guess at the numbers

[ithos]

Realty Executives on YouTube give weekly summaries of listings and sales. No need to guess at the numbers

Good summary. Can't tell what the houses are selling for on the The Villages website since they sell before they are posted. They show lots of pending but no price. I am curious what the typical PV goes for in Brownwood with standard features.

[Robnlaura]

Can you show me the evidence that they are "withholding inventory"?

Seriously, I'm very interested in your source for this information...

Well simply I asked what about all those homes I just drove past .. “ we not releasing those yet was the answer !” Take a drive and look for yourself.. not rocket science

[vintageogauge]

Well simply I asked what about all those homes I just drove past .. “ we not releasing those yet was the answer !” Take a drive and look for yourself.. not rocket science

They have always released new builds in blocks once they are ready to be sold, at least in recent years. Those that you drove past and were told they are not released yet are most likely not quite ready.

[Normal]

They have an Aspen 1916 square feet for a steal of a price today at 638,906.

Homefinder - The Villages(R) Homes and Villas for Sale (https://www.thevillages.com/homefinder/S58V.77?new&preowned&homesites&lng=-81.95618831040929&lat=28.784400833919996&lvl=9)

What part of “cooling off” does that fall under?

[Normal]

They have an Aspen 1916 square feet for a steal of a price today at 638,906.

Homefinder - The Villages(R) Homes and Villas for Sale (https://www.thevillages.com/homefinder/S58V.77?new&preowned&homesites&lng=-81.95618831040929&lat=28.784400833919996&lvl=9)

What part of “cooling off” does that fall under?

[JMintzer]

They have always released new builds in blocks once they are ready to be sold, at least in recent years. Those that you drove past and were told they are not released yet are most likely not quite ready.

Yes. The simplest answer is usually the correct answer...

[JMintzer]

They have an Aspen 1916 square feet for a steal of a price today at 638,906.

Homefinder - The Villages(R) Homes and Villas for Sale (https://www.thevillages.com/homefinder/S58V.77?new&preowned&homesites&lng=-81.95618831040929&lat=28.784400833919996&lvl=9)

What part of “cooling off” does that fall under?

Well, it does have a "view lot", "room for a pool", and a "three car garage", so there's that...


Signed,


Fellow Aspen owner

[Tripngirl]

Have to agree. Some homes don’t make it to the general public. We bought in McClure a resale Village property. Agent called and said I got this listing can u see tonight? After watching online and seeing either sold or pending we went and made offer—— honestly in this market you need more than one agent helping you.

[Normal]

Well, it does have a "view lot", "room for a pool", and a "three car garage", so there's that...


Signed,


Fellow Aspen owner

The Aspen, is a beautiful home, one of my favorites! My point is, houses aren’t going down in price. And… I just looked at the link….PENDING
The market hasn’t cooled down. The home is selling/sold for 333.50 a square foot! What could that lot possibly be worth? On the high side 150K

[Timothyimitchell]

I like the Aspen, we almost got one. My point is, houses aren’t going down in price. And another point, I just looked at the link….PENDING
The market hasn’t cooled down.

BUT,take a look at MLS and TV websites. Some of these homes they are just throwing a price on them hoping it sticks. Some are let's say not desirable, some are let's just call them over priced. Let's see what happens.

[kathyspear]

The home is selling/sold for 333.50 a square foot! What could that lot possibly be worth? On the high side 150K

Someone posted here a while back that water view/preserve lots were going for upwards of $250k "down south" so I am not surprised at that home's price at all.

kathy

[JMintzer]

The Aspen, is a beautiful home, one of my favorites! My point is, houses aren’t going down in price. And… I just looked at the link….PENDING
The market hasn’t cooled down. The home is selling/sold for 333.50 a square foot! What could that lot possibly be worth? On the high side 150K

Oh, I agree... I guess my sarcasm level was set too low... :icon_wink:

[ithos]

You will know when the market has cooled down when patio villas in Brownwood start showing up on The Villages for sale website.

[Robnlaura]

The good news is new housing starts are up 6%, higher in some areas. And paying 180k for a view of a retention pond is nuts. Wood futures have dropped significantly. There is always a finite amount of people on the move. Plus the expansion of the villages alone tells you there will always be a home for sale .. the 4 million homes in foreclosure nationally will have some impact but then again there are major corporations ready to snap those up

[RICH1]

Cheap living at 2.6 % interest! The Riff-RAFF is moving in... The Villages has become a low income housing development while The Del Web communities have raised the bar ..

[JMintzer]

Cheap living at 2.6 % interest! The Riff-RAFF is moving in... The Villages has become a low income housing development while The Del Web communities have raised the bar ..

Somebody must not be checking the recent sale prices...

[vintageogauge]

Cheap living at 2.6 % interest! The Riff-RAFF is moving in... The Villages has become a low income housing development while The Del Web communities have raised the bar ..

Low interest but higher purchase price equals higher payments. With nothing new available for under $200,000 and that is a very small villa with a car port and those with garages now in the mid 200's I would hardly call this a low income housing development. I believe the last announced average selling price here was in the mid 300's and many designers now nearing the $1,000,000 mark.

[JRP2TV]

Fewer sales in general right now is due to fewer homes available. It has nothing to do with people not wanting to buy.

Any good home that hits the market will get multiple offers which drives up the price. The buyers make that happen, not the seller.

I don't think it would be wise for the seller to accept the lowest offer. Why would they want to do that?

[Normal]

Cheap living at 2.6 % interest! The Riff-RAFF is moving in... The Villages has become a low income housing development while The Del Web communities have raised the bar ..

Wow, disregard the use of the linking verb “is” which should be “are”. It would be a blessing if some weren’t judging others. I like to embrace all, but your statement proves to me there are some out there who still are quite prejudice with dollars as a persons value. It’s quite sad.

2.6 is a great rate and should be taken advantage of. Why pay cash or draw funds from your Edward Jones that pays 6-8 percent all the while you keep your capital?

Delweb is cheaper for sure. Maybe you could live there with those that have gone the cheap route? Just watch out for that scary group called…”Riff-Raff.”

[dewilson58]

The Riff-RAFF is moving in...

They is here already............They was hear for years.............They post in ToTV.

[manaboutown]

Cheap living at 2.6 % interest! The Riff-RAFF is moving in... The Villages has become a low income housing development while The Del Web communities have raised the bar ..

Today I saw 1.75%, no fees, on a 15 year fixed rate loan and am following up on it.

[JMintzer]

Riff Raff...

https://carboncostume.com/wordpress/wp-content/uploads/2020/04/Riff-Raff-from-Rocky-Horror-Picture-Show.jpg

[bhancock]

Today I saw 1.75%, no fees, on a 15 year fixed rate loan and am following up on it.

The best way to buy a home if you are 62 or older is the H4P. You never have a mortgage payment, and you get to keep cash in your bank. PLUS, you can buy the home you really wanted, not the one you thought you could afford! It's just not very popular because most RE agents don't understand it.

[Timothyimitchell]

Indeed, both MLS and TV websites are showing slow yet steady increases in inventory. At some point the recent pricing limited demand. Looks like that point is now. But they could throw 100 patio villas at 260K and they'll sell like COCA COLA

[Timothyimitchell]

116 TV Website
89 zillow
Last week 60 and 69 respectively.
Inventory higher. Price too high. Demand will slow.

[Robnlaura]

According to a new report released by Florida Atlantic University’s College of Business, buyers in Jacksonville are paying 23% more money than they should be for homes. Homes in Tampa are overpriced by 32%, Orlando by 21% and Miami homes and 16.9% overvalued. One real estate economist is urging Floridians to rent because homeownership is too expensive right now.
Low inventory, low interest rates and historically high demand for homes have created a housing market that hasn’t been this overpriced since the leadup to the 2008 economic crisis.

[Robnlaura]

Sales of new homes slump to the lowest level since start of pandemic. High costs and low selection are to blame - MarketWatch (https://on.mktw.net/2Wrif8F)

[asianthree]

Four homes we looked at went pending, in a few days. $825,000 and up. Just received a email from MLS three are back on the market. I have no interest in them so didn’t ask why the return list

[dewilson58]

Sales of new homes slump to the lowest level since start of pandemic. High costs and low selection are to blame - MarketWatch

Not because it's cooling, there is limited inventory. Hot, Hot, Hot.

[Velvet]

Well if Zillow or Trulia or Realtor are any indicators, looking at my house, the value they estimate seems to go up every 3 days or so, including today.

[Timothyimitchell]

Not because it's cooling, there is limited inventory. Hot, Hot, Hot.

Limited inventory hurts. Lack of villas... Look at the pricing. Top of the chart. Throw a price on it see if it sticks. You will see decreases on homes over 350K. Watch.

[dewilson58]

Limited inventory hurts. Lack of villas... Look at the pricing. Top of the chart. Throw a price on it see if it sticks. You will see decreases on homes over 350K. Watch.

:what:

[Beyond The Wall]

Sellers don’t set the market, buyers do. Also the TV new construction acts as a price control.

[vintageogauge]

Sellers don’t set the market, buyers do. Also the TV new construction acts as a price control.

That new home price control only helps those in front of the line.

[Orvil]

New home market prices have no relation to resale prices. They are two different markets. They are not comparable. Any correlation is coincidental.

Resales are subject to depreciation. Resales in The Villages are also subject to seasonality. You are starting to see some reduction in pricing on individual resale units. This simply reflects overpricing on the part of the seller. Probably due to condition or locational factors.

One element that I do see as a drag on individual units is the presence of wall paper. Buyers see it as trouble, effort and cost. Most don't want to buy a renovation project. Flippers aren't going to chase prices.

I also see resales with older roofs as an issue. Sellers can't expect top price with an old roof. In this market, an old roof is defined as anything over 8 years. Insurance coverage is driving this issue.

Every sale is subject to supply and demand. Both new construction and existing homes are affected by the supply and demand market force. But, the two markets are separate. Currently, both markets are out of balance. There are more buyers than sellers in both markets. They will balance at some point.

[Babubhat]

The ratio of US new to existing home prices is below one. This trend doesn’t bode well for existing-home price appreciation.

Source:
@MizuhoAmericas

[Bilyclub]

If this thread sticks around for a year or two it might be true.

[Normal]

Sales of new homes slump to the lowest level since start of pandemic. High costs and low selection are to blame - MarketWatch (https://on.mktw.net/2Wrif8F)

Prices have increased in the past month to crazy numbers in the Villages.

Homefinder - The Villages(R) Homes and Villas for Sale (https://www.thevillages.com/homefinder/?new&preowned&homesites&map&lng=-81.95691573217803&lat=28.78632377637008&lvl=9)

Water views are 600s and 700s
Power wire views are averaging the 500s

Ya, there is little cooling down during the summer in TV

[Timothyimitchell]

Prices have increased in the past month to crazy numbers in the Villages.

Homefinder - The Villages(R) Homes and Villas for Sale (https://www.thevillages.com/homefinder/?new&preowned&homesites&map&lng=-81.95691573217803&lat=28.78632377637008&lvl=9)

Water views are 600s and 700s
Power wire views are averaging the 500s

Ya, there is little cooling down during the summer in TV

BINGO.
Big mistake on everyone's part.

[Timothyimitchell]

If this thread sticks around for a year or two it might be true.

Wrong. Fair prices will sell houses. MAJORITY are not fair. Keep watching.

[Timothyimitchell]

Sales of new homes slump to the lowest level since start of pandemic. High costs and low selection are to blame - MarketWatch (https://on.mktw.net/2Wrif8F)

Zillow 84
TV 136

Keep watching.

[Bilyclub]

Wrong. Fair prices will sell houses. MAJORITY are not fair. Keep watching.

The title of this thread says the market has cooled down. It has not.

[dewilson58]

The title of this thread says the market has cooled down. It has not.

:bigbow:

[Timothyimitchell]

:bigbow:

Depends what you're searching for. If you're looking for pricing under 300,000 MOST not ALL sell quickly I would disagree 100% on homes 400 plus. I have been watching closely. I think sellers including the developer have reached the ceiling on price. That's a nice way of,putting it.

[CoachKandSportsguy]

LOL!
volume or prices cooling off. . . . ?
new or used or both cooling off. . . ?
florida or the villages cooling off . . . ?
north east versus southeast cooling off. . . ?
Conventional or Jumbo mortgage priced houses?

There are alot of slices to find to generalize about the "housing market".

FYI, rent increase in FL will be significantly higher at some renters next renewals. . . some landlords already looking at 20% year over year. .

finance guy

[HRDave]

Riff Raff...

https://carboncostume.com/wordpress/wp-content/uploads/2020/04/Riff-Raff-from-Rocky-Horror-Picture-Show.jpg

It's astounding
Time is fleeting
Madness takes its toll .
😎

[Normal]

I think those prices are here to stay. Prices may level off, but cooling down isn’t a term we can use right now. Prices have gone up weekly. Renters are starting to pay more, and people are paying more for houses. How many buyers do you think are willing to go it for a loss?

Lumber prices and demand moved the needle this time, not investments etc. I actually don’t even think there is a bubble. I think there is a lack of inventory and a high demand instead. WallStreet won’t have a crash because of prices this time. If anything, look for inflation instead.

[Babubhat]

Beaumont development off 466a CUT new home prices

[Normal]

Beaumont development off 466a CUT new home prices

Is that for the “double wides” or the newer 2 story structures?

[Robnlaura]

On lumber Are Crashing Lumber Prices Good or Bad News for Home Depot and Lowe's? Mmm

[Robnlaura]

I think again the moratorium on renters and foreclosures ending this weekend could be a turning point. Inflation and gas prices are a major factor. Never seen shortages in our stores like today. Cat food for example .. cat food wow delta could really do a number who knows. Looking at Zillow values on village homes a lot are showing $80 over valued.. for us definitely not a time to buy but we will wait.. time is not out enemy

[Normal]

With so many jobs available, it is high time someone said stop the handouts; that said, there will be changes.

More rental units will be available for “qualified” renters. This will ease pressure on the renting market and in turn ease the pressure of home buyers to find their dream home.

But, this will also cause damage to most or all of the evicted families! Few to none will rent to those who were irresponsible for their payments. If an applicant has their last w2 statement as “unemployment “ for income, they are toasted and well done.

[Timothyimitchell]

Beaumont development off 466a CUT new home prices

TV website is showing 159 homes for sale. 10 of which are under $300,000. Bad mix. There WILL be price cuts in TV .

[Laker14]

This does not seem like a lot of inventory to me. BTW, that 285K Amarillo, seen on the map in Duval, was listed on the 29th, and according to today's description has received "multiple offers"...2 days....

This is from Trulia

[Velvet]

One strategy of selling a house is to list it low enough to get multiple offers bidding against each other. My neighbor up north took a different position. He listed his house at the price he wanted for it and did not sell until he got that offer. It took him a couple of years but he was in no hurry and he needed the money for his final living retirement expenses.

As a buyer, on the other hand, I determine how much a house is worth to me and that is what I will pay. Then the seller can decide if it is enough for them to sell. I always have alternatives if my offer is not accepted.

[Laker14]

One strategy of selling a house is to list it low enough to get multiple offers bidding against each other. My neighbor up north took a different position. He listed his house at the price he wanted for it and did not sell until he got that offer. It took him a couple of years but he was in no hurry and he needed the money for his final living retirement expenses.

As a buyer, on the other hand, I determine how much a house is worth to me and that is what I will pay. Then the seller can decide if it is enough for them to sell. I always have alternatives if my offer is not accepted.

absolutely. I saw that listing yesterday at something like $188/square foot, and it was in good shape. New owners will likely want to put their own touches in, but right now, unless the place is a dump, a listing at less than $200/square foot in TV is almost certainly going to get multiple offers.

[vintageogauge]

Beaumont development off 466a CUT new home prices

They don't have the family buyer pool that TV has with retirees so it's meaningless. There are lots of family home developments and apartments going up now so that market will be competitive.