Homes selling like hot cakes

[mrrmauu]

We have been coming down since 2016 and plan on retiring, buying and living full time in the very near future. I see that most or all homes appear to sell within hours of listing and the prices have skyrocketed with no end in sight. Who is buying all these properties??? Are these new retirees, are they snowbirds, or are they speculators looking to make a buck renting them out? Is this all a bubble or will this continue into 2022? A brand new home we looked at in 2017 was listed for $270,000 - that same exact home today is around $400,000. They used to discount some of the homes when they advertised them on WVLG, no more. Most homes they advertise are $500,000+. My home has also appreciated but not at TV rate.

[Laker14]

We have been coming down since 2016 and plan on retiring, buying and living full time in the very near future. I see that most or all homes appear to sell within hours of listing and the prices have skyrocketed with no end in sight. Who is buying all these properties??? Are these new retirees, are they snowbirds, or are they speculators looking to make a buck renting them out? Is this all a bubble or will this continue into 2022? A brand new home we looked at in 2017 was listed for $270,000 - that same exact home today is around $400,000. They used to discount some of the homes when they advertised them on WVLG, no more. Most homes they advertise are $500,000+. My home has also appreciated but not at TV rate.

My gut tells me that the recent rate of appreciation of homes in TV is not sustainable. My gut has been wrong many times.
When the housing market bubble burst in 2007-2008, I had been watching the market in TV for a couple of years. There was a brief downward movement, but nothing like what was happening in other parts of Florida, or other parts of the USA.
We all like to feel as if we bought at the bottom, the perfect time.

I guess the real questions for you is "can I still afford TV at the current prices?"
"Do I want to?"
"What if I buy and the market drops?" (if you aren't planning on selling in the near future, does this matter?)
"What if I don't buy and the market continues to rise, even if it is at a more reasonable rate?"

You will never have the chance again to buy in 2016, or 2017. Agonizing over that won't help you.
As has been suggested in other similarly themed threads, you could still buy in TV, but maybe not the home you dreamed of, or the neighborhood you originally desired. There are many different price points in TV.

[Timothyimitchell]

Low interest rates and lifestyle. 2 powerful things that will keep driving sales in TV. We are in a bubble but TV will not suffer as the rest of the country will when the bubble pops. And it will pop.

[Becca9800]

We have been coming down since 2016 and plan on retiring, buying and living full time in the very near future. I see that most or all homes appear to sell within hours of listing and the prices have skyrocketed with no end in sight. Who is buying all these properties??? Are these new retirees, are they snowbirds, or are they speculators looking to make a buck renting them out? Is this all a bubble or will this continue into 2022? A brand new home we looked at in 2017 was listed for $270,000 - that same exact home today is around $400,000. They used to discount some of the homes when they advertised them on WVLG, no more. Most homes they advertise are $500,000+. My home has also appreciated but not at TV rate.

I watched this run on TV homes begin around Spring 2020. I'd been seriously looking for a home for at least 1.5 years when I noticed they were beginning to sell faster and faster. Around July, selling so fast that there was no opportunity to book a flight and get there before the property went into pending sale status. The prices weren't rising quickly though. One came up, exactly what we had been looking for. We bought wo seeing the property in-person. Our realtor took us on a facetime tour 1 hour after the listing hit the market, and we had an accepted offer within 3 hours. So stinking risky but there was no other way. I don't know when the pricing began to increase like it has but it's insane. A villa just like ours, with no extras, in a very nearby Village, was new on the market just a few days ago for $89k more than we paid in 9/2020. Unbelievable.

[TNLAKEPANDA]

I don’t see the prices coming down any but I doubt they will increase at this pace. Great time to sell if you are moving out of the Villages!

[Toymeister]

TV is unique in that the price of all homes is set by new construction. In other markets new construction doesn't exist or is just an influencer.

It makes complete sense that home prices have risen lock step with construction costs. Throw on some pent demand, political uncertainty, and low interest rates and here we are. Speculation is not a large factor as new homes can't be sold for more than paid plus improvements for a profit in less than 12 months of home ownership.

[davem4616]

I overheard a guy the other night down at Brownwood say that the biggest factor driving the prices upward in TV and homes selling so quickly now is that Costco has applied for a building permit in Wildwood

[John41]

We have been coming down since 2016 and plan on retiring, buying and living full time in the very near future. I see that most or all homes appear to sell within hours of listing and the prices have skyrocketed with no end in sight. Who is buying all these properties??? Are these new retirees, are they snowbirds, or are they speculators looking to make a buck renting them out? Is this all a bubble or will this continue into 2022? A brand new home we looked at in 2017 was listed for $270,000 - that same exact home today is around $400,000. They used to discount some of the homes when they advertised them on WVLG, no more. Most homes they advertise are $500,000+. My home has also appreciated but not at TV rate.

Resales North of 44 are still affordable in many cases.

[Papa_lecki]

1) The real estate market is HOT in most parts of the country - in the northeast, anything under $1.5 million is under contract in a month.
2) Since COVID, people/companies realized the workforce can work from home - home can be anywhere, including Florida.

There are a lot of people still in the workforce, between 48 and 60, who are selling their primary home, relocating to FLA (some in the VIllages) and maybe renting a small apartment in their home town.
And still walking away with money in their pocket.

[MrFlorida]

It's not just here, the market is hot all over the country. Low interest rates, and high cost of building materials are driving the prices up.

[Blueblaze]

It's not just here, the market is hot all over the country. Low interest rates, and high cost of building materials are driving the prices up.

We came here last Jan. and spent a week looking at homes. We bought one and then went home and put our Texas house up for sale. It sold in 3 days in a bidding war at $10,000 over asking price -- and my asking price was $50K over the price I was asking the previous year when I gave up and took it off the market. I got enough on my Texas house to buy TWO houses in TV.

So it's not just TV.

Nobody will confirm it, but my theory is that millions of Boomers like me, with a lifetime of savings to lose, looked at 6 trillion in new deficit spending over that past two years and did the math on what another Carter inflation would do to their retirement plans.

They probably realized that storing several hundred thousand dollars worth of gold in their safe wasn't a great plan, and then noticed that mortgage rates were lower than their grandparents ever saw in their lifetimes. The only thing that holds its value long term through an inflation better than gold is real estate -- at least, assuming the country inflating the money survives the experience. And a safe full of gold isn't going to do you much good, either, if it doesn't.

Personally, I thought long and hard about putting my money into a prepper escape plan for my whole family. My kids thought I was nuts. Oh, well. I guess it's their world, now, and if they aren't worried, why should I be?

So we bought our little bit of heaven in this disneyworld-for-old-folks, where we plan to spend our last few years living it up, regardless of what happens. I bet a lot of people came to the same conclusion.

Whatever the true reason for this bubble is, I doubt that it will end any better than the last one.

[Stu from NYC]

I overheard a guy the other night down at Brownwood say that the biggest factor driving the prices upward in TV and homes selling so quickly now is that Costco has applied for a building permit in Wildwood

I heard it was due to a new Hooters coming here

[dewilson58]

I heard it was due to a new Hooters coming here

Hot Cakes.

[Laker14]

We came here last Jan. and spent a week looking at homes. We bought one and then went home and put our Texas house up for sale. It sold in 3 days in a bidding war at $10,000 over asking price -- and my asking price was $50K over the price I was asking the previous year when I gave up and took it off the market. I got enough on my Texas house to buy TWO houses in TV.

So it's not just TV.

Nobody will confirm it, but my theory is that millions of Boomers like me, with a lifetime of savings to lose, looked at 6 trillion in new deficit spending over that past two years and did the math on what another Carter inflation would do to their retirement plans.

They probably realized that storing several hundred thousand dollars worth of gold in their safe wasn't a great plan, and then noticed that mortgage rates were lower than their grandparents ever saw in their lifetimes. The only thing that holds its value long term through an inflation better than gold is real estate -- at least, assuming the country inflating the money survives the experience. And a safe full of gold isn't going to do you much good, either, if it doesn't.

Personally, I thought long and hard about putting my money into a prepper escape plan for my whole family. My kids thought I was nuts. Oh, well. I guess it's their world, now, and if they aren't worried, why should I be?

So we bought our little bit of heaven in this disneyworld-for-old-folks, where we plan to spend our last few years living it up, regardless of what happens. I bet a lot of people came to the same conclusion.

Whatever the true reason for this bubble is, I doubt that it will end any better than the last one.

My thinking was similar, to the extent that I figured with the stock market values as high as they are (talk about bubbles), and savings returns as low as they are, a home in TV would likely do as well, if not better, than either of those other two options, over the next decade and a half, which is likely the most optimistic time frame for DW and I to be actively living the Villages lifestyle.

[VApeople]

I overheard a guy the other night down at Brownwood say that the biggest factor driving the prices upward in TV and homes selling so quickly now is that Costco has applied for a building permit in Wildwood

Really?? That is great news!!!

I'll ask my barber when they are going to start building.

[Garywt]

I had not looked for awhile but 95% of the Villas online are sale pending so they are going fast. There were a few for sales in the low $200’s but those use to be about $180. I know where we live in Mass, people are offering $50-100K over asking price to buy and some are being out bid. People put their house on the market Friday, have an open house weekend with bids due Monday and it is sold. The slowdown now is instead of 20-30 bids people are only seeing 10-15 bids.

[patfla06]

I overheard a guy the other night down at Brownwood say that the biggest factor driving the prices upward in TV and homes selling so quickly now is that Costco has applied for a building permit in Wildwood

///

[manaboutown]

Many Baby Boomers are taking early retirement and fleeing poorly run, crime ridden, high tax, expensive big cities. Some may be able to and wish to work remotely full or part time. The Villages is a prime destination for them.

[Laker14]

I don't really see why anyone would want to live in a place where you can drive a golf cart to your choice of a dozen different swimming pools, Pickleball courts, golf courses, or have to endure free music outdoors every night from a choice of three different locations.
Not to mention being surrounded by well kept houses, and yards and gardens that make you think you live in a park. What with neighbors constantly stopping to visit you as you walk down your driveway, and inviting you to play cards all the time, what is one to do?
And the weather from October to May....my cross country skis have hardly been used.

I don't see this Villages thing lasting.

[Becca9800]

I don't really see why anyone would want to live in a place where you can drive a golf cart to your choice of a dozen different swimming pools, Pickleball courts, golf courses, or have to endure free music outdoors every night from a choice of three different locations.
Not to mention being surrounded by well kept houses, and yards and gardens that make you think you live in a park. What with neighbors constantly stopping to visit you as you walk down your driveway, and inviting you to play cards all the time, what is one to do?
And the weather from October to May....my cross country skis have hardly been used.

I don't see this Villages thing lasting.

You should really be a TV Ambassador, so well spoken!

[Woodbear]

Many Baby Boomers are taking early retirement and fleeing poorly run, crime ridden, high tax, expensive big cities. Some may be able to and wish to work remotely full or part time. The Villages is a prime destination for them.

This speaks to my situation for the most part. I will continue to work, but thank goodness I can be remote. I hope my boss/customers do not bother me much while I am golfing mid-week.

Truthfully we did not know much about The Villages till our daughter took a job nearby. Our visit in May convinced the Mrs that TV is the place she wants to call home.

Given the current build schedule we will not be in TV till 2022. Our family is so excited to put NY in the rear view mirror.

[Calisport]

I just bought a home in May. I see the same type of home in a less desirable toll road close lot is selling for $26,000 more 1 month later.

[Garywt]

I don't really see why anyone would want to live in a place where you can drive a golf cart to your choice of a dozen different swimming pools, Pickleball courts, golf courses, or have to endure free music outdoors every night from a choice of three different locations.
Not to mention being surrounded by well kept houses, and yards and gardens that make you think you live in a park. What with neighbors constantly stopping to visit you as you walk down your driveway, and inviting you to play cards all the time, what is one to do?
And the weather from October to May....my cross country skis have hardly been used.

I don't see this Villages thing lasting.

More like 8 dozen swimming pools. But the rest of it…

[Rwirish]

No end in site. Prices continue to skyrocket.

[Comptoncb]

He is right! The bubble won’t burst in TV. I retired in Dec, 2020 and bought in TV in feb. didn’t settle until May and house went up over 100k in value.

[J1ceasar]

My father bought his first home in the '60s for 36,000. I sure wish he had bought one for each of his children at the same time. The reality is prices go up and prices go down and you can't time the market exactly what they say about the stocks. My guess is that in the next one to five years we'll see a correction of 20 to 30%.. but however if you have bought tomorrow you will have lived here for 5 years and enjoyed your life here. I want to tell you very simply that there are plenty of other communities besides the villages that are very nice. If you look at a map of Leesburg, you will find at least four with real homes that have been built out of masonry and plaster. Pennbrooke Fairways. There are homes in here if you can find them right now from $150 to 275,000, 1200 units two golf courses two pools. There is Arlington ridge down the road on 27 also about 1,200 homes same price range. There is the plantation on route 27 right off the turnpike on the other side of Leesburg which is 20 minutes closer to the airport which has homes from $200 to 400,000 and is a much larger community of 3,000 homes. There were at least two others on either side of the plantation as well. Remember most of the facilities like the town squares are open to anybody, the movies the shopping it's all available the only thing you can't do is play for free at The villages if you don't live here for golf. There are plenty of other beautiful communities with thousands of very nice people living beautiful lives much cheaper. Not only that but you can live in a beautiful double wide or single for under $50,000 in several other communities with pools and golf courses. Again if you have the money don't worry about it. If you don't have the money there are plenty of other places to enjoy your retirement

[Tjjohnsonnotaryservices]

There is a fantastic 6 bedroom 5 bathroom home, new roof, new water heater, freshly painted, new appliances in Fruitland Park, Fl , golf cart community- The Glen.
Cost $429,500. 34731 Real Estate - 34731 Homes For Sale | Zillow (https://www.zillow.com/homes/34731_rb/)

[Mac1996]

Guess what, I call this inflation don’t forget what will happen next taxes will go up up up!

[Laker14]

My father bought his first home in the '60s for 36,000. I sure wish he had bought one for each of his children at the same time. The reality is prices go up and prices go down and you can't time the market exactly what they say about the stocks. My guess is that in the next one to five years we'll see a correction of 20 to 30%.. but however if you have bought tomorrow you will have lived here for 5 years and enjoyed your life here. I want to tell you very simply that there are plenty of other communities besides the villages that are very nice. If you look at a map of Leesburg, you will find at least four with real homes that have been built out of masonry and plaster. Pennbrooke Fairways. There are homes in here if you can find them right now from $150 to 275,000, 1200 units two golf courses two pools. There is Arlington ridge down the road on 27 also about 1,200 homes same price range. There is the plantation on route 27 right off the turnpike on the other side of Leesburg which is 20 minutes closer to the airport which has homes from $200 to 400,000 and is a much larger community of 3,000 homes. There were at least two others on either side of the plantation as well. Remember most of the facilities like the town squares are open to anybody, the movies the shopping it's all available the only thing you can't do is play for free at The villages if you don't live here for golf. There are plenty of other beautiful communities with thousands of very nice people living beautiful lives much cheaper. Not only that but you can live in a beautiful double wide or single for under $50,000 in several other communities with pools and golf courses. Again if you have the money don't worry about it. If you don't have the money there are plenty of other places to enjoy your retirement

I remember watching my dad pay bills and he had this coupon book for the house mortgage. Like your dad's, bought in the early 60s, around 36,000, and I asked him about the coupon book. I was 6 or 7 years old. He told me that by the time he paid off all of those coupons, I'd be a dad, with kids, and a coupon book of my own to pay off. I remember that, 60+ years later. I don't have a coupon book, but I do have the mortgage(s)...Also I remember many years later reminding him of that conversation and he told me that his tax payments had grown higher than his mortgage.

[Altavia]

Sumter County will have a huge unplanned increase in tax revenue without raising taxes.

[GRACEALLEMAN]

We have been coming down since 2016 and plan on retiring, buying and living full time in the very near future. I see that most or all homes appear to sell within hours of listing and the prices have skyrocketed with no end in sight. Who is buying all these properties??? Are these new retirees, are they snowbirds, or are they speculators looking to make a buck renting them out? Is this all a bubble or will this continue into 2022? A brand new home we looked at in 2017 was listed for $270,000 - that same exact home today is around $400,000. They used to discount some of the homes when they advertised them on WVLG, no more. Most homes they advertise are $500,000+. My home has also appreciated but not at TV rate.
Everyone wants a safe " Normal" Place to live. The world is discovering it here ...very quickly. Just ask us...we escaped Portland Oregon to come here.

[nativetex]

My husband and I live in the country of Panama (originally from Texas). We will be closing on a house in TV on 7/26 and moving permanently to TV. We knew houses are selling so quickly so we made the decision to buy sight unseen. We have never bought a house sight unseen but love TV and decided that in order to live there, we had no other choice. We went on line every day, several times a day and made an offer right away when we found a home we liked. We were very fortunate that our offer was accepted the next day that we put an offer in. We are very excited when we make TV our permanent home.

[Girlcopper]

We have been coming down since 2016 and plan on retiring, buying and living full time in the very near future. I see that most or all homes appear to sell within hours of listing and the prices have skyrocketed with no end in sight. Who is buying all these properties??? Are these new retirees, are they snowbirds, or are they speculators looking to make a buck renting them out? Is this all a bubble or will this continue into 2022? A brand new home we looked at in 2017 was listed for $270,000 - that same exact home today is around $400,000. They used to discount some of the homes when they advertised them on WVLG, no more. Most homes they advertise are $500,000+. My home has also appreciated but not at TV rate.
Of course its just a housing bubble which will pop like in 2005. All kinds of people are buying but whats the difference who buys. The houses are selling. Friend of mine listed their home with a realtor and before it even went up on MLS, it sold at the asking price, in cash, as is. If you keep up on current events, you would know there is a housing shortage and theres no end in sight.

[FromDC]

My husband and I live in the country of Panama (originally from Texas). We will be closing on a house in TV on 7/26 and moving permanently to TV. We knew houses are selling so quickly so we made the decision to buy sight unseen. We have never bought a house sight unseen but love TV and decided that in order to live there, we had no other choice. We went on line every day, several times a day and made an offer right away when we found a home we liked. We were very fortunate that our offer was accepted the next day that we put an offer in. We are very excited when we make TV our permanent home. Welcome to The Villages! You have quite the long move from Panama! Once you finally get settled, you will know you made the right decision!

[eeroger]

We have been coming down since 2016 and plan on retiring, buying and living full time in the very near future. I see that most or all homes appear to sell within hours of listing and the prices have skyrocketed with no end in sight. Who is buying all these properties??? Are these new retirees, are they snowbirds, or are they speculators looking to make a buck renting them out? Is this all a bubble or will this continue into 2022? A brand new home we looked at in 2017 was listed for $270,000 - that same exact home today is around $400,000. They used to discount some of the homes when they advertised them on WVLG, no more. Most homes they advertise are $500,000+. My home has also appreciated but not at TV rate.

This is happening all over the country. My relatives are in a sleepy town in East TN & they said people from California are buying up land and houses as soon as they come on the market for $100-$150k more than what they are worth.

[Rodneysblue]

Low interest rates and lifestyle. 2 powerful things that will keep driving sales in TV. We are in a bubble but TV will not suffer as the rest of the country will when the bubble pops. And it will pop.
Don’t forget the stimulus checks that were given out last year , some extra cash for the down payment.

[PurePeach]

Really?? That is great news!!!

I'll ask my barber when they are going to start building.

I can’t find anything anywhere about Costco coming to Wildwood. They will be opening one in Clermont in about 8 or so months. Learned this at Costco in Orlando last week.

[DeeCee Dubya]

Word!

[DeeCee Dubya]

Why not list it for a couple weeks? Competitive bidding would get you more $

[tallmanf]

I heard it wasn’t Hooters, but a new place called Cougars. All the wait staff will be over 40.

[manaboutown]

"Come on down!" The Price is Right. lol

[Andrea3051]

As someone that is newly renting because prices went above my budget when I arrived, my brand new home rental was purchased for investment purposes only and I think they mentioned a rule allowing buyers that are not 55, as long as they are purchasing and renting out to a tenant of age. So, not only are you contending with people retiring here but also out of State investment buyers as well.
Best of luck in this crazy market!

[OhioBuckeye]

We have been coming down since 2016 and plan on retiring, buying and living full time in the very near future. I see that most or all homes appear to sell within hours of listing and the prices have skyrocketed with no end in sight. Who is buying all these properties??? Are these new retirees, are they snowbirds, or are they speculators looking to make a buck renting them out? Is this all a bubble or will this continue into 2022? A brand new home we looked at in 2017 was listed for $270,000 - that same exact home today is around $400,000. They used to discount some of the homes when they advertised them on WVLG, no more. Most homes they advertise are $500,000+. My home has also appreciated but not at TV rate.

The increase in homes are making it tough for low income families to get a little newer home! I live in the Dallas/Ft. Worth area & homes here have increased about $100,000. from what we paid for them.

[Malsua]

As someone that is newly renting because prices went above my budget when I arrived, my brand new home rental was purchased for investment purposes only and I think they mentioned a rule allowing buyers that are not 55, as long as they are purchasing and renting out to a tenant of age. So, not only are you contending with people retiring here but also out of State investment buyers as well.
Best of luck in this crazy market!

The bolded above is, to put it bluntly, nonsense.

This is an age restricted community and required by law that at least 80% of the households have at least one resident that is 55 or older. Right now that number is _well_ above that magic number of 80%, meaning they can sell it to whoever wants to buy it. If we hit a period where it gets much closer to 80%, it is possible that enforcement would tighten up. It is currently not an issue whatsoever.

[Kelevision]

I heard it wasn’t Hooters, but a new place called Cougars. All the wait staff will be over 40.

Hmmm, shouldn’t they be more like 90? I mean if a “cougar” is looking for a younger man? :1rotfl:

[Bilyclub]

As someone that is newly renting because prices went above my budget when I arrived, my brand new home rental was purchased for investment purposes only and I think they mentioned a rule allowing buyers that are not 55, as long as they are purchasing and renting out to a tenant of age. So, not only are you contending with people retiring here but also out of State investment buyers as well.
Best of luck in this crazy market!

The owner of the home might also be considering flipping the house when their year of ownership is up if the values keep climbing.

[butlerism]

My home in SS has gone up over $70.

[KRMACK55]

We have been coming down since 2016 and plan on retiring, buying and living full time in the very near future. I see that most or all homes appear to sell within hours of listing and the prices have skyrocketed with no end in sight. Who is buying all these properties??? Are these new retirees, are they snowbirds, or are they speculators looking to make a buck renting them out? Is this all a bubble or will this continue into 2022? A brand new home we looked at in 2017 was listed for $270,000 - that same exact home today is around $400,000. They used to discount some of the homes when they advertised them on WVLG, no more. Most homes they advertise are $500,000+. My home has also appreciated but not at TV rate.
The house you mentioned must be in a super desirable area. Most of the traffic is NY NJ CA WA OR people with loads of cash. There is also people in the villages trying to flip and use as rentals. There are also those who want to renovate and resell. This will extend into the end of the year at least. The prices aren’t worth it but since I’m finally getting a decent price to life here I’m grateful to sell this month

[KRMACK55]

I overheard a guy the other night down at Brownwood say that the biggest factor driving the prices upward in TV and homes selling so quickly now is that Costco has applied for a building permit in Wildwood
That’s crazy no one buys a house because of Costco. That’s why it’s called gossip

[toeser]

We have been coming down since 2016 and plan on retiring, buying and living full time in the very near future. I see that most or all homes appear to sell within hours of listing and the prices have skyrocketed with no end in sight. Who is buying all these properties??? Are these new retirees, are they snowbirds, or are they speculators looking to make a buck renting them out? Is this all a bubble or will this continue into 2022? A brand new home we looked at in 2017 was listed for $270,000 - that same exact home today is around $400,000. They used to discount some of the homes when they advertised them on WVLG, no more. Most homes they advertise are $500,000+. My home has also appreciated but not at TV rate.

It's happening all over the place. A relative sold their home in Minnesota for many thousands over the asking price before the listing even hit the market. A neighbor heard she was selling and sent a friend.

[KRMACK55]

You need to look at other places around here not necessarily in TV. When you consider the price and the huge increases twice a year for amenity fees cable and utilities going up 20% and taxes will go up more there are lots to choose from.

[RICH1]

Casserole capital of The World!

[Bilyclub]

You need to look at other places around here not necessarily in TV. When you consider the price and the huge increases twice a year for amenity fees cable and utilities going up 20% and taxes will go up more there are lots to choose from.

I'm pretty sure the amenity fees don't go up twice a year, and even once a year it is not a huge increase.

[Worldseries27]

i heard it was due to a new hooters coming here
featuring molly mounds

[Normal]

featuring molly mounds
I can’t hear, and now I know why I am grateful.

[RealtorKaren]

That was a good one. Thanks! Lol!

[Hiltongrizz11]

I overheard a guy the other night down at Brownwood say that the biggest factor driving the prices upward in TV and homes selling so quickly now is that Costco has applied for a building permit in Wildwood

Lol what a CROCK!!

Nobody upends their life and forks out big bucks for a store

Wow

[HRDave]

Word!

Love your avatar!!

[stebooo]

We have been coming down since 2016 and plan on retiring, buying and living full time in the very near future. I see that most or all homes appear to sell within hours of listing and the prices have skyrocketed with no end in sight. Who is buying all these properties??? Are these new retirees, are they snowbirds, or are they speculators looking to make a buck renting them out? Is this all a bubble or will this continue into 2022? A brand new home we looked at in 2017 was listed for $270,000 - that same exact home today is around $400,000. They used to discount some of the homes when they advertised them on WVLG, no more. Most homes they advertise are $500,000+. My home has also appreciated but not at TV rate.
Let's see, interest rates are at all time low. The villages still sell 200 homes a month. That may actually less than some years past. Can't be sure. Point being not much change. I don't think they are investors buying in bulk for rental. You should have bought years ago and rented. Still can. I think it's time to pull the trigger. There are lasts of homes for sell less than 500k maybe leave the villages realtor and look for another on village realtor.

[joelfmi]

Don't buy now any homes wright now their very over priced.

[JMintzer]

Lol what a CROCK!!

Nobody upends their life and forks out big bucks for a store

Wow

Your sarcasm meter is broken...

[LateBoomer]

Don't buy now any homes wright now their very over priced.

There are Wright homes in TV? where where?

[JMintzer]

There are Wright homes in TV? where where?

In the villages of Orville & Wilbur... :icon_wink:

[Bilyclub]

In the villages of Orville & Wilbur... :icon_wink:


I'm thinking more along the line of Frank and Lloyd.

[MikeandAnn]

The 55 and older is stated by The Villages. They want you to think that it’s the only way to buy here. Well look it up. It is Florida’s law that you can not do that. You have to allow a certain percent of under 55. I don’t know the actual percent. So you can buy a house here at 40 years old and move right in. You don’t have to rent it out. That is law, and you can look that up. Don’t let The Villages hide that part from you.

[JMintzer]

I'm thinking more along the line of Frank and Lloyd.

http://franklloydwright.org/wp-content/uploads/2017/02/fallingwater.jpg

[Laker14]

http://franklloydwright.org/wp-content/uploads/2017/02/fallingwater.jpg

I see you found a picture of my place. The view from the other side is Loblolly Executive Course.

[Toymeister]

The 55 and older is stated by The Villages. They want you to think that it’s the only way to buy here. Well look it up. It is Florida’s law that you can not do that. You have to allow a certain percent of under 55. I don’t know the actual percent. So you can buy a house here at 40 years old and move right in. You don’t have to rent it out. That is law, and you can look that up. Don’t let The Villages hide that part from you.

I am not quite sure of your point, although your post has factual errors. The Fair Housing Act, a Federal Statute, guarantees any American can live anywhere without fear of being redlined from any community.

There are exceptions for age based communities, over 65 and a separate one for over 55 communites. To meet this standard 80% of one of the individual homeowners
must meet the afore mentioned age requirements. There is nothing unique about Florida nor is there anything devious about this. The Villages is not remotely close to approaching 20% of 54 and under owners.

[JMintzer]

I see you found a picture of my place. The view from the other side is Loblolly Executive Course.

:bigbow::bigbow::bigbow:

[LoriAnn]

We have been coming down since 2016 and plan on retiring, buying and living full time in the very near future. I see that most or all homes appear to sell within hours of listing and the prices have skyrocketed with no end in sight. Who is buying all these properties??? Are these new retirees, are they snowbirds, or are they speculators looking to make a buck renting them out? Is this all a bubble or will this continue into 2022? A brand new home we looked at in 2017 was listed for $270,000 - that same exact home today is around $400,000. They used to discount some of the homes when they advertised them on WVLG, no more. Most homes they advertise are $500,000+. My home has also appreciated but not at TV rate.

No worries, things will change. I've seen this happen in The Villages before. People were panic buying homes sight unseen and paying more than asking price. Houses were flying off the market in hours! A subset of people were swearing it was NEVER going to end and The Villages was immune to normal real estate market corrections. The panic mongers were screaming that you better buy now or you will be priced out forever! You know what happened? It all changed! All of a sudden, there were 3-5% discounts on new construction. Re-sales were sitting on the market for months and sold for 10-15% below asking price. Hang in there. Things will change. Something will happen in the economy that will cause this market to cool and The Villages real estate will follow right along like it always does. I know it hard to wait and its easy to get caught up in the panic. Take some deep breaths, sit back and watch. It's coming....

[ithos]

Blackstone and other hedge funds have been gobbling up houses since the last downturn. With all the easy money they have accelerated their purchases during the pandemic.

So the previous home owners have much more to offer when they start looking in The Villages.

Here is one example:

Dezember recalls a three-bedroom, two-bath home in Spring Hill, Tennessee, that went on the market in April 2017. In the strong, fast-growing market, the seller had four bids on the house within hours.

“The high bid of $208,000 came from a couple with a child looking for their first house,” Dezember writes. “American Homes 4 Rent matched their offer, all cash.”

American Homes got the house, the seventh it had purchased on that street.

Corporations are buying houses — robbing families of American Dream (https://nypost.com/2020/07/18/corporations-are-buying-houses-robbing-families-of-american-dream/)

[manaboutown]

It is not just the Villages. Someone in Laguna Woods, CA, a 55 and over community, hardly got the door open yesterday for his first open house when he received an all cash offer well above his asking priced he had deemed inflated.

"$ per Sq Ft in Laguna Woods

$336/sqft
Median price per sqft for homes in Laguna Woods increased by 40.35% over the past 12 weeks."

From: Laguna Woods Housing Market: Laguna Woods Real Estate | ZeroDown (https://zerodown.com/explore/housing-market-analysis/california/greater-los-angeles/orange-county/laguna-woods)

[vintageogauge]

The 55 and older is stated by The Villages. They want you to think that it’s the only way to buy here. Well look it up. It is Florida’s law that you can not do that. You have to allow a certain percent of under 55. I don’t know the actual percent. So you can buy a house here at 40 years old and move right in. You don’t have to rent it out. That is law, and you can look that up. Don’t let The Villages hide that part from you.

As long as they don't have a child under 19 years of age.

[Babubhat]

Lumber futures have given up all gains for the year. Time for new home prices to reflect that soon

[Laker14]

863 Furman Loop, The Villages, FL 32162 | MLS# G5044245 | Trulia (https://www.trulia.com/p/fl/the-villages/863-furman-loop-the-villages-fl-32162--2032575928?mid=0#lil-mediaTab)

this one will likely go fast, and for more than asking price. JMO...I'm not in the market.

[CoachKandSportsguy]

Colleague in MA just sold his home to move. Current process: a batch of houses come on the market Mon and Tue, open house on the weekend. Bids due by Sunday night, winner and losers announced Monday morning, rinse and repeat.

winning bids have no contingencies and no inspection requirements and are over asking. . .

Current nation wide state of affairs for all those not following the actual outside the bubble housing market. . .

[Babubhat]

Lumber prices now down 66% since May. Let’s see if builders pass along that savings. It equals 13% of average house construction costs per today’s article

[JMintzer]

Lumber prices now down 66% since May. Let’s see if builders pass along that savings. It equals 13% of average house construction costs per today’s article

"Average" are typically not block constructed homes...

And yes, I know that TV also has "stick built" homes...

[MrFlorida]

Housing prices are high, but you can still live cheap in other areas. But....don't forget, your neighbors will also be cheap, if you get my drift....

[Woodbear]

Lumber prices now down 66% since May. Let’s see if builders pass along that savings. It equals 13% of average house construction costs per today’s article

I will know when we have our design appointment the first week of August. We were rough quoted a build cost near $405K. Lumber spot price in May was ~$1600. Today lumber spot price was $521(down another 13% in one day).

Knowing we are building a block home lets assume the lumber costs are 6.5% of the house construction. Our lumber cost in May would have been $26,300. In todays market those costs would be reduced to $8,600. That would make for a very welcomed savings of $17,700.

[Babubhat]

I hope they pass the savings along. Many builders are going to keep this as extra profit

[Woodbear]

I hope they pass the savings along. Many builders are going to keep this as extra profit

If they gave it to us, I would be much inclined to spend it elsewhere on the build. If the savings are kept, we will be disappointed for sure. The way limber is crashing its spot price may be at 1/4 of what we saw in May.

[Koapaka]

Reminds me of the early 80's when the price of sugar soared and they passed the cost along to consumer.....sugar prices went back down...the cost of everything containing sugar never was adjusted again. Remember when the same candy bar that use to cost a nickel or dime shot up....to 25 cents each???? Same candy bar now cost over a buck now..I would be happy to see the cost adjust accordingly as the price of lumbar comes back down, but if history repeats itself (and it does more often than not) you only see it adjusted when it is in can "justify" the requirement for price INCREASE.

[Normal]

If they gave it to us, I would be much inclined to spend it elsewhere on the build. If the savings are kept, we will be disappointed for sure. The way limber is crashing its spot price may be at 1/4 of what we saw in May.

I get it, but in the villages almost all the newer homes are cement block construction any how. Only the inside walls and trusses are wood. That said, construction materials made for other things have been hit by the inflation bug.

In the long run, I don’t really see prices going down much or at all. Maybe they will stabilize? You see, it isn’t some kind of financial bubble as much as it is supply and demand. When the supply does catch back up, how hard do you feel demand will effect the market? Prices won’t be dropping quickly or hard. In fact, we could be on the cusp of inflation, then all bubble theories are garbage.

[Timothyimitchell]

I get it, but in the villages almost all the newer homes are cement block construction any how. Only the inside walls and trusses are wood. That said, construction materials made for other things have been hit by the inflation bug.

In the long run, I don’t really see prices going down much or at all. Maybe they will stabilize? You see, it isn’t some kind of financial bubble as much as it is supply and demand. When the supply does catch back up, how hard do you feel demand will effect the market? Prices won’t be dropping quickly or hard. In fact, we could be on the cusp of inflation, then all bubble theories are garbage.

As long as mortgage rates are low, homes will remain as high as the demand. The real question is how much longer the FED can manipulate the marketS!! Yes, plural.

[Normal]

As long as mortgage rates are low, homes will remain as high as the demand. The real question is how much longer the FED can manipulate the marketS!! Yes, plural.

For sure, I question that too! We saw the primary pressures of inflation on used cars. They account for a little over 1/3 of our reported numbers for June. The Fed is right to wait, but when will they see the “Whites in their eyes” and pull the trigger? Will it be a rifle, shotgun, cannon or nuke?

If fuel prices continue an upward trend, that will drive the economy and inflation to a breaking point. We can then all open up our Billy Beer can stash and reminisce about which was worse, the 70s or now.

[vintageogauge]

As long as mortgage rates are low, homes will remain as high as the demand. The real question is how much longer the FED can manipulate the marketS!! Yes, plural.

Over 50% of homes sold in TV are cash deals, a rise in mortgage rates won't have the same effect here as in other areas.

[JMintzer]

Over 50% of homes sold in TV are cash deals, a rise in mortgage rates won't have the same effect here as in other areas.

It will if the sale of their previous home is needed to make that "cash deal"...

[Tim C.]

We just went under contract for our house in Tampa. Went up on realtor.com Saturday night at 8 pm. Sunday we had 11 showings and 3 offers. By the end of Tuesday, it was up to about 30 showings and more offers. We signed a contract yesterday morning for approximately $40K above our asking price and it was incentive-laden -- worth at least another $5k to us. The market is still hot. now we have to be out in a month and we will be in TV full-time

[vintageogauge]

It will if the sale of their previous home is needed to make that "cash deal"...

Most of those that I know sold their homes after buying their new home in TV, I'm sure some will need to sell ahead of time but not all of them. Four years ago homes up north were selling easily, not at the prices they bring today but there was no problem selling them in a reasonable amount of time. Also TV have been selling 7 new homes and 7 re-sales on average for the last 3 years and only recently went up a little higher. This place is unique and there are still 10,000 boomers reaching retirement age every day and they only need a handful and I'm sure there are more then a handful that have the cash.

[Babubhat]

Bridge loan or home equity loan will tide one over until other house is sold. Done it twice. You may also be able to borrow against your investments portfolio

[Robnlaura]

No worries, things will change. I've seen this happen in The Villages before. People were panic buying homes sight unseen and paying more than asking price. Houses were flying off the market in hours! A subset of people were swearing it was NEVER going to end and The Villages was immune to normal real estate market corrections. The panic mongers were screaming that you better buy now or you will be priced out forever! You know what happened? It all changed! All of a sudden, there were 3-5% discounts on new construction. Re-sales were sitting on the market for months and sold for 10-15% below asking price. Hang in there. Things will change. Something will happen in the economy that will cause this market to cool and The Villages real estate will follow right along like it always does. I know it hard to wait and its easy to get caught up in the panic. Take some deep breaths, sit back and watch. It's coming....

100% correct we have all been down this road.. the economy is just not doing well. Inflation is at an all time high. Gas prices continue to rise. The perfect storm is coming and guess what houses are just not immune.. as they say in real estate 10 years up 10 years down.. we are heading to the down part..

[Dan9871]

Inflation is at an all time high. .

In the 1950's inflation got up to 20% and in the 1970's it almost hit 15%,

United States Inflation Rate | 1914-2021 Data | 2022-2023 Forecast | Calendar (https://tradingeconomics.com/united-states/inflation-cpi)

[JMintzer]

Most of those that I know sold their homes after buying their new home in TV, I'm sure some will need to sell ahead of time but not all of them. Four years ago homes up north were selling easily, not at the prices they bring today but there was no problem selling them in a reasonable amount of time. Also TV have been selling 7 new homes and 7 re-sales on average for the last 3 years and only recently went up a little higher. This place is unique and there are still 10,000 boomers reaching retirement age every day and they only need a handful and I'm sure there are more then a handful that have the cash.

Never said there weren't...

We could have paid cash, but we chose to get a mortgage (which is less than what we're making on our investments in that money...)

Once we sell our home up North and move to TV on a more full time bases, we'll re-evaluate. Especially if we decide to buy a small place to keep up ere (where my kids still live...)

But I understand that we're luckier than most, in that we had that option...

[JMintzer]

100% correct we have all been down this road.. the economy is just not doing well. Inflation is at an all time high. Gas prices continue to rise. The perfect storm is coming and guess what houses are just not immune.. as they say in real estate 10 years up 10 years down.. we are heading to the down part..

Inflation is "at an all time high"?

You must have missed the Carter years, when it hit 13.3%...

[Becca9800]

Inflation is "at an all time high"?

You must have missed the Carter years, when it hit 13.3%...

Those were the years we tried to buy our first home but w interest rates in the very high teens (I'm recalling 18%, can you imagine?), we were out of the buyer's market.

[Normal]

Inflation is "at an all time high"?

You must have missed the Carter years, when it hit 13.3%...

High fossil fuel costs would kill any economy. They certainly do raise costs everywhere on almost everything across the board. In addition, continuing high prices on fossil fuels will solidify new price levels. Pray somehow the current administration finds a way to lower fuel costs. Without that key piece we will be placed on an economically parched projection for some time to come. Inflation will eat the poor and middle class alive.

[JMintzer]

High fossil fuel costs would kill any economy. They certainly do raise costs everywhere on almost everything across the board. In addition, continuing high prices on fossil fuels will solidify new price levels. Pray somehow the current administration finds a way to lower fuel costs. Without that key piece we will be placed on an economically parched projection for some time to come. Inflation will eat the poor and middle class alive.

"Finds a way"?

Oh, I dunno'... Maybe roll back the new restrictions on Federal drilling leases, fracking, off-shore drilling that led us to be a net exporter of energy for the first time in forever...

[Becca9800]

"Finds a way"?

Oh, I dunno'... Maybe roll back the new restrictions on Federal drilling leases, fracking, off-shore drilling that led us to be a net exporter of energy for the first time in forever...

DON'T forget the banned pipeline! I'm old enough to remember when gas was less than $2/gal. That was just a few short 8 months ago. No?

[manaboutown]

Jimmy Carter stagflation: I remember it well. 19% mortgage rates at one time

[manaboutown]

Jimmy Carter stagflation: I remember it well. 19% mortgage rates at one time

When I first started driving in 1958 gas was 27 cents/gallon.

[Debfrommaine]

Jimmy Carter stagflation: I remember it well. 19% mortgage rates at one time

Yes, and thrilled when we refinanced to 14%!

[Laker14]

Inflation is "at an all time high"?

You must have missed the Carter years, when it hit 13.3%...

I remember it well...inflation rose during his Presidency from 5.22% to 11.83% at the end of his term, a rise of 127%!

What I had forgotten, probably because I was still in school and not trying to buy a home at the time, was Nixon's performance on inflation...over the term of his Presidency, inflation went from 4.4% to 10.66%, eclipsing Carter's dismal performance with a 147% increase during his tenure.

[Timothyimitchell]

Inflation is "at an all time high"?

You must have missed the Carter years, when it hit 13.3%...

I was there. Not good. But, lots of things hidden today. The ONLY difference is the FED today Manipulates the entire market. Including INTEREST RATES.

[Tim C.]

Inflation is "at an all time high"?

You must have missed the Carter years, when it hit 13.3%...

truth. Hit that in 1980

but it's at a modern high this quarter. the last time it was anywhere near this was 1990 when it hit about 5.5%. It's being forecasted now at 5.0%. 31 years is a long time

[JMintzer]

I was there. Not good. But, lots of things hidden today. The ONLY difference is the FED today Manipulates the entire market. Including INTEREST RATES.

Pretty sure the Fed did that back then as well...

[Babubhat]

Well at least here it is not as bad as the Hamptons.


Bidding wars are a way of life, but lately they’ve become crazier than ever in the Hamptons. “People now line up outside these houses as if they are trying to get into a nightclub,’’ said Elliman broker Enzo Morabito.

[vintageogauge]

"Finds a way"?

Oh, I dunno'... Maybe roll back the new restrictions on Federal drilling leases, fracking, off-shore drilling that led us to be a net exporter of energy for the first time in forever...

Yep, it's just that simple but will not happen under this administration.

[Timothyimitchell]

In the 1950's inflation got up to 20% and in the 1970's it almost hit 15%,

United States Inflation Rate | 1914-2021 Data | 2022-2023 Forecast | Calendar (https://tradingeconomics.com/united-states/inflation-cpi)

In those days, the numbers were "closer" to real numbers. Data is reported differently today.

[Babubhat]

In those days, the numbers were "closer" to real numbers. Data is reported differently today.

Last month one house close to me sold in hours. Another on the same block just came up for sale and been sitting for 4 days. Both similar in size and price. Market must be cooling. Lol

[CFrance]

I see you found a picture of my place. The view from the other side is Loblolly Executive Course.
Have you solved the roof problem yet?

[Normal]

More than half the houses that were posted Wednesday are gone again…or, when you find a reasonable one, you click on it, and all of a sudden it says “pending”.

[Robnlaura]

The agents are creating a housing frenzy. We got a call saying I’m holding this house for you till 3pm yada yada yada same as 2006 agents created a frenzy.. it’s a lot of hype and fearmongering.. amazing that there somehow is always inventory to sell every week.. manipulated period this shall pass

[Normal]

The agents are creating a housing frenzy. We got a call saying I’m holding this house for you till 3pm yada yada yada same as 2006 agents created a frenzy.. it’s a lot of hype and fearmongering.. amazing that there somehow is always inventory to sell every week.. manipulated period this shall pass

I feel for you, but the “Frenzy” is a national thing. Agents aren’t conspirators; they are middle men/women with a job to do that hinges on communication in a volatile market. It doesn’t take much to sell your home and it takes a lot more to buy one.

Remember, this isn’t a 2006 situation for finances and markets. People can’t borrow like they did then or do short sales so don’t feel pressured like you could lose your shirt from a bad buy. The housing market isn’t going to crash all at once. Currently inventory in TV is short as well as nationally. When it catches up with demand in a couple years, look more for stability, not sudden downturns.

[CoachKandSportsguy]

I feel for you, but the “Frenzy” is a national thing. . . . Remember, this isn’t a 2006 situation for finances and markets. People can’t borrow like they did then or do short sales so don’t feel pressured like you could lose your shirt from a bad buy. The housing market isn’t going to crash all at once. Currently inventory in TV is short as well as nationally. When it catches up with demand in a couple years, look more for stability, not sudden downturns.

Bloomberg housing discussion this week, the nation is 5-6 million housing units behind. . . so currently this is a housing shortage not a housing bubble. A housing bubble is too many speculative houses. . . One of the reason for the shortage is that after the housing bubble, the mortgage qualification process is more stringent, which has caused a slow down in purchasing, which caused a slow down in building, second order effects, as well as the building industry transitioned to higher margin, larger houses, such as Toll Brothers, versus local builders who don't develop large tracts, not to say there aren't some.

The rest has to do with the first, second and third order effects of the pandemic and the workforce, including demographics with retirement and the younger ones.

So, the housing market is not looking at a crater similar to the 08 crash, a flattening at some point, a recession, where prices slide a bit from the high, at some point absolutely. But alot also depends upon the path/direction of the general economy as well, not just interest rates any more, as interest rates generally have only one major direction to go if it decides to trend.

But beware, the current 10 year bond rate and a few other leading indicators are suggesting an economic slowdown due to supply shortages is incoming, so waiting is one's best option if one wants a perceived better deal

finance guy

[Normal]

Interest rates will go up, but not enough to significantly effect the housing market. There will be a slow move at first, this Fed is cautious. There may actually be a spike in buying as many will feel they will never get this low again. Then a gradual stability will set in?

[vintageogauge]

Interest rates will go up, but not enough to significantly effect the housing market. There will be a slow move at first, this Fed is cautious. There may actually be a spike in buying as many will feel they will never get this low again. Then a gradual stability will set in?

Florida is also in demand due to those now able to work at home and save on their state taxes, still lots of 55 and overs working. Also "Normal" our daughter listed her home in Stow, Ohio last month and had 4 offers above her asking price the first day, they accepted the highest offer and it has closed and the new owners move in today. She lived on Laurel Woods.