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View Full Version : I don't mean to beat a dead horse, but are these prices of used homes for real.


Robbb
01-27-2022, 09:12 AM
I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.

billethkid
01-27-2022, 09:16 AM
I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.

They are.....and have been!

Dana1963
01-27-2022, 09:21 AM
I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.
We went thru this B4 2001 to 2007 housing bubble. It's not only happening here.

Bogie Shooter
01-27-2022, 09:22 AM
I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.

Isn’t it happening where you are now?

davem4616
01-27-2022, 09:25 AM
$345 to $700 in under a year???

I wonder if it is the exact same house

that said, it certainly appears to be a sellers market

Bilyclub
01-27-2022, 09:25 AM
I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.

Please post the address.

Robbb
01-27-2022, 09:31 AM
5746 Landon Ave, sold April 2021 346K listed at 697,500 now, they may have added a pool, but still a 101% increase in 9 months. The crazy thing about it is, that it will probably sell in 15 minutes.

billethkid
01-27-2022, 09:39 AM
$345 to $700 in under a year???

I wonder if it is the exact same house

that said, it certainly appears to be a sellers market

Yes as long as one does not have to buy another property as the advantage will be absorbed by the escalated price of the new property!!

Bilyclub
01-27-2022, 09:51 AM
5746 Landon Ave, sold April 2021 346K listed at 697,500 now, they may have added a pool, but still a 101% increase in 9 months. The crazy thing about it is, that it will probably sell in 15 minutes.

I though all buyers had to sign a legal document stating they would not sell their house for a year.

Owner's Name PAN AMERICAN PROPERTIES INC
Site Address 5746 LANDON AVE, THE VILLAGES, FL 32163
Mail Address 17 UNION RD RTE 221, C1E 3B2, FC


The Villages is also the lister. Looks like some sort of flipping?

rustyp
01-27-2022, 09:54 AM
I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.

Insanity is the real estate commission. At 6% in April it was $20700. 9 months latter the same house commission is $42000. According to some sources people are standing in line to buy houses. The way I see it the real estate firm is doing less work and less advertising expenses at a minimum. Are the sellers really paying these (fill in the blank) kind of commissions ?

Robbb
01-27-2022, 09:58 AM
They mention the home cannot close until April 9th I believe.

Robbb
01-27-2022, 10:03 AM
I though all buyers had to sign a legal document stating they would not sell their house for a year.

Owner's Name PAN AMERICAN PROPERTIES INC
Site Address 5746 LANDON AVE, THE VILLAGES, FL 32163
Mail Address 17 UNION RD RTE 221, C1E 3B2, FC

Ok I get it now, foreign buyers buying up property as investments, then flipping them in a year. I, naively didn't realize that was happening there. Buy it, rent it out for a season then flip it.

Bilyclub
01-27-2022, 10:05 AM
They mention the home cannot close until April 9th I believe.

Yeah, just read the flyer. Looks like the pool was added too. No birdcage over the pool.


The Villages - POH Flyer (https://app.thevillages.com/povflyers/flyerprint/public/235198)

JP
01-27-2022, 10:15 AM
House prices are insane. I guess if you sell your place up north for a crazy price, you are willing to buy here for a crazy price. Lots of factors driving the prices higher such as companies such as Zillow buying homes. I've read they recently stopped. Prices will fall. It's just a matter of when.

kkingston57
01-27-2022, 10:18 AM
If these #'s are correct, I suspect that previous buyer had many upgrades including a swimming pool. Our neighbors did the same thing.

Suspect that the amount of potential buyers is dwindling. This should calm the market down

Bilyclub
01-27-2022, 10:18 AM
Ok I get it now, foreign buyers buying up property as investments, then flipping them in a year. I, naively didn't realize that was happening there. Buy it, rent it out for a season then flip it.

Canadians.

VApeople
01-27-2022, 10:21 AM
It appears that some of the seemingly overpriced resales are NOT selling.

I Iris near us sold for about $440K last summer. Now a nearby Iris is asking $565K and it has gone unsold for several weeks.

Robbb
01-27-2022, 10:24 AM
It appears that some of the seemingly overpriced resales are NOT selling.

I Iris near us sold for about $440K last summer. Now a nearby Iris is asking $565K and it has gone unsold for several weeks.

LOL a ray of hope.

sail33or
01-27-2022, 10:33 AM
I personally know for a fact (ie. I know those doing it) are flipping houses and making hundreds of thousands of dollars. I know one couple that just made $800,000(profit) after adding a pool.

And people are paying $1,700,000 for a 2,000 sq ft house with a pool. That is only happening here.

ThirdOfFive
01-27-2022, 10:36 AM
I personally know for a fact (ie. I know those doing it) are flipping houses and making hundreds of thousands of dollars. I know one couple that just made $800,000(profit) after adding a pool.

And people are paying $1,700,000 for a 2,000 sq ft house with a pool. That is only happening here.
The question is why.

To me it seems sorta like buying a sandbox in Las Vegas. There are (as I recall reading) over 100 pools available for TV residents; heated and sanitized.

Laker14
01-27-2022, 10:38 AM
I am surprised at how few homes are for sale between Lake Sumter Landing and Pinellas. That's a pretty highly sought after area, due to proximity to LSL, Brownwood, many executive and championship courses.
There just isn't much to be had there.

VApeople
01-27-2022, 12:46 PM
There are (as I recall reading) over 100 pools available for TV residents; heated and sanitized.

I believe the beautiful new pool at Homestead Rec Center in number 103.

tvbound
01-27-2022, 12:53 PM
The obscene increases is not just TV, it's nationwide. While I think the bubble will soon be pricked, I don't see the bottom going back to where it was even 1-2 years ago. In hindsight it seems we sold our old home a bit early, anticipating a quick move to TV (yet to happen), we were satisfied at the time and still are, particularly since the invested proceeds have done extremely well. Sooo, we'll wait for a correction that we think is reasonable (smart enough to not try and time the absolute very bottom), then purchase in our preferred area which is a +-2 mile radius from LSL. In the meantime, there's a lot worse things than spending winters here renting. Except maybe last week...or next. lol

DAVES
01-27-2022, 01:16 PM
I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.

Re: prices for homes, you can ask whatever you want. The question is what do you sell it for. We I guess like all people have experience, not much but some experience buying homes, selling homes and shopping for homes. Frankly home costs are going up everywhere. First of all there is high demand due to low mortgage rates, and there is also higher building costs, higher cost for land, causing a shortage of new housing stock. A home that sold for 345 and now listed at 700. Obviously a lot of missing details. Assuming it is really worth the 700,000. It is possible someone put a lot of money into the home. We all are aware of those shows about people who update homes and then resell them. Perhaps, as my sister did, she sold her home to her daughter for far less than it's real value.

Our own experience. We sold our home for roughly 6x what we paid for it. When, be bought it roughly 40 years ago, we paid roughly 3x what my parents paid for their home which was roughly twice the size of ours roughly 12 years earlier. For a down payment I put down, in cash, what my parents paid for their home. I never thought it would go up as high as it did. We bought in the villages 9 years ago. Again, I never thought it would go up-BUT IT DID.

My point is all must decide what they want, WHAT THEY CAN AFFORD. WOULDA, SHOULDA COULDA, MIGHTA does not help at all. Like say the stock market. Hindsight is of no value. WOULDA SHOULDA COULDA MIGHTA is also of no value.

Laker14
01-27-2022, 02:43 PM
Rather than looking at what people are asking, you'll get more meaningful information on Trulia. You can search "recently sold", and filter for "newest". You won't see anything handled by The Villages Realty, only MLS listing sold. No question things are going up, but not as crazy as what you might think looking at some of the asking prices.

pablo cruze
01-27-2022, 05:48 PM
Demand is increasing a lot.
Supply in increasing a little.
Driving more developments just outside our bubble. Wildwood is building up fast.

However these higher sales prices should help reduce the tax burden for us that remain in our humble abodes.

I'm in Sumter, so assuming the land baron developer of the villages doesn't succeed with the deceitful plan to impose increased tax burden to existing homeowners for future development (impact fees), shouldn't I assume that my tax bill will go down?

Let's assume the population increases by 3701 people this year....that's just over 2.6%. Then let's assume that costs to run the county go up by 7% this year (LGB affect).
There aren't many children vs population so funding of schools shouldn't increase too much..
So maybe the county costs go up by 8.5%. Maybe less since they are cost cutting (Village annex closed).

Each homeowner burden is based on the assessed value of their home (real value is determined at a sale / assessed value increases are capped / but can be reduced during downturns by the action of the county assessor)
Since 1995 the assess value can increase no more than the CPI or 3% whichever is lower, assuming no major upgrades.

Now...due to the huge cost (value) increases for homes sold recently, the revenue to the county from the new homeowners will be substantially higher.
Seems intuitively obvious that my meager dwelling should bear a lesser burden thanks to the influx of the increased revenue.

https://floridarevenue.com/property/Documents/pt107.pdf

County Millage Rate Information | Sumter County, FL - Official Website (https://www.sumtercountyfl.gov/865/County-Millage-Rate-Information)

sumter county population increase 2020 to 2021 - Google Search (https://www.google.com/search?q=sumter+county+population+increase+2020+to +2021&rlz=1C1JZAP_enUS685US725&oq=sumter+county+population+increase+2020+to+2021&aqs=chrome..69i57.21215j0j7&sourceid=chrome&ie=UTF-8)

http://https://www.**************.com/2019/09/24/huge-crowd-attends-final-sumter-county-hearing-on-25-percent-tax-hike/

valuemkt
01-27-2022, 06:07 PM
I though all buyers had to sign a legal document stating they would not sell their house for a year.

Owner's Name PAN AMERICAN PROPERTIES INC
Site Address 5746 LANDON AVE, THE VILLAGES, FL 32163
Mail Address 17 UNION RD RTE 221, C1E 3B2, FC


The Villages is also the lister. Looks like some sort of flipping?

Not all buyers .. First time buyers, After that, it's the free market at work. Nobody is forcing anyone to buy a home Will the bubble burst some day ? It certainly has in the past.. but how, when and where is what makes the game interestinghh

Babubhat
01-27-2022, 06:41 PM
Nope. Been getting mail for 4 percent commissions. Zero is the right number in this market

BigSteph
01-27-2022, 06:52 PM
Actually, in the same neighborhood, about 2 streets down, another owner is selling his house for 1.5+ million. I understand he paid 770K for it 11 months ago. It is listed as needing to close right after his 1-year mark, so he can keep the profits. He did upgrade the interior quite a bit -- although, not 100% markup improvement.

The owner and his wife are private citizens, not a corporation. I'm told they like to personally flip homes in the Villages.



Ok I get it now, foreign buyers buying up property as investments, then flipping them in a year. I, naively didn't realize that was happening there. Buy it, rent it out for a season then flip it.

Laker14
01-27-2022, 07:05 PM
Actually, in the same neighborhood, about 2 streets down, another owner is selling his house for 1.5+ million. I understand he paid 770K for it 11 months ago. It is listed as needing to close right after his 1-year mark, so he can keep the profits. He did upgrade the interior quite a bit -- although, not 100% markup improvement.

The owner and his wife are private citizens, not a corporation. I'm told they like to personally flip homes in the Villages.

It's all fun and games until someone loses an eye.

Petersweeney
01-28-2022, 06:01 AM
A lot of Chinese money….. they buy and rent…..our grandchildren will all be renters someday to the CCP…

FWPierceIII
01-28-2022, 06:03 AM
I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.

I've discovered the best time to invest in a home is just after a hurricane passes through... if you look at the prices over the years... there are huge price swings. The current price increase seems to be the cost of materials and labor... labor is in such demand and so much work right now. Look for a temporary solution and wait. I am also looking for a home in the Villages... I'm a cash buyer and when I see it... I will have to jump!!! no hesitation allowed.

La lamy
01-28-2022, 06:05 AM
Canadians.

I guess you missed this post. Definitely not Canadian.

Owner's Name PAN AMERICAN PROPERTIES INC
Site Address 5746 LANDON AVE, THE VILLAGES, FL 32163
Mail Address 17 UNION RD RTE 221, C1E 3B2, FC

banjobob
01-28-2022, 06:17 AM
Well that is extreme, but seems every homeowner is very happy with the demand for homes in the Villages especially if have owned it for several years. They say villagers move an average of three times,judging from prices over the years buying and selling with continued price increases makes for a very nice cash retirement.

Luggage
01-28-2022, 06:27 AM
The solution is not to buy in The villages. There are at least 8 or 10 other Senior communities all with lovely golf courses 50% of the price of The villages. It's cold location location. PS and yes it is happening all over the country my son is priced out of the market as a home that was half a million last year is now 1 million so isn't it crazy that our children and their grandchildren will never ever be able to afford homes again especially since interest rates are going to be rising to fight inflation

thevillages2013
01-28-2022, 06:36 AM
I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.

Apples to apples comparison would be two sold prices. Your example is a sold vs a listing price. Also it’s in Hawkins and should come with built in audio of THE TURNPIKE

Pres1939
01-28-2022, 06:39 AM
I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.
No home jumped that much in price unless someone discovered oil or gold there. Might be a good idea to check those figures again.

thevillages2013
01-28-2022, 06:45 AM
A lot of Chinese money….. they buy and rent…..our grandchildren will all be renters someday to the CCP…

I’m glad I’m not the only one who realizes this

MX rider
01-28-2022, 06:45 AM
That price seems pretty extreme. We just bought a nice 2 and 2 built in 2009 for $285K. Our budget was $310K, so we were happy with our purchase. We bought it for a snowbird home, but we were prepared to keep looking if we didn't find what we liked.

It has appreciated like all homes there but not a real crazy amount. Like many have said, home prices are up everywhere and inventory is at an all time low.

We're trying to downsize from our 3000 sq ft home here in SW Indiana, but we can't even find anything to go look at around our area.

I don't see TV home market cooling off for a while. Too many boomers looking to move to warmer weather. And there's a lot of us. Factor into that as well, more people are retiring early than there used be.

I'm thinking the market will level off at some point, but who knows when.
I'm 65 and my wife is 66. We don't feel like we have the time to wait it out. Now, if we were 10 years younger we would probably be willing to see how it all shakes out. Then again, it may never go down. It's a roll of the dice.

Miekies
01-28-2022, 07:11 AM
Insanity is the real estate commission. At 6% in April it was $20700. 9 months latter the same house commission is $42000. According to some sources people are standing in line to buy houses. The way I see it the real estate firm is doing less work and less advertising expenses at a minimum. Are the sellers really paying these (fill in the blank) kind of commissions ?

Negotiate, negotiate, negotiate. We paid our agent 1.25 % and the buyer 2.5% when we sold our home in Texas to move here.

kbennett007
01-28-2022, 07:26 AM
Wages and cost of living are far higher outside the State of FL. Stands to reason those out of Stater’s are retiring here in this great State. Selling their $1M+ homes and buying here with cash offers. Yes, the market comps drive the value and there is $$ coming here. I’d do the same. Sell my outrageously priced home in CA, NY, MA, NJ, etc. and buy here to retire. Instant balance of “Living the Dream” money left over!

Hankofthedesert
01-28-2022, 07:30 AM
it's called market driven....good if you are selling, not so good if you are buying

JerseyGurl
01-28-2022, 07:40 AM
Unless you’ve been living under a rock, housing prices have soared as have new and preowned vehicles. Now is not the time to buy either.

spieka1912
01-28-2022, 07:41 AM
It’s all over the country In desired areas. My son built house in Boyntan beach 1.5 years ago for $525,000. Now that house selling for $1,000,000+. Wait it out, happened in 2008 also.

Lindaws
01-28-2022, 07:46 AM
The prices will come down and many owners maybe “underwater”

BlueStarAirlines
01-28-2022, 07:59 AM
I guess you missed this post. Definitely not Canadian.

Owner's Name PAN AMERICAN PROPERTIES INC
Site Address 5746 LANDON AVE, THE VILLAGES, FL 32163
Mail Address 17 UNION RD RTE 221, C1E 3B2, FC

A name is a name and can literally be anything. Canada is part of North America...literally part of the continent. What about the mailing address?

Bay Kid
01-28-2022, 08:04 AM
Come on man, it is all funny money. I just sold a 3 year old car to the DEALER for $4,000 more than my out the door price.

Sandy and Ed
01-28-2022, 08:09 AM
I guess you missed this post. Definitely not Canadian.

Owner's Name PAN AMERICAN PROPERTIES INC
Site Address 5746 LANDON AVE, THE VILLAGES, FL 32163
Mail Address 17 UNION RD RTE 221, C1E 3B2, FC
Prince Edward island

rustyp
01-28-2022, 08:11 AM
Come on man, it is all funny money. I just sold a 3 year old car to the DEALER for $4,000 more than my out the door price.

Let's see if the laughter continues when purchasing the next car.

Cliff Fr
01-28-2022, 08:13 AM
The bubble will pop soon

Speedie
01-28-2022, 08:14 AM
If these #'s are correct, I suspect that previous buyer had many upgrades including a swimming pool. Our neighbors did the same thing.

Suspect that the amount of potential buyers is dwindling. This should calm the market down

When rates go up then sales rate goes down.
Now pricing may be a different animal driven by overall inflation results that clock is hard to run backwards.

BlueStarAirlines
01-28-2022, 08:15 AM
Actually, in the same neighborhood, about 2 streets down, another owner is selling his house for 1.5+ million. I understand he paid 770K for it 11 months ago. It is listed as needing to close right after his 1-year mark, so he can keep the profits. He did upgrade the interior quite a bit -- although, not 100% markup improvement.

The owner and his wife are private citizens, not a corporation. I'm told they like to personally flip homes in the Villages.

Is this the one on Brett Way? If not, this is another house that is being sold at double the price. The one on Chitty Chatty Way is close to double as well.

HoosierPa
01-28-2022, 08:18 AM
I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.

Yes they are for real. We just sold our home and loving it. Only bad thing is we bought another one I’m not loving that price so much but we love the adventure and the new area. Been through a crash before so I have my helmet on and I am ready

noslices1
01-28-2022, 08:18 AM
Rather than looking at what people are asking, you'll get more meaningful information on Trulia. You can search "recently sold", and filter for "newest". You won't see anything handled by The Villages Realty, only MLS listing sold. No question things are going up, but not as crazy as what you might think looking at some of the asking prices.

I saw, in the Daily Sun, two of the same model. One was asking $224,000.00 and the other was asking $349,000.00. From the outside, the less expensive house looked better with nice landscaping, but the other was “turn key” (furnished) Must have nice furniture to add $125,000.00 to selling price.

HoosierPa
01-28-2022, 08:21 AM
I bet it’s real

terenceanne
01-28-2022, 08:26 AM
We could not buy our own house today - also we have friends that may like to move to TV but the prices are restrictive to them. This leads me to wonder who is buying homes for $900k that should be $350k. Apparently only millionaires.

sallyg
01-28-2022, 08:26 AM
Houses are selling faster than ever in TV. Many areas of the country look to have inflated home prices right now. The difference is that prices will probably settle down elsewhere. TV homes keep their value and continue to increase. Between the first time we home shopped (2013) and the time we purchased (2015), prices had
increased to the extent that we were afraid we wouldn't be able to afford to buy! Good luck.

irishwonone
01-28-2022, 08:30 AM
I guess you missed this post. Definitely not Canadian.

Owner's Name PAN AMERICAN PROPERTIES INC
Site Address 5746 LANDON AVE, THE VILLAGES, FL 32163
Mail Address 17 UNION RD RTE 221, C1E 3B2, FC
I was thinking the same thing. Great minds think alike!👍🏻

Smalley
01-28-2022, 08:34 AM
I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff. I agree that some sellers are listing for their "dream prices". Only pay what is fair market value. Check the recent comparables. I have seem several price drops and houses on the market for a month that were listed at super-high prices. The market in 2022 is a bit more favorable to buyers than last year IMHO.

JanetMM
01-28-2022, 08:37 AM
I guess you missed this post. Definitely not Canadian.

Owner's Name PAN AMERICAN PROPERTIES INC
Site Address 5746 LANDON AVE, THE VILLAGES, FL 32163
Mail Address 17 UNION RD RTE 221, C1E 3B2, FC

Please check out definition of Pan American. Any independent country across the Americas. So any country within South or North America. China is not a Pan American country, Canada is. America here is the continent not the United States of America.

merrymini
01-28-2022, 08:38 AM
Why is someone on this site who recommends not buying in the Villages? If you do not like the Villages get off!

Waltdisney4life
01-28-2022, 08:49 AM
Higher the better!

donassaid
01-28-2022, 08:50 AM
So much for 7% inflation.

kendi
01-28-2022, 08:56 AM
Housing market is calming down up north. House are on the market longer and some go for less than asking price.

Proveone
01-28-2022, 09:01 AM
We went thru this B4 2001 to 2007 housing bubble. It's not only happening here.
There is so much inventory that people should rent and wait for the bubble to burst. It happened in '08 and The Villages was discounting new homes because demand was down and they had a large inventory of SPEC homes. I'd wait!

rherb55
01-28-2022, 09:16 AM
I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.

It really is happening…. Especially In the Lake Sumter area…. This area is Centrally Located…… Homes are selling very fast. Even the smaller ones that are 2 bedroom…. 2 bathrooms and 1 car garage are going well over
&200,00 —— $300,00….. It’s a beautiful place to live…..if you see one you like better be ready to buy because someone else is right behind you….. Especially near Lake Sumter……

MrFlorida
01-28-2022, 09:22 AM
It's all over the country, not just in the Villages.

Driller703
01-28-2022, 09:22 AM
$345 to $700 in under a year???

I wonder if it is the exact same house

that said, it certainly appears to be a sellers market

Sounds like one with a pool or view, and one without. You will also note that they are not sitting unsold for long Either buy one now, or pass on the Villages. The prices are not going down.

maistocars
01-28-2022, 09:22 AM
I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.
That house is a 1512 sq. ft Villa. A little research will show that you can get a brand 1500-2000 sq. ft. new Villa in Chitty Chatty (Ty Villas) with the same wrought iron railing in the back with a view (all with water or preserve views) and beautiful designer touches, nicer than the ones in Landon Ave., for less than $500k. Golf cart MM entrance access and the GC bridge over to Lake Deaton Plaza and the Rohan RRC around the corner. Beautiful walking trails backing to Chitty Chatty preserve and a short 8 min GC ride to Sawgrass Grove. It sold me and for $250-$300 less than the one in Bonifay. TV currently having Open Houses Mon-Sat.

tophcfa
01-28-2022, 09:24 AM
Higher prices equal higher accessed values equals higher property taxes. So even if you are not in the housing market, simply owning a house will cost more, inflation!

CJH929
01-28-2022, 09:39 AM
Check the Sumter County Tax Collector website. Follow the “owners:
Pan American links to
The Villages Land Co which links to
The Villages Developement Co.
Looks like it never left the ownership of the Developer.
Add a pool on a view site and that’s how the price went up.

MandoMan
01-28-2022, 09:41 AM
That house is a 1512 sq. ft Villa. A little research will show that you can get a brand 1500-2000 sq. ft. new Villa in Chitty Chatty (Ty Villas) with the same wrought iron railing in the back with a view (all with water or preserve views) and beautiful designer touches, nicer than the ones in Landon Ave., for less than $500k. Golf cart MM entrance access and the GC bridge over to Lake Deaton Plaza and the Rohan RRC around the corner. Beautiful walking trails backing to Chitty Chatty preserve and a short 8 min GC ride to Sawgrass Grove. It sold me and for $250-$300 less than the one in Bonifay. TV currently having Open Houses Mon-Sat.

There are a lot of nice things about this house, and the pool is a nice addition. I don’t follow lot prices, but my recollection is that lots in that area went for about $40,000 for average lots but close to $300,000 for the choicest lots with a full lake view—just for the lot. I think that house would sell for $350,000 easy as it is if it had no view in that neighborhood. Add $300,000 for where the lot is and we are at $650,000. Perhaps the original price listed isn’t taking into account the lot.

OhioBuckeye
01-28-2022, 09:42 AM
Gotta laugh, yea people are paying it. I have family member that built a home about a yr. to a yr. & a half ago & they paid $450,000. for it & they have 2 offers on it for $800,000. If it were me, it would of been gone. But 3,900 hundred sq. ft. homes here are going for that & they are selling for $900,000. to 1,000,000. If you want to live in TV you better pay the price because if you don’t someone will. Yes, I agree with you, these are insane prices. Our home went up $150,000. But if get my price I’ll definitely have to pay a heck of a lot more for another home. A yr. from now the bottom could fall out of home prices & you could lose a lot of money. It’s scary!

Timothyimitchell
01-28-2022, 10:26 AM
The bubble will pop soon

Right. But, at the end of the day, we here have great shelter in a great place. I am thankful.

nn0wheremann
01-28-2022, 10:45 AM
I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.
No kidding? Great time to sell, bad to buy. Wait until a week or two after the first hurricane. This is prime time high season.

Bellavita
01-28-2022, 11:07 AM
it might have been a complete flip?

I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.

wmc1000
01-28-2022, 11:10 AM
Quite possibly the "sale" last year was for the lot only?

Villages Kahuna
01-28-2022, 12:06 PM
A little less than three years ago we sold our home in Mallory for full asking price to the first people to look at it on Day 1. I had set the price very close to the top priced comparative sales.

Eighteen months later the buyers decided to move back north and put the house up for sale. It sold in about an hour for their full asking price which was $165,000 more than they paid me for it only 18 months earlier. And from what I hear, prices are much higher now.

joelfmi
01-28-2022, 12:22 PM
We went thru this B4 2001 to 2007 housing bubble. It's not only happening here. If you can wait until prices are more realist do so, don't buy now most seller are now trying to make a killing.

gwoodak
01-28-2022, 12:45 PM
5746 Landon Ave, sold April 2021 346K listed at 697,500 now, they may have added a pool, but still a 101% increase in 9 months. The crazy thing about it is, that it will probably sell in 15 minutes.


Homes went up 18+% in Florida the month of November 2021 alone.

mkjelenbaas
01-28-2022, 01:31 PM
You are correct - the prices are going crazy UP -- same thing in Michigan where we came from! Behind LSL are the Lakeside Cottages -- one year ago one sold (on the lake) for $1.3M - it never made the paper! It just sold for $1.55M after one year and this also did not make the sales floor!!! Good luck in your search.

manaboutown
01-28-2022, 01:43 PM
5746 Landon Ave, sold April 2021 346K listed at 697,500 now, they may have added a pool, but still a 101% increase in 9 months. The crazy thing about it is, that it will probably sell in 15 minutes.

according to this it sold for $324,319. 5746 Landon Ave, The Villages, FL 32163 | Zillow (https://www.zillow.com/homedetails/5746-Landon-Ave-The-Villages-FL-32163/326179076_zpid/)

LianneMigiano
01-28-2022, 02:02 PM
AND the worst part is they're asking prices as if they were up North in the NY/NJ/CT region - and they don't even have an attic/basement or decent sized lot that most of those homes have!

LianneMigiano
01-28-2022, 02:06 PM
We went thru this B4 2001 to 2007 housing bubble. It's not only happening here.
And then we had the bubble BURST and home prices dropped drastically. Wouldn't suggest that people buy in this market as an investment to flip with the previous market that happened....

dewilson58
01-28-2022, 02:20 PM
People, People, People............

Go back into history and see what happened to home prices in The Village in 2007/2008/2009. Get the facts.

The Villages home values did not fall even 50% of the national averages. It was closer to 25% of the national hit. NOT 25% value hit, 25% of the national hit.

Breath people, Breath.

:ho:

Fredster
01-28-2022, 02:34 PM
AND the worst part is they're asking prices as if they were up North in the NY/NJ/CT region - and they don't even have an attic/basement or decent sized lot that most of those homes have!

Then it must be location, location, location!:shocked:

manaboutown
01-28-2022, 02:48 PM
One can obtain a graph of prices over the years in 32162 from this site. 32162 Home Prices & Home Values | Zillow (https://www.zillow.com/the-villages-fl-32162/home-values/)

Also: All-Transactions House Price Index for the Villages, FL (MSA) (ATNHPIUS45540Q) | FRED | St. Louis Fed (https://fred.stlouisfed.org/series/ATNHPIUS45540Q)

asianthree
01-28-2022, 02:57 PM
Quite possibly the "sale" last year was for the lot only?

No home in TV is sold lot only. When you put money on a lot you have x amount of days to start build. House price does not show on property info until it is completed

JoMar
01-28-2022, 03:20 PM
I've discovered the best time to invest in a home is just after a hurricane passes through... if you look at the prices over the years... there are huge price swings. The current price increase seems to be the cost of materials and labor... labor is in such demand and so much work right now. Look for a temporary solution and wait. I am also looking for a home in the Villages... I'm a cash buyer and when I see it... I will have to jump!!! no hesitation allowed.

Another young person coming......welcome.

fdpaq0580
01-28-2022, 04:05 PM
I guess you missed this post. Definitely not Canadian.

Owner's Name PAN AMERICAN PROPERTIES INC
Site Address 5746 LANDON AVE, THE VILLAGES, FL 32163
Mail Address 17 UNION RD RTE 221, C1E 3B2, FC

Google shows mail address for a construction company in Braxton, P. E. I. Is Prince Edward Island part of Canada?
😯

tjdmlhw
01-28-2022, 04:07 PM
I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.

Zillow shows 94 homes under $600K listed in the Villages and the majority of them look better than the $700K one you are talking about. What's more some of those homes have been on the market for a month or longer and have started dropping their prices.

Bilyclub
01-28-2022, 06:40 PM
I guess you missed this post. Definitely not Canadian.

Owner's Name PAN AMERICAN PROPERTIES INC
Site Address 5746 LANDON AVE, THE VILLAGES, FL 32163
Mail Address 17 UNION RD RTE 221, C1E 3B2, FC

I posted that so, I didn't miss it. Since when is Prince Edward Island not in Canada ?

Bilyclub
01-28-2022, 06:48 PM
I was thinking the same thing. Great minds think alike!👍🏻



Great minds that took a shot at me and were totally wrong. Looks like Canada to me. Surrender your Mensa membership.

Laker14
01-28-2022, 07:14 PM
First time in my life I ever bought BEFORE the bubble.

CoachKandSportsguy
01-28-2022, 07:52 PM
Yes there has been accelerated retirement home buying in TV. But look at how the developer develops and sells properties here. The latest village opened up for sale, ST John's I think, the lots/villas all sold in less than a week or so. So if you have been thinking about buying down here, and you haven't come down, met the TV sales staff, have a TV sales contact, you probably aren't going to buy a new lot when they get released.

So now you are looking for what's advertised, and flippers and 1 year owners, etc, are trying to make a mint while they can, so they ask very high prices, and if anyone bites, then everyone is happy. There are a variety of price sensitive and price insensitive buyers. . .

Also, understand that the number of corporate retirees across the country skyrocketed in the pandemic, and they have plenty of money, to move. So the interest and money is vast across the country, realize that they might focus here. . so whomever said, I have never purchased before the boom, we are lucky, nothing special, just lucky. . . And also better lucky than good. . . because I am not good, just lucky. . .

However, asking price and final sales might be entirely different. . . make sure you know how much you can afford and then spend the time looking there. And there will be people who will have missed their opportunity, because they weren't ready or couldn't make the decision fast enough, or are a dreamer beyond their means, and that is just life. . . or they can be very , very patient, rent down here, and seriously look and be ready to make an offer that day. . But if you are paralyzed by analysis, you might just never get a satisfactory opportunity.

Bilyclub
01-28-2022, 08:04 PM
Check the Sumter County Tax Collector website. Follow the “owners:
Pan American links to
The Villages Land Co which links to
The Villages Developement Co.
Looks like it never left the ownership of the Developer.
Add a pool on a view site and that’s how the price went up.

No, Pan American Properties bought a house at 645 MINCEY LOOP, THE VILLAGES, FL 32163 in August of 2021 from the Properties of The Villages. There is no link to the developer other than Pan American Properties bought two houses from the developer.

Dorebea
01-28-2022, 08:25 PM
They mention the home cannot close until April 9th I believe.

Yep, looks like it sold on April 8, 2021 so exactly a year!

I’ll bet they added the pool. Beautiful view but not much else to say about the house. And…. right next to the rec center noise.

Pool or not, i would not pay that much for that house.

Djean1981
01-28-2022, 10:27 PM
I don't hear the turnpike at all in the Hawkins.

Djean1981
01-28-2022, 10:44 PM
True. Out of curiosity, I checked out homes outside of The Villages. They are almost as expensive. However they have much larger lots.

Nick B
01-29-2022, 06:24 AM
Too late I believe the eye is lost.

Worldseries27
01-29-2022, 06:27 AM
i don't hear the turnpike at all in the hawkins.
nor i in st catherine's.
This is how the stampede starts

Luggage
01-29-2022, 06:28 AM
If someone doesn't like another person's opinion that doesn't mean they have to read it. Life is not perfect in The villages and it's quite obvious from all the complaints

Rwirish
01-29-2022, 06:40 AM
No the prices are not real. They are just made up.

Normal
01-29-2022, 06:44 AM
There isn’t really a bubble. Inflation has hit everything hard, but the housing market should slow down to a little less than 10 percent this year. Interest rates will go up and price some buyers out. If you are looking for some kind of bubble “pop” don’t hold your breath. The banks and markets loans are a lot more secure this time around.

G.R.I.T.S.
01-29-2022, 06:54 AM
I am surprised at how few homes are for sale between Lake Sumter Landing and Pinellas. That's a pretty highly sought after area, due to proximity to LSL, Brownwood, many executive and championship courses.
There just isn't much to be had there.

I know. We live there. Jasmine just went on the market yesterday. Villages listing. Won’t last.

G.R.I.T.S.
01-29-2022, 06:57 AM
Jasmine on Blythewood Loop listed yesterday.

G.R.I.T.S.
01-29-2022, 07:04 AM
Demand is increasing a lot.
Supply in increasing a little.
Driving more developments just outside our bubble. Wildwood is building up fast.

However these higher sales prices should help reduce the tax burden for us that remain in our humble abodes.

I'm in Sumter, so assuming the land baron developer of the villages doesn't succeed with the deceitful plan to impose increased tax burden to existing homeowners for future development (impact fees), shouldn't I assume that my tax bill will go down?

Let's assume the population increases by 3701 people this year....that's just over 2.6%. Then let's assume that costs to run the county go up by 7% this year (LGB affect).
There aren't many children vs population so funding of schools shouldn't increase too much..
So maybe the county costs go up by 8.5%. Maybe less since they are cost cutting (Village annex closed).

Each homeowner burden is based on the assessed value of their home (real value is determined at a sale / assessed value increases are capped / but can be reduced during downturns by the action of the county assessor)
Since 1995 the assess value can increase no more than the CPI or 3% whichever is lower, assuming no major upgrades.

Now...due to the huge cost (value) increases for homes sold recently, the revenue to the county from the new homeowners will be substantially higher.
Seems intuitively obvious that my meager dwelling should bear a lesser burden thanks to the influx of the increased revenue.

https://floridarevenue.com/property/Documents/pt107.pdf

County Millage Rate Information | Sumter County, FL - Official Website (https://www.sumtercountyfl.gov/865/County-Millage-Rate-Information)

sumter county population increase 2020 to 2021 - Google Search (https://www.google.com/search?q=sumter+county+population+increase+2020+to +2021&rlz=1C1JZAP_enUS685US725&oq=sumter+county+population+increase+2020+to+2021&aqs=chrome..69i57.21215j0j7&sourceid=chrome&ie=UTF-8)

http://https://www.**************.com/2019/09/24/huge-crowd-attends-final-sumter-county-hearing-on-25-percent-tax-hike/

Yes, success sucks…UNLESS it’s you.🙄

Nucky
01-29-2022, 07:16 AM
Come on man, it is all funny money. I just sold a 3 year old car to the DEALER for $4,000 more than my out the door price.

Is the profit taxable?

dewilson58
01-29-2022, 07:21 AM
Is the profit taxable?

If the car was used for business and depreciated for tax purposes.

:)

dewilson58
01-29-2022, 07:23 AM
Life is not perfect in The villages

Is to.
Is not.
Is to.
Is not.
Is to.
Is not.
Is to.
Is not.
Is to.
Is not.
Is to.
Is not.

:ohdear::ohdear:

Bilyclub
01-29-2022, 07:35 AM
Is to.
Is not.
Is to.
Is not.
Is to.
Is not.
Is to.
Is not.
Is to.
Is not.
Is to.
Is not.

:ohdear::ohdear:


Yes Mr Wilson, or is it Wilson W Wilson Jr. or Wilson the volleyball ? I'm going with the volleyball.

rsmurano
01-29-2022, 07:52 AM
Have you been south of 44 in the last 2 years? Buyers aren’t dwindling. TV had a banner sales year last year and if you see the opening days of new villages, 80% of the homes are already sold before the village opens. Until the migration from NY, NJ, California, and other states stops coming to Florida, we will keep seeing these prices increase.

MDLNB
01-29-2022, 07:55 AM
Wait for the bubble to burst and you should see better prices. Can't promise that, but this inflation can't last more than three more years. Then, EVERYTHING should get back to normal. Maybe then home prices will drop back to reasonable prices. But, as long as there are those that will pay the price.......... Hopefully, this time folks will be more responsible and not walk away from their obligations once this bubble bursts and mortgages are under water again.

Bay Kid
01-29-2022, 08:01 AM
Is the profit taxable?

Sure is.... I had it in a company name, so I'll be taxed on the profit and depreciation. I'm the money will be put to good use?

Babubhat
01-29-2022, 08:12 AM
Housing still less than the Coasts. Lesser taxation, more freedom, better weather. Pretty simple equation

OhioBuckeye
01-29-2022, 08:14 AM
There’s a saying, If you don’t like where you are, move. You’re not a tree!

OhioBuckeye
01-29-2022, 08:21 AM
Yes, success sucks…UNLESS it’s you.🙄

If you don’t like it where you are, move, you’re not a tree!

Queenie504
01-29-2022, 08:26 AM
So, what's your point? We can all see prices are rising.

Djean1981
01-29-2022, 09:20 AM
I feel bad for the current buyers. The homes are very overpriced
because of current circumstances. Most are nice but standard/modest homes on a micro lot in very dense neighborhoods with very narrow streets. Many, bought here because of the lifestyle, not specifically, the house (our cottage house is very nice, but we paid far less for it 15 months ago). Prices are high because of current supply shortages, many people flocking to Florida, etc. If/when the prices fall, some may be very upsidedown on their mortgage. But, maybe a lot of people are paying cash..?

jrref
01-29-2022, 09:40 AM
Just don't forget with the pandemic everything has changed. There are many who can now work from home and instead of living in the expensive NE or cold areas of the country they can live here in Florida. I don't expect demand and pricing to decrease anytime soon but i do expect a leveling off at some point.

Djean1981
01-29-2022, 09:52 AM
Good point. Some could be making New York wages but live in The Villages.

GPFan47
01-29-2022, 10:10 AM
I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.

Every day in the U.S., 10,000 people turn 65, and the number of older adults will more than double over the next several decades to top 88 million people and represent over 20 percent of the population by 2050.

United States | arc.aarpinternational.org (https://arc.aarpinternational.org/countries/united-states#:~:text=Every%20day%20in%20the%20U.S.,of%20 the%20population%20by%202050).

That's a lot of seniors competing for homes in retirement communities.

mrf0151
01-29-2022, 10:13 AM
Values have increased over time just like the stock market. Sure, there are dips, but history shows you better move here now or pay more later. No, I am not a realtor, just a 19 year Villager that purchased our first 1500 Sq foot home here in TV for $124,000.00 and bought a second for $155,000. Don't snooze.

Laker14
01-29-2022, 10:19 AM
We closed almost a year ago in Poinciana. While Poinciana wasn't specifically the village we wanted, it was among the areas considered. We wanted to be between the "6s", preferably near or inside the Bailey Trail-Odell Circle loop. It fit the bill. We were nervous. We still have a lake house in NY. If we hadn't done it when we did, with the escalation in prices that has occurred since we bought, I don't think we'd be comfortable doing it now. Not because the houses are "overpriced", whatever that means, just that the increase in expenses in the monthly budget might have dissuades us altogether.
We feel very fortunate we did it when we did it. Just blind dumb luck.
However, who is to say for sure that if you pulled the trigger in this market, in 5 years you wouldn't feel the same way?
A smart uncle told me years ago not to buy a 2nd home if success relied upon a rosy prediction of price appreciation, but rather to look at what you wanted, what you could afford comfortably, and if you could survive a downturn. I think that advice still applies in this market.

CountryFox
01-29-2022, 10:24 AM
If you can wait until April/May. Prices in high season always seem to go up, then right size over the summer.

Sandyloucita
01-29-2022, 11:25 AM
You’re competing with a massive wave of new buyers from NY & California. Low inventory & high demand.

xcaligirl
01-29-2022, 11:26 AM
I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.
old homes?? what about the new homes? Off the charts!!

Tvflguy
01-29-2022, 12:03 PM
Sometimes I ponder if there will be an inevitable crash or severe drop in TV home prices. I’d guess that the supply/demand matter will limit any serious cracks for a long time.

dewilson58
01-29-2022, 12:19 PM
I feel bad for the current buyers. The homes are very overpriced because of current circumstances.

Don't feel bad, that's what we said about you when you purchased below 44.
:a040::a040::a040:

SHIBUMI
01-29-2022, 12:20 PM
We have lost sight of the value of the villages.......it has been undervalued for so long...don't value the house, value the environment, plenty to do, a lot of sunshine,
happy people, and most importantly its a safe place, priceless. No where in the country
do all of these things exist, nowhere. The houses inside of Disney, a safe place with lots to do, cost 3-8 million, hmmm, if you are lucky enough to get in, you are blessed, it ain't totally about the money.....buy what you can afford to enjoy the only place like this in America.

Geodyssey
01-29-2022, 12:33 PM
I guess you missed this post. Definitely not Canadian.

Owner's Name PAN AMERICAN PROPERTIES INC
Site Address 5746 LANDON AVE, THE VILLAGES, FL 32163
Mail Address 17 UNION RD RTE 221, C1E 3B2, FC

It's a Canadian company. A quick search on the (obviously Canadian) address leads to:
APM MacLean – Offering 95 Years of Combined Experience | PEI (https://www.apmmaclean.ca/)

Laker14
01-29-2022, 02:37 PM
We have lost sight of the value of the villages.......it has been undervalued for so long...don't value the house, value the environment, plenty to do, a lot of sunshine,
happy people, and most importantly its a safe place, priceless. No where in the country
do all of these things exist, nowhere. The houses inside of Disney, a safe place with lots to do, cost 3-8 million, hmmm, if you are lucky enough to get in, you are blessed, it ain't totally about the money.....buy what you can afford to enjoy the only place like this in America.

What??

Babubhat
01-29-2022, 02:49 PM
The price is irrelevant if you plan on holding until you expire

Catalina36
01-29-2022, 04:32 PM
You must be looking at a Gardenia model. Location and timing is everything. In addition, you have to look at the extra’s. Some houses have more then others. The baby boomers are retiring and The Villages has it all. It’s all about supply and demand. Yes I agree $345 to $700 in a year is a little much. Sounds like the people don’t want to sell unless they get a crazy offer. The homes have gone up an average of 40% to 45%.
Best of luck, I think The Villages is a great place to live.

Catalina36
01-29-2022, 04:34 PM
Oh yes and don’t forget your not just buying a home. Your buying a Life Style.

vintageogauge
01-29-2022, 04:58 PM
If you can wait until April/May. Prices in high season always seem to go up, then right size over the summer.

We thought that when we bought in May of 2017 but found that the year before there were more homes sold here in both May and July than any other month of the year. We were very fortunate to get in on the ground floor south of 44 when the real bargains were available.

Viperguy
01-30-2022, 07:20 AM
Check some listings in the Bay Area of CA. Now they are unreal. Market forces

rustyp
01-30-2022, 07:44 AM
Oh yes and don’t forget your not just buying a home. Your buying a Life Style.

And as a bonus double taxes will be included with your home's new assessment.

OhioBuckeye
01-30-2022, 09:31 AM
That’s right, what’s the point. Buy somewhere where you can afford. They sound like they want to live in a well to do neighborhood on a very minimal wage! So don’t move to TV.

CoachKandSportsguy
01-30-2022, 09:32 AM
Asset inflation, everywhere, which is much different than consumables living CPI inflation, is everywhere. In the chart below, you will see that the liquidity from the FED has pushed assets to redonkulous levels, housing prices are not CPI, but owners equivalent rent is, so there will be increases in CPI but that will level off as well and fall back to near normal records. .

The interest rate increases will change this asset valuation levels, so for those looking, best to just wait, as the prices will return to about the 2019 ending levels, there about. . just have your cash ready and please have patience. . . check on your FOMO, (Fear Of Missing Out) you haven't in any way, just wait.

Chart is price to sales ratio of SP500 historical ratio. . . truest measure of valuation as revenue is most scrutinized for fraud.

rustyp
01-30-2022, 09:42 AM
Asset inflation, everywhere, which is much different than consumables living CPI inflation, is everywhere. In the chart below, you will see that the liquidity from the FED has pushed assets to redonkulous levels, housing prices are not CPI, but owners equivalent rent is, so there will be increases in CPI but that will level off as well and fall back to near normal records. .

The interest rate increases will change this asset valuation levels, so for those looking, best to just wait, as the prices will return to about the 2019 ending levels, there about. . just have your cash ready and please have patience. . . check on your FOMO, (Fear Of Missing Out) you haven't in any way, just wait.

Chart is price to sales ratio of SP500 historical ratio. . . truest measure of valuation as revenue is most scrutinized for fraud.

This makes sense to me. What I see is rapid asset inflation not wage inflation. Hopefully a housing crash does come. If not we will have a whole generation of people that won't be able to afford to buy a house. That will cause unrest. If a new home is in your near future then:
- Don't sell high and buy high now
- Don't sit and do nothing (your present house value will also go down)
- Sell now and rent (anywhere) until the crash comes then buy

CoachKandSportsguy
01-30-2022, 09:55 AM
:a040: :a040:

This makes sense to me. If it does to you and a new home is in your near future then:
- Don't sell high and buy high now
- Don't sit and do nothing (your present house value will also go down)
- Sell now and rent (anywhere) until the crash comes then buy

:bigbow:

Correct!
:mademyday:

You can't buy a house low without selling your current house high first!

The typical response is to hold onto high prices but investing being counter intuitive, you have to sell high prices in order to afford low prices later. . . of course there is effort to do so, some inconvenience, and the people in the villages with the high asking prices are properly following the rule above.

finance guy

MX rider
01-30-2022, 11:22 AM
This makes sense to me. What I see is rapid asset inflation not wage inflation. Hopefully a housing crash does come. If not we will have a whole generation of people that won't be able to afford to buy a house. That will cause unrest. If a new home is in your near future then:
- Don't sell high and buy high now
- Don't sit and do nothing (your present house value will also go down)
- Sell now and rent (anywhere) until the crash comes then buy

I don't see a "crash" coming anytime soon. The current real estate market is nothing like 2008. Will it level off at some point or even back down a bit? Yes. But right now demand far out paces supply, and not just in Florida.
And even though interest rates will go up some, I don't see going from 3% to even as high as 4.5% being much of a deterrent. That's still historically low.

Waitng out the market has it's own downside. Who knows when it will cool off? What if it's 5 years? That's a crapshoot in itself. In the meantime we'd be putting off our dream, and that's something we don't want to do.

Even though my wife and I are very fit and healthy, who knows what tomorrow brings. Everyday is a gift for us. So we went a ahead bought a place. You can argue whether it's a good move or not until the cows come home. Everyone's life situation is different, and nobody truly knows what will happen tomorrow.

We have many more years behind us than ahead of us. So we live accordingly. Worrying about whether our home in TV will appreciate or depriciate is something we could care less about at this point. For us it's about enjoying the years we have left. Our kids can deal with our home when we're gone. I'm sure they'll come out just fine.

All that said, it's just my opinion. lol

Babubhat
01-30-2022, 11:27 AM
Unless you have something special it doesn’t matter. Most houses will go up and down lockstep with the others. The price of your last house is irrelevant if you stay to your expiration

BlueStarAirlines
01-31-2022, 07:35 AM
If a new home is in your near future then:
- Don't sell high and buy high now
- Don't sit and do nothing (your present house value will also go down)
- Sell now and rent (anywhere) until the crash comes then buy

This is exactly what we did. We sold at the peak when there was a frenzy. House had some big ticket repairs/replacements coming in the next year or so and buyers waived all inspections. Crazy! We took the money and got a two year lease on a rental in TV. We're looking to buy our home, but are in no rush.

CoachKandSportsguy
01-31-2022, 08:45 AM
This is exactly what we did. We sold at the peak when there was a frenzy. House had some big ticket repairs/replacements coming in the next year or so and buyers waived all inspections. Crazy! We took the money and got a two year lease on a rental in TV. We're looking to buy our home, but are in no rush.

:bigbow:

:clap2:

that's the way to do it. . we thought about it, but want to experience TV full time first. . getting closer

DAVES
01-31-2022, 09:58 AM
Asset inflation, everywhere, which is much different than consumables living CPI inflation, is everywhere. In the chart below, you will see that the liquidity from the FED has pushed assets to redonkulous levels, housing prices are not CPI, but owners equivalent rent is, so there will be increases in CPI but that will level off as well and fall back to near normal records. .

The interest rate increases will change this asset valuation levels, so for those looking, best to just wait, as the prices will return to about the 2019 ending levels, there about. . just have your cash ready and please have patience. . . check on your FOMO, (Fear Of Missing Out) you haven't in any way, just wait.

Chart is price to sales ratio of SP500 historical ratio. . . truest measure of valuation as revenue is most scrutinized for fraud.

Interesting BUT.......... When to buy and when to sell THAT IS THE QUESTION.
The S&P year to date has fallen nine percent. The Russell 2000 has fallen 14% year to date. The CPI consumer price index has hit 8%. Assuming you are AVERAGE and lost 9% in the market. We ALL are paying 8% more for goods some of which we can decide not to buy at this price others like food and gasoline will get painful for those who cannot afford to pay more, NET loss not sure how the math works is it 9 plus 14 average 9+14=23 divided by 2= 11.5%. No it is not as the same stocks are in both indexes. So using the S&P as average normal and CPI as average effect on all it is like anything else FUZZY MATH 9+8%=9.72% lost. In REAL MONEY almost 10% has DISAPPEARD.

rustyp
01-31-2022, 10:07 AM
Interesting BUT.......... When to buy and when to sell THAT IS THE QUESTION.
The S&P year to date has fallen nine percent. The Russell 2000 has fallen 14% year to date. The CPI consumer price index has hit 8%. Assuming you are AVERAGE and lost 9% in the market. We ALL are paying 8% more for goods some of which we can decide not to buy at this price others like food and gasoline will get painful for those who cannot afford to pay more, NET loss not sure how the math works is it 9 plus 14 average 9+14=23 divided by 2= 11.5%. No it is not as the same stocks are in both indexes. So using the S&P as average normal and CPI as average effect on all it is like anything else FUZZY MATH 9+8%=9.72% lost. In REAL MONEY almost 10% has DISAPPEARD.

However only 55%of Americans are invested in the stock market. Just a hunch retirees are invested much higher in bonds than equities thus the "AVERAGE" of 9% bis not accurate across the entire population. The fuzzy math needs to get fuzzier.

DAVES
01-31-2022, 10:15 AM
This makes sense to me. What I see is rapid asset inflation not wage inflation. Hopefully a housing crash does come. If not we will have a whole generation of people that won't be able to afford to buy a house. That will cause unrest. If a new home is in your near future then:
- Don't sell high and buy high now
- Don't sit and do nothing (your present house value will also go down)
- Sell now and rent (anywhere) until the crash comes then buy

HUH? Sell now and buy later? Then, rather than betting on the stock market and real estate, you are betting on the fiat dollar which I read somewhere or other has lost 12% this past year. Oh and add to that you will likely pay TAX on what you sell.

Everyone has their own financial reality. For those who own a home and want to sell it and buy in the villages, the home they own is also INFLATED in value so it is a wash or partial wash.

As far as people not being able to buy homes. Under CAPITALISM, if people can't afford to pay the price the price will either drop or the goods will not be produced.

Turn up the violin music. When first married I owed 13,000 in college loans. In today's dollars that is roughly 7x so 91,000. We lived in a dive and I worked 6 and 7 days a week. I PAID MY LOAN. We SAVED money to buy a home. A truly strange concept for many. We need to live and be happy with what is not with what we think should be.
Should be is a moving target and thus will never be.

CoachKandSportsguy
01-31-2022, 10:44 AM
Interesting BUT.......... When to buy and when to sell THAT IS THE QUESTION.
The S&P year to date has fallen nine percent. The Russell 2000 has fallen 14% year to date. The CPI consumer price index has hit 8%. Assuming you are AVERAGE and lost 9% in the market. We ALL are paying 8% more for goods some of which we can decide not to buy at this price others like food and gasoline will get painful for those who cannot afford to pay more, NET loss not sure how the math works is it 9 plus 14 average 9+14=23 divided by 2= 11.5%. No it is not as the same stocks are in both indexes. So using the S&P as average normal and CPI as average effect on all it is like anything else FUZZY MATH 9+8%=9.72% lost. In REAL MONEY almost 10% has DISAPPEARD.

CPI isn't asset inflation. . .
apples and oranges

nothing to do with this point to be perfectly blunt

rustyp
01-31-2022, 10:47 AM
HUH? Sell now and buy later? Then, rather than betting on the stock market and real estate, you are betting on the fiat dollar which I read somewhere or other has lost 12% this past year. Oh and add to that you will likely pay TAX on what you sell.

Everyone has their own financial reality. For those who own a home and want to sell it and buy in the villages, the home they own is also INFLATED in value so it is a wash or partial wash.

As far as people not being able to buy homes. Under CAPITALISM, if people can't afford to pay the price the price will either drop or the goods will not be produced.

Turn up the violin music. When first married I owed 13,000 in college loans. In today's dollars that is roughly 7x so 91,000. We lived in a dive and I worked 6 and 7 days a week. I PAID MY LOAN. We SAVED money to buy a home. A truly strange concept for many. We need to live and be happy with what is not with what we think should be.
Should be is a moving target and thus will never be.

Some on this site are saying TV housing has appreciated as much 100% in a year. Certainly the dollar has not deflated by 50%.

Footnote - today's stock market was invented in Amsterdam in 1611. The first commodity bubble was tulips. Owning tulips bulbs was a status symbol for the rich and famous. The demand for bulbs went crazy. Investors buying and selling without ever taking procession of a tulip bulb. One particular kind of bulb sold $76000. In 1630 people started to loose interest in tulip bulbs plus the horticulturists were developing bulbs as fast as possible (increase supply). In 1630 it took a mere 6 weeks for the tulip market to crash and loose 90%. Suddenly tulips were no longer accepted as a financial instrument.

So why the story - I'm tired of these 10 cent millionaires here in TV brag about the value of their IRIS, GARDENIA, Etc. It is meaningless and like tulips they don't take houses in the supermarket in exchange for food.

DAVES
01-31-2022, 10:48 AM
However only 55%of Americans are invested in the stock market. Just a hunch retirees are invested much higher in bonds than equities thus the "AVERAGE" of 9% bis not accurate across the entire population. The fuzzy math needs to get fuzzier.

We LIVE by the choices WE make. As far as bonds, in the old days people would could build a treasury bond ladder. Treasuries were secure and paid the rate of inflation plus 2%. You paid federal tax on the interest so you had zero risk and were mostly even after paying the federal tax. Those days, that option does not exist for us. CPI is 8% treasuries are paying. last time I looked 1.7% and that is before TAX

Everyone's finances are different. Truth, REALITY, many do not understand what they have, what they need and their level of risk. Average? You can look up the national debt clock. TRUTH I need to collect my courage to look. As I recall the average American has 10,000 in savings and owes 85,000. That is actually OLD, As stated I've not look in along time. People in the Villages are not AVERAGE.

As far as BONDS. A bond fund that pays more than, normal investment grade bonds,
is invested in some lower grade bonds, some bond that mature in 100 years and are leveraged-they borrow against bonds they hold to buy more bonds. Far more risk than many realize they have taken on.

As said, we live with the choices we have made. Sale of a stock, a bond, a home etc, you are buying it from someone who has chosen to sell it. The Villages started as a trailer park. Homes are now selling on a regular basis for half a million. No one is right all the time. You increase your money, your wealth by being right more often than being wrong.

CoachKandSportsguy
01-31-2022, 10:49 AM
HUH? Sell now and buy later? Then, rather than betting on the stock market and real estate, you are betting on the fiat dollar which I read somewhere or other has lost 12% this past year. Oh and add to that you will likely pay TAX on what you sell.

Everyone has their own financial reality. For those who own a home and want to sell it and buy in the villages, the home they own is also INFLATED in value so it is a wash or partial wash.

As far as people not being able to buy homes. Under CAPITALISM, if people can't afford to pay the price the price will either drop or the goods will not be produced.

Turn up the violin music. When first married I owed 13,000 in college loans. In today's dollars that is roughly 7x so 91,000. We lived in a dive and I worked 6 and 7 days a week. I PAID MY LOAN. We SAVED money to buy a home. A truly strange concept for many. We need to live and be happy with what is not with what we think should be.
Should be is a moving target and thus will never be.

So tell these nice people that they don't know what they are doing.
https://www.talkofthevillages.com/forums/2055398-post145.html

There are people who can manage the scenario quite nicely, pocketing the excess premium and sitting and waiting for better prices. .

your history is irrelevant to the point of excessively high valuation currently

rufflesmom
02-08-2022, 02:21 PM
Yes, and then the bottom fell out in 2008. People walked away from their homes because they now were worth less than what they purchased it for. I couldn’t believe that wouldn’t just wait until the market came back around, which it always did. I bought in 2000 because the prices were going up so fast. I couldn’t afford to pay any higher so I took the plunge and sold my condo and bought a single family again. That was up north.

Tripngirl
02-08-2022, 04:50 PM
It's not just here the prices going beyond what we thought was possible....Cape Cod(MA.) is seeing the same thing.....something purchased in 2019 and add $200K to the price and not because someone added a pool or even painted a room....just what is happening. In the case of Cape Cod prices had always been lower than other towns nearer Boston.....maybe it was time for them to catch up....another place to retire to....opps....not so much now.

manaboutown
02-08-2022, 06:10 PM
Yes, and then the bottom fell out in 2008. People walked away from their homes because they now were worth less than what they purchased it for. I couldn’t believe that wouldn’t just wait until the market came back around, which it always did. I bought in 2000 because the prices were going up so fast. I couldn’t afford to pay any higher so I took the plunge and sold my condo and bought a single family again. That was up north.

During the housing bubble burst starting in 2006 I was living in Newport Beach, CA and driving a Porsche. The same dealer also sold and serviced Bentleys. I remember taking my vehicle in for service and seeing a dozen or more Bentley convertibles sitting out front in their overflowing lot. Although I had noticed one or two Bentley convertibles in the lot before there had never been nearly this many. I asked my service manager why there were so many. He said "Oh, those are the mortgage brokers' cars." Mortgage brokers back then in CA were raking in hundreds of thousands of dollars per year and of course their income dried up so they were forced to turn in their leased Bentleys. lol

In October 2009 I first visited The Villages. Prices had come down some off their peak. I heard tales about how a few years before The Villages had set up a couple of tents to accommodate all the prospective buyers as a feeding frenzy was on. If this source is correct TV sold 4,263 new homes in 2005. That translates to almost 12 house a day, a new house every 2 hours 24/7. The Villages New Home Sales: 2003-Present | Inside The Bubble (https://www.insidethebubble.net/new-home-sales/)

JMintzer
02-08-2022, 06:52 PM
Yes, and then the bottom fell out in 2008. People walked away from their homes because they now were worth less than what they purchased it for. I couldn’t believe that wouldn’t just wait until the market came back around, which it always did. I bought in 2000 because the prices were going up so fast. I couldn’t afford to pay any higher so I took the plunge and sold my condo and bought a single family again. That was up north.

That was due to the "sub-prime" mortgage fiasco. People with zero credit history were being given mortgages and when prices went up, they took the equity out of their homes and were SHOCKED when they couldn't pay it back...

Most people who were simply "under water" just waited it out, paid their mortgage and were fine...

JMintzer
02-08-2022, 06:55 PM
During the housing bubble burst starting in 2006 I was living in Newport Beach, CA and driving a Porsche. The same dealer also sold and serviced Bentleys. I remember taking my vehicle in for service and seeing a dozen or more Bentley convertibles sitting out front in their overflowing lot. Although I had noticed one or two Bentley convertibles in the lot before there had never been nearly this many. I asked my service manager why there were so many. He said "Oh, those are the mortgage brokers' cars." Mortgage brokers back then in CA were raking in hundreds of thousands of dollars per year and of course their income dried up so they were forced to turn in their leased Bentleys. lol

In October 2009 I first visited The Villages. Prices had come down some off their peak. I heard tales about how a few years before The Villages had set up a couple of tents to accommodate all the prospective buyers as a feeding frenzy was on. If I this source is correct TV sold 4,263 new homes in 2005. That translates to almost 12 house a day, a new house every 2 hours 24/7. The Villages New Home Sales: 2003-Present | Inside The Bubble (https://www.insidethebubble.net/new-home-sales/)

15-16 years ago was also the beginning of the huge wave of "Baby Boomer" retirements...

Velvet
02-08-2022, 06:55 PM
Some on this site are saying TV housing has appreciated as much 100% in a year. Certainly the dollar has not deflated by 50%.

Footnote - today's stock market was invented in Amsterdam in 1611. The first commodity bubble was tulips. Owning tulips bulbs was a status symbol for the rich and famous. The demand for bulbs went crazy. Investors buying and selling without ever taking procession of a tulip bulb. One particular kind of bulb sold $76000. In 1630 people started to loose interest in tulip bulbs plus the horticulturists were developing bulbs as fast as possible (increase supply). In 1630 it took a mere 6 weeks for the tulip market to crash and loose 90%. Suddenly tulips were no longer accepted as a financial instrument.

So why the story - I'm tired of these 10 cent millionaires here in TV brag about the value of their IRIS, GARDENIA, Etc. It is meaningless and like tulips they don't take houses in the supermarket in exchange for food.

Some houses have appreciated almost 100% in the last few years. That is how much I was offered for my house, but it is a moot point as I don’t plan to sell for some time. Your house is worth what people are willing to pay for it.

Rainger99
02-09-2022, 08:39 PM
They lowered the price to $688,500.

RPDaly
02-09-2022, 08:58 PM
Many 2/2 Courtyard Villas esp. south of 466 are going for the high $300's lately! A 3/2 CV just went pending at around $700K in Amberjack.

RPDaly
02-09-2022, 09:03 PM
And as a bonus double taxes will be included with your home's new assessment.

The millage rate will be adjusted if assessments go up just as back North. - I hope

Pballer
02-10-2022, 04:22 AM
Once the rampant speculation ends, and the collapse and taxpayer bailouts come, the Federal Reserve will once again say that no one could have possibly seen it coming, and its endless stream of cheap money was not at fault.

Pballer
02-10-2022, 04:33 AM
The millage rate will be adjusted if assessments go up just as back North. - I hope

The shifting of the tax burden from Florida residents to snow birds will accelerate because the assessed value of a Florida resident's home can only increase by a maximum of 3 percent per year while the sky is the limit for a snow bird's home.

Laker14
02-10-2022, 05:31 AM
The shifting of the tax burden from Florida residents to snow birds will accelerate because the assessed value of a Florida resident's home can only increase by a maximum of 3 percent per year while the sky is the limit for a snow bird's home.

That depends upon your definition of "snowbird".. a resident of Florida can spend a lot of time out of state, and maintain their residency, and hence, get the benefit of homestead exemptions.

Pballer
02-10-2022, 11:46 AM
That depends upon your definition of "snowbird".. a resident of Florida can spend a lot of time out of state, and maintain their residency, and hence, get the benefit of homestead exemptions.

Change "snowbird" to "non-Florida resident". The big prize is not the homestead exemption: the big prize is that your assessed value cannot increase more than the CPI or 3 percent per year whichever is less.

Rainger99
02-10-2022, 01:20 PM
The shifting of the tax burden from Florida residents to snow birds will accelerate because the assessed value of a Florida resident's home can only increase by a maximum of 3 percent per year while the sky is the limit for a snow bird's home.

I thought that the increase in assessed value for non-residents is limited to 10%.

Non-Homestead Cap (https://www.pcpao.org/NonHomesteadCap.html)

vintageogauge
02-10-2022, 01:34 PM
That depends upon your definition of "snowbird".. a resident of Florida can spend a lot of time out of state, and maintain their residency, and hence, get the benefit of homestead exemptions.

And they would then lose their exemption up north where taxes are generally much higher.

Rainger99
02-10-2022, 04:28 PM
And they would then lose their exemption up north where taxes are generally much higher.

They are much higher - no generally about it!!

Bilyclub
02-11-2022, 08:39 AM
And they would then lose their exemption up north where taxes are generally much higher.

In theory that's the way it's supposed to work, but I know a few who have gamed the system.

Laker14
02-12-2022, 05:10 AM
Change "snowbird" to "non-Florida resident". The big prize is not the homestead exemption: the big prize is that your assessed value cannot increase more than the CPI or 3 percent per year whichever is less.

correct. We bought in 2021, and changed our residence in February of 2021 from NY to FL. As we tried to predict how our new home would affect our finances, I spent some time studying the way the tax assessments work.
Our previous owner (we bought a pre-owned home, build in 2006, from the original owner) had years of homestead control on the taxable assessment. I knew that would be reset with our purchase.

Fast-forward to late summer when I got the tax notice and I was pleasantly surprised that it wasn't higher. Then, I thought it through a bit further and realized that the assessment was done before we bought the house, and remembered that taxes are payed "in arrears", so the previous owner's assessment and homestead preferences applied for my first tax bill.
I will get the big hit with my next tax bill, when all of her years of homestead valuation go away, plus the effect of the recent run-up gets factored in. Really looking forward to that.

Normal
02-12-2022, 08:35 AM
Prices are going up again. When you look at The Villages website now, designer homes averaging 1950 square feet are hovering at about 500 without a view. View lots on the Chitty Chatty, ponds, golf courses are jacked up to about 700. Turning to St. John’s and Richmond and the turnpike I’m getting the vibe of another 5% increase. I don’t see prices abating in the near future for sure.

Stu from NYC
02-12-2022, 09:18 AM
Prices are going up again. When you look at The Villages website now, designer homes averaging 1950 square feet are hovering at about 500 without a view. View lots on the Chitty Chatty, ponds, golf courses are jacked up to about 700. Turning to St. John’s and Richmond and the turnpike I’m getting the vibe of another 5% increase. I don’t see prices abating in the near future for sure.

You could well be right but at some point interest rates have to go up and that will not be a good thing for the real estate market. Besides no asset goes up forever without a correction at some point.

Normal
02-12-2022, 02:49 PM
You could well be right but at some point interest rates have to go up and that will not be a good thing for the real estate market. Besides no asset goes up forever without a correction at some point.
They may go up soon, but what is a 1/2 point when there is no inventory and many are contemplating paying cash anyway? It won’t effect anything around here.

manaboutown
02-12-2022, 02:54 PM
You could well be right but at some point interest rates have to go up and that will not be a good thing for the real estate market. Besides no asset goes up forever without a correction at some point.

The prime rate reached 21.5% on December 19, 1980. The rate of inflation is currently the highest it has been in 40 years and it is just getting started. Who know what the future holds.

Stu from NYC
02-12-2022, 04:45 PM
They may go up soon, but what is a 1/2 point when there is no inventory and many are contemplating paying cash anyway? It won’t effect anything around here.

If it only goes up 1/2 pt no big deal but if rates go up by several points than watch out.

Besides when a smaller designer house goes for a half million customer will be priced out of the market.

rustyp
02-12-2022, 04:50 PM
You could well be right but at some point interest rates have to go up and that will not be a good thing for the real estate market. Besides no asset goes up forever without a correction at some point.


It takes a while to blow up a balloon but when it punctures it deflates in a hurry.

Laker14
02-12-2022, 05:22 PM
And they would then lose their exemption up north where taxes are generally much higher.

Not necessarily. In NY where I was a resident, and still own property, (but am not employed, nor do I own a business), the issue is how many days I spend in NY. More than 180 (or 181, I can't remember) and I have to pay taxes on my IRA withdrawals.
However, it is not tied at all to how many days I spend in my new state of Florida.
I can spend 5 months in NY, and 3 months somewhere else, and only 4 months in Florida, and still claim Florida residency for my homestead, and not pay NY income tax.

Hence, I would still be a "snowbird" and still get the advantages of homesteading, and not pay NY income tax.

Rainger99
05-13-2022, 09:19 PM
5746 Landon Ave, sold April 2021 346K listed at 697,500 now, they may have added a pool, but still a 101% increase in 9 months. The crazy thing about it is, that it will probably sell in 15 minutes.

It is listed at $649,000 today.

jrref
05-14-2022, 07:26 AM
And then we had the bubble BURST and home prices dropped drastically. Wouldn't suggest that people buy in this market as an investment to flip with the previous market that happened....

I really don't think this will happen as dramatically as it's happened in the past Because everyone keeps forgetting about the Pandemic. Now many people close to retirement are able to work remotely so many are buying thier retirement homes, working then retiring in place. It's going to be a long time till this changes.

Also the developer is building like crazy. Whether i like them or not they know what they are doing so at least they don't believe the housing market will slow down any time soon.

In addition, many are selling their homes up north for over inflated prices then just using that money to buy homes here at the same over inflated prices. It's a property swap. We bought our Ivy last June at a price that i felt was way too much. None of my neighbors wanted the house for the same reason. But we bought it because it had a lot of upgrades and was perfect for us. It also has a view and that's another feature that causes the home to be sold at a crazy price. Now almost a year later, the price we paid in my opinion was a bargain! The house now is worth a couple hundred thousand more than we paid for it. Many of my neighbors who wanted to buy my house as a upgrade are kicking themselves.

Bilyclub
05-14-2022, 12:01 PM
It is listed at $649,000 today.

Plus a $24,000 Bond. The Canadian owners must be getting a little nervous about the way things are going.

Timothyimitchell
05-17-2022, 12:03 PM
I think the average resale price for a 2/2 patio villa is now well over 300K. Now that is ridiculous.

MrFlorida
05-17-2022, 12:07 PM
Not only housing, look at the economy in general...everything is out of control.

Djean1981
05-17-2022, 12:16 PM
I think the average resale price for a 2/2 patio villa is now well over 300K. Now that is ridiculous.
With vinyl siding..

Nucky
05-17-2022, 12:31 PM
A friend of ours paid $650K for a nice house in Rhode Island about 25 months ago. Listed it for $999K. First day 8 offers. Final sale $1,170,000. It was a nice house but gimme a break. two Doctors started bidding against each other. This deal included no inspections and no contingencies. Cashish! Nuts!

Stu from NYC
05-17-2022, 12:49 PM
A friend of ours paid $650K for a nice house in Rhode Island about 25 months ago. Listed it for $999K. First day 8 offers. Final sale $1,170,000. It was a nice house but gimme a break. two Doctors started bidding against each other. This deal included no inspections and no contingencies. Cashish! Nuts!

Totally out of control but the day of reckoning is coming nothing goes up forever.

manaboutown
05-17-2022, 01:02 PM
A friend of ours paid $650K for a nice house in Rhode Island about 25 months ago. Listed it for $999K. First day 8 offers. Final sale $1,170,000. It was a nice house but gimme a break. two Doctors started bidding against each other. This deal included no inspections and no contingencies. Cashish! Nuts!

Bet those two MDs had competitive histories, went head to head, and neither could stand the other getting the house! Your friend got lucky!

Timothyimitchell
05-17-2022, 01:52 PM
Not only housing, look at the economy in general...everything is out of control.

Our poor grand kids. They have no idea.

Babubhat
05-17-2022, 02:14 PM
Not for long. Everyday my neighborhood has more listings and no new sales. 2 sales didn’t close. Bet appraisal came up short

Madelaine Amee
05-17-2022, 02:29 PM
Our poor grandkids. They have no idea.

If your "poor grandkids" are educated and in the right business, they will earn more in a lifetime than you ever did. I have two granddaughters earning over six figures right now and they are not 25 yet.

davem4616
05-17-2022, 02:34 PM
the only thing constant in life is change...

vintageogauge
05-17-2022, 03:08 PM
Not for long. Everyday my neighborhood has more listings and no new sales. 2 sales didn’t close. Bet appraisal came up short

Wrong neighborhood, homes in our area are usually sold before the sign gets in the window and those that take a little longer either are on a bad lot or the owners are a little too greedy but they all eventually will sell.

MX rider
05-17-2022, 03:09 PM
the only thing constant in life is change...

100%

Normal
05-17-2022, 03:44 PM
Three went up on our street in April as spec homes. All were sold within minutes.

Normal
05-17-2022, 04:21 PM
Homefinder - The Villages(R) Homes and Villas for Sale (https://www.thevillages.com/homefinder/S79V.17?new&preowned&homesites&status&lng=-81.97950088991387&lat=28.791283623422178&lvl=9)




940 K…such a deal?

Not really

frose
05-17-2022, 04:52 PM
once interest rates go over 8% the price of home will tank.. give it another 2 or 3 months..

MX rider
05-17-2022, 07:14 PM
once interest rates go over 8% the price of home will tank.. give it another 2 or 3 months..

I don't think the market will "tank" as you say. It will cool off. But there's still a supply problem with lots of demand.

I think prices will start leveling off a bit. They can't can't continue to go up.

Rainger99
05-17-2022, 07:30 PM
Homefinder - The Villages(R) Homes and Villas for Sale (https://www.thevillages.com/homefinder/S79V.17?new&preowned&homesites&status&lng=-81.97950088991387&lat=28.791283623422178&lvl=9)




940 K…such a deal?

Not really

This one sold for $515,000 on December 17, 2020. But it is furnished!

ithos
05-18-2022, 04:47 AM
Just like the last economic downturn, The Villages will still be one of the best locations to own of home regarding property value. And the demand now by retirees is even stronger.

Timothyimitchell
05-18-2022, 06:49 AM
If your "poor grandkids" are educated and in the right business, they will earn more in a lifetime than you ever did. I have two granddaughters earning over six figures right now and they are not 25 yet.

Stay tuned.

Normal
05-18-2022, 09:23 AM
I don't think the market will "tank" as you say. It will cool off. But there's still a supply problem with lots of demand.

I think prices will start leveling off a bit. They can't can't continue to go up.

I concur, buyers are often cash buyers in The Villages so interest rates only encourage buying because of inflation/investment opportunity. I do see the prices abating somewhat though.

davem4616
05-18-2022, 10:17 AM
Just like the last economic downturn, The Villages will still be one of the best locations to own of home regarding property value. And the demand now by retirees is even stronger.


I agree....but the current prices are crazy

vintageogauge
05-18-2022, 10:26 AM
I concur, buyers are often cash buyers in The Villages so interest rates only encourage buying because of inflation/investment opportunity. I do see the prices abating somewhat though.

I don't think they are abating, at least not south of 44, patio villas without a garage are now over $300,000, 4-bedroom Ivy's and Woodside's now $1,000,000 plus without a pool and not on a golf course, interior lot Gardenias over $500,000, and all of these are selling quickly. Try to find a re-sale Patio Villa or Ivy or Woodside south of 44, you can count the number available on one hand, they are all sold or pending.

Bay Kid
05-19-2022, 08:29 AM
I agree....but the current prices are crazy

So is the price of gas, chicken, beef, etc. Thanks to our creator for making it all funny money.

Dr Winston O Boogie jr
05-19-2022, 08:47 AM
Like most things economic, it's all about supply and demand. The Villages can't keep up with the demand for new homes so people are willing pay high prices for whatever is available. In this case, it's pre owned homes.

Babubhat
05-19-2022, 09:19 AM
Million dollar plus homes most at risk. Realtor lockbox indicator and traffic way down. Interest rates and stock meltdown will fix prices

Miekies
05-19-2022, 09:59 AM
Insanity is the real estate commission. At 6% in April it was $20700. 9 months latter the same house commission is $42000. According to some sources people are standing in line to buy houses. The way I see it the real estate firm is doing less work and less advertising expenses at a minimum. Are the sellers really paying these (fill in the blank) kind of commissions ?

When we sold our house in Texas (Nov 2021), because we had bought here and closed Oct 30th.

We negotiated with our agent
Buyers agent 2.5%
Our agent 1.5%

We told her we wanted a bidding war, house went on market Friday we would not look at an offer until Tuesday. We had 9 offers and accepted the highest ($35,000 over asking and they paid all closing costs, no option period, as is and they pay a 100% if it didn't appraise for the sale amount.

She was a smart retailer and knew she'd make good money with minimal effort. No open houses or anything.

Always negotiate, especially in this market