Inventory of preowned homes going up ?

[twoplanekid]

I don’t have the data to say that preowned homes sales in the Villages have come to a slow down. However, there are now a lot more homes listed for sale on the Villages internet sales site. Has anyone else noticed this? A few homes that I have been tracking have also reduced their listing price. This situation is quite a change for just three months ago.

[jrref]

I believe that's what's happening for two reasons. First, this time of year inventory typically increases and Second, intrest rates have gone up so there are less people looking for homes, especially overpriced homes.

[ThirdOfFive]

I don’t have the data to say that preowned homes sales in the Villages have come to a slow down. However, there are now a lot more homes listed for sale on the Villages internet sales site. Has anyone else noticed this? A few homes that I have been tracking have also reduced their listing price. This situation is quite a change for just three months ago.
I agree. It is nothing to hear "price reduced" multiple times on properties advertised on WVLG.

Reality is setting in, I think.

[billethkid]

I agree. It is nothing to hear "price reduced" multiple times on properties advertised on WVLG.

Reality is setting in, I think.

Yes we are settling back to more normal stats.

[manaboutown]

Same thing in MLS listings, asking prices are being marked down.

[dewilson58]

Facts & Data would tell.

But what the hell, let's jus speculate.............it's more fun.

:a040:

[Stu from NYC]

Facts & Data would tell.

But what the hell, let's jus speculate.............it's more fun.

:a040:

When homes in my village take a month or more to sell compared to months ago sell within days that is a good indication the market has slowed.

[twoplanekid]

Facts & Data would tell.

But what the hell, let's jus speculate.............it's more fun.

:a040:

Here is some sales data from 5/27/22
https://www.youtube.com/watch?v=IcOPKM-WSAE

Will be interesting to hear him talk again with current June sales data!

Here is June 3rd update!

https://www.youtube.com/watch?v=tSSKRTgaBuo

[Rose Ann Vinci Igoe]

I don’t have the data to say that preowned homes sales in the Villages have come to a slow down. However, there are now a lot more homes listed for sale on the Villages internet sales site. Has anyone else noticed this? A few homes that I have been tracking have also reduced their listing price. This situation is quite a change for just three months ago.

a new renter next door to me was looking to purchase a home in the villages. The realtors were "told" to PUSH the new construction homes first and hold back on pre-owned homes. They were getting very mad because they wanted an area in the Northern end of the Villages not the Southern. The realtors kept "pushing" the newer homes..etc.. the couple canceled the realtors and purchased a house through "sale by owner"... how true this is, beats me.

[asianthree]

a new renter next door to me was looking to purchase a home in the villages. The realtors were "told" to PUSH the new construction homes first and hold back on pre-owned homes. They were getting very mad because they wanted an area in the Northern end of the Villages not the Southern. The realtors kept "pushing" the newer homes..etc.. the couple canceled the realtors and purchased a house through "sale by owner"... how true this is, beats me.

Not many new home on the market either. We have purchased 4 homes here, told our guy where we wanted to live and that’s what our Villages rep took us.
Maybe the newer reps want to sell new, it’s less work. But if you tell them preowned only, and they say no, they have a boss to complain to, and you can have a different rep in a heartbeat

[manaboutown]

a new renter next door to me was looking to purchase a home in the villages. The realtors were "told" to PUSH the new construction homes first and hold back on pre-owned homes. They were getting very mad because they wanted an area in the Northern end of the Villages not the Southern. The realtors kept "pushing" the newer homes..etc.. the couple canceled the realtors and purchased a house through "sale by owner"... how true this is, beats me.

Sounds like they were dealing with Villages agents who are notorious for pushing new builds. The same thing happened to me so I know first hand. Only Villages agents can sell new builds. Villages agents are NOT Realtors.

[vintageogauge]

In print. Average days on the market April 22, May 14 no info available for June yet. Inventory for sale April to May down 11%. Average price down less than 1%. These are MLS figures only and do not included The Villages new or used homes, they had the figures in the Daily Sun a week or so ago and I believe the new homes were averaging 10 per day in May which was near the April figures, I can't remember the re-sales but they were also close to the April figures. If you look at The Villages re-sales in the daily paper that have been on the market long enough to have it advertised you will notice that there are far more for sale north of 44 than south but there are a lot more homes north of 44. I don't think they're going down on price much, we just sold one of our properties here and our agent told us to list it for more than I was thinking and it sold for more than I was thinking about 2 weeks ago. It seems that the homes that are obviously over priced sit for awhile but those priced where they should be go very quickly. I have noticed that patio villas with full 2 car garages go almost immediately as do 4 bedroom designers with either 2 plus a golf car garage or a 3-car garage. Now with interest going up it might slow down somewhat.

[Bogie Shooter]

a new renter next door to me was looking to purchase a home in the villages. The realtors were "told" to PUSH the new construction homes first and hold back on pre-owned homes. They were getting very mad because they wanted an area in the Northern end of the Villages not the Southern. The realtors kept "pushing" the newer homes..etc.. the couple canceled the realtors and purchased a house through "sale by owner"... how true this is, beats me.

Been here since 2002, this is an urban legend.

[Babubhat]

Have 6 in my village sitting for weeks with no price cuts. Trajectory is down

[Bilyclub]

Been here since 2002, this is an urban legend.

Having first hand experience can say not an urban legend. The only preowned houses our sales agent took us to North of 44 were ones we picked out.

[vintageogauge]

Have 6 in my village sitting for weeks with no price cuts. Trajectory is down

Must be in a bad neighborhood LOL, the ones around us are gone in a matter of a few days.

[vintageogauge]

Having first hand experience can say not an urban legend. The only preowned houses our sales agent took us to North of 44 were ones we picked out.

Just the opposite for us, we told our Villages Sales Professional, Beth Pope where we wanted to look which was around 466A, she took us to several homes, some we found, some she found, there was something we didn't like about all of them. The next day she picked us up and took us to the new homes, we bought one within 30 minutes. It was good to do it that way as we were able to see how much more we were getting for a lot less money by choosing a new home.

[ThirdOfFive]

a new renter next door to me was looking to purchase a home in the villages. The realtors were "told" to PUSH the new construction homes first and hold back on pre-owned homes. They were getting very mad because they wanted an area in the Northern end of the Villages not the Southern. The realtors kept "pushing" the newer homes..etc.. the couple canceled the realtors and purchased a house through "sale by owner"... how true this is, beats me.
I don't think that some people realize that you don't have to go through realtors who work for The Villages, if you are buying a pre-owned home IN The Villages. We bought ours from a semi-retired contractor who listed the home with an independent realtor after giving it a thorough face-lift: new flooring, new roof, new paint job, etc. North of 466, quiet neighborhood. Couldn't be happier.

[RICH1]

The Good Houses sell and The Tax Assessor drools…..but of course the New Homes in “The Marsh” need a sales push

[Badger 2006]

a new renter next door to me was looking to purchase a home in the villages. The realtors were "told" to PUSH the new construction homes first and hold back on pre-owned homes. They were getting very mad because they wanted an area in the Northern end of the Villages not the Southern. The realtors kept "pushing" the newer homes..etc.. the couple canceled the realtors and purchased a house through "sale by owner"... how true this is, beats me.

Just a speculative thought: Many Re-sale homes were purchased years ago when prices were considerably lower, so owners have the option to lower pricing and still make a decent profit. New construction is stuck with exorbitantly high construction costs and does not have the same ability to discount heavily and retain the profit margins they expect. A new “Villages Built” home, say priced at $700K, might easily be found in a comparable resale at $100K+ less. With this scenario “The Villages” could sell fewer new homes, thus they steer lookers to new, to avoid showing buyers the better deal with resale.

[Babubhat]

I believe the opposite. Resales are overpriced. In a year new homes will cost less to build. Resales are full of capital maintenance costs people don’t factor in. I will buy new and get what I want

The economy is already collapsing. Just look at your stocks today

[vintageogauge]

The Good Houses sell and The Tax Assessor drools…..but of course the New Homes in “The Marsh” need a sales push

I guess that's why there's a waiting list for homes and lots to be released in "The Marsh" 10 new builds sold a day every day of the month, must be something good going on down in "The Marsh"

[vintageogauge]

I believe the opposite. Resales are overpriced. In a year new homes will cost less to build. Resales are full of capital maintenance costs people don’t factor in. I will buy new and get what I want

The economy is already collapsing. Just look at your stocks today

Agree, new homes are still priced lower than a comparable re-sale.

[DAVES]

I don’t have the data to say that preowned homes sales in the Villages have come to a slow down. However, there are now a lot more homes listed for sale on the Villages internet sales site. Has anyone else noticed this? A few homes that I have been tracking have also reduced their listing price. This situation is quite a change for just three months ago.

Re: home pricing, We own our home purchased roughly ten years ago. We are neither buying or selling but wow they have gone up.

It is interesting New Homes are priced at like 485, 339. Whatever happened to prices ending in 990? Heck we've seen reduced by 20,000 so it is now 465,339.

[Bogie Shooter]

The Good Houses sell and The Tax Assessor drools…..but of course the New Homes in “The Marsh” need a sales push

More subtle bashing of the new areas………..

[manaboutown]

We live in interesting times. Mortgage interest rates are finally returning to "normal", about 6% per annum - at least for now. Interest rates may in the near future go higher. This will soften residential real estate sales in most of the country both in price and number of units sold. That means that many potential frogs won't receive as high a price as they may have a month or two ago and it may take months instead of days to sell their homes. On top of that the financial markets are (finally) heading south which likely will affect the savings and retirement accounts of many people hoping to retire in the near future. What impact will this have on the prices and number of homes sold in The Villages? Will it be like 2007 - 2008?

"2008: 2,238 New Home Sales

2007: 2,403 New Home Sales

Ah, 2007. Not exactly my best year, nor was it for The Villages.

This year The Villages saw the largest drop in year-over-year sales, by selling 1,560 fewer homes than in 2006.

December 2007 marks the “official” start of The Great Recession, but all you had to do to know that a recession was going on before then was to be selling real estate in Florida like I was.

2006: 3,963 New Home Sales

2005: 4,263 New Home Sales"

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

[DAVES]

a new renter next door to me was looking to purchase a home in the villages. The realtors were "told" to PUSH the new construction homes first and hold back on pre-owned homes. They were getting very mad because they wanted an area in the Northern end of the Villages not the Southern. The realtors kept "pushing" the newer homes..etc.. the couple canceled the realtors and purchased a house through "sale by owner"... how true this is, beats me.

Buying a home is strange indeed. For most people it is the most expensive thing they have ever bought or sold. No two houses are the same. It might be the same exact home. same condition but they are not in the same place.

Then there is the buyer mood. I'm tired of looking. Bargain that works at least two ways. Would you know a bargain when you see it? One is beautifully furnished. The other you hate the carpet, the wall color and can't stand the furniture. When they remove the furniture you will see clearly the carpet is worn and you will surely need to or want to paint. The other meaning of bargaining. If, you go with a broker they will prevent you from talking to the seller. What is truly important to the seller? No pressure about when they need to be out-that can be a plus. A quick closing, can be a plus. Cash no need to worry about the buyer not getting a mortgage can be a plus.

Our home-we came to the villages 3x before buying. I wanted used, wife wanted new.
Of course we bought new. We have good neighbors a big plus.

The villages sales people, they are not brokers. They seem to push new. Perhaps easier. No price negotiation, decorated models available to show most anytime-no setting up appointments with sellers. No risk of the builder attempting to beat them out of earned commission.

[vintageogauge]

More subtle bashing of the new areas………..

Jealousy will do that Bogie.

[DAVES]

We live in interesting times. Mortgage interest rates are finally returning to "normal", about 6% per annum - at least for now. Interest rates may in the near future go higher. This will soften residential real estate sales in most of the country both in price and number of units sold. That means that many potential snowbirds won't receive as high a price as they may have a month or two ago and it may take months instead of days to sell their homes. On top of that the financial markets are (finally) heading south which likely will affect the savings and retirement accounts of many people hoping to retire in the near future. What impact will this have on the prices and number of homes sold in The Villages? Will it be like 2007 - 2008?

"2008: 2,238 New Home Sales

2007: 2,403 New Home Sales

Ah, 2007. Not exactly my best year, nor was it for The Villages.

This year The Villages saw the largest drop in year-over-year sales, by selling 1,560 fewer homes than in 2006.

December 2007 marks the “official” start of The Great Recession, but all you had to do to know that a recession was going on before then was to be selling real estate in Florida like I was.

2006: 3,963 New Home Sales

2005: 4,263 New Home Sales"

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

Far as interesting times, mentioned before I have a sort of hobby reading old books.
We think our problems are new, they have always been.

I recall reading that Davey Crocket left Kentucky to go to Texas, he died at the Alamo, because it was getting too crowded in Kentucky. I looked it up. If I recall the population of Kentucky was around 4 million.

It is 2022 the good old days are gone and past. I made good money in sales. I know I could not do it today. Did a lot of driving/ We are all aware of the cost of gasoline today.

What was, was. We have no choice but to deal with what is whether it makes us happy or not.

There are choices besides the villages. TEASING A LITTLE, our values are going up due to so many wanting to move here. It is growing in population perhaps like Kentucky getting crowded. Texas? The news says record heat. I've been there. Texas seems to have more pretty women per capita than any other state in the union.
For now we are here. Moving? Last move was well over 200 boxes and I still regret leaving some of my STUFF behind.

[Stu from NYC]

Village sales agent sell what they are told to by their managers. The exception is some of the older sales agents who are big producers.

In any case mortgages are going to get more and more expensive.

[Laker14]

I've been following the listings on Trulia for a few years. Especially between 466 and 466A, and inside, or in near proximity of the Odell-Bailey Trail loop. There are definitely more homes on the market listed in that broad area now than there ever were, from Spring of '21, through January or February of '22. And I'm seeing more price reductions. Some of the price reductions seemed to me to be from incredibly ridiculous down to very optimistic. It's hard to say for sure because I don't walk through the houses. Maybe there is something really special that just didn't come through in the listing. I doubt it. More likely to me is the idea that folks were hearing about crazy prices, and thought they might as well cash in. Maybe 6-8 months ago, but not now.

[dewilson58]

Mortgage interest rates are finally returning to "normal", about 6% per annum - at least for now.

You are right, but you should not publish your address, many are upset.

[OrangeBlossomBaby]

Villages Real Estate agents are licensed real estate agents. But they are under exclusive contract with the Villages, and can't represent sellers of homes outside the Villages. But since they are the contracted agents, they have the exclusive rights to selling Villages-owned properties (meaning - have never been sold to anyone yet). Non-Villages Real Estate agents are not allowed to sell NEW homes in the Villages, but can represent homeowners to sell pre-owned homes in the Villages.

Since Villages agents have exclusive rights to never-owned property, it's in their best interest to focus their sales efforts on those homes. It's also in the Villages Developer's best interest, since they're the ones who profit from the sale. The Villages developers don't profit from sales of pre-owned homes, UNLESS it's one of their own agents selling the home. But their own agents have to compete with other agencies for those homes.

Our "buyers' agent" was a Villages real estate agent. We had the lifestyle visit down across from Brownwood in the villas there. I was 100% NOT interested in looking for a new home anywhere near it, and was disappointed when they said we couldn't do a lifestyle visit in the Sumter Landing area (the cottages used to be lifestyle visit properties). We wanted to look anywhere from "near" Sumter Landing and points north of that. So the agent and we had to waste a lot of time travelling.

Thankfully we found what we wanted online a year later in the "historic" section, and our agent was happy to help us navigate the sale.

[JMintzer]

Having first hand experience can say not an urban legend. The only preowned houses our sales agent took us to North of 44 were ones we picked out.

And my first hand experience was the exact opposite. Yes, we toured South of 44 (mainly to be able to see what some of the models looked like in real life), but when we decided we wanted to be between 44 and 466A, South of 44 was never mentioned again... (nor was North of 466A)...

[Jayhawk]

Village sales agent sell what they are told to by their managers.

Pretty much the same as any job, anywhere. Normal workplace behavior.

[Babubhat]

Housing Market Update: Share of Homes with Price Drops Reaches New High (https://www.redfin.com/news/housing-market-update-price-drops-hit-new-record/)

[Djean1981]

More subtle bashing of the new areas………..
Yeah. Some are jealous..

[melpetezrinski]

Facts & Data would tell.

But what the hell, let's jus speculate.............it's more fun.

:a040:

On the MLS (zillow, realtor.com and others), there were 91 properties for sale in The Villages as of 3/1/2022. As of today, there are 212. On the VLS (The Villages Website) 131 were for sale as of 3/1/2022. Today, 266. Of which, 69 are new construction. FSBO have stayed fairly constant.

[Stu from NYC]

On the MLS (zillow, realtor.com and others), there were 91 properties for sale in The Villages as of 3/1/2022. As of today, there are 212. On the VLS (The Villages Website) 131 were for sale as of 3/1/2022. Today, 266. Of which, 69 are new construction. FSBO have stayed fairly constant.

Wonder if/when the developer slows down building new homes?

[Laker14]

If the high interest rates are here for a year or more, or, as they quite reasonably could do, increase over the next year or two, it has to have an effect in at least two ways, it seems to me. Retirees up north won't get as much for their homes as they sell them, and their budgets will be less as they shop down here.
I bought my home in TV with a 2.75% 30 year fixed rate mortgage. Current rates are about twice that, so the same purchase price would carry nearly twice the monthly payment. Ouch.

[Stu from NYC]

If the high interest rates are here for a year or more, or, as they quite reasonably could do, increase over the next year or two, it has to have an effect in at least two ways, it seems to me. Retirees up north won't get as much for their homes as they sell them, and their budgets will be less as they shop down here.
I bought my home in TV with a 2.75% 30 year fixed rate mortgage. Current rates are about twice that, so the same purchase price would carry nearly twice the monthly payment. Ouch.

Get ready for 7-8% within a year. Should stop the rise in housing prices

[Luggage]

I don't care too many people with too much cash playing games by buying two three four houses. They'll all get hurt if pricing goes down south like it did 10 12 years ago in Orlando. They seem to forget that. Just like everyone crying at the stock market went down in the last week, but they forget that it went up for 10 years previously 100%

[Papa_lecki]

Get ready for 7-8% within a year. Should stop the rise in housing prices

How about after the July Fed meeting. 30 year fixed in Florida is averaging around 7.1%

Disclosure - I googled it, and that’s what I got back. I am sure you can get a mortgage for less than that.

[Stu from NYC]

How about after the July Fed meeting. 30 year fixed in Florida is averaging around 7.1%

Disclosure - I googled it, and that’s what I got back. I am sure you can get a mortgage for less than that.

Not for long. Only way left to fight inflation is higher interest rates. However would be shocked if this does not manage to put us into a recession hopefully though a fairly mild one.

[Keefelane66]

I don’t have the data to say that preowned homes sales in the Villages have come to a slow down. However, there are now a lot more homes listed for sale on the Villages internet sales site. Has anyone else noticed this? A few homes that I have been tracking have also reduced their listing price. This situation is quite a change for just three months ago.
I'm glad we didn't buy at the top of this housing market the Villages is a bubble possibly waiting to burst?

[Bilyclub]

And my first hand experience was the exact opposite. Yes, we toured South of 44 (mainly to be able to see what some of the models looked like in real life), but when we decided we wanted to be between 44 and 466A, South of 44 was never mentioned again... (nor was North of 466A)...

Yes, and your are way East of Buena Vista. :coolsmiley:

[MX rider]

Yes, and your are way East of Buena Vista. :coolsmiley:
We did a lifestyle visit in Feb. We had no intention of buying new and told our Villages agent that right from the first phone call. She still tried to get us to look in the new section. I finally had to be blunt with her and tell her, don't even take us to see a new home.
She reluctantly got what I was saying....finally. At that time she didn't have much inventory of existing homes to show us. Luckily we had a great MLS agent and found what we were looking for.

They very much do push new homes.

[Rainger99]

According to Freddie Mac, the average rate on a 30-year fixed mortgage rose to 5.78% last week, the highest since November 2008. It was the largest one-week increase since 1987.

[kendi]

I don’t have the data to say that preowned homes sales in the Villages have come to a slow down. However, there are now a lot more homes listed for sale on the Villages internet sales site. Has anyone else noticed this? A few homes that I have been tracking have also reduced their listing price. This situation is quite a change for just three months ago.

Are most of the homes you see North? Realtor told us lots of people in the north sections are bailing for the newer homes in South. Homes in North are on the market longer while in the South they’re snapped up quickly.

[Chi-Town]

Our Villages realtor pushed the new section which was Hadley and Hemingway. Wanted a larger home near LSL, and she found us one, so it ended well. And I've heard this many times from others. The sad thing is they steer potential buyers away from the seller which does the seller no good.

[Dilligas]

Having first hand experience can say not an urban legend. The only preowned houses our sales agent took us to North of 44 were ones we picked out.
If you have any sales person who only wants to show specific listings, you need to fire that person and get a new one. Good Villages' agents will show you anything to fit the needs you have expressed. The only thing they can not show you is MLS listings, which are much low in quantity in TV. The 'urban legend' is something perpetulated by non-Villages reality personnel as a method to substantuate their position to sell you something.....for they only can handle a small % of total listings.

[Boomer]

I hope anyone who was getting geared up to go back home anyway, especially if they owned a house where they came from, made the decision to get while the gettin’ was good.

Sellers have been sitting in the catbird seat for well over a year. This real estate market has had a bigger emotional component than I have ever seen. Yes, money was cheap, but unlike the last bubble, lending practices have been tightened. This one has been an emotional frenzy.

Something else is going on in this one like never before. Big companies are buying up a slew of houses throughout the country, for cash. They are not just flippers. They are tapping into the rental market. First time buyers have been left out because of that bottomless pit of big company money, doing buy-ups. Rent can be exorbitant, making it much harder to save for a downpayment.

In some places, suburbs are building apartments like crazy, often coupling them with some kind of “Lifestyle” pitch. It’s like younger people are supposed to just give up and live in a rental forever.

What a mess this weird-azz real estate market is, was, and will be.

Enough ranting from me.


Boomer

[Stu from NYC]

I hope anyone who was getting geared up to go back home anyway, especially if they owned a house where they came from, made the decision to get while the gettin’ was good.

Sellers have been sitting in the catbird seat for well over a year. This real estate market has had a bigger emotional component than I have ever seen. Yes, money was cheap, but unlike the last bubble, lending practices have been tightened. This one has been an emotional frenzy.

Something else is going on in this one like never before. Big companies are buying up a slew of houses throughout the country, for cash. They are not just flippers. They are tapping into the rental market. First time buyers have been left out because of that bottomless pit of big company money, doing buy-ups. Rent can be exorbitant, making it much harder to save for a downpayment.

In some places, suburbs are building apartments like crazy, often coupling them with some kind of “Lifestyle” pitch. It’s like younger people are supposed to just give up and live in a rental forever.

What a mess this weird-azz real estate market is, was, and will be.

Enough ranting from me.


Boomer

These big companies sitting on a lot of cash will do well as long as many people have to or want to rent at ever increasing prices. If their return on capital falls down their cash position will dry up and they will not be in a position to keep buying homes for cash.

[JMintzer]

We did a lifestyle visit in Feb. We had no intention of buying new and told our Villages agent that right from the first phone call. She still tried to get us to look in the new section. I finally had to be blunt with her and tell her, don't even take us to see a new home.
She reluctantly got what I was saying....finally. At that time she didn't have much inventory of existing homes to show us. Luckily we had a great MLS agent and found what we were looking for.

They very much do push new homes.

Your agent is not all agents...

[Stu from NYC]

Are most of the homes you see North? Realtor told us lots of people in the north sections are bailing for the newer homes in South. Homes in North are on the market longer while in the South they’re snapped up quickly.

Great way to push you into buying a new house. Did they give you any numbers to back this up?

[vintageogauge]

Wonder if/when the developer slows down building new homes?

They haven't slowed down building yet. It's amazing how fast they are going up and more villages are being started every month or so.

[Stu from NYC]

They haven't slowed down building yet. It's amazing how fast they are going up and more villages are being started every month or so.

Very true but as interest rates go up people who can afford current prices with mortgage will get smaller and smaller.

Interesting to see how this plays out.

[manaboutown]

Although The Villages is unique this is what is happening in most markets which could affect people selling their homes to move here.

Housing Crash Imminent: As Mortgage Rates Explode Price Cuts Soar And Buyer Demand Collapses | ZeroHedge (https://www.zerohedge.com/economics/housing-crash-imminent-mortgage-rates-explode-price-cuts-soar-and-buyer-demand-collapses)

[Cookie Princess]

The higher priced new builds are also sitting longer than in months past.

[Topspinmo]

Been here since 2002, this is an urban legend.

So, just cause you been here don’t mean you know in and outs of housing market. Others have posted first hand experience.

[thelegges]

Great way to push you into buying a new house. Did they give you any numbers to back this up?

Preowned site can be broken down to areas, and type of build. We have been actively looking for 18 months, and keeping stats.

Yes, there have been more homes in the northern section for sale, the prices have risen to a higher percentage keeping up with home prices south of 466. However, less have large garages, or golf cart garages, age comes in to play, but lots are sometimes bigger, and bonus is bond is close to paid off.

[Stu from NYC]

Preowned site can be broken down to areas, and type of build. We have been actively looking for 18 months, and keeping stats.

Yes, there have been more homes in the northern section for sale, the prices have risen to a higher percentage keeping up with home prices south of 466. However, less have large garages, or golf cart garages, age comes in to play, but lots are sometimes bigger, and bonus is bond is close to paid off.

Good friends of ours have recently moved from north of 466A to about 4 miles south. Seems as if as you go south the lots become smaller and houses are closer together. Also it appears as you go south garages get deeper. We live N of 466A and wish our garage was a couple of feet deeper.

[MX rider]

Yes, and your are way East of Buena Vista. :coolsmiley:

I hope anyone who was getting geared up to go back home anyway, especially if they owned a house where they came from, made the decision to get while the gettin’ was good.

Sellers have been sitting in the catbird seat for well over a year. This real estate market has had a bigger emotional component than I have ever seen. Yes, money was cheap, but unlike the last bubble, lending practices have been tightened. This one has been an emotional frenzy.

Something else is going on in this one like never before. Big companies are buying up a slew of houses throughout the country, for cash. They are not just flippers. They are tapping into the rental market. First time buyers have been left out because of that bottomless pit of big company money, doing buy-ups. Rent can be exorbitant, making it much harder to save for a downpayment.

In some places, suburbs are building apartments like crazy, often coupling them with some kind of “Lifestyle” pitch. It’s like younger people are supposed to just give up and live in a rental forever.

What a mess this weird-azz real estate market is, was, and will be.

Enough ranting from me.


Boomer

You make some good points.

But I also think the Florida market, especially the over 55 communities, is driven mostly by the boomers. We're a huge generation, many are retiring and wanting to move to warmer climates.
That's not going to slow down anytime soon. Add to that more people than ever are retiring early.
I do think the market will cool of some due to interest rates, and it may be happening already. Plus, the stock market may delay some people making the move.

That said, I think the market here will be fairly strong for a while. Just not red hot like it's been. Home prices can't go up forever.

[MX rider]

Your agent is not all agents...

I simply shared our experience. Obviously some, maybe most, do push new as more than a few on here have said.
I'm not blaming them for promoting new to a point. They make more on those sales, so it's understandable why they try to sell those first.

I was just a bit frustrated that she didn't hear what we were saying. Our MLS agent was just the opposite.
A big key to being successful in sales is to listen to your customer.

I've been in sales for over 30 years, so I know a little bit about this.
We're not quite retired yet, only 10 more months.

[vintageogauge]

Good friends of ours have recently moved from north of 466A to about 4 miles south. Seems as if as you go south the lots become smaller and houses are closer together. Also it appears as you go south garages get deeper. We live N of 466A and wish our garage was a couple of feet deeper.

We have friends in Briar Meadows, you can't get much further north than that and the lots are so small you can talk to your neighbor from the lanai without raising your voice. We live south of 44 and our lots are much larger. We also have a friend in Caroline his lot is extremely small and he's on a cul-de-sac. So I guess there are small and larger in all the different villages and a lot of that depends on the series of home you have. Ranches and cottages have smaller lots than do designers.

[Madelaine Amee]

I have a house for sale in Summerhill backing onto 7th tee of Fox Run. PM me for details. I am not prepared to discuss any details on line.

[Stu from NYC]

We have friends in Briar Meadows, you can't get much further north than that and the lots are so small you can talk to your neighbor from the lanai without raising your voice. We live south of 44 and our lots are much larger. We also have a friend in Caroline his lot is extremely small and he's on a cul-de-sac. So I guess there are small and larger in all the different villages and a lot of that depends on the series of home you have. Ranches and cottages have smaller lots than do designers.

As we drive south on Morse the houses seem very close together same as we approach Fenney.

[Bogie Shooter]

As we drive south on Morse the houses seem very close together same as we approach Fenney.

We need some accurate measurements.:a040:

[KAM+6]

I simply shared our experience. Obviously some, maybe most, do push new as more than a few on here have said.
I'm not blaming them for promoting new to a point. They make more on those sales, so it's understandable why they try to sell those first.

I was just a bit frustrated that she didn't hear what we were saying. Our MLS agent was just the opposite.
A big key to being successful in sales is to listen to your customer.

I've been in sales for over 30 years, so I know a little bit about this.
We're not quite retired yet, only 10 more months.

Your MLS agent cannot sell new homes only resales listed with MLS, not VLS.

[vintageogauge]

I have a house for sale in Summerhill backing onto 7th tee of Fox Run. PM me for details. I am not prepared to discuss any details on line.

I started to sell our investment home down here by myself, that lasted about 1 day as it is a PITA, everyone thinks it's going to be a steal because no agent involved. I listed it with an agent the next day and ended up clearing more out of it then I would have on my own. Mark it up 7% or so and let them do the work, they have customers waiting. I would recommend Beth Pope of The Villages Homes. Beth, her husband and daughter all are Villages sales professionals and they work together as a team. You get 3 for the price of 1.

[Madelaine Amee]

I started to sell our investment home down here by myself, that lasted about 1 day as it is a PITA, everyone thinks it's going to be a steal because no agent involved. I listed it with an agent the next day and ended up clearing more out of it then I would have on my own. Mark it up 7% or so and let them do the work, they have customers waiting. I would recommend Beth Pope of The Villages Homes. Beth, her husband and daughter all are Villages sales professionals and they work together as a team. You get 3 for the price of 1.

My home is with a Village Agent. It is, however, tucked away in a corner and gets little traffic. Also the ridiculously small signs allowed to sell a home in TV is not helping. I have to get my husband back to family. I hate to do it, but I might have to walk away and leave the agent to sell it in my absence.

[Stu from NYC]

We need some accurate measurements.:a040:

Sad you can not give more interesting comments to my posts.

[manaboutown]

My home is with a Village Agent. It is, however, tucked away in a corner and gets little traffic. Also the ridiculously small signs allowed to sell a home in TV is not helping. I have to get my husband back to family. I hate to do it, but I might have to walk away and leave the agent to sell it in my absence.

A few years ago, before the housing bubble, a Villager of my acquaintance listed her house for sale with a Villages agent as she was purchasing another home in The Villages. To say she was disappointed with its lack of being shown is a grievous understatement. It was very difficult for her to carry two house for several months. According to her The Villages put next to no effort to market her home. She pleaded with them to try to show it but to little avail. The listing finally expired and she listed it with an MLS Realtor who did sell her home in a short period of time.

[JMintzer]

I simply shared our experience. Obviously some, maybe most, do push new as more than a few on here have said.
I'm not blaming them for promoting new to a point. They make more on those sales, so it's understandable why they try to sell those first.

I was just a bit frustrated that she didn't hear what we were saying. Our MLS agent was just the opposite.
A big key to being successful in sales is to listen to your customer.

I've been in sales for over 30 years, so I know a little bit about this.
We're not quite retired yet, only 10 more months.

I have no doubt YOUR agent was a problem...

I only commented on your post that "they" most certainly do push new homes. They is not the same as "my" agent...

[JMintzer]

We have friends in Briar Meadows, you can't get much further north than that and the lots are so small you can talk to your neighbor from the lanai without raising your voice. We live south of 44 and our lots are much larger. We also have a friend in Caroline his lot is extremely small and he's on a cul-de-sac. So I guess there are small and larger in all the different villages and a lot of that depends on the series of home you have. Ranches and cottages have smaller lots than do designers.

South of 44, they moved the homes forward on the lots to give a bigger back yard. It was what people were now asking for...

Unfortunately, that caused the front yard to be significantly smaller, allowing only one car length in the driveway...

Both areas tend to have larger lots on cul-de-sacs, or when backing to view lots or major roadways... From what I saw, when I was shopping, there was little difference between the average lot size "between the 6's" and South of 44...

[MX rider]

Your agent is not all agents...

Your MLS agent cannot sell new homes only resales listed with MLS, not VLS.

Duh! I know that. I was just saying she listened to us, unlike the TV agent. Get a clue.

[valuemkt]

To prove or disprove the discussion on lot size, pick some addresses and go to the sumter county property APPRAISER web site, not the "Randy Mask" tax site.. Record Search - Sumter County Property Appraiser : Sumter County Property Appraiser (https://www.sumterpa.com/record-search/) you can put any address in the county and it contains the square footage of the lot size, in addition to the square footage of the house etc ..

[JMintzer]

Duh! I know that. I was just saying she listened to us, unlike the TV agent. Get a clue.

Then you should have closed with "OUR Agent pushed new homes", rather than "THEY most certainly do push new homes"...

Words matter...

[Dani & Bill]

You may want to find another ‘valued resource’ for your information. We ARE licensed agents but we do NOT belong to the NAR. We DO listen to the clients needs and assist accordingly, furthermore, we cannot MAKE you purchase ANYTHING.

[manaboutown]

You may want to find another ‘valued resource’ for your information. We ARE licensed agents but we do NOT belong to the NAR. We DO listen to the clients needs and assist accordingly, furthermore, we cannot MAKE you purchase ANYTHING.

Can you act as buyers' agents on resales and if so have you ever done so?

When you sell new homes do you act as a transactional agent or do you represent the developer?

Does the developer motivate you financially or otherwise to steer buyers to new homes?

[Debfrommaine]

We have friends in Briar Meadows, you can't get much further north than that and the lots are so small you can talk to your neighbor from the lanai without raising your voice. We live south of 44 and our lots are much larger. We also have a friend in Caroline his lot is extremely small and he's on a cul-de-sac. So I guess there are small and larger in all the different villages and a lot of that depends on the series of home you have. Ranches and cottages have smaller lots than do designers.

We had a designer in Bonita, first house, gorgeous so we fell for looks instead of being practical for our lifestyle. We had very nice neighbors but we could see what they had for breakfast since our lanai was, while raised, too close for comfort. Third house, with a cement walk behind it, while private, we could hear too many conversations. Current home on a pond, private and open space....serenity. Bond less than up north...life is good for us.

[Dani & Bill]

We utilize a “No Broker Agreement”. I hope this answers your questions. :)

[Rango]

Just the opposite for us, we told our Villages Sales Professional, Beth Pope where we wanted to look which was around 466A, she took us to several homes, some we found, some she found, there was something we didn't like about all of them. The next day she picked us up and took us to the new homes, we bought one within 30 minutes. It was good to do it that way as we were able to see how much more we were getting for a lot less money by choosing a new home.

Beth Pope is an excellent agent!

[EdFNJ]

2/2 Colony next door to us with really nice improvements has been up for sale by TV sales folks over 6 weeks with multiple open houses. It seems a little overpriced but another identical home behind us with just about no improvements a few months ago sold for asking price in a matter of days which was close to what he is asking but it probably would have sold in 2 hours about 3 months ago. Last conversation with him he hadn't even got an offer. Seems prices will stay high for a while until people realize changes are either in the wind or already passed wind. ;)

[jrref]

2/2 Colony next door to us with really nice improvements has been up for sale by TV sales folks over 6 weeks with multiple open houses. It seems a little overpriced but another identical home behind us with just about no improvements a few months ago sold for asking price in a matter of days which was close to what he is asking but it probably would have sold in 2 hours about 3 months ago. Last conversation with him he hadn't even got an offer. Seems prices will stay high for a while until people realize changes are either in the wind or already passed wind. ;)

I think the problem is many new buyers are now more cautious for many reasons stated which is why homes are not being sold the same day. My realtor says the frenzy is basically over. The only homes that sell quickly are ones that are upgraded, move in ready and priced correctly.

Also a lot of recent existing home sales are by people wanting to cash in give where the market went. The problem is now it's too late. Many are going to be very disappointed.

[Laker14]

You may want to find another ‘valued resource’ for your information. We ARE licensed agents but we do NOT belong to the NAR. We DO listen to the clients needs and assist accordingly, furthermore, we cannot MAKE you purchase ANYTHING.

Can you act as buyers' agents on resales and if so have you ever done so?

When you sell new homes do you act as a transactional agent or do you represent the developer?

Does the developer motivate you financially or otherwise to steer buyers to new homes?

We utilize a “No Broker Agreement”. I hope this answers your questions. :)

I don't think that answers any questions until you explain what a "No Broker Agreement" means for the buyers and the sellers.

How about direct "yes" or "no" answers to the 3 questions posed?

[Stu from NYC]

I think the problem is many new buyers are now more cautious for many reasons stated which is why homes are not being sold the same day. My realtor says the frenzy is basically over. The only homes that sell quickly are ones that are upgraded, move in ready and priced correctly.

Also a lot of recent existing home sales are by people wanting to cash in give where the market went. The problem is now it's too late. Many are going to be very disappointed.

The problem with cashing in is where do you go from here?

[Papa_lecki]

I don't think that answers any questions until you explain what a "No Broker Agreement" means for the buyers and the sellers.

How about direct "yes" or "no" answers to the 3 questions posed?

Not a lawyer, but Google told me

“A no brokerage relationship or non representation takes place when the broker is not directly involved in buying or selling of the property. he/she just facilitates the listing of the property for which he/she can be paid a certain amount.“

[RPDaly]

---

[Robbb]

I've been following the listings on Trulia for a few years. Especially between 466 and 466A, and inside, or in near proximity of the Odell-Bailey Trail loop. There are definitely more homes on the market listed in that broad area now than there ever were, from Spring of '21, through January or February of '22. And I'm seeing more price reductions. Some of the price reductions seemed to me to be from incredibly ridiculous down to very optimistic. It's hard to say for sure because I don't walk through the houses. Maybe there is something really special that just didn't come through in the listing. I doubt it. More likely to me is the idea that folks were hearing about crazy prices, and thought they might as well cash in. Maybe 6-8 months ago, but not now.

I think you are absolutely correct. I have been following homes for about 6 months and seems to me as though home sellers are testing the top of the market by pricing their homes at ridiculous values, counting on the "greater fool" principal to see if someone will fall for it.

[manaboutown]

We utilize a “No Broker Agreement”. I hope this answers your questions. :)

Not this one: Does the developer motivate you financially or otherwise to steer buyers to new homes?

No free meals in the private dining room, rides on any of the jets in the Morse Air Force, big game hunting on the developer's ranches out west?

So you never even act as a transactional broker on behalf of a seller and/or buyer and hence entirely avoid agency except in the case of the developer's interest?

Do you give your customers this notice?

"NO BROKERAGE RELATIONSHIP NOTICE

FLORIDA LAW REQUIRES THAT REAL ESTATE LICENSEES WHO HAVE NO BROKERAGE RELATIONSHIP WITH A POTENTIAL SELLER OR BUYER DISCLOSE THEIR DUTIES TO SELLERS AND BUYERS.

As a real estate licensee who has no brokerage relationship with you, (insert name of Real Estate Entity and its Associates) owe to you the following duties:
1. Dealing honestly and fairly;
2. Disclosing all known facts that materially affect the value of residential real property which are not readily observable to the buyer.
3. Accounting for all funds entrusted to the licensee.
(Date) (Signature)

(5) APPLICABILITY.—
(a) Residential sales.—The real estate licensee disclosure requirements of this section apply to all residential sales. As used in this subsection, the term “residential sale” means the sale of improved residential property of four units or fewer, the sale of unimproved residential property intended for use of four units or fewer, or the sale of agricultural property of 10 acres or fewer.
(b) Disclosure limitations.—
1. The real estate disclosure requirements of this section do not apply when a licensee knows that the potential seller or buyer is represented by a single agent or a transaction broker; or when an owner is selling new residential units built by the owner and the circumstances or setting should reasonably inform the potential buyer that the owner’s employee or single agent is acting on behalf of the owner, whether because of the location of the sales office or because of office signage or placards or identification badges worn by the owner’s employee or single agent.
2. The real estate licensee disclosure requirements of this section do not apply to: nonresidential transactions; the rental or leasing of real property, unless an option to purchase all or a portion of the property improved with four or fewer residential units is given; a bona fide “open house” or model home showing that does not involve eliciting confidential information, the execution of a contractual offer or an agreement for representation, or negotiations concerning price, terms, or conditions of a potential sale; unanticipated casual conversations between a licensee and a seller or buyer which do not involve eliciting confidential information, the execution of a contractual offer or agreement for representation, or negotiations concerning price, terms, or conditions of a potential sale; responding to general factual questions from a potential buyer or seller concerning properties that have been advertised for sale; situations in which a licensee’s communications with a potential buyer or seller are limited to providing general factual information, oral or written, about the qualifications, background, and services of the licensee or the licensee’s brokerage firm; auctions; appraisals; and dispositions of any interest in business enterprises or business opportunities, except for property with four or fewer residential units."

From: Statutes & Constitution
:View Statutes
:

Online Sunshine (http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0400-0499/0475/Sections/0475.278.html)

[jrref]

The problem with cashing in is where do you go from here?

The Villages is relatively expensive but that's because of all that you get. Some people move to smaller and older communities where homes could be a little cheaper. But you are right, it's not going to be a lot cheaper for the same type of home.

[Laker14]

Do a lot of retired folks that came down here recently after cashing out elsewhere really need to take out a mortgage? How do you even qualify for one without a job? No mortgage was on the top of my list of things I did not want any longer in life. We purchased a property at a price to accomplish that. Plus take a look at the bonds on the new builds. That is almost a mortgage in it's self and the rates are only climbing.

we took out a mortgage because we didn't cash out up north. We still have our northern home. We had to show our income stream from our Social Security and our IRAs etc. I think many do sell their "northern" home and have the cash to not take out a mortgage.

[Laker14]

We utilize a “No Broker Agreement”. I hope this answers your questions. :)

I'm not trying to beat you up, but I do hope you'll come back to the thread and answer the specific questions.

When we were buying our home we used two brokers. One from The Villages, and one from an MLS company. A new build was not in our plans and our Villages agent never tried to push us into anything. The MLS agent signed a contract with me stating that he was acting as MY fiduciary, and he did well. The only reason he got the sale was that the house we decided on was an MLS listing, not a Villages resale.

I would have been OK with the Villages agent and sale if she'd had the house we wanted, but I would also have had my eyes wide open as far as whose interests she was primarily advancing.

[manaboutown]

Sales of Previously Owned Homes Fall to an Almost Two-Year Low (https://finance.yahoo.com/news/sales-previously-owned-homes-fall-141546676.html)

[dewilson58]

Sales of Previously Owned Homes Fall to an Almost Two-Year Low (https://finance.yahoo.com/news/sales-previously-owned-homes-fall-141546676.html)

That's not saying much............the market was crazy for two years.

[manaboutown]

That's not saying much............the market was crazy for two years.

Yes it was. It seems the bubble is starting to deflate some.

[Dallasdon]

Sales of Previously Owned Homes Fall to an Almost Two-Year Low (https://finance.yahoo.com/news/sales-previously-owned-homes-fall-141546676.html)

Related to above:
Median rents have crossed the $2,000 threshold for the first time. : NPR (https://www.npr.org/2022/06/09/1103919413/rents-across-u-s-rise-above-2-000-a-month-for-the-first-time-ever)

[Laker14]

We seem to have lost our Villages Realty representative, and we never got any definitive answers to the questions posed.

[BlueStarAirlines]

We seem to have lost our Villages Realty representative, and we never got any definitive answers to the questions posed.

It appeared there was a pretty aggressive agenda and were not honestly seeking dialogue. I don't blame them......

[Laker14]

It appeared there was a pretty aggressive agenda and were not honestly seeking dialogue. I don't blame them......

You may want to find another ‘valued resource’ for your information. We ARE licensed agents but we do NOT belong to the NAR. We DO listen to the clients needs and assist accordingly, furthermore, we cannot MAKE you purchase ANYTHING.

I refer you to their first post on the thread, suggesting we find another 'valued resource' for our information. When asked simple direct questions they disappeared without answering them. I thought they were offering their first hand knowledge of the role and responsibilities of Villages Realty agents as a source for our information. Evidently not.

[vintageogauge]

I refer you to their first post on the thread, suggesting we find another 'valued resource' for our information. When asked simple direct questions they disappeared without answering them. I thought they were offering their first hand knowledge of the role and responsibilities of Villages Realty agents as a source for our information. Evidently not.

Not everyone is on here every day. They might be back in a couple.

[Laker14]

Not everyone is on here every day. They might be back in a couple.

Fair enough.. I hope you are right.

[VApeople]

However, there are now a lot more homes listed for sale on the Villages internet sales site. Has anyone else noticed this?

Yeah, I have noticed the same thing.

A couple years ago, there were 21 re-sale homes on the market in the Village of Fenney. A few months ago, there were about 6. Today there are 19.

[Stu from NYC]

Rising interest rates and fear of major recession will make housing prices drop like a rock.