Real Estate Market Update - Third Quarter 2022 [Archive]

vintageogauge

10-13-2022, 02:53 PM

Developer has been pricing new homes for far less than resales. Buckle up

They have always been priced below re-sales at least for the last 5 years and when they get into areas such as DeLuna and Chitty Chatty where there are huge power lines and the Turnpike they are priced considerably lower than resales. If you check their new home open houses in the Daily Sun that are lower in cost you will see that most of them are in the noisy areas of DeLuna. You're not going to see that in villages like Richmond where it's basically a lottery to get an available lot. It's all location.

Michael 61

10-13-2022, 03:00 PM

Developer has been pricing new homes for far less than resales. Buckle up

That is why I am only looking to buy new (hopefully this month) —resale just doesn’t seem to be a good idea right now, as the price of new is far lower than resale.

Babubhat

10-13-2022, 05:48 PM

We are talking 100k less than resales. Not even close

Aces4

10-13-2022, 06:38 PM

We are talking 100k less than resales. Not even close

Location, location, location.

JMintzer

10-13-2022, 07:31 PM

Location, location, location.

And upgrades, upgrades, upgrades...

Aces4

10-13-2022, 08:16 PM

And upgrades, upgrades, upgrades...

I totally agree. Anyone who hasn’t expended the time, potential mess and money involved with those upgrades hasn’t a clue what all those extras involve. But they’ll find out when they buy new and dip their toe in the remodeling/upgrade pool.:22yikes:

Papa_lecki

10-13-2022, 08:29 PM

And upgrades, upgrades, upgrades...

But the bond doesn’t affect price.
A $30,000 bond on a new house vs a $0 or $10,000 on existing.

JMintzer

10-13-2022, 09:14 PM

But the bond doesn’t affect price.
A $30,000 bond on a new house vs a $0 or $10,000 on existing.

I never said that...

Stu from NYC

10-13-2022, 09:41 PM

I never said that...

Hmm do you have a witness who didnt see you say that?

jimbomaybe

10-14-2022, 03:48 AM

Prices starting to trend downward.

When 30yr mortgages dipped below 3% it of course stimulated lot of home buying , demand raised prices, now a 30yr mortgage is about twice that lowering demand and prices, my understanding is that all real-estate markets are to one extent or another different and that's true for the Villages as well, the question is where is the bottom for home prices , where's the top of interest rates ? recession or no recession ? , or to what extent, no matter how unique the Villages those factors will tell the tale . Just my opinion 3% = cheep money suggests leverage not a bad idea, 6%+ maybe not

Laker14

10-14-2022, 05:48 AM

I guess I should have sold both of my homes last year. But if I had, I'd be living on the street now.

Laker14

10-14-2022, 05:56 AM

Developer has been pricing new homes for far less than resales. Buckle up

What are we comparing? Are prices for new homes less than they were a year ago, comparing similar models in similar neighborhoods?

ThirdOfFive

10-14-2022, 06:45 AM

And upgrades, upgrades, upgrades...
And fixes, fixes, fixes....

A couple of our friends from UpNort moved down two weeks ago. Brand new house. Talked to them yesterday. I think there've been only two days so far when they HAVEN'T had repair people in to fix shoddy construction issues. Their story is the only one that I know of firsthand, but I've heard enough secondhand like tales of woe to make me wonder just what is going on.

Rainger99

10-14-2022, 06:54 AM

And fixes, fixes, fixes....

A couple of our friends from UpNort moved down two weeks ago. Brand new house. Talked to them yesterday. I think there've been only two days so far when they HAVEN'T had repair people in to fix shoddy construction issues. Their story is the only one that I know of firsthand, but I've heard enough secondhand like tales of woe to make me wonder just what is going on.

We moved here last year. The first month we had numerous repairmen in. However, every issue was minor and was usually cosmetic. Paint, grout, etc. It was taken care of usually within 2 days of the call. In a pre-owned house, if you find missing paint or grout after you move in, I don’t think the previous owner will come back and fix it.

Stu from NYC

10-14-2022, 07:08 AM

We moved here last year. The first month we had numerous repairmen in. However, every issue was minor and was usually cosmetic. Paint, grout, etc. It was taken care of usually within 2 days of the call. In a pre-owned house, if you find missing paint or grout after you move in, I don’t think the previous owner will come back and fix it.

This is why we hired an inspector before finalizing our sale.

Robnlaura

10-14-2022, 07:35 AM

That is why I am only looking to buy new (hopefully this month) —resale just doesn’t seem to be a good idea right now, as the price of new is far lower than resale.

They have spent a significant amount on new infrastructure.. they have to build and sell and at 7% interest rates, housing markets crashing around the country .. they will price to sell that bubble will burst

Michael 61

10-14-2022, 08:06 AM

And upgrades, upgrades, upgrades...

Although there are obvious exceptions, so many resale homes I’m seeing still have carpet in the living areas, dark kitchen cabinets, some with popcorn ceilings, outdated master shower, low ceilings, unappealing paint color choices, black kitchen appliances — all these things would need to be switched out on a resale - the minor upgrades needed to a new home are far less than many of the “make-overs” needed in many resales.

kkingston57

10-14-2022, 08:15 AM

I don't think the Third Quarter Market Update is out yet.

Does anyone have any predictions?

Pre-Owned Homes Pending
Pre-Owned Homes Sold
Average Sales Price
Average Days on the Market

New Homes Pending
New Homes Sold
Average Sales Price
Average Days on the Market

Would think that some people will re consider moving to the coastal areas of Florida and this might help sellers in the non coastal areas. This will include fear of hurricanes and +++ insurance premium increase.

Only time will tell, but my best guess is that market will stay good but not gangbusters like past 2 years.

kkingston57

10-14-2022, 08:21 AM

And fixes, fixes, fixes....

A couple of our friends from UpNort moved down two weeks ago. Brand new house. Talked to them yesterday. I think there've been only two days so far when they HAVEN'T had repair people in to fix shoddy construction issues. Their story is the only one that I know of firsthand, but I've heard enough secondhand like tales of woe to make me wonder just what is going on.

At least your friends should not be paying for the shoddy construction. My biggest beaf is that developer/builders are still selling non solid surface(aka formica) counter tops in 400K+ homes. Most of the re sales do have this upgrade.

KAM+6

10-14-2022, 08:23 AM

Don't forget to add the BOND to the price of the house. New house could be 30 to 40,000. Resale, low or NO bond.

laboutj

10-14-2022, 08:26 AM

I saw a vinyl sided home south of 44 on the villages website and they are asking $750K. Prices are not falling that quickly

Stu from NYC

10-14-2022, 08:28 AM

I saw a vinyl sided home south of 44 on the villages website and they are asking $750K. Prices are not falling that quickly

Does not mean they will get their asking price

justjim

10-14-2022, 09:20 AM

A house is only worth what someone is willing to pay, We we’re here during the 2007-2008 economic crisis and new home prices and resales in TV only went down about 7-8% give or take. I expect similar in the next six months.

JMintzer

10-14-2022, 03:19 PM

Hmm do you have a witness who didnt see you say that?

https://media.tenor.com/cH9gfgKqp-cAAAAC/umm-wait.gif

JMintzer

10-14-2022, 03:19 PM

What are we comparing? Are prices for new homes less than they were a year ago, comparing similar models in similar neighborhoods?

Apples to Kumquats...

JMintzer

10-14-2022, 03:22 PM

JMintzer

10-14-2022, 03:24 PM

Although there are obvious exceptions, so many resale homes I’m seeing still have carpet in the living areas, dark kitchen cabinets, some with popcorn ceilings, outdated master shower, low ceilings, unappealing paint color choices, black kitchen appliances — all these things would need to be switched out on a resale - the minor upgrades needed to a new home are far less than many of the “make-overs” needed in many resales.

Where are you looking? We have none of those issues...

Babubhat

10-14-2022, 04:43 PM

Richmond area is on fire. Been trying for multiple houses without luck so far

Notsocrates

10-14-2022, 10:12 PM

They have always been priced below re-sales at least for the last 5 years and when they get into areas such as DeLuna and Chitty Chatty where there are huge power lines and the Turnpike they are priced considerably lower than resales. If you check their new home open houses in the Daily Sun that are lower in cost you will see that most of them are in the noisy areas of DeLuna. You're not going to see that in villages like Richmond where it's basically a lottery to get an available lot. It's all location.

Don't understand why Richmond is so appealing. It abuts the tpk. Can anyone venture can explanation?

Rainger99

10-15-2022, 02:47 AM

Don't understand why Richmond is so appealing. It abuts the tpk. Can anyone venture can explanation?

I would assume that its primary appeal is that it is about 5 minutes from Brownwood and 10 from the stores and restaurants up on 466A. Although it would be nice to hear from people who are buying there.

RICH1

10-15-2022, 05:11 AM

The Villages seem very attractive to the folks that were wiped out after Hurricane Ian.. many giving up their dreams and headed our way, to live in The Bubble…all cash buyers are welcome anytime

Timothyimitchell

10-17-2022, 03:54 AM

Don't understand why Richmond is so appealing. It abuts the tpk. Can anyone venture can explanation?

It's easy.

1-Very pretty area
2-Close to Brownwood and close enough to other amenities.
3-Lake Okahumpka Rec Center. If you haven't been there go take a look.
4-Turnpike noise is very OVERRATED. (We live in Citrus Grove)

I think The remaining homes will also sell out quickly, even in "these" times.

Challenger

10-17-2022, 05:14 AM

Caveat Emptor

a huge amount of the stuff posted in this thread is somewhat misleading or totally wrong.

Altavia

10-17-2022, 06:02 AM

Don't forget to add the BOND to the price of the house. New house could be 30 to 40,000. Resale, low or NO bond.

Don't forget the bond has no impact on sales price. It's a deferred tax you can pass on to the next buyer.

Stu from NYC

10-17-2022, 07:03 AM

Don't forget the bond has no impact on sales price. It's a deferred tax you can pass on to the next buyer.

Savvy buyers will calculate the total cost of buying a home.

Aces4

10-17-2022, 10:25 AM

Don't forget the bond has no impact on sales price. It's a deferred tax you can pass on to the next buyer.

In the three times we sold, bond does have an impact.

manaboutown

10-17-2022, 10:30 AM

Don't forget the bond has no impact on sales price. It's a deferred tax you can pass on to the next buyer.

The bond is not a deferred tax. It is the home's share of the cost of the infrastructure for the immediate development sold on the installment plan with nondeductible interest. It is an added cost to the home, not a tax.

Babubhat

10-17-2022, 10:31 AM

Plenty of houses in Richmond not affected by noise. Diligent buyers do their homework

charlieo1126@gmail.com

10-17-2022, 10:49 AM

In the three times we sold, bond does have an impact. I’ve sold 5 homes I purchased new here and the bond on them was unimportant to me , not sure I even knew what it was to closing.The bond had no impact when I sold the homes you’ll get a couple of people that will try to subtract the bond from sale (you just say no) I got top dollar on all the sales and the longest home was on market was about 3 weeks and with no discount for bond. I know people advertise no bond but they try to jack up the price , the price of home is always what it’s worth bond or no bond

Aces4

10-17-2022, 02:20 PM

I’ve sold 5 homes I purchased new here and the bond on them was unimportant to me , not sure I even knew what it was to closing.The bond had no impact when I sold the homes you’ll get a couple of people that will try to subtract the bond from sale (you just say no) I got top dollar on all the sales and the longest home was on market was about 3 weeks and with no discount for bond. I know people advertise no bond but they try to jack up the price , the price of home is always what it’s worth bond or no bond

Sorry you didn’t get top dollar plus your bond payoff. Our longest sale time was two weeks for one, the other two sold first day. Top dollar plus the amount of bond paid off on two and the total paid bond on the other. It sounds like you move a lot as we do.

charlieo1126@gmail.com

10-17-2022, 08:59 PM

Aces4

10-17-2022, 10:55 PM

I don’t know what your talking about with the bond , could you explain that , the seller took over the bond and one persons top dollar may not be someone else’s top dollar and 2 of the houses because of a tip were close outs , not discounts ,I had to be there at the start of the business day to buy them , so I did very well on them and after selling 14 homes and condos I tip my hat to you because I don’t know anyone that sold on first day , you must have obviously talked to someone before the first day and if it was a listing it took a while to go up , I count the days from when the selling process starts till I get a deposit and written contract

Well, you know someone now. We sold it ourselves, first day of the ad and had three offers within an hour at the open house that day which we closed down early. The other house was shown the first day of the ad and we received an offer that day. Smooth closings and great sales results. :wave:

Altavia

10-18-2022, 06:39 AM

The bond is not a deferred tax. It is the home's share of the cost of the infrastructure for the immediate development sold on the installment plan with nondeductible interest. It is an added cost to the home, not a tax.

Just a point of view. Given the bond stays with the home, it is effectively a deferred tax levied through a corporation.

You do not own any of the infrastructure a you would paying off a loan on property.

"Taxes are mandatory contributions levied on individuals or corporations by a government entity—whether local, regional, or national. Tax revenues finance government activities, including public works and services such as roads and schools"

charlieo1126@gmail.com

10-18-2022, 07:34 AM

Well, you know someone now. We sold it ourselves, first day of the ad and had three offers within an hour at the open house that day which we closed down early. The other house was shown the first day of the ad and we received an offer that day. Smooth closings and great sales results. :wave:I have sold a couple of homes on first day it was posted , but I was talking about the full process , I still don’t understand what you were taking about with the bond

jrref

10-18-2022, 08:20 AM

Just a point of view. Given the bond stays with the home, it is effectively a deferred tax levied through a corporation.

You do not own any of the infrastructure a you would paying off a loan on property.

"Taxes are mandatory contributions levied on individuals or corporations by a government entity—whether local, regional, or national. Tax revenues finance government activities, including public works and services such as roads and schools"

The bond is not a deferred tax. It's a loan you assume when you buy the house for the cost of the infrastructure. It can be as much as $2,000 or more on your yearly tax bill. What most people don't realize is the interest rate on the bond. Some are low like 3% and others are at 6% or higher. If you plan to stay in the home for 10 years or more a $25,000 bond could wind up costing you $50,000 when it's all paid up. Even if you stay in the home for 10-15 years you will be paying most of the interest up front just like a mortgage. The bond is a loan at probably a high interest rate that you need to pay off over 30 years. ( and most people aren't here for 30 years ). Of course you can invest the money and deduct the interest against the yearly bond payoff but you have to guarantee you are able to get a reasonable rate of return on your money for a very long time which isn't always possible.

As far as having the bond paid when selling? It's just another sales feature for your home. Also the reason why some homes sell in a day while others don't is becasue they are probably move in ready with a view. Many homes today are sitting on the market for a month or more so any benefits like the bond paid along with all the other benefits will make your home sell faster.

Aces4

10-18-2022, 10:01 AM

I have sold a couple of homes on first day it was posted , but I was talking about the full process , I still don’t understand what you were taking about with the bond

When we sell a home, we do the leg work for establishing market value for our property with all improvements and then add any bond amounts we have paid off to the price. We then list, noting the bond is paid or provide the remaining bond balance in our listing. Full listing price is very rewarding.

44Apple

10-18-2022, 10:16 AM

Anyone boasting in this thread re how fast or slow they sold their house should indicate which month/year did the offer occur. Puts your sale in better context for the reader.

Aces4

10-18-2022, 10:38 AM

Anyone boasting in this thread re how fast or slow they sold their house should indicate which month/year did the offer occur. Puts your sale in better context for the reader.

Those were facts requested when questioned about recovering bond costs. Boasting must be your cup of tea.

Okay, I’ll begin.. we’ve had over 20 real estate closings in our lives. So let’s say we’ve sold 12 properties and out of those 12, all had immediate offers however, one took 9 months to close and the other took two months. Those two years were 1980 which included high interest rates and our buyer’s home being rezoned for commercial business which took almost eight months and in 2004 when the unraveling for the 2005 housing crisis started.

44Apple

10-18-2022, 10:49 AM

. Boasting must be your cup of tea.

???

Aces4

10-18-2022, 11:36 AM

[QUOTE=44Apple;2148189]Anyone boasting in this thread re how fast or slow they sold their house…

Your words for a discussion taking place here.

Tvflguy

10-18-2022, 12:19 PM

The bond is not a deferred tax. It's a loan you assume when you buy the house for the cost of the infrastructure. It can be as much as $2,000 or more on your yearly tax bill. What most people don't realize is the interest rate on the bond. Some are low like 3% and others are at 6% or higher. If you plan to stay in the home for 10 years or more a $25,000 bond could wind up costing you $50,000 when it's all paid up. Even if you stay in the home for 10-15 years you will be paying most of the interest up front just like a mortgage. The bond is a loan at probably a high interest rate that you need to pay off over 30 years. ( and most people aren't here for 30 years ). Of course you can invest the money and deduct the interest against the yearly bond payoff but you have to guarantee you are able to get a reasonable rate of return on your money for a very long time which isn't always possible.

As far as having the bond paid when selling? It's just another sales feature for your home. Also the reason why some homes sell in a day while others don't is becasue they are probably move in ready with a view. Many homes today are sitting on the market for a month or more so any benefits like the bond paid along with all the other benefits will make your home sell faster.

Perfectly said IMO. We paid off our bond 2 years ago on our now 8 year old home. Got tired of having to pay it yearly along with the interest. We’re not concerned re the house sale, whenever that is, after we croak. It will be in the kid’s hands and bank accounts. We do believe a no-bond is a good sale incentive and getting $$ in return.

Papa_lecki

10-18-2022, 12:31 PM

Paying off bond is like any improvement to a house.

Will you sell a house faster if your kitchen is redone? Probably not, you might get a percent of the improvement back.

Those who sold a house with a bond on day 1 don’t know if they would have had multiple offers on day 1 and gotten an extra $5,000 or $10,000 if the bond was paid - get a portion of the bond back.

Us personally, we looked at homes with a bond, but the bond balance is a debt, so we calculated that into the decision to make an offer or not. We bought a house with a bond, but it was mostly paid off.

At the end of the day, most real estate does boil down to location/location/location. Look at the threads on Richmond vs Deluna.

Nucky

10-18-2022, 12:41 PM

We lived within a mile or so of the NJTP in 20 plus homes that we flipped over our lifetime. Some of them had a double whammy, they were in the flight path of Newark Airport also. It's noise that disappears after a short time. As a matter of fact I couldn't sleep when we got to The Villages because of the quiet.

We looked in DeLuna over this past weekend and based on our past experience it was a gigantic Nothing Burger Noise wise. I parked in the driveway of the house that interested us and with the hearing aides in with new batteries all I heard was a slight tire noise. Once inside the house without the A/C on I heard NOTHING. For us it's a non issue. I like the area that the house is in and it will probably be a go if we get the correct amount for our house. I'm almost certain it's sold already if they can get financing. The last storm is the reason for the move. We will miss the Historic Section immensly. Out of all the whopper beautiful homes we had up north we bought a Manufactured Home and I finally had that at home feeling.

We are risking a lot by moving but our neighborhood is changing quickly and not all for the better. We have some neighbors that we're going to miss big time but if they are up for it I'll come and get them, feed 'em and deliver them home. It's hard to imagine the day the mover goes up thee street and the Love Shack isn't home anymore. I better stop or I'll talk myself out of it.

7% interest sucks but it is what it is. I'll refinance when the time is right. Life's for living and that's what we're trying to do, safely.

Stu from NYC

10-18-2022, 12:49 PM

Perfectly said IMO. We paid off our bond 2 years ago on our now 8 year old home. Got tired of having to pay it yearly along with the interest. We’re not concerned re the house sale, whenever that is, after we croak. It will be in the kid’s hands and bank accounts. We do believe a no-bond is a good sale incentive and getting $$ in return.

Two very experienced real estate agents answred that for me after we moved in.

Both said do it if you plan on spending the rest of your life here but you will not recover the total cost of the bond if you sell in the next few years

Since we might move to a larger house we still pay yearly

charlieo1126@gmail.com

10-18-2022, 01:16 PM

Sorry you didn’t get top dollar plus your bond payoff. Our longest sale time was two weeks for one, the other two sold first day. Top dollar plus the amount of bond paid off on two and the total paid bond on the other. It sounds like you move a lot as we do.I don’t know why you should say sorry didn’t get he bond payoff , if you read my message and your a real estate expert then you should have understood what I was saying

charlieo1126@gmail.com

10-18-2022, 01:44 PM

Anyone boasting in this thread re how fast or slow they sold their house should indicate which month/year did the offer occur. Puts your sale in better context for the reader. your right the last home I sold was in Fenney about 18 months ago the market was just starting to move a little , that sold to second person to look before it even was posted ,of my other homes , 2 were golf course , another at Haciendas of Mission Hill-and the other in Virginia trace with a wall behind it,there were 2 to 3 year intervals between sales and there were some years away from here, they sold fast, even when he market had the last downturn , they have all been new homes but after the sale and before I move in I put down tile or wood , put plantation shutters, paint , take down cheap fans and put up expensive ones ,and 3 solar tubes ( bathrooms and usually in kitchen ) , I sell them all with furniture , and you be surprised how many people will pay up for decor that they could never pick out themselves, fyi they also come with new stove and dishwasher because I don’t cook ever and use plastic and paper for take out lol , and if your going to say it’s unhealthy ,I’m 83 , 135 lbs no pills lol

Altavia

10-18-2022, 02:27 PM

The bond is not a deferred tax. It's a loan you assume when you buy the house for the cost of the infrastructure.

I know it's confusing but Bonds are not loans. They follow the property, not the buyer.

I said the bond is "effectively" a deferred tax. That paid for a corporate bond financing infrastructure. Similar to a government bond financing schools and roads.

Unlikely any financial advisor would recommend paying it off given only a small percentage of buyers would consider it on a purchase decision.

Doubtful any one here will live long enough to pay it off with annual payments.

But of it makes someone feel better to give part of their heirs inheritance to a stranger, go for it.

Aces4

10-18-2022, 03:03 PM

I don’t know why you should say sorry didn’t get he bond payoff , if you read my message and your a real estate expert then you should have understood what I was saying. Also your statement earlier: I know people advertise no bond but they try to jack up the price , the price of home is always what it’s worth bond or no bond

I explained this earlier but you must have missed it. I said I was sorry you couldn’t recoup bond balances you paid. I then stated:
When we sell a home, we do the leg work for establishing market value for our property with all improvements and then add any bond amounts we have paid off to the price. We then list, noting the bond is paid or provide the remaining bond balance in our listing. Full listing price is very rewarding.

We’re not real estate experts, just payed attention to the real estate market and factors when moving.

Stu from NYC

10-18-2022, 04:14 PM

I know it's confusing but Bonds are not loans. They follow the property, not the buyer.

I said the bond is "effectively" a deferred tax. That paid for a corporate bond financing infrastructure. Similar to a government bond financing schools and roads.

Unlikely any financial advisor would recommend paying it off given only a small percentage of buyers would consider it on a purchase decision.

Doubtful any one here will live long enough to pay it off with annual payments.

But of it makes someone feel better to give part of their heirs inheritance to a stranger, go for it.

If one feels they will do better by not paying off the bond early but investing the money for a better return than paying on the bond no reason not to

charlieo1126@gmail.com

10-19-2022, 08:13 AM

. Also your statement earlier: I know people advertise no bond but they try to jack up the price , the price of home is always what it’s worth bond or no bond

I explained this earlier but you must have missed it. I said I was sorry you couldn’t recoup bond balances you paid. I then stated:
When we sell a home, we do the leg work for establishing market value for our property with all improvements and then add any bond amounts we have paid off to the price. We then list, noting the bond is paid or provide the remaining bond balance in our listing. Full listing price is very rewarding.

We’re not real estate experts, just payed attention to the real estate market and factors when moving.again that sentence about people trying to add the bond price to the home was , directed at other people , I would not buy a home that added the price left on the bond into the sale of the house the bond is separate from the house and your full listing price may or not be correct , top dollar is always in the eye of the owner, my whole point was you telling me you were sorry I didn’t get full price ,but it’s okay FULL PRICE IS VERY REWARDING

Fltpkr

10-19-2022, 08:23 AM

Hmm do you have a witness who didnt see you say that?

Isn’t the question “Do you have a witness who heard you never say that?”

Fltpkr

10-19-2022, 08:27 AM

Caveat Emptor

a huge amount of the stuff posted in this thread is somewhat misleading or totally wrong.

For sure!

Stu from NYC

10-19-2022, 08:53 AM

Isn’t the question “Do you have a witness who heard you never say that?”

Irregardless of that as Yogi used to say, When you come to a fork in the road take it!:bigbow:

Aces4

10-19-2022, 09:19 AM

again that sentence about people trying to add the bond price to the home was , directed at other people , I would not buy a home that added the price left on the bond into the sale of the house the bond is separate from the house and your full listing price may or not be correct , top dollar is always in the eye of the owner, my whole point was you telling me you were sorry I didn’t get full price ,but it’s okay FULL PRICE IS VERY REWARDING

Bottom line is the money laid out in bond payoff may be recouped with sale of the house, it’s not that difficult.:wave:

charlieo1126@gmail.com

10-19-2022, 09:32 AM

Bottom line is the money laid out in bond payoff may be recouped with sale of the house, it’s not that difficult.:wave:well your the , , expert , I’m just a novice , I’ve only sold 14 homes and condos , so I can’t compete with your expertise and just leave it alone , I won’t be back on the thread again but I leave with this FULL PRICE IS VERY REWARDING especially when it’s NOT AND maybe you should reread my message it’s not to hard to understand for an expert Bye lol

Stu from NYC

10-19-2022, 10:10 AM

Bottom line is the money laid out in bond payoff may be recouped with sale of the house, it’s not that difficult.:wave:

Maybe it will be recouped and maybe it will not how can you be sure?

manaboutown

10-19-2022, 10:10 AM

again that sentence about people trying to add the bond price to the home was , directed at other people , I would not buy a home that added the price left on the bond into the sale of the house the bond is separate from the house and your full listing price may or not be correct , top dollar is always in the eye of the owner, my whole point was you telling me you were sorry I didn’t get full price ,but it’s okay FULL PRICE IS VERY REWARDING

Whenever I received full price I afterwards realized I had not asked enough, especially on a quick sale.

Altavia

10-19-2022, 10:46 AM

With CD rates already north of 4% and not slowing, even more think about before paying off the bond.

Aces4

10-19-2022, 12:52 PM

Whenever I received full price I afterwards realized I had not asked enough, especially on a quick sale.

When you add the price of the paid bond in to your total and you sell your home that much or more above the prevailing rates, you’ll know you asked enough. Particularly when your neighbor tells you that you’ll never get your price. It’s not brain surgery.

manaboutown

10-19-2022, 01:50 PM

When you add the price of the paid bond in to your total and you sell your home that much or more above the prevailing rates, you’ll know you asked enough. Particularly when your neighbor tells you that you’ll never get your price. It’s not brain surgery.

The statement to which you are referring was based upon my personal experiences. I do not pretend to speak for others.

Late last year I put a commercial property up for sale at a price slightly above what highly experienced brokers recommended after studying several comps. Over a listing period of a little over a week I received about 10 offers, seven of them serious, including three over my asking price. The brokers asked the potential buyers to sharpen their pencils and come back with their best offers. Long story short, it closed in April 2022 at more than 40% over my listing price. Nothing like an auction!

Stu from NYC

10-19-2022, 01:52 PM

The statement to which you are referring was based upon my personal experiences. I do not pretend to speak for others.

Late last year I put a commercial property up for sale at a price slightly above what highly experienced brokers recommended after studying several comps. Over a listing period of a little over a week I received about 10 offers, seven of them serious, including three over my asking price. The brokers asked the potential buyers to sharpen their pencils and come back with their best offers. Long story short, it closed in April 2022 at more than 40% over my listing price. Nothing like an auction!

Wow. If I was say 20 years younger would come to you for advise on investing in real estate. At my age not looking for long term investments.

manaboutown

10-19-2022, 02:00 PM

Wow. If I was say 20 years younger would come to you for advise on investing in real estate. At my age not looking for long term investments.

I view it as pure luck in a highly overheated market. Timing. I just put a similar property up for sale in another state, same brokers who specialize in this type of property nationwide. One of the potential buyers approached by the brokers was the same outfit that had just bought my property. Their response was they had way overpaid for PA and MD properties, mine being the MD one. They had expected to jack up the rents and did so but lost about half their tenants. They were just too optimistic. IMHO one makes his money when he buys right. I am under contract on the current one at a wonderful price, but nothing like what the other property sold for.

dewilson58

10-19-2022, 02:19 PM

Wow. If I was say 20 years younger would come to you for advise on investing in real estate. At my age not looking for long term investments.

But WAIT, you have not heard my story.
Do you know what I have done in the last year.
This is the internet and everything posted is true.

:loco:

Rainger99

10-19-2022, 02:19 PM

I have to say that the discussion appears to be veering off the topic. The reason that I posted was because I was interested in finding out how good people are - or are not - at predicting the results of the third quarter real estate sales in The Villages.

Stu from NYC

10-19-2022, 03:18 PM

Stu from NYC

10-19-2022, 03:19 PM

But WAIT, you have not heard my story.
Do you know what I have done in the last year.
This is the internet and everything posted is true.

:loco:

Other than being one of the more frequent posters on here please enlighten me.:shrug:

dewilson58

10-19-2022, 03:44 PM

please enlighten me.:shrug:

40% over my listing price.
Don't believe everything posted on the internet.

:spoken:

manaboutown

10-20-2022, 09:36 AM

Stu from NYC

10-20-2022, 11:34 AM

40% over my listing price.
Don't believe everything posted on the internet.

:spoken:

Oh wise one what can one believe in on the internet?

Michael 61

10-20-2022, 11:55 AM

manaboutown

10-20-2022, 12:40 PM

The vast majority of new buyers are still paying cash.

But most need to sell their homes in other communities in which buyers need mortgages.

Stu from NYC

10-20-2022, 01:57 PM

But most needs to sell their homes in other communities in which buyers need mortgages.

Very true and every often there is a chain of 3 or more houses being sold as part of your transaction.

We had to rush to buy a home here as 3 other families would have been homeless for some period of time if we did not get out in time so others in the chain could move in

Rainger99

10-21-2022, 12:35 PM

Interesting article from Money.com. It states that the average rate on a 30-year mortgage is now approaching 7% and the monthly mortgage payment on a median-priced home has gone from $1,698 to $2,559.

The Rate of Sellers Dropping Home List Prices Hits New High | Money (https://money.com/dropping-home-list-prices-high-rate/)

We will see what impact it has on The Villages.

A $500,000 mortgage at 3.5% $2278.

A $500,000 mortgage at 7% is $3327.

This doesn't include taxes and insurance.

Nucky

10-21-2022, 01:21 PM

Looks like interest rates are tickling 7% now. I wonder how that will affect the sales of the homes of potential Villagers hoping to relocate here.

Housing: Existing home sales drop for 8th straight month in September (https://finance.yahoo.com/news/housing-existing-home-sales-drop-140004730.html)

Let's keep them there house sales dropping for another 30 to 45 days please, pretty please. :1rotfl:

manaboutown I believe you about your deal fully. We are liquidated on real estate in New Jersey but just pulled off a deal of a lifetime somewhere else on the east coast. It even shocked me. Two Surgeons who knew each other went head to head on a beautiful flawless home. There were 7 offers on day one. The others dropped out when the competition between these two started. One of them bid the house up just shy of $200,000. That's a cash deal with no contingencies or inspections. Done in 10 days. I promise you there is no exaggeration in my story. It was nuts 6 months ago.

I'm glad you smoked 'em on your deal manaboutown. :BigApplause:

manaboutown

10-21-2022, 01:32 PM

Let's keep them there house sales dropping for another 30 to 45 days please, pretty please. :1rotfl:

manaboutown I believe you about your deal fully. We are liquidated on real estate in New Jersey but just pulled off a deal of a lifetime somewhere else on the east coast. It even shocked me. Two Surgeons who knew each other went head to head on a beautiful flawless home. There were 7 offers on day one. The others dropped out when the competition between these two started. One of them bid the house up just shy of $200,000. That's a cash deal with no contingencies or inspections. Done in 10 days. I promise you there is no exaggeration in my story. It was nuts 6 months ago.

I'm glad you smoked 'em on your deal manaboutown. :BigApplause:

Thank you Nucky! Good to hear about the dueling surgeons...lol! These are crazy times and I just got beyond lucky. Believe me, I have had my share of so-so deals to a few that went bad, resulting in litigation in one case (which I lost). As my high school physics teacher used to say "You can't win 'em all.".

KAM+6

10-21-2022, 02:16 PM

The vast majority of new buyers are still paying cash.

Yes, but are they able to sell their house up north with buyers that probably have a 3% and now would be paying over 6%.

Aces4

10-21-2022, 04:13 PM

:BigApplause:Let's keep them there house sales dropping for another 30 to 45 days please, pretty please. :1rotfl:

manaboutown I believe you about your deal fully. We are liquidated on real estate in New Jersey but just pulled off a deal of a lifetime somewhere else on the east coast. It even shocked me. Two Surgeons who knew each other went head to head on a beautiful flawless home. There were 7 offers on day one. The others dropped out when the competition between these two started. One of them bid the house up just shy of $200,000. That's a cash deal with no contingencies or inspections. Done in 10 days. I promise you there is no exaggeration in my story. It was nuts 6 months ago.

I'm glad you smoked 'em on your deal manaboutown. :BigApplause:

I totally believe you, Nucky, our bidding war was nice but nothing like that!

Babubhat

10-21-2022, 04:25 PM

:BigApplause:

I totally believe you, Nucky, our bidding war was nice but nothing like that!

Can’t get the developer to take my money in Richmond. Brutal process

Aces4

10-21-2022, 04:29 PM

Can’t get the developer to take my money in Richmond. Brutal process

I’ve heard it’s wicked tough to get into Richmond, might be a good reason to avoid it.

Stu from NYC

10-21-2022, 05:59 PM

Do not understand why so many people play this game.

manaboutown

10-21-2022, 09:57 PM

Housing markets face a brutal squeeze (https://finance.yahoo.com/news/housing-markets-face-brutal-squeeze-104820590.html)

Laker14

10-22-2022, 04:29 AM

I assume we are all old enough to realize we've seen this movie before. I'm feeling fortunate I was able to talk my DW into making a move 2 years ago. We, just out of dumb luck, managed to hit a sweet spot when interests rates were low (2.75%) and just before home prices in TV went completely nuts.
I assume that most of us on this forum have made the move, are happy being homeowners in TV, not looking to sell, and can watch this phenomenon unfold without getting too emotionally invested.

I was not a cash buyer, as we kept our northern home so we can snowbird, so interest rates were a concern. If you are a cash buyer, and have been sitting on the sidelines hoping for a downturn in prices, maybe now is the time. I wouldn't wait too long though, as these national trends don't seem to hit TV as hard as normal residential markets get affected. I"ve watched the trends here since 2007, and while there have been some moderating downturns, as I say, not precipitous drops.
Just my free, and worthless, observations.

Laker14

10-22-2022, 04:33 AM

We were renting in TV in February-March of 2020 when the COVID pandemic arrived. I was expecting a steep drop in prices in TV, and a huge drop in what I felt was an over-valued stock market. I was almost correct, but only very briefly so.
If DW and I had been ready with cash in hand in the Spring of 2020, I think we could have saved a few dollars, maybe quite a few dollars, over the prices we were looking at 9 months later in late Autumn of 2020, but the dip in prices, if it did indeed happen, was brief.
As was the stock market reaction. Very brief.

Rainger99

10-22-2022, 08:46 PM

Operative word there is could.

U.S. home prices could fall as much as 20% next year - CBS News (https://www.cbsnews.com/news/home-prices-for-2023-mortgage-rates/)

Stu from NYC

10-22-2022, 09:09 PM