Interesting - Villages Realestate? [Archive] - Talk of The Villages Florida

melpetezrinski

11-15-2022, 04:51 PM

I've no dog in this fight, but MLS is resale only while VLS is primarily new homes.
New homes are being scooped up so fast there's a lottery.

I'm just sitting tight, so it doesn't much matter to me right now.

VLS is NOT primarily new homes. In fact, it's almost 3 to 1 the other way.

melpetezrinski

11-15-2022, 05:07 PM

The graphs are only resale homes sold through the MLS. New homes are a different animal.

New homes are certainly a different animal but I thought it was starting to follow the existing market more closely about a few months ago but I was wrong and it's all because of Richmond. When they started building in West Deluna (actually just Deluna), homes just sat and I mean over hundred, which is completely out of character for TV. I thought, here it goes, we finally have hit saturation. But people were just waiting for Richmond. Now that Richmond is in process, people are finding out that 20 other people have bids on the same house and nothing is available. So, those same 200, 300, 400... potential home buyers that waited on Deluna in hopes for Richmond are now relegated to buying in Deluna in my opinion. There were 200+ NEW homes available back in June, mostly in Deluna. Now there are 100.

Garywt

11-15-2022, 05:34 PM

Things in the bubble are different than anywhere else. People that want to move here are still coming.

Michael 61

11-15-2022, 06:10 PM

New homes are certainly a different animal but I thought it was starting to follow the existing market more closely about a few months ago but I was wrong and it's all because of Richmond. When they started building in West Deluna (actually just Deluna), homes just sat and I mean over hundred, which is completely out of character for TV. I thought, here it goes, we finally have hit saturation. But people were just waiting for Richmond. Now that Richmond is in process, people are finding out that 20 other people have bids on the same house and nothing is available. So, those same 200, 300, 400... potential home buyers that waited on Deluna in hopes for Richmond are now relegated to buying in Deluna in my opinion. There were 200+ NEW homes available back in June, mostly in Deluna. Now there are 100.

Count me as one of those potential DeLuna buyers, that held out for Richmond - had Richmond not been on the horizon, I think more DeLuna homes would have sold over the summer - once Richmond is built out and sold in the month or so, I think you will see some who were unable to secure a home in Richmond snatch up what’s left at that time in DeLuna. What will be a test case under the current economic situation is how timely Newell sells.

Rainger99

11-15-2022, 06:30 PM

What will be a test case under the current economic situation is how timely Newell sells.

Does anyone know if Newell is in the unincorporated part of Lake County or is it part of a town? How do Lake County taxes compare to Sumter County taxes? Unincorporated areas and those areas that are parts of a town such as Wildwood or Leesburg.

Altavia

11-15-2022, 08:29 PM

Things in the bubble are different than anywhere else. People that want to move here are still coming.

Home sales where the buyer has a contingency on the sale of the buyers home is starting to introduce delays.

I doubt contingency's are permitted for new home sales.

Laker14

11-15-2022, 09:30 PM

I agree that new home sales may indeed have a different dynamic than pre-owned, and that inside the bubble may be different than outside the bubble, but I think that TV is not totally insulated from market factors that effect the entire country.

But, what I am really interested in is why someone would think that selling a pre-owned home via MLS would be affected differently by overall market trends than selling the same home via The Villages Realty. Unless the comparison was being made between "pre-owned" MLS and "new", which as we all know, are only sold via The Villages Realty.

CPD050

11-15-2022, 10:34 PM

I noticed his graphs did not show year and over year. Maybe July to now. It would be interesting to see if the slow down in winter months happens every year like it does in the northern parts of the US.

Worldseries27

11-16-2022, 05:03 AM

Why richmond over deluna?

JoelJohnson

11-16-2022, 06:26 AM

10,000 people turn 65 every day and will for many years to come. Where do they want to live?

dewilson58

11-16-2022, 06:27 AM

But, what I am really interested in is why someone

:sigh:

Elaboration for you.

1) VLS includes new homes which are selling in hours, not days.

2) VLS used homes are selling approximately twice as fast as MLS.
(why you ask, more buyers go directly to The Villages)

Hendrick22

11-16-2022, 07:03 AM

I’m wondering the same thing..what’s the draw to Richmond??

Kingsport

11-16-2022, 07:11 AM

One of the folks involved in the Richmond lottery said that Richmond is desirable because it is close to Brownwood. They have failed several times to get a home in Richmond.

Papa_lecki

11-16-2022, 07:14 AM

I’m wondering the same thing..what’s the draw to Richmond??

Richmond is the 3 rules of real estate
1) location
2) location
3) location

Close to brownwood - the squares are still a draw.
Close to the brownwood bridge and golf courses north of 44.

NoMo50

11-16-2022, 07:33 AM

Does anyone know if Newell is in the unincorporated part of Lake County or is it part of a town? How do Lake County taxes compare to Sumter County taxes? Unincorporated areas and those areas that are parts of a town such as Wildwood or Leesburg.

Newell is in Lake County, and also within the city limits of Leesburg.

Nucky

11-16-2022, 07:47 AM

As a side note to new people moving into The Village’s from other locations in Florida. Check out Real Estate Property Tax Portability. I don’t have a full handle on it yet but it seems very interesting and appears to save you Money! I like that.
I got an email saying that two new neighborhoods are opening up beyond Richmond soon. Looks good! Happy Hunting.

GmaLisaG

11-16-2022, 07:54 AM

I don't really have a dog in the fight but personally I'd much rather live in Deluna than Richmond. So to each their own ... plus I agree if someone wants to live here they will live here if they can.

joelfmi

11-16-2022, 08:20 AM

As you stated location! Location! And cdd bonds which make the homes very expensive to keep up, and not on close to the turnpipe.

Carla B

11-16-2022, 09:00 AM

As you stated location! Location! And cdd bonds which make the homes very expensive to keep up, and not on close to the turnpipe.

Huh?

Carla B

11-16-2022, 09:24 AM

A rather unscientific view of the market: My husband looks at the VLS listing of preowned houses in the paper. daily. For the past few months there are approximately 48+/- listings each day; usually there is only one "pending", if any.

Last year during the boom, however, there were often more preowned houses pending under contract than not pending. So, yes, there is a real slowdown. And the preowned prices seem unreasonably high, especially for patio villas.

Birdrm

11-16-2022, 09:51 AM

The graphs are only resale homes sold through the MLS. New homes are a different animal.

True but if new homes continue to sell then that might drive the resale prices down slightly but they will continue to sell. If the new homes sales ever stagnate then I could see a problem with resales but I don't think this will occur unless interest rates hit 15% lol.

Laker14

11-16-2022, 10:24 AM

:sigh:

Elaboration for you.

1) VLS includes new homes which are selling in hours, not days.

2) VLS used homes are selling approximately twice as fast as MLS.
(why you ask, more buyers go directly to The Villages)

I wouldn't argue with your first point. They have the market cornered on new construction. I'm not sure that new homes are selling as fast, and for as much as they were during the fevered pitch days before the interest rates started to climb. Perhaps they are. I don't know.

As far as the 2nd point, again, while that may be true, we never get any information from that site as to what the final sale price was. We get asking price, and then once the sale is pending, there is no more information to be had, unlike the MLS listings for which, upon closing, the sales price becomes readily available on the internet via sites like Zillow and Trulia.

I have a friend who flips houses in TV, after renovating them, and he uses VLS as his sales broker. He assures me things have slowed down significantly even using VLS. He currently has at least one home on the market now, and has dropped the price at least once.
Another thing missing from the VLS site is "days on the market". They don't like that information to be out there, so it's really hard to know if your point about them "selling twice as fast" is accurate.

Michael 61

11-16-2022, 12:11 PM

For those who want to know why some people (including myself) held out for Richmond - see my thread entitled “I won the Richmond lottery” — Location was the big draw to this new village, as well as homes in the northern section of Richmond are far away from the turnpike, and this will hopefully impact resale value in the event I ever decide to sell.

TeresaE

11-16-2022, 03:35 PM

Preowned homes sold through Properties of The Villages (the in-house Villages Real Estate Office) are not listed in the mls. Also, Florida has just gone through two Hurricanes, one major, and we had a national election. While the data is interesting, not sure how it will play out over the long run.

vintageogauge

11-16-2022, 04:29 PM

I wouldn't argue with your first point. They have the market cornered on new construction. I'm not sure that new homes are selling as fast, and for as much as they were during the fevered pitch days before the interest rates started to climb. Perhaps they are. I don't know.

As far as the 2nd point, again, while that may be true, we never get any information from that site as to what the final sale price was. We get asking price, and then once the sale is pending, there is no more information to be had, unlike the MLS listings for which, upon closing, the sales price becomes readily available on the internet via sites like Zillow and Trulia.

I have a friend who flips houses in TV, after renovating them, and he uses VLS as his sales broker. He assures me things have slowed down significantly even using VLS. He currently has at least one home on the market now, and has dropped the price at least once.
Another thing missing from the VLS site is "days on the market". They don't like that information to be out there, so it's really hard to know if your point about them "selling twice as fast" is accurate.

At the end of each month The Villages gives the details regarding days on market and average selling prices of re-sale homes in their little homes flyer that comes in the mail.

Altavia

11-16-2022, 10:00 PM

.

As far as the 2nd point, again, while that may be true, we never get any information from that site as to what the final sale price was. We get asking price, and then once the sale is pending, there is no more information to be had, unlike the MLS listings for which, upon closing, the sales price becomes readily available on the internet via sites like Zillow and Trulia.

Sell price is available on the Sumter County web site.

DAVES

11-17-2022, 11:44 AM

At the end of each month The Villages gives the details regarding days on market and average selling prices of re-sale homes in their little homes flyer that comes in the mail.

That is public information, it is or used to show on Zillow.
I am neither buying or selling but has anyone but me noticed prices like 389,729. Where do these strange prices come from? What happened to pricing in magic numbers such as 389,999. This feeding frenzy seems to be in most places.

For people complaining about rising prices here, Hopefully, assuming you had a previous home that too has gone up.

DAVES

11-17-2022, 11:56 AM

Home sales where the buyer has a contingency on the sale of the buyers home is starting to introduce delays.

I doubt contingency's are permitted for new home sales.

As far as AGREEING to sell a home based on the buyer being able to sell theirs, I would not accept such a contract unless I was getting SIGNIFICANT damages if the deal was not completed-CASH HELD BY ME..

I am not looking to buy or sell but seems people are hoping to win a lottery to buy a home. Surely if they accept a bid and you then try to put in a contingency when you sell your other home, they just go to the next buyer.

eweissenbach

11-18-2022, 11:46 AM

That is public information, it is or used to show on Zillow.
I am neither buying or selling but has anyone but me noticed prices like 389,729. Where do these strange prices come from? What happened to pricing in magic numbers such as 389,999. This feeding frenzy seems to be in most places.

For people complaining about rising prices here, Hopefully, assuming you had a previous home that too has gone up.

The Villages has always priced new homes with odd numbers like that. I would assume it is a marketing strategy to make the prices appear to be the fairest possible price.

charlie1

11-18-2022, 12:26 PM

The Villages has always priced new homes with odd numbers like that. I would assume it is a marketing strategy to make the prices appear to be the fairest possible price.

Actually, they have a base price and then a list price for each option added to the house.
When we were looking at new houses before buying here, we found more builders that are sticky with fixed prices for options that are based on their cost and markup percent. They do not round the price of the options. They just add the cost of each individual option to get the final price of the home. Thus, the odd selling prices.

dewilson58

11-18-2022, 12:45 PM

They do not round the price of the options. They just add the cost of each individual option to get the final price of the home. Thus, the odd selling prices.

Bingo

Michael 61

11-18-2022, 02:02 PM

Actually, they have a base price and then a list price for each option added to the house.
When we were looking at new houses before buying here, we found more builders that are sticky with fixed prices for options that are based on their cost and markup percent. They do not round the price of the options. They just add the cost of each individual option to get the final price of the home. Thus, the odd selling prices.

As a recent buyer of a new home, I can confirm this. I have a base price for my home, then line-items for any add-ones, and a surcharge for an over-sized and premium lot.

Bilyclub

11-18-2022, 02:57 PM

North DeLuna is not a good location cart wise, especially if you want to get to Fenney.

Babubhat

11-18-2022, 07:18 PM

Grabbed a new home in Richmond on premium lot. It was over 100k less than a pre owned near 466a. No brainer.

Don’t have to deal with ac and roof replacement issues

Altavia

11-18-2022, 07:45 PM

North DeLuna is not a good location cart wise, especially if you want to get to Fenney.

Really?

The difference is an additional 0.5 mi to the Turnpike bridge.

Much of Richmond is built on former swamp land the Villages drained and added 10ft of dirt.

There are no Championship courses to flood in an extreme rain event.

Attention Required! | Cloudflare (https://www.topozone.com/florida/sumter-fl/city/wildwood-country-resort-mobile-home-park/)

JohnN

11-19-2022, 10:35 AM

VLS is NOT primarily new homes. In fact, it's almost 3 to 1 the other way.

I'm talking sales, not listings

melpetezrinski

11-20-2022, 08:03 AM

I'm talking sales, not listings

Back when we were selling our villa in early 2022 as a FSBO, I compiled data of homes under $325k that contained new construction, listed, pending, sold and by realtor. For 87 days, there were 5 FSBO's sold, 114 sold on the MLS, 82 sold on the VLS and 159 new homes sold. This is when St. Johns was starting and the SW part of Hawkins opened up.

DAVES

11-20-2022, 11:37 AM

The Villages has always priced new homes with odd numbers like that. I would assume it is a marketing strategy to make the prices appear to be the fairest possible price.

Does not effect me. We bought 10 years ago and are not looking to move. As stated I happened to notice the,"odd pricing." As to always, I looked, our home was priced in what is normal numbers it was xxx,995. I find this place, how it is run interesting. Some people will complain about most anything. This place is amazing AND IT WORKS.