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View Full Version : The Villages Home Prices during 2008 Great Recession/ Views on Current Downside Risk


Villager2be
02-25-2024, 05:58 PM
Hi All,

Hoping to get some feedback from those who have been around TV since the 2008/09 Great Recession, I have been getting "pro" feedback that the 08-09 housing crash nationally, and in Florida specifically, essentially had zero impact on the Villages market, that TV was a rare exception and was essentially unscathed, can that possibly be true?

The same source also indicates that I am practically assured that any new home that I buy now will be worth ~$100k more in a year once the neighborhood/area is completed and more mature. As great as that would be, I am not drinking that kool-aid (yet, lol!), especially as it seems the market has been softening a bit over the last year (can it be?).

Given your experience, and how far the market has come, would you even be concerned about downside risk? I am buying as a snowbird owner/resident but also hope to recoup expenses by hosting for the remainder of the year via short term rentals through a property management company. I'd rather not buy at a market peak, I would just rent for now if I thought that was the case.

new peeps
02-25-2024, 06:57 PM
We was looking in the villages in 2008 and signed our contract February of 2009. We closed May 1st 2009. We was looking in Tennessee and North Carolina also. The Villages slowed down on sales, but the prices was holding and only being discounted about 5% from the asking price. It was scary at the time as this was the only place that houses was not dropping in price and we wanted to buy. That was unreal compared to the market in Georgia. I seen houses auctioned off for $30 Thousand dollars. Those same house sold 7 years later for $130 Thousand, Now those houses are selling for $300 thousand. Facts. The only advantage in early 2009 in the villages was we got to put a small deposit down to hold a lot on the pond for 24 hours to make sure we wanted it. We was told we had a year to build. Then we was told we could get 5% off on the house and options we wanted also if we signed a contract to build. We did and the house was built in 50 days. My neighbor said when he bought he had two hours to decide if he wanted the house he was shown and if not the next in line got the same offer. I understand your reservations, But our Only regret is not coming sooner.

twoplanekid
02-25-2024, 07:30 PM
Look at the sales data from the Villages to make you guess as to what the future may hold. We purchased a new house in Dec. of 2014.

Year sold average price

2001 2,074 156,000
2002 2,260 163,000
2003 3,329 168,000
2004 3,955 204,000
2005 4,263 232,000
2006 3,935 257,000
2007 2,403 251,000
2008 2,236 231,000
2009 2,115 229,000
2010 2,208 231,000
2011 2,307 241,000
2012 2,850 244,000
2013 3,419 271,000
2014 2,601 304,000
2015 2,294 304,000
2016 1,966
2017 2,231
2018 2,134 281,000
2019 2,429 307,000
2020 2,452
2021 4,004
2022 3,923
2023 3,029 410,000

rustyp
02-25-2024, 07:43 PM
Look at the sales data from the Villages to make you guess as to what the future may hold. We purchased a new house in Dec. of 2014.

Year sold average price

2001 2,074 156,000
2002 2,260 163,000
2003 3,329 168,000
2004 3,955 204,000
2005 4,263 232,000
2006 3,935 257,000
2007 2,403 251,000
2008 2,236 231,000
2009 2,115 229,000
2010 2,208 231,000
2011 2,307 241,000
2012 2,850 244,000
2013 3,419 271,000
2014 2,601 304,000
2015 2,294 304,000
2016 1,966
2017 2,231
2018 2,134 281,000
2019 2,429 307,000
2020 2,452
2021 4,004
2022 3,923
2023 3,029 410,000

Is this new houses ? However here is what the data provides:

House prices decreased by 11 %
House sales decreased by a whopping 46 %.

Villager2be
02-25-2024, 07:43 PM
Thank you NP, appreciate that feedback, that is amazing!

Villager2be
02-25-2024, 07:48 PM
Thanks for these stats Rusty, very helpful and I agree, those numbers showed a lot of resilience considering what most other areas of the state and county underwent! Seems like most people just held their ground and I would imagine new construction slowed down a lot.

OrangeBlossomBaby
02-25-2024, 08:00 PM
Hi All,

Hoping to get some feedback from those who have been around TV since the 2008/09 Great Recession, I have been getting "pro" feedback that the 08-09 housing crash nationally, and in Florida specifically, essentially had zero impact on the Villages market, that TV was a rare exception and was essentially unscathed, can that possibly be true?

The same source also indicates that I am practically assured that any new home that I buy now will be worth ~$100k more in a year once the neighborhood/area is completed and more mature. As great as that would be, I am not drinking that kool-aid (yet, lol!), especially as it seems the market has been softening a bit over the last year (can it be?).

Given your experience, and how far the market has come, would you even be concerned about downside risk? I am buying as a snowbird owner/resident but also hope to recoup expenses by hosting for the remainder of the year via short term rentals through a property management company. I'd rather not buy at a market peak, I would just rent for now if I thought that was the case.

If you rent, you not only get no profit from your investment, you lose 100% of your investment. You never see it again.

If your goal is to make money, then don't ever EVER rent, anything, ever. It's a guaranteed loss.

There is no guarantee that your purchase here will increase in value at all, let alone by $100,000 in a year. It also depends on what house you're looking at. A home that cost you $980,000 to buy, might certainly go up in value by $100k in a year. A home that cost you $200,000 to buy, will probably not go up in value that much in a year, or even in two years.

Properties in the Villages SEEM to have a better chance of stability in value. And don't forget - if the property you buy this year goes up $100k, and you decide to sell it to make that extra $100k - well you'll be out of a home, and need to buy another one. Problem is - the value of the other one will have gone up as well. So you might end up losing in the end.

Real estate futures is not a good investment if you're looking at a retirement home that you actually intend to live in, even part of the year.

Villager2be
02-25-2024, 08:58 PM
If you rent, you not only get no profit from your investment, you lose 100% of your investment. You never see it again.

If your goal is to make money, then don't ever EVER rent, anything, ever. It's a guaranteed loss.

Properties in the Villages SEEM to have a better chance of stability in value. And don't forget - if the property you buy this year goes up $100k, and you decide to sell it to make that extra $100k - well you'll be out of a home, and need to buy another one. Problem is - the value of the other one will have gone up as well. So you might end up losing in the end.


Good point, OrangeB, with regard to renting. It is just that, in my case, we'd only initially snowbird for 2 months out of the year, and if TV home prices were declining, it might be better to "lose" 2 months of paying rent rather than see a larger (maybe $10k-$20k+) paper loss on a purchase, not to mention the responsibilities (headache) of long distance ownership to boot.

asianthree
02-25-2024, 09:13 PM
Our first stay was 2007, houses were selling in hours, and we chose to wait out the craziness. We had family here so spent good amount of time, finally bought in 2010, no discounts, second house 2012, no discounts, 2014 preowned.

Owning three homes here at the same time, we had zero problems finding long term tenants. Profits from selling far and above any other region. One just needs to decide can you sit on any house, until market swings back to the crazy 2007, and 2020 prices

OrangeBlossomBaby
02-25-2024, 09:36 PM
Good point, OrangeB, with regard to renting. It is just that, in my case, we'd only initially snowbird for 2 months out of the year, and if TV home prices were declining, it might be better to "lose" 2 months of paying rent rather than see a larger (maybe $10k-$20k+) paper loss on a purchase, not to mention the responsibilities (headache) of long distance ownership to boot.

Since you'll be living somewhere else for 10 months out of the year, paying taxes, not eligible for any homesteader or senior or veterans breaks down here, you're probably better off just renting. In fact, if you choose to rent - you could rent furnished places that are managed by a solid property management company. And switch around every year or every few years. Find an area you really love, so that if you decide to live here year-round, you'll have already narrowed down the type of home, area you want to live in, activities that you are most drawn to, prices of homes, etc. etc.

shaw8700@outlook.com
02-25-2024, 09:47 PM
Op, nothing will tell what will happen in the future. How could we predict the Covid problem? Or what caused the financial failures in 2008? Who knows what’s next. My suggestion, if you want to be a landlord go ahead and buy. If you don’t, rent for two months every year.

Randall55
02-26-2024, 04:39 AM
If you rent, you not only get no profit from your investment, you lose 100% of your investment. You never see it again.

If your goal is to make money, then don't ever EVER rent, anything, ever. It's a guaranteed loss.

There is no guarantee that your purchase here will increase in value at all, let alone by $100,000 in a year. It also depends on what house you're looking at. A home that cost you $980,000 to buy, might certainly go up in value by $100k in a year. A home that cost you $200,000 to buy, will probably not go up in value that much in a year, or even in two years.

Properties in the Villages SEEM to have a better chance of stability in value. And don't forget - if the property you buy this year goes up $100k, and you decide to sell it to make that extra $100k - well you'll be out of a home, and need to buy another one. Problem is - the value of the other one will have gone up as well. So you might end up losing in the end.

Real estate futures is not a good investment if you're looking at a retirement home that you actually intend to live in, even part of the year. It is possible to make more money in investments than real estate. This is true today because interest rates are high and stock market is soaring. When interest rates are low, you should buy real estate.

We sold our home south of 44 for a sizeable profit. We are now renting. Our social security checks cover ALL of our expenses. As an added bonus, we have no maintenance. Our lives are carefree.

Our money is secure and earning high interest. We are waiting to see what happens with real estate in the Villages before we buy. Right now, new home prices are falling and preowned homes are sitting. IMO not a good time to buy a home.

Villager2be
02-26-2024, 08:16 AM
Thanks All, your feedback is much appreciated

Normal
02-26-2024, 08:32 AM
It is all about location, model and the date of purchase. A majority of homes are interior “kissing lanais “. If those are in a new area I wouldn’t be looking for any large return any time in the foreseeable future because of the large inventory of new homes. If you buy a view lot and custom home, you have a much better chance of low loss or nice gains in funds.

If you are buying, I would use Realtor.com to get quick numbers on purchase prices, years and overall history. It is a buyers market today. You can and should demand inspections etc to make sure you get what you pay for. Square footage numbers and location tell a lot about what you should pay.

Cuervo
02-27-2024, 05:24 AM
Even though the TV is a good bet, there is no sure thing, I owned a number of rentals in N.Y. over the years and the market can turn for a number of reasons. There is a somewhat funny movie titled "The Big Short". I would watch it if I was you.

AZ SLIM
02-27-2024, 05:41 AM
The ave sale price in 2001 of $156k would be equivalent to about $272k today. I was just curious, so I looked it up. Probaly doesn't help much, but it's a little interesting.

$156,000 in 2001 → 2024 | Inflation Calculator (https://www.in2013dollars.com/us/inflation/2001?amount=156000)

MikeN
02-27-2024, 06:32 AM
We bought in Citrus Grove about a year ago. Now concerned about all the lower priced homes being built just south of us now at a much lower price point. Of course they are much closer together, don’t have screens, fans etc but what do people look for, a lower price or how a house is appointed? Now TV is doing a price drop on them. Am I concerned about our house value, absolutely If something were to happen and we needed to sell I’m thinking we’re going to lose $100K

Sandy and Ed
02-27-2024, 06:35 AM
No data just opinion: TV has reached the tipping point.

dewilson58
02-27-2024, 06:36 AM
Hi All,

Maybe it was a slight dip in pricing in TV.
Nothing like the rest of the nation.

More than "price cuts", it was a reversal of extreme price increases of prior years.
The prior three/four years, TV house prices were increasing at a crazy rate.
The reversal just returned pricing to pre-crazy.

Smells like what is going on today.

:shrug:

Sully2023
02-27-2024, 06:38 AM
Hi All,

Hoping to get some feedback from those who have been around TV since the 2008/09 Great Recession, I have been getting "pro" feedback that the 08-09 housing crash nationally, and in Florida specifically, essentially had zero impact on the Villages market, that TV was a rare exception and was essentially unscathed, can that possibly be true?

The same source also indicates that I am practically assured that any new home that I buy now will be worth ~$100k more in a year once the neighborhood/area is completed and more mature. As great as that would be, I am not drinking that kool-aid (yet, lol!), especially as it seems the market has been softening a bit over the last year (can it be?).

Given your experience, and how far the market has come, would you even be concerned about downside risk? I am buying as a snowbird owner/resident but also hope to recoup expenses by hosting for the remainder of the year via short term rentals through a property management company. I'd rather not buy at a market peak, I would just rent for now if I thought that was the case.

I looked at living in the villages over five years. I watched the Iris model increase in value over $75k in the course of just one year.

I bought over two years ago. My house can sell more than $150k over what I paid if I decided to sell today. In 2008 the villages offered “furniture packages” for the new home sales. Look at the statistics of home sales over the years. This place sells itself. Who does not want a piece of heaven?

With that said, I would take a close look at the location and model before buying. What’s the worse case, you get a great home you enjoy living in.

nn0wheremann
02-27-2024, 07:08 AM
Hi All,

Hoping to get some feedback from those who have been around TV since the 2008/09 Great Recession, I have been getting "pro" feedback that the 08-09 housing crash nationally, and in Florida specifically, essentially had zero impact on the Villages market, that TV was a rare exception and was essentially unscathed, can that possibly be true?

The same source also indicates that I am practically assured that any new home that I buy now will be worth ~$100k more in a year once the neighborhood/area is completed and more mature. As great as that would be, I am not drinking that kool-aid (yet, lol!), especially as it seems the market has been softening a bit over the last year (can it be?).

Given your experience, and how far the market has come, would you even be concerned about downside risk? I am buying as a snowbird owner/resident but also hope to recoup expenses by hosting for the remainder of the year via short term rentals through a property management company. I'd rather not buy at a market peak, I would just rent for now if I thought that was the case.
The house next to mine was purchased in ‘05, used as a long term rental, and sold in ‘20 at a loss. Price bubbles pop. Caveat Emptor.

Normal
02-27-2024, 07:23 AM
Markets go up and down. You will for sure see further dips everywhere, houses were overpriced and interest rates were crazy low.

Post pandemic brought demand from short supply

Demand rose prices

Glut from effort to generate inventory with high interest are just starting to bring prices back down

IMHO prices should end declines by late summer, maybe early fall. Locally a red flag that is on most radar screens is the lack of sales during peak season. If March continues the same pattern, the market may be a little uglier than originally thought. The Developer has placed a lot of effort into branding Eastport? We shall see? No matter what effort is placed into branding and marketing, the organic part of the economy is still key.

Pat2015
02-27-2024, 07:26 AM
I looked at living in the villages over five years. I watched the Iris model increase in value over $75k in the course of just one year.

I bought over two years ago. My house can sell more than $150k over what I paid if I decided to sell today. In 2008 the villages offered “furniture packages” for the new home sales. Look at the statistics of home sales over the years. This place sells itself. Who does not want a piece of heaven?

With that said, I would take a close look at the location and model before buying. What’s the worse case, you get a great home you enjoy living in.
I sold a house south of 44 last April that I built on a really nice view lot and held for 2 years. I almost doubled my purchase price which was a huge profit. That cash was put into another new build where I think there’s a substantial profit to made on the new house. View lots really help to sell a house here in TV. Good luck to the OP in your decision.

bowlingal
02-27-2024, 07:38 AM
real estate will ALWAYS increase. May take a few years , like 2008, but will ALWAYS increase

spinner1001
02-27-2024, 07:40 AM
Hi All,

Hoping to get some feedback from those who have been around TV since the 2008/09 Great Recession, I have been getting "pro" feedback that the 08-09 housing crash nationally, and in Florida specifically, essentially had zero impact on the Villages market, that TV was a rare exception and was essentially unscathed, can that possibly be true?

The same source also indicates that I am practically assured that any new home that I buy now will be worth ~$100k more in a year once the neighborhood/area is completed and more mature. As great as that would be, I am not drinking that kool-aid (yet, lol!), especially as it seems the market has been softening a bit over the last year (can it be?).

Given your experience, and how far the market has come, would you even be concerned about downside risk? I am buying as a snowbird owner/resident but also hope to recoup expenses by hosting for the remainder of the year via short term rentals through a property management company. I'd rather not buy at a market peak, I would just rent for now if I thought that was the case.

Comparing the present to the 2007-2009 global financial crisis (GFC) for home prices is not a very good benchmark. At the present, the US economy is doing fairly well. Home prices have declined or been soft because of rising/higher mortgage rates mainly. In the GFC, interest rates were falling and a lot of other things were happening. (If you are really interested in the GFC, you might read: The Global Financial Crisis | Explainer | Education | RBA (https://www.rba.gov.au/education/resources/explainers/the-global-financial-crisis.html))

For the present, I believe home prices will be strongly affected by interest rates for home loans. No one knows what interest rates will be in the future. But the days of cheap money (the Fed’s near zero interest rate policy) are likely gone, which means, if I am right, home price appreciation overall will be lower compared to the recent past. For home prices in The Villages, I don’t know. They could be stronger compared to national averages because the local dynamics differ. Regardless, I personally do not believe that home prices in The Villages will collapse but the days of annual 10%+ home price appreciation overall are likely over for now. YMMV.

rsmurano
02-27-2024, 08:04 AM
A house is an asset not an investment. You make no money on a house unless you sell it, but the house will cost you thousands a years in taxes, maintenance, fees, and insurance. Investments make me money every day.
I’ll never be a landlord ever again, I make much more money in the stock market, sleep easy at night, and when I want out, it costs me $5 and takes 10 seconds. When 2008 hit, I had friends that had rental property that dropped 50% in value and they couldn’t sell the property, and if they could sell, it cost them 5-6% on top of that.
But, I think the villages is the best place to buy a home and make money in the long run over most other cities I’ve lived in or know. The villages is a bubble where you aren’t going to get the riots/major crime that other places have which is a plus and millions of people are moving here in Florida, so there is demand here

Mrfriendly
02-27-2024, 08:15 AM
Hi All,

Hoping to get some feedback from those who have been around TV since the 2008/09 Great Recession, I have been getting "pro" feedback that the 08-09 housing crash nationally, and in Florida specifically, essentially had zero impact on the Villages market, that TV was a rare exception and was essentially unscathed, can that possibly be true?

The same source also indicates that I am practically assured that any new home that I buy now will be worth ~$100k more in a year once the neighborhood/area is completed and more mature. As great as that would be, I am not drinking that kool-aid (yet, lol!), especially as it seems the market has been softening a bit over the last year (can it be?).

Given your experience, and how far the market has come, would you even be concerned about downside risk? I am buying as a snowbird owner/resident but also hope to recoup expenses by hosting for the remainder of the year via short term rentals through a property management company. I'd rather not buy at a market peak, I would just rent for now if I thought that was the case.

You will sleep better for the two months renting a home. The more you are here the more things make sense re home buying

SouthJerseyGirl
02-27-2024, 08:51 AM
It is possible to make more money in investments than real estate. This is true today because interest rates are high and stock market is soaring. When interest rates are low, you should buy real estate.

We sold our home south of 44 for a sizeable profit. We are now renting. Our social security checks cover ALL of our expenses. As an added …bonus, we have no maintenance. Our lives are carefree.
Appwned to buy
Our money is secure and earning high interest. We are waiting what eveto see what happens with real estate in the Villages before we buy. Right now, new home prices are falling and preowned homes are sitting. IMO not a good time to buy a home.

Hmmm…Seems like it’s perfect time to buy right now if prices are down and inventory is sitting around.

What happened to “buy low, sell high?

Normal
02-27-2024, 09:11 AM
Hmmm…Seems like it’s perfect time to buy right now if prices are down and inventory is sitting around.

What happened to “buy low, sell high?

True, but the prices are nowhere near their lows. I would stay off the game board until prices ARE low. The real estate beast moves slow. If you can afford to, sit and wait?

kkingston57
02-27-2024, 09:25 AM
Hi All,

Hoping to get some feedback from those who have been around TV since the 2008/09 Great Recession, I have been getting "pro" feedback that the 08-09 housing crash nationally, and in Florida specifically, essentially had zero impact on the Villages market, that TV was a rare exception and was essentially unscathed, can that possibly be true?

The same source also indicates that I am practically assured that any new home that I buy now will be worth ~$100k more in a year once the neighborhood/area is completed and more mature. As great as that would be, I am not drinking that kool-aid (yet, lol!), especially as it seems the market has been softening a bit over the last year (can it be?).

Given your experience, and how far the market has come, would you even be concerned about downside risk? I am buying as a snowbird owner/resident but also hope to recoup expenses by hosting for the remainder of the year via short term rentals through a property management company. I'd rather not buy at a market peak, I would just rent for now if I thought that was the case.

Like all other places TV homes lost value in 2008 etc but not as bad as other areas of the country including Florida. There are less mortgages in TV than in other areas of the country. When prices started to sky rocket 3 years ago, they did not sky rocket as high as other areas. That old biz line supply and demand does control. There is still a lot of land in Central Florida. Demand should remain good in Central Florida due to fact that people from coastal area of Florida are moving here due to high insurance prices(3-5X more on the coast)

ellenwelsh
02-27-2024, 09:26 AM
Moving to The Villages as a retiree in 2005 it became my job to enjoy life and income (from pension and annuity) which is guaranteed. Further, making income/profit is not the priority, spending it and enjoying it is now the goal. The home is a place to hang your hat, so to speak. The home is a quiet place, the personal sanctuary. Money is only made on the house when it is sold; and selling and moving are such a pain in the a** I plan on never doing it again.

ElDiabloJoe
02-27-2024, 10:19 AM
Moving to The Villages as a retiree in 2005 it became my job to enjoy life and income (from pension and annuity) which is guaranteed. Further, making income/profit is not the priority, spending it and enjoying it is now the goal. The home is a place to hang your hat, so to speak. The home is a quiet place, the personal sanctuary. Money is only made on the house when it is sold; and selling and moving are such a pain in the a** I plan on never doing it again.

I agree, I am not in it to make money any longer. I want to enjoy my comfortable life. I am not trying to build family generational wealth - that is neither my goal nor my responsibility. If the houses make a profit when I die and my heirs get them, then yay for them.

As long as they hold some measure of value, then I am happy with the choices. I am enjoying summers on the lake and winters in the sun. I can always sell one home or the other (or both) and fund nursing home or in-home health care if I need to do so with out tapping income (pensions, ss) or investment funds.


real estate will ALWAYS increase. May take a few years , like 2008, but will ALWAYS increase

Over time, yes. I have NEVER lost money on a house, and have usually made a lot of money on them (and lived rent-free). My experiences:

Bought $227,000, sold four years later for $369,000
Took that equity as a down payment and remodel fund and bought the next:

Bought $560,000, sold six years later for $1,015,000.
Took that equity as a down payment and remodel fund and bought the next:

$920,000, sold 10 years later for $1,375,000.
Took that equity as a down payment and remodel fund and bought the next:

$705,000, currently valued based on comps 5 years later at $1,250,000, 90% equity.

This may not be what others would do, or make enough money to satisfy some finance types, but it funds my pleasant and comfortable (and early!) retirement while allowing plenty of cushion if I need to liquidate or tap investments to survive dire straights or depression-economies.

As a last thought - Even if you bought at the highest outrageous peak of 2006 / 2007 and you were underwater and lost tons of money (on paper) for a decade, those prices at 2006 /2007 would be absolute bargains today that any of us would jump at. After a certain age, it's all about long-term holding and enjoyment. Even if I never recouped the cost and my heirs only made $250,000 instead of $500,000, who cares. That's a quarter-million they wouldn't otherwise see or get.

YMMV

Causey
02-27-2024, 10:34 AM
We are retired, with guaranteed income for the rest of our lives. We are comfortable on that income. I do not worry about making money anymore, that's why I am retired. Just write the check and enjoy your retirement life in The Villages.

DebMil
02-27-2024, 10:45 AM
Hi All,

Hoping to get some feedback from those who have been around TV since the 2008/09 Great Recession, I have been getting "pro" feedback that the 08-09 housing crash nationally, and in Florida specifically, essentially had zero impact on the Villages market, that TV was a rare exception and was essentially unscathed, can that possibly be true?

The same source also indicates that I am practically assured that any new home that I buy now will be worth ~$100k more in a year once the neighborhood/area is completed and more mature. As great as that would be, I am not drinking that kool-aid (yet, lol!), especially as it seems the market has been softening a bit over the last year (can it be?).

Given your experience, and how far the market has come, would you even be concerned about downside risk? I am buying as a snowbird owner/resident but also hope to recoup expenses by hosting for the remainder of the year via short term rentals through a property management company. I'd rather not buy at a market peak, I would just rent for now if I thought that was the case.

Hello, we bought 2 years ago.
We bought a patio villa as we were here on a quick weekend. Our homes are quite cute, but we are looking to upside a bit.

If you buy new, you can't resell for at least one year. And for capital gains you need to wait 2 years.
Well, we have waited 2 years. Our patio villas have appreciated about 50k in 2 years. However, by the we pay commissions and fees, we can't afford to move to a bit larger home. These patio villas are perfect for rentals from what I hear. Most everyone on our block is full time.

melpetezrinski
02-27-2024, 02:22 PM
A house is an asset not an investment. You make no money on a house unless you sell it, but the house will cost you thousands a years in taxes, maintenance, fees, and insurance. Investments make me money every day.
I’ll never be a landlord ever again, I make much more money in the stock market, sleep easy at night, and when I want out, it costs me $5 and takes 10 seconds. When 2008 hit, I had friends that had rental property that dropped 50% in value and they couldn’t sell the property, and if they could sell, it cost them 5-6% on top of that.
But, I think the villages is the best place to buy a home and make money in the long run over most other cities I’ve lived in or know. The villages is a bubble where you aren’t going to get the riots/major crime that other places have which is a plus and millions of people are moving here in Florida, so there is demand here

Why were you a landlord, was it to make money? If so, how did you intend to make that money, through income, capital appreciation or both?

Villager2be
02-27-2024, 07:15 PM
If you are buying, I would use Realtor.com to get quick numbers on purchase prices, years and overall history. .

Thanks Normal, can you please elaborate how to use realtor.com to gather historical sales statistics? I see pretty broad market stats, but not anyplace you can drill down sales history. Can't seem to DM you.

manaboutown
02-27-2024, 07:27 PM
Thanks Normal, can you please elaborate how to use realtor.com to gather historical sales statistics? I see pretty broad market stats, but not anyplace you can drill down sales history. Can't seem to DM you.

Here it is on Zillow if that helps. Access to this page has been denied (https://www.zillow.com/home-values/7403/the-villages-fl/)

Normal
02-27-2024, 09:24 PM
Thanks Normal, can you please elaborate how to use realtor.com to gather historical sales statistics? I see pretty broad market stats, but not anyplace you can drill down sales history. Can't seem to DM you.

Just enter the address in question. It gives sale dates and prices paid. It also lists taxes etc. it is a very handy site.