Home Prices Coming Down Nicely

[Normal]

For our housing correction turn-around to happen in less than a year seems highly improbable and unprecedented, but now is the time to embrace the sunny side. The sunny side is the more realistic market will eventually improve our economy. The service sector could see a large boost and populations in the local area could surge because of required workers and housing. This would bolster micro economies and local innovation. A younger demographic is sorely needed here.

The developer seems to embrace this reality in new build offerings with stucco kissing lanais at about 225-35 a square and stick vinyl at about 205. This is a nice drop. Many villas are under 300. You can see all this on Homefinder - The Villages(R) Homes and Villas for Sale (https://www.thevillages.com/homefinder/?new&status&lng=-81.93593570659338&lat=28.72567999690417&lvl=1) thevillages.com new homes section.

Perhaps the COVID shock to our economy has finally thawed.:pepper2:

[vintageogauge]

Many of these "price drop" homes also have "feature drops" such as eliminating shower doors, smaller showers, dual sinks in master, blinds, washer/dryer, minimal number of electrical outlets, much less finished outdoor space, smaller and cheaper trim, shorter garages, undesirable lots/locations, lower quality everything in them. It's all smoke and mirrors and you get only what you pay for. They still build higher quality units with more features in them but you'll pay more per sq. ft. for them. Take a good look.

[Normal]

Many of these "price drop" homes also have "feature drops" such as eliminating shower doors, smaller showers, dual sinks in master, blinds, washer/dryer, minimal number of electrical outlets, much less finished outdoor space, smaller and cheaper trim, shorter garages, undesirable lots/locations, lower quality everything in them. It's all smoke and mirrors and you get only what you pay for. They still build higher quality units with more features in them but you'll pay more per sq. ft. for them. Take a good look.

I agree somewhat, but not on all new homes. The prices haven’t hit the bottom totally yet either. Besides, the main idea is to get a better economy going in the area with a somewhat equilibrated demographic.

Unfortunately, the rear view mirror will be the best “tell all”.

[Altavia]

Many of these "price drop" homes also have "feature drops" such as eliminating shower doors, smaller showers, dual sinks in master, blinds, washer/dryer, minimal number of electrical outlets, much less finished outdoor space, smaller and cheaper trim, shorter garages, undesirable lots/locations, lower quality everything in them. It's all smoke and mirrors and you get only what you pay for. They still build higher quality units with more features in them but you'll pay more per sq. ft. for them. Take a good look.

We had planned on looking into a new build in the Eastport area but are no longer interested due to the lack of options at the "Street of Dissapointments" and to make additions/changes.

[vintageogauge]

We had planned on looking into a new build in the Eastport area but are no longer interested due to the lack of options at the "Street of Dissapointments" and to make additions/changes.

That is how they keep the prices down, not like their selling the same product at a lower cost, they are different and not in a good way.

[Altavia]

That is how they keep the prices down, not like their selling the same product at a lower cost, they are different and not in a good way.

If looking for a higher end home, it is making pre-owned look more attractive.

[Normal]

If looking for a higher end home, it is making pre-owned look more attractive.

If both were the same square footage and same construction technique you would have some bond paid, improvements (solar tubes, painted garage, landscaping etc) it is a no brained. The only thing to watch out for in that hypothetical is the age of things. Roofs are scary, ACs cost money, cabinets aren’t cheap. Probably ideal would be a home about 3 years old?

[Cuervo]

I've bought many homes either to live it or as rentals and if there is anything I've learned is prices will go up and down for many reasons. I came to ignore the market and bought and sold when it met my needs.

[graciegirl]

For our housing correction turn-around to happen in less than a year seems highly improbable and unprecedented, but now is the time to embrace the sunny side. The sunny side is the more realistic market will eventually improve our economy. The service sector could see a large boost and populations in the local area could surge because of required workers and housing. This would bolster micro economies and local innovation. A younger demographic is sorely needed here.

The developer seems to embrace this reality in new build offerings with stucco kissing lanais at about 225-35 a square and stick vinyl at about 205. This is a nice drop. Many villas are under 300. You can see all this on Homefinder - The Villages(R) Homes and Villas for Sale (https://www.thevillages.com/homefinder/?new&status&lng=-81.93593570659338&lat=28.72567999690417&lvl=1) thevillages.com new homes section.

Perhaps the COVID shock to our economy has finally thawed.:pepper2:

The increase of home prices is not limited to The Villages, or to Florida. And we live in the most desirable place for this age group. The builder has always embraced the reality and this place has become more expensive because a lot of people want to live here. The price is and will be what the market can bear. Prices hurt the seekers, except that their present home is also worth more. Those who win now own property here.

As is true everywhere, we too need workers who want to work, not necessarily younger ones, just workers.

[margaretmattson]

That is how they keep the prices down, not like their selling the same product at a lower cost, they are different and not in a good way.The new homes are solid slabs of concrete. There is not much you can change. I am interested in finding out how much it will cost to put in extra outlets after close. Can it be done? Or, will the electricians have to wire from the outside with tubing?

[sallyg]

Many of these "price drop" homes also have "feature drops" such as eliminating shower doors, smaller showers, dual sinks in master, blinds, washer/dryer, minimal number of electrical outlets, much less finished outdoor space, smaller and cheaper trim, shorter garages, undesirable lots/locations, lower quality everything in them. It's all smoke and mirrors and you get only what you pay for. They still build higher quality units with more features in them but you'll pay more per sq. ft. for them. Take a good look.
True! You forgot gutters, downspouts, door pulls on kitchen cupboards, low quality carpet, appliances, screens, sliders...
Plan on spending multiple thousands to finish your low priced new house.

[Altavia]

The new homes are solid slabs of concrete. There is not much you can change. I am interested in finding out how much it will cost to put in extra outlets after close. Can it be done? Or, will the electricians have to wire from the outside with tubing?

They way they finish the exterior walls and wiring is no different than concrete block so no problem.

[Topspinmo]

For our housing correction turn-around to happen in less than a year seems highly improbable and unprecedented, but now is the time to embrace the sunny side. The sunny side is the more realistic market will eventually improve our economy. The service sector could see a large boost and populations in the local area could surge because of required workers and housing. This would bolster micro economies and local innovation. A younger demographic is sorely needed here.

The developer seems to embrace this reality in new build offerings with stucco kissing lanais at about 225-35 a square and stick vinyl at about 205. This is a nice drop. Many villas are under 300. You can see all this on Homefinder - The Villages(R) Homes and Villas for Sale (https://www.thevillages.com/homefinder/?new&status&lng=-81.93593570659338&lat=28.72567999690417&lvl=1) thevillages.com new homes section.

Perhaps the COVID shock to our economy has finally thawed.:pepper2:

Maybe they was over priced to begin with?

[Normal]

Maybe they was over priced to begin with?

Maybe, but then again the rest of Florida must have the same problem. Those prices have dropped as well.

[Randall55]

Maybe, but then again the rest of Florida must have the same problem. Those prices have dropped as well. I spent the last few days looking at homes in nearby communities. Prices have dropped significantly. Still, we are waiting. The end of September may see further reduction.

[Normal]

I spent the last few days looking at homes in nearby communities. Prices have dropped significantly. Still, we are waiting. The end of September may see further reduction.

Perhaps, but the bottom isn’t an abrupt point in time. The Fed is leaving borrowing rates alone for a while? Just look for the gradual consistent shift upward. It doesn’t happen overnight. If your timing the bottom, I would think you are close.

[rsmurano]

How can you say prices are coming down when there are still lotteries going on for a new home or lot? The only time TV has dropped the price of a home is when they can’t sell them. I have friends that are looking for a new house in Eastport area and they get notified that they have 2 hours to respond to buy it or it will go to the next person. The villages is getting around $300 sq ft on some of the new home models and that’s before adding in the land. But that’s cheaper than the $500 - $700 per sq ft in our area for a designer home. Cheap homes with Formica and carpet floors are $300 sq ft.

The villages sells everything they make, and if it starts to get a little slow, they will cut costs like putting in cheaper stuff in the house to bring the price down. Newell lots were a steal compared to lots from fennel for example, but you pay more for everything else.

When Florida is getting more and more people migrating here from other states, if it’s truly down in price, it won’t be long before they will be more expensive. On top of that, people migrating from NY, Calif, and other states will think the houses in TV are cheap and will have cash to buy.

[Normal]

How can you say prices are coming down when there are still lotteries going on for a new home or lot? The only time TV has dropped the price of a home is when they can’t sell them. I have friends that are looking for a new house in Eastport area and they get notified that they have 2 hours to respond to buy it or it will go to the next person. The villages is getting around $300 sq ft on some of the new home models and that’s before adding in the land. But that’s cheaper than the $500 - $700 per sq ft in our area for a designer home. Cheap homes with Formica and carpet floors are $300 sq ft.

The villages sells everything they make, and if it starts to get a little slow, they will cut costs like putting in cheaper stuff in the house to bring the price down. Newell lots were a steal compared to lots from fennel for example, but you pay more for everything else.

When Florida is getting more and more people migrating here from other states, if it’s truly down in price, it won’t be long before they will be more expensive. On top of that, people migrating from NY, Calif, and other states will think the houses in TV are cheap and will have cash to buy.

Before I go cherry picking with you, I will be direct by saying I hope it all does turn up well between your friends and the Developer and they get the house of their dreams.

Not everyone shares your optimism about what is happening in the current Villages area. Try selling your home right now if you live in Lady Lake, or any where north of 44. Try selling your house if you even live in St. Catherine or Fenney. The values of these homes have for the most part dropped. Then go to Dabney or even Newell and see for yourself how the Developer has had to drop the prices on those new homes.

As far as cash buyers from out of state, that is what is needed. The real issue is people in other states have to sell their homes in many cases and that is in a market where buyers are paying a 7% mortgage. It’s a buyer’s market in most cases..

There is a term we all have used,”Location, location, location.” Hopefully the new location of Moultrie Creek pans out for all. There are still about a hundred blank lots for sale there. Also your friends might want to try in the new Enclave Premier area as well. Almost all the lots are still for sale there. You mentioned Newell also, good news there is still one new house for sale in that area also.

If I were you I would take that 500-700 dollar a square foot offer.

[margaretmattson]

How can you say prices are coming down when there are still lotteries going on for a new home or lot? The only time TV has dropped the price of a home is when they can’t sell them. I have friends that are looking for a new house in Eastport area and they get notified that they have 2 hours to respond to buy it or it will go to the next person. The villages is getting around $300 sq ft on some of the new home models and that’s before adding in the land. But that’s cheaper than the $500 - $700 per sq ft in our area for a designer home. Cheap homes with Formica and carpet floors are $300 sq ft.

The villages sells everything they make, and if it starts to get a little slow, they will cut costs like putting in cheaper stuff in the house to bring the price down. Newell lots were a steal compared to lots from fennel for example, but you pay more for everything else.

When Florida is getting more and more people migrating here from other states, if it’s truly down in price, it won’t be long before they will be more expensive. On top of that, people migrating from NY, Calif, and other states will think the houses in TV are cheap and will have cash to buy.Look before you leap! Home prices are indeed falling. Moultrie Creek is the ONLY area that is selling. If you purchase a home because of a feverish demand NOW, you may have a difficult time selling if there is a need.

Those who bought homes while in high demand after covid are having a difficult time finding a buyer. On MLS, some new homes have been sitting on the market for three to six months. Price reductions of $50,000 are the norm.

Older homes are not faring much better. Patio Villas are seeing losses. Do your research before buying. Talk with an outside real estate agent who will tell you the truth. Not trying to scare you or talk you out of buying. I am merely trying to give you the full picture.

The Developer sells all homes? Lake Denham and Dabney new homes are sitting. My daughter and I went down at the end of November. 4OO new homes were available and 50 + had price reductions. We did not buy because we saw empty homes on many streets. In January, the Developer reduced the price of 200 additional homes. Nearing the end of March, 260 homes still remain unsold.

There is no telling what the Developer will do at the end of the summer when demand falls in Moultrie Creek area. There is enough land to develop for MANY YEARS. Imo, buyers should take things slow. Not jump on the band wagon with those who are purchasing believing they are winning the lottery. Reality check! Once Moultrie Creek homes are built, there will be many more villages with THOUSANDS of new homes. What is there to win?

[vintageogauge]

The new homes are solid slabs of concrete. There is not much you can change. I am interested in finding out how much it will cost to put in extra outlets after close. Can it be done? Or, will the electricians have to wire from the outside with tubing?

They still have studs on the inside and wires can be run.

[vintageogauge]

Before I go cherry picking with you, I will be direct by saying I hope it all does turn up well between your friends and the Developer and they get the house of their dreams.

Not everyone shares your optimism about what is happening in the current Villages area. Try selling your home right now if you live in Lady Lake, or any where north of 44. Try selling your house if you even live in St. Catherine or Fenney. The values of these homes have for the most part dropped. Then go to Dabney or even Newell and see for yourself how the Developer has had to drop the prices on those new homes.

As far as cash buyers from out of state, that is what is needed. The real issue is people in other states have to sell their homes in many cases and that is in a market where buyers are paying a 7% mortgage. It’s a buyer’s market in most cases..

There is a term we all have used,”Location, location, location.” Hopefully the new location of Moultrie Creek pans out for all. There are still about a hundred blank lots for sale there. Also your friends might want to try in the new Enclave Premier area as well. Almost all the lots are still for sale there. You mentioned Newell also, good news there is still one new house for sale in that area also.

If I were you I would take that 500-700 dollar a square foot offer.

You are mistaken about prices and selling in Fenney, they homes there are still commanding high prices and are selling quickly some within a week or two with the exception of those that are on undesirable lots which is the case in any village.

[Shipping up to Boston]

For our housing correction turn-around to happen in less than a year seems highly improbable and unprecedented, but now is the time to embrace the sunny side. The sunny side is the more realistic market will eventually improve our economy. The service sector could see a large boost and populations in the local area could surge because of required workers and housing. This would bolster micro economies and local innovation. A younger demographic is sorely needed here.

The developer seems to embrace this reality in new build offerings with stucco kissing lanais at about 225-35 a square and stick vinyl at about 205. This is a nice drop. Many villas are under 300. You can see all this on Homefinder - The Villages(R) Homes and Villas for Sale (https://www.thevillages.com/homefinder/?new&status&lng=-81.93593570659338&lat=28.72567999690417&lvl=1) thevillages.com new homes section.

Perhaps the COVID shock to our economy has finally thawed.:pepper2:

I’ve not read this entire thread but when you mention service jobs and a younger generation needed to fill those positions....that is exactly the issue across the nation. People don’t want to work....younger people as well. The demand that new construction will put on those high demand areas you noted will be dramatically insufficient to meet.

[Robbb]

How can you say prices are coming down when there are still lotteries going on for a new home or lot? The only time TV has dropped the price of a home is when they can’t sell them. I have friends that are looking for a new house in Eastport area and they get notified that they have 2 hours to respond to buy it or it will go to the next person. The villages is getting around $300 sq ft on some of the new home models and that’s before adding in the land. But that’s cheaper than the $500 - $700 per sq ft in our area for a designer home. Cheap homes with Formica and carpet floors are $300 sq ft.

The villages sells everything they make, and if it starts to get a little slow, they will cut costs like putting in cheaper stuff in the house to bring the price down. Newell lots were a steal compared to lots from fennel for example, but you pay more for everything else.

When Florida is getting more and more people migrating here from other states, if it’s truly down in price, it won’t be long before they will be more expensive. On top of that, people migrating from NY, Calif, and other states will think the houses in TV are cheap and will have cash to buy.

Scores of homes in the southeran sections are going unsold. They are starting to discount them but they are still not selling. Regarding the 2 hour notice to accept the home, thats the standard Villages sales process, regardless if others are interested in the home or not.

[Djean1981]

The homes aren't the same. Some of the cottage homes have no back or front screened Lanai - Just a tiny side patio.. No fence, etc..

[tophcfa]

Scores of homes in the southeran sections are going unsold. They are starting to discount them but they are still not selling. Regarding the 2 hour notice to accept the home, thats the standard Villages sales process, regardless if others are interested in the home or not.

Two hour notice to accept a home? Talk about lack of time to do adequate due diligence. A very good reason to buy pre owned.

[vintageogauge]

Two hour notice to accept a home? Talk about lack of time to do adequate due diligence. A very good reason to buy pre owned.

The two hour time frame applies at the time you agree on a home to purchase after the two hours if you don't put down a deposit it can be sold to someone else. you can take all the time you need for due diligence before agreeing to purchase it. There are a lot of reasons to buy a pre-owned home but this isn't one of them.

[Craig Vernon]

The new areas are mainly spec homes which is most of what is being built options are none. There are lots that you can buy and build custom at prices far higher than previous, higher bonds, higher property taxes, and higher build costs. The preowned homes are mostly still at COVID levels and hardly selling at all, too many to count over 100 days and too many to count that are listed for less than purchased a year or two ago. Moultre Creek was supposed to be the area of highest demand, but sales are not brisk. If somebody was in a bidding lottery then that is very rare according to my VLS agent and MLS agents. Speaking to those who believe prices are not coming down, you simply are not paying attention, or are just happy being in the beautiful Villages. Bless your hearts.

[Craig Vernon]

The homes aren't the same. Some of the cottage homes have no back or front screened Lanai - Just a tiny side patio.. No fence, etc..

I saw some patio villas with designer homes behind with no fence really doesn't look very good.

[JMintzer]

https://i.imgflip.com/78svt0.gif

[frayedends]

Before I go cherry picking with you, I will be direct by saying I hope it all does turn up well between your friends and the Developer and they get the house of their dreams.

Not everyone shares your optimism about what is happening in the current Villages area. Try selling your home right now if you live in Lady Lake, or any where north of 44. Try selling your house if you even live in St. Catherine or Fenney. The values of these homes have for the most part dropped. Then go to Dabney or even Newell and see for yourself how the Developer has had to drop the prices on those new homes.

As far as cash buyers from out of state, that is what is needed. The real issue is people in other states have to sell their homes in many cases and that is in a market where buyers are paying a 7% mortgage. It’s a buyer’s market in most cases..

There is a term we all have used,”Location, location, location.” Hopefully the new location of Moultrie Creek pans out for all. There are still about a hundred blank lots for sale there. Also your friends might want to try in the new Enclave Premier area as well. Almost all the lots are still for sale there. You mentioned Newell also, good news there is still one new house for sale in that area also.

If I were you I would take that 500-700 dollar a square foot offer.

Not quite a buyers market. Because of the high interest rates people aren’t selling. Of course if they are moving to Florida to pay cash they will sell. But that’s not most people. People don’t want to trade their 3% mortgage for a 7%. So there is very low inventory. Seeing multiple offer situations a lot. Spring market is picking up as people are realizing these rates are the new normal.

[margaretmattson]

Not quite a buyers market. Because of the high interest rates people aren’t selling. Of course if they are moving to Florida to pay cash they will sell. But that’s not most people. People don’t want to trade their 3% mortgage for a 7%. So there is very low inventory. Seeing multiple offer situations a lot. Spring market is picking up as people are realizing these rates are the new normal.There is NOT LOW inventory in the Villages. VLS and MLS preowned homes combined have approx 1000 homes available. Denham and Dabney are moving at a snails pace. Moultrie Creek lots are also moving slowly. The enclave still has many lots available.

[CarlR33]

As far as cash buyers from out of state, that is what is needed. The real issue is people in other states have to sell their homes in many cases and that is in a market where buyers are paying a 7% mortgage. It’s a buyer’s market in most cases..
In the North it’s a sellers market because most home owners are sitting on low interest rate loans on homes that have appreciated in value the last few years and with low(or non existent) home inventory it’s a sellers market there. So those people are able to bring cash to a suppliers market here.

[margaretmattson]

You are mistaken about prices and selling in Fenney, they homes there are still commanding high prices and are selling quickly some within a week or two with the exception of those that are on undesirable lots which is the case in any village.While looking to purchase a home, our experience has been the opposite. We see VERY FEW homes being sold within a week or two. My daughter has walked through many homes and passed for one reason or another. DAILY, she is receiving lists of homes that have been discounted between $5,000 and $75,000.

She has put the brakes on buying. The market is showing her that prices are coming down. Overpaying for a home may lead to the same trouble sellers are now experiencing. She wants to avoid having to sell at a loss if the need arises. The days of "We'll just buy now . If we don't like it, we can easily sell in one year." Are gone! Today, a buyer has to be knowledgeable and careful. Or, they may be stuck with a home they cannot sell.

[CarlR33]

While looking to purchase a home, our experience has been the opposite. We see VERY FEW homes being sold within a week or two. My daughter has walked through many homes and passed for one reason or another. DAILY, she is receiving lists of homes that have been discounted between $5,000 and $75,000.

She has put the brakes on buying. The market is showing her that prices are coming down. Overpaying for a home may lead to the same trouble sellers are now experiencing. She wants to avoid having to sell at a loss if the need arises. Well it ain’t bothering the agents selling the two new never lived in private owned homes we saw this week. Both were marked up 2-300K from the price the owner originally paid. One was less than a year old (not to sell until June) and the other was just over 2 years old. I would bet they get a part of that higher than paid asking price but who knows.

[margaretmattson]

Well it ain’t bothering the agents selling the two new never lived in private owned homes we saw this week. Both were marked up 2-300K from the price the owner originally paid. One was less than a year old (not to sell until June) and the other was just over 2 years old. I would bet they get a part of that higher than paid asking price but who knows.I'm certain this happens. But! Do you believe the buyers of these homes are going to have the same result if A NEED to sell arises? Paying too much can lead to danger later on. We are seeing this across the board. Those who paid TOO MUCH are experiencing a loss.

This shocked us, at first. But, we see this is happening often. My daughter is taking her time to learn the market. She doesn't want to buy in a needless rush only to regret it. There are thousands of homes available in the Villages. She is willing to take her time. It is very unlikely an agent is going to convince her to buy a home $200,000 above current market pricing. I believe MOST BUYERS would also walk away.

[frayedends]

There is NOT LOW inventory in the Villages. VLS and MLS preowned homes combined have approx 1000 homes available. Denham and Dabney are moving at a snails pace. Moultrie Creek lots are also moving slowly. The enclave still has many lots available.

Margarett, bless your heart. If you read the post I quoted they said it was a buyers market "in other states". My post was a response to that and not about the market in the Villages at all.

[frayedends]

In the North it’s a sellers market because most home owners are sitting on low interest rate loans on homes that have appreciated in value the last few years and with low(or non existent) home inventory it’s a sellers market there. So those people are able to bring cash to a suppliers market here.

Yes, exactly what I said in an earlier post.

[frayedends]

Okay now that I love these realty threads, and I have a few cocktails in me I'm gonna post an OPINION.

It's my OPINION and no need to fight me on if I'm right or wrong. I could absolutely be 100% wrong. But the market crash people are waiting for isn't happening. Sorry, it's not.

This is not 2008. There are not a bunch of sub prime mortgages. What we have is a crappy interest rate compared to ridiculously low interest rates a few years ago. Things have slowed a tiny bit because people are hoping that the drop will happen. Nope, not what I'm seeing. People are now starting to see this is the new normal. Rates at 7 aren't the end of the world. Waiting for the crash may be a losing endeavor.

Some of us remember interest rates in the high teens. If you see where you want to live, buy now. I think it's actually a benefit that TV is selling bare bones but allowing some stretches. You can't make your house bigger but you can always add crown molding. So buy the cheap spec home, add the square footage you can and pay a contractor less for the upgrades. You'll make a killing on resale. If the crash happens, wait. Real estate is like the weather in Massachusetts. If you don't like it now, wait an hour.

[kkingston57]

Okay now that I love these realty threads, and I have a few cocktails in me I'm gonna post an OPINION.

It's my OPINION and no need to fight me on if I'm right or wrong. I could absolutely be 100% wrong. But the market crash people are waiting for isn't happening. Sorry, it's not.

This is not 2008. There are not a bunch of sub prime mortgages. What we have is a crappy interest rate compared to ridiculously low interest rates a few years ago. Things have slowed a tiny bit because people are hoping that the drop will happen. Nope, not what I'm seeing. People are now starting to see this is the new normal. Rates at 7 aren't the end of the world. Waiting for the crash may be a losing endeavor.

Some of us remember interest rates in the high teens. If you see where you want to live, buy now. I think it's actually a benefit that TV is selling bare bones but allowing some stretches. You can't make your house bigger but you can always add crown molding. So buy the cheap spec home, add the square footage you can and pay a contractor less for the upgrades. You'll make a killing on resale. If the crash happens, wait. Real estate is like the weather in Massachusetts. If you don't like it now, wait an hour.

On point especially about problems in 2008. On other side nobody in the string brought this up. This is a typical supply/demand scenario and it looks like we are now getting back to a more normal interest rate especially for people who want a safe investment like CD's which can get around 5%. If rates do go back down, mortgage brokers will have a huge smile on their face and all should HOPE that some of the crazy mortgages do not come back.

[margaretmattson]

Margarett, bless your heart. If you read the post I quoted they said it was a buyers market "in other states". My post was a response to that and not about the market in the Villages at all. I understood your post. I was emphasizing the market in the Villages is different. There are an abundance of homes to choose from with many sitting for months. Retired, out-of-state homeowners cannot buy in the Villages because they are having difficulties unloading their homes. Kinda like a cause and effect scenario.

[dhdallas]

Many of these "price drop" homes also have "feature drops" such as eliminating shower doors, smaller showers, dual sinks in master, blinds, washer/dryer, minimal number of electrical outlets, much less finished outdoor space, smaller and cheaper trim, shorter garages, undesirable lots/locations, lower quality everything in them. It's all smoke and mirrors and you get only what you pay for. They still build higher quality units with more features in them but you'll pay more per sq. ft. for them. Take a good look.

You are exactly right. A friend of ours just bought a new house comparable to ours and it lacks many, many features that were included with ours. It's all a subterfuge.

[margaretmattson]

You are exactly right. A friend of ours just bought a new house comparable to ours and it lacks many, many features that were included with ours. It's all a subterfuge.Yes, new homes have bare minimum upgrades. Even premiere homes. They are now designer homes with pools and a view. No larger rooms or additions like the older versions.

[Randall55]

Okay now that I love these realty threads, and I have a few cocktails in me I'm gonna post an OPINION.

It's my OPINION and no need to fight me on if I'm right or wrong. I could absolutely be 100% wrong. But the market crash people are waiting for isn't happening. Sorry, it's not.

This is not 2008. There are not a bunch of sub prime mortgages. What we have is a crappy interest rate compared to ridiculously low interest rates a few years ago. Things have slowed a tiny bit because people are hoping that the drop will happen. Nope, not what I'm seeing. People are now starting to see this is the new normal. Rates at 7 aren't the end of the world. Waiting for the crash may be a losing endeavor.

Some of us remember interest rates in the high teens. If you see where you want to live, buy now. I think it's actually a benefit that TV is selling bare bones but allowing some stretches. You can't make your house bigger but you can always add crown molding. So buy the cheap spec home, add the square footage you can and pay a contractor less for the upgrades. You'll make a killing on resale. If the crash happens, wait. Real estate is like the weather in Massachusetts. If you don't like it now, wait an hour.I have flipped several homes in the Villages. I agree with most of what you have said. But, very few people are making a killing nowadays. I would hate to see anyone make expensive upgrades hoping for a great return. Probably not going to happen in today's market.

My advice is to keep things simple. Pay close attention to the color of cabinets and floors. The more neutral; the better. Example: White cabinets- oak-colored floors. Perfect! Buying a home with unique colors will be difficult to sell. Paint your walls the same color throughout. A light shade will make the rooms appear bigger. Keep landscaping minimal. Most people hate to take care of high maintenance lawns. Do not add a built-in. Turning your 3rd bedroom into a permanent office will reduce the amount of interested buyers. If your plans are to make money on a home, you do not have to spend a lot on upgrades. Upgrades are not a guarantee that you will make more money on the resale.

[Altavia]

Big savings are on the way for realtor "fees."

The 6% commission, a standard in home purchase transactions, is no more.

For the average-priced American home for sale — $417,000 — sellers are paying more than $25,000 in brokerage fees. Those costs are passed on to the buyer, boosting the price of homes in America. That fee could fall by between $6,000 and $12,000, according to TD Cowen Insights’ analysis.

The agreement effectively will destroy the current homebuying and selling business model, in which sellers pay both their broker and a buyer’s broker, which critics say have driven housing prices artificially higher.

By some estimates, real estate commissions are expected to fall 25% to 50%, according to TD Cowen Insights. This will open up opportunities for alternative models of selling real estate that already exist but don’t have much market share, including flat-fee and discount brokerages. ok

[margaretmattson]

Okay now that I love these realty threads, and I have a few cocktails in me I'm gonna post an OPINION.

It's my OPINION and no need to fight me on if I'm right or wrong. I could absolutely be 100% wrong. But the market crash people are waiting for isn't happening. Sorry, it's not.

This is not 2008. There are not a bunch of sub prime mortgages. What we have is a crappy interest rate compared to ridiculously low interest rates a few years ago. Things have slowed a tiny bit because people are hoping that the drop will happen. Nope, not what I'm seeing. People are now starting to see this is the new normal. Rates at 7 aren't the end of the world. Waiting for the crash may be a losing endeavor.

Some of us remember interest rates in the high teens. If you see where you want to live, buy now. I think it's actually a benefit that TV is selling bare bones but allowing some stretches. You can't make your house bigger but you can always add crown molding. So buy the cheap spec home, add the square footage you can and pay a contractor less for the upgrades. You'll make a killing on resale. If the crash happens, wait. Real estate is like the weather in Massachusetts. If you don't like it now, wait an hour.A crash is harsh wording. You must admit this is a difficult market. If you buy a home at ask price today, a few months later, the exact model is now $50,000 less. And, the same preowned models are sitting on MLS and VLS for months. We are not anticipating a crash. We are waiting for the market to stabilize. Right now, it is much better to invest your money instead of purchasing a home with cash. The real estate market is showing losses.

[melpetezrinski]

How can you say prices are coming down when there are still lotteries going on for a new home or lot? The only time TV has dropped the price of a home is when they can’t sell them. I have friends that are looking for a new house in Eastport area and they get notified that they have 2 hours to respond to buy it or it will go to the next person. The villages is getting around $300 sq ft on some of the new home models and that’s before adding in the land. But that’s cheaper than the $500 - $700 per sq ft in our area for a designer home. Cheap homes with Formica and carpet floors are $300 sq ft.

The villages sells everything they make, and if it starts to get a little slow, they will cut costs like putting in cheaper stuff in the house to bring the price down. Newell lots were a steal compared to lots from fennel for example, but you pay more for everything else.

When Florida is getting more and more people migrating here from other states, if it’s truly down in price, it won’t be long before they will be more expensive. On top of that, people migrating from NY, Calif, and other states will think the houses in TV are cheap and will have cash to buy.

"Cheap homes with Formica and carpet floors are $300 sq ft" It's more like $230 and the only homes selling for "$500-$700 are pool homes with a view and that's a rarity. The price per square ft realized on closings are averaging approximately $245 over the last 5 months.

[Two Bills]

Big savings are on the way for realtor "fees."

The 6% commission, a standard in home purchase transactions, is no more.

For the average-priced American home for sale — $417,000 — sellers are paying more than $25,000 in brokerage fees. Those costs are passed on to the buyer, boosting the price of homes in America. That fee could fall by between $6,000 and $12,000, according to TD Cowen Insights’ analysis.

The agreement effectively will destroy the current homebuying and selling business model, in which sellers pay both their broker and a buyer’s broker, which critics say have driven housing prices artificially higher.

By some estimates, real estate commissions are expected to fall 25% to 50%, according to TD Cowen Insights. This will open up opportunities for alternative models of selling real estate that already exist but don’t have much market share, including flat-fee and discount brokerages. ok

Have sold quite a few of our past homes in UK, and have never paid more than 1% selling fee.
Handled it all myself last two properties, and saved even more.
I have always been amazed what US estate agents charge, and get away with.

[MX rider]

A crash is harsh wording. You must admit this is a difficult market. If you buy a home at ask price today, a few months later, the exact model is now $50,000 less. And, the same preowned models are sitting on MLS and VLS for months. We are not anticipating a crash. We are waiting for the market to stabilize. Right now, it is much better to invest your money instead of purchasing a home with cash. The real estate market is showing losses.

I would agree with frayedends.
In my opinion trying to guess where home prices will go is fools gold to a certain extent. Yes, the market is a bit uncertain now, and prices seem to have leveled off or even gone down. But if we were looking now, I wouldn't hesitate to buy if this is where we really wanted to be.

If rates drop, and at some point I believe they will, the market will pick up steam again.

We have friends looking to buy this summer to be snowbirds. Their house in Indiana is paid for and they're getting a mortgage for the home here. They said they can live with the higher rates, and if they go down they'll refinance.

They're 74 and 67 and have had some health scares. As they said, time is not on their side and they don't want to wait to live here.

We were lucky and bought 2.5 years ago and got a very good rate. Like our friends, our home in Indiana is paid for, and our main goal when we bought was to find a home we liked within our budget. We really didn't give any thought to what it would be worth down the road, and we still don't.

At this point for us, it's all about living our best life everyday.

At the end of the day, it all depends on your situation. If you're buying for investment reasons, then that's a different story.

[Snakster66]

My advice is to keep things simple. Pay close attention to the color of cabinets and floors. The more neutral; the better. Example: White cabinets- oak-colored floors. Perfect! Buying a home with unique colors will be difficult to sell. Paint your walls the same color throughout. A light shade will make the rooms appear bigger. Keep landscaping minimal. Most people hate to take care of high maintenance lawns. Do not add a built-in. Turning your 3rd bedroom into a permanent office will reduce the amount of interested buyers. If your plans are to make money on a home, you do not have to spend a lot on upgrades. Upgrades are not a guarantee that you will make more money on the resale.

As someone who is currently looking in the resell market, this is great advice. In particular:

landscaping...when I see a house with many bushes and hedges, my only thought is "how much will it cost me to rip all of that out and replace with something lower maintenance?"

Built-ins...People seem to love built-ins down there, but they are a major turn-off to me as a buyer (I can only speak for myself and won't generalize for the buyer market). Even though I plan to use a room as a home office, I still am turned off by a huge built-in desk/cabinet/murphy bed monstrosity in a room. I want to maintain flexibility down the road. And that means not having to tear out a built-in after I formally retire.

The places that attract us (me and wife) the most are blank slates where we can project our vision, not places where we first have to imagine getting rid of a bunch of things before we can imagine how we can implement a vision.

Back to the market, There are houses that I have been watching for quite some time now. Some are stubbornly holding on to their asking price, others are chasing the right price with either modest or aggressive price cuts. But the vast majority are not sniffing their asking price when they finally do sell. It is not 2022 any more; and from my observations, it has gotten worse (for sellers) over the last month.

[kansasr]

There is NOT LOW inventory in the Villages. VLS and MLS preowned homes combined have approx 1000 homes available. Denham and Dabney are moving at a snails pace. Moultrie Creek lots are also moving slowly. The enclave still has many lots available.

Since Lake Denham was over 86% sold through early February (per the Lake County property appraiser), I'd say things are moving quite nicely. Even Dabney was over 1/3 sold through that period!

[Topspinmo]

All houses are overpriced except mine!:eclipsee_gold_cup:

[dewilson58]

All houses are overpriced except mine!:eclipsee_gold_cup:

U R sooooo lucky.

:bigbow:

[Shipping up to Boston]

In the North it’s a sellers market because most home owners are sitting on low interest rate loans on homes that have appreciated in value the last few years and with low(or non existent) home inventory it’s a sellers market there. So those people are able to bring cash to a suppliers market here.

BINGO!
Hi Mom!

[Normal]

In the North it’s a sellers market because most home owners are sitting on low interest rate loans on homes that have appreciated in value the last few years and with low(or non existent) home inventory it’s a sellers market there. So those people are able to bring cash to a suppliers market here.

There may be assumable mortgages up there? Few homes are mortgaged down here.

Also, the chances of a “created” or built inventory surging are low in the winter months. There you have basically a fixed inventory that usually doesn’t see drastic changes.

Buyers are demanding inspections and repairs here before closing and prices are being negotiated down.

[Shipping up to Boston]

Have sold quite a few of our past homes in UK, and have never paid more than 1% selling fee.
Handled it all myself last two properties, and saved even more.
I have always been amazed what US estate agents charge, and get away with.

Marry an Attorney....problem solved

[margaretmattson]

As someone who is currently looking in the resell market, this is great advice. In particular:

landscaping...when I see a house with many bushes and hedges, my only thought is "how much will it cost me to rip all of that out and replace with something lower maintenance?"

Built-ins...People seem to love built-ins down there, but they are a major turn-off to me as a buyer (I can only speak for myself and won't generalize for the buyer market). Even though I plan to use a room as a home office, I still am turned off by a huge built-in desk/cabinet/murphy bed monstrosity in a room. I want to maintain flexibility down the road. And that means not having to tear out a built-in after I formally retire.

The places that attract us (me and wife) the most are blank slates where we can project our vision, not places where we first have to imagine getting rid of a bunch of things before we can imagine how we can implement a vision.

Back to the market, There are houses that I have been watching for quite some time now. Some are stubbornly holding on to their asking price, others are chasing the right price with either modest or aggressive price cuts. But the vast majority are not sniffing their asking price when they finally do sell. It is not 2022 any more; and from my observations, it has gotten worse (for sellers) over the last month.Prices are all over the board. If you check the price history of a home, this tells the story. Many homes start with aggressive pricing then get reduced month after month. This is also true with new construction. If you are the first to buy in an area you pay full price. Months later, prices of homes remaining are slashed. In Denham and Dabney nearly 300 homes saw price reductions. Even with the price reductions, homes are still sitting. Will the developer reduce them further? This is one important aspect we would like to see before purchasing.

The theory that only undesirable homes get price reductions is no longer valid. Most are not buying feverishly. Both preowned and new are sitting on the market for months. This means prices eventually fall on most homes. We are waiting to see what the end of summer brings. Taking a FEW MONTHS to evaluate is not a big deal. Plenty of other things to keep us occupied. Right now, we are enjoying those.

Note: If you find a home where the seller is holding stubbornly to the price, check the price history. Look at the price the seller bought then add closing costs he will need to pay. Many cannot reduce the price without suffering a loss.

[Randall55]

Prices are all over the board. If you check the price history of a home, this tells the story. Many homes start with aggressive pricing then get reduced month after month. This is also true with new construction. If you are the first to buy in an area you pay full price. Months later, prices of homes remaining are slashed. In Denham and Dabney nearly 300 homes saw price reductions. Even with the price reductions, homes are still sitting. Will the developer reduce them further? This is one important aspect we would like to see before purchasing.

The theory that only undesirable homes get price reductions is no longer valid. Most are not buying feverishly. Both preowned and new are sitting on the market for months. This means prices eventually fall on most homes. We are waiting to see what the end of summer brings. Taking a FEW MONTHS to evaluate is not a big deal. Plenty of other things to keep us occupied. Right now, we are enjoying those.

Note: If you find a home where the seller is holding stubbornly to the price, check the price history. Look at the price the seller bought then add closing costs he will need to pay. Many cannot reduce the price without suffering a loss.We were lucky to sell our last home in the Villages for a good profit. We are currently renting and waiting until the end of September. This is a strange market! No telling what is going to happen.

[Snakster66]

Prices are all over the board. If you check the price history of a home, this tells the story. Many homes start with aggressive pricing then get reduced month after month. This is also true with new construction. If you are the first to buy in an area you pay full price. Months later, prices of homes remaining are slashed. In Denham and Dabney nearly 300 homes saw price reductions. Even with the price reductions, homes are still sitting. Will the developer reduce them further? This is one important aspect we would like to see before purchasing.

The theory that only undesirable homes get price reductions is no longer valid. Most are not buying feverishly. Both preowned and new are sitting on the market for months. This means prices eventually fall on most homes. We are waiting to see what the end of summer brings. Taking a FEW MONTHS to evaluate is not a big deal. Plenty of other things to keep us occupied. Right now, we are enjoying those.

Note: If you find a home where the seller is holding stubbornly to the price, check the price history. Look at the price the seller bought then add closing costs he will need to pay. Many cannot reduce the price without suffering a loss.

The people who price smartly, sell quickly. The ones who don’t, dont. This is more true right now than it has been in some time. Many sellers still think it’s 2021 or 2022 where they can throw up an inflated price and still have a feeding frenzy. It’s not. House prices are depressed now from the peak in 2022. That’s reality. How long this continues, I don’t know. But I am getting good at seeing new listings and predicting whether the will sell relatively quickly or sit.

Stubborn ones MAY be people on the edge of losing money (bought at the peak in 2022 or thereafter), but some seem to have a number in their head and don’t want to drop it. I’m good either way. When I’m ready (hopefully sooner than later), I know what I’m targeting and what number should get it done. The good news is, if one house sells, there’s always another one that gets listed .

New houses? Don’t care, not interested in that area. But I do like to see the developer lower prices, because I firmly believe it has a ripple effect on re-sell prices.

[Randall55]

The people who price smartly, sell quickly. The ones who don’t, dont. This is more true right now than it has been in some time. Many sellers still think it’s 2021 or 2022 where they can throw up an inflated price and still have a feeding frenzy. It’s not. House prices are depressed now from the peak in 2022. That’s reality. How long this continues, I don’t know. But I am getting good at seeing new listings and predicting whether the will sell relatively quickly or sit.

Stubborn ones MAY be people on the edge of losing money (bought at the peak in 2022 or thereafter), but some seem to have a number in their head and don’t want to drop it. I’m good either way. When I’m ready (hopefully sooner than later), I know what I’m targeting and what number should get it done. The good news is, if one house sells, there’s always another one that gets listed .

New houses? Don’t care, not interested in that area. But I do like to see the developer lower prices, because I firmly believe it has a ripple effect on re-sell prices. We feel the same. Cookie Cutter homes are the same throughout the Villages. In our opinion, one is not that much better than another. We are more concerned about the possible ripple effect you mentioned. IF it does occur, we do not want to be on the wrong side of it. If prices go up, great! We will take the hit. It is better to buy high in a sound market than overpriced in a down market. Until then, our money is collecting nice interest.

[MX rider]

We feel the same. Cookie Cutter homes are the same throughout the Villages. In our opinion, one is not that much better than another. We are more concerned about the possible ripple effect you mentioned. IF it does occur, we do not want to be on the wrong side of it. If prices go up, great! We will take the hit. It is better to buy high in a sound market than overpriced in a down market. Until then, our money is collecting nice interest.

I think it really depends on the reason someone is buying. If you're buying here to live, find a home you like at a price you feel is fair and enjoy the years you have left.
Why wait?

Unless you plan on reselling soon, who cares what the home values do? Just like the stock market, they go up and down. And just like stocks, you haven't lost a dime unless you sell.


If interest rates go down, the market will heat up again imo. Then prices will head the other direction. But really, nobody knows for sure.

[Two Bills]

If you are selling for less, you will buy for less.
Our greatest property coup was selling a home definitely below what we had hoped for, but buying another, that at the height of the market, we would never have looked at, let alone afforded. The seller was more desperate to move than we had been.
Job relocation can be a bitch at times.
Went up three rungs on the property ladder in one hit.
There is always a deal somewhere!

[Snakster66]

There is always a deal somewhere!

Truer words were never written.

[Randall55]

I think it really depends on the reason someone is buying. If you're buying here to live, find a home you like at a price you feel is fair and enjoy the years you have left.
Why wait?

Unless you plan on reselling soon, who cares what the home values do? Just like the stock market, they go up and down. And just like stocks, you haven't lost a dime unless you sell.


If interest rates go down, the market will heat up again imo. Then prices will head the other direction. But really, nobody knows for sure.We sold our home in the Villages for a profit. We are now renting in the Villages. Our social security checks cover all of our expenses and we are enjoying a no maintenance life. The money we made on our home is earning nice interest. There is no reason for us to rush into another home. If there is a deal out there, hopefully, we will find it. We feel most comfortable in a home that will gain equity quickly. Model and location is not that important. Just our preference. And so, we will wait until the right opportunity comes along. We are not missing out on anything.

[tophcfa]

In the North it’s a sellers market because most home owners are sitting on low interest rate loans on homes that have appreciated in value the last few years and with low(or non existent) home inventory it’s a sellers market there. So those people are able to bring cash to a suppliers market here.

The North is definitely a sellers market. This winter three homes in our Village came on the market that we checked out (open houses) out of curiosity. We were shocked at the asking prices but hoped they sold as that would reflect our homes value. All three sold within a couple weeks at or above asking price, meaning our home has doubled in value over 8+ years. I suspect they sold so fast for several reasons, including the following:

Limited supply in the area.
Relatively reasonable price point compared to alternative areas.
Very low to no bond.
Newer roofs and A/C units.
Surrounded by lots and lots of both Championship and Executive golf in an area where the courses are in very good condition.
Location within 10 minutes by golf cart to 2 town squares.
Close golf cart accessibility to a wide variety of both dinning and shopping.
Beautiful mature landscaping.

The only downside is that will give the tax accessor an excuse to jack up our property taxes.

[ChrisTee]

The low mortgage rates were big drivers of housing inflation. Where are mortgage rates now? What do you think happens to housing if we have any type of recession (small or large you know where housing prices will likely go). Case-Schiller shows we've had decreases in housing prices over the past 2 months - before that, historically, the US had the biggest run up in housing prices over just a few years. Many homes across the US (not just The Villages) increased 40-100% in equity over the past 2.5 years. They may drop just as quickly (or not). Regardless I don't want low mortgage rates financed by savers like myself. I don't think I'm wealthier because my home is worth more now - I'm poorer due to inflation.The dollar buys FAR less today than it did 4 years ago. 20% less. :icon_wink:

[OrangeBlossomBaby]

We sold our home in the Villages for a profit. We are now renting in the Villages. Our social security checks cover all of our expenses and we are enjoying a no maintenance life. The money we made on our home is earning nice interest. There is no reason for us to rush into another home. If there is a deal out there, hopefully, we will find it. We feel most comfortable in a home that will gain equity quickly. Model and location is not that important. Just our preference. And so, we will wait until the right opportunity comes along. We are not missing out on anything.

It's all good until the landlord raises the rent. Or dies, and the kids abandon it to the bank. Or sells it to a flipper who chooses not to renew your lease next year. Or any other of a number of things that can happen to tenants in senior community homes that belong to someone else.

[Altavia]

LOL - 150 homes sold last week, the sky is falling...

[margaretmattson]

It's all good until the landlord raises the rent. Or dies, and the kids abandon it to the bank. Or sells it to a flipper who chooses not to renew your lease next year. Or any other of a number of things that can happen to tenants in senior community homes that belong to someone else.There are over 1500 rental properties listed on one site in the Villages. Many Villagers are starting to take that route instead of buying. Lose a lease on one, plenty of others.

[margaretmattson]

LOL - 150 homes sold last week, the sky is falling...Buyers are rushing to be the first to buy in the Eastport area. It is a large community! One localized area seeing great sales does not mean all real estate is booming. Try telling homeowners who have had their homes sitting on the market for months with large price reductions, "The SKY IS NOT FALLING." I believe they will disagree.

There is only one winner and that is the developer. So, give a hand clap to him but don't make snarky comments about those who are not living the dream. Selling their homes has become a nightmare for some. I personally know quite a few.

Btw: Have you looked at new home prices? The cost is DOWN in Moultrie Creek. Even lower in Dabney. Maybe this is the reason there is a surge in sales? How do you think this will affect the price of your home? What if the Developer slashes the price of HUNDREDS of homes while you are in a NEED to sell predicament? Will you still feel secure everything is sunny and bright in the Villages?

On MLS and VLS combined, there were 982 preowned homes for sale. 92 of them sold this week. I am certain that percentage makes the owners of the 890 NOT SOLD thrilled! The number sold will easily be replaced by new preowned homes in a few days. Are you seeing great numbers here? Or, are you just interested in keeping tally of the Developer's good fortune?

[Normal]

LOL - 150 homes sold last week, the sky is falling...

At what prices? Reduced in most cases I’m sure.

[Jayhawk]

On MLS and VLS combined, there were 982 preowned homes for sale. 92 of them sold this week. I am certain that percentage makes the owners of the 890 NOT SOLD thrilled! The number sold will easily be replaced by new preowned homes in a few days. Are you seeing great numbers here? Or, are you just interested in keeping tally of the Developer's good fortune?

So almost 10% of the resale inventory (now of which were owned by the developer) closed last WEEK. That means it is a10 week rolling inventory average, which is considered very healthy in the real estate business.

People need to stop trying to turn facts into negative made-up commentary.

[margaretmattson]

So almost 10% of the resale inventory (now of which were owned by the developer) closed last WEEK. That means it is a10 week rolling inventory average, which is considered very healthy in the real estate business.

People need to stop trying to turn facts into negative made-up commentary.It is only negative made up commentary IF the homes sold were at asking price. Drastic reductions are across the board.

One poster felt the developer selling 150 homes is great news! It would be better news if preowned homes were selling the same amount. I guess you are not one of homeowners who have seen their homes sitting on the market for months with a large price reduction. A healthy market is in the eyes of the beholder. I was merely trying to show ALL are not happy with the real estate market. For many, the sky is indeed falling!

BTW: sales in one week in peak season cannot be used to come up with an overall average. You have to consider all the sales in a larger time period than ONE WEEK AT PEAK. If mine is negative made up commentary, SO IS YOURS.

It comes down to this, some of us see a downward price trend and some do not. I believe 10% sales at peak is weak. You believe it is healthy. Only time will tell which side is correct. Until then, let's just agree to disagree. It's all good!

[CoachKandSportsguy]

As someone who is currently looking in the resell market, this is great advice. In particular:

landscaping...when I see a house with many bushes and hedges, my only thought is "how much will it cost me to rip all of that out and replace with something lower maintenance?"

Built-ins...People seem to love built-ins down there, but they are a major turn-off to me as a buyer (I can only speak for myself and won't generalize for the buyer market). Even though I plan to use a room as a home office, I still am turned off by a huge built-in desk/cabinet/murphy bed monstrosity in a room. I want to maintain flexibility down the road. And that means not having to tear out a built-in after I formally retire.

The places that attract us (me and wife) the most are blank slates where we can project our vision, not places where we first have to imagine getting rid of a bunch of things before we can imagine how we can implement a vision.



Buying a resale for your preferences is buying a flip. I am not going to live in a house for 10-20 years and not design it the way I want to live in it, so yes, built ins, landscaping, definately not living for 20 years in a blank slate so that it can sell easily after i am dead.

mismatched reality to desired preferences here.

[Randall55]

Buying a resale for your preferences is buying a flip. I am not going to live in a house for 10-20 years and not design it the way I want to live in it, so yes, built ins, landscaping, definately not living for 20 years in a blank slate so that it can sell easily after i am dead.

mismatched reality to desired preferences here.Agree. Everyone should live their life to the fullest as they see fit. My advice was given after a poster stated- increase your square footage, do major upgrades after closing AND YOU WILL MAKE KILLING as a resale. As a flipper, I know this is not true. The best advice I could give to someone who wants to make a profit on their home within a year or so is to keep the home simple. Major upgrades DO NOT guarantee you will make more money. Simple things like epoxy the garage, paint the interior a neutral light shade, better light fixtures, nice back splash, and garage cabinets will go much further in the resale market than an expensive remodel. You can easily find a buyer who will pay EXTRA for the convenience of having simple things completed before moving in. The BETER CHOICES YOU MAKE when completing these projects, the more you will make. You have to know the current design trends. Do not simply choose colors you love. The buyer of your home will happily make their choice of major upgrades once settled in.

[vintageogauge]

Asking prices vary based on location, lot, extras, etc. You can buy a brand new Topaz patio villa right now for $250,00 or you can buy one right now for $325,000. Compare the two and you will see that you get what you pay for.

[Craig Vernon]

The most fascinating thing about these real estate posts is that most people who are retired, live and stay in the same home they purchased are just fine, happy and could care less to all the noise. If you are a flipper, reseller, investor or agent you fight kick and scream to convince buyers or renters that the market is just fine. On with the show...

[Randall55]

The most fascinating thing about these real estate posts is that most people who are retired, live and stay in the same home they purchased are just fine, happy and could care less to all the noise. If you are a flipper, reseller, investor or agent you fight kick and scream to convince buyers or renters that the market is just fine. On with the show...All the investors I know have pulled out. I am a flipper and stated several times I am currently renting. Will do so until the market stabilizes. I believe it is homeowners who are not seeing price reductions. Some do not want to believe their home is not worth as much as they anticipate. They also do not believe available preowned homes are sitting MUCH LONGER. Or currently, some homes are not selling no matter the large price reductions. Many look at the Developer's sales and construe this means good news for them. What the Developer earns is his to keep. It doesn't flow from pocket to pocket. Right now, he has chosen to reduce prices to keep his wheels moving. As some have noted, the finishes in the new homes are lesser quality. The developer is tightening his strings.

[tophcfa]

The most fascinating thing about these real estate posts is that most people who are retired, live and stay in the same home they purchased are just fine, happy and could care less to all the noise. If you are a flipper, reseller, investor or agent you fight kick and scream to convince buyers or renters that the market is just fine. On with the show...

Reminds me of the theme of the excellent book, Freakonomics. In order to explain and understands one’s behavior, look no further than their incentives.

[Shipping up to Boston]

The most fascinating thing about these real estate posts is that most people who are retired, live and stay in the same home they purchased are just fine, happy and could care less to all the noise. If you are a flipper, reseller, investor or agent you fight kick and scream to convince buyers or renters that the market is just fine. On with the show...

Makes you wonder if those were the same neighbors, flippers, resellers, investors.....and oh yes agents, you grew up with in anywhere USA. You know misery loves company;)

[Randall55]

Makes you wonder if those were the same neighbors, flippers, resellers, investors.....and oh yes agents, you grew up with in anywhere USA. You know misery loves company;)Again, I believe the opposite. Investing is a business. Most know when to pull out with profit in their pocket. Agents anticipate highs and lows. It is the homeowners who are having a difficult time accepting a change in the market. Investors will simply invest in something else.

[justjim]

Real estate appreciation in The villages has had a good run. There are still many resales over priced. Instead of 50 up to 100% profit reality change to 25-35% of original purchase price over a two to four year timeframe.

[Craig Vernon]

Real estate appreciation in The villages has had a good run. There are still many resales over priced. Instead of 50 up to 100% profit reality change to 25-35% of original purchase price over a two to four year timeframe.

Absolutely correct, six percent a year is a good return if updated and maintained over time. The last four years have made owners think their homes are worth what many overpaid just a couple years ago. The smart investors have left so now homes will be restored to the norm or will become short term rentals.

[Randall55]

Absolutely correct, six percent a year is a good return if updated and maintained over time. The last four years have made owners think their homes are worth what many overpaid just a couple years ago. The smart investors have left so now homes will be restored to the norm or will become short term rentals.I will not be surprised to see plenty of new rentals in Moultrie Creek. The Developer is building an ABUNDANCE of patio villas because they are in high demand. It appears there will be PLENTY of Courtyard Villas, as well. Stadium across the street? Close to 2 new town squares? Championship Golf Course and Country Club? Sounds like a perfect place for STRs. One of many reasons I am staying away.

[Shipping up to Boston]

Again, I believe the opposite. Investing is a business. Most know when to pull out with profit in their pocket. Agents anticipate highs and lows. It is the homeowners who are having a difficult time accepting a change in the market. Investors will simply invest in something else.

Not disagreeing.....but question, isn’t investor a little ambiguous? Couldn’t a flipper be an investor as well?

[Randall55]

Not disagreeing.....but question, isn’t investor a little ambiguous? Couldn’t a flipper be an investor as well?Sure. I was including myself. Like I stated several times, we are currently renting. We invested our profits and they are earning nice interest. With high interest rates, it is easy for investors to get out of a downward/stagnate real estate market and simply place the money into an interest bearing account.

I did not start with the intention to flip homes. I am a contractor. My wife and I bought a home in TV, 18 years ago. We believed this would be our forever home. I did all the labor of finishing our home to our liking. My wife is in real estate. She came home one day excited. "You are never going to believe what so and so got for his home!" Next day, our home was listed for sale.

Made a sizable profit, then bought what we were certain was our forever home, and fixed it to our liking. Wife comes home excited. Again! Sell, move, sell, move. We have been doing this for many years. This is the first time both of us are seeing many red flags in real estate so we are renting. Playing the better-to-be-safe than sorry route.

There are many types of investors in TV. We fell into it. This has happened with many residents. It is too hard to turn down a sizeable offer for your home. Take the money and run! Unfortunately, we think the well has dried up. {But, keeping our fingers crossed we are wrong. We enjoy decorating and fixing up houses)

[villagerjack]

For our housing correction turn-around to happen in less than a year seems highly improbable and unprecedented, but now is the time to embrace the sunny side. The sunny side is the more realistic market will eventually improve our economy. The service sector could see a large boost and populations in the local area could surge because of required workers and housing. This would bolster micro economies and local innovation. A younger demographic is sorely needed here.

The developer seems to embrace this reality in new build offerings with stucco kissing lanais at about 225-35 a square and stick vinyl at about 205. This is a nice drop. Many villas are under 300. You can see all this on Homefinder - The Villages(R) Homes and Villas for Sale (https://www.thevillages.com/homefinder/?new&status&lng=-81.93593570659338&lat=28.72567999690417&lvl=1) thevillages.com new homes section.

Perhaps the COVID shock to our economy has finally thawed.:pepper2:

Home prices will skyrocket when mortgage rates decline to 5-6%

[Shipping up to Boston]

Sure. I was including myself. Like I stated several times, we are currently renting. We invested our profits and they are earning nice interest. With high interest rates, it is easy for investors to get out of a downward/stagnate real estate market and simply place the money into an interest bearing account.

I did not start with the intention to flip homes. I am a contractor. My wife and I bought a home in TV, 18 years ago. We believed this would be our forever home. I did all the labor of finishing our home to our liking. My wife is in real estate. She came home one day excited. "You are never going to believe what so and so got for his home!" Next day, our home was listed for sale.

Made a sizable profit, then bought what we were certain was our forever home, and fixed it to our liking. Wife comes home excited. Again! Sell, move, sell, move. We have been doing this for many years. This is the first time both of us are seeing many red flags in real estate so we are renting. Playing the better-to-be-safe than sorry route.

There are many types of investors in TV. We fell into it. This has happened with many residents. It is too hard to turn down a sizeable offer for your home. Take the money and run! Unfortunately, we think the well has dried up. {But, keeping our fingers crossed we are wrong. We enjoy decorating and fixing up houses)

For some, flippers can have a negative connotation. Your story, to me is a positive one....simply because you and your wife’s intentions were to stay in the homes you referenced. The fact that you did the work yourself and were presented with opportunities to reward that ‘sweat equity’, I for one applaud that. More importantly, you showed respect to your past neighbors and neighborhood by leaving those homes better than you found them and as a result probably increased the value and quality of life in those areas in the process. I wish other flippers, with more selfish intentions, followed suit....

[JMintzer]

Home prices will skyrocket when mortgage rates decline to 5-6%

When is that happening?

Asking for my kids, who are home shopping...

[Snakster66]

When is that happening?

Asking for my kids, who are home shopping...

According to forecasts I've read, maybe 2025

[MX rider]

According to forecasts I've read, maybe 2025

I agree. I actually think we'll see them below 5 again. But nobody really knows.