Home values/resell

[BPRICE1234]

It appears that the used/pre-owned homes cost more than new. I understand that making a house your home takes money.

My question is home appreciation almost guaranteed in TV? We are looking in Denham/Dabney area but really want Eastport when it gets closer to being finished.

Should I take the discounted price and bank on a decent return when I sell in 3 years? I see so many listed and they don't seem to move that fast on the pre-owned.

[dewilson58]

No Guarantee.

Highly probable, based on long-term history.

But no guarantee.

[Normal]

It appears that the used/pre-owned homes cost more than new. I understand that making a house your home takes money.

My question is home appreciation almost guaranteed in TV? We are looking in Denham/Dabney area but really want Eastport when it gets closer to being finished.

Should I take the discounted price and bank on a decent return when I sell in 3 years? I see so many listed and they don't seem to move that fast on the pre-owned.

Denham/Dabney houses have been there since last fall, that should tell you something. I would hold off.

[Stu from NYC]

My crystal ball does not work as it used to. History says prices will go up but at this point who knows?

[Papa_lecki]

It appears that the used/pre-owned homes cost more than new.

That’s because pre owned homes have after market improvements, new home do not.

[Topspinmo]

It appears that the used/pre-owned homes cost more than new. I understand that making a house your home takes money.

My question is home appreciation almost guaranteed in TV? We are looking in Denham/Dabney area but really want Eastport when it gets closer to being finished.

Should I take the discounted price and bank on a decent return when I sell in 3 years? I see so many listed and they don't seem to move that fast on the pre-owned.

IMO think you appear to be wrong, but in your situation you’ve creating narrow window for increase in profit? Apples to apples new homes are higher and bond makes them way higher. IMO 60K or more. My house appears to be worth 130K more from purchase? But I been here 10 years.

[Stu from NYC]

It appears that the used/pre-owned homes cost more than new. I understand that making a house your home takes money.

My question is home appreciation almost guaranteed in TV? We are looking in Denham/Dabney area but really want Eastport when it gets closer to being finished.

Should I take the discounted price and bank on a decent return when I sell in 3 years? I see so many listed and they don't seem to move that fast on the pre-owned.

Polished up my crystal ball and this is what we see

Prices have come down since interest rates went up by a lot.

Fed will no reduce interest rates for now so do not think home prices will go up or down but will stay about the same.

Over next few year the ball says the price of new homes will fluctuate.

Keep in mind it has never been wrong. However it is not always right either

[frayedends]

It kind of depends on how close to Eastport you want to be. Eastport is a new town square. There are new Villages going in all around Eastport. Some are being built now, some in the future.

As far as Denham/Dabney, you can get good deals on houses now. But there are no preserve sites left. Those will appreciate the fastest. If you plan on moving in 2 to 5 years there's a good change you could make some money from a Denham/Dabney house. But if you are planning on moving next year at this time to a new Village in the Eastport area, you may not make out too well.

Also keep in mind you will be making bond payments and then when you move to Eastport area you will have a new higher bond.

Regarding interest rates, my opinion, the people waiting to buy for rates to come down are not making a wise decision. House prices pretty much always go up in the long run. You can refinance an interest rate, you can't make prices come down.

[margaretmattson]

It appears that the used/pre-owned homes cost more than new. I understand that making a house your home takes money.

My question is home appreciation almost guaranteed in TV? We are looking in Denham/Dabney area but really want Eastport when it gets closer to being finished.

Should I take the discounted price and bank on a decent return when I sell in 3 years? I see so many listed and they don't seem to move that fast on the pre-owned.The best way to answer this question is to research yourself. Choose a few homes you like on VLS and MLS then carefully watch. This week, I saw a preowned home a family member likes listed for $625,000. A few days later, I saw the same model on the same street listed for $540,000. The difference is NOT the home upgrades. The cheaper actually has more and better improvements. The reason the second home arrived much cheaper on the market is because it had been on VLS for six months with no interest. Now, it is on MLS at a much lower cost. The more expensive home is brand new to MLS. There is no indication it was up for sale prior.

Home prices are CRAZY! Anyone who doesn't research before buying or purchases with the idea of making a huge profit in a year, obviously, has not taken the time to study the CURRENT market. It is much different than a few years ago. Many are unable to sell or are taking a loss to get out.

Some posters will come on this thread and tell you my information is incorrect. My response is: watch VLS and MLS carefully for a month or so. Maybe the style of home you are looking for shows resale profits are GREAT. However, many homes will reveal the opposite. A giant inventory did not occur because homes are selling. The homes are sitting stagnant. Many must switch from VLS to MLS (vice versa) once their contract expires with their listing agent. It is a BUYERS MARKET. Nothing a seller can do but hope for a sale.

[gatorbill1]

Real Estate in Florida is subject to a lot of things. Interest rates at time. Bonds on new homes in TV only. When the last hurricane hit and how many hit in a period of time.
Have lived in Florida for over 40 years, have owned numerous houses and watched up and downs. Many up, but sometimes large downs for a while.

[TeresaE]

It appears that the used/pre-owned homes cost more than new. I understand that making a house your home takes money.

My question is home appreciation almost guaranteed in TV? We are looking in Denham/Dabney area but really want Eastport when it gets closer to being finished.

Should I take the discounted price and bank on a decent return when I sell in 3 years? I see so many listed and they don't seem to move that fast on the pre-owned.

Two reasons the price on a preowned property with the same floor plan is more than new build. First, aftermarket improvements and second, location. Houses near the squares and golf cart accessible shopping sell for more. The current “sweet spot” is between Lake Sumpter and Brownwood.

[Pat2015]

I would be looking at Waters Edge if I wanted to buy/build a new home once they start building there due to the proximity of Eastport just across from the entrance. I’d think there could be good appreciation there once the square gets finished. Good luck in your search!

[spinner1001]

Should I take the discounted price and bank on a decent return when I sell in 3 years? I see so many listed and they don't seem to move that fast on the pre-owned.

Don’t forget to include closing costs in your thinking. They add up. One of the biggest costs is the sales commission when you sell. And then factor in costs of ‘improvements’ that you make to your 3-year home. Your hoped-for appreciation would need to be much more than closing costs + improvement costs + time value of money in a period of higher interest rates to make it a good bet.

I believe the days of almost-certain average home appreciation over 10% per year around here are over for now as long as mortgage lending rates are high compared to recent historical levels. This means local home appreciation before lending rates jumped in 2022 may not be very relevant now.

[Kelevision]

It appears that the used/pre-owned homes cost more than new. I understand that making a house your home takes money.

My question is home appreciation almost guaranteed in TV? We are looking in Denham/Dabney area but really want Eastport when it gets closer to being finished.

Should I take the discounted price and bank on a decent return when I sell in 3 years? I see so many listed and they don't seem to move that fast on the pre-owned.

I would absolutely buy a house in Denham/Dabney to live in but I wouldn’t buy it to sell in 3 years. There’s a reason they’ve been discounted for so long. There’s plenty of supply but not the demand.

[coleprice]

Include the BOND when comparing the price of New & Used Homes. Also, most Pre-Owned (Used) homes have many upgrades, including landscaping, and other custom details that are very costly and increase value.

[Bay Kid]

Location, location, location.

[jojoturf]

Correct, location is key. Pre-owned homes, all models, in the Village of Richmond, just south of Brownwood Square, are selling at 30-40% appreciation and just over 1 year old. Some owned by investment companies, who I’m sure aren’t over 55 yrs old!

[Marine1974]

It appears that the used/pre-owned homes cost more than new. I understand that making a house your home takes money.

My question is home appreciation almost guaranteed in TV? We are looking in Denham/Dabney area but really want Eastport when it gets closer to being finished.

Should I take the discounted price and bank on a decent return when I sell in 3 years? I see so many listed and they don't seem to move that fast on the pre-owned.
Hard to say what will happen in 3 years . The government borrowed 11 trillion since March of 2020 and its now a run a way train .
Could be a default in 3 years .
We might need a wheel barrel
of cash to buy groceries.

[JRcorvette]

It appears that the used/pre-owned homes cost more than new. I understand that making a house your home takes money.

My question is home appreciation almost guaranteed in TV? We are looking in Denham/Dabney area but really want Eastport when it gets closer to being finished.

Should I take the discounted price and bank on a decent return when I sell in 3 years? I see so many listed and they don't seem to move that fast on the pre-owned.

If you are just looking for investment return than buy new down south side. Resales are priced higher for several reasons: Location is a big one… Upgrades which you will end up doing… and Mature landscaping etc.

[Robojo]

It appears that the used/pre-owned homes cost more than new. I understand that making a house your home takes money.

My question is home appreciation almost guaranteed in TV? We are looking in Denham/Dabney area but really want Eastport when it gets closer to being finished.

Should I take the discounted price and bank on a decent return when I sell in 3 years? I see so many listed and they don't seem to move that fast on the pre-owned.

I honestly feel we are heading towards another housing crash. One way the villages is protected is by retirement investment and annuity being peoples source of income. If those sources are at risk or go by by...

Plus. A lot of people pay cash here for a home. Bit a lot cant. Can the villages survive on only cash buyers in the future, if eco omy makes it unaffordable to others? I doubt it.

While I love living here, I personally don't see any "luxury". I'm guessing they keep that part of TV private. So we can't bank on big money holding us up. AND there are growing concerns for home insurance.

Its a gamble. Like anywhere else.

[Normal]

I honestly feel we are heading towards another housing crash. One way the villages is protected is by retirement investment and annuity being peoples source of income. If those sources are at risk or go by by...

Plus. A lot of people pay cash here for a home. Bit a lot cant. Can the villages survive on only cash buyers in the future, if eco omy makes it unaffordable to others? I doubt it.

While I love living here, I personally don't see any "luxury". I'm guessing they keep that part of TV private. So we can't bank on big money holding us up. AND there are growing concerns for home insurance.

Its a gamble. Like anywhere else.

Part of the pinch is 55% of all home purchases in the Villages are financed.

[sallyg]

All homes appreciate in the Villages. Buy new, you will spend a few thousand (or several thousand) finishing it the way you want, gutters, appliances, lanai flooring, surge protection, cabinet and counter enhancements, etc. etc. etc. Buy previously owned and it will all be done. You spend it one way or another.

[jimjamuser]

I honestly feel we are heading towards another housing crash. One way the villages is protected is by retirement investment and annuity being peoples source of income. If those sources are at risk or go by by...

Plus. A lot of people pay cash here for a home. Bit a lot cant. Can the villages survive on only cash buyers in the future, if eco omy makes it unaffordable to others? I doubt it.

While I love living here, I personally don't see any "luxury". I'm guessing they keep that part of TV private. So we can't bank on big money holding us up. AND there are growing concerns for home insurance.

Its a gamble. Like anywhere else.
Housing crashes happen from time to time. Right now the US has the best economy in the world. Funny how there are MORE houses here in The Villages than buyers right now. Yet around the country and probably other parts of Florida there are NOT enough homes being built. That's why most young people are renting.

[OrangeBlossomBaby]

It appears that the used/pre-owned homes cost more than new. I understand that making a house your home takes money.

My question is home appreciation almost guaranteed in TV? We are looking in Denham/Dabney area but really want Eastport when it gets closer to being finished.

Should I take the discounted price and bank on a decent return when I sell in 3 years? I see so many listed and they don't seem to move that fast on the pre-owned.

Personally I'd look for a place where I can live for longer than 3 years, and select my home based on whether I can see myself still living there in 10.

[Normal]

Housing crashes happen from time to time. Right now the US has the best economy in the world. Funny how there are MORE houses here in The Villages than buyers right now. Yet around the country and probably other parts of Florida there are NOT enough homes being built. That's why most young people are renting.

Where in Florida? I know Tampa, Orlando, Ft. Lauderdale/Miami are all struggling to move homes. Prices are dropping in all the above markets.

[Randall55]

Part of the pinch is 55% of all home purchases in the Villages are financed. Another part of that pinch is a great volume of new homes are being bought by Villagers. Take a look at the closing boards. Most of the time, buyers from Florida represent 50% or more of the scheduled closings. They are either EXTREMELY wealthy and paying for two (or more) homes is not a concern. Or, investors who still believe the housing market is booming. It is the latter that concerns me. The enormous inventory is most likely caused by failed investors. I have no data to back this up, but a large percentage of the available homes are empty. Others include the "everything you need, just bring a toothbrush" scenario. All the markings of investor owned properties. Most just sitting on MLS and VLS overpriced with no interest from potential buyers.

[margaretmattson]

Another part of that pinch is a great volume of new homes are being bought by Villagers. Take a look at the closing boards. Most of the time, buyers from Florida represent 50% or more of the scheduled closings. They are either EXTREMELY wealthy and paying for two (or more) homes is not a concern. Or, investors who still believe the housing market is booming. It is the latter that concerns me. The enormous inventory is most likely caused by failed investors. I have no data to back this up, but a large percentage of the available homes are empty. Others include the "everything you need, just bring a toothbrush" scenario. All the markings of investor owned properties. Most just sitting on MLS and VLS overpriced with no interest from potential buyers.Looks like you may be right regarding investors. On VILlAGERSHOMES4RENT there are 8 homes available for rent in Moultrie Creek. Didn't the developer open those for sale a minute ago? Looks like some are wanting to hop on the gravy train. I wish them the best of luck.

One owner is brazen enough to emphasize that you do not need to be 55 to rent and young visitors are welcome.

All are pushing the location between Middleton and Eastport. I hope potential renters understand neither are open because the developer has not completed construction.

The thought of this brings back terrible memories of when I lived on a street with many rental properties. I'm happy we found a home where we do not have this problem.

[BPRICE1234]

It appears that the used/pre-owned homes cost more than new. I understand that making a house your home takes money.

My question is home appreciation almost guaranteed in TV? We are looking in Denham/Dabney area but really want Eastport when it gets closer to being finished.

Should I take the discounted price and bank on a decent return when I sell in 3 years? I see so many listed and they don't seem to move that fast on the pre-owned.

My concern is the distance from Dabney/Denham to basically anything. Only 2 pools and no golf or restaurant. I do like that it should be quiet and hopefully less traffic.

For those that live there or close, how far of a golf cart ride is it to get around? What is your personal distance/time you will use the cart vs a car?

[asianthree]

Part of the pinch is 55% of all home purchases in the Villages are financed.

Those who sold prior home, have probably didn’t need a mortgage or much of one. My guess is those who finance like us took out as large as possible mortgage due to higher interest rate. At our financial guys recommendation. Then in a 3 month period paid down mortgage by 3/4. Still gives interest write off, interest amount drops like it was, less than 3% mortgage. With ability that allows money for investment.

You know OPM investing

[asianthree]

Another part of that pinch is a great volume of new homes are being bought by Villagers. Take a look at the closing boards. Most of the time, buyers from Florida represent 50% or more of the scheduled closings. They are either EXTREMELY wealthy and paying for two (or more) homes is not a concern. Or, investors who still believe the housing market is booming. It is the latter that concerns me. The enormous inventory is most likely caused by failed investors. I have no data to back this up, but a large percentage of the available homes are empty. Others include the "everything you need, just bring a toothbrush" scenario. All the markings of investor owned properties. Most just sitting on MLS and VLS overpriced with no interest from potential buyers.

But where from Florida? Our village has about 20% within TV residents. Then surprised at the number from other parts of Florida. The rest are brand new never lived in TV Or Florida.

Many of investment homes in our village have been sold at 1 year, just like it has been in any new village. We have had 3 investment homes in TV, but long term is very different from high season rent. Always had to weed down the list of potential tenants, right up to last year. If home is making money don’t understand why it would be 4sale. Then again in our old neighborhood 8 homes went on the market in 2week period. Death was the case for all homes, with only one downsizing.
Waiting to see how many VLS guys buy in the new Richmond East, instead of those who truly want to live here.

[Michael 61]

I purchased new in Richmond 17 months go. As most people know, many Richmond homes, especially patio villas, were snatched up by investors. Quite a few of these investor homes were flipped at the one-year mark, and they all made a sizable profit without really doing anything to the home (no landscaping, painted driveways, epoxy garage or interior upgrades). It’s been interesting to see how quickly the value of a new home has increased. Will this happen in Lake Denham/Dabney? I guess time will tell. What I would bet, is that the new section of Richmond (east of Meggison) that will come on-line in late summer/early fall, will be a magnet for investors, just as the rest of Richmond was.

[Snakster66]

The thought of this brings back terrible memories of when I lived on a street with many rental properties. I'm happy we found a home where we do not have this problem.

How would one know, who is buying first house in TV, if a particular neighborhood has many rental properties? I'm looking for pro tips here to help keep my search focused.

[asianthree]

I purchased new in Richmond 17 months go. As most people know, many Richmond homes, especially patio villas, were snatched up by investors. Quite a few of these investor homes were flipped at the one-year mark, and they all made a sizable profit without really doing anything to the home (no landscaping, painted driveways, epoxy garage or interior upgrades). It’s been interesting to see how quickly the value of a new home has increased. Will this happen in Lake Denham/Dabney? I guess time will tell. What I would bet, is that the new section of Richmond (east of Meggison) that will come on-line in late summer/early fall, will be a magnet for investors, just as the rest of Richmond was.

My hope is there should be a restriction on VLS agents buying home, and getting prime houses in Richmond.

As you know personally, you lost out on more than one house. hope is, clients should get first right, and the VLS guys should be last on the list. But guess that developers don’t care who buys, just that it’s sold, and then a year later sold again.

Leaving many who would have been residents out of that location.
Would like to see areas that can’t be for investment. It’s been done before, would be nice to see that policy again.

Our kids would love a place in Richmond East, as well as I would love to move my Mom there. Close to keep watch, and still having a home of her own.
But with multiple names already on lots not released yet, I doubt it will happen.

[Lottoguy]

Location is the key. Look at the map and make that decision. I feel it will take at least five years before any large gains can be made off a new home right now.

[Michael 61]

My hope is there should be a restriction on VLS agents buying home, and getting prime houses in Richmond.

As you know personally, you lost out on more than one house. hope is, clients should get first right, and the VLS guys should be last on the list. But guess that developers don’t care who buys, just that it’s sold, and then a year later sold again.

Leaving many who would have been residents out of that location.
Would like to see areas that can’t be for investment. It’s been done before, would be nice to see that policy again.

Our kids would love a place in Richmond East, as well as I would love to move my Mom there. Close to keep watch, and still having a home of her own.
But with multiple names already on lots not released yet, I doubt it will happen.

I wish you luck with Richmond East! I obviously got very lucky, after multiple failed attempts to get into Richmond. And I agree with you, that VLS agents should not be given priority to purchase homes over everyone else - the playing field should be even. The good news is that some of these rental properties bought by investors are being sold and purchased by full-time or part-time residents.

[margaretmattson]

How would one know, who is buying first house in TV, if a particular neighborhood has many rental properties? I'm looking for pro tips here to help keep my search focused.You do not need a professional. Browse the Villages rental sites (just google villages rental homes, several sites will come up)then narrow your search down to the Village your are interested in buying. See too many of your type of home? Avoid that area.

If you are planning to buy in a new area, do not rush. Investors are always involved in the MUST BUY FIRST fury and are part of the reason for a new construction lottery. Some buy more than one home. Being first in an area helps with their mapped out plans for profit. In the past, most would gobble up patio villas and small courtyard villas. Now, verandas are also an investor mecca. The verandas may sit empty for a year or rented out. Villas are usually booked for 3 months in the winter and become short term rentals in the off season. Sometimes, an STR the entire year if the investor prefers it.

Homes near squares are an investors' gold mine. Do not buy near a square without fully accepting that area could become all rentals within a year or so. If investors are making good money on a particular street(s), they will purchase all the preowned when they become available.

On the flip side, if you own on a coveted street with many investors, the resale price of your home may skyrocket. It is a gamble if you are willing to wager.

I lived very near to a square for many years. When AIRBNB became popular, my street became infested with rental homes and fly by night investors. I had to move. Fortunately now, all one has to do is research the area before buying. Or, use caution when told there is a lottery for a new home you desire.

[margaretmattson]

Location is the key. Look at the map and make that decision. I feel it will take at least five years before any large gains can be made off a new home right now. Good advice. The myth that you can sell a new home in one year and make a sizeable profit is just a MYTH. Yes, some homeowners are able to do this. Many are seasoned investors who know what they are doing or have buyers in their pocket before purchasing a home. An average homeowner should be cautious and research thoroughly before buying. It may take longer for an Average Joe to see a sizeable gain.