It feels like two completely different housing markets in the villages.

[jimhoward]

There are hundreds existing homes on the market on MLS. There are many more on thevillages.com. I get at least four emails/day from Zillow reporting price drops.

On the other hand, if you want a home with a larger view lot in the Eastport area you are in a lottery with about 20 competitors for the privilege of paying $650K-$800K. Homes are sold instantaneously.

I live in a nice Winslow CYV on a corner lot. But, I'd like to upgrade to a Veranda with a view lot. It ain't easy. There aren't very many, and you have to enter lotteries.

[manaboutown]

In real estate in my experience it has always been "location, location, location". Looks like that still holds true.

[CoachKandSportsguy]

There are hundreds existing homes on the market on MLS. There are many more on thevillages.com. I get at least four emails/day from Zillow reporting price drops.

On the other hand, if you want a home with a larger view lot in the Eastport area you are in a lottery with about 20 competitors for the privilege of paying $650K-$800K. Homes are sold instantaneously.

I live in a nice Winslow CYV on a corner lot. But, I'd like to upgrade to a Veranda with a view lot. It ain't easy. There aren't very many, and you have to enter lotteries.

tough being in rural FL in a development with more development going on, and people looking buy new versus old. . . there are tipping points for everything, but if a cow pasture looks like it can be developed by a developer, then a developer will develop. .

[dewilson58]

New South is cheaper than developed North??

See a lot of "Northern" properties for sale by owners thinking, "Well if I can get this price, I'll move."

:posting:

[Bill14564]

New South is cheaper than developed North??

See a lot of "Northern" properties for sale by owners thinking, "Well if I can get this price, I'll move."

:posting:

Saw a recent article about a home where the owner wants to double the price in just 24 months. Could be a large amount of work went into a newly constructed house but seems more like shooting for the moon.

[BigDawgInLakeDenham]

We live at the southern end of the existing villages and heard about possible lotteries from our villages agent while shopping here in the summer of 2023. The lots we were viewing were in "The Enclave" and the 2 best were about $300k just for the dirt lot. We realized we were too poor and moved on. There are multi million dollar homes sandwiched together there now. Since then we heard new residents talking more about lotteries and apparently now on the west side of Turnpike, lotteries are a common thing....while OP points out there are thousands of homes available in the market. We chose a prebuilt 3/3 designer home on a pond with a huge yard and no lottery. There are probably 100k homesites over on the new side and there will be something for anyone that can afford "The Lifestyle" lol. I shake my head whenever I hear someone fearing the lottery.

That being said....I whole heartedly believe that these lotteries are a fabrication created to instill a "buyers frenzy" so to speak. Villagers are competitive and everyone wants the best available. The developers are taking advantage of their potential buyers' need for instant gratification and can take a so-so lot and make it attractive when the agent says "so many people want this lot, or home, that there's a lottery and you better put your name and deposit in now". Next day...."oh you got it".

OP mentioned Verandas....most veranda homes don't have a view because it's walled in....but occasionally there are a few. We went over to Shadeybrook and looked at a designer veranda on a preserve and also the shallow creek golf course....had a weirdly shaped huge backyard lol. It was basically the new version of the gardenia model. $800k and I hated the neighborhood because the streets were very tight and the homes seemed closer together. Made us love our home even more. You can find a new home if you want it with a villages agent that knows exactly what you want and they can alert you to lots and homes that will be coming onto the market. We got our home because I found it the morning it was put on the market. Best wishes whatever you decide

[shut the front door]

tough being in rural FL in a development with more development going on, and people looking buy new versus old. . . there are tipping points for everything, but if a cow pasture looks like it can be developed by a developer, then a developer will develop. .

Yep, folks in Fenney are already whining about Coleman Ridge. I don't know when people will learn that buying near undeveloped property in FL is a crapshoot.

[justjim]

Saw a recent article about a home where the owner wants to double the price in just 24 months. Could be a large amount of work went into a newly constructed house but seems more like shooting for the moon.

It’s still true that property is only worth what somebody is willing to pay.

[vintageogauge]

Yep, folks in Fenney are already whining about Coleman Ridge. I don't know when people will learn that buying near undeveloped property in FL is a crapshoot.

It's not the folks in Fenney that are whining as you say. Coleman Ridge is on the western side of The Village of Hammock of Fenney, why they named it that is beyond me, which is far from the original village of Fenney. The industrial park and multi-family housing over there was already in the works when they built homes in Hammock and it was well publicized, buyer beware.

[Bill14564]

It's not the folks in Fenney that are whining as you say. Coleman Ridge is on the western side of The Village of Hammock of Fenney, why they named it that is beyond me, which is far from the original village of Fenney. The industrial park and multi-family housing over there was already in the works when they built homes in Hammock and it was well publicized, buyer beware.

The headline from the news source that shall not be named:
Village of Fenney residents wary about massive Coleman Ridge development

[asianthree]

We live at the southern end of the existing villages and heard about possible lotteries from our villages agent while shopping here in the summer of 2023. The lots we were viewing were in "The Enclave" and the 2 best were about $300k just for the dirt lot. We realized we were too poor and moved on. There are multi million dollar homes sandwiched together there now. Since then we heard new residents talking more about lotteries and apparently now on the west side of Turnpike, lotteries are a common thing....while OP points out there are thousands of homes available in the market. We chose a prebuilt 3/3 designer home on a pond with a huge yard and no lottery. There are probably 100k homesites over on the new side and there will be something for anyone that can afford "The Lifestyle" lol. I shake my head whenever I hear someone fearing the lottery.

That being said....I whole heartedly believe that these lotteries are a fabrication created to instill a "buyers frenzy" so to speak. Villagers are competitive and everyone wants the best available. The developers are taking advantage of their potential buyers' need for instant gratification and can take a so-so lot and make it attractive when the agent says "so many people want this lot, or home, that there's a lottery and you better put your name and deposit in now". Next day...."oh you got it".

OP mentioned Verandas....most veranda homes don't have a view because it's walled in....but occasionally there are a few. We went over to Shadeybrook and looked at a designer veranda on a preserve and also the shallow creek golf course....had a weirdly shaped huge backyard lol. It was basically the new version of the gardenia model. $800k and I hated the neighborhood because the streets were very tight and the homes seemed closer together. Made us love our home even more. You can find a new home if you want it with a villages agent that knows exactly what you want and they can alert you to lots and homes that will be coming onto the market. We got our home because I found it the morning it was put on the market. Best wishes whatever you decide

Our first visit in TV was the free for all buying of “07”, from 2010 until 2014, our first 3 homes we had 1 hour to take the home. Today It’s far more competitive for certain new Villages, than previously. So here is actual experience of how specs and lots now happening in TV.

The lottery as you are questioning, isn’t a lottery of sorts. Your VLS guy 24-48 hours receives a list of sites that will be released either a build lot or spec home. Every VLS agent has the same info to give to their potential buyers. Then the VLS agent has a list for each lot or home, with all of his clients that would like those properties. With over 350 VLS agents also have the same property and more or less potential buyers.

On the day of release at 0800 the sites go live. Up to 350 agents are clicking each property. By 0805 95% of all properties have anywhere from 1-2 names to over 40. Each agent can screenshot to their customer the list of where their name is.
So out of 15 build lots, we were 5th to 43rd on the list.

We were first on #16 lot release. Not the ideal lot, but checked off model fit, view lot, stretch 6’ front and back, room for small pool. What we didn’t get was lot stretch sides, no 3 car garage just a golf cart garage, larger lot for bigger pool.

After we wrote $10,000 check to lot #16, we continued on 5 more build lots that would have fit more of our needs. We were #2 on 3 lots, and #11 and above on the last 2. If we would have taken one of the last 5 lots we would have lost our $10,000 deposit on lot #16.

[Pondboy]

It's not the folks in Fenney that are whining as you say. Coleman Ridge is on the western side of The Village of Hammock of Fenney, why they named it that is beyond me, which is far from the original village of Fenney. The industrial park and multi-family housing over there was already in the works when they built homes in Hammock and it was well publicized, buyer beware.


In Florida, a “Hammock” is a large stand of hardwood trees and palms that grow on slightly elevate land. The beautiful village of Hammock @ Fenney has such a feature, hence the name.

We are not “whining” about the development, you’re just reading the sensational headlines of an on-line local “National Enquirer”.

[Pondboy]

There are hundreds existing homes on the market on MLS. There are many more on thevillages.com. I get at least four emails/day from Zillow reporting price drops.

On the other hand, if you want a home with a larger view lot in the Eastport area you are in a lottery with about 20 competitors for the privilege of paying $650K-$800K. Homes are sold instantaneously.

I live in a nice Winslow CYV on a corner lot. But, I'd like to upgrade to a Veranda with a view lot. It ain't easy. There aren't very many, and you have to enter lotteries.

When we looked at homes 3 years ago before we custom built, the homes up north were as expensive as a new one.

When one took into account outdated kitchens,baths, AC units and possibly a new roof, the new homes were more appealing.

Granted you had a mature landscape but at the end of the day, you were just too expensive for what you were asking.

Not sure if that’s changed but it’s what we faced back then. So when you compare the houses (new vs. old) keep that in mind.

[Normal]

New South is cheaper than developed North??

See a lot of "Northern" properties for sale by owners thinking, "Well if I can get this price, I'll move."

:posting:

And then there is that little bitty of an EXTRA charge….the BOND of 50 K. It’s all int he fine print.

[asianthree]

And then there is that little bitty of an EXTRA charge….the BOND of 50 K. It’s all int he fine print.

What percentage do you really believe Don’t have a clue about a Bond? The bond stays with the house as it is sold, rarely do you find new home with paid bond. Our last four houses sold with bond in place, not a surprise to anyone bidding on the homes. I must give too much credit to those buyers in TV, not buying with blindfold on. Even my parents in their 80s asked balance of bonds. according to you most are just clueless and bonds are hidden in the fine print.:faint: or maybe it your personal experience that you didn’t see the bond fine print and are warning all.

[Topspinmo]

What percentage do you really believe Don’t have a clue about a Bond? The bond stays with the house as it is sold, rarely do you find new home with paid bond. Our last four houses sold with bond in place, not a surprise to anyone bidding on the homes. I must give too much credit to those buyers in TV, not buying with blindfold on. Even my parents in their 80s asked balance of bonds. according to you most are just clueless and bonds are hidden in the fine print.:faint: or maybe it your personal experience that you didn’t see the bond fine print and are warning all.

It may stay with home but the owners responsible for paying it whether it be year or 20. Yes it is extra expenses.

[Happydaz]

tough being in rural FL in a development with more development going on, and people looking buy new versus old. . . there are tipping points for everything, but if a cow pasture looks like it can be developed by a developer, then a developer will develop. .

Are you correct in saying that “people are looking to buy new” rather than buy resales? Anyone know the actual figures of new versus resales per month?

[DrMack]

It may stay with home but the owners responsible for paying it whether it be year or 20. Yes it is extra expenses.

We paid ours off a month after the house was built and closed on. It would make the house easier to sell, but we would lose money on the sale because home values aren’t that good right now in Dabney.

[Babubhat]

And then there is that little bitty of an EXTRA charge….the BOND of 50 K. It’s all int he fine print.

The yearly bond is nothing but extra real estate tax. Peanuts compared to the real estate bill in the Northeast.

[FloridaGuy66]

It's not the folks in Fenney that are whining as you say. Coleman Ridge is on the western side of The Village of Hammock of Fenney, why they named it that is beyond me, which is far from the original village of Fenney.

The Hammock of Fenney is adjacent to the Village of Fenney, how can something adjacent be far? Even the furthest part of the Village of Fenney from Hammock of Fenney is no more than 5 minutes away.

[vintageogauge]

The Hammock of Fenney is adjacent to the Village of Fenney, how can something adjacent be far? Even the furthest part of the Village of Fenney from Hammock of Fenney is no more than 5 minutes away.

The project is on the far west side of Hammock, there will be no sight or sound from the project within the Village of Fenney as it is a pretty good distance both west and south of the entrance to Fenney or to any of the homes within Fenney. The only problem anyone will have is going to be the increased traffic on 301 and 470 along with Meggison which everyone is going to have to put up with.

[rsmurano]

The enclave is an area that TV were offering big discounts for land because nobody wants to build there. This is the only area that 1/2 the lots are still available 1 or 2 years after development started, even DeLuna between the turnpike and 301 were more discounted but sold out within 6 months.
The enclave was supposed to be a unique premier village like the older premier upscale home villages but the enclave has a mix of large premier homes and designer homes.
The lotteries going on in Eastport have many more people than 20 bidding on homes/lots. I know multiple friends that tried up to 7 times to buy a home/lot, so it’s not a gimmick.
If TV wanted to gouge the buyer, instead of the lottery, have them do an actual bidding war for each home/lot, you will see even higher prices than what you see now.

[Lindawc]

Yep, folks in Fenney are already whining about Coleman Ridge. I don't know when people will learn that buying near undeveloped property in FL is a crapshoot.

What is Coleman Ridge?

[Normal]

I recall buffalo that used to be near 466 and the south end of the Villages on Buena Vista. That was UNTIL they started building south of 466 lol. If there is a dollar to be made then it is made, regardless of those who don’t have control of the circumstances of bordering property.

[edtherock]

Well people may like new and have to be in a lottery to get what they want which takes time. Or they can buy my 22 year old stucco house with the most beautiful view of Laurel valley palmers course tee number 4, green number 6 and a water view of birds and wildlife sitting on a cul de sac. With privacy from neighbors. And you don’t need to pay 50k on top of the new house price for a bond! !oh don’t forget 2 squares in 10 minute golf cart ride, Publix , Costco, Ace , and restaurants and bars all within 5 minute golf cart ride. Convenience galore!!!! Mini split in lanai with 8 double sliders and a bird cage. 2400 sq feet hvac space Not for sale ——but a high enough offer gets it!!! lol.

[Snakster66]

Well people may like new and have to be in a lottery to get what they want which takes time. Or they can buy my 22 year old stucco house with the most beautiful view of Laurel valley palmers course tee number 4, green number 6 and a water view of birds and wildlife sitting on a cul de sac. With privacy from neighbors. And you don’t need to pay 50k on top of the new house price for a bond! !oh don’t forget 2 squares in 10 minute golf cart ride, Publix , Costco, Ace , and restaurants and bars all within 5 minute golf cart ride. Convenience galore!!!! Mini split in lanai with 8 double sliders and a bird cage. 2400 sq feet hvac space Not for sale ——but a high enough offer gets it!!! lol.


I believe we share a village (moved here in September). Love, love, love it.

[Snakster66]

In real estate in my experience it has always been "location, location, location". Looks like that still holds true.

Precisely why we didn't buy new. I think here, more than most communities, "location, location, location" varies greatly depending on the buyer.

[NoMo50]

The project is on the far west side of Hammock, there will be no sight or sound from the project within the Village of Fenney as it is a pretty good distance both west and south of the entrance to Fenney or to any of the homes within Fenney. The only problem anyone will have is going to be the increased traffic on 301 and 470 along with Meggison which everyone is going to have to put up with.

I was at the Board of Commissioners meeting this past Tuesday night at Everglades Rec Center, where a great deal of the agenda concerned the Coleman Ridge project. There were several residents there to voice concern over the development. The main thing on the agenda centered on the addition of 121 acres into the Coleman Ridge project, and rezoning of those additional acres. The project carries a mixed zoning designation, allowing a possible combination of residential, commercial, and industrial usage. A representative from the developer spoke at the hearing, and said the developer has made no decision, as yet, exactly how that property will be developed. That seems to be what has folks most concerned...i.e., there could be an industrial park placed within that development. They have a right to be concerned.

[Normal]

I was at the Board of Commissioners meeting this past Tuesday night at Everglades Rec Center, where a great deal of the agenda concerned the Coleman Ridge project. There were several residents there to voice concern over the development. The main thing on the agenda centered on the addition of 121 acres into the Coleman Ridge project, and rezoning of those additional acres. The project carries a mixed zoning designation, allowing a possible combination of residential, commercial, and industrial usage. A representative from the developer spoke at the hearing, and said the developer has made no decision, as yet, exactly how that property will be developed. That seems to be what has folks most concerned...i.e., there could be an industrial park placed within that development. They have a right to be concerned.

Sure, it’s very close to 75 and could generate real profits for the right company. It has to happen sooner or later. The cement factory down the street is generating record profits even though it basically is in downtown Middleton.

[Rhonda West]

Hey Jim - I am with you on this! I've had my Gardenia for sale since August and have had 1 ridiculous offer. Seems that GONE are the days of having your house sell in days or weeks after listing it. The Villages has DEFINITELY changed over to a BUYERS market after being a SELLERS market for years. Definitely disappointing...BTW I am in the market for a Winslow-C CYV and there are not many, if ANY, new or pre-owned!

[asianthree]

The enclave is an area that TV were offering big discounts for land because nobody wants to build there. This is the only area that 1/2 the lots are still available 1 or 2 years after development started, even DeLuna between the turnpike and 301 were more discounted but sold out within 6 months.

.

You might want to update your post. None of the lots were offered at big discounts…today no lots are available, 2 homes are pending, and one is up for 1.5 million. We would have built there because it’s extremely quiet, and removed. But when designers were in the mix for “Premier” neighborhood, with same interior as any house, we passed. So far every preowned in Enclave has sold rather quickly, with a very nice profit

[Bassdeer]

Well people may like new and have to be in a lottery to get what they want which takes time. Or they can buy my 22 year old stucco house with the most beautiful view of Laurel valley palmers course tee number 4, green number 6 and a water view of birds and wildlife sitting on a cul de sac. With privacy from neighbors. And you don’t need to pay 50k on top of the new house price for a bond! !oh don’t forget 2 squares in 10 minute golf cart ride, Publix , Costco, Ace , and restaurants and bars all within 5 minute golf cart ride. Convenience galore!!!! Mini split in lanai with 8 double sliders and a bird cage. 2400 sq feet hvac space Not for sale ——but a high enough offer gets it!!! lol.

Sounds like the Village I want. What village is this? You can PM me if you want. The clues you gave I think I found it.

[goneil2024]

IMO TV and specifically the VLS is a well-planned and controlled market with significant capital resources to sustain market, supply and interest rate shifts. As observed, the "lottery" is a way of creating competition between buyers by the seller (developer). Also, as observed by some on this BLOG there are two distinct markets, the MLS and VLS however where the MLS is open and consists of many independent (mostly) sellers while the VLS is not.

As someone who expects to purchase a home in TV, it's clear to me that TV is employing time proven marketing techniques developed by OPEC for oil (a commodity) and others such as the Diamond Market (a luxury product). In the case of the global diamond market prices are influenced by managing the release of rough diamonds to the market through a system called the "single channel" distribution, where only authorized buyers ("sightholders") could purchase diamonds directly from the supplier/cartel, effectively limiting supply and maintaining high prices.

Similarly, in the case of OPEC, the Organization of the Petroleum Exporting Countries, influences global oil prices by collectively managing the supply of oil produced by its member nations, essentially controlling a significant portion of the world's oil production, which allows them to raise prices by cutting production when needed[/I][/B], and lower prices by increasing production when necessary.


In each case (Diamonds and Oil) there is truly no shortage of Oil (just willingness of suppliers) or Diamonds (to release existing supply) in the world, just a limited number of sources that control the supply creating the 'market'. It's all about who controls the market channel and by extension availability of "product" to the ultimate consumer of the product.

In the case of TV and the VLS, my options are limited, even in a buyers' market, so recognizing the market dynamics and what leverage I have is essential. I can control my willingness to make offers on a home(s) in a given village by selecting a model, location, 'New' or 'pre-owned'. Also, as interest rates rise, the number of baby boomers, and retirees' shifts/declines, carry costs increase (tax, material, fees, etc.) I would expect the supply of homes to increase as published in the MLS and VLS. We are seeing and published reports support that the actual sales price of homes offered through MLS are declining as measured by Year-Over-Year (YOY) sales price per square foot (SF) for a given property/type of property or expanding the quality of the offering, e.g., more extras, no bond, furnishing, view, features, etc.,. However, on the VLS being a more disciplined and controlled market as time goes on, we may either see fewer new homes being released as in the case of the lottery, or for those being offered lower offering prices on a SF basis.

In the final analysis I believe homes, love, and diamonds are very personal and emotional choice, TV created a luxury product that blends lifestyle with some features of a commodity, let's not confuse the characteristics of one with the other.

[Normal]

IMO TV and specifically the VLS is a well-planned and controlled market with significant capital resources to sustain market, supply and interest rate shifts. As observed, the "lottery" is a way of creating competition between buyers by the seller (developer). Also, as observed by some on this BLOG there are two distinct markets, the MLS and VLS however where the MLS is open and consists of many independent (mostly) sellers while the VLS is not.


Hardly the case. External markets influence the Villages in a myriad of ways. If homes with the same amount of square footage, amenities and other accesses located inside the Villages sell for half the price of new homes in the (Now much smaller) Villages market, the builder will have to offset pricing so they are still competitive. Labor and government are also large players in the real estate market. Used and Newsed priced homes will be noticed by buyers who want a piece of the Villages pie. The development has grown too big to control as you suggest.

The answer for them is to start a new Villages with differences in amenities and access. It’s really past due for them to do so. The market has already influenced the charging of “upgrades” which were once always part of the deal.

[kansasr]

You might want to update your post. None of the lots were offered at big discounts…today no lots are available, 2 homes are pending, and one is up for 1.5 million. We would have built there because it’s extremely quiet, and removed. But when designers were in the mix for “Premier” neighborhood, with same interior as any house, we passed. So far every preowned in Enclave has sold rather quickly, with a very nice profit

Just because the Enclave lots aren't listing on the Villages website at the moment, does not necessarily make them all sold. As of the end of November, according to the Lake County Property Appraiser, 34 of the 122 lots in the Enclave were still owned by the developer. Given how slowly these interior lots have been selling, I doubt all 34 have been sold since then.

Here's a drawing of the Enclave lots showing the developer owned lots (in orange) as of the end of November.

[Normal]

Just because the Enclave lots aren't listing on the Villages website at the moment, does not necessarily make them all sold. As of the end of November, according to the Lake County Property Appraiser, 34 of the 122 lots in the Enclave were still owned by the developer. Given how slowly these interior lots have been selling, I doubt all 34 have been sold since then.

Here's a drawing of the Enclave lots showing the developer owned lots (in orange) as of the end of November.

Almost every Florida builder is shadowing inventory right now.

[Bill14564]

Just because the Enclave lots aren't listing on the Villages website at the moment, does not necessarily make them all sold. As of the end of November, according to the Lake County Property Appraiser, 34 of the 122 lots in the Enclave were still owned by the developer. Given how slowly these interior lots have been selling, I doubt all 34 have been sold since then.

Here's a drawing of the Enclave lots showing the developer owned lots (in orange) as of the end of November.

Does the Lake County Property Appraiser shows lots that all lots that are under contract (sold), all lots that have closed, or only those lots that the sales have been recorded?

[kansasr]

Does the Lake County Property Appraiser shows lots that all lots that are under contract (sold), all lots that have closed, or only those lots that the sales have been recorded?
Just closed and the deed recorded. However, Lake County gets this done in a much more timely basis than Sumter. Based upon what I’ve seen, these lots are still not sold

[Bill14564]

Just closed and the deed recorded. However, Lake County gets this done in a much more timely basis than Sumter. Based upon what I’ve seen, these lots are still not sold

So either the Developer is hiding them for some reason rather than selling them...

OR

... they are under contract, not available for sale, but not yet closed (perhaps not technically sold, but technically not available for sale to anyone else).

[kansasr]

So either the Developer is hiding them for some reason rather than selling them...

OR

... they are under contract, not available for sale, but not yet closed (perhaps not technically sold, but technically not available for sale to anyone else).

I think #36 might be on to something....lots of developers holding back inventory at the moment. We've only been seeing 1 or 2 of the interior lots in The Enclave being sold each month, so I doubt that all of these have suddenly gone under contract.

[Nana2Teddy]

In Florida, a “Hammock” is a large stand of hardwood trees and palms that grow on slightly elevate land. The beautiful village of Hammock @ Fenney has such a feature, hence the name.

We are not “whining” about the development, you’re just reading the sensational headlines of an on-line local “National Enquirer”.

Thank you for correcting the name. It boggles my mind how many people call it Hammock of Fenney, even people who live there. And it’s not true that it’s far from Fenney as someone stated. It’s literally right next to Fenney Grill and the golf course. There’s so much misinformation stated here by people who have no clue about the southern areas. We don’t live in Fenney (we’re in Deluna), but we love it and go often to the grill and nature trail. The Fenney regional rec center is gorgeous too, with a family pool that feels like a luxury resort where you can have food and drinks served poolside.

Thank you for the info on how the name was chosen. We didn’t know about the hammock of hardwood and palm trees. Very cool!

[Nana2Teddy]

The Hammock of Fenney is adjacent to the Village of Fenney, how can something adjacent be far? Even the furthest part of the Village of Fenney from Hammock of Fenney is no more than 5 minutes away.

It’s Hammock AT Fenney. Not OF.

[Nana2Teddy]

Our first visit in TV was the free for all buying of “07”, from 2010 until 2014, our first 3 homes we had 1 hour to take the home. Today It’s far more competitive for certain new Villages, than previously. So here is actual experience of how specs and lots now happening in TV.

The lottery as you are questioning, isn’t a lottery of sorts. Your VLS guy 24-48 hours receives a list of sites that will be released either a build lot or spec home. Every VLS agent has the same info to give to their potential buyers. Then the VLS agent has a list for each lot or home, with all of his clients that would like those properties. With over 350 VLS agents also have the same property and more or less potential buyers.

On the day of release at 0800 the sites go live. Up to 350 agents are clicking each property. By 0805 95% of all properties have anywhere from 1-2 names to over 40. Each agent can screenshot to their customer the list of where their name is.
So out of 15 build lots, we were 5th to 43rd on the list.

We were first on #16 lot release. Not the ideal lot, but checked off model fit, view lot, stretch 6’ front and back, room for small pool. What we didn’t get was lot stretch sides, no 3 car garage just a golf cart garage, larger lot for bigger pool.

After we wrote $10,000 check to lot #16, we continued on 5 more build lots that would have fit more of our needs. We were #2 on 3 lots, and #11 and above on the last 2. If we would have taken one of the last 5 lots we would have lost our $10,000 deposit on lot #16.
We tried 4 times for a veranda home in Richmond with no luck. We were #2 once, but #1 bought it. We then went to an open house in DeLuna for a veranda Mason and decided to buy it even though it didn’t check all of our boxes. Most, not all. We’re still happy two years later, and not the least bit tempted to move down to Eastport. We like being close to Brownwood, and an easy cart ride up to Lake Sumter Landing, but it’s also an easy cart ride to Eastport area. Plus we’re 5 minutes from the 301 turnpike onramp for Disney trips and other trips outside the bubble.

[vintageogauge]

There was no statement that Hammock is far from Fenney. It was stated that the Coleman development itself is pretty far from Fenney both west and south but it is right beside Hammock and that's why those homes are not going to sell very easily once construction begins.

[asianthree]

We tried 4 times for a veranda home in Richmond with no luck. We were #2 once, but #1 bought it. We then went to an open house in DeLuna for a veranda Mason and decided to buy it even though it didn’t check all of our boxes. Most, not all. We’re still happy two years later, and not the least bit tempted to move down to Eastport. We like being close to Brownwood, and an easy cart ride up to Lake Sumter Landing, but it’s also an easy cart ride to Eastport area. Plus we’re 5 minutes from the 301 turnpike onramp for Disney trips and other trips outside the bubble.

We rented in 2007, then bought in Pennacamp in 2010, Fernandina in 2012, Designer in 2014, and built Premier in 2022. While this house fits our lifestyle for now, things are always changing.

We have zero attachment to any house in TV, always can be something down the road. We do travel north during summers to our family home, and the Lake house, to boat and swim in a lake that nothing tries to eat you:a040:

[coffeebean]

Sure, it’s very close to 75 and could generate real profits for the right company. It has to happen sooner or later. The cement factory down the street is generating record profits even though it basically is in downtown Middleton.

Speaking of the cement factory.......Hubby and I took a drive down south for a look see. OMG......the cement factory looms over some of the homes. What an awful awful view.

[asianthree]

Speaking of the cement factory.......Hubby and I took a drive down south for a look see. OMG......the cement factory looms over some of the homes. What an awful awful view.

It doesn’t mean the facility won’t eventually move farther south, as buildings in the general area will be completed.

[Normal]

It doesn’t mean the facility won’t eventually move farther south, as buildings in the general area will be completed.

Why would they do that? How could it be moved? You are likely talking in millions of tons of weight. Ash Grove Cement is the sixth largest cement plant in the country. Besides, even if it was attempted, there still lies the adjacent Coleman Federal Prison which will never close and is of course located on federally owned government land.

[J1ceasar]

There is not a glut of new homes, there is a lot of too many people with too much money.

The villages is a great place but you paying 300% more per square foot than many other established communities.
.
Homes in established villages are only 200% more per square foot than other communities and yet someone always wants new. I can tell you from experience it doesn't cost $300,000 more to get a new kitchen and new floor coverings and repaint.

A fool and his money are soon parted. And Florida will have its ups and downs, the cycle goes on and on

[MikeN]

So true. We have a 3/2 corner lot veranda and it’s been on the market for four months. Little interest. Gutters, lanai shades, updated landscape, three car garage, water softener etc. the issue is the developer has these half million dollar fixer uppers for a seemingly bargain but aren’t when you factor in all the improvements

[Normal]

So true. We have a 3/2 corner lot veranda and it’s been on the market for four months. Little interest. Gutters, lanai shades, updated landscape, three car garage, water softener etc. the issue is the developer has these half million dollar fixer uppers for a seemingly bargain but aren’t when you factor in all the improvements

We are undergoing an inventory explosion like the Villages has never, ever seen. There isn’t any good news on that front until at least early March for now. Lending rates are staying the same and insurance is only going up. We will likely see many homes at 75 days on market and a lot more sold homes will have actual pricing at 200 per square foot. Indicators of all this are the actual numbers which are still climbing. Zillow, real estate.com and others all paint the same picture on inventory. An MLS with nearly a thousand homes and the scaling back of new construction are staring boldly at all of us.

There is a possible amelioration? Labor tightening because of deportations could come into play? It is still too early to know that though. Perhaps a ray of sunshine shine on the market after the Fed meeting in mid March?

Now is neither the time to sell or buy. The market is saturated and prices haven’t decreased enough. If I was a buyer, I would focus on the trending reaction after the Fed meeting in March.

[bonbonn]

I dont think any home in the village is worth what they are charging. They create a frenzy and people follow. there are plenty of homes for sale dont fall for the frenzy. For me I would buy outside the village with some land and more south its warmer.

[Normal]

I dont think any home in the village is worth what they are charging. They create a frenzy and people follow. there are plenty of homes for sale dont fall for the frenzy. For me I would buy outside the village with some land and more south its warmer.

Your choice. An interesting phenomenon in all real estate markets right now is the lock-in effect. People who were reluctant to sell or move because of their existing low mortgage rate are finally starting to sell. The pandemic is over.

[Lottoguy]

Most of the north especially homes north of 466 have their bonds paid off.

[dewilson58]

I dont think any home in the village is worth what they are charging. They create a frenzy and people follow. there are plenty of homes for sale dont fall for the frenzy. For me I would buy outside the village with some land and more south its warmer.

You're right, purchased 10 years ago and the value has more than doubled.

Oh wait, nevermind.

[ChezD]

Saw a recent article about a home where the owner wants to double the price in just 24 months. Could be a large amount of work went into a newly constructed house but seems more like shooting for the moon.

If you look back historically, IMO, hasn't that always been the investor’s goal?

[Bill14564]

If you look back historically, IMO, hasn't that always been the investor’s goal?

Goal, absolutely. My goal is to win a $500M lottery. Reasonable expectation?

My home sold to me with an increase of about 40% over 36 months. According to Zillo it has increased another 60% over the last 72 months. 100% over 24 months seems unrealistic.

[Normal]

You're right, purchased 10 years ago and the value has more than doubled.

Oh wait, nevermind.

Certainly not the fast cash some try to achieve, but reasonable just like a 10 year bond. Maybe just a little more risk and maintenance though.

[dewilson58]

Certainly not the fast cash some try to achieve, but reasonable just like a 10 year bond. Maybe just a little more risk and maintenance though.

No fast cash for me.....................my children will get it and whatever value there be, unless I need money for bail.

[twoplanekid]

We are undergoing an inventory explosion like the Villages has never, ever seen. There isn’t any good news on that front until at least early for now. Lending rates are staying the same and insurance is only going up. We will likely see the 75 days on market phrase and a lot more sold homes will have actual pricing at 200 per square foot. Indicators of all this are the actual numbers which are still climbing. Zillow, real estate.com and others all paint the same picture on inventory. An MLS with nearly a thousand homes and the scaling back of new construction are staring boldly at all of us.

There is a possible amelioration? Labor tightening because of deportations could come into play? It is still too early to know that though. Perhaps a ray of sunshine drops on the market with the Fed meeting in mid March?

Now is neither the time to sell or buy. The market is saturated and prices haven’t decreased enough. If I was a buyer, I would focus on the trending reaction after the Fed meeting in March.

Sale of new homes in The Villages by year
Year Homes Sold (Home and Lot) Average Sale Price
1986 511 *
1987 543 *
1988 517 *
1989 542 $ 74,000
1990 502 79,000
1991 430 81,000
1992 562 87,000
1993 567 93,000
1994 686 98,000
1995 700 106,000
1996 753 115,000
1997 1,054 119,000
1998 1,321 129,000
1999 1,544 139,000
2000 1,776 151,000
2001 2,074 156,000
2002 2,260 163,000
2003 3,329 168,000
2004 3,955 204,000
2005 4,263 232,000
2006 3,935 257,000
2007 2,403 251,000
2008 2,236 231,000
2009 2,115 229,000
2010 2,208 231,000
2011 2,307 241,000
2012 2,850 244,000
2013 3,419 271,000
2014 2,601 304,000
2015 2,294 304,000
2016 1,966
2017 2,231
2018 2,134 281,000
2019 2,429 307,000
2020 2,452
2021 4,004
2022 3,923
2023 3,029 410,000
2024 3,208
_________________

[Normal]

Sale of new homes in The Villages by year
Year Homes Sold (Home and Lot) Average Sale Price
1986 511 *
1987 543 *
1988 517 *
1989 542 $ 74,000
1990 502 79,000
1991 430 81,000
1992 562 87,000
1993 567 93,000
1994 686 98,000
1995 700 106,000
1996 753 115,000
1997 1,054 119,000
1998 1,321 129,000
1999 1,544 139,000
2000 1,776 151,000
2001 2,074 156,000
2002 2,260 163,000
2003 3,329 168,000
2004 3,955 204,000
2005 4,263 232,000
2006 3,935 257,000
2007 2,403 251,000
2008 2,236 231,000
2009 2,115 229,000
2010 2,208 231,000
2011 2,307 241,000
2012 2,850 244,000
2013 3,419 271,000
2014 2,601 304,000
2015 2,294 304,000
2016 1,966
2017 2,231
2018 2,134 281,000
2019 2,429 307,000
2020 2,452
2021 4,004
2022 3,923
2023 3,029 410,000
2024 3,208
_________________

That’s great, but it has nothing to do with the MLS housing market. Price reductions, the OLP etc tell the story of the market where houses sit almost 70 days for a sale. Hurray for the new home market.

[DonnaNi4os]

New South is cheaper than developed North??

See a lot of "Northern" properties for sale by owners thinking, "Well if I can get this price, I'll move."

:posting:

I believe the opposite is true. The bonds alone are much higher in the southern end. They have to build new infrastructure which is expensive.

[FloridaGuy66]

I believe the opposite is true. The bonds alone are much higher in the southern end. They have to build new infrastructure which is expensive.

It's an apples to oranges comparison though. New home you're going to have a $50-60k bond. Old home, you're likely going to need $50-60k to make it modern looking and with updated appliances like in the new home.

[jimhoward]

Here is one concrete example illustrating why I think existing homes sit on the market a relatively long time.

Three beautiful new Veranda homes were sold in Water's Edge last week in a lottery. They had greatly oversized lots, overlooked a pond, and had pools and big bird cages. Absolutely gorgeous. They sold the homes for $690K, $763K and $786K. A Maybury and 2 Jacksons.

Now look on thevillages.com and on Zillow for pool homes with large lots, overlooking water or some spectacular view. You will find a few but none with an asking price less than $1M and typical is about $1.1M. I am sure the owners put money into them, but even so I think it is little wonder that people clamor to buy new homes.

The only new houses that sit on the market for a long time are on interior lots.

[vintageogauge]

Here is one concrete example illustrating why I think existing homes sit on the market a relatively long time.

Three beautiful new Veranda homes were sold in Water's Edge last week in a lottery. They had greatly oversized lots, overlooked a pond, and had pools and big bird cages. Absolutely gorgeous. They sold the homes for $690K, $763K and $786K. A Maybury and 2 Jacksons.

Now look on thevillages.com and on Zillow for pool homes with large lots, overlooking water or some spectacular view. You will find a few but none with an asking price less than $1M and typical is about $1.1M. I am sure the owners put money into them, but even so I think it is little wonder that people clamor to buy new homes.

The only new houses that sit on the market for a long time are on interior lots.

It has always been that way, there are a ton of interior homes for sale, take your pick both new and pre-owned however the new ones are cheaper. Now go try to find a designer on a view lot without a pool, very, very few in either pre-owned or new and those are the homes that are sold quickly, 4- bedrooms even more scarce.

[asianthree]

It has always been that way, there are a ton of interior homes for sale, take your pick both new and pre-owned however the new ones are cheaper. Now go try to find a designer on a view lot without a pool, very, very few in either pre-owned or new and those are the homes that are sold quickly, 4- bedrooms even more scarce.

4/3 with 2800sf and more with 800+sf garage and huge lanais, add a view, rarely hit the market. Most agents have a list of clients looking for those homes.

[vintageogauge]

Exactly.

[DAVES]

What percentage do you really believe Don’t have a clue about a Bond? The bond stays with the house as it is sold, rarely do you find new home with paid bond. Our last four houses sold with bond in place, not a surprise to anyone bidding on the homes. I must give too much credit to those buyers in TV, not buying with blindfold on. Even my parents in their 80s asked balance of bonds. according to you most are just clueless and bonds are hidden in the fine print.:faint: or maybe it your personal experience that you didn’t see the bond fine print and are warning all.

Reminder different strokes for different folks. "Last four houses." You must be running a business buying and selling homes. Far as recapturing a paid off bond, I would think like anything else it depends on the buyer and the seller perhaps the hired sales person. The buyer may not like the appliances, landscaping, pool etc.
A paid bond is cash money. The interest on the bond is higher than mortgage interest. We figure it both ways and we do better with the standard deduction than itemizing so mortgage interest or bond interest are not deductible.

"Not aware of," That is the problem with so many problems. It is not like what candy to buy. It is serious money. Learn, KNOW before you sign.

[DAVES]

4/3 with 2800sf and more with 800+sf garage and huge lanais, add a view, rarely hit the market. Most agents have a list of clients looking for those homes.

REMINDER. The agent is a SALES PERSON-they are not your friend. Unless it is a buyers agent they work for the seller. Some seem to enjoy packing and moving. Old wise tale the grass is always greener on the other side of the hill. Till you get there and find it is greener because of the weeds. Typical iine. I just got exactly what you want. There are others looking at it better RUSH to buy it. Not stated. They are asking far too much and it will not appraise for that.

[asianthree]

Reminder different strokes for different folks. "Last four houses." You must be running a business buying and selling homes.

Nope first has was a Vaca for us and both of our parents to winter. Both sets of parents wanted to winter at the same time, so need for house #2. Third house, because spouse semi retired and didn’t want to share with parents.
3 of the 4 parents passed, sold 1,2,3, the surviving parent will be in need of full time care, so built 4th house to accommodate.

As I said life changes, not every one would buy homes to accommodate parents to winter without using their income. And definitely many would not change their lifestyle to take on a failing health of a parent.

As far as bonds never paid any off, including the current house. But FYI one does pay capital gains on non homestead, so you could count that as running a business, Or caring children who just wanted to make life easier for those who raised them, so kind of business of the heart

[DAVES]

So true. We have a 3/2 corner lot veranda and it’s been on the market for four months. Little interest. Gutters, lanai shades, updated landscape, three car garage, water softener etc. the issue is the developer has these half million dollar fixer uppers for a seemingly bargain but aren’t when you factor in all the improvements

Buying or selling a home is not something most of us do often. The home we sold, I figured six months to sell. Typical stuff. A bunch of tire kickers. Then could they get the mortgage etc. Surprise it sold days after we listed it and a CASH deal. The realtors, like all people like to open NEW TOYS. They forget about stuff listed four months ago. Might be wise to ask them why no one is looking. There is an art to being a noisy gear but not a pain on the shaft. I'm neither buying or selling. Reading the post. A three car garage is a plus, used water softener etc add little in terms of value. I do not see a corner property as a plus. You end up with no back yard, people walking their dogs, people walking across your property etc

[DAVES]

We are undergoing an inventory explosion like the Villages has never, ever seen. There isn’t any good news on that front until at least early March for now. Lending rates are staying the same and insurance is only going up. We will likely see many homes at 75 days on market and a lot more sold homes will have actual pricing at 200 per square foot. Indicators of all this are the actual numbers which are still climbing. Zillow, real estate.com and others all paint the same picture on inventory. An MLS with nearly a thousand homes and the scaling back of new construction are staring boldly at all of us.

There is a possible amelioration? Labor tightening because of deportations could come into play? It is still too early to know that though. Perhaps a ray of sunshine shine on the market after the Fed meeting in mid March?

Now is neither the time to sell or buy. The market is saturated and prices haven’t decreased enough. If I was a buyer, I would focus on the trending reaction after the Fed meeting in March.

For what it is worth,"now is neither the time to sell or the time to buy." That is true of everything. I think of a deer in the headlights of a car. Go forward, go back or stand still. We do not know what the future will be. That mentioned deer, makes its own choice which is what we all must due. Shoulda, coulda, mighta simply does not matter. It is hard to accept. INFLATION was 25% the past four years. Based on HISTORY prices will not go back to what they were four years ago unless we have a serious recession called a depression.

How to decide what to do. Old school perhaps. Write it down on index cards-it forces me to think clearly and commit. Exchange your pile of cards with others involved-wife-kid and or. That can be a surprise-all may not think the same or think The Villages or even Florida is what fits.

Finance? What can you afford? Wherever your money comes from is it secure? Many people think SHOULD BE. Problem is SHOULD BE by definition is not. We must decide by what is not by what should be.

[DAVES]

I dont think any home in the village is worth what they are charging. They create a frenzy and people follow. there are plenty of homes for sale dont fall for the frenzy. For me I would buy outside the village with some land and more south its warmer.

Forgive me. So why read and post here? There are tons of alternatives. Before moving to the villages I became aware of an Island for sale off North Carolina. It was like 10 acres, the house looked to be in good shape and it had a small herd of wild horses. I had it all figured out set up my own kingdom. Seems the Queen did not like the idea. Not sure. After the hurricane, it might be underwater.

More land? Coincidence ot related to my, not bought kingdom. A former business associate bought 180 acres off the beaten path in N. Carolina. He, his brother and their wives or girl friends live there. I've never been there but it is low land with a stream between mountains. I've not heard from him since the hurricane.

Point is you can be happy or not anywhere.

[Normal]

Forgive me. So why read and post here? There are tons of alternatives. Before moving to the villages I became aware of an Island for sale off North Carolina. It was like 10 acres, the house looked to be in good shape and it had a small herd of wild horses. I had it all figured out set up my own kingdom. Seems the Queen did not like the idea. Not sure. After the hurricane, it might be underwater.

More land? Coincidence ot related to my, not bought kingdom. A former business associate bought 180 acres off the beaten path in N. Carolina. He, his brother and their wives or girl friends live there. I've never been there but it is low land with a stream between mountains. I've not heard from him since the hurricane.

Point is you can be happy or not anywhere.

For sure. There is Lakewood Ranch near Sarasota which is much bigger or the golf cart community of Peachtree Georgia, the nations largest golf cart community. The Villages isn’t the only rodeo in town.

[vintageogauge]

For what it is worth,"now is neither the time to sell or the time to buy." That is true of everything. I think of a deer in the headlights of a car. Go forward, go back or stand still. We do not know what the future will be. That mentioned deer, makes its own choice which is what we all must due. Shoulda, coulda, mighta simply does not matter. It is hard to accept. INFLATION was 25% the past four years. Based on HISTORY prices will not go back to what they were four years ago unless we have a serious recession called a depression.

How to decide what to do. Old school perhaps. Write it down on index cards-it forces me to think clearly and commit. Exchange your pile of cards with others involved-wife-kid and or. That can be a surprise-all may not think the same or think The Villages or even Florida is what fits.

Finance? What can you afford? Wherever your money comes from is it secure? Many people think SHOULD BE. Problem is SHOULD BE by definition is not. We must decide by what is not by what should be.

Now is the best time to buy or to sell as you don't know what tomorrow will bring or even if you will still be around tomorrow. At our ages life is too short to procrastinate.

[shut the front door]

Here is one concrete example illustrating why I think existing homes sit on the market a relatively long time.

Three beautiful new Veranda homes were sold in Water's Edge last week in a lottery. They had greatly oversized lots, overlooked a pond, and had pools and big bird cages. Absolutely gorgeous. They sold the homes for $690K, $763K and $786K. A Maybury and 2 Jacksons.

Now look on thevillages.com and on Zillow for pool homes with large lots, overlooking water or some spectacular view. You will find a few but none with an asking price less than $1M and typical is about $1.1M. I am sure the owners put money into them, but even so I think it is little wonder that people clamor to buy new homes.

The only new houses that sit on the market for a long time are on interior lots.

Have you ever considered that those of use who have a pool home with an outdoor kitchen backing up to a lake and no kissing lanais aren't going anywhere? You can find houses such as these if you look carefully, but most of us who have that and paid $350k for it 15 years ago aren't selling. EVER. And those homes down south aren't any cheaper when you throw in that 50k bond.

[Altavia]

This is one market where buying the lowest cost, interior homes is a poor choice from the long term investment perspective.

Interior lots appreciate at a much lower rate than homes in a more desirable location

Sites like Zillow do not distinguish the difference given how homes are mixed togethet

[jimhoward]

Have you ever considered that those of use who have a pool home with an outdoor kitchen backing up to a lake and no kissing lanais aren't going anywhere? You can find houses such as these if you look carefully, but most of us who have that and paid $350k for it 15 years ago aren't selling. EVER. And those homes down south aren't any cheaper when you throw in that 50k bond.

Yes, understood. People with beautiful homes such as yours value them very highly, and may not sell them until they die. That is why the asking price is over $1M for those that are for sale. But some are indeed for sale and at the asking price they don't sell seem to sell instantly. Equally beautiful new built homes are rare. But they do exist and they have lower cost, even after accounting for upgrades and bonds, than existing homes. I think that is why they do sell instantly. Its not lack of rationality by those buying new built homes