Real estate inventory high. Why?

[AMB444]

Ok, all you smart people of TOTV.

I keep hearing from various sources that the real estate inventory is high right now and many properties are available.

What's your best guess or opinion on why this might be?

Thanks again for your responses!

It's impressive how much knowledge TOTV members have, so I do appreciate you all sharing your thoughts.

[Papa_lecki]

Young families are in starter homes with a 2% mortgage. They cant afford a bigger home with a 6.8% mortgage, which means the retires from up north can’t sell their homes to buy in The Villages.
Once rates come down 100 or 150 basis points, probably between July and September, the settlement agencies will be running 24x7.

[AMB444]

Once rates come down 100 or 150 basis points, probably between July and September, the settlement agencies will be running 24x7.

Interesting, thank you!

So do you predict sales picking up by the end of the year?

[Papa_lecki]

Interesting, thank you!

So do you predict sales picking up by the end of the year?

Keep your eye on the FED meeting on 5/6 and 5/7. See what they do with rates.

[Stu from NYC]

High interest rates making it harder to afford mortgages

[AMB444]

High interest rates making it harder to afford mortgages

Thanks!

Would it make sense to get an ARM and then refinance to standard mortgage when rates seem their lowest?

[CarlR33]

Thanks!

Would it make sense to get an ARM and then refinance to standard mortgage when rates seem their lowest?All of your questions would be based on your personal situation. You can talk to a bank that may allow you to lower your fixed rate (within a time window) should they come down after taking on your mortgage. Standard rule of thumb is one percent lower you should review refinancing (like we all probably did back in the day of high rates).

[Stu from NYC]

Thanks!

Would it make sense to get an ARM and then refinance to standard mortgage when rates seem their lowest?

Hard to answer as we know very little about you. Might want to talk to financial advisor.

Historical standards says rates on the low side for now, my crystal ball is mad at me

[vintageogauge]

Also, many who were ready to pull the trigger are now confused with the drop in the stock market and will most likely wait for it to get it's strength back.

[tophcfa]

Real estate values are always driven by supply and demand. Supply is being added very rapidly, buts that’s nothing new in the Villages. Demand for homes has slowed, increasing inventories. My take on slower demand includes the following:

Inflation - This is a very real and significant problem, cutting significantly into people’s disposal income and willingness to purchase a second home (which represents a significant percentage of Villages homes).

Decrease in home values up north - This makes it much more difficult, and risky, for those looking to flip their northern home into a Villages residence.

Floridas outrageously high property and casualty insurance (both homeowners and auto), property taxes, and the bond that comes with many Villages homes - It’s not just the price of homes that buyers must be able to afford, it’s the total package.

Economic uncertainties - These always exist, but seem unusually elevated these days, with new tariff driven inflation and recession fears and a very volatile (not in a good way) stock market. Not an environment conducive to making a significant investment in a home. I suspect many retirees equity in their investment portfolios have a high correlation to their willingness to purchase property.

Investor owned properties- The demand from this segment has slowed for several reasons, which all make a speculative real estate investment more risky than in prior years.

Hurricane burnout - it’s easy to forget about this factor this time of the year, but come mid October it’s fresh in people’s minds. This also effects the homeowners insurance market, which is a previously mentioned problem.

Reduced demand from those outside the USA - Many of these folks appear to be disenchanted and generally pi$$ed off with the USA these days.

Mortgage rates no longer at rock bottom like they were for many years - I suppose this is a deterrent to the segment of buyers not paying cash for their homes.

Just some random thoughts.

[AMB444]

Historical standards says rates on the low side for now, my crystal ball is mad at me

Haha. Excellent!

[AMB444]

Thank you to all. I just found this thread and this is exactly the info I was looking for.

https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/villages-home-inventory-has-exploded-356426/

[Boomer]

Real estate values are always driven by supply and demand. Supply is being added very rapidly, buts that’s nothing new in the Villages. Demand for homes has slowed, increasing inventories. My take on slower demand includes the following:

Inflation - This is a very real and significant problem, cutting significantly into people’s disposal income and willingness to purchase a second home (which represents a significant percentage of Villages homes).

Decrease in home values up north - This makes it much more difficult, and risky, for those looking to flip their northern home into a Villages residence.

Floridas outrageously high property and casualty insurance (both homeowners and auto), property taxes, and the bond that comes with many Villages homes - It’s not just the price of homes that buyers must be able to afford, it’s the total package.

Economic uncertainties - These always exist, but seem unusually elevated these days, with new tariff driven inflation and recession fears and a very volatile (not in a good way) stock market. Not an environment conducive to making a significant investment in a home. I suspect many retirees equity in their investment portfolios have a high correlation to their willingness to purchase property.

Investor owned properties- The demand from this segment has slowed for several reasons, which all make a speculative real estate investment more risky than in prior years.

Hurricane burnout - it’s easy to forget about this factor this time of the year, but come mid October it’s fresh in people’s minds. This also effects the homeowners insurance market, which is a previously mentioned problem.

Reduced demand from those outside the USA - Many of these folks appear to be disenchanted and generally pi$$ed off with the USA these days.

Mortgage rates no longer at rock bottom like they were for many years - I suppose this is a deterrent to the segment of buyers not paying cash for their homes.

Just some random thoughts.



I would say your "random thoughts" pretty well nailed it.

Boomer

[Normal]

Spare cash may be the real problem soon enough. A Market Crash isn’t welcome by any of us. Most don’t NEED a house in the Villages. Security and safe harbor come first.

[mraines]

Ok, all you smart people of TOTV.

I keep hearing from various sources that the real estate inventory is high right now and many properties are available.

What's your best guess or opinion on why this might be?

Thanks again for your responses!

It's impressive how much knowledge TOTV members have, so I do appreciate you all sharing your thoughts.
Possibly because the developer is building too many homes and many are becoming disappointed with the Villages. Canadians may be selling their homes.

[Kelevision]

I was born in Lake County and was here before TV. IMO, There are several reasons. There are tons of rental properties here and what used to be a very lucrative income has turned into not such a lucrative income. I personally know 2 friends who just recently sold their rentals. They still live here in their other home. Lots of Canadians also own homes here and are selling. And people are leaving Florida in general due to high taxes, among other issues. I’m gonna go out on a limb and say expect more houses to get listed and less people buying in general for a while.

[Nanshe]

Yes!

[G.R.I.T.S.]

In my case regarding my friend’s home, she passed late last year and her relatives have the house on the market. I also know of several more people who have to move because of illnesses. I suspect this is a common reason as we do live in “God’s waiting room.”

[Andyb]

Nailed it.

[kimgarwel12@gmail.com]

We just looked at purchasing a CYV last week. Our current minimal mortgage is at 3%. After talking to the bank, even VA mortgage rates are at 6.5%. Add to that the substantial bonds, realtors fee of 5%, and estimated closing costs of $21k ( on a $350k house?? Seriously??) and even the banker said it was a no brainer, sit tight where you are. I guess our patio villa doesn't look so bad right now!! Too much inventory sitting for more than 6 mos. I've said more than once that it's easy to buy a house in Florida, but a bi$@# to sell one (from personal experience).

[Nana2Teddy]

Real estate values are always driven by supply and demand. Supply is being added very rapidly, buts that’s nothing new in the Villages. Demand for homes has slowed, increasing inventories. My take on slower demand includes the following:

Inflation - This is a very real and significant problem, cutting significantly into people’s disposal income and willingness to purchase a second home (which represents a significant percentage of Villages homes).

Decrease in home values up north - This makes it much more difficult, and risky, for those looking to flip their northern home into a Villages residence.

Floridas outrageously high property and casualty insurance (both homeowners and auto), property taxes, and the bond that comes with many Villages homes - It’s not just the price of homes that buyers must be able to afford, it’s the total package.

Economic uncertainties - These always exist, but seem unusually elevated these days, with new tariff driven inflation and recession fears and a very volatile (not in a good way) stock market. Not an environment conducive to making a significant investment in a home. I suspect many retirees equity in their investment portfolios have a high correlation to their willingness to purchase property.

Investor owned properties- The demand from this segment has slowed for several reasons, which all make a speculative real estate investment more risky than in prior years.

Hurricane burnout - it’s easy to forget about this factor this time of the year, but come mid October it’s fresh in people’s minds. This also effects the homeowners insurance market, which is a previously mentioned problem.

Reduced demand from those outside the USA - Many of these folks appear to be disenchanted and generally pi$$ed off with the USA these days.

Mortgage rates no longer at rock bottom like they were for many years - I suppose this is a deterrent to the segment of buyers not paying cash for their homes.

Just some random thoughts.

Your random thoughts feel very spot on!

[Marine1974]

Ok, all you smart people of TOTV.

I keep hearing from various sources that the real estate inventory is high right now and many properties are available.

What's your best guess or opinion on why this might be?

Thanks again for your responses!

It's impressive how much knowledge TOTV members have, so I do appreciate you all sharing your thoughts.
Currently the interest rates on a $400,000 home requires a $200,000 household income.
70 % of Americans purchasing a home with 20 % down payment do not qualify.

[Dgodin]

I can't believe people thinkk interest rates are high. Doesn't anyone remember when rates were actually high in the double digits?

Inflation is a factor, it's cutting into disposable income. The end of remote work is a factor. People close to retirement bought here. Insurance is a factor. For some it is unobtainable, for others it is expensive. Uncertainty is a factor.

[Bridget Staunton]

Not near as high as we used to pay years ago I remember paying 10% and I was glad to pay, just save a little more

[slg0921]

Real estate values are always driven by supply and demand. Supply is being added very rapidly, buts that’s nothing new in the Villages. Demand for homes has slowed, increasing inventories. My take on slower demand includes the following:

Inflation - This is a very real and significant problem, cutting significantly into people’s disposal income and willingness to purchase a second home (which represents a significant percentage of Villages homes).

Decrease in home values up north - This makes it much more difficult, and risky, for those looking to flip their northern home into a Villages residence.

Floridas outrageously high property and casualty insurance (both homeowners and auto), property taxes, and the bond that comes with many Villages homes - It’s not just the price of homes that buyers must be able to afford, it’s the total package.

Economic uncertainties - These always exist, but seem unusually elevated these days, with new tariff driven inflation and recession fears and a very volatile (not in a good way) stock market. Not an environment conducive to making a significant investment in a home. I suspect many retirees equity in their investment portfolios have a high correlation to their willingness to purchase property.

Investor owned properties- The demand from this segment has slowed for several reasons, which all make a speculative real estate investment more risky than in prior years.

Hurricane burnout - it’s easy to forget about this factor this time of the year, but come mid October it’s fresh in people’s minds. This also effects the homeowners insurance market, which is a previously mentioned problem.

Reduced demand from those outside the USA - Many of these folks appear to be disenchanted and generally pi$$ed off with the USA these days.

Mortgage rates no longer at rock bottom like they were for many years - I suppose this is a deterrent to the segment of buyers not paying cash for their homes.

Just some random thoughts.

Add to this that in the early 2000's, baby boomers were grabbing houses in TV and fueling growth. Now, those baby boomers are getting older and may be having health issues that force them to move back north to be with family who can take care of them.

[jimhoward]

One reason that the number of listings in the Villages is historically high is that the Villages is historically big. There are more homes than ever before so we expect more listings.

Given that many villagers die every year and many more move within the villages every year, the number listings as a percent of total homes does not seem particularly high (even though I dont know what that exact number is).

[tophcfa]

Add to this that in the early 2000's, baby boomers were grabbing houses in TV and fueling growth. Now, those baby boomers are getting older and may be having health issues that force them to move back north to be with family who can take care of them.

Good point, lack of quality health care in and around the Villages is a very real issue. Not only could it cause older retirees with health issues to relocate, but potential new residents might finally be waking up to the problem. Adequate quality health was a real issue here several years ago, and it only keeps getting worse as the rapid growth in housing is suffocating the healthcare system.

[Normal]

Home Insurance premiums are almost double a year later. It amounts to about 1,000 dollars a household. Perhaps 100 dollars extra a month here in The Villages. Not to mention auto rates skyrocketing.

[Tyson]

Its the markets. Anyone who might have been considering retiring to TV is probably thinking twice and those homes being built will sit for along time.

[thelegges]

We just looked at purchasing a CYV last week. Our current minimal mortgage is at 3%. After talking to the bank, even VA mortgage rates are at 6.5%. Add to that the substantial bonds, realtors fee of 5%, and estimated closing costs of $21k ( on a $350k house?? Seriously??) and even the banker said it was a no brainer, sit tight where you are. I guess our patio villa doesn't look so bad right now!! Too much inventory sitting for more than 6 mos. I've said more than once that it's easy to buy a house in Florida, but a bi$@# to sell one (from personal experience).

Money goes a long way in today’s market. So buy now, hold on to current home, rent low to offset costs, then when market has an upturn sell. Under contract a home can be more desirable

[Normal]

Money goes a long way in today’s market. So buy now, hold on to current home, rent low to offset costs, then when market has an upturn sell. Under contract a home can be more desirable

I would rent right now and wait for the home prices to come down further. We are at the end of the big selling season with less than lackluster data. Renting is cheaper now, and it makes you more portable when you do decide to pull the trigger.

[Dakotaboy]

Real estate values are always driven by supply and demand. Supply is being added very rapidly, buts that’s nothing new in the Villages. Demand for homes has slowed, increasing inventories. My take on slower demand includes the following:

Inflation - This is a very real and significant problem, cutting significantly into people’s disposal income and willingness to purchase a second home (which represents a significant percentage of Villages homes).

Decrease in home values up north - This makes it much more difficult, and risky, for those looking to flip their northern home into a Villages residence.

Floridas outrageously high property and casualty insurance (both homeowners and auto), property taxes, and the bond that comes with many Villages homes - It’s not just the price of homes that buyers must be able to afford, it’s the total package.

Economic uncertainties - These always exist, but seem unusually elevated these days, with new tariff driven inflation and recession fears and a very volatile (not in a good way) stock market. Not an environment conducive to making a significant investment in a home. I suspect many retirees equity in their investment portfolios have a high correlation to their willingness to purchase property.

Investor owned properties- The demand from this segment has slowed for several reasons, which all make a speculative real estate investment more risky than in prior years.

Hurricane burnout - it’s easy to forget about this factor this time of the year, but come mid October it’s fresh in people’s minds. This also effects the homeowners insurance market, which is a previously mentioned problem.

Reduced demand from those outside the USA - Many of these folks appear to be disenchanted and generally pi$$ed off with the USA these days.

Mortgage rates no longer at rock bottom like they were for many years - I suppose this is a deterrent to the segment of buyers not paying cash for their homes.

Just some random thoughts.
Excellent Article!!

[thelegges]

I would rent right now and wait for the home prices to come down further. We are at the end of the big selling season with less than lackluster data. Renting is cheaper now, and it makes you more portable when you do decide to pull the trigger.

If there was a home I really wanted in location, and design, I would make an offer now.

Then rent our current home long term unfurnished. 3 years after we sold one of our investment homes. Our average inquiries every year was 20-34.

The rental site has been removed since selling, but I still get 10-15 emails a year inquiring if home is available long term.

[Vernon Hud]

I have heard through the grapevine, that the Villages developer has their people sitting on used property, and only trying to sell new homes.

[Nana2Teddy]

Not near as high as we used to pay years ago I remember paying 10% and I was glad to pay, just save a little more
Our first home purchase in Sept 1979 in SoCal we had a 13% rate on a $50K home with 20% down. Seemed like a fortune at the time because I’d just become a full time mom, so we were down to one income.

[Ruger2506]

Good point, lack of quality health care in and around the Villages is a very real issue. Not only could it cause older retirees with health issues to relocate, but potential new residents might finally be waking up to the problem. Adequate quality health was a real issue here several years ago, and it only keeps getting worse as the rapid growth in housing is suffocating the healthcare system.

My wife and I were talking the other day and she mentioned when we are done with Middleton we may leave FL just to be near quality healthcare.

[Jayhawk]

I have heard through the grapevine, that the Villages developer has their people sitting on used property, and only trying to sell new homes.

Fake news.

[dewilson58]

I have heard through the grapevine, that the Villages developer has their people sitting on used property, and only trying to sell new homes.

:1rotfl::1rotfl::1rotfl:

[Topspinmo]

I have heard through the grapevine, that the Villages developer has their people sitting on used property, and only trying to sell new homes.

Naturally they steer them to new homes cause they are employees of developer who in business selling developed additions that’s where big bucks are not chicken feed on resales.

[vintageogauge]

Spare cash may be the real problem soon enough. A Market Crash isn’t welcome by any of us. Most don’t NEED a house in the Villages. Security and safe harbor come first.

If you are going to worry about a Market Crash you might as well dump your home now and go live in an apartment up north. Most of us don't have enough years left to worry about something that most likely will not happen in our lifetime. Spend it while you got it, life is short.

[margaretmattson]

I moved to the Villages when Spanish Springs was the only town square. When LSL was being built, hundreds of residents sold their present home and bought in the new area. Brownwood begins construction, same thing. Hundreds of residents sold their homes and bought new. Presently, the homes being constructed are very near the new Eastport square. Like clockwork, hundreds of residents have listed their present homes and bought new. Fear of missing out is one reason the inventory has exploded. If you glance at the Villages weekly sales, you will notice buyers from Florida are leading the pack by a large margin. Once the Eastport homes are all sold, I expect the inventory to return to somewhat normal.

[CoachKandSportsguy]

I moved to the Villages when Spanish Springs was the only town square. When LSL was being built, hundreds of residents sold their present home and bought in the new area. Brownwood begins construction, same thing. Hundreds of residents sold their homes and bought new. Presently, the homes being constructed are very near the new Eastport square. Like clockwork, hundreds of residents have listed their present homes and bought new. Fear of missing out is one reason the inventory has exploded. If you glance at the Villages weekly sales, you will notice buyers from Florida are leading the pack by a large margin. Once the Eastport homes are all sold, I expect the inventory to return to somewhat normal.

mafs: lots of small percentages added together * an ever going number of total houses.

yes, there are people who move throughout the villages as the developed areas are more attractive to most retirees than new houses where the services are yet to be fully developed. Publix in Marsh Bend is overloaded with customers because there is a huge grocery store gap between Marsh Bend and the houses south being built and sold. New Houses cost less than developed areas, and there is a small percentage of people selling houses to cash in on the free capital gains, and rebuying in a newly developed area. . after two times, the newest house might be free (equal to all the tax free capital gains from the prior two houses)

there is a relatively constant percentage of estate sales from deceased villages, and a constant percentage of leaving the Villages for family in other places. The percentages probably bounce around abit around a mean value. . add those percentages up, and multiply by the ever bigger number of houses, and the number of houses for sale will always be increasing in the ever expanding The Villages

[BillyGrown]

Not near as high as we used to pay years ago I remember paying 10% and I was glad to pay, just save a little more

True, but then we weren’t financing anywhere between a quarter million and three quarter million at 10% interest for a starter home.

[vintageogauge]

Naturally they steer them to new homes cause they are employees of developer who in business selling developed additions that’s where big bucks are not chicken feed on resales.'

Fact, when we bought our home our agent, Beth Pope, took us to all of the re-sales we asked plus some that we didn't know were available, all of them had something that we didn't want so she asked if we would like to look at some new homes and we did so the next day, the 3rd home she showed us was exactly what we wanted and we bought it with no regrets. Theory, also the developer likes to see re-sales sold so that the sellers can then afford to buy another new home which many of them do. Your reply is all theory and no facts.

[BillyGrown]

There are a lot of homes for sale particularly right here in the villages. Take your time and do your homework if you want to move here. Believe me, there is no rush. Houses are for sale everywhere. We love it here and I’m sure the very high inventory of used and new homes is caused by several reasons. If you want a preowned home, you are in the drivers seat.

[CoachKandSportsguy]

'
Your reply is all theory and no facts.

There is alot of this going around lately, like a bad pandemic

[Papa_lecki]

I have heard through the grapevine, that the Villages developer has their people sitting on used property, and only trying to sell new homes.

Except for the people in pre owned homes who want to buy a brand new home from the developer.

[DrMack]

Except for the people in pre owned homes who want to buy a brand new home from the developer.

They all seem to think they can scaffold upward through the overpriced sale of their pre owned homes. Many have come to the rude awakening that it isn’t that market here anymore. There are in fact more than enough homes to go around.

[DrMack]

If you are going to worry about a Market Crash you might as well dump your home now and go live in an apartment up north. Most of us don't have enough years left to worry about something that most likely will not happen in our lifetime. Spend it while you got it, life is short.

Or rent in Ft Lauderdale, along the beach and wait for the bottom of the market? Punta Gorda and Naples have some nice places for about the same prices as the villages does.

[Normal]

Or rent in Ft Lauderdale, along the beach and wait for the bottom of the market? Punta Gorda and Naples have some nice places for about the same prices as the villages does.

We like Sanibel Island. Ft Myers is also more than reasonable for rentals and they are on the beach. You get the best of both worlds because you don’t incur much risk as a renter. The landlord is the one that pays up if there is a hurricane.

[asianthree]

I have heard through the grapevine, that the Villages developer has their people sitting on used property, and only trying to sell new homes.

I am always in wonder WHO allows any Agent either MLS or VLS tell them where or what home to buy. Is it because New is cheaper than preowned, or less maintenance, or just shiny?

If one can be steered by any Agent to buy a new home instead of a preowned, than you might need outside input.

Maybe a clear headed family member could be involved making important decisions.

[Normal]

Meanwhile 35% of the homes for sale stay on the market at least 90 days or more.

[Byte1]

Florida is no longer the place to retire. There are other states higher on the list of places to retire. Florida has just about the highest property insurance rates in the country. There are more retirees moving out of Florida than into Florida now. Some "experts" say that prices in the Villages were artificially inflated (during COVID?) and now they are dropping. One Villages real estate sales person told me that this is the worst it's been in over 30 years they have been working here. The inventory of homes for sale is at an all time high. If you want to see what is really happening, don't count on the list prices showing on the Net, check the prices they finally sold for. You can get a listing on the Internet. This is a buyers market....for cash deals. Many out of state buyers have never heard of a Bond before and don't realize the the price is actually $30k-50K higher than the list price. Some say that the prices will never recover completely to what they were a year ago. Then again, we have seen the price of eggs start to come down, as well as the price of gasoline. Miracles do happen.

[Aces4]

'

Fact, when we bought our home our agent, Beth Pope, took us to all of the re-sales we asked plus some that we didn't know were available, all of them had something that we didn't want so she asked if we would like to look at some new homes and we did so the next day, the 3rd home she showed us was exactly what we wanted and we bought it with no regrets. Theory, also the developer likes to see re-sales sold so that the sellers can then afford to buy another new home which many of them do. Your reply is all theory and no facts.

Did it ever occur to you that you were steered toward undesirable presales given your wants and needs so that you happily jumped at the new build that she found which was just right for Red Riding Hood.:shocked: It is a possibility...

[Pugchief]

There is a lot of this going around lately

Lately?

[CoachKandSportsguy]

Lately?

:BigApplause::mademyday:

[BillyGrown]

Did it ever occur to you that you were steered toward undesirable presales given your wants and needs so that you happily jumped at the new build that she found which was just right for Red Riding Hood.:shocked: It is a possibility...

Currently there are over 2000 homes for sale MLS and VLS pre owned and new in the Villages. Bottom line is the bottom line.

[asianthree]

'

Fact, when we bought our home our agent, Beth Pope, took us to all of the re-sales we asked plus some that we didn't know were available, all of them had something that we didn't want so she asked if we would like to look at some new homes and we did so the next day, the 3rd home she showed us was exactly what we wanted and we bought it with no regrets. Theory, also the developer likes to see re-sales sold so that the sellers can then afford to buy another new home which many of them do. Your reply is all theory and no facts.

Did it ever occur to you that you were steered toward undesirable presales given your wants and needs so that you happily jumped at the new build that she found which was just right for Red Riding Hood.:shocked: It is a possibility...

So do you think Beth sent subliminal messages as to which houses Vintage requested to view, then, offered more houses recently available to tour, that was spelled to make them look undesirable.
Under Beth’s spell, used Red Riding Fairy Tale hypnosis, to buy a new house. Not because preowned didn’t work for Vintage, but under Beth’s spell they couldn’t choose to say NO even if the New house didn’t check off any boxes.

I really need to give more credit to the inter workings of VLS Spells, Potions, and Acquisitions department.
Maybe sell to the general public to convince problem neighbors to sell and move Far Far Away.:MOJE_whot:

[Marathon Man]

I have heard through the grapevine, that the Villages developer has their people sitting on used property, and only trying to sell new homes.

Completely believable. The Developer has convinced many homeowners that they are going to delay completing sales of their homes because sales of new homes are not as fast as wanted.

[Marathon Man]

Did it ever occur to you that you were steered toward undesirable presales given your wants and needs so that you happily jumped at the new build that she found which was just right for Red Riding Hood.:shocked: It is a possibility...

Wow. How to call someone gullible without calling them gullible. I tell ya, some people...

[asianthree]

Wow. How to call someone gullible without calling them gullible. I tell ya, some people...

I thought my post #58 was creative way to say the same thing

[Aces4]

So do you think Beth sent subliminal messages as to which houses Vintage requested to view, then, offered more houses recently available to tour, that was spelled to make them look undesirable.
Under Beth’s spell, used Red Riding Fairy Tale hypnosis, to buy a new house. Not because preowned didn’t work for Vintage, but under Beth’s spell they couldn’t choose to say NO even if the New house didn’t check off any boxes.

I really need to give more credit to the inter workings of VLS Spells, Potions, and Acquisitions department.
Maybe sell to the general public to convince problem neighbors to sell and move Far Far Away.:MOJE_whot:

Sounds like you're into all that cr*p, I'm not.

Maybe the buyer wants a golf cart garage but somehow the realtor can produce a lovely used home but no, that golf cart is not included. Next home has a golf cart garage, beautiful but not the pool that was on the check list and so on. I hope no one is so naïve to think that could never happen but perhaps their brains can't think that through.

[vintageogauge]

So do you think Beth sent subliminal messages as to which houses Vintage requested to view, then, offered more houses recently available to tour, that was spelled to make them look undesirable.
Under Beth’s spell, used Red Riding Fairy Tale hypnosis, to buy a new house. Not because preowned didn’t work for Vintage, but under Beth’s spell they couldn’t choose to say NO even if the New house didn’t check off any boxes.

I really need to give more credit to the inter workings of VLS Spells, Potions, and Acquisitions department.
Maybe sell to the general public to convince problem neighbors to sell and move Far Far Away.:MOJE_whot:

As noted in my original reply Beth showed us the homes we asked to see, homes that we found doing our own research, none of them were right for us so she showed us a few newly listed pre-owned units that we did not know about, again not to our liking. Finally found exactly what we wanted in a new home. We were not steered there but glad we agreed to look at new builds. At the time there were very few new homes available for sale.

[Normal]

As for the OP on the causes for the inventory glut with homes here in the Villages:

Interest rates affect the market even if the Villages buyers themselves intend to pay cash (less than 50% do). The prospective buyer often may be a retiree and need to sell their home up north. The markets nationwide are unaffordable for most of our youth tying up a retirees hands and their money.

Reoccurring costs like insurance, bond and taxes are on the high side. A buyer will see a new home for 429,000 only to find the actual cost with the bond (around 50k) is 479,000. Not such a deal after all.

The egress of retirees and some still working from Florida (Not just Canadian Nationals and workers required to return to work)is increasing.

Just a few fun facts about the Villages

[asianthree]

Sounds like you're into all that cr*p, I'm not.

Maybe the buyer wants a golf cart garage but somehow the realtor can produce a lovely used home but no, that golf cart is not included. Next home has a golf cart garage, beautiful but not the pool that was on the check list and so on. I hope no one is so naïve to think that could never happen but perhaps their brains can't think that through.

Just expounding on your Red Riding Hood fun. We are on Fifth house in TV. More than 15 years we have looked at over 200 preowned, with 7 different MLS agencies, and 8 different VLS. There will rarely be the house that ticks every box as a Spec or preowned.

Even build new getting a view lot difficult the agent has zero power to change what lot you win. You may get close to perfect, but there will always be a little something that doesn’t work out. In all the years and hundreds of people, I have never met someone who’s agent convinced them to_______, and didn’t realize until it was too late.
Or maybe their brains still don’t register as you pointed out, they are still naïve of end results.

Then again you must remember the free for all of 2007 “No more houses will be built” comes close to the hundreds who bought whatever house was available, before they were left without. Then the downfall around 2008.

Our VLS agent had no idea if the rumors were true. We didn’t buy into the developer frenzy. Saved us $31,000 for the exact same house 2 years later.