Twice as many pre-owned sold

[Larry Wilson]

After hearing this five times from people who work for the Villages, I thought I would share.
This past month, twice as many pre-owned homes sold than new homes. I imagine this is because of the bond and in some cases location.
I repeat that this was told to me by people working in the sales office.

[njbchbum]

makes sense to me since many times one can find homes that have already added on the upgrades that buyers would be looking for and because such a home is virtually move-in ready and the buyer does not have to wait for a new build!

[villagegolfer]

After hearing this five times from people who work for the Villages, I thought I would share.
This past month, twice as many pre-owned homes sold than new homes. I imagine this is because of the bond and in some cases location.
I repeat that this was told to me by people working in the sales office.

Our original plan was to purchase a pre-owned home but the sale of our home up north fell through in June and we had to spend our time in an empty house all summer and didn't pass papers until October. It completely wore us out so we took the easy route and bought a new courtyard villa. No regrets and love our new neighborhood and friends.

[buggyone]

The bond is defintely one big difference between a new home and a re-sale home. I purchased my Designer Lantana home 2 years ago and only had a $2,300 bond as compared to at least $20,000 for a new Designer home. The Premier homes on 466 (Bridgeport at Laurel Valley) have a bond of $50,000.

[2BNTV]

Makes sense to me also as the number of pre-owned homes that are available must be much greater than the number of new homes being built. I would imagine no or little bond, location, upgrades, landscaping and move-in ready are attractive options for some people.

[Ohiogirl]

After hearing this five times from people who work for the Villages, I thought I would share.
This past month, twice as many pre-owned homes sold than new homes. I imagine this is because of the bond and in some cases location.
I repeat that this was told to me by people working in the sales office.

Wow - I've been following sales data in TV since we bought in 2006 - usually from afar - just casually, no spread sheets or anything, but I believe this is the first time I know about when resales topped new home sales - and usually it was by a margin of about 4-1 or 3-1.

Maybe until Brownwood is up and going it will be like this? I just found this kind of surprising.

[eweissenbach]

Wow - I've been following sales data in TV since we bought in 2006 - usually from afar - just casually, no spread sheets or anything, but I believe this is the first time I know about when resales topped new home sales - and usually it was by a margin of about 4-1 or 3-1.

Maybe until Brownwood is up and going it will be like this? I just found this kind of surprising.

I don't find it at all surprising, for all the reasons previously mentioned, plus the fact that many pre-owned homes are for sale for less than the owners paid for them, not to mention much less than new + bond. I know of one home for sale at 215K that was purchased four years ago for 267K.

[cybermuda]

Looking at homes in your neighborhood on zillow.com can be quite an eye-opener

shows all sales prices, so if your neighbor has sold recently you can compare what they got with what they paid

lots of big "losses" these past few years

[Ohiogirl]

I am still surprised at this stat, if it is true. Don't know if this has been a gradual thing or not, but every time I've asked in the past 4 years, there have always been way more new home sales than resales.

You can say all you want about resale being a better deal, lower or no bond, upgrades, etc., but many many people will still only buy new, especially if they view this retirement home as their last purchase.

Just had never heard this before. I wonder if new home sales are slowing that much or if sales in general are just picking way up? Does anyone know the actual numbers? Plus you have to add in the MLS resales.

[Larry Wilson]

Ohiogirl,
Since I heard it from so many sources that work for The Villaages, I think it is true.
Why don't you call The Sales office and see what they say- if you doubt it.
I really don't care.

[FMF Doc]

After hearing this five times from people who work for the Villages, I thought I would share.
This past month, twice as many pre-owned homes sold than new homes. I imagine this is because of the bond and in some cases location.
I repeat that this was told to me by people working in the sales office.

Be interesting to see if this is a continuing trend. Properties of The Villages ad in the Daily Sun this morning reads 2,212 new homes sold and 1.336 pre owned homes sold in the past 12 months.

George

[Larry Wilson]

I think last month was rare so that's why people are talking about it. I also think they are still selling a great deal of new homes. It will be interesting to see if that trend continues. I don't think they count any resales except from their realtors. There are quite a few through MLS and by owners etc.

[Barefoot]

I don't find it at all surprising, for all the reasons previously mentioned, plus the fact that many pre-owned homes are for sale for less than the owners paid for them, not to mention much less than new + bond. I know of one home for sale at 215K that was purchased four years ago for 267K.

Also, a lot of pre-owned homes come with golf carts, lush landscaping, solar tubes, furniture, birdcages, pools, summer kitchens, and lots of other goodies. And the biggest plus is that you can live in a central area.

I know some people prefer a new home and I totally get that. New homes are pristine and untouched and I think that appeals to us all. I just think that financially, you get a much better deal with a pre-owned home.

[EXYZEE40]

As stated previously there are many very nice pre-owned homes on the market today. My thought would be that because of the current economic conditions some people may be selling either because of their own financial concerns or they may be trying to help their children/family. Also health issues may force people to want to be closer to family. I know of a couple who have been here for about ten years. They are going to rent their home for the season and go north to help a family member temporarily.

There are many beautiful already developed areas and sometimes when someone is considering buying, a little imagination and willingness to take the time to 'remodel' would produce a very nice home.

[DENNIS G]

Don't forget to add the IMPACT fees on top of your purchase of a new home. Approximately $3k depending on county. Re-sales don't have them as they have been paid previously. We have been here 8 yrs and 5 yrs ago we bought a new home in Sumter County the impact fee was nearly $3500. The bond was $23000.

[graciegirl]

[QUOTE=Larry Wilson;396712]Ohiogirl,
Since I heard it from so many sources that work for The Villaages, I think it is true.
Why don't you call The Sales office and see what they say- if you doubt it.
I really don't care.[/QUOTE

I think they are selling more new homes.

We are closing tomorrow. So I will ask one of the people who will know at the sales office.

Hawkwind was always the one on here who really crunched numbers and also l2rdhd. They always knew how many.

It doesn't matter a tiny bit whether people buy new or used. A dream is still a dream come true.

[2BNTV]

[Gracie]
It doesn't matter a tiny bit whether people buy new or used. A dream is still a dream come true.[/QUOTE]


AMEN!!!!!

[Pturner]

Larry, thanks for the info!

I wonder if the new vs. resale home sales quoted by the sales office only applies to the resales sold by The Villages. It might be just the first time that The Villages Sales Office sold more resales than new.

GG, when you ask tomorrow, would you see if they can clarify this?

It makes sense though that resales will eventually sell more, if they don't already, when you add sales by The Villages Sales Office, MLS and by owner. First, for all the reasons already stated. Second, because the bigger TV gets, the larger inventory of resales there will be.

[rubicon]

The issues that may draw people to pre-owned homes are:

Bond is paid off

Location of the pre-owned home

Pre-owned home has added features, plantation shutters, etc

Pre-owned home flaws either never there or have been corrected

[Larry Wilson]

My first post was quoting 3 people who work in the sales office, a realtor and a neighbor who works at an Regional Rec center.
A person who is looking at new homes this PM was told they sold more new homes! LOL. More than once in here, I have seen it is hard to get a straight answer. Nothing is transparent.

I bet that realtor didn't count MSL or for sale by owners. I can't understand
why the others would lie.

Guess like I said before, I really don't care. If I was buying I sure would buy used for all the reasons listed on this thread.

[ssmith]

sometimes the seller thinks they should get the price they desire + the price they paid for upgrades or paying off the bond thus raising the price of the resale....just saying....

[Larry Wilson]

SSmith,
Agree. Those are the ones who stay on the market for a long time until they accept a reasonable offer for the market.

[Doodlegirl]

The market outside of The Villages is pretty terrible, fairly difficult to get a mortgage now, many people cannot sell their homes which have been on the market for some period of time.

To make the move here they would be relying on the sale of their home, thus, once a contract appears, there is a somewhat foreshortened period to
get into the house they want...or rent until their new home is ready. Renting
is a difficult concpet for many of us who have owned our homes for a long time.

I had an offer on my home in South FL one week after I put it on the market
in May of this year. The folks buying wanted in withing 45 days. Since I lived in an area with many foreclosures and short sales, apparently my 'clean' and quick house made it easy for the purchasers.

I understood driving to TV that a new built would be out of the question in terms of timing. I needed a place for the doglets too. Wanted no bond or the lowest bond I could find. I bought virtually overnight once here, primarily knowing it would have to be an empty and ready to move into home to balance with the sale period of my buyers, OR, lose the opportunity. I was aware of my budget, knew it would have to be a cyv, and happened on a sort of distress sale in Duval once here and working with my realtor.

Selling in a bad RE market in FL or Oshkosh, and purchasing in the same market...regardless of TV's reputation, I was selling and buying money, watching and risking my future and last home. Really difficult today for so many people (look at all of our wannabees posting here and waiting for their homes to sell). I suspect that a pre-owned in this particular market for many of us on a fixed income will be the norm for awhile more. When there is a buyer on the hook a decision must be made.

Since arriving on the 8th of July I do sense I am in a bubble, and glad to be
snuggly inside, however, the outside world of real estate in the US is a struggle, a real struggle for the majority of sellers. I imagine alot of preowned homes here, for whom sellers are waiting for a sale,are basically in the same shoe. I feel fortunate beyond my expectation to have found exactly what I wanted at the moment I needed it. A new home, to be built, would not have worked for me at all. Tho, I am saddened that the seller of this cyv took a real loss in this market.

While I have made substantial change for my taste and budget, I pretty much got all the bells and whistles of a new home. In many cases, like mine, it is the national market dictating the sales of so many pre-owned homes, the banks, the life savings of those moving to TV. Ultimately, we are all lucky enought to share the amenities and the lifestyle. Maybe that is partly the key, too.

[Posh 08]

And doing all that on just a contract is a real crap shoot. Many contracts are falling apart these days because homes are not appraising right, mortgage difficulties etc.

[graciegirl]

Be interesting to see if this is a continuing trend. Properties of The Villages ad in the Daily Sun this morning reads 2,212 new homes sold and 1.336 pre owned homes sold in the past 12 months.

George

Seems right to me. Our village, Laurel Valley wasn't offered for sale until the first of April and all but one lot is sold now. During the past year the Villages of Hemingway and Bonita have been sold out and Pennecamp, Buttonwood, Tamarind Grove, St. Charles and St James and now Sanibel are filling up. Seems like I forgot a couple.

The new Premier village of MacClenny is selling lots now too. I am sure that there are many, many, many resales as well...maybe more, maybe less, but one thing I know; this place, The Villages is not marking time.

We looked at resales when we were looking at our second and year 'round home here and resales were about the same price as new. ON MOST we looked at, the bond was paid down a little but far from paid off.There were many that had the painted driveways, the pull down stairs, the added palm trees, and a lot of other stuff that wasn't my taste at all, like out of date cabinet colors and wall paper and tile with lots of designs and because I am picky, I don't like having to buy a house and change things when I can buy a house and have the cabinets and drawer pulls, flooring, outside color and all other choices the way I like. Yes I said I. I get to pick those things. We will add shelving and a pull out ironing board and fix up our closets and plant extra stuff ourselves. Sweetie likes to do all that.

I don't understand why buying new or resale is an issue at all. All that matters is that every person looking to find a home here finds one to his and her liking. It is a very personal choice and not an ethical one at all.

[LivingLarge]

I think it is just math.

As TV ages the number of new homes that then become 'resale' homes will increase. i.e. If the resale % is let's say 2% then 2% of 40,000 homes is higher than 2% of 20,000 homes.

It is inevitable that resales will surpass new at some point. Maybe that point is now.

[Pturner]

Seems right to me. Our village, Laurel Valley wasn't offered for sale until the first of April and all but one lot is sold now. During the past year the Villages of Hemingway and Bonita have been sold out and Pennecamp, Buttonwood, Tamarind Grove, St. Charles and St James and now Sanibel are filling up. Seems like I forgot a couple.

The new Premier village of MacClenny is selling lots now too. I am sure that there are many, many, many resales as well...maybe more, maybe less, but one thing I know; this place, The Villages is not marking time.

We looked at resales when we were looking at our second and year 'round home here and resales were about the same price as new. ON MOST we looked at, the bond was paid down a little but far from paid off.There were many that had the painted driveways, the pull down stairs, the added palm trees, and I lot of other stuff that wasn't my taste at all, like out of date cabinet colors and wall paper and tile with lots of designs and because I am picky, I don't like having to buy a house and change things when I can buy a house and have the cabinets and drawer pulls, flooring, outside color and all other choices the way I like. Yes I said I. I get to pick those things. We will add shelving and a pull out ironing board and fix up our closets and plant extra stuff ourselves. Sweetie likes to do all that.

I don't understand why buying new or resale is an issue at all. All that matters is that every person looking to find a home here finds one to his and her liking. It is a very personal choice and not an ethical one at all.

Hi GG,
Wow your forever home is just a day away!

I had not read any of the previous posts to suggest an ethical issue and surely do hope that my post didn't come across that way.

You are right that there is no right our wrong, or moral choice here. When I saw your new home, I knew it was perfect for you. New or resale, I wish that for all of us.

[graciegirl]

Hi GG,
Wow your forever home is just a day away!

I had not read any of the previous posts to suggest an ethical issue and surely do hope that my post didn't come across that way.

You are right that there is no right our wrong, or moral choice here. When I saw your new home, I knew it was perfect for you. New or resale, I wish that for all of us.

Oh P. Thank you. I can't find the right words sometimes. Ethical wasn't what I meant. I just want everyone to savor the happiness I am feeling about being here year 'round with interesting people who like to talk about stuff like this. It is the PEOPLE that make this place wonderful, not the homes.

I think I meant, that it isn't a right or wrong thing. It is a wonderful, fun, exciting choice.

Pooh was mentioning you kindly today.

Only in The Villages have I ever had friends named P and Pooh. What more can you ask?

Mea Culpa....I am sorry for this hijack.

[Pturner]

Only in The Villages have I ever had friends named P and Pooh.

Mea Culpa....I am sorry for this hijack.

Eeek, at the risk of fair criticism about the hijack and unfair criticism about ... I just have to say that if Fumar were not alive, he would turn over in his grave.

[festusrules]

I believe there are many more "used" available than "new" so it makes sense that there are more sales. At the time we bought our new Patio Villa last Dec. the used were selling for about the same $ as the new so we opted for the new...preferring a new neighborhood and neighbors more in our age bracket.

Looking forward to migrating for our 2nd winter in TV, with furniture and all the comforts waiting for us. Life is GOOD, even better when in TV !

[eweissenbach]

I don't understand why buying new or resale is an issue at all. All that matters is that every person looking to find a home here finds one to his and her liking. It is a very personal choice and not an ethical one at all.

I don't think it is an issue with anyone Gracie. I think it is a matter of personal preference and there is no right or wrong direction. I think it depends on how flexible one is and what style house they are looking for, whether there are good deals on pre-owned. Clearly the type of house we are leaning toward, an Amarillo, can be purchased cheaper with many upgrades used vs. new, but another important issue for us is a central location, which dictates pre-owned. Each person has to decide what is important to them, there is no wrong or bad choice.

[Double Bogie]

Isn't it wonderful that there are so many options available for home choice? I believe it to be a personal preference. Case in point, when we purchased we knew that our home would be used only part time. We first stayed in five different rentals, different locations, always choosing a different style of home. We then felt that location was our number one decision, followed by home style. Being part time we thought a villa would be the easiest to maintain. On our last rental visit we narrowed down the location, which for us was in an established area where homes were 5-6 years old. One day while driving around we found a ranch that fit everything we wanted and also the bond was paid. Once inside it appeared that no one had ever lived there. It was a clean slate, a few upgrades, landscaping established. We bought our sweet ranch last October and have never regretted the decision. Again, a personal preference.
Nan

[The Villager II]

We vacationed here for 6 years before buying so we had the advantage of buying what we wanted after experiencing all the villages has to offer. When we first came, we were sure we wanted to live as close as possible to the SS town Square. We wanted a home that backed to a road to watch all the folks go by everyday. We bought on the end of a loop 3 miles from the nearest town square. We wanted no more than 1400 square feet with 2 bed and two bath. We bought a 3 bed designer with 1900 Square Feet. We definitely wanted pre owned so we could have a lived in look with large trees. We bought new where the biggest tree is the palms we have put on the property. So if I could say anything to help it would be to rent and play for awhile to see what you REALLY want. We went to the square every night while visiting, now I am too busy to go to the square more than once or twice a month.

[Jim Straz]

The bond is defintely one big difference between a new home and a re-sale home. I purchased my Designer Lantana home 2 years ago and only had a $2,300 bond as compared to at least $20,000 for a new Designer home. The Premier homes on 466 (Bridgeport at Laurel Valley) have a bond of $50,000.
First let me say I mean no disrespect to your post and the reason for mine is so that new folks fully understand what "The Bond" means as far as basic math knowledge is concerned.

The cost of the bond on a new cottage home on Tamarind Grove Run is $21,677.03. It is prorated over 29 years at an annual cost of $1,708.22,that monthly equals $142.35. When I make my personal choice of a paying a bond or not, I take into account whether I'm going to live for the next 29 years. The $142.35 is only about $10 more than my recreation fee so to think that might dictate what neighborhood I was to live in, or whether I was to buy a new or used home is beyond my comprehension level.

Your purchase in The Villages is not just for a home, but for a life style. That life style is not the most economical available in the area, so there are other personal choices in Florida that are cheaper. I just don't want new people to think that "The Bond" is something that's bad or not affordable as it is an everyday thing like the roads and tunnels etc, we use all the time. Different strokes for different folks!

[eweissenbach]

[QUOTE=Jim Straz; I just don't want new people to think that "The Bond" is something that's bad or not affordable as it is an everyday thing like the roads and tunnels etc, we use all the time. Different strokes for different folks![/QUOTE]

I agree that the bond is not inherently bad, but is simply a way to pass along the pro rata costs of infrastructure to the buyer. Had the developer instead borrowed the money from banks for the improvements, that would have been passed along in higher prices, rather than a bond payment. You are also correct to say that the bond in and of itself should not determine whether one buys new or used. The bond is just one consideration that one should weigh in buying a Villages home, and not the overriding one. A cottage home for sale for $200,000 with a $20,000 bond is, in essence, a $220,000 home. When I purchase a home in TV it will likely be a pre-owned home with a low bond, as I plan to live close to 466.

[hedoman]

Makes sense to me also as the number of pre-owned homes that are available must be much greater than the number of new homes being built. I would imagine no or little bond, location, upgrades, landscaping and move-in ready are attractive options for some people.

I tnink they mostly build homes after they are ordered which may fluctuate. There is much inventory of pre-owned. We purchased a premier pre-owned at a really good bargain. I liked tha idea that the house was "owner tested" and all bugs worked out

[Barefoot]

There are many Villages homes listed under pre-owned, and advertised as "never lived in" or "barely lived in". Many of the houses are in brand new Villages. Some are furnished and even have golf carts. I know illness can certainly play a role at our stage in life. But it makes you wonder what the back stories are.