[graciegirl]

Originally Posted by manaboutown

Yes! It is basic economics: supply vs. demand

The Villages development company has recently obtained enough land to build thousands more homes which of course will inexhaustibly increase the supply of new homes for years and years to come. The Villages builds houses faster than any other developer of senior housing of which I am aware. They can build them as fast as they can sell them. These new homes will compete with existing homes for buyers, many of whom prefer new homes so they can do it "their way".

Hot markets primarily exist where there are constraints on further development such as available land, high construction costs, limited utility resources, difficult building restrictions, hard to obtain permits, a hot job market, or a highly desirable school district. Coastal view lots in California, Silicon Valley, remote yet desirable resort areas and densely populated cities like NYC and San Fran come to mind.

I think if a home is presented WELL and priced FAIRLY, it's owner will have no difficultly selling it for considerably more than he/she paid for it here in The Villages. I watch the market here just out of interest. There are approximately ten thousand baby boomers retiring every day and that will continue for thirteen years. Florida is much sought after. San Francisco and Manhattan are expensive unless you have a high paying job. The Villages is attractive and affordable to an increasingly large segment of the population.

[manaboutown]

Originally Posted by graciegirl

I think if a home is presented WELL and priced FAIRLY, it's owner will have no difficultly selling it for considerably more than he/she paid for it here in The Villages. I watch the market here just out of interest. There are approximately ten thousand baby boomers retiring every day and that will continue for thirteen years. Florida is much sought after. San Francisco and Manhattan are expensive unless you have a high paying job. The Villages is attractive and affordable to an increasingly large segment of the population.

I agree that the baby boomer population bulge presents a once in a lifetime prime time sales opportunity for senior community developers in FL, AZ, TX and elsewhere. As you do, I believe The Villages, the most popular retirement community in terms of past growth rate and size ever, is the best choice for many retirees for any number of reasons such as affordable housing in a very attractive expertly planned development in a state without income tax, a plethora of wonderful amenities at reasonable cost, located on high ground, so to speak, well inland and away from the hurricane prone coastal areas. Shopping and medical facilities are convenient and so on. I also agree that a well maintained and nicely presented freshened up home in TV will sell under normal economic conditions. However I do not expect to see great appreciation in home prices in TV in the near future as it is not built out by any means. Plenty of land is in inventory and obviously much more is available in the surrounding rural area. The developer wants to build and sell new homes as fast as feasible. Bottom line: Sellers of existing homes are in competition with the developer.