[Michael 61]

Originally Posted by Robojo

Its because of the PE landlord the normie can't afford to buy. Prices will come down everywhere and whether or not they do in TV depends on resalability.

Most of these homes won't last more that a decade without major repair.

Sounds ominous- what specific types of “major repairs” are you predicting for most new homes in TV within the next decade?

[gighilton]

Originally Posted by MrChip72

I'm very familiar with that area. My parents bought their vacation home around there over 40 years ago. I've spend around a month a year for almost 40 years there. I even own some land around there that I bought in 2007.

It's extremely saturated with speculative investors. You can check the property records for any given street and often the majority will be owned by foreigners in South America or Asia, or some corporation. It's been like this for 20+ years.

I don't think there's any valid comparison there to The Villages area that proves anything. The area was oversold and now many people are in unloading mode. Just look at Zillow for that area and you'll see thousands of homes and lots for sale with many on the market for over 200 days.

You can't believe half of what is on Zillow. They have no valid verification processes. Also, there is demand for more secluded locations, not everyone wants to be near all the traffic. As long as people retire, TV is and will be just fine.

[frayedends]

Originally Posted by coconutmama

Me too. I don’t see a closing date.

And the price I see on the flyer is the listing price not the actual price it sold for.

They can't close until August as they haven't owned it a year yet.

The house was listed for 1.2 million up until it went pending as far as I can tell. I watched it daily.

[frayedends]

Originally Posted by Robojo

So one dumb buyer saves your home value??? Not...

You figure it's just a dumb buyer. No one told them they are paying 40% too high? I'm personally not worried about it. My home in Lake Denham is worth 6 million. Or 200K or 800K. IDK because it's my plan to live in it, not sell it. Could that change, of course.

But if I do decide to sell I think I'll do okay. At the very least this sale gives a comp for realtors. I'm assuming it's a cash sale because I don't see it appraising for 980.

[Rainger99]

Originally Posted by frayedends

Rainger noted it’s on the flyer that you can click if you search the home using the app. I didn’t find the flyer on the website. I am curious why that would be shown. I don’t think it’s usual to show a price while under contract. Reason being it gives potential new buyers some leverage if the current deal falls apart. We can’t be sure until it actually closes. But if it was listed at 1.2 then 980 is reasonable.

I don’t know if that $980,000 is the original asking price or the pending price. Someone said it was listed at $1.2 million. But there is no way to check on that unless you look in the newspapers.

[KAM+6]

Originally Posted by MrChip72

I'm very familiar with that area. My parents bought their vacation home around there over 40 years ago. I've spend around a month a year for almost 40 years there. I even own some land around there that I bought in 2007.

It's extremely saturated with speculative investors. You can check the property records for any given street and often the majority will be owned by foreigners in South America or Asia, or some corporation. It's been like this for 20+ years.

I don't think there's any valid comparison there to The Villages area that proves anything. The area was oversold and now many people are in unloading mode. Just look at Zillow for that area and you'll see thousands of homes and lots for sale with many on the market for over 200 days.

I think they are talking about the Village of Lake Denham near 470.

[frayedends]

Originally Posted by Rainger99

I don’t know if that $980,000 is the original asking price or the pending price. Someone said it was listed at $1.2 million. But there is no way to check on that unless you look in the newspapers.

It was listed at 1.2. That I am sure of. But it is strange to see a price in a pending flyer. Perhaps they lowered to 980 before accepting an offer and that was the last listing price. Won't know for sure until August after it closes. But even if they took 900 they made a hefty profit in 1 year.

[maistocars]

Originally Posted by Rainger99

Pending says $980,000. Closing in August.

Hmmm, they bought in 7/23 for $674.2k - nice profit.

[frayedends]

Originally Posted by maistocars

Hmmm, they bought in 7/23 for $674.2k - nice profit.

It sure is. Of course they could have an accepted offer at 900. We don't know for sure yet. Still doesn't seem like the sky falling.

I think key to this house (and my house) is the preserve view. Down in Eastport area they have water views and golf courses, but not much in the way of preserve view privacy yet. Certainly there is a huge difference in the Lake Denham interior lots that still have a few discounted and sitting. But private lots are all gone (well there are a couple resales still on the market that I think are overpriced).

[Randall55]

Originally Posted by maistocars

Hmmm, they bought in 7/23 for $674.2k - nice profit.

Does the 674.2k original cost include the price paid for the lot? I think some information is missing.

The price I was given to build in the Enclave was a little over $1 million, including pool and lot. I can understand why the buyer would not pay full 1.2 million asking price. The home does not have a pool.

I am having a hard time believing the seller of the home paid $674.2k. The home is in the same area as the Enclave and was built a few months before construction started in the Enclave.

[frayedends]

Originally Posted by Randall55

Does the 674.2k original cost include the price paid for the lot? I think some information is missing.

The price I was given to build in the Enclave was a little over $1 million, including pool and lot. I can understand why the buyer would not pay full 1.2 million asking price. The home does not have a pool.

I am having a hard time believing the seller of the home paid $674.2k. The home is in the same area as the Enclave and was built a few months before construction started in the Enclave.

Lake Denham isn't really the same area as the Enclave. The Enclave is off of Dabney and it's a secluded area with little to no turnpike noise. This house is close to Megisson. FWIW I'm on Emiline and I can see this house from my back yard.




The house price of 674 makes sense. It is about 500 square feet larger than my house in Lake Denham. My house with the lot was $501K. So 173K more makes sense for the larger garage and extra square footage. Sale price would be the total price. I don't think the Villages lets you buy the lot separately, but I could be mistaken.

Some pics of my house lot...

[Randall55]

Originally Posted by frayedends

The house price of 674 makes sense. It is about 500 square feet larger than my house in Lake Denham. My house with the lot was $501K. So 173K more makes sense for the larger garage and extra square footage. Sale price would be the total price. I don't think the Villages lets you buy the lot separately, but I could be mistaken.

Some pics of my house lot (which is across the same pond as the house we are discussing)...

Is your house a premiere? Some time last year, the Developer eliminated a few designer series homes. These models are now being built as premiere homes. If the seller bought the home when it was built as a designer model, he had dumb luck timing. $980,000 aligns with the cost to build a premiere home today. The buyer is not dumb. Either the original price paid for the home is incorrect or the seller fell into a windfall.

[frayedends]

Originally Posted by Randall55

Is your house a premiere? Some time last year, the Developer eliminated a few designer series homes. These models are now being built as premiere homes. If the seller bought the home when it was built as a designer model, he had dumb luck timing. $980,000 aligns with the cost to build a premiere home today. The buyer is not dumb. Either the original price paid for the home is incorrect or the seller fell into a windfall.

The original price is what is recorded with the deeds. It is correct and they came into a windfall. I don't really know how they got this as a "premier" because from everything we were told the Enclave was the first place to buy premier homes in a few years. This house was sold before anything was listed in the Enclave. Pretty much all the homes in Lake Denham are designers. I can't say how this became premiere. I'm really curious how it was originally listed. Perhaps they got the lot and custom build in that area of Lake Denham. When we got ours, they were all built spec homes.

But if you look at it, it's just a big designer home. It has the high ceilings, and the big garage. Other than that really nothing more to it.

ETA: If you want a premier, a little smaller at 2169 sq ft, this one in the Enclave is pending at $767, 800, exterior lot.

It still looks to me like resale houses on a preserve can make a killing in Lake Denham, while interiors continue to sit a bit longer in Lake Denham, Dabney, and the Enclave.

[Randall55]

Originally Posted by frayedends

The original price is what is recorded with the deeds. It is correct and they came into a windfall. I don't really know how they got this as a "premier" because from everything we were told the Enclave was the first place to buy premier homes in a few years. This house was sold before anything was listed in the Enclave. Pretty much all the homes in Lake Denham are designers. I can't say how this became premiere. I'm really curious how it was originally listed. Perhaps they got the lot and custom build in that area of Lake Denham. When we got ours, they were all built spec homes.

But if you look at it, it's just a big designer home. It has the high ceilings, and the big garage. Other than that really nothing more to it.

That is my question. Was it built when a Sanderling was classified as a designer home? If so, simple dumb luck or the owner of the home is an investor who was privy to the change the Developer was going to make. You may look at it as a Designer home but the Developer now classifies it as premiere. Once the home hits VLS or MLS, it can be sold as a premiere. (even if the owner bought it when it was from the designer series)

BTW: Many premiere homes are simply designer homes with stretches. Some will pay $100,000 + for those added features. Is it worth it? For some buyers, it is.

I was comparing this home to those built in the Enclave because it would have the same cost to build. This home was built a few months earlier than the same model in the Enclave. Cost to build would not increase significantly in a few month time frame.

[frayedends]

I agree. Dumb luck or had some good info. There are a few other Lake Denham resale designers up for big bucks. I’m patiently waiting to see what they sell for.