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Your opinions on current home prices in TV
Village Friends,
We have some friends coming to visit us again in TV, ( we are still PTimers and coming in w/them for a few weeks) and they have been somewhat interested in buying there. They have been waiting out the housing :(slide and I was wondering, what you guys thought the new prices were doing in TV these days..Down like everyone else, steady , or still going up? Any info./opinions will be passed along to interested friends, thanks!! |
Re: Your opinions on current home prices in TV
I watch the market here on a very regular basis. Things like how many units are on the villages web site (resales) . As of today there are 427 active and pending . This is relatively low. I have seen it as high as the 490s. And other things like incentives and the price of the new homes in the daily open houses. I was expecting that this summer would be a great buying opportunity. We are full timers but have inlaws and a brother wanting to buy here. I thought that with the lack of winter visitors, the villages sales would continue to drop. They seem to be holding up rather well. According to the paper they are currently selling 7 and a half homes a day.
In my opinion the biggest thing holding the villages sales down is the lack of market up north. We know several couples that would buy here but have been unable to sell their current home. They are not willing to have two mortgage payments. I personally am advising friends / relatives to wait a couple of more months to see how things progress unless they have a buyer for their home up north now. / jeffy |
Re: Your opinions on current home prices in TV
I feel that the market in TV has bottomed out and things are on the upswing. I have started to see homes selling within 60 days of listing. Of course in this market that is real good, but at the height average time on market in TV was less than 20 days. As Jim Cramer would say BUY!BUY!BUY!.
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I will sound like a real estate agent which I am not, but I think this is the time to buy. We saw an open house with a villa furnished (very nicely) yesterday for $150 K.( The villa with a front picket fence.) In Hadley. Brand new.
We returned back to Ohio today, and I don't know if this is home or I have left home. We settled into our partly furnished new home in Hadley, stayed ten days, and I didn't feel like leaving there. Met two couples who will be our neighbors if we ever get there at the same time, went to Bingo, which I hadn't done in a thousand years. It was fun! Sweetie, Helene and I set next to someone who was from Ohio, the very same area as us. The ice cream was yummy too, even if we didn't win. It was at the Odell Center. 100 yards from our house. What a good time we had. Returned to a gorgeous display of blooming, as if this dear house is jealous of it's competition. A riot of roses, climatis, day lilies and snapdragons. Life is confusing, but good. |
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According to Mr Morse they have sold more homes in April and May of 2008 than they did in the same 2 months of 2007.
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wlou,
My opinion, and it is strictly an opinion...is that TV new home prices took a pretty good drop in 2007 then leveled off for awhile and now seem to be ever so slightly creeping back up. Nowhere near where they were in 2006 but higher than 4 months ago. In my opinion, they have already hit their bottom. |
Re: Your opinions on current home prices in TV
I've been following the prices and they are going down. The econony is in a down turn, read any paper any day except for the daily sun and you will see a clear picture of what is going on. Job loses are up and airlines are cutting flights, about 4 have gone out of business, construction jobs are down, GM and Ford are closing plants, car dealers are suffering. Went out furniture shopping today and there are sales in many of them and I saw one going out of busines sale. I do think we here in the villages are faring better than some other parts of the country, we also have many empty stores ( yes i know there are other big chain stores opening , and thats a good thing ) just read some the articles in this forum that talk about empty stores. Unfortunatly alot of them are smaller operation. Who really need another Beals of Belks wouldn't a little more variety be better?
Perhaps things will improve after the presidential election--Hope so sorry to be gloomy-but you asked |
Re: Your opinions on current home prices in TV
I agree with V07. They are blowing out Miona Shores, but other than that, I think prices are creeping up. They are showing markdowns on homes, but I think they bumped the prices up so they could put them "on sale". I think the prices on the villas and ranches are pretty high for homes of that size in the middle of Florida. This could be a great time to buy. I expect the demand will rise as usual this winter.
While the economy isn't stellar, there are still a lot of people with a lot of money. In our age group there is a lot of accumulated money. As Poromo said, a 1 BR in NYC can cost more than a premier here. Some of that accumulated money will be coming to TV, whether the "big house" up north sells or not. |
Re: Your opinions on current home prices in TV
Chatting with some folks in the closing department a couple of weeks ago, they said the number of new home closings have been averaging in the mid-200s per month compared with high 300's to 400's during the peak a couple of years ago.* But they said closing activity has been picking up a bit.
Check out www.Zillow.com and search The Villages.* Here is a link to one of the houses for sale just south of 466:* http://www.zillow.com/HomeDetails.htm?zprop=70820910 Scroll down a bit and click on the "1-year" tab on the graph.* Compare sales in The Villages to sales in the 32162 zip code, Sumter County, and Florida.* Some interesting stuff.* After a few weeks of monitoring this site, you'll see some trends established.* It appears the prices have been trending upward over the past two or three months which supports what I was told in the closing department.* The Villages market is somewhat different than the surrounding area and most of Forida.* I expect it to recover sooner and prices rise higher than surrounding areas. Put in your own address and city for whereever you now live and you will see the price trends for your own area. |
Re: Your opinions on current home prices in TV
We bought a villa a few weeks back, so I guess we put our money where our mouth is!!!
We think prices are about as low as they're going to go and the timing was right for us. |
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Re: Your opinions on current home prices in TV
I talked to a Villages realtor last wk. about buying a lot on a golf course and having the same house I have now built on it. In Dec., 2006, I also had an opportunity to buy the same style house on Truman Golf Course and (guess what?) it was the same exact price then as it is now. The realtor quoted that the Bond was approx.the same as it was in Dec.2006. So, really the prices of The Designers are basically still the same as in 2006, but I do think (at least)the Patio Villas are about $25,000 more than in 2006 (my sister bought a new one then for $125,000 and in a great location, I'm pretty sure the same style is now $150,000.
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Re: Your opinions on current home prices in TV
Thanks So much for all of the informative replies...I will pass all of that info along to our friends. I knew this was the place to get the answers! I think they should buy now but I am biased, we love TV...Take Care and thanks again!
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My opinion is that when you look at new houses for sale today it is difficult to compare apples to apples with previous year sale prices for so many options change. I think home prices have come down but the greatest reduction was in premium lot prices....not in the actual sturcture cost. To compenaste for the reduction in cost (or profit for the builder) its my feeling that the builder is putting less options into the new homes. SO you are getting a cheaper house today but this house even if it sits on a golf course, probably also has less options in the house than one built 2-3 yers ago.
I agree with what previous posters said in that once the housing market starts moving again up north, The Villlages will again "explode" in construction and value. He is not doing bad selling 7.5 houses 7 days a week. I think any developer would cherish those statistics. BUY now while you can at reasonable prices. |
They Don't Look Too Bad To Me
Just for the heck of it, I visited several of the new construction models they've been advertising in The Daily Sun. I found the exact same model that we bought two years ago in Hadley with a sales price within $200 of what we paid. I thought that one would give me a good idea of what's happening to prices in TV.
How'd they compare? In my opinion we have a heckuva a lot more house in a better location than the models we looked at. Obviously, a Lantana is a Lantana is a Lantana. But when comparing the features and lot you get for today's price compared to two years ago, there's no doubt in my mind that I'd stay where we are. Bottom line? Unlike other parts of the country where the prices of houses are plummeting, it looks to me like prices here have remained the same or maybe even ticked up a bit. Based on the "comp" of the models I looked at, I'm convinced that our house, as it sits now, would command a price of as much as 10% more than our total investment (original cost plus all the stuff we've added--landscaping, birdcage additions, cabinets, painting, pavers on the driveway, etc.). We closed on our house in Mallory Square two years ago today! And it's pretty obvious that "the bottom" has been reached here in TV. It's going to be all "up" from here on out. |
Re: Your opinions on current home prices in TV
I agree, Kahuna. When I compare our Mallory home to the new homes, I see "differences"
or things missing in some of the newer models. I do note more "summer kitchens" in the newer homes. though. We are considering pulling our Mallory home off the market for a couple of years. I think by then you will really see a big bounce up. |
Re: Your opinions on current home prices in TV
Short history, TV started out catering to people willing to live in trailers. People were retiring to Fl. not so much for lifestyle but economics, inexpensive to live and retire, perfectly good reasons. TV , like other retirement communities need some inducements to lure prospective buyer, and that is where the developer was brilliant!! I don't need to go into details about that. We have all benefited by his actions. In the mean time, more affluent buyer were attracted leading to larger homes, higher prices, more options etc. Again we all benefited, you haven't lost money unless you bought in during the rush two years ago, or are trying to hold more than one house. Please keep in mind that if you paid $200,000 2 years ago and sold it yesterday for $ 200,000 you haven't lost any money, but because of inflation the $200,000 you received for your house will buy less groceries, less health and car insurance, less gasoline etc. as a result of inflation. You can however replace the house for $200,000. I'm getting to my point. We are doing better than other parts of the country. Our homes are holding up for a number of reasons, not the least of which is lifestyle. We are attracting buyer that looking for the the lifestyle and can still afford to buy. This, I am told is being hampered by the fact buyer from the North are having trouble selling their homes. If they could we would have many more buyer and we would see prices start to raise. Stonecrest and Delweb haven't done so well. Glad I don't have to sell something there. It seems from the reading this forum, people who own homes in the Villages see the glass 1/2 full, that is market getting better. I own 2 homes in TV and read the Sun and the homes for sale comps are going down, not leveling out, not up, down. If you are an investor maybe wait. If you want to be a homeowner, you find something you like maybe it is a good time to buy. Housing has always been supply and demand. Perhaps things will improve after the presidential election--Hope so sorry to be gloomy-but you asked |
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Excellent and informative post and not gloomy, just realistic. Our daughter who came along with us last week to help us settle in and who is not easily impressed was VERY taken with TV and when she returned home she heard that a retiring doctor/ professor ( MD) from University of Cincinnati's College of Medicine had just bought here. She felt he had his choice of anyplace to retire with his earning ability. It is comforting and not at all surprising to know that people who can choose anywhere to retire, choose here. I am an incurable optimist. I believe that we will recover from this economic downturn. I can't figure out how we will fight these terrible oil prices which are at the center of it, but I do believe in our Yankee ingenuity to discover a new way to fuel our country. |
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Hello,
This is our first post. We are learning a lot by reading TOTV. We are retiring to TV hopefully this fall. We are particularly interested in opinions about Bridgeport @ Miona Shores. One post said that the developer was "blowing out" Miona Shores...any ideas of WHY? The developer seems to have stopped building spec premier homes; we guess, because he does not want to have them sitting around in this real estate market. We want to buy a Chatham (anyone know of any for sale?), and the developer will build us one in BMS (BTW, TV realtor says he does not know where the next premier community will be). We've met lovely people there at BMS, so the neighborhood is as friendly as the rest of TV, but our concerns have been: 1. having to cross a county road on golf cart 2. noise from Lakeside Landing next door 3. the inaccessibility of the neighborhood (we don't know the golf cart route from BMS to Sumter Landing. Please don't worry about hurting our feelings...be honest about BMS please. |
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Good luck with your move! |
Re: Your opinions on current home prices in TV
I looked on the villages new homes for sale website today, and they had a gardenia in Hadley advertised for $238 something. That's really low compared to what they've been. At least for that home style, apparently prices are still dropping.
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Re: Your opinions on current home prices in TV
potterthompson,
You have it right on Bridgeport at Lake Miona. The area was a horse pasture with beautiful oaks. Then Lakeside Landings came in and our Developer got into a little power grab to stop Lakeside Landings.This was not suppose to be part of the Villages. This horse pasture with beautiful oaks that we all enjoyed from Asland(where I am a snowbird) was turned into a premier community. They cut down all the trees and started building big spec homes as close together as they could. Well, no one bought them. You have to cross a dangerous road to get into the Villages and drive all the way to the Bonny gate to get to Buena Vista drive or anyplace. That means you have to backtrack all that way to get to Bonny to head back down to the Lake Sumter. Poor Location. Plus they had some problems with Wildwood being so close-they had building materials stolen. These premiers are off by themselves with a gate anybody can get into... So they have really been trying to sell them with great prices, pkgs deals etc. Some have sold...some have set empty for over 2 years. They stoped building them as spec homes. |
Location, Location, Location
I took a look at some of the models (that aren't selling too well) in Bridgeport at Lake Miona. They really are discounted quite a lot from what the salespeople say was the "original" asking price. I can't imagine they ever really priced them at that level. Given the "difficult" location of that village, the prices seem about right to me, certainly not ever worth the original price. Remember one other thing...Lake Miona is a public lake. Anyone can get onto the lake from the public boat launch on the west end. The lake is the "backyard" of Bridgeport at Lake Miona. Also, take your golf cart and backtrack from that village to Lake Sumter Landing, the stores, restaurants, the Polo Field, wherever. It's a looong way out of the mainstream of things!
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The facts indicate the glass is half full and on its way to being filled. Like real estate, gloom depends on location. |
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Check your local paper, do the math. Things don't add up, sorry. |
Re: Your opinions on current home prices in TV
It's been my strong feeling for the past few months that the real estate market in TV has bottomed and is creeping back up. The developer may still be offering deals on selected houses and selected villages, but gone are the days of an additional percent for furnishings and/or golf cart, and other promos, and of course all new construction sells with a bond--the newer the village, the bigger the bond. We bought our resale Designer (3-1/2 years old at the time) with bond paid plus various improvements last fall and have yet to see anything come near it in price--new or resale--and I don't think we will from this point on. As I say, this is 'my strong feeling' that's not based on documentable research. We were fortunate in that we didn't have to sell up north; otherwise we could never have been able to buy as we did....
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VNH 1350114 $237,768 I was suprised too. Doesn't seem possible. |
Re: Your opinions on current home prices in TV
I've been watching new home prices for almost 2.5 years. We bought in Apr and felt the prices from what they were in 2005 were comparable. Then they started climbing dramatically and have since dropped. Have they bottomed? All I know is that we looked at everything from pup tents to premiers. We felt as though the price and time was right and considered it a "wash". We dropped the price on our northern home until it sold and noticed that TV homes had also dropped. There are some good values especially with pre owned homes too. One such home we first looked at dropped drastically since we've purchased our new home. Figures! They've lowered their original price by 14%. Sorry - snooze ya lose.
F16 |
Re: Your opinions on current home prices in TV
OK..I feel BMS is to close to the public boat launch and Lakeside Landings. Crime is an issue in TV and the surrounding areas. BMS is cut off from the rest of TV. The prices are fabulous, though. I think the reason prices are so low is because of the issues I mentioned.
People that do buy there should become close. IMHO only. I could be so wrong. |
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The base price of a Gardenia is probably just a little over $210, about 10% over where it was in 2005. |
Re: Your opinions on current home prices in TV
potterthompson:
BMS is kind of off by itself. If you want a really big house at a really great price , BMS would be hard to beat. The people that bought there a year or so ago , must be sick with the price they paid and what they sell for now new. I believe the bond is about $48k there :o . I may be wrong but I believe you can get around the golf cart inaccesibility by buying a street legal golf cart to get from BMS to Buena Vista Blvd. I think that the speed limit there would allow it (someone correct me if I am wrong, as this would be my major fault about buying at BMS). As far as the other concerns, the great deals they offer there would far out way those. I live in Winifred in just a tremendous street with tremendous neighbors. If that were not the case , I would certainly be looking a grabing one of those deals. / jeffy |
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Jeffy,
re: street legal golf cart. Interesting point, except that I'd still be afraid to be driving on a street in a golf cart where folks aren't that used to seeing 'em, besides the added speed. |
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According to Jim Cramer, the Florida real estate market has hit its bottom:
http://www.thestreet.com/s/cramer-fl...atb#1614615989 |
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After reading these posts, I am very glad I bought my villa in May. Also sold house in PA, close 7/31. Thanks to all who gave their opinion, great reading. Don't know what I would do without TOTV. Great forum. Seems like I've been making really good decisions where TV is concerned. Yippppppeeeeeee.
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