Talk of The Villages Florida

Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)
-   The Villages, Florida, General Discussion (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/)
-   -   The Villages Q2 Real Estate Update (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/villages-q2-real-estate-update-334080/)

Altavia 07-31-2022 01:02 PM

The Villages Q2 Real Estate Update
 
1 Attachment(s)
For those not on the email list, Q2 Real Estate Update from The Villages.

Altavia 07-31-2022 01:08 PM

1 Attachment(s)
Spanish Springs

Altavia 07-31-2022 01:09 PM

1 Attachment(s)
Lake Sumter

Altavia 07-31-2022 01:11 PM

1 Attachment(s)
Brownwood

Altavia 07-31-2022 01:12 PM

Link to the full document.

Q2 Market Update 2022

Altavia 07-31-2022 01:12 PM

Deleted duplicate post...

larcha 08-01-2022 07:44 AM

How do you get on the mailing list for these updates?

Stu from NYC 08-01-2022 08:05 AM

With rising interest rates wonder how much price of homes will come down?

flower7330@gmail.com 08-01-2022 09:08 AM

We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

Stu from NYC 08-01-2022 10:29 AM

Quote:

Originally Posted by flower7330@gmail.com (Post 2121190)
We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

For one thing established landscaping. Also closing to shopping.

Altavia 08-01-2022 10:48 AM

Quote:

Originally Posted by larcha (Post 2121130)
How do you get on the mailing list for these updates?

Ask a Villages Rep to add you to the mailing list. They don't send a lot of spam.

Altavia 08-01-2022 10:50 AM

Quote:

Originally Posted by Stu from NYC (Post 2121141)
With rising interest rates wonder how much price of homes will come down?

It's been reported up to 80% of home sales here are cash.

coconutmama 08-01-2022 10:51 AM

Quote:

Originally Posted by flower7330@gmail.com (Post 2121190)
We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

We have added thousands into our home since we had it built. We expect to add a few more eventually. If you purchase a pre owned home you will most likely change a few things, but overall most of the usual upgrades will be done, which will save you time, aggregator & money. A lot of upgrades have gone up in price due to labor & material increases.

For examples, we have upgraded our floors, put sliding glass, electric shades & a/c in our lanai, as well as many other items.

Also our location is super. A stone’s throw to multiple pools, rec centers, dr offices and shopping.

Altavia 08-01-2022 10:54 AM

Quote:

Originally Posted by flower7330@gmail.com (Post 2121190)
We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

The better locations sell fast, remaining inventory homes tend to have something less desirable about the home or location. They may be discounted as the areas is closed out

Stu from NYC 08-01-2022 12:06 PM

Quote:

Originally Posted by Altavia (Post 2121241)
It's been reported up to 80% of home sales here are cash.

I have heard that but for the other 20% who need a mortgage costs will go up and supply of buyers who can afford this place will go down.

Debfrommaine 08-01-2022 12:19 PM

Have purchased three new homes over the last several years near Lake Sumter Landing and 466a. At that time we found discounted new build homes because the developer wanted to finish the neighborhood and move onto the next project. There were some good deals to be had.

Babubhat 08-01-2022 12:27 PM

They are overpriced. Many will need a roof, ac, water heater etc. better off with new

manaboutown 08-01-2022 12:57 PM

Quote:

Originally Posted by flower7330@gmail.com (Post 2121190)
We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

Location, location, location is a time honored real estate adage.

Flyers999 08-01-2022 02:07 PM

Quote:

Originally Posted by Altavia (Post 2120907)
Link to the full document.

Q2 Market Update 2022

What percentage of homes are being bought by real estate investment companies this year?

Boilerman 08-01-2022 02:46 PM

Quote:

Originally Posted by flower7330@gmail.com (Post 2121190)
We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

It’s not unusual to see a pre owned home with $50k of upgrades. Some listings claim $150k of upgrades. A pre owned home less than 10 years old with a bunch of upgrades is a better value than a brand new home.

Flyers999 08-01-2022 02:50 PM

Quote:

Originally Posted by flower7330@gmail.com (Post 2121190)
We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

Also either low or no bond on older homes. (Sorry if this has already been mentioned.)

Packer Fan 08-01-2022 09:29 PM

Quote:

Originally Posted by flower7330@gmail.com (Post 2121190)
We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

Preowned have-
upgrades done - these can be expensive
Some of the bond paid
bigger yards
Closer to shopping and golf courses
NO TOLLWAY NOISE
Closer to more town squares
Sometimes some furnishings or a golf cart.

I have bought one of each, it all equals out

westernrider75 08-02-2022 06:05 AM

IMO it’s mostly because upgrades like driveway painting, landscaping and interior upgrades have been done. Bond May also be paid, or paid down.

Personally, I don’t want the traffic that all the shopping areas bring, so that would be a negative on my list.

Bay Kid 08-02-2022 06:12 AM

Quote:

Originally Posted by flower7330@gmail.com (Post 2121190)
We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

Location, location, location.

These stats are on Village sales, does not include Realtor sales.

Papa_lecki 08-02-2022 06:41 AM

Quote:

Originally Posted by Stu from NYC (Post 2121269)
I have heard that but for the other 20% who need a mortgage costs will go up and supply of buyers who can afford this place will go down.

That doesn’t mean the 80% need a mortgage. With mortgage rates at 2 or 3%, you finance, if they jump to 5 or 6%, you pay cash, or finance a much smaller amount.

Papa_lecki 08-02-2022 07:07 AM

Quote:

Originally Posted by Flyers999 (Post 2121357)
Also either low or no bond on older homes. (Sorry if this has already been mentioned.)

That’s impossible, I’ve read on here MANY times, a house with $0 bond is not worth more than a house with a bond balance

Papa_lecki 08-02-2022 07:11 AM

Quote:

Originally Posted by flower7330@gmail.com (Post 2121190)
We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

It’s almost impossible to generally compare 2 homes, without knowing the details of what’s included.
With a new home, there are always upgrades that need to be made. Most pre owned homes have many thousands of dollars in upgrades. The area around an existing home is most likely fully build out and already has established traffic routes.

As mentioned, established home MIGHT have replacement/maintenance costs sooner.

Laker14 08-02-2022 09:10 AM

Quote:

Originally Posted by flower7330@gmail.com (Post 2121190)
We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

I wasn't aware of this phenomenon. But, as mentioned before, it's tricky to compare prices without looking at the particulars of each home. When I was shopping for a home in TV, I found that pre-owned homes were a better value, IMO, when I factored in upgrades, and bonds. Bonds don't affect the value of the house, unless of course, one can do math.

I also factored in age of roof, HVAC etc etc, and where I wanted to live.

vintageogauge 08-02-2022 09:16 AM

5 years ago when we bought a new home the re-sales were also higher and our agent said they always are. We looked at both and chose new because there was no wear and tear on anything and at the time you can pick any lot you wanted and they were cheap. Also took into consideration the new home warranty.

Bay Kid 08-03-2022 06:55 AM

Quote:

Originally Posted by Papa_lecki (Post 2121547)
That’s impossible, I’ve read on here MANY times, a house with $0 bond is not worth more than a house with a bond balance

It was to me when I was buying.

Stu from NYC 08-03-2022 07:15 AM

Quote:

Originally Posted by Bay Kid (Post 2121952)
It was to me when I was buying.

OK but several real estate sales folks have told us not worth paying off bond unless we are sure to stay in our current house for forseeable future so our bond is still there for now.

Bay Kid 08-04-2022 06:55 AM

Quote:

Originally Posted by Stu from NYC (Post 2121966)
OK but several real estate sales folks have told us not worth paying off bond unless we are sure to stay in our current house for forseeable future so our bond is still there for now.

Different strokes for different folks. I look at it as bad debt, like paying interest on a credit card.

Stu from NYC 08-04-2022 12:08 PM

Quote:

Originally Posted by Bay Kid (Post 2122379)
Different strokes for different folks. I look at it as bad debt, like paying interest on a credit card.

We all spend our money as we see fit.

Thinking it is best to decide if we stay in current house for some time before paying off bond and possibly not getting the money back from our buyer.

retiredguy123 08-04-2022 12:35 PM

Quote:

Originally Posted by Bay Kid (Post 2122379)
Different strokes for different folks. I look at it as bad debt, like paying interest on a credit card.

The bond is not the same as credit card debt or even mortgage debt. Those debts are debts against an individual that can affect their credit rating and can have other financial consequences, like higher insurance rates. But, the bond is a debt against the property, and does not count as individual debt. The individual homeowner never needs to pay off the bond. But, you do need to pay interest.

Bay Kid 08-05-2022 06:21 AM

Quote:

Originally Posted by retiredguy123 (Post 2122538)
The bond is not the same as credit card debt or even mortgage debt. Those debts are debts against an individual that can affect their credit rating and can have other financial consequences, like higher insurance rates. But, the bond is a debt against the property, and does not count as individual debt. The individual homeowner never needs to pay off the bond. But, you do need to pay interest.

I understand. To me it is like credit card debt because you can't write-off the interest.

Altavia 08-05-2022 09:25 AM

Here's a thread on Bond discussion.

https://www.talkofthevillages.com/fo...highlight=Bond

Bogie Shooter 08-05-2022 09:52 AM

Quote:

Originally Posted by Altavia (Post 2122821)
Here's a thread on Bond discussion.

https://www.talkofthevillages.com/fo...highlight=Bond

Doubt that will help, there are only 107 posts on that thread.🤦

Altavia 08-05-2022 11:54 AM

Quote:

Originally Posted by Bogie Shooter (Post 2122832)
Doubt that will help, there are only 107 posts on that thread.🤦

Just another Groundhog Day thread... 🤣

Laker14 08-05-2022 04:35 PM

Quote:

Originally Posted by Stu from NYC (Post 2121966)
OK but several real estate sales folks have told us not worth paying off bond unless we are sure to stay in our current house for forseeable future so our bond is still there for now.

The question of whether to pay it off or not is a different question than whether or not the existence of a bond balance has an effect on the purchase price, or attractiveness of the property compared to other properties.

Stu from NYC 08-05-2022 06:34 PM

Quote:

Originally Posted by Laker14 (Post 2122987)
The question of whether to pay it off or not is a different question than whether or not the existence of a bond balance has an effect on the purchase price, or attractiveness of the property compared to other properties.

We were told by several real estate professionals that most people will not consider the cost of the bond in deciding on whether to buy a property.


All times are GMT -5. The time now is 09:02 PM.

Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2025, vBulletin Solutions Inc.
Search Engine Optimisation provided by DragonByte SEO v2.0.32 (Pro) - vBulletin Mods & Addons Copyright © 2025 DragonByte Technologies Ltd.