small homes
 

Hi, was interested in the most affordable houses in the V in 2024. I assume prices will drop nationwide by 30% by 2024. Are there new sites opening up on the outskirts
for new small homes?

///

Size of home has nothing to do with amount of bond.

The Villages home pricing does not necessarily follow national trends in magnitude.

Each type of neighborhood has the same $ amount for the bond. e.g., all the villas in a CYV neighborhood will have the same bond if in the same Development District - a 2BR will have the same bond as the largest 3 BR. Some Courtyard villas are larger than the smallest designers, but the designer will have a larger bond. The bonds are set for the "density" of the neighborhood (how many units per acre or similar) every time a new development district is established. Patio villa neighborhoods will have the lowest bond per unit.

Unless you live in lady lake portion of villages, no bond...

Like I said, size of home has nothing to do with bond amount.


 What is the Bond Debt Assessment?

The bond debt assessment reflects each lot’s proportionate share of the cost of building the infrastructure within its District or for which its District has responsibility. It is the most equitable method of distributing costs between the properties that benefit from the infrastructure. Infrastructure includes storm water systems, underground pump stations, water retention areas, curbs, gutters, streetlights, transportation trails, underground piping, etc.

 How does the District arrive at the amount? Does everyone pay the same amount?

The Bond Debt Assessment was set at the time the bond used to build the infrastructure was issued. The formula for calculating each lot’s proportionate share starts with the total cost of the bond (including interest) issued to pay for the infrastructure. That cost is divided equally among each assessable acre in the “phase” of the District for which the bond was issued. That gives you a cost per acre. The cost per acre is then multiplied by the number of acres in the unit in which you live. That gives you the obligation for the unit as a whole. The unit total cost is then divided by the number of lots or parcels in the unit, and that computation gives you the amount of the assessment levied against each property. Therefore, each lot within a unit pays the same amount. Amortization schedules for each unit are located on the District’s website Village Community Development Districts

Home prices are not dropping like the national average here in the Villages. This is a resort area, and prices are on the high side.

Don’t expect a 30% price drop (I think the level of price increases will just slow), but prices will continue to rise here. Prices are dropping because interest rates are increasing, too many cash buyers in the villages.

Make sure you understand the property lines and property access, as well as the restrictions.

///

You mean less infrastructure means lower bond, right? No, than what do you mean?

um, this is a resort area?

me thinks some people have a very high opinion of houses in the middle of rural florida. .

They're able to sell and close over 100 new homes a week for some reason.

thinking this is a resort isn't one of them. .

5200 homes a year? Wow if true.

Not sure where you get home prices will drop 30% anywhere. Not going to happen, there is no evidence they will. In the villages, they will not drop, just level off. They barely dropped in 2008 and 2009. Just buy when you are ready.

The patio villas will definitely be the cheapest. They use to make a 1 bed/1bath house that you could get for about $160,000 a few years ago. Probably $220-240k now if they still build them. A 2 bedroom might still be under $300k. To get one of these you need to have an agent ready to pounce the second one comes available or you won’t get it. Used ones might be available as well. A Courtyard Villa is nice and a step up. Built of brick instead of wood but they cost a little more.

Bonds are less in Villa neighborhoods. More house per feet of roadway. On a certain length of road you might have only 6 designer homes vs 10 villas for the same length of road. So $10000/6 or 10000/10 to set bond amounts.

1. In my opinion prices will drop and we are already seeing the beginnings of this.
2. This is not a resort community. ( a 65 - 70 yr old woman at Aldi passed on buying eggs for 5 dollars as they were too expensive)
3. Interest rates will effect all potential non cash buyers lowering the supply of buyers at these prices.

I agree …. Lol 30% … banks won’t let that happen … I personally would buy now….there is a shortage of homes nationwide

Oh yes it most certainly does..the bond on a PV is not the same as a designer it goes by density and the PV obviously are set at a much closer rate.

Court yard villas are available stick built w/vinyl, block w/ stucco and now some new areas with prepoured walls that are set w/ stucco.

Let's see ...

Pools, tennis courts, recreation centers and golf courses around every corner? A bunch of people wearing shorts all year round, riding around in golf carts with weird logos, wearing silly hats?

That sounds suspiciously like a "resort". A resort is defined by what it is, not where it's located. Ever been to Yellowstone National Park? It's right the middle of rural Wyoming, bordering Cooke City, Montana.

Time will tell if prices will drop or not. Last time around in 2008 they didn't drop much and rebounded quickly. Time on market is just slightly up for pre-owned homes, but new construction still sells within hours of being released. There are something like 70% cash buyers here, so mortgage rates have minimal impact.

Now, what does the price of eggs, and whether or not a woman who may or may not even live in The Villages passing on their purchase, have to do with home sales?????

Golf course house in my neighborhood has come down from over 700 to under 600k. Similar house nearby sold for 730 a year ago. Prices for existing homes has definitely dropped. Why buy an overpriced new home with a 40k bond? Plenty of nice homes up north for sale.

Well, I just checked homes on TheVillages.com, and yes, there are a few golf front homes under 600K, mostly on the historic side and older neighborhoods and smaller models. If you want a designer built within the last 10 years on a golf course, you're looking at 1.1 million+

"new sites opening up on the outskirts"? depends on what you mean by "outskirts"

New sites in TV are all being established now in the south end around the Florida Turnpike. What is "outskirts" today in that area will be completely surrounded by homes in six months. And the new homes being built are the most expensive (for the size) in TV. Older resales are less expensive. Resales in the historic areas (northeast, across US-441) are the least expensive, because they are mostly 30-y-o manufactured homes. But still nice.

If you mean outside the edges of TV, then yes you can get much less expensive purchases—but you will NOT get the amenities unless you're actually inside TV and paying for them in your monthly bill. You won't even be allowed to enter or use the rec centers or pools. Even guest access is limited if you live close to but outside TV. You can play golf, but only at retail rates.

Newest area on south side of SR 470 (to be renamed) is approved for constructing over 8200 households of which over 200 will be under 55 (Middleton).

Properties in Florida in general will probably not experience a 30% drop anytime soon. 1000 people a day move here. Supply and demand. We have seen a very small correction.

Higher average age of resident than national norm: Higher mortality rate? Older citizen snowbirds giving up seasonal home? Older year round residents moving closer to family? Moving into assisted living? All of this would create more availability of pre-owned homes to sell. Then add the unrestrained building of new homes in new villages. Supply and demand.

Just curious , inquiring for a residence or a rental ,seems so many are becoming short term rentals and BnB, basically destroying neighborhoods.

Have you met anyone who sold a home South of 44 to move "up north"?

When we go to a "resort" or on a cruise, it often does not live up to what we have in the bubble, we're always happy to be back - spoiled living here.

Swimming pools, golf courses, tennis and pickle ball courts, horse shoes and shuffle board and bocce ball, games and crafts, free music—I’d say The Villages qualifies as a resort community.

Really?

This would be MLS homes only.

The Villages, Florida Housing Market Report December 2022 - RocketHomes

I have two patio villas going on the market next week. Marion county side, close to Nancy Lopez golf course and bonds are paid on both. You can PM me if interested.
352-360-5175

True, roughly two billion dollars in new home sales a year.

Which is an incremental 25 million dollars added to the property tax base per year.

Wildwood outpaces other cities in growth | News | The Villages Daily Sun | thevillagesdailysun.com

"The 5,179 new residents put Wildwood in seventh place among all cities in the state in net growth, behind only Jacksonville, which saw an increase of 20,951, Port St. Lucie (9,663), Cape Coral (7,538), Miami (7,506), Orlando (6,933) and Tampa (6,841)."

Patio villas are the smallest homes and least expensive so go very fast but they are building them all the time.

You are making a bad assumption about prices dropping 30% in The Villages never happened never will because the vast majority of us are here to stay so won’t be selling.

Yes.

If home prices in the Villages drop by 30%, the country will be in a deep depression. If you want a new home in the south development area, you will pay top dollar and have a bond to pay off as well. If you want a deal, buy north. You won't have a bond to pay off and the house price will be cheaper. A lot of homes north of 466 are old enough that they have been substantially updated.