Real Estate in TV since covid19
 

I have been paying attention for the last couple months to houses for sale in the classifieds of our local newspaper. My observation for both The Villages and MLS listings is the same old houses are listed everyday. The same old perky million dollar producers and great views, won't last long, etc. but again same adds everyday. That seems to suggest nothing is moving. Anyone else observe this ?

I check my area - Pine Hills, Pine Ridge, Pinellas.....I do see a lot of repitition

I get notifications from Realtor.com when prices drop. There have been several substantial price drops lately.

There's one house in McClure that I started a thread on months ago that started out at $959,000. It's now $875,000..
Homefinder - The Villages(R) Homes and Villas for Sale

I know the house you are referring to. It is on Dadeo Place. It has 2 problems. One, it only has a 2 car garage and no place to park a golf cart. And, the houses on either side were sold for about half of the asking price. The price needs to be reduced by another $200-300 K.

That house is an anomaly. Look at the pics. It's a 2 car garage designer with outrageous finishes and a pool where the buyer couldn't close at the last minute.

Well selling season is here. With all the new inventory and the economy in the dumper, we shall see where prices head. If you took a 20% whack in your portfolio, you may not be thinking of relocating to The Villages right now....or if you want to trade up, your existing home may not be worth what you think

10,000 boomers reaching retirement age every day and they only need 6 of them to maintain their new home sales volume. With very few exceptions the only place you can buy a 2 bedroom villa for under $200,000 is in DeLuna on the power line. It also seems that there are fewer new homes being discounted and most of them are very near to the turnpike.

we're 2 who started at the wrong time,,, bought into villages last jan w/5-1 closing date,,, everything's fine til we fsbo our home & here comes the kung flu,,, magnanimously our seller agreed to cancel contract rather than defend in ct so we got 80% of deposit back.
we're still in atl north & prices are dropping here as well,,, thankfully we're no longer on mandated lockdown so we'll probably now see an increase in buyer traffic
if what vintage says is true, 10,000 boomers took the hit along w/the rest of us

Looks like the same houses are still for sale, not a good time to be buying and moving

Notice a lot of resales south of 44. Leaving so soon? Was it the penitentiary, the lack of connectivity or the feral hogs?

Slow??............maybe. Temporary??..........yes.


:shrug:

Did you see the gigantic closet in that house? Wow! And that beautiful covered and uncovered patio covered with travertine and the beautiful built in outdoor cooking area, and that amazing kitchen? It’s an astonishing house, though you are right about the garage being inadequate.

It’s hard to show houses right now. Open houses aren’t allowed. It’s hard to sell houses that can’t be shown. People who can’t travel are less likely to travel to The Villages to buy houses they aren’t allowed to see and enjoy amenities that are closed.

Also, for every hundred buyers who can swing $250,000 for a home, there may be only one willing or able to pay $875,000. It’s not that people wouldn’t like to have it. Actually, for that level of finish and that size, I’d say that were it not for the small garage, that’s easily a million dollar house. If you have the money.

Once people can travel and houses can be shown, the market will take off. Those who can wait a few months will do fine.

But, homes may drop 20%. Homes are NOT moving, and there have been price decreases. I expect that may continue for a couple months.

Been watching just the villages listings as we are still north for 2 years but open to buy before...anyways the used are listed for more than new. The new all located near turnpike. So my favorites have grown to double its normal size. I keep favorites of the houses I would be interested in. But also lack of connectivity is a big factor. Lots of houses in New area and only two places to get a beer. North I see houses which are overpriced. 400k for kissing lania and 500+k for anything with pool. 400 in New gets a lot fits a pool plus three full car garage and a year new warranty. Some with a water view too. But no shopping yet. No balance yet in price or what you get in last year. Year ago I would say new just because houses were not near highway.

A good metric to use is average days on sale. One for new homes in TV and another for preowned. Check with a reliable real estate broker.