Wellpoint
 

Fyi: Streets in the Village of Wellpoint, just south of Monarch Grove, are showing up on maps.

So those interested in that area may want to stay in contact their Sales Rep.

Have to wonder if the street names are hairdressers, nail techs or office managers. Looks like the street name pool is dwindling :loco:

LOL, they might be running out of unique employee names at some point.

New Homes for sale in Lake Denham, Dabney, Moultrie Creek and now Wellpoint? Construction is moving fast!

Looks like a Good Place to live . . .

Wellpoint is also the name of a medical insurance company. So maybe the street names could be the names of drugs, medical conditions, types of operations...
Oxy Ave
Lipitor Lane

:jester:

I am a bit skeptical that the developer will open yet another village for sales. A few weeks ago, when my daughter and I looked at new homes, there were 400+ available homes in Lake Denham and Dabney, 60% of the lots were still available in the Enclave, and over 100+ lots in Moultrie Creek. The sales rep told us there were plans to finish out Richmond, and a few cyv are planned in Hacienda. QUITE A LARGE inventory to unload before opening up another area. The Developer needs to get his sales team to work. They are lagging behind.

What map service did you get this from? I agree that Wellpoint will open soon, but, looking at the satellite images, it does not match exactly to what has actually been done. Granted, the changes are not huge. This looks like a map used for initial approval of streets, not from an intactive map service.

Wellpoint
 

You can find it via the Sumter County website. click on link ("Just a Moment")

Just a moment...

Growing Inventory
 

We are relocating (via renting initially) to the Villages this spring with the hope to build in the area north of Eastport. Wellpoint, Oak Hollow, and Edenfield are on our list of preferred villages. I am wondering how the developer reacts to slowing economy/market. I am assuming they will dramatically slow the progress given the seemingly growing amount of inventory. For anyone that has been around since before the great financial crisis, was it a dramatic slowing and did any reduction in services/maintenance occur of existing facilities?

I agree this is the first time that it seems to be multiple villages with tons of unsold houses. With more than 350 sales reps, guessing it not them lagging. Maybe it’s the areas that aren’t selling, and the fact there isn’t that

This is the last of the houses like in “07” rush to buy before nothing is left

I have lived here since early 2000. Each time a Village was open for sales, it sold out very quickly. This is the first time home sales have slumped leaving the Developer with a huge inventory.

Quite a bit of newly constructed home prices were reduced in Lake Denham. My sales rep told me he expects more. However, I do not see this happening. The developer must keep prices relatively the same to satisfy the needs of those who have purchased homes and to protect future sales.

I believe he needs to work with his sales team and come up with new and innovative ways to sell the inventory. In my estimation, he is looking at approx $250 million worth of homes unsold. It's a new world and it is not likely to change back to the old norms. Members of the sales team who cannot find customers in this changed environment should be eliminated.

Your idea to rent before buying is spot on. This will give you time to evaluate the market yourself. A good starting point would be to count the number of new homes and lots available on the Villages site. Each month, do a new count. These numbers will reveal if the slump is continuing or has improved.

Growing Inventory
 

margaretmattson /asianthree - Thanks for responding.
I have been watching the Villages housing market extremely closely since Feb 2022. Like you said, homes/lots were flying off of the market. The market has really slowed since Lake Denham/Dabney have been developed. Do you think it is more about the location being so far away from everything (especially before the announcement of the purchase of the "Secret Promise" property)? Could the market have hit a wall so quickly? I know lots of other retirement communities are offering significant incentives to home buyers. I have been told that the Villages doesn't offer incentives. Maybe that will change.

Your guess is as good as anyone's. Location? Perhaps. But, Moultrie Creek is in the Eastport area and sales there are slow. Keep looking at the Villages site. There is an area in Richmond where new homes will be constructed. When Richmond was built it sold out in lightening speed because of it's proximity to Brownwood. If sales are slow there, location IS NOT the reason.

Mortgage rates? Maybe. But, cash buyers now have a choice - buy real estate or earn good interest by investing. People who choose to invest use the interest earned for luxury vacations, cruises, etc. Like you, more are finding it is cheaper to rent.


Buyers who purchased homes for investment are finding it to be a competitive market. With an abundance of rentals, many lose money because they cannot rent the home as easily as anticipated.

Villagers who bought before the mortgage rates increased are sitting pretty. They have lots of equity in their homes and low taxes. Those who got a mortgage received an extremely low rate. In the past, Villagers were known to move at least 3 times. In this market? Why move? It is much cheaper to stay put and remodel if they choose.

Maybe the wave of new buyers want something else. That would be up to the Developer to identify. Do they want maintenance free homes, townhomes, better roofs, more amenities, who knows what will attract more buyers? If the Developer can identify their wants, it will be foolish to resist change.

Many of my younger relatives and their friends are talking about war. Some seem to think even if the USA remains neutral, it will affect our economy. They are having a wait and see attitude.

Other reasons for a sales slump? Increasing insurance rates, hurricanes, scorching hot summers, holiday slow sales, the list goes on. The real reason for a slump in sales is probably a factor of all of these and possibly more.

It is probably best that you continue to monitor the sales. You will be able to recognize if the slump remains constant. Then watch how the developer reacts. If sales increase, you can be certain you can build a home with no worries.

The only incentive the developer has offered is a reduction in the price of 70+ homes. Unfortunately, most of these homes back up to busy streets. It doesn't appear the Developer is keen on giving anything away.

All I know is I’m sitting here, in Arizona, waiting to sell my house so I can go there. This fix to the economy couldn’t come at a worse time.