Home Prices Coming Down Nicely
 

For our housing correction turn-around to happen in less than a year seems highly improbable and unprecedented, but now is the time to embrace the sunny side. The sunny side is the more realistic market will eventually improve our economy. The service sector could see a large boost and populations in the local area could surge because of required workers and housing. This would bolster micro economies and local innovation. A younger demographic is sorely needed here.

The developer seems to embrace this reality in new build offerings with stucco kissing lanais at about 225-35 a square and stick vinyl at about 205. This is a nice drop. Many villas are under 300. You can see all this on Homefinder - The Villages(R) Homes and Villas for Sale thevillages.com new homes section.

Perhaps the COVID shock to our economy has finally thawed.:pepper2:

Many of these "price drop" homes also have "feature drops" such as eliminating shower doors, smaller showers, dual sinks in master, blinds, washer/dryer, minimal number of electrical outlets, much less finished outdoor space, smaller and cheaper trim, shorter garages, undesirable lots/locations, lower quality everything in them. It's all smoke and mirrors and you get only what you pay for. They still build higher quality units with more features in them but you'll pay more per sq. ft. for them. Take a good look.

True to an extent
 

I agree somewhat, but not on all new homes. The prices haven’t hit the bottom totally yet either. Besides, the main idea is to get a better economy going in the area with a somewhat equilibrated demographic.

Unfortunately, the rear view mirror will be the best “tell all”.

We had planned on looking into a new build in the Eastport area but are no longer interested due to the lack of options at the "Street of Dissapointments" and to make additions/changes.

That is how they keep the prices down, not like their selling the same product at a lower cost, they are different and not in a good way.

If looking for a higher end home, it is making pre-owned look more attractive.

Pre owned
 

If both were the same square footage and same construction technique you would have some bond paid, improvements (solar tubes, painted garage, landscaping etc) it is a no brained. The only thing to watch out for in that hypothetical is the age of things. Roofs are scary, ACs cost money, cabinets aren’t cheap. Probably ideal would be a home about 3 years old?

I've bought many homes either to live it or as rentals and if there is anything I've learned is prices will go up and down for many reasons. I came to ignore the market and bought and sold when it met my needs.

The increase of home prices is not limited to The Villages, or to Florida. And we live in the most desirable place for this age group. The builder has always embraced the reality and this place has become more expensive because a lot of people want to live here. The price is and will be what the market can bear. Prices hurt the seekers, except that their present home is also worth more. Those who win now own property here.

As is true everywhere, we too need workers who want to work, not necessarily younger ones, just workers.

The new homes are solid slabs of concrete. There is not much you can change. I am interested in finding out how much it will cost to put in extra outlets after close. Can it be done? Or, will the electricians have to wire from the outside with tubing?

True! You forgot gutters, downspouts, door pulls on kitchen cupboards, low quality carpet, appliances, screens, sliders...
Plan on spending multiple thousands to finish your low priced new house.

They way they finish the exterior walls and wiring is no different than concrete block so no problem.

Maybe they was over priced to begin with?

Agreed
 

Maybe, but then again the rest of Florida must have the same problem. Those prices have dropped as well.

I spent the last few days looking at homes in nearby communities. Prices have dropped significantly. Still, we are waiting. The end of September may see further reduction.