TV real estate might hold value longer than the average
 

https://x.com/TrishaFLsun/status/1803763885331112300

Ouch, sale by private equity (PE) landlord starting to unload houses at steep discounts. .
I can't be happier as PE landlords should be limited or prohibited.

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TV has competition for VALUE per sq foot based upon the house alone. .
TV might hold its value more for the location. .

Mortgage Applications at 35 year low
 

I think many households will be OK as long as they aren’t trying to sell right now. If anyone was thinking of selling, it may be better to just ride things out and pull their home off the market till things get better. It shouldn’t be a time for anyone to buy unless they are desperate or offered one heck of a deal by a seller. Builders in many areas of the state have stopped construction for now.

Of course it is no secret that this week’s mortgage applications are at a 35 year low. Not great when you consider about 55% of all Villages home purchases are financed.

This resale in Lake Denham (that desolate area with nothing around it) is under contract. No way to know what they sale price is until after closing, but it was listed at 1.2 million.

I realize it's a "premier" but it's really just a nice designer home with no pool. Great location but I am being told that I shouldn't have bought in Lake Denham because I'll lose my shirt. Sale like this says otherwise.

The Villages(R) Homefinder - Find Your Dream Home

Still selling 70-100/week.

Pending says $980,000. Closing in August.

I'm very familiar with that area. My parents bought their vacation home around there over 40 years ago. I've spend around a month a year for almost 40 years there. I even own some land around there that I bought in 2007.

It's extremely saturated with speculative investors. You can check the property records for any given street and often the majority will be owned by foreigners in South America or Asia, or some corporation. It's been like this for 20+ years.

I don't think there's any valid comparison there to The Villages area that proves anything. The area was oversold and now many people are in unloading mode. Just look at Zillow for that area and you'll see thousands of homes and lots for sale with many on the market for over 200 days.

It depends on what type of home you purchased. Homes with great views and/or pools are making a great profit. Other types of homes are hit or miss depending on the LOCATION. Homes closer to squares usually sell quicker than those farther away.

This thread is about PREOWNED homes. The developer selling 70-100 homes is HIS PROFITS ALONE. A significant factor is hundreds of his homes are being sold at reduced prices. A homeowner wanting to sell his/her home has to compete with the developer's slashed prices and nearly 1000 available preowned homes. Not a great time to place your home on the market unless it has a great view and/or a pool or is unique in some way.

disagree

So I guess it is a good time to buy

Bottom isn’t here
 

:1rotfl: :1rotfl: :1rotfl: sure wink wink

You can if you wish, but the bottom isn’t here yet. I would wait till you see a change in interest rates and look for when prices start to go up first. Right now prices are still decreasing and in many cases plunging in many parts of Florida.

Interesting. How can you see the pending sale price.

I go into the app on my iPhone and I find the house. When you pull it up, scroll down to flyer and click on flyer.

Yes, it works
 

So cool. The 20% + discount on the home is great way to gauge what the lots and homes are worth there. I’ve noticed a large swing in comps many places here. Hopefully many will jump in when the market gets right and we start on a rebound.

I’m not sure I’m reading your post right. I wouldn’t call this a 20% discount. The house sold a year ago for $674K. If it’s going for 980 then they are making about a 40% profit (assuming about 30k in landscaping upgrades) in 1 year. Dang.