Why are newer homes being sold?
 

Would be interested in hearing why so many newer homes are being sold? I do realize there are situations that cannot be controlled, just seems there are a lot of newer homes on the market. Are these homes being sold due to things the buyer did not realize prior to purchase?

Many buy home as an investment, rent or keep empty for a year (you are not allowed to make a profit under a year that is written in your contract with developer)

If it’s a great view, or location, without rent one may gain $50,000 and up. Add in as a rental profits increased even with gain on taxes. Some including us (fourth house)have moved more than once to newer areas and homes every couple of years. Profit are rolled into next build, makes a nice investment/income every year or two.

New homes have been selling at the one year, one day mark since we started coming to TV in 2007. So nothing new or unusual.

Our street is reaching the one year mark and there are a handful of homes listed already. Have to say the asking prices are quite higher than what was paid. Wow! Good luck to the sellers. If their realtors are correct, we made quite a nice investment here.

TV's construction crews are permanent full-time employees in some cases for generations. Building new homes is their business and they are quite good at it. This process will not stop in our lifetime.

No, I disagree. The pullout section for real estate in the newspaper now has 22 PAGES OF HOMES south of 44 in the new home area. Six months ago it was 12 pages. This is obvious just by the weight of that section in the paper. Check the paper again next week and you'll see what I mean.

Think you nailed it.

Anyone who bought new from 2017 when they opened Fenney until now will do very well profit wise.

People buy new and flip after a year elapses, some many times.

Of course if a couple resides in a home for two years or more capital gain of up to $500K on the sale of the home usually can be excluded from income tax.

I think that applies only to a person's "principal residence". If you've got a home elsewhere that you still claim as your principal residence, then any profit on the sale of your TV home is fully taxable in the year of the sale.

Prior to 2022 a lot of T V realtors would snag up houses. Rent them for a year and sell them. Then the "goldrush" happened causing the loto system for buyers buying up the new houses. Now that ended its back to same old same old. Most likely realtors/investors selling them. Its all about the $$$ flip after one year.

Its kinda sad to watch if you move to T V thinking the lifestyle will equal making long term friendships. Once your here you figure out real fast you have snowbird friends and some year round ones if you are lucky not to be on an ABnB ally. My parent's loop is a ghost town except for the weekly cleaning crew coming in for the ABnBs.

thanks so much for your input!

From listening to some YouTube videos and talking to people here, could be a few reasons. One realtor stated people purchased homes right before the market went crazy and they want to sell for maximum profit or they paid to much in the height of the market and want to sell in fear of losing money in the future. Another reason I have heard myself, some who bought just a year ago want to live near Eastport. Sometimes after being here you get a feel for the place and may just like another section better or it’s easier to be maybe closer to doctors or shopping or whatever.
A Villages sales agent told us they are selling 1000 homes a month. Crazy either way you look at it.

wondering if higher sell price is to account for closing expenses and the realestate commisson. Thank YOU!

I am very skeptical of these stories where people are making tons of money after a year. You are insuring, maintaining, heating, air conditioning, paying taxes and then closing costs on each house. Sometimes I think people are not doing the math, so I remain skeptical.

As I and many have posted location, view, prime models sell within days.
2012, Even after capital gains, the ending sale profit $56,000, plus 4 years of rental income. Each home after that six figures pretty normal as long as you have location, view, and model. Younger gens seem to buy sell. My parents in 80s would buy a rental, but not pickup and move every two years to make a profit