[Normal]

Inventory on Zillow for the Villages has climbed another 7% for preowned homes in less than a month (Feb to March)as of today and up 50% for the past year (2024-2025). I’m wondering when the state of Florida is going to do something about insurance costs and property taxes? Two items they can work on but seem to have no interest in accomplishing? We just get more hot air from Tallahassee about what could be, but nothing is done.

There seems to be some aggressive price cutting on homes, but the bleed continues.

[Stu from NYC]

Village agent we purchased our house thru said the same thing the other day.

More houses around us for sale than we have seen since moving here

[gorillarick]

Do you think it has anything to do with building homes like making cookies gor a den of hungry Cub Scouts ?

[Aces4]

Originally Posted by Normal

Inventory on Zillow for the Villages has climbed another 7% for preowned homes in less than a month (Feb to March)as of today and up 50% for the past year (2024-2025). I’m wondering when the state of Florida is going to do something about insurance costs and property taxes? Two items they can work on but seem to have no interest in accomplishing? We just get more hot air from Tallahassee about what could be, but nothing is done.

There seems to be some aggressive price cutting on homes, but the bleed continues.

I'm somewhat amused by the thought the state of Florida needs to do something about insurance and taxes.

The property taxes in Florida come in a bit below the national average in the nation and there is no state sales tax.

As far as insurance cost in this state go, one must realize how insurance is designed to work. The risk of the state that is insured is spread over all the residents to cover losses when claims from losses and catastrophes occur.

The density in Florida is greater than ever now and loss from weather events consume much more property than ever. Hence, the huge losses create costs that need to be covered by the insured citizenry which is a tremendous expense and it isn't going away. That said, the roof replacement scam loophole should be nailed shut. But that is only a fraction of the expenses incurred for insurance companies.

Why do you think so many insurance companies bailed from offering Florida citizens insurance?

[Craig Vernon]

The preowned inventory in TV has more to do with a correction in property values back to a new norm than it does insurance or property tax rates. Property values went up too much in the last four years and now they need to come back down to again become a value to buyers. Struggling investors, flippers and folks that were used to moving every couple years at a profit are having trouble selling at 2022 levels. Those that need to sell will lower the price to create the new norm and those that don't will need to hold properties longer to break even. This is a very healthy thing. IMHO

[Decadeofdave]

Current listing's are 1398 properties. Buyers market, but not giving back all of the inflated pandemic equity.

[tophcfa]

Originally Posted by Aces4

The property taxes in Florida come in a bit below the national average.

Property taxes in Florida should be well below the national average for two reasons.

1) The biggest expense for many northern states is snow removal and treatment of the roads for ice. Then there is the annual road repair expense from the damage caused by the cycles of freezing and thawing creating rim eating potholes and the cleaning up of all the stuff used to treat the roads.

2) Florida has a unique ability to raise significant revenues from taxing the crap out of tourists and part time residents, who will keep coming regardless.

[CarlR33]

You really need to start a YouTube Channel for your passion on TV homes. Aggressive price cutting? I think I will list my home for $200K more than it’s even worth and then drop it down to what the market says it’s worth….so is that aggressive price cutting? I think not. You should track an actual home sold to what the price started out being in the first place to call anything price cutting? Unfortunately, I do not think the VLS will do that for you but MLS will?

[Aces4]

Originally Posted by tophcfa

Property taxes in Florida should be well below the national average for two reasons.

1) The biggest expense for many northern states is snow removal and treatment of the roads for ice. Then there is the annual road repair expense from the damage caused by the cycles of freezing and thawing creating rim eating potholes and the cleaning up of all the stuff used to treat the roads.

2) Florida has a unique ability to raise significant revenues from taxing the crap out of tourists and part time residents, who will keep coming regardless.

Interesting thought, as if Florida isn't playing catch-up with highways and interstate building. Anyone who has traveled by car through the years in Florida knows how gnarly the roads have been and now with even more travel pressure, it's worse. There has been an effort to bring things up to speed, so to speak.

If you're a resident of Florida, aren't you receiving the luxury of homestead taxes which stick a major chunk of the real estate taxes to Florida homeowners who claim another state as their residence? If real estate taxes are too much of a burden in Florida, the residents could vote for a state income tax and see if that makes them happier.

[Topspinmo]

Originally Posted by Aces4

I'm somewhat amused by the thought the state of Florida needs to do something about insurance and taxes.

The property taxes in Florida come in a bit below the national average in the nation and there is no state sales tax.

As far as insurance cost in this state go, one must realize how insurance is designed to work. The risk of the state that is insured is spread over all the residents to cover losses when claims from losses and catastrophes occur.

The density in Florida is greater than ever now and loss from weather events consume much more property than ever. Hence, the huge losses create costs that need to be covered by the insured citizenry which is a tremendous expense and it isn't going away. That said, the roof replacement scam loophole should be nailed shut. But that is only a fraction of the expenses incurred for insurance companies.

Why do you think so many insurance companies bailed from offering Florida citizens insurance?

IMO and I can have one? Never see struggling insurance CEO. So ceo can still make millions year and still insure in United States. IMO is insurance should be federal regulation. All states or none. Also if you build on sand dune it’s at you own risk. How that for opinion. IMO insurance IS legalized racketeering. Now, want to know what I think about lawyers?

[Aces4]

Originally Posted by Topspinmo

IMO and I can have one? Never see struggling insurance CEO. So ceo can still make millions year and still insure in United States. IMO is insurance should be federal regulation. All states or none. Also if you build on sand dune it’s at you own risk. How that for opinion. IMO insurance IS legalized racketeering. Now, want to know what I think about lawyers?

If one believes it is such a racket, one can self insure themselves and do without any of that leadership.

If one is worried about leadership in the insurance industry, one can also choose an insurance that is not in the stock market where everyone else is making money off of one's coverage.

One could also insure through a mutual insurance company and hope they have planned properly so when the massive damage costs hit as they did last year in Florida, they have the bucks on hand. Lots of alternatives out there if the insurance CEO is making one sleepless.

[Topspinmo]

Originally Posted by Aces4

If one believes it is such a racket, one can self insure themselves and do without any of that leadership.

If one is worried about leadership in the insurance industry, one can also choose an insurance that is not in the stock market where everyone else is making money off of one's coverage.

One could also insure through a mutual insurance company and hope they have planned properly so when the massive damage costs hit as they did last year in Florida, they have the bucks on hand. Lots of alternatives out there if the insurance CEO is making one sleepless.

Just racket like stock market.

[Stu from NYC]

Originally Posted by Topspinmo

IMO and I can have one? Never see struggling insurance CEO. So ceo can still make millions year and still insure in United States. IMO is insurance should be federal regulation. All states or none. Also if you build on sand dune it’s at you own risk. How that for opinion. IMO insurance IS legalized racketeering. Now, want to know what I think about lawyers?

OK I guess I will bite, what do you think about lawyers?

[Plinker]

Originally Posted by Normal

Inventory on Zillow for the Villages has climbed another 7% for preowned homes in less than a month (Feb to March)as of today and up 50% for the past year (2024-2025). I’m wondering when the state of Florida is going to do something about insurance costs and property taxes? Two items they can work on but seem to have no interest in accomplishing? We just get more hot air from Tallahassee about what could be, but nothing is done.
There seems to be some aggressive price cutting on homes, but the bleed continues.

I will preface this post by saying I’m ready for the slings and arrows.
Do the majority of retirees in TV really care if their home values go up or down or are they here for the long haul?
With regard to my home value, the only people who have skin in the game are our children. The number of home listings is of no concern as they routinely rise and fall based on a number of economic factors.
For those who have invested in real estate in TV or are flippers and the value of their properties have decreased, I would simply call that a risk of any speculative investment as there are no guarantees.
Historical data has shown that home prices tend to appreciate a little over 4% annually. The S&P 500 index, around 10%. However, these returns have volatility and should not be expected to occur each year.
My wife and I hope to still be here 20+ years from now. We focus on friends, family and the plethora of activities TV has to offer and not whether our home value has gone up or down as we don’t consider our home an investment. Our goal is to have fun and only bounce one check and that is to the mortician.

[CoachKandSportsguy]

Does anyone know the portions of inventory which is AirBnB and other short term rental property owners?

Its well known around the country that many AirBnBs were purchased during the pandemic, and the returns aren't there any more, due to the opening of the economy, and that rental prices have collapsed, along with days rented as intl travel came back with revenge vacations.

There are two houses in our development for sale, one is the original owners, and the other has only owned the house for 2 years, as the second owner. Both houses priced at the top of the Zillow range. However, I don't understand some peoples taste in home design. . not sure the reasons, but out of 99 houses, there is 1 or 2 houses for sale every year. . .

Also, any indication of foreign owners where the the value is falling with the USD conversion rates?

Is the percentage of owned homes any higher than in the past? if 1% is for sale at the prior max, and with the growth of homes built and sold in the last 5 years, is the percentage any higher than normal? if not, the number of houses is a function of the total number of houses that have been built.