[ROCKETMAN]

Just a question directed to villagers who own small ranches or villas and have lived in them for over 7 years. How much more do you think your home is now compared to the purchase price? We have a 2-2 austin, paid 162,500 in 2005. Between landscaping, all tile floors, better countertops, and other misc. items, have spent 20,000. At most i don't think i would get high 160's. This in part because we bought at the absolute highest prices and you reach diminishing returns when adding on to a smaller home.

[rayschic]

You can use this link to find out what homes in your neighborhood are selling at (or any other neighborhood for that matter)
Just put an address in and Run Search to get the property record. Look down at the sales price area. There is a button to search for recently sold homes within a half mile. Click on that and you will get a list with lots of info.

Sumter County Property Appraiser

[Golfingnut]

Originally Posted by ROCKETMAN

Just a question directed to villagers who own small ranches or villas and have lived in them for over 7 years. How much more do you think your home is now compared to the purchase price? We have a 2-2 austin, paid 162,500 in 2005. Between landscaping, all tile floors, better countertops, and other misc. items, have spent 20,000. At most i don't think i would get high 160's. This in part because we bought at the absolute highest prices and you reach diminishing returns when adding on to a smaller home.

Home values have been going up over the last year or so and have recovered a fair portion of the loss between 08 and 11.

[Villages PL]

Originally Posted by ROCKETMAN

Just a question directed to villagers who own small ranches or villas and have lived in them for over 7 years. How much more do you think your home is now compared to the purchase price? We have a 2-2 austin, paid 162,500 in 2005. Between landscaping, all tile floors, better countertops, and other misc. items, have spent 20,000. At most i don't think i would get high 160's. This in part because we bought at the absolute highest prices and you reach diminishing returns when adding on to a smaller home.

I live in a patio villa that I purchased late in 2004 or early 2005. I put in lots of cabnets in the garage plus a workbench w/cabnets above and below. I put in wire shelves and some new landscaping.

I haven't tried to sell it but I know from experience that prospective buyers tend to focus on what's wrong or what a house doesn't have, rather than the good features or improvements. Sometimes it may be genuine and sometimes it may be for bargaining purposes. For example, they might say they like title floors but the color isn't right for their furniture. As far as landscaping, all homes have it anyway so they will wonder why they should pay extra.

[gomoho]

My experience as a REALTOR in this current market is the home that is updated and has the extras, and the landscaping with curb appeal (not just landscaping) sell quicker and maybe for a little more money. In a buyer's market your home has to be pristeen for people to even consider as a possibility unless you are willing to give it away.

So hopefully all the TLC you have put into your home will probably not be returned $ for $ but hopefully you enjoyed these improvements as you lived in the home and sometimes that alone is a worth the investment.

By the way - you know a REALTOR will do a comparative market analysis for you with no obligation on your part.

[ajbrown]

In my hood which was new in 2007, my estimation is that we are still down about 10% from what we paid new. I see some recent sales that support this.

I should also point out this is the best hood in TV so your price may vary

[cgalloway6]

For the newer homes, the price of a new Gardenia has gone up over 10% since April of last year. If you look at the lots for sale they also appear to be creeping up and the developer has also been decreasing the 4% discounts from last year in 1/2 per cent chunks.

[gomoho]

And is it my imagination, but are the lots also getting a little bit smaller???

[Jimbo120]

Originally Posted by ROCKETMAN

Just a question directed to villagers who own small ranches or villas and have lived in them for over 7 years. How much more do you think your home is now compared to the purchase price? We have a 2-2 austin, paid 162,500 in 2005. Between landscaping, all tile floors, better countertops, and other misc. items, have spent 20,000. At most i don't think i would get high 160's. This in part because we bought at the absolute highest prices and you reach diminishing returns when adding o to a smaller home.

I think your high 160's estimate is fair but may be a little high. Hope prices firm more in the coming year.

[asianthree]

Originally Posted by rayschic

You can use this link to find out what homes in your neighborhood are selling at (or any other neighborhood for that matter)
Just put an address in and Run Search to get the property record. Look down at the sales price area. There is a button to search for recently sold homes within a half mile. Click on that and you will get a list with lots of info.

Sumter County Property Appraiser

thanks for the link

[Schaumburger]

Originally Posted by ROCKETMAN

Just a question directed to villagers who own small ranches or villas and have lived in them for over 7 years. How much more do you think your home is now compared to the purchase price? We have a 2-2 austin, paid 162,500 in 2005. Between landscaping, all tile floors, better countertops, and other misc. items, have spent 20,000. At most i don't think i would get high 160's. This in part because we bought at the absolute highest prices and you reach diminishing returns when adding on to a smaller home.

I posted a new thread about this today. I am a wannabee, currently doing a short term rental in The Villages. Yesterday I attended an open house for a patio villa in Bonnybrook (this villa had very nice upgrades, and a brand new roof was installed on it by Owens Corning last week because of shingle issues for patio villas in Bonnybrook). List price for this patio villa was $154,000. The sales agent (an MLS agent, not a TV agent) who had this listing predicted that this patio villa will be worth close to $200K by 2016 because homes in TV will appreciate that much in 3 years because of the build out. Don't know if this agent is knowledgeable or not, just repeating what he told me.

[Geewiz]

Check this out - and homes are only going to go up in price

The Villages Home Prices and Home Values in FL - Zillow Local Info

[CarolSells]

Originally Posted by Schaumburger

I posted a new thread about this today. I am a wannabee, currently doing a short term rental in The Villages. Yesterday I attended an open house for a patio villa in Bonnybrook (this villa had very nice upgrades, and a brand new roof was installed on it by Owens Corning last week because of shingle issues for patio villas in Bonnybrook). List price for this patio villa was $154,000. The sales agent (an MLS agent, not a TV agent) who had this listing predicted that this patio villa will be worth close to $200K by 2016 because homes in TV will appreciate that much in 3 years because of the build out. Don't know if this agent is knowledgeable or not, just repeating what he told me.

Wow. Any agent who offers predictions on the future value of a property is a fool IMHO. Please don't make a decision about a purchase based on info like this which is based on nothing more than wishful thinking.

[Schaumburger]

Originally Posted by ROCKETMAN

Just a question directed to villagers who own small ranches or villas and have lived in them for over 7 years. How much more do you think your home is now compared to the purchase price? We have a 2-2 austin, paid 162,500 in 2005. Between landscaping, all tile floors, better countertops, and other misc. items, have spent 20,000. At most i don't think i would get high 160's. This in part because we bought at the absolute highest prices and you reach diminishing returns when adding on to a smaller home.

2005-2006 was close to the height of the real estate market in the Chicago area before the prices starting going downhill. Just wondering was 2005-2006 about the height of the real estate market in The Villages? How much, if any, did prices dip in The Villages when the real estate market declined across the rest of the U.S.?

[Schaumburger]

Originally Posted by CarolSells

Wow. Any agent who offers predictions on the future value of a property is a fool IMHO. Please don't make a decision about a purchase based on info like this which is based on nothing more than wishful thinking.

Carol, You are right; I have to keep a calmer head about all this, and take what the real estate agents say with many grains of salt.