[Michaeljay]

Where are you finding your information on home not sold in the new build areas. We are looking to buy ( a cottage home) .we are not seeing anything for sale.

Originally Posted by margaretmattson

250 + homes were reduced in Lake Denham and Dabney. Nearly 100 are still available one year after completion. While those 100 homes are sitting at reduced prices, new builds in Moultrie Creek are starting to pile up. This is nothing like previous years. Inventory is much larger.

[Topspinmo]

Originally Posted by Craig Vernon

As I have said on here before my wife and I have been watching the real estate market in TV for our near-term purchase for retirement. This morning 6-8-24 listings increased from 536 to 635 over night. Interesting turn of events?

Probably new housing listings?

If I wasn’t so lazy I’d add mine to list.

[CybrSage]

All I know is there have been three listing's in my tiny village (one of the scattered sections of St Johns) that I noticed for sale. All three were off the market in less than two days.

Maybe St John's is just the place everyone wants to live...but for me, I do not see.this doom and gloom slow sales people are talking about.

[Altavia]

Originally Posted by Michaeljay

Where are you finding your information on home not sold in the new build areas. We are looking to buy ( a cottage home) .we are not seeing anything for sale.

In case not aware, you can use the Villages App. The data may be a week or so old. You can set a filter to only show the home styles of interest.

Best thing is to get a Villages Rep searching for you. Especially for the new ones in Wellpoint. Guessing they could be as little as 6-8 wks away from sale. There will probably be a lottery.

I just searched and saw no Cottage homes.


The Villages(R) App on the App Store

[Escape Artist]

There’s three houses on my small street that all came on the market within a few weeks of each other. Let’s face it, the market has bottomed out. Too much inventory, both old and new, and not enough buyers. It’s seems all those so anxious to flee their former locales for the friendly confines of TV and Florida have already done so. All good things must come to an end!

[Laker14]

Originally Posted by Escape Artist

There’s three houses on my small street that all came on the market within a few weeks of each other. Let’s face it, the market has bottomed out. Too much inventory, both old and new, and not enough buyers. It’s seems all those so anxious to flee their former locales for the friendly confines of TV and Florida have already done so. All good things must come to an end!

Bottomed out? How do you know it won't go lower yet?

[JMintzer]

Originally Posted by bowlingal

Craig....lots and lots homes in the southern section for sale already. High bonds, lack of restaurants, shopping, taxes, the prison and turnpike could be why

More likely people trying to turn a quick profit...

[Glowing Horizon]

Originally Posted by Normal

Agreed. Reality governs us all. Eventually when we do see the bottom in pricing for the market, many will benefit from buying when we get there. The initial premise of the whole thread was inventory issues. It is going up, prices are coming down.

The pandemic caused a huge diaspora into Florida which drove prices to an inflated short-term high (bubble). Now theres fewer buyers due to higher interest rates also reducing rental investors. There’s much less of an impulsive motivation to move with immediacy. (Trying to tippy toe around obvious politics)

IMO increased consumer prices have made more of us doubt whether we can depend on the economic future of the middle class to resemble the past—shaking the confidence needed to make a big change too.

[Glowing Horizon]

Originally Posted by huge-pigeons

The sky is falling! The sky is falling! All these stats are way off. Prices coming down to 21 levels? Those days are gone! Prices are $50,000 less than what people are asking. Even those sellers are making $100,000 to $200,000 profits in a a couple of years.


TV has discounted prices in the more undesirable areas, and some people might think the prices are falling: just not true. You can add DeLuna to your list and even with those discounts, I wouldn’t live in that area.
Have you tried buying a place in Eastport? Probably not because the lottery is invoked for new properties with hundreds vying for the same piece of land/house. How can somebody say the sky is falling when you have hundreds vying for the same piece of property?

Are a lot of the listed existing homeowners hoping to move to the newest areas? Seems like a lot of Villagers must do that.

Also, comparing the number of homes for sale now compared to any time before is not apples-to-apples bc TV has grown so much. Of course one would expect more homes for sale now. Listed homes as a % of total homes (then & now) in TV would be best but may be difficult to ascertain

[Normal]

Originally Posted by Laker14

Bottomed out? How do you know it won't go lower yet?

It’s highly unlikely we have bottomed out yet, not one investment firm evenly remotely suggest it.

Here are some likely outcomes as we weather this through…

More affordable homes coming onto the market.
In May, there were 35.2% more homes for sale than a year earlier.
Every region in the U.S. saw gains in May.
No movement on interest rates in the short foreseeable future.

All these point to the gorilla in the room getting nipped….inflation

[Aces4]

Originally Posted by Ptmcbriz

When interest rates go up, real estate slows. When interest rates start dropping, real estate will speed up. It’s not rocket science…

Actually, interest rates are completely normal if not a tad low right now. Borrowing money was not and should not be free. Tiny percentage rates on mortgages are ridiculous. The big pig in the room is inflation.

I saw a pound of store brand butter today selling for $7.99. That's just a sampling of how prices are continuing to soar.

[justjim]

Originally Posted by Papa_lecki

JM - so true. Let’s you and I start an investment company, buy all this investors at dirt cheap prices hold, and when the ocean’s rise we will own a fortune in beach front property (or at least our grandkids will).

We have a condo over at Cocoa Beach. It’s more for the kids and grandkids. We like the view also great place to watch space launches. It’s nice walking for exercise on the beach. Inventory of Condo’s and single family houses are definitely up in Cocoa Beach and Cape Canaveral. Almost half are sold for cash and sales are now slowing. Insurance rates are more than twice what we pay in TV.

It wasn’t hard to see the real estate bubble coming. Higher interest rates, higher insurance cost , and more inventory is quickly making it a buyer’s market for coastal property and to some degree TV property. If you don’t have a need to sell, don’t be concerned. This is normal.

[Craig Vernon]

Yep, just an MLS glitch apparently on the 100 new listings. Don't shoot the messenger. See you all as neighbor around the end of the year or before. Have a wonderful day one and all.

[Bogie Shooter]

Originally Posted by Escape Artist

There’s three houses on my small street that all came on the market within a few weeks of each other. Let’s face it, the market has bottomed out. Too much inventory, both old and new, and not enough buyers. It’s seems all those so anxious to flee their former locales for the friendly confines of TV and Florida have already done so. All good things must come to an end!

Originally Posted by Laker14

Bottomed out? How do you know it won't go lower yet?

Or for that matter who really knows anything……just opinions.

[Bogie Shooter]

Originally Posted by Craig Vernon

Yep, just an MLS glitch apparently on the 100 new listings. Don't shoot the messenger. See you all as neighbor around the end of the year or before. Have a wonderful day one and all.

Many of the TOTV experts screwed up once again.