Talk of The Villages Florida

Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)
-   The Villages, Florida, General Discussion (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/)
-   -   Buyer’s Market in the Villages (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/buyers-market-villages-352705/)

Plinker 09-07-2024 07:53 AM

Quote:

Originally Posted by FloridaGuy66 (Post 2368023)
Talk about pushing a narrative based on extremely suspect data.

I don't even understand why some of these current TV homeowners are obsessed about being doomers with the market here. If you already bought, who cares about what the new prices are or how well the new homes are selling? I bought 3 years ago and I personally don't really care one way or the other. That would like like number 1000 of the things that I would care about.

Totally agree. The only two people who care about the value of our home is our daughters.

graciegirl 09-07-2024 08:09 AM

Quote:

Originally Posted by Normal (Post 2367217)
With a real buyer’s market emerging in the Villages Florida, you may want to seriously watch any contracts you might be pressured into signing. Be prepared to write contingency requirements on any contract if you do take the plunge on a buy during the fall winter sales seasons when sales are at their lowest point.

Florida leads the nation on CANCELLED CONTRACTS. Neighboring Orlando is ranked number one in buyers cancelling with cold feet before a close.


In Orlando, about 900 home-purchase agreements were canceled in June, equal to 20.8% of homes that went under contract that month—the highest percentage among the 50 most populous U.S. metropolitan areas. Next came Jacksonville (20.5%), Tampa (20.5%), Las Vegas (20.2%) and San Antonio (19.9%).

Note, Florida has the top 3 spots. Make sure you aren’t stuck on the hook for a foolish impulse buy. Prices are taking the plunge right now.


Homebuyers Backed Out of Deals at a Record Rate in June

More people are trying to buy in Florida than any other place as well. I read something different in this;

Buyers backing out of deals in record numbers as market shifts

Normal 09-07-2024 09:19 AM

Read This This Morning
 
Quote:

Originally Posted by graciegirl (Post 2368162)
More people are trying to buy in Florida than any other place as well. I read something different in this;

Buyers backing out of deals in record numbers as market shifts

https://www.**************.com/2024/...-the-villages/

Great Article!

Read this morning. Investment group lost money on their recent Villages home purchase. Paid 481,500 a couple years ago, but now are selling it for 425,000. The Villages real estate market certainly is not a get rich quick investment. If you want to move here, don’t focus on real estate profit, focus on life style where it doesn’t matter if you gain or lose value on your home.

Most of us love living here! It just bothers me when some paint it all a bed of roses. It isn’t. It’s what you make it. There is nothing wrong with having ups and downs. Right now if you are a buyer, you rule in negotiations.

vintageogauge 09-07-2024 09:56 AM

Timing. In any investment that is the key word.

Snakster66 09-07-2024 12:31 PM

Quote:

Originally Posted by vintageogauge (Post 2367917)
There is only one 4 bedroom home on water for sale and only twenty six 3 bedroom homes on water for sale via TV agents, they are not struggling to sell. I agree that homes on interior lots are struggling as there are so many of them available both re-sale and new.

Premium lots are not just water lots (golf course lots count).
VLS is not the only place these are sold.
I assure you, there are/have been homes on premium lots that have struggled to sell this year.

Jayhawk 09-07-2024 01:43 PM

Quote:

Originally Posted by Normal (Post 2368214)
https://www.**************.com/2024/...-the-villages/



Most of us love living here! It just bothers me when some paint it all a bed of roses. It isn’t. It’s what you make it.

I guess some of us are "glass half full" people. I look at this deal as a property bought by an investment firm to RENT it out, which is just what they did apparently for 2 years. If they averaged $2,400+ per month(their last posted amount), they may have generated $60,000 +/- in income. And as a rental, they could depreciate the cost of the home for all the time they own it. Not impossible that they end up making $20-40,000 including tax treatment on their investment for a bit over 2 years.

Velvet 09-07-2024 01:57 PM

Quote:

Originally Posted by Normal (Post 2367663)
Yes, there are hundreds of other homes for sale if the seller chooses not to offer concessions.

Prices are down and inventory is quite high.

So, how many people in “the inventory” are desperate to sell? Maybe some estate sales… why would investment buyers sell now with rents so high…

DrMack 09-07-2024 03:48 PM

Not Great
 
Quote:

Originally Posted by Jayhawk (Post 2368311)
I guess some of us are "glass half full" people. I look at this deal as a property bought by an investment firm to RENT it out, which is just what they did apparently for 2 years. If they averaged $2,400+ per month(their last posted amount), they may have generated $60,000 +/- in income. And as a rental, they could depreciate the cost of the home for all the time they own it. Not impossible that they end up making $20-40,000 including tax treatment on their investment for a bit over 2 years.

We are renting our house out. It isn’t all it cracked up to be. Taxes and the District bill eat up a lot. The rental management eats up some and we still have taxes for Leesburg, Lake county and the school district. I promise you, they didn’t or aren’t going to make out.

vintageogauge 09-07-2024 03:51 PM

Quote:

Originally Posted by Snakster66 (Post 2368293)
Premium lots are not just water lots (golf course lots count).
VLS is not the only place these are sold.
I assure you, there are/have been homes on premium lots that have struggled to sell this year.

I'm was only referring to water front properties, they are very scarce and sell quickly. The homes on other "premium" lots are harder to sell.. I've lived on a golf course as well as water front and much prefer the water. With many or most of the golf course lots you lose privacy as well as peace and quiet from the golfers, their gas carts, the maintenance crews, etc. all just beyond the lanai. They seem to develop lots along the cart paths and at tees and greens. If you are lucky enough to find one away from the paths, etc. you will pay dearly for it. This is just my opinion after living on both, many people enjoy the constant flow of golfers while relaxing on their lanais, I enjoy quiet nature.

Snakster66 09-08-2024 06:53 AM

Quote:

Originally Posted by vintageogauge (Post 2368352)
I'm was only referring to water front properties, they are very scarce and sell quickly. The homes on other "premium" lots are harder to sell.. I've lived on a golf course as well as water front and much prefer the water. With many or most of the golf course lots you lose privacy as well as peace and quiet from the golfers, their gas carts, the maintenance crews, etc. all just beyond the lanai. They seem to develop lots along the cart paths and at tees and greens. If you are lucky enough to find one away from the paths, etc. you will pay dearly for it. This is just my opinion after living on both, many people enjoy the constant flow of golfers while relaxing on their lanais, I enjoy quiet nature.

Thank you for the clarification. On this I believe we agree.


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