[Normal]

Originally Posted by Craig Vernon

I disagree TV has a problem with speculators, flippers and AIRBNB short term rentals. The thirty percent increase over two to three years was a benefit to short term investors not full-time residents or individuals. TV has an excellent history of 6% a year in value growth if property values drop by 10% of the 30% they gained in the last few years it only takes incentives from short term investors and hopefully removes some of the speculators from the market. IMHO.

We actually are seeing a decline in home values for last month. The Developer created a huge inventory that isn’t moving. Retirees haven’t absorbed the financial impact of fixed income versus active workforce. Obviously continued active workforce buyers aren’t generally buyers in most cases for a retirement community. This is being exasperated by the continued recall of workers back to their offices.

IMHO this isn’t the time to buy, look to the Spring of 2024. Buyers now would likely see financial loss. The downward correction will last until at least the early summer of next year.

Major losers ironically will be small home Villa owners. Investment properties will take the largest hit since they are the surplus in existing sales and inventory.

If you are a buyer, it’s advisable to use the home value metric of price per square foot and compare it the existing market. Comps are out the window. Banks are savvy to previous problems after 08 with lagging comp value calculations.

Speculators absolutely will take the largest hit during this crash. Be very cautious if you are a buyer.

[Altavia]

There's still about 100 names a week showing on the news residents boards in the sales centers so not much has changed.

[Normal]

Originally Posted by Altavia

There's still about 100 names a week showing on the news residents boards in the sales centers so not much has changed.

Great, 5,200 homes sold this year then? Sales maps, county records, the news, WallStreet and the Villages own websites are all wrong. Who knew?

[vintageogauge]

A crash???? I don't know what village you live in or if you even live in one but in our village the majority of the homes listed are sold in a week or two at unbelievably high prices. You also need to put into your equation the number of family homes TV has built outside and sold this year using the builders that would normally build within TV, these homes are not included in the numbers they release. I would not hesitate in buying a home here now nor would I expect to have to accept a lower price to sell my present home, I keep an eye on re-sales and our particular model continues to command a higher price than last year or the year before. There are several designer home models that are in great demand and very few are for sale, 2 that I have noticed are the Woodside and Ivy models, both being 4 bedroom homes. Another thing I noticed in some of the patio villas is the lack of window and patio blinds, lesser amount of sidewalks, smaller patios, no washer/dryers, no glass shower doors in the masters, etc., they have cut back a lot on features and therefore they can sell them at a lower prices with the same profit.

[Bogie Shooter]

Originally Posted by Normal

Great, 5,200 homes sold this year then? Sales maps, county records, the news, WallStreet and the Villages own websites are all wrong. Who knew?

So, where did you get this ax that you seem to continue to grind?
What is your point?

[Rcflyer55]

The cost of new homes are definitely up. In Dabney the bonds are high 30k-mid 40k with high interest rates. Land 25k-60k. Taxes 16.8mills. By the time your done building a mid 500k home taxes + bond will be close to 11k. That’s what we pay in the Northeast. Basically no savings when moving like there used to be. Add in higher home insurance and idk. I’m just glad we’re not the people who need a 200k house and are on a strict budget. TV is definitely not what it use to be. Eastport is going to be even worse.