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/)
-   -   It feels like two completely different housing markets in the villages. (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/feels-like-two-completely-different-housing-markets-villages-356208/)

asianthree 01-30-2025 09:43 AM

Quote:

Originally Posted by rsmurano (Post 2405636)
The enclave is an area that TV were offering big discounts for land because nobody wants to build there. This is the only area that 1/2 the lots are still available 1 or 2 years after development started, even DeLuna between the turnpike and 301 were more discounted but sold out within 6 months.

.

You might want to update your post. None of the lots were offered at big discounts…today no lots are available, 2 homes are pending, and one is up for 1.5 million. We would have built there because it’s extremely quiet, and removed. But when designers were in the mix for “Premier” neighborhood, with same interior as any house, we passed. So far every preowned in Enclave has sold rather quickly, with a very nice profit

Bassdeer 01-30-2025 09:48 AM

Yea
 
Quote:

Originally Posted by edtherock (Post 2405658)
Well people may like new and have to be in a lottery to get what they want which takes time. Or they can buy my 22 year old stucco house with the most beautiful view of Laurel valley palmers course tee number 4, green number 6 and a water view of birds and wildlife sitting on a cul de sac. With privacy from neighbors. And you don’t need to pay 50k on top of the new house price for a bond! !oh don’t forget 2 squares in 10 minute golf cart ride, Publix , Costco, Ace , and restaurants and bars all within 5 minute golf cart ride. Convenience galore!!!! Mini split in lanai with 8 double sliders and a bird cage. 2400 sq feet hvac space Not for sale ——but a high enough offer gets it!!! lol.

Sounds like the Village I want. What village is this? You can PM me if you want. The clues you gave I think I found it.

goneil2024 01-30-2025 10:39 AM

IMO TV and specifically the VLS is a well-planned and controlled market with significant capital resources to sustain market, supply and interest rate shifts. As observed, the "lottery" is a way of creating competition between buyers by the seller (developer). Also, as observed by some on this BLOG there are two distinct markets, the MLS and VLS however where the MLS is open and consists of many independent (mostly) sellers while the VLS is not.

As someone who expects to purchase a home in TV, it's clear to me that TV is employing time proven marketing techniques developed by OPEC for oil (a commodity) and others such as the Diamond Market (a luxury product). In the case of the global diamond market prices are influenced by managing the release of rough diamonds to the market through a system called the "single channel" distribution, where only authorized buyers ("sightholders") could purchase diamonds directly from the supplier/cartel, effectively limiting supply and maintaining high prices.

Similarly, in the case of OPEC, the Organization of the Petroleum Exporting Countries, influences global oil prices by collectively managing the supply of oil produced by its member nations, essentially controlling a significant portion of the world's oil production, which allows them to raise prices by cutting production when needed[/I][/B], and lower prices by increasing production when necessary.


In each case (Diamonds and Oil) there is truly no shortage of Oil (just willingness of suppliers) or Diamonds (to release existing supply) in the world, just a limited number of sources that control the supply creating the 'market'. It's all about who controls the market channel and by extension availability of "product" to the ultimate consumer of the product.

In the case of TV and the VLS, my options are limited, even in a buyers' market, so recognizing the market dynamics and what leverage I have is essential. I can control my willingness to make offers on a home(s) in a given village by selecting a model, location, 'New' or 'pre-owned'. Also, as interest rates rise, the number of baby boomers, and retirees' shifts/declines, carry costs increase (tax, material, fees, etc.) I would expect the supply of homes to increase as published in the MLS and VLS. We are seeing and published reports support that the actual sales price of homes offered through MLS are declining as measured by Year-Over-Year (YOY) sales price per square foot (SF) for a given property/type of property or expanding the quality of the offering, e.g., more extras, no bond, furnishing, view, features, etc.,. However, on the VLS being a more disciplined and controlled market as time goes on, we may either see fewer new homes being released as in the case of the lottery, or for those being offered lower offering prices on a SF basis.

In the final analysis I believe homes, love, and diamonds are very personal and emotional choice, TV created a luxury product that blends lifestyle with some features of a commodity, let's not confuse the characteristics of one with the other.

Normal 01-30-2025 10:53 AM

Too Big
 
Quote:

Originally Posted by goneil2024 (Post 2405721)
IMO TV and specifically the VLS is a well-planned and controlled market with significant capital resources to sustain market, supply and interest rate shifts. As observed, the "lottery" is a way of creating competition between buyers by the seller (developer). Also, as observed by some on this BLOG there are two distinct markets, the MLS and VLS however where the MLS is open and consists of many independent (mostly) sellers while the VLS is not.


Hardly the case. External markets influence the Villages in a myriad of ways. If homes with the same amount of square footage, amenities and other accesses located inside the Villages sell for half the price of new homes in the (Now much smaller) Villages market, the builder will have to offset pricing so they are still competitive. Labor and government are also large players in the real estate market. Used and Newsed priced homes will be noticed by buyers who want a piece of the Villages pie. The development has grown too big to control as you suggest.

The answer for them is to start a new Villages with differences in amenities and access. It’s really past due for them to do so. The market has already influenced the charging of “upgrades” which were once always part of the deal.

kansasr 01-30-2025 11:13 AM

1 Attachment(s)
Quote:

Originally Posted by asianthree (Post 2405695)
You might want to update your post. None of the lots were offered at big discounts…today no lots are available, 2 homes are pending, and one is up for 1.5 million. We would have built there because it’s extremely quiet, and removed. But when designers were in the mix for “Premier” neighborhood, with same interior as any house, we passed. So far every preowned in Enclave has sold rather quickly, with a very nice profit

Just because the Enclave lots aren't listing on the Villages website at the moment, does not necessarily make them all sold. As of the end of November, according to the Lake County Property Appraiser, 34 of the 122 lots in the Enclave were still owned by the developer. Given how slowly these interior lots have been selling, I doubt all 34 have been sold since then.

Here's a drawing of the Enclave lots showing the developer owned lots (in orange) as of the end of November.

Normal 01-30-2025 11:15 AM

Shadowed
 
Quote:

Originally Posted by kansasr (Post 2405735)
Just because the Enclave lots aren't listing on the Villages website at the moment, does not necessarily make them all sold. As of the end of November, according to the Lake County Property Appraiser, 34 of the 122 lots in the Enclave were still owned by the developer. Given how slowly these interior lots have been selling, I doubt all 34 have been sold since then.

Here's a drawing of the Enclave lots showing the developer owned lots (in orange) as of the end of November.

Almost every Florida builder is shadowing inventory right now.

Bill14564 01-30-2025 11:25 AM

Quote:

Originally Posted by kansasr (Post 2405735)
Just because the Enclave lots aren't listing on the Villages website at the moment, does not necessarily make them all sold. As of the end of November, according to the Lake County Property Appraiser, 34 of the 122 lots in the Enclave were still owned by the developer. Given how slowly these interior lots have been selling, I doubt all 34 have been sold since then.

Here's a drawing of the Enclave lots showing the developer owned lots (in orange) as of the end of November.

Does the Lake County Property Appraiser shows lots that all lots that are under contract (sold), all lots that have closed, or only those lots that the sales have been recorded?

kansasr 01-30-2025 11:39 AM

Quote:

Originally Posted by Bill14564 (Post 2405740)
Does the Lake County Property Appraiser shows lots that all lots that are under contract (sold), all lots that have closed, or only those lots that the sales have been recorded?

Just closed and the deed recorded. However, Lake County gets this done in a much more timely basis than Sumter. Based upon what I’ve seen, these lots are still not sold

Bill14564 01-30-2025 11:43 AM

Quote:

Originally Posted by kansasr (Post 2405749)
Just closed and the deed recorded. However, Lake County gets this done in a much more timely basis than Sumter. Based upon what I’ve seen, these lots are still not sold

So either the Developer is hiding them for some reason rather than selling them...

OR

... they are under contract, not available for sale, but not yet closed (perhaps not technically sold, but technically not available for sale to anyone else).

kansasr 01-30-2025 12:33 PM

Quote:

Originally Posted by Bill14564 (Post 2405750)
So either the Developer is hiding them for some reason rather than selling them...

OR

... they are under contract, not available for sale, but not yet closed (perhaps not technically sold, but technically not available for sale to anyone else).

I think #36 might be on to something....lots of developers holding back inventory at the moment. We've only been seeing 1 or 2 of the interior lots in The Enclave being sold each month, so I doubt that all of these have suddenly gone under contract.

Nana2Teddy 01-30-2025 01:25 PM

Quote:

Originally Posted by Pondboy (Post 2405525)
In Florida, a “Hammock” is a large stand of hardwood trees and palms that grow on slightly elevate land. The beautiful village of Hammock @ Fenney has such a feature, hence the name.

We are not “whining” about the development, you’re just reading the sensational headlines of an on-line local “National Enquirer”.

Thank you for correcting the name. It boggles my mind how many people call it Hammock of Fenney, even people who live there. And it’s not true that it’s far from Fenney as someone stated. It’s literally right next to Fenney Grill and the golf course. There’s so much misinformation stated here by people who have no clue about the southern areas. We don’t live in Fenney (we’re in Deluna), but we love it and go often to the grill and nature trail. The Fenney regional rec center is gorgeous too, with a family pool that feels like a luxury resort where you can have food and drinks served poolside.

Thank you for the info on how the name was chosen. We didn’t know about the hammock of hardwood and palm trees. Very cool!

Nana2Teddy 01-30-2025 01:33 PM

Quote:

Originally Posted by FloridaGuy66 (Post 2405597)
The Hammock of Fenney is adjacent to the Village of Fenney, how can something adjacent be far? Even the furthest part of the Village of Fenney from Hammock of Fenney is no more than 5 minutes away.

It’s Hammock AT Fenney. Not OF.

Nana2Teddy 01-30-2025 02:29 PM

Quote:

Originally Posted by asianthree (Post 2405517)
Our first visit in TV was the free for all buying of “07”, from 2010 until 2014, our first 3 homes we had 1 hour to take the home. Today It’s far more competitive for certain new Villages, than previously. So here is actual experience of how specs and lots now happening in TV.

The lottery as you are questioning, isn’t a lottery of sorts. Your VLS guy 24-48 hours receives a list of sites that will be released either a build lot or spec home. Every VLS agent has the same info to give to their potential buyers. Then the VLS agent has a list for each lot or home, with all of his clients that would like those properties. With over 350 VLS agents also have the same property and more or less potential buyers.

On the day of release at 0800 the sites go live. Up to 350 agents are clicking each property. By 0805 95% of all properties have anywhere from 1-2 names to over 40. Each agent can screenshot to their customer the list of where their name is.
So out of 15 build lots, we were 5th to 43rd on the list.

We were first on #16 lot release. Not the ideal lot, but checked off model fit, view lot, stretch 6’ front and back, room for small pool. What we didn’t get was lot stretch sides, no 3 car garage just a golf cart garage, larger lot for bigger pool.

After we wrote $10,000 check to lot #16, we continued on 5 more build lots that would have fit more of our needs. We were #2 on 3 lots, and #11 and above on the last 2. If we would have taken one of the last 5 lots we would have lost our $10,000 deposit on lot #16.

We tried 4 times for a veranda home in Richmond with no luck. We were #2 once, but #1 bought it. We then went to an open house in DeLuna for a veranda Mason and decided to buy it even though it didn’t check all of our boxes. Most, not all. We’re still happy two years later, and not the least bit tempted to move down to Eastport. We like being close to Brownwood, and an easy cart ride up to Lake Sumter Landing, but it’s also an easy cart ride to Eastport area. Plus we’re 5 minutes from the 301 turnpike onramp for Disney trips and other trips outside the bubble.

vintageogauge 01-30-2025 02:49 PM

There was no statement that Hammock is far from Fenney. It was stated that the Coleman development itself is pretty far from Fenney both west and south but it is right beside Hammock and that's why those homes are not going to sell very easily once construction begins.

asianthree 01-30-2025 05:58 PM

Quote:

Originally Posted by Nana2Teddy (Post 2405792)
We tried 4 times for a veranda home in Richmond with no luck. We were #2 once, but #1 bought it. We then went to an open house in DeLuna for a veranda Mason and decided to buy it even though it didn’t check all of our boxes. Most, not all. We’re still happy two years later, and not the least bit tempted to move down to Eastport. We like being close to Brownwood, and an easy cart ride up to Lake Sumter Landing, but it’s also an easy cart ride to Eastport area. Plus we’re 5 minutes from the 301 turnpike onramp for Disney trips and other trips outside the bubble.

We rented in 2007, then bought in Pennacamp in 2010, Fernandina in 2012, Designer in 2014, and built Premier in 2022. While this house fits our lifestyle for now, things are always changing.

We have zero attachment to any house in TV, always can be something down the road. We do travel north during summers to our family home, and the Lake house, to boat and swim in a lake that nothing tries to eat you:a040:


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