Talk of The Villages Florida
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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/)
-   -   Flipping in The Villages (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/flipping-villages-106488/)

keithwand 02-28-2014 04:04 PM
Quote:
Originally Posted by manaboutown (Post 837005)
I am aware of the rule about new home purchases from the developer. It is a good rule.

Has anyone noticed speculators flipping homes in existing neighborhoods?
I will word it differently. 3 people (speculators) in my existing neighborhood sold their "existing or used" homes for a profit of 100K to 150K within a short period of time. These were not new homes from the developer but lived in just like in other older neighborhoods regardless of how old the homes are. The neighborhood is built out.
So yes these folks are speculators. 2 reinvested in more expensive homes which in essence starts the process over again and 1 took the cash and left TV.

JourneyOfLife 02-28-2014 04:42 PM
Flipping aside.

Real estate prices are increasing in many areas. Sellers should fetch improved prices.

Of course,if the home is a primary home, most people face increased prices when purchasing a replacement.

People might be seeing good opportunities to unload unwanted second homes they bought and no longer want.

Wing-nut2 02-28-2014 04:46 PM
What about a house listed by a realty other than TV? Does the rule still apply? I'd like to know just for myself. OK, the neighbor has a house for sale by owner.

TVMayor 02-28-2014 05:21 PM
Quote:
Originally Posted by manaboutown (Post 836968)
Has anybody noticed any flipping going on in your neighborhood, speculators buying houses only to sell them for a higher price within a short period of time?
Yes. North of 466.

Bonanza 02-28-2014 05:30 PM
Quote:
Originally Posted by Wing-nut2 (Post 837187)
What about a house listed by a realty other than TV? Does the rule still apply? I'd like to know just for myself. OK, the neighbor has a house for sale by owner.
If something is in the documents, regardless of who sells it, meaning a Villages agent, an outside Realtor or the homeowner himself,
you have to pay the fees.

Juliek 02-28-2014 05:47 PM
I was not aware, but we have been in ours only a few months.

asianthree 02-28-2014 06:08 PM
No penalty on renown. .flipping started in2007 for profit. .then came the one year rule on new homes

manaboutown 02-28-2014 06:36 PM
The reason I started this thread is I have recently noticed some houses in The Villages come up for sale at substantial markups from what they had sold for only a few months before. I do not know if they were renovated by the sellers and if so to what extent, if the sellers paid off the bonds after purchase, whether the sellers had ever moved in and did not like the house for some reason, or found a house more to their liking just after moving in or whether the homes were only opportunistically purchased to flip.

nitehawk 02-28-2014 07:59 PM
Quote:
Originally Posted by keithwand (Post 837003)
2 neighbors did sell theirs on an interior lot to build on the golf course right across the street and get extra square footage. Really not flipping. Both said it was enforced but any improvements can also be deducted. They made money on their resales.

1 neighbor also on an interior lot got a call from his realtor that he could sell his house for a $150k profit after his first year here so he listed it and got about 175k profit before closing costs. They decided to go back to their other home in MI. That will be a shock when they arrive tomorrow and it's minus something degrees!
i do not belive ....

JP 02-28-2014 11:00 PM
You might make a profit if you sell your house(I know I would) but if you wanted to stay in TV you would have to buy another house at an increased price so really you would only come out ahead if you decided to move out of TV.

keithwand 03-01-2014 11:45 AM
Quote:
Originally Posted by nitehawk (Post 837289)
i do not belive ....
You don't believe what?
Original buyer/ neighbor across the street-
Paid $442,000 6/2012
Sold $625,000 12/2013
OK a year and a half and $183,000 more than paid and new buyer assumed the bond.
Or you don't believe they would go back to MI?

jbdlfan 03-02-2014 09:02 AM
First of all, why in the world in a free market society would anyone sign an agreement that says you can't make a profit. So many people defend the developer in saying that THEY should be allowed to make money. So why not us? Secondly, who cares if people buy and sell for a profit? That makes my house more valuable. If it wasn't such a pain to move, I would sell today. If I did, bought my house in March of last year, I would walk away with about $35,000. We just don't have the time to go through the process again.


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