Originally Posted by Normal (Post 2291041)

If you are looking for an exact time, you would need data in retrospect. Since we don’t have that, you need to examine the market and its tendencies. The market IS by ALL indicators still trending downward. Why buy when in essence you are losing money?

Just look at the local market here! More than 70% of homes last month were purchased BELOW ASKING. Look at The Villages new home prices, or perhaps their lot prices. View lots in Moultrie are down 40%. It’s a buyers market officially this month.

Yes, if you just want to burn money, buy. If not, it may be best to wait till the bottom hits.

Examining forces on price are the key to determining local market values: Mortgage rates, building costs, inventory, regulation, future costs including annual taxes, location and comparable comps are the tip of the iceberg. They are influenced by the more macroeconomic engines such as treasury note pricing , hourly wages, shadowed property values, local annexations and even square footage pricing on pre owned homes.

Then there is the entire demand side which is changing constantly. Inflation has made higher prices unaffordable PARTICULARLY in the Villages. The purchasing demographic are or will be forecasted to retire on a median fixed income. The number has decreased for this group significantly as indicated by employment of those once retired but now forced to work.

RETIREMENT IS THE SINGLE LARGEST FINANCIAL MOVE IN LIFE, followed by…you guessed it, BUYING a HOME.

Originally Posted by MX rider (Post 2291111)

I agree with Laker14. Nobody really knows what the home market will do, same as the stock market. Unless you're flipping, who cares?

If you're newly retired and want a home, buy it. You could spend the rest of your life waiting for the " right time".
Tomorrow isn't guaranteed, and I've known too many people who never even made it to retirement. One of my best friends just lost his 45 year old daughter to cancer. Time isn't on our side.

Whats the point of waiting for anything at this point in our lives? Live for today. Worrying too much about the future at this point is fools gold, imo.

Luckily we bought our home 2 years ago and we just retired last fall. But when we did buy, we were less concerned with it being the "right time" and more concerned about finding the right home here in TV.

We could care less what our house is worth. We're too busy having fun, staying active and enjoying life here. Which is exactly how we planned to spend our retirement.

We're not well off, but financially we're fine. So we'll just continue on living the dream in this great community. All the things we can't control will take care of themselves.

Originally Posted by Normal (Post 2291041)

If you are looking for an exact time, you would need data in retrospect. Since we don’t have that, you need to examine the market and its tendencies. The market IS by ALL indicators still trending downward. Why buy when in essence you are losing money?

Just look at the local market here! More than 70% of homes last month were purchased BELOW ASKING. Look at The Villages new home prices, or perhaps their lot prices. View lots in Moultrie are down 40%. It’s a buyers market officially this month.

Yes, if you just want to burn money, buy. If not, it may be best to wait till the bottom hits.

Examining forces on price are the key to determining local market values: Mortgage rates, building costs, inventory, regulation, future costs including annual taxes, location and comparable comps are the tip of the iceberg. They are influenced by the more macroeconomic engines such as treasury note pricing , hourly wages, shadowed property values, local annexations and even square footage pricing on pre owned homes.

Then there is the entire demand side which is changing constantly. Inflation has made higher prices unaffordable PARTICULARLY in the Villages. The purchasing demographic are or will be forecasted to retire on a median fixed income. The number has decreased for this group significantly as indicated by employment of those once retired but now forced to work.

RETIREMENT IS THE SINGLE LARGEST FINANCIAL MOVE IN LIFE, followed by…you guessed it, BUYING a HOME.

Originally Posted by Randall55 (Post 2291135)

If you already have a home, I agree. If you have not retired and are still looking, it is a different story. The developer cannot keep building if his inventory is not moving. Does this mean he will sell some of his land to other builders? If so, what will be built? Or, will he just slow the pace? If he chooses this route, commercial will suffer. You can't open a store, restaurant, or medical facility if there are not enough customers. Will construction workers be forced to leave the area? This will harm the community, as well.

Or, will home prices go down to a level that brings buyers' interest? This means one can save a wad of money and enjoy a better retirement. More money in the bank makes living the dream much easier.

I get it. What I have stated are EXTREME cases. But, with hundreds of homes and lots sitting, what can the developer do? Keep building and go deeper into the red?

For those who have not bought a home, looking at other options or waiting is probably a good idea.

Originally Posted by Craig Vernon (Post 2290336)

I have been interested in TV for several years and have been keeping a tally of available homes on a weekly basis for more than two years. I know my life is exciting and I need a better hobby. Currently as of 1-12-24 homes available for sale have reached a higher level than I have ever recorded and is growing quickly. Zillow 443 total listings/VLS preowned 492/VLS new 445.

Originally Posted by MX rider (Post 2291111)

Tomorrow isn't guaranteed, and I've known too many people who never even made it to retirement.

We could care less what our house is worth. We're too busy having fun, staying active and enjoying life here. Which is exactly how we planned to spend our retirement.

We're not well off, but financially we're fine. So we'll just continue on living the dream in this great community.

Originally Posted by Aces4 (Post 2290899)

It appears your strategy works well for you but not everyone has unlimited funds so there are many areas in The Villages that work well for people within a budget.

Originally Posted by Normal (Post 2291147)

I concur for your situation. I certainly feel for your friends’ loss. But every situation is complicated and different.

What the OP and all potential buyers should know is it isn’t a cheap free windfall blissful move to just pick up and live here. Taxes on property can be fairly high. The cost of living in Florida rivals more than half the states in the US (ranked 21). Insurance and utilities are higher than most. The old fallacy of (No income tax) is certainly countered by many other expenses.

For you and I it is affordable, but some I know have to work just to stay here. They moved into the Villages retired, but now work to make ends meet. Magical fairy dust didn’t fall from the sky and bless them with gold paved roads. You can thank the economy for that.

We should all want everyone happy and satisfied when they move here just like we are. The reality is many can’t afford it and this is no financial promised land for those contemplating a financial decision without money to burn. If someone buys that can’t afford it later on, it weighs on all of us.

I hope the best for those still dreaming and hope their lives are filled with happiness wherever they move. Risking finances shouldn’t be anyone’s thought. If it is, please don’t buy here.

Originally Posted by Randall55 (Post 2290954)

Possibly. But new frame homes are also sitting. I received an updated list of new homes that have reduced prices. The count is now 200+. About a month ago, 75 new construction homes had a discounted price.

I agree with the posters on this thread. It is not a good to buy. It is anyone's guess what will happen in the next few months.

Originally Posted by asianthree (Post 2291167)

But are your thoughts about not a good time to buy because you are a contractor and flip houses?
You have bought and sold, and are now in a rental and isn’t your spouse in real estate?

So are views of not a good time to buy, for potential new buyers or as an investment buyer?

Originally Posted by asianthree (Post 2291167)

But are your thoughts about not a good time to buy because you are a contractor and flip houses?
You have bought and sold, and are now in a rental and isn’t your spouse in real estate?

So are views of not a good time to buy, for potential new buyers or as an investment buyer?

Originally Posted by Randall55 (Post 2291135)

If you already have a home, I agree. If you have not retired and are still looking, it is a different story. The developer cannot keep building if his inventory is not moving. Does this mean he will sell some of his land to other builders? If so, what will be built? Or, will he just slow the pace? If he chooses this route, commercial will suffer. You can't open a store, restaurant, or medical facility if there are not enough customers. Will construction workers be forced to leave the area? This will harm the community, as well.

Originally Posted by Papa_lecki (Post 2291493)

Another post that the Developer is not going to survive.
First, the developer bought most of the land when rates were at 2 or 3%.