[Laker14]

Originally Posted by margaretmattson

A new home in the Villages is never negotiated. The price is the price. They will not waiver or ask more even if many buyers are interested in the same home.

Bidding wars can occur with preowned homes. If a seller has several buyers interested in his property, he/she will obviously take the highest offer.

Bidding wars do not happen with every home and are not indicative of a seller's market. It is one or a few homeowners who have a property that has plenty of buyer interest.

The last seller's market occurred when Covid lockdown and restrictions were lifted. As we all know, prices soared. We are now experiencing a softening of home prices. It is a cautionary market. Home prices can continue to decline or they can rise.

Well, thanks for the explanation. All of those dynamics I previously understood. I was taken aback by another's definition of a sellers market as one in which homes eventually sold for more than asking price. I can understand that may be an occurrence in an extreme sellers market, but would not have thought it a requirement of a sellers market.

From your explanations I'd take it you agree with me.

[margaretmattson]

Originally Posted by Laker14

Well, thanks for the explanation. All of those dynamics I previously understood. I was taken aback by another's definition of a sellers market as one in which homes eventually sold for more than asking price. I can understand that may be an occurrence in an extreme sellers market, but would not have thought it a requirement of a sellers market.

From your explanations I'd take it you agree with me.

Yes, I agree. Like you, I have advised my daughter to wait before purchasing a home in the Villages. 400+ available homes sitting in Dabney/Denham, 175+ available lots, 200+ new homes near completion in Moultrie Creek = one hell of an amount of inventory. I highly doubt prices are going to increase soon.

[Laker14]

Originally Posted by margaretmattson

Yes, I agree. Like you, I have advised my daughter to wait before purchasing a home in the Villages. 400+ available homes sitting in Dabney/Denham, 175+ available lots, 200+ new homes near completion in Moultrie Creek = one hell of an amount of inventory. I highly doubt prices are going to increase soon.

and you are just talking about new homes, right? Not including resales in your numbers?

[margaretmattson]

Originally Posted by Laker14

and you are just talking about new homes, right? Not including resales in your numbers?

Yes, just new homes. An additional 400+ preowned homes on MLS and I haven't counted the number on VLS. Probably in the same area. But, preowned homes historically have been in that range.

The high number of new homes available is alarming to me. I am not stating they will not sell. The inventory seems ridiculously high. Nearly 1/3 of the amount of homes sold last year are now sitting with little interest from buyers.

[Papa_lecki]

Originally Posted by margaretmattson

Yes, I agree. Like you, I have advised my daughter to wait before purchasing a home in the Villages. 400+ available homes sitting in Dabney/Denham, 175+ available lots, 200+ new homes near completion in Moultrie Creek = one hell of an amount of inventory. I highly doubt prices are going to increase soon.

I would have her look now. She will find a desperate seller with all the inventory and get a great price.
Don’t worry about interest rates, she can refinance.

[margaretmattson]

Originally Posted by Papa_lecki

I would have her look now. She will find a desperate seller with all the inventory and get a great price.
Don’t worry about interest rates, she can refinance.

If you pay $500,000 for a home but it is only worth $450,000 or less when you refinance, you are in a hole. A bank will not refinance a home for more than it is worth.

We are searching for that great deal you mentioned. Hard to find. It seems if you can find an inherited home, you can get a great deal. Some just want to unload it no matter the price. Unfortunately, the homes we found are in need of costly repairs and updates.

[Craig Vernon]

Originally Posted by margaretmattson

Yes, just new homes. An additional 400+ preowned homes on MLS and I haven't counted the number on VLS. Probably in the same area. But, preowned homes historically have been in that range. The high number of new homes available is alarming to me. (Not stating they will not sell, just seems ridiculously high. Nearly 1/3 of the amount of homes sold last year are now sitting with little interest from buyers)

There are 504 listings on VLS preowned and 439 new as of today 1-19-24.

[margaretmattson]

Originally Posted by Craig Vernon

There are 504 listings on VLS preowned and 439 new as of today 1-19-24.

Again, those numbers are not alarming to me. Old people die, get ill, go to assisted living, or become widowed. 1000 homes of 70,000 in the community is within a sensible margin. Historically, this has been the number of preowned homes available.

[HandyGrandpap]

Originally Posted by Craig Vernon

There are 504 listings on VLS preowned and 439 new as of today 1-19-24.

Craig, please advise how you obtain these numbers. I am not questioning the numbers, just want to be able to extract on my own. The MLS numbers I can get but not sure how to get the VLS.
Please advise, thank you

[margaretmattson]

Originally Posted by HandyGrandpap

Craig, please advise how you obtain these numbers. I am not questioning the numbers, just want to be able to extract on my own. The MLS numbers I can get but not sure how to get the VLS.
Please advise, thank you

Go to the VLS listings. In the upper right hand corner, there is a filter button. Select preowned homes only. Every preowned home available will be included in your search.

You can further filter the preowned homes by area, model, price range, and type of home site. This is a great way to do your own comparable search. Do not rely on your agent. I believe it is best to view what homes are selling for instead of being told. Lol..there are agents who will tell you home prices are not going down. Run away and don't look back!

[Craig Vernon]

Originally Posted by HandyGrandpap

Craig, please advise how you obtain these numbers. I am not questioning the numbers, just want to be able to extract on my own. The MLS numbers I can get but not sure how to get the VLS.
Please advise, thank you

I am counting them manually on the VLS site. The VLS used to show numbers of listings, but they stopped showing totals awhile back.

[Craig Vernon]

Originally Posted by HandyGrandpap

Craig, please advise how you obtain these numbers. I am not questioning the numbers, just want to be able to extract on my own. The MLS numbers I can get but not sure how to get the VLS.
Please advise, thank you

P.S. These are the numbers with the pending's removed.

[Normal]

380 listings this week of from 294 a year ago. Inventory issues where new homes available have outpaced pendings, it’s turning uglier by the day. Homes are sitting on the market longer, up from 58 to 60 days in a week while it was a little over 53 a year ago. The buggy though is new construction inventory outpacing pendings.

[Altavia]

Originally Posted by Normal

380 listings this week of from 294 a year ago. Inventory issues where new homes available have outpaced pendings, it’s turning uglier by the day. Homes are sitting on the market longer, up from 58 to 60 days in a week while it was a little over 53 a year ago. The buggy though is new construction inventory outpacing pendings.

Ironically, the board in the sales center showed 60+ new home closings the first week of Jan.

[vintageogauge]

Originally Posted by Craig Vernon

P.S. These are the numbers with the pending's removed.

Some of those pre-owned listings are also in family communities around The Villages.