Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#31
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#32
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In the North it’s a sellers market because most home owners are sitting on low interest rate loans on homes that have appreciated in value the last few years and with low(or non existent) home inventory it’s a sellers market there. So those people are able to bring cash to a suppliers market here.
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#33
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She has put the brakes on buying. The market is showing her that prices are coming down. Overpaying for a home may lead to the same trouble sellers are now experiencing. She wants to avoid having to sell at a loss if the need arises. The days of "We'll just buy now . If we don't like it, we can easily sell in one year." Are gone! Today, a buyer has to be knowledgeable and careful. Or, they may be stuck with a home they cannot sell. Last edited by margaretmattson; 03-25-2024 at 06:01 PM. |
#34
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#35
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This shocked us, at first. But, we see this is happening often. My daughter is taking her time to learn the market. She doesn't want to buy in a needless rush only to regret it. There are thousands of homes available in the Villages. She is willing to take her time. It is very unlikely an agent is going to convince her to buy a home $200,000 above current market pricing. I believe MOST BUYERS would also walk away. Last edited by margaretmattson; 03-25-2024 at 06:31 PM. |
#36
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Margarett, bless your heart. If you read the post I quoted they said it was a buyers market "in other states". My post was a response to that and not about the market in the Villages at all.
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#37
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#38
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Okay now that I love these realty threads, and I have a few cocktails in me I'm gonna post an OPINION.
It's my OPINION and no need to fight me on if I'm right or wrong. I could absolutely be 100% wrong. But the market crash people are waiting for isn't happening. Sorry, it's not. This is not 2008. There are not a bunch of sub prime mortgages. What we have is a crappy interest rate compared to ridiculously low interest rates a few years ago. Things have slowed a tiny bit because people are hoping that the drop will happen. Nope, not what I'm seeing. People are now starting to see this is the new normal. Rates at 7 aren't the end of the world. Waiting for the crash may be a losing endeavor. Some of us remember interest rates in the high teens. If you see where you want to live, buy now. I think it's actually a benefit that TV is selling bare bones but allowing some stretches. You can't make your house bigger but you can always add crown molding. So buy the cheap spec home, add the square footage you can and pay a contractor less for the upgrades. You'll make a killing on resale. If the crash happens, wait. Real estate is like the weather in Massachusetts. If you don't like it now, wait an hour. |
#39
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#40
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I understood your post. I was emphasizing the market in the Villages is different. There are an abundance of homes to choose from with many sitting for months. Retired, out-of-state homeowners cannot buy in the Villages because they are having difficulties unloading their homes. Kinda like a cause and effect scenario.
Last edited by margaretmattson; 03-25-2024 at 09:34 PM. |
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#42
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Yes, new homes have bare minimum upgrades. Even premiere homes. They are now designer homes with pools and a view. No larger rooms or additions like the older versions.
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#43
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My advice is to keep things simple. Pay close attention to the color of cabinets and floors. The more neutral; the better. Example: White cabinets- oak-colored floors. Perfect! Buying a home with unique colors will be difficult to sell. Paint your walls the same color throughout. A light shade will make the rooms appear bigger. Keep landscaping minimal. Most people hate to take care of high maintenance lawns. Do not add a built-in. Turning your 3rd bedroom into a permanent office will reduce the amount of interested buyers. If your plans are to make money on a home, you do not have to spend a lot on upgrades. Upgrades are not a guarantee that you will make more money on the resale. |
#44
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Big savings are on the way for realtor "fees."
The 6% commission, a standard in home purchase transactions, is no more. For the average-priced American home for sale — $417,000 — sellers are paying more than $25,000 in brokerage fees. Those costs are passed on to the buyer, boosting the price of homes in America. That fee could fall by between $6,000 and $12,000, according to TD Cowen Insights’ analysis. The agreement effectively will destroy the current homebuying and selling business model, in which sellers pay both their broker and a buyer’s broker, which critics say have driven housing prices artificially higher. By some estimates, real estate commissions are expected to fall 25% to 50%, according to TD Cowen Insights. This will open up opportunities for alternative models of selling real estate that already exist but don’t have much market share, including flat-fee and discount brokerages. ok |
#45
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