[Two Bills]

If you are selling for less, you will buy for less.
Our greatest property coup was selling a home definitely below what we had hoped for, but buying another, that at the height of the market, we would never have looked at, let alone afforded. The seller was more desperate to move than we had been.
Job relocation can be a bitch at times.
Went up three rungs on the property ladder in one hit.
There is always a deal somewhere!

[Snakster66]

Originally Posted by Two Bills

There is always a deal somewhere!

Truer words were never written.

[Randall55]

Originally Posted by MX rider

I think it really depends on the reason someone is buying. If you're buying here to live, find a home you like at a price you feel is fair and enjoy the years you have left.
Why wait?

Unless you plan on reselling soon, who cares what the home values do? Just like the stock market, they go up and down. And just like stocks, you haven't lost a dime unless you sell.


If interest rates go down, the market will heat up again imo. Then prices will head the other direction. But really, nobody knows for sure.

We sold our home in the Villages for a profit. We are now renting in the Villages. Our social security checks cover all of our expenses and we are enjoying a no maintenance life. The money we made on our home is earning nice interest. There is no reason for us to rush into another home. If there is a deal out there, hopefully, we will find it. We feel most comfortable in a home that will gain equity quickly. Model and location is not that important. Just our preference. And so, we will wait until the right opportunity comes along. We are not missing out on anything.

[tophcfa]

Originally Posted by CarlR33

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.

The North is definitely a sellers market. This winter three homes in our Village came on the market that we checked out (open houses) out of curiosity. We were shocked at the asking prices but hoped they sold as that would reflect our homes value. All three sold within a couple weeks at or above asking price, meaning our home has doubled in value over 8+ years. I suspect they sold so fast for several reasons, including the following:

Limited supply in the area.
Relatively reasonable price point compared to alternative areas.
Very low to no bond.
Newer roofs and A/C units.
Surrounded by lots and lots of both Championship and Executive golf in an area where the courses are in very good condition.
Location within 10 minutes by golf cart to 2 town squares.
Close golf cart accessibility to a wide variety of both dinning and shopping.
Beautiful mature landscaping.

The only downside is that will give the tax accessor an excuse to jack up our property taxes.

[ChrisTee]

The low mortgage rates were big drivers of housing inflation. Where are mortgage rates now? What do you think happens to housing if we have any type of recession (small or large you know where housing prices will likely go). Case-Schiller shows we've had decreases in housing prices over the past 2 months - before that, historically, the US had the biggest run up in housing prices over just a few years. Many homes across the US (not just The Villages) increased 40-100% in equity over the past 2.5 years. They may drop just as quickly (or not). Regardless I don't want low mortgage rates financed by savers like myself. I don't think I'm wealthier because my home is worth more now - I'm poorer due to inflation.The dollar buys FAR less today than it did 4 years ago. 20% less.

[OrangeBlossomBaby]

Originally Posted by Randall55

We sold our home in the Villages for a profit. We are now renting in the Villages. Our social security checks cover all of our expenses and we are enjoying a no maintenance life. The money we made on our home is earning nice interest. There is no reason for us to rush into another home. If there is a deal out there, hopefully, we will find it. We feel most comfortable in a home that will gain equity quickly. Model and location is not that important. Just our preference. And so, we will wait until the right opportunity comes along. We are not missing out on anything.

It's all good until the landlord raises the rent. Or dies, and the kids abandon it to the bank. Or sells it to a flipper who chooses not to renew your lease next year. Or any other of a number of things that can happen to tenants in senior community homes that belong to someone else.

[Altavia]

LOL - 150 homes sold last week, the sky is falling...

[margaretmattson]

Originally Posted by OrangeBlossomBaby

It's all good until the landlord raises the rent. Or dies, and the kids abandon it to the bank. Or sells it to a flipper who chooses not to renew your lease next year. Or any other of a number of things that can happen to tenants in senior community homes that belong to someone else.

There are over 1500 rental properties listed on one site in the Villages. Many Villagers are starting to take that route instead of buying. Lose a lease on one, plenty of others.

[margaretmattson]

Originally Posted by Altavia

LOL - 150 homes sold last week, the sky is falling...

Buyers are rushing to be the first to buy in the Eastport area. It is a large community! One localized area seeing great sales does not mean all real estate is booming. Try telling homeowners who have had their homes sitting on the market for months with large price reductions, "The SKY IS NOT FALLING." I believe they will disagree.

There is only one winner and that is the developer. So, give a hand clap to him but don't make snarky comments about those who are not living the dream. Selling their homes has become a nightmare for some. I personally know quite a few.

Btw: Have you looked at new home prices? The cost is DOWN in Moultrie Creek. Even lower in Dabney. Maybe this is the reason there is a surge in sales? How do you think this will affect the price of your home? What if the Developer slashes the price of HUNDREDS of homes while you are in a NEED to sell predicament? Will you still feel secure everything is sunny and bright in the Villages?

On MLS and VLS combined, there were 982 preowned homes for sale. 92 of them sold this week. I am certain that percentage makes the owners of the 890 NOT SOLD thrilled! The number sold will easily be replaced by new preowned homes in a few days. Are you seeing great numbers here? Or, are you just interested in keeping tally of the Developer's good fortune?

[Normal]

Originally Posted by Altavia

LOL - 150 homes sold last week, the sky is falling...

At what prices? Reduced in most cases I’m sure.

[Jayhawk]

Originally Posted by margaretmattson

On MLS and VLS combined, there were 982 preowned homes for sale. 92 of them sold this week. I am certain that percentage makes the owners of the 890 NOT SOLD thrilled! The number sold will easily be replaced by new preowned homes in a few days. Are you seeing great numbers here? Or, are you just interested in keeping tally of the Developer's good fortune?

So almost 10% of the resale inventory (now of which were owned by the developer) closed last WEEK. That means it is a10 week rolling inventory average, which is considered very healthy in the real estate business.

People need to stop trying to turn facts into negative made-up commentary.

[margaretmattson]

Originally Posted by Jayhawk

So almost 10% of the resale inventory (now of which were owned by the developer) closed last WEEK. That means it is a10 week rolling inventory average, which is considered very healthy in the real estate business.

People need to stop trying to turn facts into negative made-up commentary.

It is only negative made up commentary IF the homes sold were at asking price. Drastic reductions are across the board.

One poster felt the developer selling 150 homes is great news! It would be better news if preowned homes were selling the same amount. I guess you are not one of homeowners who have seen their homes sitting on the market for months with a large price reduction. A healthy market is in the eyes of the beholder. I was merely trying to show ALL are not happy with the real estate market. For many, the sky is indeed falling!

BTW: sales in one week in peak season cannot be used to come up with an overall average. You have to consider all the sales in a larger time period than ONE WEEK AT PEAK. If mine is negative made up commentary, SO IS YOURS.

It comes down to this, some of us see a downward price trend and some do not. I believe 10% sales at peak is weak. You believe it is healthy. Only time will tell which side is correct. Until then, let's just agree to disagree. It's all good!

[CoachKandSportsguy]

Originally Posted by Snakster66

As someone who is currently looking in the resell market, this is great advice. In particular:

landscaping...when I see a house with many bushes and hedges, my only thought is "how much will it cost me to rip all of that out and replace with something lower maintenance?"

Built-ins...People seem to love built-ins down there, but they are a major turn-off to me as a buyer (I can only speak for myself and won't generalize for the buyer market). Even though I plan to use a room as a home office, I still am turned off by a huge built-in desk/cabinet/murphy bed monstrosity in a room. I want to maintain flexibility down the road. And that means not having to tear out a built-in after I formally retire.

The places that attract us (me and wife) the most are blank slates where we can project our vision, not places where we first have to imagine getting rid of a bunch of things before we can imagine how we can implement a vision.

Buying a resale for your preferences is buying a flip. I am not going to live in a house for 10-20 years and not design it the way I want to live in it, so yes, built ins, landscaping, definately not living for 20 years in a blank slate so that it can sell easily after i am dead.

mismatched reality to desired preferences here.

[Randall55]

Originally Posted by CoachKandSportsguy

Buying a resale for your preferences is buying a flip. I am not going to live in a house for 10-20 years and not design it the way I want to live in it, so yes, built ins, landscaping, definately not living for 20 years in a blank slate so that it can sell easily after i am dead.

mismatched reality to desired preferences here.

Agree. Everyone should live their life to the fullest as they see fit. My advice was given after a poster stated- increase your square footage, do major upgrades after closing AND YOU WILL MAKE KILLING as a resale. As a flipper, I know this is not true. The best advice I could give to someone who wants to make a profit on their home within a year or so is to keep the home simple. Major upgrades DO NOT guarantee you will make more money. Simple things like epoxy the garage, paint the interior a neutral light shade, better light fixtures, nice back splash, and garage cabinets will go much further in the resale market than an expensive remodel. You can easily find a buyer who will pay EXTRA for the convenience of having simple things completed before moving in. The BETER CHOICES YOU MAKE when completing these projects, the more you will make. You have to know the current design trends. Do not simply choose colors you love. The buyer of your home will happily make their choice of major upgrades once settled in.

[vintageogauge]

Asking prices vary based on location, lot, extras, etc. You can buy a brand new Topaz patio villa right now for $250,00 or you can buy one right now for $325,000. Compare the two and you will see that you get what you pay for.