Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#1
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I just read an article called Homes: About to get much cheaper... on cnn.com in their money section. It says housing prices will continue to fall until mid 2010. The fall is expected on average to be an additional 11% and up to 27% in some areas.
I think homes in the villages are somewhat immune to the housing bubble but I do think they are still dropping. Will they drop another 11% by mid summer? What do you think? |
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#2
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no...gn
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Village of Belvedere ![]() |
#3
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New homes no. You still have the opportunity to negotiate with pre-owned. A Realtor I talked to at the pool last week told me she'd had the best Sep she'd ever had selling 6 new & 1 pre-owned home.
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#4
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Some resale villas seem to selling in a matter of days.... Since most speculators could not purchase much in TV due to the 80/20 rule, I think this kept the prices from rising to the degree they did elsewhere in Florida - and what doesn't go up as much (hopefully) doesn't go down as much..
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Holyoke, Mass; East Granby, Monroe, Madison and Branford, Conn; Port Clyde, Maine; North Myrtle Beach, SC; The Village of Bonita (April 2009 - ) |
#5
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I agree about the prices leveling out and starting to rise again in TV. I'd be shocked to see another 11% decrease. Markets in other parts of the country are still quite volatile. Speculators and second, or more, home owners are getting strapped for cash as their companies and investments struggle. If you're going to worry about it too much, perhaps you shouldn't do it.
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I have the simplest of tastes; I only like the best. Oscar Wilde |
#6
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I think that ship has sailed.In a village of 150 homes only one for sale and their asking top dollar.
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#7
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Lyle Gant is a local Realtor and a member of this forum. His website has a lot of information.
This is one of his pages: http://www.lylesellsfla.com/The_Vill...n_houses.shtml In The Villages section, click on the Villages Market Analysis 6/09 link. The data is only through June 2009, but the yellow Average Sales Price trend is upward. |
#8
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According to Zillow, my house in TV has gone up slightly in value since I bought it 4 1/2 years ago. Recently (last 30 days) it's up 1%. It seems there is a slight upward trend in the Zillow price chart recently. (of course, there was a HUGE bubble between then and now that has disappeared). It was never worth less than what I paid (again, per zillow.com)
But it doesn't matter to me as I have no immediate or even distant plans to sell. If the home you are selling and the home you are buying are both moving in the same direction, it almost doesn't matter when you sell/buy. If TV prices are trending up, and your old home is trending down, it may make sense (if it's possible) to buy in TV and sell the old home when it has trended up. Personally, unless you're speculating and wish to sell your TV home anytime soon, I'd say now is a good time to buy. |
#9
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We did buy last week!...Even if the value does decrease, we're still happy we did it.
Future Duvalians, Phil and Pat |
#10
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Will TV's prices drop like some general statement, in some article, on some website, predicts will happen overall?
Maybe? Maybe not? Could prices go lower?.......... Sure they could. Will prices bubble around at a relatively flat spot for a while?........ Possibly. Even probably. Will prices suddenly spike?.......... I don't think so. But the generalities can't really be applied to TV anyway. It is unique. And there is a nuance in the retirement home market that does not exist in other markets. That’s where the potential buyers who are considering a second home come in. And it is possible that second home sales have slowed more than the primary residence market in TV. Snowbirds may be buying in at the less expensive end, more often than they were a few years ago when they felt like they could easily sell if they decided they wanted to. Or they may just be taking their time with the decision to buy a second home. Those second home stats factor into retirement markets but nowhere else. Numbers are still numbers, I know. But even so, the second home buyers have to be a factor, in addition to those who are taking longer to sell and move to TV full time. Instead of putting too much thought into all those stats that are flung around by a media with too much space to fill, I think potential buyers of retirement homes need to look first at what they can do and what they want to do. And once you know TV is it, now is probably as good a time as any. Not because you think prices are at their lowest. Not because you think you can flip the house. Not because you think there is going to be some big spike in real estate. But because you have done your homework and asked yourself a lot of questions and you know that you are a ready, willing, and able buyer who wants to live in TV. Once you know you have found the place you are pretty darned sure you want to call home....or second home....at this point in life, crunch your own numbers and then do it if you can. I think that’s the real bottom line in today's real estate for retirement. Boomer Last edited by Boomer; 10-22-2009 at 08:25 PM. |
#11
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Holyoke, Mass; East Granby, Monroe, Madison and Branford, Conn; Port Clyde, Maine; North Myrtle Beach, SC; The Village of Bonita (April 2009 - ) |
#12
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I thoroughly agree with your statement. After staying a month in the Villages we knew we would move and do everything possible to sell our house. People here in our retirement community thought you are crazy thinking you will sell your house fast and move. Our reply was, "watch us, we are going to TV for we are not getting any younger and this is where we belong". Priced it low right from the start and sold it two weeks later. We are awaiting the closing. We are just going to find the house that is right for us and not start worrying if we got the lowest price that we could possibly get but just say, "hey, it was a good deal for both parties". That is what happened to us. The buyer and us the sellers hugged an enjoyed an hour of talking and laughing over some wine. Win, win situation!
How many quality years do we all have left???? Our motto is "WE ARE RETIRED....OUR JOB IS HAVING FUN" Looking forward to a lot of fun in TV!!
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BARBARA |
#13
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TV is unique as we've all experienced. Prices may fluctuate some; however, I feel this is a solid place to be. People want to buy into this lifestyle; and remember, they can chose how much they want to do or not do.
There is a freedom here I haven't experienced elsewhere. I know some people think we stick our heads in the sand.........but I for one love to come down and just get away from all the news in Washington and elsewhere that I don't seem to be able to excape while I'm up North. Happy Snowbird..........took us a while but we're here. |
#14
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Will prices drop?
No way to know, but, if my wife is right, and the current 'recovery' turns out to be a 'dead cat bounce' and the economy starts to tank again next year, prices could drop. We're trying to sell our home in DC next summer and buy in TV, and sales have increased around here, but prices have more or less stabilized, they haven't gone up. I expect this will be the case next year as well.
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"The difference between genius and stupidity is that genius has its limits."<br /><br />Albert Einstein |
#15
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The $8k tax credit has the housing market moving again. Can the numbers continue? One economist predicted that by 2011, 50% of the mortages in the country will be "under water". Does not sound good for selling house up north.
Everyone needs to look closely at their financial situation and make a rational decision not an emotional one. LIFE IS SHORT BUT YOU NEED ENOUGH MONEY TO GET TO THE END |
Closed Thread |
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