[DonnaNi4os]

Originally Posted by Robbb

I just read online the stock market decline this year has taken 17 trillion out of the economy, in addition todays 30 year mortgage rate is 7.5%+ yet dozens of new homes are being sold every day in the Villages. I am financially very secure but no way am I going to drop 500K on a house in this market. I just don't get it.

If you come from up north chances are you got a great price for the house you sold up there. Add to that, low property taxes, no state income tax…makes moving here a great idea regardless of the stock market.

[ithos]

Based on a search on The Villages website for Patio Villas in Brownwood, I would say the demand on the low end is still pretty strong in at least some areas. The cheapest price was well above $300K.

Of course not so long ago there would never be a Patio Villa online.

[Albany]

Originally Posted by retiredguy123

I think you can sell the house, but, if you make a profit after paying the real estate commission and any upgrades, the profit reverts back to the developer. That has been the policy for many years.

The no rental agreement is a relatively new policy.

Well I sold a house in 2015 and made a wonderful profit and believe me not a dime reverted back to the developer. It's nonsensical on the face of it.

[Kenswing]

Originally Posted by Albany

Well I sold a house in 2015 and made a wonderful profit and believe me not a dime reverted back to the developer. It's nonsensical on the face of it.

Was it a new house and did you sell it within the first year of ownership? It states in our sales documents that if we were to sell within the first year all profits above selling and upgrade costs go to the Developer. It's to discourage flippers.

[Albany]

Originally Posted by Kenswing

Was it a new house and did you sell it within the first year of ownership? It states in our sales documents that if we were to sell within the first year all profits above selling and upgrade costs go to the Developer. It's to discourage flippers.

No, 3 years. And yes it was a new house.

[Laker14]

Originally Posted by frose

don't care about lifestyle, just want to sell my house and go back to family

on August 3rd you posted that you had closed on a new house in North Carolina and that your TV home was on the market.
Do you have a closing date for your sale?

[frose]

i closed in nc last week am putting house here up here this week after storm open house this saturday..

[JMintzer]

Originally Posted by frose

don't care about lifestyle, just want to sell my house and go back to family

If you price it correctly, it'll sell quickly. If you're trying to make a killing after 15 months, good luck with that...

[JMintzer]

Originally Posted by Albany

No, 3 years. And yes it was a new house.

3 years? The the "sell it in the first year" rule does not apply...

[joelfmi]

Not after this hurricane. You are dreaming if you believe price will not drop.

[MrFlorida]

This is a resort, prices will always be high. It's the lifestyle, not the house.

[DAVES]

Originally Posted by Robbb

I just read online the stock market decline this year has taken 17 trillion out of the economy, in addition todays 30 year mortgage rate is 7.5%+ yet dozens of new homes are being sold every day in the Villages. I am financially very secure but no way am I going to drop 500K on a house in this market. I just don't get it.

Freedom of choice. We sold our PAID for NY, home roughly ten years ago we lived in the house for 40 years and sold it for 8x what we paid for it. That is if you do not realize that based on mortgage rates we paid roughly 3x the agreed contract price. Aside, my parents bought their home in 1965. It was roughly twice as big as what we bought and when deciding how much of a down payment I put down what they paid for their home.

We bought our home in the villages roughly 9 years ago. What we got for our previous home was enough to pay cash for this place with a fair amount left over. We took out a mortgage on this place and I invested the money in the tock market a wise move though many thought, think I am nuts. Hindsight-mortgage cost us 3.2% and this is the first year that I've lost money in the stock market.
It is not just the fact that the S&P is down roughly 18% year to date but the inflation rate CPI was 9.1% and is now 8.5%. I'm not looking to sell. We paid quite a bit. I never expected this home to go up. Was I to sell I would get almost twice what we paid for it.

What will the future be? Truth I dare to declare-I DON'T KNOW.

Teasing but serious. Before moving to the villages I became aware of a 15 acre
island off North Carolina with a nice home and a small herd of wild horses.
It was priced at ONE MILLION. Your own KINGDOM. Go figure it was vetoed by the Queen.

As have a friend, he is normal, he bought 180 acres in the backwoods of N.Carolina with his brother. They do have public electricity and water.
Last I heard they were planing on building a water wheel and a generator on their stream.

I assume you are retired. We all went through it at about 16-17 what am I going to do with my life. You go through it again when you retire. You are free from the 9-5 ok in my case 8-7. WHAT DO YOU CHOSE TO DO, WHAT DOES IT COST AND CAN YOU AFFORD TO DO IT.

[Boston-Sean]

Originally Posted by spinner1001

It fits on a small USB drive in your pocket when in bitcoin.

If you can remember 12 words you can keep it in your head.

[DAVES]

Originally Posted by FredJacobs

According to the TV metro statistics, more than half the buyers of homes pay cash without getting a mortgage. Think about it - you have been living in the same house for 40 years and it has appreciated to as high as 10 times your purchase price. Now you have this cash and move to TV. Assuming your IRA's and 401-K's are are fully funded, it makes sense to pay cash and not go through the hassle of a mortgage or pay interest - especially when you can't deduct it on your taxes because you don't qualify for itemized deductions.

Your post is close to my/our reality. We lived in the same house for roughly 40 years and got 8-9x what we paid for it-the contract price. However due to MORTGAGE RATE we paid roughly 3x the contract price. INFLATION-I have ONE POUND coffee cans full of screws and that sort of stuff. It was a full pound not like 12 ounces and they are marked ninty-nine cents. I looked at other stuff jeans, shoes, cars most everthing except electronic stuff has gone up the same 8-9x.

IRAs, the rude shock. Yes, I put the money in and it was pretaxed money. When, you take that money out, or are forced to take it out, it is not taxed as long term gains it is taxed as regular income.

We all need to do what we need to do. For me, things are pretty good. We all want. No one wants to pay. I was an overnight success. It only took me 45 years of hard work and investing

[ithos]

Originally Posted by Boston-Sean

If you can remember 12 words you can keep it in your head.

There are many horror stories of how people have lost control of their bitcoin.

9 easy ways to lose your cryptocurrency
https://i.redd.it/ly0ohp9d0k231.jpg

It is way too risky for the average person. Also the transactions are very expensive if you use an exchange. And if it fails you will probably lose everything.

It should only be used by HODLers and criminals.