[rrtjp]

The sales pitch we got when we bought here was “you are not buying a house, you are buying a life style “.
We do love it here and feel very fortunate to be able to call The Villages home.

[Rainger99]

Has the no rental clause been verified?

If the rumor is true, I would think it would impact prices as it would reduce demand.

But it might be tough to enforce. People would just say they have “friends” staying there.

What would the snowbirds do?

And what about the developer’s rental division - The Villages Hometown Property Management?

[Bobendres]

Some fresh data
- resale days on market in April was 5 days
- Today it’s 25 days.
We are waiting because the choices are growing rapidly

[Pila0431]

Don’t you know anything they do is legal, it’s Morse law!!

[rsmurano]

Supply and demand. Thousands of people are fleeing nyc/California/Chicago and other cities and states to florida everyday and they have to live somewhere. If you are going to pay cash for the house, high interest rates are in your favor, it makes it a more buyers market since high interest rates eliminate a lot of buyers that have to get a loan

[Rwirish]

Heck, people by homes here without ever seeing the house or lot.

[Papa_lecki]

Originally Posted by Altavia

How is this stated in the contract?

It would be a deed restriction, not in the sales contract.

I would not be surprised if certain villages have short term rental limits. It would be a quality of life item for neighbors.

Some towns made short term (i.e. Air BNB) rental illegal. Long term, annual leases, are fine. The one that comes to mind is Coronado, CA, they aggressively prosecute those who violate.

[gweisheipl]

It’s due to demand! If demand drops prices will drop. If demand holds steady, prices hold steady or increase. There are 77 million baby boomers. If only a small percentage of them want to move to Florida, that is a huge number of people.

[Iowabuddy]

Any evidence to support that?

[gettingby]

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.

Buying houses is about the best way to offset inflation. Houses benefit from inflation were I have zero control of the stock market.

[Jayhawk]

Originally Posted by retiredguy123

The no rental agreement is a relatively new policy.

I suspect it is more directed to buyers who state on their mortgage applications that the property will be owner-occupied when in fact renting is the plan. Interest rates and down payments are higher on rentals but some buyers cheat and lie about it. Then when Fannie Mae buys the loan, the lender-bank is on the hook for borrower fraud. Look at your mortgage docs. It's all right there.

[Djean1981]

I believe the housing decline is mainly occurring in certain areas. Many states have lost residents.

[Wilson02852]

It's easy if you've investigate the history of village real-estate. It didn’t drop in last economy slow down a few years ago. People "want" to live here.

[ithos]

Originally Posted by Bobendres

Some fresh data
- resale days on market in April was 5 days
- Today it’s 25 days.
We are waiting because the choices are growing rapidly

Was that number for The Villages? Preowned or new?

[spinner1001]

Originally Posted by retiredguy123

Not true. $500K in 100 dollar bills would be a stack of bills 21.5 inches high. How would anyone from the Northeast fit that into their pocket?

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