[sallyg]

I don't think home prices will ever come down in the Villages. If you want to buy, better do it sooner than later.

[Remlod]

That’s not new. I tried to buy a new house to rent last October and was told the only way I could put in an offer on a new home in the TV was to list my current home with TV real estate arm.
Had to buy a preowned.

[Laurel Maryland]

Hello RetiredGuy123, we don't fit it in our pockets, we stuff it in our bras and you guys fall for it.

[Vermilion Villager]

Originally Posted by Altavia

So you can't verify your no rentals comment...

There have been other posts where people have produced pictures of the declarations and covenants showing the no renter policy, so yes it does exist.

[Vermilion Villager]

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.

Morning civics lesson. The reason there is inflation is there is so much money out there people are willing to pay higher prices hence in a free market society businesses charge more… That pushes up prices and that is called inflation. When I retired in 2009 the stock market was at 9000. Now even after it taking a massive hit it's close to 30,000 down from a high of 37,000. The money I have made from 2009 until today is not my money… It is gains that were earned on my money. When I lived in Nevada we used to call it playing with the house's money. Bottom line there is literally trillions of dollars out there in the economy and a lot of people who want to relocate to the villages have it. It's always been this way, and the prices go down but they don't go down nearly what they do in the rest of the country, and when they go up they go up higher than they do in the rest of the country. Welcome to The Villages!

[maistocars]

Demand fuels prices. We have what everybody wants and there is no shortage of 55+ folks looking to move from the North and Northwest/CA.

[Stu from NYC]

Originally Posted by Laurel Maryland

Hello RetiredGuy123, we don't fit it in our pockets, we stuff it in our bras and you guys fall for it.

For awhile but eventually all of your assets will come forward

[joelfmi]

smart choice, what goes up will come down you will see this with housing costs.

[retiredguy123]

Originally Posted by Altavia

So you can't verify your no rentals comment...

After speaking with an expert, I found out that, about a year ago, the developer instructed agents to discourage investors from buying new houses. It was not a written agreement, but, in some cases, they would not sell a house to someone who already owned multiple houses in The Villages, or who openly expressed the intent to buy a house as a rental investment. This policy has recently been discontinued because the market has slowed down. It may seem strange, but, apparently the developer feels that they can control who is able to purchase the new houses. In some cases, a group of houses would be released for sale, and they were immediately purchased by investors. So, I can understand the policy.

[rustyp]

$250K 30 year fixed rate mortgage:

Dec 2021 - $1108/month
Today - $1748/month
2023 projection - $2193/month

I think I can predict what will happen to house prices !

[dewilson58]

There are plenty of retirees who planned for no mortgage at retirement.

Smart planning.

[dewilson58]

Originally Posted by retiredguy123

I heard the comment from a reliable source, but I am trying to verify it with the sales office.

Go get your hair done and come back with facts.

[retiredguy123]

Originally Posted by dewilson58

Go get your hair done and come back with facts.

See Post No. 69.

[Altavia]

Originally Posted by retiredguy123

After speaking with an expert, I found out that, about a year ago, the developer instructed agents to discourage investors from buying new houses. It was not a written agreement, but, in some cases, they would not sell a house to someone who already owned multiple houses in The Villages, or who openly expressed the intent to buy a house as a rental investment. This policy has recently been discontinued because the market has slowed down. It may seem strange, but, apparently the developer feels that they can control who is able to purchase the new houses. In some cases, a group of houses would be released for sale, and they were immediately purchased by investors. So, I can understand the policy.

Thank you!

[Velvet]

Originally Posted by joelfmi

smart choice, what goes up will come down you will see this with housing costs.

Only if it is under the control of gravity…