[Robbb]

I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.

[billethkid]

Originally Posted by Robbb

I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.

They are.....and have been!

[Dana1963]

Originally Posted by Robbb

I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.

We went thru this B4 2001 to 2007 housing bubble. It's not only happening here.

[Bogie Shooter]

Originally Posted by Robbb

I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.

Isn’t it happening where you are now?

[davem4616]

$345 to $700 in under a year???

I wonder if it is the exact same house

that said, it certainly appears to be a sellers market

[Bilyclub]

Originally Posted by Robbb

I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.

Please post the address.

[Robbb]

5746 Landon Ave, sold April 2021 346K listed at 697,500 now, they may have added a pool, but still a 101% increase in 9 months. The crazy thing about it is, that it will probably sell in 15 minutes.

[billethkid]

Originally Posted by davem4616

$345 to $700 in under a year???

I wonder if it is the exact same house

that said, it certainly appears to be a sellers market

Yes as long as one does not have to buy another property as the advantage will be absorbed by the escalated price of the new property!!

[Bilyclub]

Originally Posted by Robbb

5746 Landon Ave, sold April 2021 346K listed at 697,500 now, they may have added a pool, but still a 101% increase in 9 months. The crazy thing about it is, that it will probably sell in 15 minutes.

I though all buyers had to sign a legal document stating they would not sell their house for a year.

Owner's Name PAN AMERICAN PROPERTIES INC
Site Address 5746 LANDON AVE, THE VILLAGES, FL 32163
Mail Address 17 UNION RD RTE 221, C1E 3B2, FC


The Villages is also the lister. Looks like some sort of flipping?

[rustyp]

Originally Posted by Robbb

I am looking for a home in the Villages but am getting very discouraged over the very recent increase in prices, are these for real?. I looked at a home this morning that sold for 345K in April, today it listed at 700K, this is insanity. I can't believe people are really buying this stuff.

Insanity is the real estate commission. At 6% in April it was $20700. 9 months latter the same house commission is $42000. According to some sources people are standing in line to buy houses. The way I see it the real estate firm is doing less work and less advertising expenses at a minimum. Are the sellers really paying these (fill in the blank) kind of commissions ?

[Robbb]

They mention the home cannot close until April 9th I believe.

[Robbb]

Originally Posted by Bilyclub

I though all buyers had to sign a legal document stating they would not sell their house for a year.

Owner's Name PAN AMERICAN PROPERTIES INC
Site Address 5746 LANDON AVE, THE VILLAGES, FL 32163
Mail Address 17 UNION RD RTE 221, C1E 3B2, FC

Ok I get it now, foreign buyers buying up property as investments, then flipping them in a year. I, naively didn't realize that was happening there. Buy it, rent it out for a season then flip it.

[Bilyclub]

Originally Posted by Robbb

They mention the home cannot close until April 9th I believe.

Yeah, just read the flyer. Looks like the pool was added too. No birdcage over the pool.


The Villages - POH Flyer

[JP]

House prices are insane. I guess if you sell your place up north for a crazy price, you are willing to buy here for a crazy price. Lots of factors driving the prices higher such as companies such as Zillow buying homes. I've read they recently stopped. Prices will fall. It's just a matter of when.

[kkingston57]

If these #'s are correct, I suspect that previous buyer had many upgrades including a swimming pool. Our neighbors did the same thing.

Suspect that the amount of potential buyers is dwindling. This should calm the market down