Get ready for 7-8% within a year. Should stop the rise in housing prices

I don't care too many people with too much cash playing games by buying two three four houses. They'll all get hurt if pricing goes down south like it did 10 12 years ago in Orlando. They seem to forget that. Just like everyone crying at the stock market went down in the last week, but they forget that it went up for 10 years previously 100%

How about after the July Fed meeting. 30 year fixed in Florida is averaging around 7.1%

Disclosure - I googled it, and that’s what I got back. I am sure you can get a mortgage for less than that.

Not for long. Only way left to fight inflation is higher interest rates. However would be shocked if this does not manage to put us into a recession hopefully though a fairly mild one.

I'm glad we didn't buy at the top of this housing market the Villages is a bubble possibly waiting to burst?

Yes, and your are way East of Buena Vista. :coolsmiley:

We did a lifestyle visit in Feb. We had no intention of buying new and told our Villages agent that right from the first phone call. She still tried to get us to look in the new section. I finally had to be blunt with her and tell her, don't even take us to see a new home.
She reluctantly got what I was saying....finally. At that time she didn't have much inventory of existing homes to show us. Luckily we had a great MLS agent and found what we were looking for.

They very much do push new homes.

According to Freddie Mac, the average rate on a 30-year fixed mortgage rose to 5.78% last week, the highest since November 2008. It was the largest one-week increase since 1987.

Are most of the homes you see North? Realtor told us lots of people in the north sections are bailing for the newer homes in South. Homes in North are on the market longer while in the South they’re snapped up quickly.

Our Villages realtor pushed the new section which was Hadley and Hemingway. Wanted a larger home near LSL, and she found us one, so it ended well. And I've heard this many times from others. The sad thing is they steer potential buyers away from the seller which does the seller no good.

If you have any sales person who only wants to show specific listings, you need to fire that person and get a new one. Good Villages' agents will show you anything to fit the needs you have expressed. The only thing they can not show you is MLS listings, which are much low in quantity in TV. The 'urban legend' is something perpetulated by non-Villages reality personnel as a method to substantuate their position to sell you something.....for they only can handle a small % of total listings.

I hope anyone who was getting geared up to go back home anyway, especially if they owned a house where they came from, made the decision to get while the gettin’ was good.

Sellers have been sitting in the catbird seat for well over a year. This real estate market has had a bigger emotional component than I have ever seen. Yes, money was cheap, but unlike the last bubble, lending practices have been tightened. This one has been an emotional frenzy.

Something else is going on in this one like never before. Big companies are buying up a slew of houses throughout the country, for cash. They are not just flippers. They are tapping into the rental market. First time buyers have been left out because of that bottomless pit of big company money, doing buy-ups. Rent can be exorbitant, making it much harder to save for a downpayment.

In some places, suburbs are building apartments like crazy, often coupling them with some kind of “Lifestyle” pitch. It’s like younger people are supposed to just give up and live in a rental forever.

What a mess this weird-azz real estate market is, was, and will be.

Enough ranting from me.


Boomer

These big companies sitting on a lot of cash will do well as long as many people have to or want to rent at ever increasing prices. If their return on capital falls down their cash position will dry up and they will not be in a position to keep buying homes for cash.

Your agent is not all agents...

Great way to push you into buying a new house. Did they give you any numbers to back this up?

They haven't slowed down building yet. It's amazing how fast they are going up and more villages are being started every month or so.

Very true but as interest rates go up people who can afford current prices with mortgage will get smaller and smaller.

Interesting to see how this plays out.

Although The Villages is unique this is what is happening in most markets which could affect people selling their homes to move here.

Housing Crash Imminent: As Mortgage Rates Explode Price Cuts Soar And Buyer Demand Collapses | ZeroHedge

The higher priced new builds are also sitting longer than in months past.

So, just cause you been here don’t mean you know in and outs of housing market. Others have posted first hand experience.

Preowned site can be broken down to areas, and type of build. We have been actively looking for 18 months, and keeping stats.

Yes, there have been more homes in the northern section for sale, the prices have risen to a higher percentage keeping up with home prices south of 466. However, less have large garages, or golf cart garages, age comes in to play, but lots are sometimes bigger, and bonus is bond is close to paid off.

Good friends of ours have recently moved from north of 466A to about 4 miles south. Seems as if as you go south the lots become smaller and houses are closer together. Also it appears as you go south garages get deeper. We live N of 466A and wish our garage was a couple of feet deeper.

You make some good points.

But I also think the Florida market, especially the over 55 communities, is driven mostly by the boomers. We're a huge generation, many are retiring and wanting to move to warmer climates.
That's not going to slow down anytime soon. Add to that more people than ever are retiring early.
I do think the market will cool of some due to interest rates, and it may be happening already. Plus, the stock market may delay some people making the move.

That said, I think the market here will be fairly strong for a while. Just not red hot like it's been. Home prices can't go up forever.

I simply shared our experience. Obviously some, maybe most, do push new as more than a few on here have said.
I'm not blaming them for promoting new to a point. They make more on those sales, so it's understandable why they try to sell those first.

I was just a bit frustrated that she didn't hear what we were saying. Our MLS agent was just the opposite.
A big key to being successful in sales is to listen to your customer.

I've been in sales for over 30 years, so I know a little bit about this.
We're not quite retired yet, only 10 more months.

We have friends in Briar Meadows, you can't get much further north than that and the lots are so small you can talk to your neighbor from the lanai without raising your voice. We live south of 44 and our lots are much larger. We also have a friend in Caroline his lot is extremely small and he's on a cul-de-sac. So I guess there are small and larger in all the different villages and a lot of that depends on the series of home you have. Ranches and cottages have smaller lots than do designers.

I have a house for sale in Summerhill backing onto 7th tee of Fox Run. PM me for details. I am not prepared to discuss any details on line.

As we drive south on Morse the houses seem very close together same as we approach Fenney.

We need some accurate measurements.:a040:

Your MLS agent cannot sell new homes only resales listed with MLS, not VLS.

I started to sell our investment home down here by myself, that lasted about 1 day as it is a PITA, everyone thinks it's going to be a steal because no agent involved. I listed it with an agent the next day and ended up clearing more out of it then I would have on my own. Mark it up 7% or so and let them do the work, they have customers waiting. I would recommend Beth Pope of The Villages Homes. Beth, her husband and daughter all are Villages sales professionals and they work together as a team. You get 3 for the price of 1.

My home is with a Village Agent. It is, however, tucked away in a corner and gets little traffic. Also the ridiculously small signs allowed to sell a home in TV is not helping. I have to get my husband back to family. I hate to do it, but I might have to walk away and leave the agent to sell it in my absence.

Sad you can not give more interesting comments to my posts.

A few years ago, before the housing bubble, a Villager of my acquaintance listed her house for sale with a Villages agent as she was purchasing another home in The Villages. To say she was disappointed with its lack of being shown is a grievous understatement. It was very difficult for her to carry two house for several months. According to her The Villages put next to no effort to market her home. She pleaded with them to try to show it but to little avail. The listing finally expired and she listed it with an MLS Realtor who did sell her home in a short period of time.

I have no doubt YOUR agent was a problem...

I only commented on your post that "they" most certainly do push new homes. They is not the same as "my" agent...

South of 44, they moved the homes forward on the lots to give a bigger back yard. It was what people were now asking for...

Unfortunately, that caused the front yard to be significantly smaller, allowing only one car length in the driveway...

Both areas tend to have larger lots on cul-de-sacs, or when backing to view lots or major roadways... From what I saw, when I was shopping, there was little difference between the average lot size "between the 6's" and South of 44...

Duh! I know that. I was just saying she listened to us, unlike the TV agent. Get a clue.

To prove or disprove the discussion on lot size, pick some addresses and go to the sumter county property APPRAISER web site, not the "Randy Mask" tax site.. Record Search - Sumter County Property Appraiser : Sumter County Property Appraiser you can put any address in the county and it contains the square footage of the lot size, in addition to the square footage of the house etc ..

Then you should have closed with "OUR Agent pushed new homes", rather than "THEY most certainly do push new homes"...

Words matter...

You may want to find another ‘valued resource’ for your information. We ARE licensed agents but we do NOT belong to the NAR. We DO listen to the clients needs and assist accordingly, furthermore, we cannot MAKE you purchase ANYTHING.

Can you act as buyers' agents on resales and if so have you ever done so?

When you sell new homes do you act as a transactional agent or do you represent the developer?

Does the developer motivate you financially or otherwise to steer buyers to new homes?