[Laker14]

I've been following the listings on Trulia for a few years. Especially between 466 and 466A, and inside, or in near proximity of the Odell-Bailey Trail loop. There are definitely more homes on the market listed in that broad area now than there ever were, from Spring of '21, through January or February of '22. And I'm seeing more price reductions. Some of the price reductions seemed to me to be from incredibly ridiculous down to very optimistic. It's hard to say for sure because I don't walk through the houses. Maybe there is something really special that just didn't come through in the listing. I doubt it. More likely to me is the idea that folks were hearing about crazy prices, and thought they might as well cash in. Maybe 6-8 months ago, but not now.

[dewilson58]

Originally Posted by manaboutown

Mortgage interest rates are finally returning to "normal", about 6% per annum - at least for now.

You are right, but you should not publish your address, many are upset.

[OrangeBlossomBaby]

Villages Real Estate agents are licensed real estate agents. But they are under exclusive contract with the Villages, and can't represent sellers of homes outside the Villages. But since they are the contracted agents, they have the exclusive rights to selling Villages-owned properties (meaning - have never been sold to anyone yet). Non-Villages Real Estate agents are not allowed to sell NEW homes in the Villages, but can represent homeowners to sell pre-owned homes in the Villages.

Since Villages agents have exclusive rights to never-owned property, it's in their best interest to focus their sales efforts on those homes. It's also in the Villages Developer's best interest, since they're the ones who profit from the sale. The Villages developers don't profit from sales of pre-owned homes, UNLESS it's one of their own agents selling the home. But their own agents have to compete with other agencies for those homes.

Our "buyers' agent" was a Villages real estate agent. We had the lifestyle visit down across from Brownwood in the villas there. I was 100% NOT interested in looking for a new home anywhere near it, and was disappointed when they said we couldn't do a lifestyle visit in the Sumter Landing area (the cottages used to be lifestyle visit properties). We wanted to look anywhere from "near" Sumter Landing and points north of that. So the agent and we had to waste a lot of time travelling.

Thankfully we found what we wanted online a year later in the "historic" section, and our agent was happy to help us navigate the sale.

[JMintzer]

Originally Posted by Bilyclub

Having first hand experience can say not an urban legend. The only preowned houses our sales agent took us to North of 44 were ones we picked out.

And my first hand experience was the exact opposite. Yes, we toured South of 44 (mainly to be able to see what some of the models looked like in real life), but when we decided we wanted to be between 44 and 466A, South of 44 was never mentioned again... (nor was North of 466A)...

[Jayhawk]

Originally Posted by Stu from NYC

Village sales agent sell what they are told to by their managers.

Pretty much the same as any job, anywhere. Normal workplace behavior.

[Babubhat]

Housing Market Update: Share of Homes with Price Drops Reaches New High

[Djean1981]

Originally Posted by Bogie Shooter

More subtle bashing of the new areas………..

Yeah. Some are jealous..

[melpetezrinski]

Originally Posted by dewilson58

Facts & Data would tell.

But what the hell, let's jus speculate.............it's more fun.

On the MLS (zillow, realtor.com and others), there were 91 properties for sale in The Villages as of 3/1/2022. As of today, there are 212. On the VLS (The Villages Website) 131 were for sale as of 3/1/2022. Today, 266. Of which, 69 are new construction. FSBO have stayed fairly constant.

[Stu from NYC]

Originally Posted by melpetezrinski

On the MLS (zillow, realtor.com and others), there were 91 properties for sale in The Villages as of 3/1/2022. As of today, there are 212. On the VLS (The Villages Website) 131 were for sale as of 3/1/2022. Today, 266. Of which, 69 are new construction. FSBO have stayed fairly constant.

Wonder if/when the developer slows down building new homes?

[Laker14]

If the high interest rates are here for a year or more, or, as they quite reasonably could do, increase over the next year or two, it has to have an effect in at least two ways, it seems to me. Retirees up north won't get as much for their homes as they sell them, and their budgets will be less as they shop down here.
I bought my home in TV with a 2.75% 30 year fixed rate mortgage. Current rates are about twice that, so the same purchase price would carry nearly twice the monthly payment. Ouch.

[Stu from NYC]

Originally Posted by Laker14

If the high interest rates are here for a year or more, or, as they quite reasonably could do, increase over the next year or two, it has to have an effect in at least two ways, it seems to me. Retirees up north won't get as much for their homes as they sell them, and their budgets will be less as they shop down here.
I bought my home in TV with a 2.75% 30 year fixed rate mortgage. Current rates are about twice that, so the same purchase price would carry nearly twice the monthly payment. Ouch.

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

[Luggage]

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%

[Papa_lecki]

Originally Posted by Stu from NYC

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

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.

[Stu from NYC]

Originally Posted by Papa_lecki

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.

[Keefelane66]

Originally Posted by twoplanekid

I don’t have the data to say that preowned homes sales in the Villages have come to a slow down. However, there are now a lot more homes listed for sale on the Villages internet sales site. Has anyone else noticed this? A few homes that I have been tracking have also reduced their listing price. This situation is quite a change for just three months ago.

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