[tophcfa]

Originally Posted by Aces4

Interesting thought, as if Florida isn't playing catch-up with highways and interstate building. Anyone who has traveled by car through the years in Florida knows how gnarly the roads have been and now with even more travel pressure, it's worse. There has been an effort to bring things up to speed, so to speak.

Highways and interstates aren’t payed for by property taxes. They fund local municipal budgets which are not responsible for that infrastructure.

[Stu from NYC]

The value of our home is down about 10% in the last year. It is just a paper loss but overall we are well ahead and should stay that way

[MorTech]

The massive inrush Florida has been experiencing for years has slowed way down. This has been happening for 100 years. Insurance companies can't make money in Florida so they leave. Maybe some of you should start an Insurance company in Florida...You will be rich without all that market competition!

[BubblesandPat]

Originally Posted by CarlR33

You really need to start a YouTube Channel for your passion on TV homes. Aggressive price cutting? I think I will list my home for $200K more than it’s even worth and then drop it down to what the market says it’s worth….so is that aggressive price cutting? I think not. You should track an actual home sold to what the price started out being in the first place to call anything price cutting? Unfortunately, I do not think the VLS will do that for you but MLS will?

Ive always wondered about that...why don't the Villages (VLS) give the price sold like MLS does?

[opinionist]

Tallahassee has already addressed the home insurance cost with legislation to reduce litigation. In the weeks before the legislation went into effect, 250,000 lawsuits were filed. It will take time for the lawsuits to clear the system. Home insurance costs have flattened out relative to other parts of the country and should drop unless Tallahassee changes the law. The new house leader is a trial lawyer, so he needs to be watched.

[RoboVil]

Originally Posted by Normal

Inventory on Zillow for the Villages has climbed another 7% for preowned homes in less than a month (Feb to March)as of today and up 50% for the past year (2024-2025). I’m wondering when the state of Florida is going to do something about insurance costs and property taxes? Two items they can work on but seem to have no interest in accomplishing? We just get more hot air from Tallahassee about what could be, but nothing is done.

There seems to be some aggressive price cutting on homes, but the bleed continues.

It is mirroring the rest of the US. Home sales are way off. Primarily due to high interest rates and uncertainty about the economy. The stock market correction has not helped either

[opinionist]

Some moves are being made by the governor to eliminate property taxes in Florida. This is preliminary, but it will be fought by every city not willing to give up a source of revenue.

[Normal]

Originally Posted by RoboVil

It is mirroring the rest of the US. Home sales are way off. Primarily due to high interest rates and uncertainty about the economy. The stock market correction has not helped either

Foreclosures are being suppressed too? I just read
Just a moment...

An 11% delinquency rate on housing loans is not a good figure

[Laker14]

It seems several things are at play here (Big Surprise! Economics is complicated)...
1. Post-pandemic bubble (low interest rates + people learning to work remotely + some jobs going away and people being forced into retirement + other stuff?) ends, as all bubbles eventually do.
2. Interest rates for mortgages double, then triple
3. Developer continues to build new homes
4. Old people continue to age out of TV

I'm sure I left a few things out...but those things I mentioned are more than enough to slow things down and increase inventory. It's not a great time to be forced to sell. It might be a fortuitous time to buy, if you are looking to buy a home in TV.

Markets swing. Welcome to the real world.

[Byte1]

My neighbor is attempting to sell his home and had a recent VA appraisal that was obtained just a few months ago. He has had to reduce his asking price three times (over $50K) just to get folks to look at it and has not had ANY offers on it. He said that he was told by an agent that he could have sold it in a couple weeks 8 months ago for $60K more than he is currently asking. Yes, the prices have gone down substantially. If you go back and look at the selling price today, versus the asking price, you will be surprised at the price drop.

[Bill14564]

Originally Posted by Byte1

My neighbor is attempting to sell his home and had a recent VA appraisal that was obtained just a few months ago. He has had to reduce his asking price three times (over $50K) just to get folks to look at it and has not had ANY offers on it. He said that he was told by an agent that he could have sold it in a couple weeks 8 months ago for $60K more than he is currently asking. Yes, the prices have gone down substantially. If you go back and look at the selling price today, versus the asking price, you will be surprised at the price drop.

For homes that have been around that long, I wonder how the selling price today compares with selling price before the COVID bump. Perhaps what is happening now is an adjustment back to the "normal" we had earlier.

Of course, that doesn't help those that purchased during the last five years and are now trying to get their money back out of the home.

[rustyp]

Originally Posted by Jazzman

It has nothing to do with the present leadership and everything to do with the conversion rate which is currently $1 US dollar=$1.45 Canadian dollars. For those that live here and rent or own and can only be here for six months, the value of their currency is the culprit

January 2020 $1 US dollar = > $1.4 Canadian dollars. During the five preceding years (2020-2025) the Canadian dollar briefly (a fleeting moment) touched $1.22. The average was well into the mid $1.30's over that timeframe. If the Canadians are selling solely upon exchange rate they didn't do their homework.

[MX rider]

Originally Posted by Aces4

I'm somewhat amused by the thought the state of Florida needs to do something about insurance and taxes.

The property taxes in Florida come in a bit below the national average in the nation and there is no state sales tax.

As far as insurance cost in this state go, one must realize how insurance is designed to work. The risk of the state that is insured is spread over all the residents to cover losses when claims from losses and catastrophes occur.

The density in Florida is greater than ever now and loss from weather events consume much more property than ever. Hence, the huge losses create costs that need to be covered by the insured citizenry which is a tremendous expense and it isn't going away. That said, the roof replacement scam loophole should be nailed shut. But that is only a fraction of the expenses incurred for insurance companies.

Why do you think so many insurance companies bailed from offering Florida citizens insurance?

Florida has a state sales tax of 6%.
Property taxes depends on what state you come from. But even though they're higher than ours were in Indiana, I don't comsider them to be high.

[Indydealmaker]

Originally Posted by Decadeofdave

Current listing's are 1398 properties. Buyers market, but not giving back all of the inflated pandemic equity.

Considering our aging demographic, less than 2% for sale is a bit low. Death, relocation to assisted living or returning to family for help with age related challenges should have this area at a peak flux at all times.

[Jandj1987]

Originally Posted by Laker14

It seems several things are at play here (Big Surprise! Economics is complicated)...
1. Post-pandemic bubble (low interest rates + people learning to work remotely + some jobs going away and people being forced into retirement + other stuff?) ends, as all bubbles eventually do.
2. Interest rates for mortgages double, then triple
3. Developer continues to build new homes
4. Old people continue to age out of TV

I'm sure I left a few things out...but those things I mentioned are more than enough to slow things down and increase inventory. It's not a great time to be forced to sell. It might be a fortuitous time to buy, if you are looking to buy a home in TV.

Markets swing. Welcome to the real world.

You NAILED it!

I’m 57 and I visit TV as much as possible, which is 2-3 times a year. My husband and I still work full time. My parents have owned a home there for 15+ years. We’ve been looking into buying a home there. One thing I may add is a concern that my children (30 and 34) worry about and that is the fact that baby boomers are dying and the generations below them can’t afford to do what even my parents did (own 2 homes). They have also warned me not to buy there because TV won’t sustain the current situation. Specifically #2 and #3 and what I stated above about not having the funds that the boomer generation has.
So, is buying a home in TV a good investment? I don’t want to overpay and have a house that’s worth half in the end. I am fortunate that I can afford to own 2 homes, but I would have to rent it out to help pay the mortgage to sustain two homes until I retired where I would/could move down full time if I chose to.
BTW I happen to love TV!
Please be kind as I am kind. I don’t need someone who thinks they’re the smartest person on the planet (there’s a lot) being nasty and spewing smart ass comments.
~ Thank you.