[Kittycat2]

Originally Posted by gorillarick

Do you think it has anything to do with building homes like making cookies gor a den of hungry Cub Scouts ?

Yes absolutely! The community is slowly becoming another disposable commodity just like your washing machine and refrigerator.

[kkingston57]

Originally Posted by Jandj1987

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.

Personally, I do not treat a home as an investment. Buy a home to live in. If it goes up and you do not move your heirs will get it's value and values of homes are still good in Florida. Best part of TV is that 99% of the people take pride in their homes and go out of the way to make sure that the property is nice.

[Nell57]

Originally Posted by BubblesandPat

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

All home sale prices are a matter of public record.
Check the address of the property on your county Auditor website.
What you won’t know is if the sale price includes furnishings, golf cart…etc

[Markus]

Originally Posted by Topspinmo

IMO and I can have one? Never see struggling insurance CEO. So ceo can still make millions year and still insure in United States. IMO is insurance should be federal regulation. All states or none. Also if you build on sand dune it’s at you own risk. How that for opinion. IMO insurance IS legalized racketeering. Now, want to know what I think about lawyers?

If you were to take the CEOs pay down to $1 a year and spread out that pay in lower premiums across all policy holders it would amount to only a few dollars. That is not the problem at all.

[Markus]

Originally Posted by Normal

We are at about a 9 month supply. It would take about that long to sell the current inventory at pace and amortize to zero without adding listings.

And a rule of thumb is that 6 months inventory is healthy for sellers and buyers.

[Markus]

Originally Posted by rsmurano

Keep the government out of everything! They don’t know how to operate any business. I hate the California government and if you look at what California did to the insurance companies last summer before the fires hit, a lot of insurance companies bailed on their customers.
I’ve heard rumblings about Desantis wanting to get rid of property taxes. That would be a huge win for us.

As for the real estate market is collapsing, not even close to reality.
The villages will sell every home they build, and this is proven by the lottery system they have in place for new homes.
The only way Florida will start a big downturn in home sales is when everybody stops moving here from the west, north, and everywhere else, that’s not going to change any time soon.

Out property taxes are small compared to what people are paying in the north and on the west coast. Plus no income tax!

They have severely cut down on building spec homes. There are not that many of them for sale. They are instead focusing on selling the lot/home and then building it so they don't get caught with a ton of inventory they have to highly discount to sell. Just look at the VLS and see how few NEW CYV and Patio villas are in inventory. Almost none right now. Last year there were hundreds.

[Aces4]

Originally Posted by Jandj1987

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.

As others have said, do not consider buying in The Villages an investment. If you need to have a mortgage to purchase a second home, you're not as fortunate as you would like to think. (I'm not being snarky here... just facts.) Let your money you would use for a down payment earn interest until you can retire. Sell your, hopefully mortgage free, current home and then make your retirement home decision. Until that time, rent for any time you want to spend in The Villages. There are currently a plethora of rentals from which to chose.

Owning in The Villages is very expensive and you would be juggling landlord duties, lawn maintenance, pest control, power washing when required, HVAC care and so forth. The Villages will always have homes for sale and who is to say that by retirement age, you won't have a different plan. Good luck in your planning.

[Bill14564]

Originally Posted by Aces4

Fair enough but are you not receiving the benefits of the Homestead Act with lowered taxes? Don't forget about the cost of schools, law enforcement, EMT and fire protection. Everyone wants top notch services but they don't want to pay. When you look at your Florida tax bill are you including The Villages high maintenance bond charge which is on your bill?

At $600ish per year, the CDD maintenance charge is NOT high at all.

If you are referring to the bond, that does not cover maintenance, that recoups the cost of putting the infrastructure in place. The bond is part of the cost of the home that was separated out to make prices more attractive while (likely) generating additional profit for the Developer.

[Bill14564]

Originally Posted by Aces4

Homework wouldn't have advised the Canadians of the unpredicted great rate of inflation that has occurred here in recent history.

Canada (and most of the world?) experienced the same inflation post-pandemic as the US did.

[Aces4]

Originally Posted by Bill14564

Canada (and most of the world?) experienced the same inflation post-pandemic as the US did.

So that would affect those Canadian personal budgets and ownership of two homes, right? Money in hand does not inflate with the economy.

[Aces4]

Originally Posted by Bill14564

At $250ish per year, the CDD maintenance charge is NOT high at all.

If you are referring to the bond, that does not cover maintenance, that recoups the cost of putting the infrastructure in place. The bond is part of the cost of the home that was separated out to make prices more attractive while (likely) generating additional profit for the Developer.

I understand the different charges and I think an extra $250 ISH on a tax bill is nothing at which to sneeze.

[MplsPete]

I found this video by an MLS realtor about TV. About midway through he shows two graphs and his discussion of them very insightful . . .

https://www.youtube.com/watch?v=THaiW-yq5uA&t=660s

[Jandj1987]

Originally Posted by Stu from NYC

Villages still has a lot to offer but we see no point in owning two homes so we are here full time. At this point this is where we live and it is our home and if value goes up great if not so be it.

100% agree with you! If I were in your situation, I would feel exactly the same way.
The only reason we considered buying is to have a house to transition to when we retire, as well as our own to enjoy a few weeks a year. I enjoy coming in May and September. So I could rent it out in the more expensive months to help offset the cost of buying and with the mortgage payments. Just my thoughts.

[Normal]

Originally Posted by MplsPete

I found this video by an MLS realtor about TV. About midway through he shows two graphs and his discussion of them very insightful . . .

https://www.youtube.com/watch?v=THaiW-yq5uA&t=660s

I find it unusual that average sale price is considered when most of the homes sold are in the more expensive pricing category. Doesn’t that mean the average sales price would be skewed to a higher mean and median? Wouldn’t that number be much lower if the number of sales were mostly Courtyard Villas?

[rustyp]

Originally Posted by Aces4

Homework wouldn't have advised the Canadians of the unpredicted great rate of inflation that has occurred here in recent history.

Perhaps they are planning for the future based upon past experience. Supporting my statement I find it barely plausible they are selling due to currency rate solely. The rate is not far off of historical values and or swings that a Canadian senior with 50 plus years of monitoring US currency rates. 90% of Canadians live in border towns. I am a snowbird living through the same inflation. I am not selling anything. Then again I don't have a mortgage or a loan on anything I own. I never subscribed to the strategy of investing my money would make more than the interest on a loan. That is fine until a market downturn. Then you still have the mortgage payment to contend with. So let's ask again what is driving our Canadian friends to sell at a higher rate than US citizens - if that is a true statement ?