[Neils]

Originally Posted by ithos

You are definitely in the minority but I am interested in what you mean by your description of villagers. You seem quite angry and I am not sure if a change of zip codes will do much about that.

One less grumpy villager soon!

[tvbound]

Originally Posted by Dr Winston O Boogie jr

Property values have never gone down in The Villages in any year since 1985. The Villages is not like the rest of Florida or the rest of the country.

"Property values have never gone down in The Villages in any year since 1985."


That's simply not true. My research has shown that The Villages MSA went down about 9% in year-over-year prices in 2008, which admittedly is still less than the national average in the same period. This comes directly from a Daily Sun article titled "All About Value" written in 2020.

While no one can definitively predict what will happen in the future, it's our opinion this current crazy housing bubble will also burst, just like all previous bubbles - versus a slow but steady increase seen in less volatile times.

[dewilson58]

Originally Posted by shut the front door

Try telling that to the people who bought in 07 and lost over a $100k when they sold 7 years later.

Did not happen unless the house was a piece of crap.
The Villages house prices did get soft, but did not lose $100k.
Whatever the lost, the value returned in two years.

[asianthree]

Originally Posted by Dr Winston O Boogie jr

Please state some actual cases.

In 07 the buying frenzy was just as bad as it is today. Of course it was also driven by, that was the buildout. Homes had offers 6 deep, with new homes going in minutes. We came that year, a patio villa started at $180,000. I still have the original paperwork from the homes for sale then somewhere in a file.

We chose to wait, plus couldn’t get a new home anyway. Our friend bought in 07, sold in 2008 for loss, after upgrading the kitchen, baths, and lanai.

We came back in 2010 bought exact home different village for $118,000.

[joelfmi]

Originally Posted by LMBNY

I've been watching/studying the market in The Villages for a year like a madwoman. We're here now for a month and were hoping to purchase, but I don't think it's going to happen. What is most interesting to me is checking out the property history. There are so many homes that have sold in Feb/March/April, then put back on the market in June/July for 30-50K more Home that are being flipped be very careful . No upgrades/renovations. Nothing. Just a fast flip. And people are buying!

.Before anyone that buys a home that is being flipped for cash have the home apprised and inspected, Inside and outside for construction defects, electric and plumbing upgrades, roof, sink holes, noisy location, power lines, cost of renovations, illegal plumbing and electric work, ,neighbor's and rules of HOA, this is just a little of what must be done. As a rule flipped home need a lot of due diligence.

[manaboutown]

During my first visit to TV in the fall of 2009 people told me about the new home buying frenzy in the last few years before 2007. Apparently at one time two large tents were set up to handle the crowds wanting to buy. If I recall correctly I read the sales of new homes in TV ran around 4,000 in 2004, 2005 and 2006. Anyway, by late 2009 prices on new homes had been reduced. There were still plenty of sales but in the 2,000 range. Prices were off from before 2007, but not to the degree they were elsewhere. IMHO The Villages weathered that storm due to its buyer demographic. What seemed to be holding people up in 2009 was they could not sell their "up north" homes for the amounts needed to retire and relocate to TV.

The Villages New Home Sales: 2003-Present | Inside The Bubble 2021

[Villageswimmer]

Originally Posted by Hiltongrizz11

Anyone can go in and alter a Zestimate
If you're using that as a guideline then I suppose you're playing your day according to the stars

Not true. One can change/update home facts but not Zestimate.

[vintageogauge]

Originally Posted by joelfmi

.Before anyone that buys a home that is being flipped for cash have the home apprised and inspected, Inside and outside for construction defects, electric and plumbing upgrades, roof, sink holes, noisy location, power lines, cost of renovations, illegal plumbing and electric work, ,neighbor's and rules of HOA, this is just a little of what must be done. As a rule flipped home need a lot of due diligence.

No need for an appraisal they can't keep up with the changes, you either pay what they're asking or you don't get it. All homes purchased be it from a flipper or original owner should be inspected. A lot of these homes that are being purchased and re-sold are only a few years old, if south of 44 the oldest homes are just over 4 years and need very little. No need to be paranoid because a flipper is making a few bucks on a re-sale.

[vintageogauge]

Originally Posted by asianthree

In 07 the buying frenzy was just as bad as it is today. Of course it was also driven by, that was the buildout. Homes had offers 6 deep, with new homes going in minutes. We came that year, a patio villa started at $180,000. I still have the original paperwork from the homes for sale then somewhere in a file.

We chose to wait, plus couldn’t get a new home anyway. Our friend bought in 07, sold in 2008 for loss, after upgrading the kitchen, baths, and lanai.

We came back in 2010 bought exact home different village for $118,000.

There was a big difference in 2007 and a couple years earlier and that was giving loans to those that were not credit worthy which lead to mass foreclosures. That is not going on today and unless your are buying home as a investment a little drop in value shouldn't be a concern.

[Topspinmo]

Originally Posted by joelfmi

After looking at some of the resale's which needed thousands of dollars in upgrades and were dated 10 year home and older. It was not the best idea to purchase now, because of the prices they were asking.

10 years dated LOL, so you expect someone to up date there house to you’re standards so you can lowball bid. You want updated house buy new one.

[joelfmi]

Originally Posted by joelfmi

Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less competition.
Housing Market Update: Pending Sales Slide as New Listings Reach Pre-Pandemic Levels, THIS I HOPE WILL STOP THE GREED OF SELLERS
Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less as per Redfin

As of july 5th Home buying competition has eased a bit as more house hunters postpone their search because they’re priced out, burnt out, or would rather spend their money on activities like travel and entertainment now that pandemic restrictions are being lifted.’

[dewilson58]

Originally Posted by joelfmi

As of july 5th Home buying competition has eased a bit as more house hunters postpone their search because they’re priced out, burnt out, or would rather spend their money on activities like travel and entertainment now that pandemic restrictions are being lifted.’

Jus because you keep repeating it, doesn't make it true.

[Normal]

Originally Posted by vintageogauge

There was a big difference in 2007 and a couple years earlier and that was giving loans to those that were not credit worthy which lead to mass foreclosures. That is not going on today and unless your are buying home as a investment a little drop in value shouldn't be a concern.

Exactly, we aren’t facing a financial crisis and collapse, the market has not kept up with the demand for homes. People don’t have the short sell option they used last time. The fact is Inventory just can’t keep up with buyers because of the pandemic’s effects. Perhaps when the Fed raises the interest rates next year, prices may level off at their new highs?

[Babubhat]

Realty executives posts on YouTube weekly with a report on listings and sales.

[TNGary]

It is not a zero sum gain process. A vast majority of the stakeholders want and reinforce price escalation: Seller, Realtor, City appraisers, Banker, Independent(?) Appraiser supports the process to get the jobs to be known as a deal maker not a deal breaker. Basic stuff. Yes some supply and demand dynamic impact short term cycle, but not long term trend. IMO