[vintageogauge]

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.’

Or they are afraid of holiday traffic both on the ground and at the airports and the fear of a possible hurricane to those who have never experienced one. Let's see how the rest of the month and summer goes.

[KAM+6]

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.

Your wrong. New patio villa in Liberty Park was $132 with $10,000 bond in 2007. No house behind

[ThirdOfFive]

Originally Posted by Vermilion Villager

Most of us Minnesotan's are known for our fish tales....FACT people DID NOT leave Minneapolis and St. Paul in droves because of 3 days of civil unrest (riots if you will). Communities that are 50 miles from the Twin Cities HAVE BEEN bedroom communities for at least 30 years. Yes...more people are living farther out because they cannot afford the high home prices in the Twin City metro area. My townhome in Maple Grove has almost doubled in value since 2008. Lake homes in Northern Minnesota have tripled in the last 3 years and real estate agents are going out of business due to lack of inventory

Morale of the story...this is happening everywhere!

Depends on where one gets their information, I would think. "Homers" like The Star Tribune, Pioneer Press, KARE, WCCO, etc. etc. are going to be glossing over the facts for obvious for various and obvious reasons. One has to be able to look beyond the propaganda.

This is not new, by the way. At least fifteen years ago as I recall (maybe more) a Twin Cities publication had a well-researched article that quantified the loss to Minnesota represented by people moving south and west due to economic reasons. I cannot recall the exact numbers but the loss to Minnesota, both in people and in the taxable income and spending power they took with them, was in the billions of dollars. It was so bad, even at that time, that the then-Governor of Florida once joked publicly that he was thinking of sending the Governor of Minnesota a thank-you card for all the people from Minnesota flooding into his state and bringing their toys, spending power and financial resources with them. It was bad then. I can only assume, given the current situation, that it is even worse now.

Today? Again, if one is willing to look beyond the propaganda, things ARE even worse. An article by one Justin Lee, a writer focusing on where and why people move, summed it up nicely in an article "Moving Decisions: Is It Time To Leave Minneapolis, MN?" Which appeared on the website of Nexus Auto Transport on September 6, 2020 (about the same time we sold our house, as a matter of fact). In the article he lists seven reasons why people are leaving Minnesota in general and Minneapolis in particular, doing a good job of providing information for each. The reasons, in the order Mr. Lee listed them, are 1. the Pandemic; 2. violent protests and escalating crime; 3. efforts to de-fund the police; 4. economic disparities; 5. harsh winters; 6. the high cost of living; and 7. the shift towards remote work. One might find it informative to check this, and other like articles, out.

A couple of examples from personal experience: First, the couple that bought our home were residents of a first-ring Minneapolis suburb, who saw the house on the third day it was listed and made an offer of substantially more than we were asking within a matter of hours after seeing it. Second, a former co-worker of my wife's, once working from home became possible, saw the handwriting on the wall regarding how fast things were degrading in the Minneapolis area and availed himself of the opportunity to leave not just his home in a suburb of Minneapolis but the entire state of Minnesota, moving here to The Villages, as a matter of fact.

As much as we loved Minnesota, we decided to leave once we saw the handwriting on the wall.

[Bilyclub]

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.’

Unless you work for the developer or the preferred closing companies you have no solid information to back that up.

[Robnlaura]

Originally Posted by Bilyclub

Unless you work for the developer or the preferred closing companies you have no solid information to back that up.

We recently looked at homes in the villages (new) noted large tracts of “unreleased homes” noted large tracts of future development. Noted the only homes they took us to were “waterfront” hahahhahaha a retention pond. A salesman says o prices won’t drop .. guess he forgot about 2007. Wood futures dropped 50% building will be back in full swing soon. We decided that a 23% price increase in one year was unsustainable.. old homes we have no interest in. Yes we will wait.. remember all those foreclosures that Covid stopped happening… shadow inventory

[FromDC]

Originally Posted by Robnlaura

We recently looked at homes in the villages (new) noted large tracts of “unreleased homes” noted large tracts of future development. Noted the only homes they took us to were “waterfront” hahahhahaha a retention pond. A salesman says o prices won’t drop .. guess he forgot about 2007. Wood futures dropped 50% building will be back in full swing soon. We decided that a 23% price increase in one year was unsustainable.. old homes we have no interest in. Yes we will wait.. remember all those foreclosures that Covid stopped happening… shadow inventory

At this moment, there are only 17 new homes on the market, according to The Villages app. Good idea that you decided to wait. It looks like people are just buying up whatever they can and hopefully it's something that they really want. Kind of like a land rush.

The Developer is putting in those 'ponds' so they can increase the home price. Our sales rep friend said the ponds look good now due to all the rain we have received, but beware. The Developer will not guarantee that water will always be in the pond. In my opinion, you can have a pond or pond scum or mush behind you house. No thanks.

[Babubhat]

Prices in Beaumont are far less expensive for comparable houses. You don’t get the amenities but some don’t want them.

[BlueStarAirlines]

Originally Posted by graciegirl

Where did you see three homes with a price decrease yesterday?

It is sort of a hobby for me to watch the housing market here. I see very few for sale. Very limited. As soon as they are listed, they sell.

I just go into Redfin and :favorite" (heart) houses. You'll get an email when they go pending, sell, price change, etc. The OP is right, three did lower their asking price yesterday.

[JMintzer]

Originally Posted by FromDC

At this moment, there are only 17 new homes on the market, according to The Villages app. Good idea that you decided to wait. It looks like people are just buying up whatever they can and hopefully it's something that they really want. Kind of like a land rush.

The Developer is putting in those 'ponds' so they can increase the home price. Our sales rep friend said the ponds look good now due to all the rain we have received, but beware. The Developer will not guarantee that water will always be in the pond. In my opinion, you can have a pond or pond scum or mush behind you house. No thanks.

The 'ponds' are for irrigation and flood control...

And yes, you're correct. The water level will rise and drop, depending on the rainfall...

[kathyspear]

Originally Posted by Babubhat

Prices in Beaumont are far less expensive for comparable houses. You don’t get the amenities but some don’t want them.

What/where is Beaumont?

kathy

[Bilyclub]

Originally Posted by kathyspear

What/where is Beaumont?

kathy

466A West of Buena Vista, across from Pinellas Plaza.

[ithos]

Originally Posted by Babubhat

Prices in Beaumont are far less expensive for comparable houses. You don’t get the amenities but some don’t want them.

Looks great. But the deal breaker for most... not a golf cart community.

[Kenswing]

Originally Posted by kathyspear

What/where is Beaumont?

kathy

Another development that's not The Villages. Located behind Lowes.

[OrangeBlossomBaby]

Originally Posted by FromDC

At this moment, there are only 17 new homes on the market, according to The Villages app. Good idea that you decided to wait. It looks like people are just buying up whatever they can and hopefully it's something that they really want. Kind of like a land rush.

The Developer is putting in those 'ponds' so they can increase the home price. Our sales rep friend said the ponds look good now due to all the rain we have received, but beware. The Developer will not guarantee that water will always be in the pond. In my opinion, you can have a pond or pond scum or mush behind you house. No thanks.

According to the Villages Homefinder (their official webpage) there are 22 "new" homes for sale that are not already pending. There are three additional homesites that will build to your specifications. There are also almost 300 "new" homes for sale that are "pending."

Considering that NEW homes typically close within 30 days in the Villages, it's safe to assume that MOST of those pending homes were only sold within the last 30 days.

Doesn't sound to me like a slow-down at all.

[Robnlaura]

Originally Posted by OrangeBlossomBaby

According to the Villages Homefinder (their official webpage) there are 22 "new" homes for sale that are not already pending. There are three additional homesites that will build to your specifications. There are also almost 300 "new" homes for sale that are "pending."

Considering that NEW homes typically close within 30 days in the Villages, it's safe to assume that MOST of those pending homes were only sold within the last 30 days.

Doesn't sound to me like a slow-down at all.

Well they are withholding inventory they have a run rate of three hundred homes a month (new) they will still build 300 homes a month no matter what so they withhold a 100 and next month they have 400 waiting to sell.. it’s a game to keep prices up and create fear you won’t be able to buy.. as for selling “waterfront” for 160k that’s them having a laugh .. note it’s always those same homes that are available.. will wait even it’s a year we will wait