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

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

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.

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.

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.

Buyer just have patients a lot of buyers have hit their limit on record-high prices.
 

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.

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?

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

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

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.

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

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.

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

Unsustainable
 

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.

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

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.

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

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

What/where is Beaumont?

kathy

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

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

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

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.

Mm
 

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

Or as most say, Investors.

They are not in it to break even.

Can you show me the evidence that they are "withholding inventory"?

Seriously, I'm very interested in your source for this information...

We bought in 2008 and I was monitoring TOTV daily. The pages were full of laments from folks up north that they were ready to buy in The Villages but could not sell their home, At that time we bought for much less than the home had originally sold for when it was built one year earlier.

It certainly makes no sense to me. Why would they do that in a booming market?

If the market were depressed, and they felt they could do better later and make up for the loss of the value of "money in hand", then maybe they'd do that. But now? They probably wish they could build them faster, right now.

Low inventory = increased prices.

Low Inventory?
 

Evidently it is a national problem, not just a Villages one. “ What inventory?” Is the question in every section of the country. There isn’t a bubble, there’s a trend and it is here to stay for a while. Millennials are looking for homes and there just aren’t enough built yet.

Is it a national conspiracy? It certainly doesn’t seem to be just a TV one!

So, either sell 10 houses for a few thousand more, or sell a hundred houses...

Hmmm, which one will make me more money...

https://1.bp.blogspot.com/-jWnrwGZtf...s1600/pooh.gif

The famous supply vs. demand...

There's always option three: Sell a hundred houses but only make ten available at a time so you can get a few thousand more for each.

In the 2008 home crisis, flippers went wild and created excess supply. It became cheaper to rent than to own. That is not the case now. Also the loan standards are more strict so that the buyers today are financially better off so that there will be no tsunami of foreclosures.

There very well may be another housing crisis in the future but not anytime soon. And if it happens I believe it will be the result of an economic dislocation, not the cause of it.

I think the tipping point is coming where housing prices are going to cool off significantly. Likely due to the inflation being caused by reckless deficit spending - the Fed will raise interest rates and POOF, prices on houses are going to settle in a big way. Plus the stock market - overvalued. steep sell-off will likely occur today. I believe a big correction ala 2008 is coming.

And the housing bubble? Reminds me of how things were in 2005 going into 2006. Took more than a decade for my house to be worth what I paid for it. Glad I'm not in that position any longer. Bought into TV before things got really nuts and no intentions of selling.

Are they withholding inventory or controlling in which areas and which homes get sold. On TV app, there are consistently 25 to 30 new homes for sale. If your agent knows you want to buy, but you dont like any of those 25 to 30 homes, I guarantee a 31st home would become available that would meet your needs.

there's nothing in the law that says you have to list your home....people who aren't really in a "must sell" situation are always evaluating the market. but I know this - if you're an owner, and you're trying to sell, what makes you think that the MLS is "withholding" your listing?? Sorry, I don't buy it. if i was trying to sell, I'm up on MLS. Period.

now can a real estate agent call people or otherwise solicit people to sell? happens all the time. I get stuff in the mail every other day. emails. but convincing someone that "hey I have a buyer and they are hot for a house like yours so please let's list it now" is not the same as some conspiracy about withholding listings to artificially raise prices. I don't think the home market is that unified. Reality is this - there is a lot of pent-up demand to move due to COVID. COVID also drove up construction material costs so relatively fewer new homes are being built which makes existing homes relatively more valuable. and there is a big demand of people who want to move to Florida for tax reasons, weather reasons, political reasons. super low interest rates (for now).

Supply and demand. I think I heard about that in college...I dunno

And actual proof that is happening?

Most of that previous bubble was caused by the relaxing of lending standards, to make home loans "more fair", even to those with lousy credit. I know first hand, as a friend of mine was in the "B-Mortgage" business... He nearly lost everything when the crash came, as his company started backing the risky loans themselves...

Fannie and Freddie knew this was coming, but Barney Frank blocked and attempt to reign in the risky loans...

People re-financed, and re-financed, taking "cash" out of the new found equity, and when the bill came due, they walked away...