the situation is different, yes, but I don't recall people in 2004 getting $100K over their asking price. that's what's happening around the Tampa area, just for one. The confluence of inflation, likely rising interest rates, and the bloated prices in homes right now will result in a similar housing meltdown within the next 12 months. it's what I think. if you're going to sell, sell now. Don't wait. it's what our financial advisor told us (and yes, he sold, is living in a friend's condo and expects to buy back in next year when prices fall). I've read this in other places. I tend to believe it. We at this point own two houses - one in TV, one in Tampa. Our house in Tampa goes on the market saturday

I can only offer our experience. In Feb, 2015 when we signed our contract in Dunedin, the entire section we were in was built out empty. None of the houses were pre-sold until our area was completely done. Additionally, one of the houses across the street from me was not put offered for sale until a year later.

The Villages has used various "release for sale" strategies during my 6 years of ownership. They release or withhold in such a manner as to maintain their desired flow/mix. It's there plan to understand.

Just Sayin'

It would be difficult to find proof either way. It was not my intention to claim any unique or absolute knowledge, only to propose a third possibility.

"The Developer" is clearly a clever businessperson who would want to maximize his profit. Knowing/believing that there will be no end to demand in the Villages and seeing a nationwide increase in price due to a shortage of inventory it would make sense to keep the supply tight here as well. On the other hand, shortages in materials and labor and a high demand would also limit the number of homes that could be built while burning through any available inventory.

If Financial Advisors knew anything, they wouldn't be working for companies giving people advice for a fee. They would keep the secrets for themselves and get stinky rich. And one who couch surfs at a friend's condo and claims to know prices will fall next year is completely full of crap.

Financial Advisors aren’t necessarily experts in real estate. I looked on the Villages website today and many average homes are in the 600 and 700s. That may seem high, but people still need houses and they just don’t have enough of them. This is probably more the time to build (good luck finding a lot). As far as cheaper or costs going down, ya, if you want a manufactured home in the Northeastern section there are deals to be had. Homefinder - The Villages(R) Homes and Villas for Sale
If you are looking at anything South off 466A, forget it. It just won’t ever happen unless you want 8K a year in taxes, an annual bond of 2300 and you are willing to plop down that 700k.

The true sweet spot if you are a buyer may be between Sumter and 466A?

well he is his own company, and he is probably pretty wealthy and he DID take his own advice. as I noted in my post, he sold his house a couple of months ago, is renting a condo while waiting for the market to cool down and then will buy back in. so clearly he is taking his own advice. investments? He tailors the investments for what each of his clients need or want, and according to their own goals. I know he invests his own money as well. so what's the beef?

and he doesn't charge me by the hour. he's done real well for me the last 10 years. Well worth the money

No inventory = no sales. Looks like people are staying put.

Price drops
 

Noticed there are anywhere from 3-5 homes that are dropping prices each week. I still think they are overpriced, but at least the owners are realizing it too. I have to give it to the first house though, they shot for the moon-missed-and are being a little more realistic (still pretty high). Here are two from just yesterday:

Reduced $106k- 17657 SE 88th Covington Cir, THE VILLAGES, FL 32162 | MLS# G5043146 | Redfin

Reduced $10k- 7199 SE 173rd Arlington Loop, The Villages, FL 32162 | MLS #G5042997 | Zillow

Warning to the Real-Estate Cartel. WSJ
The Justice Department will take a new look at those outrageous brokers fees

About time

Cooled down pricing?
 

There is an Ottawa in St. Catherine for a steal! Just under 550 K

/s/

Looked at the first house. It’s nice we were the 15 appointment, no takers, so notified of reduced asking. I am guessing some want to sell for next house. Asking for the moon, and when it doesn’t happen, prices come to a more realistic asking.

Nice houses but at that price I would want new and not 20 years old. Doesn’t say if it needs a new roof air conditioning and all the other maintenance items that Add up

10 new houses available. Slim pickens

I just looked and agree with you......ONLY 10 NEW HOMES FOR SALE in The Villages?? Will someone ask a sales person ...is this a land rush? ....Do they have a shortage of building supplies? ...Why such a limited of supply of homes/villas? They are pushing dirt on both sides of turnpike and there are so many workers south of 44. Only 10??

Our friends bought in St Catherine May 3, closing isn’t until July 22. Range, garage doors openers, floor molding 2 closet doors are still missing as of last week. There are many homes the outside is complete, but interior still has detail work to be finished.

As we drove in the area of their home, there might be 100 plus homes, some have names and sold in the window, but interior has a ways to go. You see very few workers, and trucks in the area. So might just be lack of supplies. Not sure of state of Florida on what house must have for closing on a loan.

For those who have lived here awhile, when was the last time you didn’t see a home close in 30 DAYS, on a new build.

Actually, it's the seller that determines the final price. The buyer may make all of the offers that he or she wants but it's up to the seller to accept one of them. If the seller doesn't want to sell, there's nothing the buyer can do about it.

We're not seeing a slow-down in Pennecamp. In our neighborhood houses are selling in hours and at astronomical prices. The latest one was 2 weeks ago.

We have been watching new home sales south of 44. The Villages usually releases 25-30 homes for sale at a time. Usually, there are three to four left within a day or two. Houses are selling faster than they can build them. I don't see the market slowing down at all.

Are you implying that if the buyer doesn't want to buy there is still nothing the buyer can do about it and the seller can force the buyer to make a purchase he doesn't want to make? It seems like the buyer actually has some say in this too. The seller can ask for whatever he or she wants but it's up to the buyer to accept the price. Together, the buyer and the seller determine the price.

Yes, when buyers outnumber sellers then the sellers can pick and choose among buyers and can get more for the home they are trying to sell. But the scales are not always tipped that way and sometimes there are more sellers than buyers.

Realty Executives on YouTube give weekly summaries of listings and sales. No need to guess at the numbers

Good summary. Can't tell what the houses are selling for on the The Villages website since they sell before they are posted. They show lots of pending but no price. I am curious what the typical PV goes for in Brownwood with standard features.

I asked
 

Well simply I asked what about all those homes I just drove past .. “ we not releasing those yet was the answer !” Take a drive and look for yourself.. not rocket science

They have always released new builds in blocks once they are ready to be sold, at least in recent years. Those that you drove past and were told they are not released yet are most likely not quite ready.

They have an Aspen 1916 square feet for a steal of a price today at 638,906.

Homefinder - The Villages(R) Homes and Villas for Sale

What part of “cooling off” does that fall under?

Prices are Higher than Ever
 

They have an Aspen 1916 square feet for a steal of a price today at 638,906.

Homefinder - The Villages(R) Homes and Villas for Sale

What part of “cooling off” does that fall under?

Yes. The simplest answer is usually the correct answer...

Well, it does have a "view lot", "room for a pool", and a "three car garage", so there's that...


Signed,


Fellow Aspen owner

Have to agree. Some homes don’t make it to the general public. We bought in McClure a resale Village property. Agent called and said I got this listing can u see tonight? After watching online and seeing either sold or pending we went and made offer—— honestly in this market you need more than one agent helping you.

The Aspen, is a beautiful home, one of my favorites! My point is, houses aren’t going down in price. And… I just looked at the link….PENDING
The market hasn’t cooled down. The home is selling/sold for 333.50 a square foot! What could that lot possibly be worth? On the high side 150K

BUT,take a look at MLS and TV websites. Some of these homes they are just throwing a price on them hoping it sticks. Some are let's say not desirable, some are let's just call them over priced. Let's see what happens.

Someone posted here a while back that water view/preserve lots were going for upwards of $250k "down south" so I am not surprised at that home's price at all.

kathy

Oh, I agree... I guess my sarcasm level was set too low... :icon_wink:

You will know when the market has cooled down when patio villas in Brownwood start showing up on The Villages for sale website.

The good news is new housing starts are up 6%, higher in some areas. And paying 180k for a view of a retention pond is nuts. Wood futures have dropped significantly. There is always a finite amount of people on the move. Plus the expansion of the villages alone tells you there will always be a home for sale .. the 4 million homes in foreclosure nationally will have some impact but then again there are major corporations ready to snap those up

Cheap living at 2.6 % interest! The Riff-RAFF is moving in... The Villages has become a low income housing development while The Del Web communities have raised the bar ..

Somebody must not be checking the recent sale prices...

Low interest but higher purchase price equals higher payments. With nothing new available for under $200,000 and that is a very small villa with a car port and those with garages now in the mid 200's I would hardly call this a low income housing development. I believe the last announced average selling price here was in the mid 300's and many designers now nearing the $1,000,000 mark.

Fewer sales in general right now is due to fewer homes available. It has nothing to do with people not wanting to buy.

Any good home that hits the market will get multiple offers which drives up the price. The buyers make that happen, not the seller.

I don't think it would be wise for the seller to accept the lowest offer. Why would they want to do that?

“Riff-Raff”
 

Wow, disregard the use of the linking verb “is” which should be “are”. It would be a blessing if some weren’t judging others. I like to embrace all, but your statement proves to me there are some out there who still are quite prejudice with dollars as a persons value. It’s quite sad.

2.6 is a great rate and should be taken advantage of. Why pay cash or draw funds from your Edward Jones that pays 6-8 percent all the while you keep your capital?

Delweb is cheaper for sure. Maybe you could live there with those that have gone the cheap route? Just watch out for that scary group called…”Riff-Raff.”

They is here already............They was hear for years.............They post in ToTV.