Today I saw 1.75%, no fees, on a 15 year fixed rate loan and am following up on it.

Riff Raff...

https://carboncostume.com/wordpress/...cture-Show.jpg

H4p
 

The best way to buy a home if you are 62 or older is the H4P. You never have a mortgage payment, and you get to keep cash in your bank. PLUS, you can buy the home you really wanted, not the one you thought you could afford! It's just not very popular because most RE agents don't understand it.

Indeed, both MLS and TV websites are showing slow yet steady increases in inventory. At some point the recent pricing limited demand. Looks like that point is now. But they could throw 100 patio villas at 260K and they'll sell like COCA COLA

116 TV Website
89 zillow
Last week 60 and 69 respectively.
Inventory higher. Price too high. Demand will slow.

According to a new report released by Florida Atlantic University’s College of Business, buyers in Jacksonville are paying 23% more money than they should be for homes. Homes in Tampa are overpriced by 32%, Orlando by 21% and Miami homes and 16.9% overvalued. One real estate economist is urging Floridians to rent because homeownership is too expensive right now.
Low inventory, low interest rates and historically high demand for homes have created a housing market that hasn’t been this overpriced since the leadup to the 2008 economic crisis.

And more
 

Four homes we looked at went pending, in a few days. $825,000 and up. Just received a email from MLS three are back on the market. I have no interest in them so didn’t ask why the return list

Not because it's cooling, there is limited inventory. Hot, Hot, Hot.

Well if Zillow or Trulia or Realtor are any indicators, looking at my house, the value they estimate seems to go up every 3 days or so, including today.

Limited inventory hurts. Lack of villas... Look at the pricing. Top of the chart. Throw a price on it see if it sticks. You will see decreases on homes over 350K. Watch.

:what:

Sellers don’t set the market, buyers do. Also the TV new construction acts as a price control.

That new home price control only helps those in front of the line.

New home market prices have no relation to resale prices. They are two different markets. They are not comparable. Any correlation is coincidental.

Resales are subject to depreciation. Resales in The Villages are also subject to seasonality. You are starting to see some reduction in pricing on individual resale units. This simply reflects overpricing on the part of the seller. Probably due to condition or locational factors.

One element that I do see as a drag on individual units is the presence of wall paper. Buyers see it as trouble, effort and cost. Most don't want to buy a renovation project. Flippers aren't going to chase prices.

I also see resales with older roofs as an issue. Sellers can't expect top price with an old roof. In this market, an old roof is defined as anything over 8 years. Insurance coverage is driving this issue.

Every sale is subject to supply and demand. Both new construction and existing homes are affected by the supply and demand market force. But, the two markets are separate. Currently, both markets are out of balance. There are more buyers than sellers in both markets. They will balance at some point.

The ratio of US new to existing home prices is below one. This trend doesn’t bode well for existing-home price appreciation.

Source:
@MizuhoAmericas

If this thread sticks around for a year or two it might be true.

No cooling in TV
 

Prices have increased in the past month to crazy numbers in the Villages.

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

Water views are 600s and 700s
Power wire views are averaging the 500s

Ya, there is little cooling down during the summer in TV

BINGO.
Big mistake on everyone's part.

Wrong. Fair prices will sell houses. MAJORITY are not fair. Keep watching.

Zillow 84
TV 136

Keep watching.

The title of this thread says the market has cooled down. It has not.

:bigbow:

Depends what you're searching for. If you're looking for pricing under 300,000 MOST not ALL sell quickly I would disagree 100% on homes 400 plus. I have been watching closely. I think sellers including the developer have reached the ceiling on price. That's a nice way of,putting it.

LOL!
volume or prices cooling off. . . . ?
new or used or both cooling off. . . ?
florida or the villages cooling off . . . ?
north east versus southeast cooling off. . . ?
Conventional or Jumbo mortgage priced houses?

There are alot of slices to find to generalize about the "housing market".

FYI, rent increase in FL will be significantly higher at some renters next renewals. . . some landlords already looking at 20% year over year. .

finance guy

It's astounding
Time is fleeting
Madness takes its toll .
😎

Cooling down?
 

I think those prices are here to stay. Prices may level off, but cooling down isn’t a term we can use right now. Prices have gone up weekly. Renters are starting to pay more, and people are paying more for houses. How many buyers do you think are willing to go it for a loss?

Lumber prices and demand moved the needle this time, not investments etc. I actually don’t even think there is a bubble. I think there is a lack of inventory and a high demand instead. WallStreet won’t have a crash because of prices this time. If anything, look for inflation instead.

Beaumont development off 466a CUT new home prices

Beaumont
 

Is that for the “double wides” or the newer 2 story structures?

On lumber Are Crashing Lumber Prices Good or Bad News for Home Depot and Lowe's? Mmm

I think again the moratorium on renters and foreclosures ending this weekend could be a turning point. Inflation and gas prices are a major factor. Never seen shortages in our stores like today. Cat food for example .. cat food wow delta could really do a number who knows. Looking at Zillow values on village homes a lot are showing $80 over valued.. for us definitely not a time to buy but we will wait.. time is not out enemy

The ending of renter protection is due
 

With so many jobs available, it is high time someone said stop the handouts; that said, there will be changes.

More rental units will be available for “qualified” renters. This will ease pressure on the renting market and in turn ease the pressure of home buyers to find their dream home.

But, this will also cause damage to most or all of the evicted families! Few to none will rent to those who were irresponsible for their payments. If an applicant has their last w2 statement as “unemployment “ for income, they are toasted and well done.

TV website is showing 159 homes for sale. 10 of which are under $300,000. Bad mix. There WILL be price cuts in TV .

This does not seem like a lot of inventory to me. BTW, that 285K Amarillo, seen on the map in Duval, was listed on the 29th, and according to today's description has received "multiple offers"...2 days....

This is from Trulia

One strategy of selling a house is to list it low enough to get multiple offers bidding against each other. My neighbor up north took a different position. He listed his house at the price he wanted for it and did not sell until he got that offer. It took him a couple of years but he was in no hurry and he needed the money for his final living retirement expenses.

As a buyer, on the other hand, I determine how much a house is worth to me and that is what I will pay. Then the seller can decide if it is enough for them to sell. I always have alternatives if my offer is not accepted.

absolutely. I saw that listing yesterday at something like $188/square foot, and it was in good shape. New owners will likely want to put their own touches in, but right now, unless the place is a dump, a listing at less than $200/square foot in TV is almost certainly going to get multiple offers.

They don't have the family buyer pool that TV has with retirees so it's meaningless. There are lots of family home developments and apartments going up now so that market will be competitive.