[DAVES]

Originally Posted by Normal

It’s all the free market and supply versus demand.

Everyone is staring down the throat of a massive inflationary beast. Whether there is a bubble (there isn’t), or a shortage, a WallStreet debacle, or whatever, the housing prices are here to stay. Sell your house for more, pay more for the next, the whole thing offsets. Your existing home gives you buoyancy in a sea of inflation.

Remember, the US economy had more than a Trillion dollars of funds injected into it along with trillions in penned up savings. People are willing to pay more. Get used to it.

Enjoy what you have saved and ignore the stress of worrying about others.

Reminder to all. We all know real estate only goes up. We all know the stock market only goes up. How quickly we forget. N/C reminder to all EXCEPT WHEN IT DOESN'T.

"more than a Trillion dollars of funds injected into it." Am I the only one who realizes that I cannot comprehend the number we regularly toss about a TRILLION or what out national debt is this week?

History shows there is no way this will end well.

[Pedrocarrasco01@yahoo.com]

Originally Posted by vintageogauge

Sellers are not greedy, multiple buyers set the tone. "Some buyers have hit their limit" are the buyers that can't afford the appreciated pricing in todays market and don't care to settle for a home they can afford. Thousands of boomers retiring every day and TV only gets 8 or 10 of them each day, the developers have nothing to fear my dear. There's a good buy over on Wade Terrace LOL.

3 years ago I put our home in Boynton Beach up for sale. I interviewed the Realtor, they took pictures, the first day in the market, she presented me with 4 offers.
First was at 15k less than asking price
Second was at asking price but VA financing
Third was at 10K over asking price conventional financing
Fourth offer was full price all Cash close in 20 days.
I accepted the Fourth offer, my realtor also had 10 other back up offers which were not needed.
Happy, Happy, Happy Cash is KING. financing can fall through in many ways
I don’t blame the sellers for trying to get as much money for their home, no, is not greed, it is what buyers are willing to pay. I walked out of a deal here when the realtor told me that there was other offers and I had to up mine, I told her withdraw it. Mine was all cash close in 30 days.

[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. No upgrades/renovations. Nothing. Just a fast flip. And people are buying!

[Dr Winston O Boogie jr]

Originally Posted by J1ceasar

the last time we saw something like this was 20 years ago when prices went up 25% a year for three to four years in Florida

Don't worry folks when prices go up they always go down in Florida

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.

[Grunt 1946]

I just read, for the first time in the history of Real Estate in America, there are more Real Estate Agents than homes for sale.

[DAVES]

Originally Posted by Dr Winston O Boogie jr

From where does this information come?

All this sort of information is of little value. Even the source is of little value. Real Estate is local. In the Villages there is a shortage of homes for sale and plenty of buyers.

In the villages and perhaps everywhere there are people who shop for sport. Far less than diner.

[Koapaka]

Originally Posted by DAVES

All this sort of information is of little value. Even the source is of little value. Real Estate is local. In the Villages there is a shortage of homes for sale and plenty of buyers.

In the villages and perhaps everywhere there are people who shop for sport. Far less than diner.

BINGO above poster!

In todays paper one of the Real Estate Companies commented today that resale inventory is down more than 75% from this time last year.....so for the OP of this thread, it is not the cost of homes, it is the AVAILABILITY that is slowing sales here in TV.

[DAVES]

Originally Posted by Grunt 1946

I just read, for the first time in the history of Real Estate in America, there are more Real Estate Agents than homes for sale.

Not surprising or disturbing. Stocks for example there are more funds than there are companies traded.

You pass a test, you pay the fee and you are an agent.

We were in our previous home for 40 plus years. I read somewhere that the average is six years between moves. Fuzzy math, of course it is but 40 divided by 6- seven lost sales commissions on us. We are bad for their business.

[APovi]

" THIS I HOPE WILL STOP THE GREED OF SELLERS"

So you'll sell your house for what you paid?
Post your address, so I can send you a contract!

[Vermilion Villager]

Originally Posted by ThirdOfFive

It is not so much what you're buying (or selling) but WHERE you are buying or selling.

Our home in Minnesota gained over $50,000 in value in the space of a few months. We were located in a small town about 50 miles from Minneapolis. When the riots happened in Minneapolis and St. Paul there was an exodus of people from those cities and our little town became a bedroom community for people who worked in Minneapolis but who decided that continuing to live there was not worth the risk. Interestingly enough our house sold for substantially more than the asking price, and in the space of three days. It was our ticket to The Villages, so to speak.

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!

[Wdixied]

We were there last month looking to purchase a home. This was our second time there looking. I agree with pricing being outrageous. Also the realtors will sell you anything. While we were there we saw a home we really liked but had some near future structural issues. Some of the new homes looked like they used leftover building materials to design and nothing matched. Needless to say, we went home very discouraged.

[Pat2015]

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

I don’t think the housing market has slowed down as there’s still little inventory in most markets and mortgage interest rates are still at all time lows. The question is will the prices that sellers are getting now become the comps/going price in neighborhoods in the next couple years or are buyers buying high now just to find that they have negative equity in the years to come?

[davem4616]

TV is seen as a very desirable place to live by many...no surprise that prices are higher than the rest of Florida

having had a 2nd home in Ft Lauderdale for 20 years I can assure you whatever extra money it costs to buy a home in TV is totally worth it

[vintageogauge]

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. No upgrades/renovations. Nothing. Just a fast flip. And people are buying!

There is nothing wrong with what they are doing, that's a business that is quite common. Don't forget they also take the chance of the values going down at some point so it is a bit of a gamble for them.

[KRMACK55]

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

That’s not true at all. There are still markets going strong and it’s not greed. Houses selling in the south for the weather, last years market soft during Plandemic ! Sound jealous