[kkingston57]

Originally Posted by Susan1717

Homes sales are slowing everywhere. We also have a beach condo on the water in southern florida. Been looking to upgrade that one to a larger condo and see many desirable ones on the market for over 100 days! That’s unheard of. Updated waterfront property used to sell within days or weeks. I’m thinking it is the poor economy, high inflation, and high interest rates.

Forgot to include high and/or unpredictable insurance rates, especially near the coast. Also since the building collapse in the Miami area a lot of people do not want the hassles that condo living entails.

[kkingston57]

Originally Posted by Ken D.

Waterfront during hurricane season may play into your equation.

Also homeowners insurance 4-5X more expensive and getting worse.

[tophcfa]

Let’s hope prospective residential home buyers have smartened up and are backing away from buying homes commingled among a bunch of short term rentals. That would be the absolute quickest way to finally get something done to address the ever growing short term rental problem.

[kkingston57]

Originally Posted by Nansim

That is absolutely not true. Management does not dictate location for sales.

Management is only interested in new sales and listings for non new homes that they are the listing agent. When we moved here, we wanted an established neighborhood and our agent only could show us houses that they were the listing agent.

[manaboutown]

Originally Posted by Nansim

That is absolutely not true. Management does not dictate location for sales.

My first VLS agent evaded showing me even one resale home after multiple requests and steered me to brand new spec homes.

[margaretmattson]

Originally Posted by manaboutown

My first VLS agent evaded showing me even one resale home after multiple requests and steered me to brand new spec homes.

We were working with a VLS agent for a couple of months. Each time, he showed us the new spec homes but no resales. He kept telling us resales are more expensive and not worth looking at. I started working with an MLS agent and found the reverse to be true. The resale home that we are currently under contract cost us much less than new with a beautiful view as a bonus. Landscaping, gutters, epoxy garage already complete. It pays to be patient and to use two realtors.

[Stu from NYC]

Absolutely

[justjim]

Originally Posted by JGibson

High-interest rates will do that. Not everyone can pay cash.

High interest rates, uncertain economy, 3% mortgage where a person currently lives and an undeveloped commercial area of The Villages are all legitimate reasons a person might pass right now on a new home in The Villages.

[Justputt]

Originally Posted by margaretmattson

We were working with a VLS agent for a couple of months. Each time, he showed us the new spec homes but no resales. He kept telling us resales are more expensive and not worth looking at. I started working with an MLS agent and found the reverse to be true. The resale home that we are currently under contract cost us much less than new with a beautiful view as a bonus. Landscaping, gutters, epoxy garage already complete. It pays to be patient and to use two realtors.

One of the first things our agent asked was if we wanted to look at resales. We said if the location is right, no carpet, not a kissing Liani, not near anything noisy, and price was right, yes, but what we noticed was the resale houses we could be interested in cost more per square foot than new, presumably because they were in an established neighborhood closer to the squares. We checked Zillow and Realtor too for sales not covered by TV agent. And, IMO, the older original area homes are not nearly as updated, plain bathrooms, etc., and would cost $$$ to remodel.

[rsmurano]

The developers will sell every house they build. It might take a little longer but Florida is in demand. If you want a deal, but in NY, NJ, California and Oregon. When we drive around the Newell area, everything is sold that can be sold. They are at 470 now.
We have sales in the $1M-$1.6M range in our village, and these are just designer homes.
I have 1 friend here that has moved 7 times, and a few others that have moved a few times, so I think he average could very well be 3 times a typical homeowner moves in the villages.

[Marathon Man]

Originally Posted by tophcfa

Let’s hope prospective residential home buyers have smartened up and are backing away from buying homes commingled among a bunch of short term rentals. That would be the absolute quickest way to finally get something done to address the ever growing short term rental problem.

I am hoping that prospective buyers find and purchase a home so that they can join our wonderful community. It is not on them to address something before they even move in.

[margaretmattson]

Originally Posted by Justputt

One of the first things our agent asked was if we wanted to look at resales. We said if the location is right, no carpet, not a kissing Liani, not near anything noisy, and price was right, yes, but what we noticed was the resale houses we could be interested in cost more per square foot than new, presumably because they were in an established neighborhood closer to the squares. We checked Zillow and Realtor too for sales not covered by TV agent. And, IMO, the older original area homes are not nearly as updated, plain bathrooms, etc., and would cost $$$ to remodel.

No remodeling needed. Gorgeous granite countertops, LVP floor, newly painted inside and out and an extended lanai. It took us 8 months to find THE ONE. In the end, our patience paid off. I think the reason we got a great deal is most buyers are not interested in the Northern areas. We have been here for 20+ years living near LSL and Brownwood. It was time for a change. This is a new adventure for us. Most of all, we are looking forward to living on a street with no rentals.

[Pat2015]

Move to a smaller house or a new house here,, pay cash, and bank the rest of the money.

[Pat2015]

Originally Posted by MandoMan

“During the past year, The Villages built an average of 134 homes per month, down from its historical average of about 300.”
Prices for used homes began dropping in June of 2022 when interest rates began going up, especially for homes over $500,000. Many people who move here pay cash, but those who need a mortgage have a limit to what they can afford, and with higher interest, those people can’t afford as much. I put my house with a pool on a golf course up for sale three months too late. I was expecting $600,000, but it sold for $525,000. The speed of sales for new houses reflects this.

I sold my house in March of this year (2023) for twice what I paid for it two years earlier when I built it. The first person who walked into see it bought it immediately. Sometimes, it’s timing and location. I was really lucky! As far as new home builds in TV, I’m wondering if you have those numbers reversed. There’s a very brisk pace of new homes being built down south, and I don’t recall seeing housing to this extent being built in 8 years I’ve been here.

[Michael 61]

Originally Posted by margaretmattson

No remodeling needed. Gorgeous granite countertops, LVP floor, newly painted inside and out and an extended lanai. It took us 8 months to find THE ONE. In the end, our patience paid off. I think the reason we got a great deal is most buyers are not interested in the Northern areas. We have been here for 20+ years living near LSL and Brownwood. It was time for a change. This is a new adventure for us. Most of all, we are looking forward to living on a street with no rentals.

Sounds like your patience paid off - congratulations!