[stadry]

if the prices are rising at that rate, evidently many homes are overpriced at the time of listing as there're many price reductions daily on zillow. our next door n-bor had thought our home would sell for $600K. he was very surprised when we said '$540K.'
it had been on market 74d thru tv real estate, not any Realtors.

if i were giving advice, it'd be buy now & rent. tax advantages are still good & your foot's in the door.

you also get a couple yrs to watch / evaluate mgmnt's direction & value offered for tv lifestyle.

remember, NOBODY cares about your $$ but YOU ! ! !

[chrissy2231]

My house increased nearly $59K in 4 years.

[dewilson58]

Originally Posted by Toymeister

. New commissioners will be elected which will correct that problem. Lowering taxes and increasing the fee.

The commissh's elected are going to get an education.


I hope they do well, but lowering taxes of any significance??........

[CoachKandSportsguy]

Originally Posted by stadry

if the prices are rising at that rate, evidently many homes are overpriced at the time of listing as there're many price reductions daily on zillow.

if i were giving advice, it'd be buy now & rent. tax advantages are still good & your foot's in the door.

you also get a couple yrs to watch / evaluate mgmnt's direction & value offered for tv lifestyle.

I would second this advice, and that has been our strategy as well, with a fully paid house in New England, which is worth more than the mortgage in tv, we invested as a rental for now.

The other mistake to make is to assume that the house, in which you live, is considered an investment. Your house is not an investment, regardless of what marketing and sales will tell you. A house is an illiquid asset, but not an investment, unless you are renting it out collecting income

Sorry, But Your Home Isn't an 'Investment' - The Simple Dollar

The word investment is used in a lot of different contexts and can mean a lot of different things. But from a purely financial perspective, this definition from the Merriam-Webster dictionary works well: “the outlay of money usually for income or profit.”

so from a cost to the purchaser point of view, house prices are currently rising faster than product inflation and with the expectation of slightly higher inflation, prices are predicted/expected to continue to rise at the current rate at a minimum

sports guy

[mydavid]

Originally Posted by westernrider75

We were planning on buying in TV in about 2 years, but are tempted to do it now because of low interest rates and what appears to be prices increasing by about 5-7% annually. Are the prices consistently increasing? Probably most in a new build or newer preowned,

The low interest rates give you more for your money, try to have your bond included in your mortgage or you will pay a much higher rate to have it included your property tax.

[KRM0614]

Actually no they’re not. If you buy new they gouge your but existing homes fell 1% value last month.
Don’t use citizens bank you can get better rates if you shop around, I would look around at otter communities a lot of what you saw here in the past won’t be operational after Covid. Don’t rush I did and regret moving here

[Velvet]

Originally Posted by CoachKandSportsguy

I would second this advice, and that has been our strategy as well, with a fully paid house in New England, which is worth more than the mortgage in tv, we invested as a rental for now.

The other mistake to make is to assume that the house, in which you live, is considered an investment. Your house is not an investment, regardless of what marketing and sales will tell you. A house is an illiquid asset, but not an investment, unless you are renting it out collecting income

Sorry, But Your Home Isn't an 'Investment' - The Simple Dollar

The word investment is used in a lot of different contexts and can mean a lot of different things. But from a purely financial perspective, this definition from the Merriam-Webster dictionary works well: “the outlay of money usually for income or profit.”

so from a cost to the purchaser point of view, house prices are currently rising faster than product inflation and with the expectation of slightly higher inflation, prices are predicted/expected to continue to rise at the current rate at a minimum

sports guy

Depends on where you are. The homes in my area up north appreciated dramatically. My home sold for 540% more than what I bought it for while salaries during same period increased 82%. If you did not buy a home several years ago you not only can’t afford to buy one today unless you are in the top percentages of earners but would have difficulty even buying a 2 bedroom condo in this area. One of my best investments was buying property. Worked even better for Mr. Schwartz.

[vintageogauge]

Originally Posted by KRM0614

Actually no they’re not. If you buy new they gouge your but existing homes fell 1% value last month.
Don’t use citizens bank you can get better rates if you shop around, I would look around at otter communities a lot of what you saw here in the past won’t be operational after Covid. Don’t rush I did and regret moving here

You are one of the very few with regrets, these homes are still selling like hot cakes even with Covid doing it's thing.

[stadry]

unless you move into a 'fixer-upper', update it, sell, & move into another fixer-upper' as a regular biz plan, personal homes should not be considered income producing,,, while there are some who live this lifestyle, generally agree our homes are not investment properties

[Dust Bunny]

Buy now inflation is coming! It is a result of the Fed's printing all that money for the bail out.

[Becca9800]

Same. We've been looking since Jan 2019 with intention to buy in Summer 2021. With costs going up (I've watched it real-time) and interest rates so low, we bought and will close the deal at the end of this month.

[Gulfcoast]

Prices seem to be going up in Florida, in general. It's almost as if people are fleeing here and I'm only exaggerating a teeny bit when I say that. We currently live in Florida so I anticipate that our current home will increase in value relative to the increase seen in TV. I don't feel rushed into buying right now.

[dzine]

Originally Posted by JohnN

yes, the prices are going up. 5-7% per year is probably about right.

After 9 years here, I do remember joyously watching prices rise the first 3-4 years. However, then there were 2 years where they fell drastically. Don't forget the laws of real estate ownership. We are not immune.
In fact, there was a time during last big RE recession when many subcontractors went bust due to Villages fall in sales. All depends on how many years you have.

And many here say it is hard to break even on rentals due to the overhead. Bond + interest, ammentity fees, insurance, re tax increases, lawn/ landscape/ pest control fees. About $1000 with utilities/ irrigation on top of mortgage.

[melpetezrinski]

"The other mistake to make is to assume that the house, in which you live, is considered an investment. Your house is not an investment, regardless of what marketing and sales will tell you. A house is an illiquid asset, but not an investment, unless you are renting it out collecting income"

I wouldn't be too sure about that statement.


"The word investment is used in a lot of different contexts and can mean a lot of different things. But from a purely financial perspective, this definition from the Merriam-Webster dictionary works well: “the outlay of money usually for income or profit.”

Exactly! Take your expenses related to your house (insurance, property taxes, amenity fees, water, sewer, irrigation, garbage, electric, gas, etc.) and see if that exceeds a 5-7% return on the value of your home. Mine doesn't and it isn't even close, so for me and probably many others, a house IS an investment. It might not be a wise, financial investment but a house CAN be an investment by definition.

[Velvet]

You can borrow against home equity, as a last resort. I find that in general if you buy in a desirable area (location, location, location) and with an increasing demographic for that area, the prices have to increase in the long run.