[Boomer]

Hey! People north of 466 fix up their houses, too. Geez.

Also -- a few years ago, some of the houses north of 466 were beginning to turn over to new owners who have done updates.

Buyers should take their time and not write off any area of TV based on broad brush painted opinions often found on TOTV.

[Finchs]

You answered your own question. If you wait another 3 years, what do you expect to happen?

[MrFlorida]

High demand, and low interest rates, buy now before you get priced out of the market altogether.

[Villagesgal]

Ok. I have no idea of what you can afford or what you're looking for in a house. There are still good deals to be had, but they probably won’t be your dream home when you buy. There are bank owned properties in the Villages, foreclosures mostly after someone dies with a reverse mortgage the kids can't pay. There are also the occasional good deal because after death or moving mom or dad to assisted living the kids just want to get rid of the house. You can contact local banks and credit unions to find bank owned properties, I have done this, some will give you info, some will not. If you have cash, contact several realtors from several different outside companies, not the Villages Realty, tell them what you're looking for and for what price and make them work for you, if they don't, drop them and go with another realtor who will. I have bought, done light changes to homes and resold for decent profits and I am a single woman in her 60's, so if I can do this, you can, but you have to be willing to be aggressive in your search. It might take you a few buys, fix up, sells till you can get your dream home, but you can get there. Don't listen to all the naysayers who don't want to put any work into getting what you really want, you can do it and who knows, you may get lucky and find a great deal on a home after doing some fix up to that becomes your dream home. Most areas of the Villages are all wonderful to live in with great neighbors and good amenities, don't limit yourself to Fenny and South, all homes in the Villages appreciate in value. I've lived here 19 years, I know because I've seen it, even the manufactured homes on the historic side are worth 5 to 6 times what they were. You will love it here and you can do this if you're willing to do some work at it. Go for it.

[Mmhrdh0529]

There are several reasons for the increase in homes all over the country, material price increases etc.
Also, investment companies such as blackrock have been buying up homes as rental investments. Black rock has around 9 trillion in investments. There is an article today today I read talking about how it might be better for Americans to rent their whole lives. This is a terrible idea and against the American dream. Most Americans own their homes before retiring which helps them during their retirement years.
Blackrock has also used this power against corporate board rooms, which has been effective. Exon mobile now has several environmentals on their board. These investment companies are getting way too much power. Imagine the damage they can do against corporations and buying up so many homes.

[sail33or]

There are home flippers in The Villages. I know at least 5. And they are making $300,000 per flip on new houses (not your normal $25-35,000)

$300,000 per flip. So I am saying "BUYERS" are also to blame. They are paying way too much because they want to let someone else put in a pool, Bird Cage, granite, tile, ourdoor kitchen, etc. It cost the flipper $100,000 and they sell the house in 6-10 months for a $300,000 profit.

Advice to new buyers. Buy new and put your own improvements in. Prices are going up but not $300K worth. Also, note if the house has a swamp or collection pond in the rear yard it will cost you extra.

[kkingston57]

As bad as it may be, It is worse in other parts of the country. We sold a home to a person in south Fl. in October 2020. We did not know he was a "flipper" and he sold it for 10% higher in February 2021. Villages are still reasonable compared to other parts of Florida. Good luck. Noted lumber prices are now going back down. Hopefully builders will lower their prices.

[sail33or]

Real Example from last week: Couple buys Indigo Model for $380,000.

They move in and install pool, birdcage and outdoor bar. Change out floor to tile. Install specialty light fixtures. Cost ($120,000) So now they are into it for $500,000. They sell it in 3 days for $799,900.($299,000 profit less Real Estate Fees that The Villages gets half)

They now are buying another $380,000 house and repeating the process. Why are people paying $799,000 for a $1,950 sq ft house with pool? Look in the paper, The Villages are now selling new Designer non enclosed Lanai Homes for $750,000. I think they got wise.

[coconutmama]

Originally Posted by MrFlorida

High demand, and low interest rates, buy now before you get priced out of the market altogether.

Totally agree. Hopefully the home the OP currently lives in is owned by her & sells at a high price, to offset the housing market prices here.

[Gulfcoast]

It's like this all over Florida, people are coming here because our state is open, taxes are low, the weather is warm and we have a sane Governor. Retirees in the over 55 age range are especially drawn to The Villages because it is a nice safe haven away from some of the craziness in the rest of the country. Home prices in TV are still fairly reasonable when compared to other retirement communities. You get a lot of bang for the buck in TV.

[jimjamuser]

Originally Posted by Penglobal

Hello All - I'm Susan, from Lancaster, single and have finally made the decision to buy a home here in The Villages. I'm currently here in The Villages searching for a home and I'm very amazed by the prices of both new and used homes here.

In the new southern area, homes are selling very quickly, supply is low ( compared to last year ) and new homes prices are just crazy. Used home prices are even worse.

How are you guys dealing with the massive increase in home prices within The Villages?
Should I wait until the prices stabilize?

I can't believe that a new house I saw three years ago when Fenny first became developed is now on sale on the used home market for 40% more in just three years !

I have no idea what to do, please help. Thank You Susan of Lancaster

Rent for a year. High home prices sometimes mean that a recession is right around the corner.

[jimjamuser]

Originally Posted by newgirl

Exactly! In 20 yrs these houses will be family owned or damn near free since we have not replaced ourselves ( birth rate dropped) since the 60's.

I guess you forgot about immigration?

[jimjamuser]

Originally Posted by Penglobal

I thank you all for your input and after reading all your opinions and based on information from my real estate agent, attorney and primarily my gut feeling, I have decided to rent a new home for a year here in The Villages where the owners never moved-in.

BTW - I have closed on all my properties here in the Lancaster area and I hope to see all you guys soon! Thanks


Glad inflation is under control !

Good decision!

[ithos]

The collapse of the housing bubble in 2008 was in large part caused by excess inventory that was made possible by the mortgage industry drastically lowering standards. Lehman Brothers, Wallstreet's love affair with derivatives and phony audits certainly did not help. The tell tale sign was when it was cheaper to rent than to own. That certainly is not the case now.

This time around I believe the next collapse in prices will be caused by an economic depression brought on by double digit interest rates or default on government bonds and the loss of the dollars status as the worlds reserve currency.

Sooner or later mother will be proven right that money doesn't grow on trees.

In order to pay down our national debt you would have to combine the GDP of China, Japan, and India.
The United States owes $68,400 per citizen.
The United States owes $183,000 per taxpayer.
The United States currently has $125 trillion (yes, trillion) in unfunded liabilities.
As of December 2018, only ten countries have worse Debt-to-GDP ratios than the United States.
By 2025, U.S. Interest Payments on the National Debt Will Pass the Defense Budget | The National Interest

[tmzakarian]

We just bought a home in the Villages and are closing this week. We faced the same thing you are facing. We were scheduled to come down on the Village 7 day package and found at least 4 homes we thought were perfect in the weeks before. Figured no problem we would come down and have a look at them. All pending in 24 hrs. Finally found something 2 days before our scheduled departure from Mi, called Spirit changed our flight and flew out 7 hrs later. Put a bid under asking price and got it. There are people asking crazy prices but there are still a few gems that pop up. Not as good as 4 months ago but with the projected increases for the next 12 months still a good deal. Keep looking but act QUICKLY!