[Normal]

Originally Posted by thelegges

Money goes a long way in today’s market. So buy now, hold on to current home, rent low to offset costs, then when market has an upturn sell. Under contract a home can be more desirable

I would rent right now and wait for the home prices to come down further. We are at the end of the big selling season with less than lackluster data. Renting is cheaper now, and it makes you more portable when you do decide to pull the trigger.

[Dakotaboy]

Originally Posted by tophcfa

Real estate values are always driven by supply and demand. Supply is being added very rapidly, buts that’s nothing new in the Villages. Demand for homes has slowed, increasing inventories. My take on slower demand includes the following:

Inflation - This is a very real and significant problem, cutting significantly into people’s disposal income and willingness to purchase a second home (which represents a significant percentage of Villages homes).

Decrease in home values up north - This makes it much more difficult, and risky, for those looking to flip their northern home into a Villages residence.

Floridas outrageously high property and casualty insurance (both homeowners and auto), property taxes, and the bond that comes with many Villages homes - It’s not just the price of homes that buyers must be able to afford, it’s the total package.

Economic uncertainties - These always exist, but seem unusually elevated these days, with new tariff driven inflation and recession fears and a very volatile (not in a good way) stock market. Not an environment conducive to making a significant investment in a home. I suspect many retirees equity in their investment portfolios have a high correlation to their willingness to purchase property.

Investor owned properties- The demand from this segment has slowed for several reasons, which all make a speculative real estate investment more risky than in prior years.

Hurricane burnout - it’s easy to forget about this factor this time of the year, but come mid October it’s fresh in people’s minds. This also effects the homeowners insurance market, which is a previously mentioned problem.

Reduced demand from those outside the USA - Many of these folks appear to be disenchanted and generally pi$$ed off with the USA these days.

Mortgage rates no longer at rock bottom like they were for many years - I suppose this is a deterrent to the segment of buyers not paying cash for their homes.

Just some random thoughts.

Excellent Article!!

[thelegges]

Originally Posted by Normal

I would rent right now and wait for the home prices to come down further. We are at the end of the big selling season with less than lackluster data. Renting is cheaper now, and it makes you more portable when you do decide to pull the trigger.

If there was a home I really wanted in location, and design, I would make an offer now.

Then rent our current home long term unfurnished. 3 years after we sold one of our investment homes. Our average inquiries every year was 20-34.

The rental site has been removed since selling, but I still get 10-15 emails a year inquiring if home is available long term.

[Vernon Hud]

I have heard through the grapevine, that the Villages developer has their people sitting on used property, and only trying to sell new homes.

[Nana2Teddy]

Originally Posted by Bridget Staunton

Not near as high as we used to pay years ago I remember paying 10% and I was glad to pay, just save a little more

Our first home purchase in Sept 1979 in SoCal we had a 13% rate on a $50K home with 20% down. Seemed like a fortune at the time because I’d just become a full time mom, so we were down to one income.

[Ruger2506]

Originally Posted by tophcfa

Good point, lack of quality health care in and around the Villages is a very real issue. Not only could it cause older retirees with health issues to relocate, but potential new residents might finally be waking up to the problem. Adequate quality health was a real issue here several years ago, and it only keeps getting worse as the rapid growth in housing is suffocating the healthcare system.

My wife and I were talking the other day and she mentioned when we are done with Middleton we may leave FL just to be near quality healthcare.

[Jayhawk]

Originally Posted by Vernon Hud

I have heard through the grapevine, that the Villages developer has their people sitting on used property, and only trying to sell new homes.

Fake news.

[dewilson58]

Originally Posted by Vernon Hud

I have heard through the grapevine, that the Villages developer has their people sitting on used property, and only trying to sell new homes.

[Topspinmo]

Originally Posted by Vernon Hud

I have heard through the grapevine, that the Villages developer has their people sitting on used property, and only trying to sell new homes.

Naturally they steer them to new homes cause they are employees of developer who in business selling developed additions that’s where big bucks are not chicken feed on resales.

[vintageogauge]

Originally Posted by Normal

Spare cash may be the real problem soon enough. A Market Crash isn’t welcome by any of us. Most don’t NEED a house in the Villages. Security and safe harbor come first.

If you are going to worry about a Market Crash you might as well dump your home now and go live in an apartment up north. Most of us don't have enough years left to worry about something that most likely will not happen in our lifetime. Spend it while you got it, life is short.

[margaretmattson]

I moved to the Villages when Spanish Springs was the only town square. When LSL was being built, hundreds of residents sold their present home and bought in the new area. Brownwood begins construction, same thing. Hundreds of residents sold their homes and bought new. Presently, the homes being constructed are very near the new Eastport square. Like clockwork, hundreds of residents have listed their present homes and bought new. Fear of missing out is one reason the inventory has exploded. If you glance at the Villages weekly sales, you will notice buyers from Florida are leading the pack by a large margin. Once the Eastport homes are all sold, I expect the inventory to return to somewhat normal.

[CoachKandSportsguy]

Originally Posted by margaretmattson

I moved to the Villages when Spanish Springs was the only town square. When LSL was being built, hundreds of residents sold their present home and bought in the new area. Brownwood begins construction, same thing. Hundreds of residents sold their homes and bought new. Presently, the homes being constructed are very near the new Eastport square. Like clockwork, hundreds of residents have listed their present homes and bought new. Fear of missing out is one reason the inventory has exploded. If you glance at the Villages weekly sales, you will notice buyers from Florida are leading the pack by a large margin. Once the Eastport homes are all sold, I expect the inventory to return to somewhat normal.

mafs: lots of small percentages added together * an ever going number of total houses.

yes, there are people who move throughout the villages as the developed areas are more attractive to most retirees than new houses where the services are yet to be fully developed. Publix in Marsh Bend is overloaded with customers because there is a huge grocery store gap between Marsh Bend and the houses south being built and sold. New Houses cost less than developed areas, and there is a small percentage of people selling houses to cash in on the free capital gains, and rebuying in a newly developed area. . after two times, the newest house might be free (equal to all the tax free capital gains from the prior two houses)

there is a relatively constant percentage of estate sales from deceased villages, and a constant percentage of leaving the Villages for family in other places. The percentages probably bounce around abit around a mean value. . add those percentages up, and multiply by the ever bigger number of houses, and the number of houses for sale will always be increasing in the ever expanding The Villages

[BillyGrown]

Originally Posted by Bridget Staunton

Not near as high as we used to pay years ago I remember paying 10% and I was glad to pay, just save a little more

True, but then we weren’t financing anywhere between a quarter million and three quarter million at 10% interest for a starter home.

[vintageogauge]

Originally Posted by Topspinmo

Naturally they steer them to new homes cause they are employees of developer who in business selling developed additions that’s where big bucks are not chicken feed on resales.

'

Fact, when we bought our home our agent, Beth Pope, took us to all of the re-sales we asked plus some that we didn't know were available, all of them had something that we didn't want so she asked if we would like to look at some new homes and we did so the next day, the 3rd home she showed us was exactly what we wanted and we bought it with no regrets. Theory, also the developer likes to see re-sales sold so that the sellers can then afford to buy another new home which many of them do. Your reply is all theory and no facts.

[BillyGrown]

There are a lot of homes for sale particularly right here in the villages. Take your time and do your homework if you want to move here. Believe me, there is no rush. Houses are for sale everywhere. We love it here and I’m sure the very high inventory of used and new homes is caused by several reasons. If you want a preowned home, you are in the drivers seat.