[dewilson58]

Originally Posted by Stu from NYC

Wow. If I was say 20 years younger would come to you for advise on investing in real estate. At my age not looking for long term investments.

But WAIT, you have not heard my story.
Do you know what I have done in the last year.
This is the internet and everything posted is true.

[Rainger99]

I have to say that the discussion appears to be veering off the topic. The reason that I posted was because I was interested in finding out how good people are - or are not - at predicting the results of the third quarter real estate sales in The Villages.

[Stu from NYC]

Originally Posted by Rainger99

I have to say that the discussion appears to be veering off the topic. The reason that I posted was because I was interested in finding out how good people are - or are not - at predicting the results of the third quarter real estate sales in The Villages.

About as good as time the stock market.

[Stu from NYC]

Originally Posted by dewilson58

But WAIT, you have not heard my story.
Do you know what I have done in the last year.
This is the internet and everything posted is true.

Other than being one of the more frequent posters on here please enlighten me.

[dewilson58]

Originally Posted by Stu from NYC

please enlighten me.

40% over my listing price.
Don't believe everything posted on the internet.

[manaboutown]

Looks like interest rates are tickling 7% now. I wonder how that will affect the sales of the homes of potential Villagers hoping to relocate here.

Housing: Existing home sales drop for 8th straight month in September

[Stu from NYC]

Originally Posted by dewilson58

40% over my listing price.
Don't believe everything posted on the internet.

Oh wise one what can one believe in on the internet?

[Michael 61]

Originally Posted by manaboutown

Looks like interest rates are tickling 7% now. I wonder how that will affect the sales of the homes of potential Villagers hoping to relocate here.

Housing: Existing home sales drop for 8th straight month in September

The vast majority of new buyers are still paying cash.

[manaboutown]

Originally Posted by Michael 61

The vast majority of new buyers are still paying cash.

But most need to sell their homes in other communities in which buyers need mortgages.

[Stu from NYC]

Originally Posted by manaboutown

But most needs to sell their homes in other communities in which buyers need mortgages.

Very true and every often there is a chain of 3 or more houses being sold as part of your transaction.

We had to rush to buy a home here as 3 other families would have been homeless for some period of time if we did not get out in time so others in the chain could move in

[Rainger99]

Interesting article from Money.com. It states that the average rate on a 30-year mortgage is now approaching 7% and the monthly mortgage payment on a median-priced home has gone from $1,698 to $2,559.

The Rate of Sellers Dropping Home List Prices Hits New High | Money

We will see what impact it has on The Villages.

A $500,000 mortgage at 3.5% $2278.

A $500,000 mortgage at 7% is $3327.

This doesn't include taxes and insurance.

[Nucky]

Originally Posted by manaboutown

Looks like interest rates are tickling 7% now. I wonder how that will affect the sales of the homes of potential Villagers hoping to relocate here.

Housing: Existing home sales drop for 8th straight month in September

Let's keep them there house sales dropping for another 30 to 45 days please, pretty please.

manaboutown I believe you about your deal fully. We are liquidated on real estate in New Jersey but just pulled off a deal of a lifetime somewhere else on the east coast. It even shocked me. Two Surgeons who knew each other went head to head on a beautiful flawless home. There were 7 offers on day one. The others dropped out when the competition between these two started. One of them bid the house up just shy of $200,000. That's a cash deal with no contingencies or inspections. Done in 10 days. I promise you there is no exaggeration in my story. It was nuts 6 months ago.

I'm glad you smoked 'em on your deal manaboutown.

[manaboutown]

Originally Posted by Nucky

Let's keep them there house sales dropping for another 30 to 45 days please, pretty please.

manaboutown I believe you about your deal fully. We are liquidated on real estate in New Jersey but just pulled off a deal of a lifetime somewhere else on the east coast. It even shocked me. Two Surgeons who knew each other went head to head on a beautiful flawless home. There were 7 offers on day one. The others dropped out when the competition between these two started. One of them bid the house up just shy of $200,000. That's a cash deal with no contingencies or inspections. Done in 10 days. I promise you there is no exaggeration in my story. It was nuts 6 months ago.

I'm glad you smoked 'em on your deal manaboutown.

Thank you Nucky! Good to hear about the dueling surgeons...lol! These are crazy times and I just got beyond lucky. Believe me, I have had my share of so-so deals to a few that went bad, resulting in litigation in one case (which I lost). As my high school physics teacher used to say "You can't win 'em all.".

[KAM+6]

Originally Posted by Michael 61

The vast majority of new buyers are still paying cash.

Yes, but are they able to sell their house up north with buyers that probably have a 3% and now would be paying over 6%.

[Aces4]

Originally Posted by Nucky

Let's keep them there house sales dropping for another 30 to 45 days please, pretty please.

manaboutown I believe you about your deal fully. We are liquidated on real estate in New Jersey but just pulled off a deal of a lifetime somewhere else on the east coast. It even shocked me. Two Surgeons who knew each other went head to head on a beautiful flawless home. There were 7 offers on day one. The others dropped out when the competition between these two started. One of them bid the house up just shy of $200,000. That's a cash deal with no contingencies or inspections. Done in 10 days. I promise you there is no exaggeration in my story. It was nuts 6 months ago.

I'm glad you smoked 'em on your deal manaboutown.

I totally believe you, Nucky, our bidding war was nice but nothing like that!