Real Estate Mkt / Coronavirus

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  #1  
Old 03-16-2020, 04:58 PM
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N44125 N44125 is offline
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Default Real Estate Mkt / Coronavirus

What do you think? Will the Coronavirus have an adverse affect on the Real Estate market? Will sales go down? Will prices be depressed?

Just curious........
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Old 03-16-2020, 05:26 PM
patfla06 patfla06 is offline
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I would say yes to both.
The stock market has taken a huge hit and with no end in sight.
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  #3  
Old 03-16-2020, 05:37 PM
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Sales will slow down due to people not traveling, prices will remain stable unless this goes on for a very long time.
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Old 03-16-2020, 06:52 PM
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Developer will reduce new home prices to reduce over build inventory and the domino effect will follow
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  #5  
Old 03-16-2020, 09:05 PM
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Quote:
Originally Posted by N44125 View Post
What do you think? Will the Coronavirus have an adverse affect on the Real Estate market? Will sales go down? Will prices be depressed?

Just curious........
I have been thinking about this also. I am guessing the Villages Developers are starting to get more than a little bit nervous about this. Think about it, let’s go all in on doubling the size of the Villages, buy lots of land and start a massive expansion. Why not, the retiring baby boomers are experiencing rapid growth in their retirement accounts from the prolonged bull stock market and are incredibly optimistic about their prospects. And many of them also have juicy defined benefit pension plans. These boomers will have no problem paying a premium for our active lifestyle.

Now, all of a sudden, those once opportunistic potential homebuyers are watching their retirement dreams evaporate into thin air, and if they have a clue, should also be very worried about the viability of their defined benefit pension plans. And many may now be reconsidereing when they can afford to retire, no less buy a second home. Not a good time to mortgage our future on a dream retirement home that we can snowbird to until we someday become frogs. I suspect many future frogs will be doing their croaking up north.
  #6  
Old 03-16-2020, 09:09 PM
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Wish I owned a cemetery in which I could raise the price of the lots I had to sell.
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Old 03-16-2020, 10:52 PM
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Wish I owned a cemetery in which I could raise the price of the lots I had to sell.
Better to own a whatever it is that does cremations. That seems to be the way things are going these days.
  #8  
Old 03-16-2020, 10:58 PM
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Better to own a whatever it is that does cremations. That seems to be the way things are going these days.
A crematorium? No thanks.
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  #9  
Old 03-17-2020, 12:06 AM
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Absolutely yes.

I was in that situation a few weeks back with a pending sale, and now I have delayed my move as I wait to see what happens to real estate prices all round. I'd also much rather put my money to work in the stock market given the bargains that are out there now.
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Old 03-17-2020, 04:58 AM
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Absolutely yes.

I was in that situation a few weeks back with a pending sale, and now I have delayed my move as I wait to see what happens to real estate prices all round. I'd also much rather put my money to work in the stock market given the bargains that are out there now.
I agree that home sales will slow drastically, and not only real estate but luxury items such as boats, RV's, and even automobiles to an extent. The coronavirus is definitely a factor but also due to the stock market tanking. People who are invested in the stock market have lost wealth, if even on paper until they sell, and this is a huge factor.

I have been re-allocating my investments by selling bonds and buying stock. There are bargains to be had if one has the timeframe to wait for the market to come back, which it will.
  #11  
Old 03-17-2020, 05:17 AM
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There are always a lot of homes for sale at The Villages and lots being purchased. However, I’m expecting a sudden glut of hundreds more than usual being sold by estates and children. This means more buyers will be bidding below the asking price and getting it. But if you’ve lived in TV for ten years, the selling price of your home has probably doubled.
  #12  
Old 03-17-2020, 05:43 AM
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There was a shortage of inventory across Florida. 3.3 million short. Very low inventories here. People still want to come. May have choices short term, but I believe it will rebound. Younger people want to buy homes in family neighborhoods, so I believe baby boomers will have opportunities to sell their homesteads and come here.
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Old 03-17-2020, 06:09 AM
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Absolutely, if the virus hits TV, and there are lots of deaths--heirs will be unloading the properties; especially if they have not intention of moving here and the big IF, who would want to live in a house that a person died from Coronavirus
  #14  
Old 03-17-2020, 06:15 AM
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There is the wealth effect of the stock market,when they look at their portfolio and see it has shrunk by a third, they will no longer have the confidence to buy a second or retirement home. Also if this pandemic boomarangs, and all group activities are suspended again, why buy in TV. Other areas will become more attractive, prices will drop here as well as we enter a deep recession
  #15  
Old 03-17-2020, 06:30 AM
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I just bought a lot and they sure don’t go down. I guess I can watch inventory prices and switch to one of those, if desired!
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