Resale home prices (asking) are sky rocketing

» Site Navigation
Home Page The Villages Maps The Villages Activities The Villages Clubs The Villages Book Healthcare Rentals Real Estate Section Classified Section The Villages Directory Home Improvement Site Guidelines Advertising Info Register Now Video Tutorials Frequently Asked Questions
» Newsletter Signup
» Premium Tower
» Advertisements
» Trending News
» Tower Sponsors




















» Premium Sponsors
» Banner Sponsors
» Advertisements
Closed Thread
Thread Tools
  #16  
Old 03-07-2015, 12:04 PM
2BNTV's Avatar
2BNTV 2BNTV is offline
Sage
Join Date: Mar 2010
Posts: 10,696
Thanks: 1
Thanked 114 Times in 46 Posts
Default

I bought in August 2013 when patio villa's when in low inventory but I paid a reasonable price. Since then I believe the "Daily Sun", had stated prices increased about 27%.

I have seen two homes purchase at way above, what they should have sold for.

If you are going to wait three years before buying, you may pay more, if build-out is completed, assuming you want to purchase, a brand new home. I also tend to believe the pre-owned homes will be worth more, after build-out. As always, the market will determine the selling price. If you are like me, you will go crazy trying to figure out all of the variables in buying a home. I tend to have developed the "paralysis of analysis".

I believe some home owners are capitalizing on the fear of some people wanting to move here, by asking for much more, than their home is worth. JMO

One thing that has helped me to buy here is, "what is it worth to get on with the rest of your life"?
__________________
"It doesn't cost "nuttin", to be nice". MOM

I just want to do the right thing! Uncle Joe, (my hero).
  #17  
Old 03-07-2015, 12:08 PM
dewilson58's Avatar
dewilson58 dewilson58 is offline
Sage
Join Date: May 2013
Location: South of 466a, if you don't like me.......I live in Orlando.
Posts: 7,736
Thanks: 489
Thanked 4,741 Times in 1,806 Posts
Default

May pay more in two or three years, or...............


Quote:
Originally Posted by manaboutown View Post
Is there a bubble within the bubble?
  #18  
Old 03-07-2015, 02:25 PM
otherbruddaDarrell's Avatar
otherbruddaDarrell otherbruddaDarrell is offline
Veteran member
Join Date: Sep 2009
Location: Indiana,the Villages,Port Charlotte fl ,Summerfield fl, The villages again
Posts: 501
Thanks: 0
Thanked 0 Times in 0 Posts
Angry

Too many homes are priced higher then what they are worth. We made an offer on one about a month ago and they countered. We in turn made another offer which they declined. They were $5000 higher then we were willing to pay.
Now in the past week they raised the price of the home up $5000 in the hopes that someone will offer what they wanted in the first place.
Many of the manufactured homes are being offered at a price where you should be able to get a nice stick built with a garage.
They are trying to get the snowbirds to buy before they go back home.
As long as people are foolish enough to pay too much money they will continue to price them too high.
  #19  
Old 03-07-2015, 02:29 PM
dewilson58's Avatar
dewilson58 dewilson58 is offline
Sage
Join Date: May 2013
Location: South of 466a, if you don't like me.......I live in Orlando.
Posts: 7,736
Thanks: 489
Thanked 4,741 Times in 1,806 Posts
Default

It's like the old TV show, Hill Street Blues............"Hey, you be careful out there."
  #20  
Old 03-07-2015, 03:20 PM
asianthree's Avatar
asianthree asianthree is offline
Sage
Join Date: May 2011
Location: Pennacamp, Fernandinia 2 Frogs
Posts: 7,152
Thanks: 19
Thanked 1,095 Times in 418 Posts
Default

Quote:
Originally Posted by kittygilchrist View Post
Nobody has data...?
You take the copy of listing keep it when it sells go to site and see what the house really sold for. That way you know how long on the market and what was included in the house. Yes it takes time but if you really want to know that is how I did it. Plus I also knew that furniture was sometimes included, upgrades, and sometimes renters.
__________________
Do not worry about things you can not change
  #21  
Old 03-07-2015, 04:23 PM
JMEZARIC3 JMEZARIC3 is offline
Senior Member
Join Date: Mar 2008
Location: LYNNHAVEN/SWAINWOOD VILLAS
Posts: 269
Thanks: 0
Thanked 0 Times in 0 Posts
Default Resales

Quote:
Originally Posted by Bogie Shooter View Post
I keep an eye on resale Patio Villas in Lynnhaven.Most homes are selling for 3% to 5% below list.During March 2013 Patio Villlas were selling for $140,000 to $147,000.
Today $175,000 to $182,000.
  #22  
Old 03-07-2015, 04:33 PM
rubicon rubicon is offline
Email Reported As Spam
Join Date: Nov 2010
Posts: 13,697
Thanks: 0
Thanked 9 Times in 7 Posts
Default

I bought on a championship golf course in 2006 and have made made several additions, etc. Improvements aside my home is still not worth what I initially bought it for. I believe the OP is not comparing apples with apples
  #23  
Old 03-07-2015, 04:50 PM
Jayhawk's Avatar
Jayhawk Jayhawk is offline
Gold member
Join Date: Feb 2013
Posts: 1,083
Thanks: 1
Thanked 1,107 Times in 310 Posts
Default

Quote:
Originally Posted by T-325 View Post
Still doing my (very expensive) homework as I have a few years left before retirement and am keeping an eye on house prices.

Is it just me... but from what I see lots of house listings have asking prices that are 40% higher than what the houses sold for just 1 - 2 years ago. The new house prices haven't gone up more than 5-10 %(however granite and other up-sells are no longer included)

With another thread recently saying resale house volumes are down... are some sellers getting ahead of themselves. Is anyone seeing big gaps between asking and sales prices?

Will be down at the end of the month to kick a few more tires

T-325 (now 2-3 years out)
Don't pay too much attention to those who say sellers are greedy and over-priced.

While resales through the Villages may be lower than last year, that could be because so many people moved up from one house to a more expensive one last year. That alone would account for fewer this year. Plus another 2,600 NEW home sales have occurred.

Also, a healthy re-sale inventory is 4 months supply. Economists will generally use this as a benchmark.

Based on current re-sale inventory listed with The Villages (463 at this moment), and averaging the number of actual re-sales over the past 12 months (2,094), there is today 2.6 months inventory listed. These are extremely strong sales indicators. It also tracks closely with data provided by Lyle Gant for MLS listings (non-Villages agents). For January and February the average days on the market was 65 days. Again, just over 2 months.

Oh yeah, and the average sale was 97% of the listed price. Not Bad, huh?

2015 Sales

Do your own research, but don't miss out because some people give opinions rather than facts.

  #24  
Old 03-07-2015, 06:59 PM
SALYBOW's Avatar
SALYBOW SALYBOW is offline
Platinum member
Join Date: Apr 2010
Location: The Villages, fl
Posts: 1,522
Thanks: 0
Thanked 0 Times in 0 Posts
Send a message via Skype™ to SALYBOW
Default Asking prices

As I understand it the asking price is not just a price the seller comes up with but a price that they are advised to use per the Village rep withwhom they are working.

One rep told "me the owners know what their home is worth."
__________________
Sally Bowron
Cincinnati, Ohio; Osceola Hills at Soaring Eagle, TV

When God made me he said Ta Da!
  #25  
Old 03-07-2015, 07:20 PM
JoMar JoMar is offline
Sage
Join Date: Apr 2014
Posts: 4,347
Thanks: 10
Thanked 1,794 Times in 672 Posts
Default

Quote:
Originally Posted by otherbruddaDarrell View Post
Too many homes are priced higher then what they are worth. We made an offer on one about a month ago and they countered. We in turn made another offer which they declined. They were $5000 higher then we were willing to pay.
Now in the past week they raised the price of the home up $5000 in the hopes that someone will offer what they wanted in the first place.
Many of the manufactured homes are being offered at a price where you should be able to get a nice stick built with a garage.
They are trying to get the snowbirds to buy before they go back home.
As long as people are foolish enough to pay too much money they will continue to price them too high.
So if someone prices a house higher than you think it should be priced and someone pays it.....the buyer is foolish? Did you really mean that?
__________________
No one believes the truth when the lie is more interesting

Berks County Pennsylvania
  #26  
Old 03-07-2015, 07:24 PM
dewilson58's Avatar
dewilson58 dewilson58 is offline
Sage
Join Date: May 2013
Location: South of 466a, if you don't like me.......I live in Orlando.
Posts: 7,736
Thanks: 489
Thanked 4,741 Times in 1,806 Posts
Default

Quote:
Originally Posted by Jayhawk View Post
Don't pay too much attention to those who say sellers are greedy and over-priced.

While resales through the Villages may be lower than last year, that could be because so many people moved up from one house to a more expensive one last year. That alone would account for fewer this year. Plus another 2,600 NEW home sales have occurred.

Also, a healthy re-sale inventory is 4 months supply. Economists will generally use this as a benchmark.

Based on current re-sale inventory listed with The Villages (463 at this moment), and averaging the number of actual re-sales over the past 12 months (2,094), there is today 2.6 months inventory listed. These are extremely strong sales indicators. It also tracks closely with data provided by Lyle Gant for MLS listings (non-Villages agents). For January and February the average days on the market was 65 days. Again, just over 2 months.

Oh yeah, and the average sale was 97% of the listed price. Not Bad, huh?

2015 Sales

Do your own research, but don't miss out because some people give opinions rather than facts.


May not want to post that link............the numbers don't calculate correctly.
  #27  
Old 03-07-2015, 07:30 PM
dewilson58's Avatar
dewilson58 dewilson58 is offline
Sage
Join Date: May 2013
Location: South of 466a, if you don't like me.......I live in Orlando.
Posts: 7,736
Thanks: 489
Thanked 4,741 Times in 1,806 Posts
Default

Quote:
Originally Posted by rubicon View Post
I bought on a championship golf course in 2006 and have made made several additions, etc. Improvements aside my home is still not worth what I initially bought it for. I believe the OP is not comparing apples with apples
I agree.................prices have come up and continue to, but we are not back to 2007 prices.
  #28  
Old 03-07-2015, 09:41 PM
otherbruddaDarrell's Avatar
otherbruddaDarrell otherbruddaDarrell is offline
Veteran member
Join Date: Sep 2009
Location: Indiana,the Villages,Port Charlotte fl ,Summerfield fl, The villages again
Posts: 501
Thanks: 0
Thanked 0 Times in 0 Posts
Default

If they want to throw away money on an overpriced home it is ok by me. We will wait and keep looking.
  #29  
Old 03-08-2015, 12:14 AM
Miles42 Miles42 is offline
Veteran member
Join Date: Aug 2013
Location: Lower Burrell, Pa. Fishers, IN.
Posts: 665
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Homes prices as with anything else are only worth what others are willing to pay. You can ask for the moon and wait forever or be realistic and go for a fair market selling price.
  #30  
Old 03-08-2015, 04:34 AM
asianthree's Avatar
asianthree asianthree is offline
Sage
Join Date: May 2011
Location: Pennacamp, Fernandinia 2 Frogs
Posts: 7,152
Thanks: 19
Thanked 1,095 Times in 418 Posts
Default

Quote:
Originally Posted by otherbruddaDarrell View Post
If they want to throw away money on an overpriced home it is ok by me. We will wait and keep looking.
If you find the right home with the right view and in the village that you want to live in I don't think you are throwing away money. We bought the first two houses because it was what we wanted to spend. The third house was what we dreamed of.
__________________
Do not worry about things you can not change
Closed Thread

Thread Tools

You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 06:31 PM.