[darbyduff]

Hello back AztoFla,

Your right about it being a "privilege to live in Colorado"! Been living here for 40 years. Came from Minnesota. It would be wonderful to stay in Colorado BUT TV is in Florida! There is nothing even close to TV anywhere in Colorado! The lifestyle plus the weather is how we wish to spend our retirement years. Here I would be able to play golf with the ladies at our club but when we want to play cards, learn to paint, join a drama club, learn to dance, or where ever our fancy takes us....we have to drive all over town!!! (We live in Aurora) Grandkids are here so we'll visit!

I really appreciate your insight on the Real Estate market!!! Really a lot to chew on!

Question..Would it be worth persuing the "For Sale By Owner" someone mentioned earlier? Any more information on that!!

[Travel Master]

NATIONAL STATISTIC NATIONAL ASSOCIATION OF REALTORS

70% Of For Sale By Owners end up using a realtor. When you list with a realtor you get national exposure, REALTOR.COM, and if the company is a national franchise you have thousands of possibilities. It is all about timing, and the market is so bad right now even realtors are having trouble moving inventory.

The average home in the MLS in the Villages is about $145-$155 a sq ft.

GOOD LUCK.. Hope to see you soon in The Villages

[az2fla]

If you're unable to click on the following link, just copy and paste to your address bar.

For some folk moving to The Villages, renting may be a consideration while this situation plays itself out. Of course, there are those who have already listed their homes in TV and are willing to wait it out, as well. Unfortunately, they will continue to pay the fees, bond, taxes and more and, in the end, may have to watch home prices fall even further. Profits have been made for those who purchased years ago. The smart money would say to take those profits now if you've decided to move away.



http://biz.yahoo.com/ap/070725/mortgage_woes.html?.v=4

[darbyduff]

Who's buying up all these foreclosers? :dontknow:

Here in Colorado we have a very good economy and are one of the lowest unemployment states. Yet the foreclosers are getting worse. And they are entering the million dollar market!! Our Realtor also works for CountryWide on the side and he said he's seeing more and more foreclosers in the high end neighborhoods.

Somebody's getting steals!!!!!

[az2fla]

That's the problem Darbyduff! No one's getting any steals on these foreclosures. That is, not yet! The banks are getting these properties back onto their balance sheets and when they start releasing them onto the marketplace that is when the deals will be made. At that point, those who have homes to sell will have to compete with the newly "released-to-the-marketplace" foreclosures. Guess what happens....prices will tumble! I moved to the Denver area in the late 80's. You will recall the housing recession there due to the exiting of the main industry at the time in Colorado - the oil/energy industry. There were HUD 4-Sale signs on every corner. It was a great time for buying but not for selling. You'll recall it took about six years for that situation to work itself out. Those who had to sell were happy to get a buyer; any buyer. The sellers were like Henny Youngman: "Take my house, please!" The price didn't seem so important anymore.

And The Villages will not be immune to this. There may not be a large number (or even any at all) of foreclosures in TV, but, if someone wants to sell, there will be fewer buyers. Answer: prices fall in TV, as well.

Remember that the banks and mortgage companies are not in the home ownership business; they're in the money-lending and money-making business. They must recoup as much as possible. If that means turning over a property for 50 cents on the dollar, they'll do it. They cannot hold these properties on their balance sheets for ever. Now, more than ever, is a time to price your property correctly. Nobody is going to get what they thought they would for their house. Nobody! Resales in The Villages will eventually reflect the price drop that the rest of the nation is experiencing. The Developer knows this and has been discounting inventory for some time now and will continue to do so.

Fortunately for the nation employment is still robust and taxes on businesses and employees are reasonable. Should the geniuses in Washington change that by raising taxes during a time like this, recession will be a certainty and most people will not, under any circumstance make a purchase as large as a home. Uncertainty about jobs will keep most everyone from making any major purchases.

What we think are ridiculously low prices today may end up being a rational price a year from now. In the meantime, a seller would have continued paying fees, taxes, bond, etc for another year and end up selling for a price they could have gotten this year. It would be great if this housing implosion had not occurred. But it's a different time now so we have to adjust our thinking.

[az2fla]

Congratulations are in order for you Oshunluva. You obviously had your condo priced correctly and a listing today of only 3 and a half months is as you say "not too shabby". Save me a seat at Town Square for the happy hour!

[darbyduff]

Az2fla,

Wow, you make all the sense in the world!! Unfortunately. :'(

Now our house is listed at the price that is consistant with what other homes have listed for in other parts of the Denver area... But the problem for us..even though our home is unique and larger than others around us...we have only lived in it 9 years. So, we do not have a lot of equity in it. Those that are selling around us are pricing way way below us because they have such a low mortgage. Why buy our "higher end" home when you can buy those around ours so inexpensively and put everything we have in ours into their new home and still come out way ahead!

We maybe could come down a bit more if the TV homes would sell for a much lower price also. Just don't see it happening yet!!

When I went through the HUD epidemic in the 80's, I had just purchased a townhome in Aurora (I know, I know) for $65,000. Less than 1 year later you could have picked up the same model around the corner from me (HUD) for $32,000. I sold when I met my husband in 1999 and it sold in 1 day at the price of $95,000.

[scottke]

Oshunluva, Congrats on the sale - there is hope for those of us who are trying to move. Keep a seat warm for us too at the square.

[az2fla]

Darbyduff,

I believe that you, like Oshunluva and Teddy (on another thread), will be letting us all know that you have successfully sold your home and will be heading East for The Villages. Fortunately, the homes in TV are all so similar that you should be able to negotiate a fair price. Try not to "fall in love" with any one house. Remember that it IS just a house and not a home. There are sellers in TV just as motivated as sellers in Aurora. Many have made a spectacular profit. Set a price you're unwilling to go above and stick with it. Remember that you have discounted your home and expect the same on the other side of the equation. Some people will, under NO circumstances, take less than they believe their home is worth. They'll be seeing strangers walking through their home for a long time to come. What is so great about TV and the people who live there is that very few seem to need a "special" house to impress their neighbors. They all have great fun together in the Rec. Centers, the driveway parties, the Town Squares, Katie Belle's, should I keep going?? In other words, these folk have it all together. The house is strictly for shelter and peace and quiet after a night out on the town. In charity I ask: so what if, as you have said, you have a "higher end home" in Aurora. Much of your entertaining with friends and family took place in that home. In The Villages entertaining is quite often enjoyed elsewhere.

The Villages is, indeed, a "Lifestyle". I think you and your husband will be celebrating that "lifesyle" real soon. Hey, it won't belong before Aurora is a pleasant memory.
:bigthumbsup:

[darbyduff]

Az2fla,

I don't know who you are, but your post had me bawling like a baby! You have got to be just the coolest person ever. (boy, I sound like some 18 year old "groupie") Wow.!!! :bigthumbsup: :bigthumbsup:

I told my husband about your earlier postings and told him that he just has to read how knowledgeable you are about the over all situation, but over that last couple of days we've been soooo busy. Today when he finishes golf that is the first thing I'm going to have him do. I don't know what it is about you but you really must be a special special kind of person (emphasis on KIND)

I will be reading that over and over again!

Thank you very much for YOU!

[az2fla]

Darbyduff,

I'm red-faced!! :redface:
When we meet at happy hour in Town Square we'll join Oshunluva and celebrate with a few cold ones! :beer2: Be sure to keep us advised as to your progress and I will do the same. Our home goes onto the MLS next week. Don't know how long it'll take but God knows and that's good enough for me.

[F16 1UB]

Damn! I picked a hell of a time to quit drinking. Hey oshun drink a couple for me. We're still waiting to get a bite on the house in Ohio. Nuttin yet. Has to be a relief for you.

Steve

[darbyduff]

Hey, Steve and Az2Fla,


Last one to sell their home is a rotten egg!!!!!!!!! ;D

[az2fla]

Darbyduff,

Well, I've been called worse!! Anyway, I don't know if it's a fair bet since we haven't even listed our home, yet. That will happen next month. Hope things are well in Aurora. You'll soon be trading in your snow skis for water skis; I'm sure of that. Take care and keep the faith.

[az2fla]

Oshunluva,
How about getting into roller-blading? I know they're looking for new water volleyball players, too. Or line dancing in Town Square. Oh, you're going to have plenty to choose from once you get settled. Most importantly, though,.......don't forget the libation you promised me at Happy Hour!!! Please keep the rest of us "Villager Wanna-bees" advised as to your progress. ;D