[tjdmlhw]

Originally Posted by rustyp

FYI The real estate agent netted a 50% increase. Was there any more work involved ?

That depends, the sellers agent only real job was convincing the seller to let him list it. After that, he just sat back and waited for the offers to come in, so his job was a lots easier than in normal times.

On the other hand, the buyers agent probably had to show his clients a lot more homes than he normally would because the ones they wanted were being bought by people outbidding them. He had to submit numerous bids and try to keep his buyers from becoming discouraged and giving up. So he definitely worked harder for his share of the pot.

[Djean1981]

It's wild. Our same house is being sold new at $90k more than we paid this past early-March. Pre-owned, the same model is selling for up to 200k more. I understand supply and demand. However, although my house is nice, I don't think I would pay today's prices. I'm not sure the house is truly worth the current price. If the market changes, some may have regrets.

[rustyp]

Originally Posted by tjdmlhw

That depends, the sellers agent only real job was convincing the seller to let him list it. After that, he just sat back and waited for the offers to come in, so his job was a lots easier than in normal times.

On the other hand, the buyers agent probably had to show his clients a lot more homes than he normally would because the ones they wanted were being bought by people outbidding them. He had to submit numerous bids and try to keep his buyers from becoming discouraged and giving up. So he definitely worked harder for his share of the pot.

Buyers agent or sellers agent which one did not make 50% more than they did two years ago for the same transaction / same amount of work ? Ref post #4.

[JMintzer]

Originally Posted by Djean1981

It's wild. Our same house is being sold new at $90k more than we paid this past early-March. Pre-owned, the same model is selling for up to 200k more. I understand supply and demand. However, although my house is nice, I don't think I would pay today's prices. I'm not sure the house is truly worth the current price. If the market changes, some may have regrets.

Some of that is most certainly due to market inflation. But some of it may also be due to the different lot premiums...

[DAVES]

We all know that homes and the stock market always go up-EXCEPT WHEN THEY DON'T.
Homes are going up for several reasons low mortgage rates, rising material costs, rising labor costs, and rising land costs, Homes are going up everywhere not just in Florida.
Part of the rising cost is due to LEVERAGING. There is no other investment where you can put 20% down and borrow the rest at 3% and put your money into the stock market and make 15-30% on it. Oh and add to this insanity, the average age in the Villages is 70.They cannot deny you a 30 year mortgage due to age.

I do not own rental property. I do wonder what it is like to have a non-rent paying customer evicted. The covid EXCUSE?

I never expected our Villages home would go up. A pleasant surprise IT HAS. An unpleasant awakening. Any place I would move to in or out of the villages has also gone up.

[DaleDivine]

Originally Posted by donassaid

And the tax man, not to mention that your HOA's just went up to $179/mo.

Ummm, NO HOA's in The Villages...

[Jerseybob]

I disagree. If you sell now, your north home is potentially at the top of the market ($800K) and the interest rate is low, you have "made" nothing as you have not sold your home.
If the interest rate rises, your north home may begin to slip in demand (the more interest rates increase, the less home buyers can afford to purchase) and market value may also slip back.
If the north house in theory is later valued at $750K when you decide to sell, you did not "lose" $50K, you just didn't capitalize on the value at this time. It has nothing to do with your potential purchase in FL. The interest rate may be the same in both places, but depending on when, where in FL and what you buy will determine what you consider a "good deal".

[CoachKandSportsguy]

Originally Posted by Garywt

Same thing is happening everywhere. My north house was $200000 in 1995 and is $800000 today but offers would come in $50-100k over asking. If I sell and we are not ready to full time in Florida then I lose.

Not necessarily. You can rent for the small amount of time until you retire. . 50K of rent is like 2 years at 2K per month. . Losing means that you lost all the gain. . .or money. . not quite accurate, but it looks good. . . and with 800K in cash in a 10 year bond @ 1.75 is about 14K per year of interest, which is almost 1/2 the amount of the rent. . . you don't really lose all that much. . . so the 50K in overage and interest makes about 3 years of rent, in rough round figures.

Not sure about your financial situation or work or retirement plans, but sometimes there is a way to keep a large gain. . and my mom's house, just lost 50K in value on Zillow. . . from the max, so gains can disappear as well.

good luck

finance guy

[Garywt]

Originally Posted by donassaid

And the tax man, not to mention that your HOA's just went up to $179/mo.

But we don’t pay HOA fees here in the Villages.

[Garywt]

Originally Posted by CoachKandSportsguy

Not necessarily. You can rent for the small amount of time until you retire. . 50K of rent is like 2 years at 2K per month. . Losing means that you lost all the gain. . .or money. . not quite accurate, but it looks good. . . and with 800K in cash in a 10 year bond @ 1.75 is about 14K per year of interest, which is almost 1/2 the amount of the rent. . . you don't really lose all that much. . . so the 50K in overage and interest makes about 3 years of rent, in rough round figures.

Not sure about your financial situation or work or retirement plans, but sometimes there is a way to keep a large gain. . and my mom's house, just lost 50K in value on Zillow. . . from the max, so gains can disappear as well.

good luck

finance guy

Unfortunately all we can get for $2000 a month is a studio apartment. Going from a 4 bedroom colonial wire 4 people that might not work. We are probably looking at $3400-4000 a month which is more than the mortgage. I am retired but my wife is working. We own in The Villages, 3 years now, but will not rent it out. We have gained about $100000 so far in FL.

[Djean1981]

Perhaps, if they have an extra large lot or water view. To me, my lot is better because it's on a non-through street (quiet and less traffic), we only have neighbors to the left and right (none behind our house). Also, and the yard is fenced. The fence is a deal breaker for me.

[CoachKandSportsguy]

Originally Posted by Garywt

Unfortunately all we can get for $2000 a month is a studio apartment. Going from a 4 bedroom colonial with 4 people that might not work. We are probably looking at $3400-4000 a month which is more than the mortgage. I am retired but my wife is working. We own in The Villages, 3 years now, but will not rent it out. We have gained about $100000 so far in FL.

Well, I certainly miscalculated on trying to maintain the size and number of people while retired. . . . also miscalculated that you still have a mortgage, obviously I have no idea about what I am typing. We refinanced the mortgage up north from near zero to equal to the TV mortgage so TV is debt free, and the northern house is 80% LTV so when moving, whatever is left over, we put in the UHaul, and drive two cars down stopping a lot along the way.

we are up $150K on zillow, and the people are asking ridiculous amounts for similar houses, built $350K, current $500K, people offering $750K for the same nearby. . . good for them, and the rental is break even on all the annual expenses, with no mortgage, but we aren't selling due to the location. .

see you in a few years.

[jrref]

Although housing prices will go up and down what's making a difference this time is because of the pandemic, many more people can now work remotely and don't have to go to a physical office anymore. These people can now leave less desirable areas and move here to Florida and enjoy the better weather and tax structure.