[Bassdeer]

Originally Posted by asianthree

Problem with build lots there are 40+ names per lot

Lots just went up for the lottery around Woodland Golf Course the other day, our friends tried for a few view lots with no luck, now they are trying for a few in the street of dream houses. They find out today. Said there were 100's per lot trying.

[Laker]

Originally Posted by Normal

Looked at Zillow today for homes for sale in The Villages of Florida. Mind you, it isn’t inclusive of all MLS etc, or of Villages Realty VLS and we just passed the 700 homes and that’s just Zillow listings….WOW

Inventory just a week ago was up almost 12% on the MLS over a one month period. We are definitely in uncharted waters as far as homes for sale here! Homes are for sale everywhere.

I just read an article this morning in the Wall Street Journal that there is starting to be a serious shortage of senior housing over the next five years.

[Bill14564]

Originally Posted by Laker

I just read an article this morning in the Wall Street Journal that there is starting to be a serious shortage of senior housing over the next five years.

"Senior housing" meaning senior living facilities, not retirement homes. Would be an argument for the Developer to change direction and begin building a different type of Village.

[ROCKETMAN]

One area where houses seem to keep their value is between Sumter Landing and Brownwood. One reason the area in Wildwood where Lowe’s, soon to be open Outback, and Target, are a great draw. You have Publix and Aldi and Winn Dixie just a couple blocks apart. Throw in Culversand Jersey mikes so lots of eating options.

[Papa_lecki]

Originally Posted by Bill14564

"Senior housing" meaning senior living facilities, not retirement homes. Would be an argument for the Developer to change direction and begin building a different type of Village.

I read the article too.

Article was saying the oldest boomers are turning 80 and will need senior living.
It also means the youngest boomers are turning 60 and will need retirement housing.
Article says
“ Still, baby boomers are the wealthiest generation in the U.S. Many have paid off mortgages on homes that have soared in value. More than 40% could afford senior housing from income alone, up more than 10 percentage points from 2017, according to Green Street.”

[vintageogauge]

Originally Posted by ROCKETMAN

One area where houses seem to keep their value is between Sumter Landing and Brownwood. One reason the area in Wildwood where Lowe’s, soon to be open Outback, and Target, are a great draw. You have Publix and Aldi and Winn Dixie just a couple blocks apart. Throw in Culversand Jersey mikes so lots of eating options.

I doubt that any of the reasons mentioned play much of a role in choosing a home.

[justjim]

Originally Posted by darkim

Sad, but we knew it was coming. The Villages continued growth (down south) kills the housing market with a huge supply vs demand. The value of everyone's house goes down until they're done building.

Actually in most retirement communities the value hasn’t gone up when the developer stops building rather real estate values have generally gone down at buildout. The Developer no longer “markets”the community and has moved on to develop elsewhere. As noted, this won’t happen in The Villages during our lifetime.

Inflation and high interest rates has caused a bit of “slow down” rather than building south of State Route 44.

[Blueblaze]

Seems like a lot. But now tell it you need a garage with 3 parking spaces -- in other words, a golf cart garage. I count 28 total. When I bought my place 5 years ago, I had hundreds to choose from. Now, if you want to live near Sumter with 2 cars and a golf cart, you have ONE to choose from (at least on MLS), and it'll cost you $1.8M. 5 years ago, the only place over a mil in the entire Villages was a 3000 sqft house in the Morse compound, and it came with an acre and a barn.

And for some reason, most of the houses currently available on MLS seem to be smaller houses. To me, that's more significant than the raw number of houses on the market. I would never consider my 2004 sqft Lantana to be a large house. But right now there's only about 100 available over 2000 sqft -- in a development the size of my home town Tulsa, in both area and population, when I was growing up.

[Craig Vernon]

Originally Posted by asianthree

Wouldn’t think a flipper would wait for a new build, tying up money for 4-6 months to close, then wait for 12 more months to flip, especially with today’s interest rate. Out of the 20 plus build lots we tried for all still have the original owners going on 3 years. Specs with a view started selling @ 6 months with 6 months extended close.

Every new village gets the usual spec buy/rental, since we first came in 07. Our neighborhood in 2010, had far more % of rentals/flippers then any of the next 4 villages.

They are flipping them for over a million dollars and put right on the listing in the VLS cannot close until a certain date and willing to rent until... The high end flippers are supportive of home prices just gives those who want a view lot to live in a much tougher time.

[Ruger2506]

Originally Posted by asianthree

Lots of interior homes sitting as in the past. Those with views and larger homes don’t sit long. Those who bought and built view/4/3 homes, are still selling.

I'm hoping. Ours is a "modest" 4/2 on a lake lot in Middleton. In 8 years when we sell our home I'm banking on the fact Middleton will be surrounded by vast villages and the fact there will be no more lots in Middleton (let alone lake lots), prices for those homes will be sky high. And the fact most the neighbors built a McMansion and we didn't. Hopefully ours will be more desirable as it will be just a bit more affordable.

[Bay Kid]

3 in our neighborhood went under contract in the past week.

[Decadeofdave]

Renting for a year is a smart move.

[phylt]

Originally Posted by ROCKETMAN

One area where houses seem to keep their value is between Sumter Landing and Brownwood. One reason the area in Wildwood where Lowe’s, soon to be open Outback, and Target, are a great draw. You have Publix and Aldi and Winn Dixie just a couple blocks apart. Throw in Culversand Jersey mikes so lots of eating options.

We are smack in the middle of this. Built our Designer home 11 years ago, when "THE BUILDOUT" (developer to stop building south of 44...) was leaked. sure.... We are between Morse & BV and 466a and 44. Really great location. Also, not included above is the WM Neighborhood Market too. So much retail/food continuing to go in on 466a area. Traffic will be terrible, esp with apartments etc going up on 462 and Powell. So be it.

But we are FROGS, will CROAK here, no plans to move elsewhere...

[vintageogauge]

And then you have family housing homes and rentals going up everywhere in that area along with the traffic they add to already congested roads.

[Normal]

Originally Posted by phylt

We are smack in the middle of this. Built our Designer home 11 years ago, when "THE BUILDOUT" (developer to stop building south of 44...) was leaked. sure.... We are between Morse & BV and 466a and 44. Really great location. Also, not included above is the WM Neighborhood Market too. So much retail/food continuing to go in on 466a area. Traffic will be terrible, esp with apartments etc going up on 462 and Powell. So be it.

But we are FROGS, will CROAK here, no plans to move elsewhere...

44 and Morse has become an ugly intersection at times. The other day it pretty much matched 301 and 44.