[graciegirl]

Originally Posted by gomoho

Beg to differ - I was specifically told by the VLS agents they represent the seller not the buyer. Of course the price of the home is negotiable - my point is the VLS seller agent negotiating the deal with a buyer is looking for the highest price for the seller to maintain their reputation with sellers. VLS agents will also tell you VA loans on preowned "just aren't done here" because Citizens is not approved to do VA loans. I obtained a VA loan on a preowned and closed in 30 days so I'm just saying look at all your options and ask lots of questions so you are sure you have the full story.

I do not believe that The Villages agents will tell you ANYTHING but the truth. I think they would be canned in a heartbeat. There are lines of folks waiting for their job. They don't have to do much of anything to sell houses here. One out of every 100 homes sold in this country last year was sold in The Villages. ONE PERCENT. We live in one of the most marketable areas in this country. VA loans will not be accepted on new builds. But resales are pretty much like anywhere else, make an offer etc. Citzens First is NOT the only bank in town. There are most of the national bank branches that you are used to. And loans can be obtained quickly if you have a good financial credit history, just like anywhere else. I had heard about three years ago that about half of people buying here pay cash, but haven't heard anything about that lately.

I think that if a resale home doesn't sell here fairly quickly, it is overpriced, smells like cigarettes or pets, or is way too cluttered. I like to watch the market and read the homes for sale list from The Villages on their site and the MLS from Lyle Gant's site almost every day.

The real estate situation here is completely unlike anywhere else. I was very sceptical at first when I heard you couldn't make an offer on a prebuilt brand new house from The Villages. Well you can't. It is what it is. I am really glad to be living in a place where homes are desired.

I think that if I were trying to sell a villages home in this market, I would sell by owner. McLinn Burnsted Law Offices, that close for The Villages, and are probably owned by The Villages did all of the legal stuff when we sold our house in Hadley last year and it cost about $700. We split the cost with the buyers.

[Barefoot]

Originally Posted by QuincyM

If The Villages Real Estate is selling a pre-owned home, is the listed price on the web page negotiable?

List prices of resale homes are negotiable whether on MLS or VLS. I've bought homes through both systems. As a former real estate broker, I look for good deals!

MLS - I find MLS agents are more apt to encourage a lower offer. But I think there are more overpriced properties on MLS rather than VLS. Just one person's opinion.

VLS - I find VLS resales tend to be priced more accurately, but of course, some are overpriced. VLS agents will tell you that most pre-owned homes in TV that are listed by VLS sell for appriximately 97% of list price. They will discourage low-ball offers. We offered 15% less because the house was sitting vacant, so we figured the owners were motivated.

But ultimately, it's your money, and it's your decision on what to offer.

[eweissenbach]

FWIW I have made a few interesting (to me) observations over the last few months. One, for whatever reason, the pre-owned homes listed on MLS have seemed to decrease drastically recently. I don't know why and I can't say that is scientifically accurate, but I check the listings on a regular basis on both MLS and VLS, and it is what I have observed. VLS listings, in the meantime have seemed to hold their own. One home that we looked at twice on open house back in March was listed through one of the MLS realtors. Very nice home in a good location and seemed to be priced very competetively with LOTS of upgrades, including a pool and golf car garage. It was on the market almost six months on MLS. In June I noticed it showed up as a new listing on VLS. They had kept the price the same and removed the "turn-key" status, possibly to use as a negotiating tool. Within a week the house was shown as pending, and soon was gone from the site, so presumably was sold. Now I have no axe to grind with any of the realty services, and spent ten years as a realtor mylelf, so have some empathy for all of them. However, it looks to me, based on the two observations I related, that the Villages is doing the best job of listing and selling property. (Which they should, because of the natural advantages of having all the new homes, and getting first shot at anyone on lifestyle preview, among other things.)

[Pturner]

On our TV per-owned, we paid about $50k less than the previous owners had paid. However, the previous owners purchases a bigger home in TV when they sold this one. So, while they technically took a hit on this one, in reality they probably made up for it by buying a premier home in the same down market, no doubt paying the same $50k less for it than its with the price during the bubble.

Remember too that the value of your home only matters when you are buying or selling it. For those who purchases during the peak with plans to live there until they croak, the only financial impact of the downturn is to reduce their property taxes.

[PaPaLarry]

Originally Posted by eweissenbach

FWIW I have made a few interesting (to me) observations over the last few months. One, for whatever reason, the pre-owned homes listed on MLS have seemed to decrease drastically recently. I don't know why and I can't say that is scientifically accurate, but I check the listings on a regular basis on both MLS and VLS, and it is what I have observed. VLS listings, in the meantime have seemed to hold their own. One home that we looked at twice on open house back in March was listed through one of the MLS realtors. Very nice home in a good location and seemed to be priced very competetively with LOTS of upgrades, including a pool and golf car garage. It was on the market almost six months on MLS. In June I noticed it showed up as a new listing on VLS. They had kept the price the same and removed the "turn-key" status, possibly to use as a negotiating tool. Within a week the house was shown as pending, and soon was gone from the site, so presumably was sold. Now I have no axe to grind with any of the realty services, and spent ten years as a realtor mylelf, so have some empathy for all of them. However, it looks to me, based on the two observations I related, that the Villages is doing the best job of listing and selling property. (Which they should, because of the natural advantages of having all the new homes, and getting first shot at anyone on lifestyle preview, among other things.)

Plus, they advertise for FREE!!!!!

[eweissenbach]

Originally Posted by PaPaLarry

Plus, they advertise for FREE!!!!!

That is partially true, however there is a cost for publishing and distributing a newspaper and for operating a radio and tv station. The developer and/or his employees is/are marketing savvy to the extreme, and have been pitch perfect or it would not have worked this well.

[pqrstar]

Originally Posted by gomoho

Not as much as a listing with an MLS agent. Remember the Villages Real Estate sales agents are representing the seller not you. An MLS agent can work as a buyer's agent representing "you the buyer" not the seller. "

A real estate agent is working for the person who pays the commission.

[gomoho]

Originally Posted by pqrstar

A real estate agent is working for the person who pays the commission.

Not if the buyer has a "buyers agency agreement". The seller is paying the commision to the listing company for representing them during the sale process.
Has nothing to do with the buyer's agent except the listing company agrees to share the commission with them.

[Jim 9922]

[QUOTE=Barefoot;531072]
VLS - ---- VLS agents will tell you that most pre-owned homes in TV that are listed by VLS sell for appriximately 97% of list price. They will discourage low-ball offers. We offered 15% less because the house was sitting vacant, so we figured the owners were motivated.

QUOTE]
VLS agent usually state that "VLS "LISTINGS" sell for 97%." What they don't tell you is that VLS stats include the new home sales which are usually sold at listed price. VLS "lists" and "sells" both preowned and their new built in same agency and therefore can "claim" the 97% result. I've been told by a couple of different agents that their preowned is actually about 86% - 88% of orginal listing, which approximates the other MLS agencies.
All's fair in love and advertising, especially with real estate agents.

[eweissenbach]

The simple fact is that real estate is the purest example of supply and demand. A house is worth EXACTLY what a willing buyer will pay for it, no more; no less. The real estate agent can do whatever they want, but in the end, they do not control the offer or the acceptance. They may try to influence the negotiation, but they cannot control it. Even new homes are subject to supply and demand - ever notice the price reductions on some new homes? Those price reductions are not because the developer wants to give potential buyers a break - they are because the property has not generated the higher offer and they want to sell the property and move on. If you are interested in property, do your homework, find the property you want, and make an offer that makes sense to you. You will either get the property at your price or agree on a price that makes sense to both you and the seller. The agent is simply the facilitator of that negotiation. I know, I have been on all three ends many times.