Talk of The Villages Florida - Villages Housing Market

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- The Villages, Florida, General Discussion (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/)

- - Villages Housing Market (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/villages-housing-market-27069/)

Quote:

Originally Posted by cats12470 (Post 262896)

I was reading someone said something about an IRS problem.... is their a problem? Should we be worried? We only see positive things about the Villages... no negative.... so this one jumped out at us.... seems like most people love living in the Villages....

Quote:

Originally Posted by SALYBOW (Post 262897)

We are coming this weekend, Is this something we should be aware of?

Here is a link to thread on TOTV in which the issue was thoroughly discussed.

https://www.talkofthevillages.com/fo...ight=developer

As I commented in that thread, I think it makes sense to be aware of the issue before purchasing, and to weigh the risks and benefits. To us, the benefits are incomparable. TV is where we want to spend the rest of our lives when we retire. I believe this issue will play itself out in an equitable manner. I see no reason to think otherwise.

Quote:

Originally Posted by Jakel (Post 262903)

I'd like to understand more about the IRS issue too. I read articles posted a while ago, but I'd like to hear it in plain English. Exactly what was sold, was the amount $350 million, who bought the bonds which I seem to remember were sold tax free, and who is libel if the IRS determines they are not tax free?? How will new home buyers be affected by the final decision, Since this is my first post I want to Thank all of you veteran posters who have been so informative!

It cannot all be repeated here again. Do a search on IRS there are hundreds of posts....what you read is what it was and is, nothing new has happened.
Here is an article that was in the Daily Sun-
http://www.districtgov.org/images/wh...ews2009031.pdf
Why worry, be happy!

Check "zillow.com" an extremely user friendly real estate site. Lots of good info.

Quote:

Originally Posted by l2ridehd (Post 245597)

For those that still wonder if the market in TV is changing. I have tracked the total number of VLS homes for sale for about 3 years. Today there are 450 available homes. About an average number based on the size of the market place. I have seen it as low as 390 and as high as 510. And there are about 9000 more homes for potential pre-owned since I started tracking this. So what has changed? Today there are 115 of those 450 resale homes pending. Meaning they have a valid offer and are waiting to close. I am sure a few will fall through for one reason or another, but more then 100 will go to close. That 115 pending is the most I have ever seen by about 25 homes. The market there is improving, prices are moving up, and sales volume is increasing. Good news for all owners, and a wake up call for those looking to buy, but waiting for the bottom to hit.

12ridehd!

YOU are the person tracking the market in TV. I am glad someone replied to this post and although the questions were about the IRS issue, I am going to hijack this older thread to ask you what is your current assessment of the market in The Villages ?? Am I correct in thinking that the house prices are edging up slowly? The price we paid for our Camellia on a similar lot seems several thousand dollars higher than what we paid for it exactly two years ago...but figuring out similar lots is tricky.

Waiting to hear 12ridehd.:coolsmiley:

And I agree that the IRS issue will be resolved. :agree:Please read the previous threads about it. Lauren Ritchie, the reporter who covered the issue for the Orlando Sentinel is NOT my favorite journalist.

The "IRS issue" will have about as much effect on home sales

in TV as cash for clunkers did for local car sales.
If you qualify and timing is right you get it. If not you buy where ever you were going to buy anyway.

Almost every developer in the country would love to have TV's slow sales of 250-300 homes per month.

One needs to keep the perspective of the market and it's environment and demographics.....and what happens else where is not an indicator of TV or any where else.

btk

Lyle Gant produces an interesting graph. Go to http://www.lylesellsfla.com/The_Vill...n_houses.shtml

On the right panel click on the red link, Villages Market Analysis. The yellow graph shows the average sale price. I believe I'm correct to assume that this is for sales for homes on the MLS only. i don't think The Villages sales (new and used) are reflected here.

The main reason for more sales in the last couple of months was the IRS tax breaks on first time and second ownership homes ,which i believe expired on April 30. You only needed a binding contract to qualify, closing could be at a latter date.

dolpterry, the closing needs to be by June 30,
and I'm sure that led to an uptick in sales, plus the high season is over now so things should slow down a bit, but TV is always busy building. Their slow season would be the envy of most builders.

Villages Market Values vs Other Places

I am under the impresion the market for real estate is that when homes are sold for less when times are not good and you buy another home at a lesser price.
When the market is good, you sell your home for more and you will have the buy at a higher price.
IMHO - The question becomes, " Since the Villages is such a unique market because of it's lifestyle", is the value of home prices going up in relation to homes outside the bubble?

I would say at present, that the value has not dropped but is holding it's own, which to answer your question is totally opposite the majority of the US.

Army Guy