[l2ridehd]

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.

[Army Guy]

Interesting data, I2. We are the belief that the bottom of the market in TV has already been reached, last May, and that it indeed is heading up. What leads me to say that is, May 09, is when we were in the CYV seach/buy mode, and we bought the last CYV with a $20,000 discount, plus and already low price for an oversized corner end villa. I have continued as you, watching new CYV sales, and I have seen the prices for comparable ones priced higher and of course no where near the discount we got.
I totally agree with you, if you are thinking of buying TV buy NOW!
Army Guy

[BogeyBoy]

Originally Posted by l2ridehd

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.

Just curious, what is the source of your information?

Update - I see that you are getting this information from resale homes listed by The Villages sales department. (On The Villages website.) This may appear to be an average number based for this market place but does not take into consideration any homes offered by sale by owner or listed by real estate agencies. Add in the abundant number of new homes available through The Villages and it puts a lot of homes on the market. Things may be improving, but it is a long road back to where things were in 2005-2006. (Back then if you listed your home for sale you'd better be packed because chances were it would sell almost immediately.)

[BobKat1]

Do Pending sales include those with contingency offers?

If they do, that is another thing to consider. If potential buyers have to sell their current home before closing on the pending TV home, that could take a long time in this market, and a number of the pending offers could fall through.

The market does appear to be turning, slowly..

[l2ridehd]

Boogie, that is why I said VLS pre-owned homes. I do track MLS as well and I try to gather what I can about FSBO. My data has 100% of the VLS re-sale market, probably 90% of the MLS market and maybe 50% of the FSBO market. I do nothing with the Villages new home market. The data tracks almost the same in VLS and MLS which is 85 to 90% of the resale market. As to your comment "a lot of homes on the market", based on everything available it is still a very small % of the total when compared to other markets.

I responded using VLS resale homes as that has proved to be the most consistent view of the market place. Think of it as you wish, I stand by my original analysis.

[The Shadow]

I wonder if The Village sale people tell the home buyers about the IRS problems. I know it is not on a one day old Florida Association of Realtors, “Seller’s Real Property Disclosure Statement” that I have.

[njbchbum]

I agree that the Villages housing market bottom has already passed. I don't track the numbers of houses for sale, but for the past 4 years I have watched the prices of pre-owned homes. Last winter/spring I noticed that prices were beginning to creep up and up. When we visited in March we were fortunate enough to find our pre-owned at a price that we could not afford NOT to buy...it was market priced but our cash sale with 30 day close helped us get it at below market.

Remember, too, that now is the time to have your house for sale - the snowbirds have returned and many others are renting - 'tis the season! This is prime time for advertising. Potential buyers should take that into consideration...prices may drop a bit after they go back home - but one cannot be sure of that either.

The question of to buy or not to buy NOW always puts me into a conflicted state when I think of two old adages: Look before your leap & He who hesitates is lost.

[starflyte1]

Appreciate your time and work put into tracking the sales. We have bought a second home in TV and will be putting our original home in TV up for sale in the next two weeks. I was wondering how the prices and sales are going. Thanks again! Pat

[inda50]

I haven't seen anthing recently in this thread and I am wondering what the status is now with home prices. Do you think we will see any increase or decrease now that the incentives are over?? what do you think??

[Pturner]

Here's a link to the Trulia data:

http://www.trulia.com/real_estate/Th...market-trends/

[cats12470]

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....

[SALYBOW]

Originally Posted by The Shadow

I wonder if The Village sale people tell the home buyers about the IRS problems. I know it is not on a one day old Florida Association of Realtors, “Seller’s Real Property Disclosure Statement” that I have.

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

[JimJoe]

Here is my prediction:
I believe after incentives are over and for the next year or two there will be another price drop in the villages home prices (about 10%) albeit less than what it will be nation wide. There is a current push is to increase the retirement age in America. That will hurt TV home prices also. The IRS issue could also hurt a bit but I see that as a minor concern.

[Jakel]

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!

[inda50]

The Villages is a very unique market, alot the of pricing is dependent on what the developer does. Just outside the villages new homes sell for about 30 or 40 % less but the amenities are not equal.