[Altavia]

Originally Posted by Randall55

Several posters have stated all you need is VLS and MLS. No need for a spreadsheet. All the information is on both sites. Easy Peasy!

You buy a newly constructed house and happily move in. Weeks later, the Developer slashes the price of 250 available homes in your Village. The same model you just bought is now $30,000 less. You are a saint if that doesn't bother you.

What happens if you need to sell? Neighbors who own the same model in your neighborhood have a listing price lower than you. You look overpriced and will have a difficult time trying to sell the home. Anyone can easily understand that concept.

So if your neighbor purchased the same house for $30K less, what's the chances that buyer requesting a reduction in taxable value for their home would be successful reducing their taxes?

[ton80]

Originally Posted by Altavia

So if your neighbor purchased the same house for $30K less, what's the chances that buyer requesting a reduction in taxable value for their home would be successful reducing their taxes?

My understanding is that a purchased home is re-assessed at the sales price for that specific home. The purchaser at the higher price would have to go through a reassessment process and would need a lot of comparable data. I have done it with a county reassessment but doubt that the higher price purchaser would be successful.

The purchaser at the lower price should be assessed automatically at the purchase price.

[badkarma318]

Originally Posted by Randall55

Agree. Richmond is a great location. If the builds are Verandas, they will be snagged quickly. Some sales reps may already have interested buyers waiting for those homes.

There is a waiting list.

[Robnlaura]

Originally Posted by Robojo

That would be a deal breaker for me too. Why should I pay that? The bond makes no sense to me.

That’s how the developer builds all those nice golf courses and dance areas. O and he charges you another fee to use those facilities!! You don’t think the builder builds nice areas for nothing lol

[dewilson58]

Originally Posted by Robnlaura

That’s how the developer builds all those nice golf courses and dance areas.

Wrong, close by no cigar.
(actually, not even close)

Bonds funded: Infrastructure includes storm water systems, underground pump stations, water retention areas, curbs, gutters, streetlights, transportation trails, underground piping, etc.

[Aces4]

Originally Posted by vintageogauge

Preowned homes are more expensive because they have $25,000 or more to pay in closing costs. This gets added to the asking price. Not to mention the cost of upgrades they made to the home. Since many Villagers sell their homes within 1 to 3 years, I understand why their asking price is higher than new construction.

Those who sold their homes 70% or more over cost were fortunate. Those who bought the homes are now sitting on homes they cannot sell. Their asking price is way above the market. On MLS we see many who bought homes during the covid craze who now must take a loss. Some 40K and more. My daughter is moving slow in buying. She wants to do everything she can to avoid a possible expensive mistake. It seems for every"I made a wad of cash on my home' story, there is a sad reality for those who paid the wad. This is happening because the Developer continues to build at marginal price increases and has no problem discounting hundreds of homes to suit his needs. A buyer has to be careful!

I know a lot of people that sold homes south of 44 after as little as 1 year up to 5 and 6 years and all of them were sold at a price giving the owners a hefty positive return on their investments, some nearly double what they paid. Also I have never heard of anyone, at least south of 44, that sold their home at a loss. Your daughter moving slowly can be making a mistake.[/QUOTE]

There has been a huge change in the market in one year.

[margaretmattson]

Originally Posted by Aces4

I know a lot of people that sold homes south of 44 after as little as 1 year up to 5 and 6 years and all of them were sold at a price giving the owners a hefty positive return on their investments, some nearly double what they paid. Also I have never heard of anyone, at least south of 44, that sold their home at a loss. Your daughter moving slowly can be making a mistake.

I sold a home in September in 7 days. I made a good profit and used that to buy my current home. But, I had been living in the prior home for 17 years. Lots of time for appreciation.

Things have changed in the past FEW MONTHS. The history of homes on the market shows many are sitting for months and prices are moving downward. I didn't want to believe it until the Developer starting reducing prices. 250 + homes is not merely selling off what remains in a Village and moving on. (His way of doing business in years prior) It doesn't take much to realize the market is changing.

We will wait until the end of September. If we are wrong and prices go up, my daughter will be happy with a smaller home or a fixer upper. She is in her 40s. Husband is 54. She has time to wait. For them, any model in any Village is fine. Not picky, at all. Their only concern is buying a home and it depreciates 30-50 thousand in a month or so. Who wouldn't?

Currently, homes SOUTH OF 44 with views and pools seem to make a large profit on the resale. With interior lots, it is a DIFFERENT story. We have seen them sitting for months and YES quite a few suffered a loss. For her own reasons, my daughter wants an interior lot. Maybe it is too much inventory that is dragging prices down on these homes. Because of cookie cutter build, one looks EXACTLY like another. In this case, maybe buyers go the cheapest route they can find.

[Normal]

Originally Posted by margaretmattson

I sold a home in September in 7 days. I made a good profit and used that to buy my current home. But, I had been living in the prior home for 17 years. Lots of time for appreciation.

Things have changed in the past FEW MONTHS. The history of homes on the market shows many are sitting for months and prices are moving downward. I didn't want to believe it until the Developer starting reducing prices. 250 + homes is not merely selling off what remains in a Village and moving on. (His way of doing business in years prior) It doesn't take much to realize the market is changing.

We will wait until the end of September. If we are wrong and prices go up, my daughter will be happy with a smaller home or a fixer upper. She is in her 40s. Husband is 54. She has time to wait. For them, any model in any Village is fine. Not picky, at all. Their only concern is buying a home and it depreciates 30-50 thousand in a month or so. Who wouldn't?

Currently, homes SOUTH OF 44 with views and pools seem to make a large profit on the resale. With interior lots, it is a DIFFERENT story. We have seen them sitting for months and YES quite a few suffered a loss. For her own reasons, my daughter wants an interior lot. Maybe it is too much inventory that is dragging prices down on these homes. Because of cookie cutter build, one looks EXACTLY like another. In this case, maybe buyers go the cheapest route they can find.

Very much spot on. Two things to mention. The first is interest rates do matter. More than half of all homes bought here are financed. Secondly, there seems to be an uptick in view lot new construction. There is a lot of water south of 44.

I still see depreciating housing prices till summers end. The Fed won’t cut interest rates anytime soon. Waiting doesn’t hurt a bit. If you bought now, we still have a ways to go till the bottom on prices. Houses are for sale EVERYWHERE!

[frayedends]

Originally Posted by Normal

Very much spot on. Two things to mention. The first is interest rates do matter. More than half of all homes bought here are financed. Secondly, there seems to be an uptick in view lot new construction. There is a lot of water south of 44.

I still see depreciating housing prices till summers end. The Fed won’t cut interest rates anytime soon. Waiting doesn’t hurt a bit. If you bought now, we still have a ways to go till the bottom on prices. Houses are for sale EVERYWHERE!

Been a while since I read through this thread, but if you are waiting for interest rates to drop, I think that is a mistake. If prices are low now, when rates drop the prices will immediately increase. You can refinance an interest rate, you can't refinance the price. Just my opinion. Of course timing is everything and the exorbitant closing costs in Florida also need to come into play. Not sure how bad closing costs are on refinancing.

[JanetH]

Hey it took us 189 days to sell a beautiful home that would be 3 mil and not even available in the villages . Of course it’s not sitting in the villages . Would have loved to get the price per square foot that we pay here. Not complaining, just don’t think 40/50 days on the market is a big deal ……..

[vintageogauge]

Originally Posted by margaretmattson

I sold a home in September in 7 days. I made a good profit and used that to buy my current home. But, I had been living in the prior home for 17 years. Lots of time for appreciation.

Things have changed in the past FEW MONTHS. The history of homes on the market shows many are sitting for months and prices are moving downward. I didn't want to believe it until the Developer starting reducing prices. 250 + homes is not merely selling off what remains in a Village and moving on. (His way of doing business in years prior) It doesn't take much to realize the market is changing.

We will wait until the end of September. If we are wrong and prices go up, my daughter will be happy with a smaller home or a fixer upper. She is in her 40s. Husband is 54. She has time to wait. For them, any model in any Village is fine. Not picky, at all. Their only concern is buying a home and it depreciates 30-50 thousand in a month or so. Who wouldn't?

Currently, homes SOUTH OF 44 with views and pools seem to make a large profit on the resale. With interior lots, it is a DIFFERENT story. We have seen them sitting for months and YES quite a few suffered a loss. For her own reasons, my daughter wants an interior lot. Maybe it is too much inventory that is dragging prices down on these homes. Because of cookie cutter build, one looks EXACTLY like another. In this case, maybe buyers go the cheapest route they can find.

Over the last few months we have had several homes in our immediate neighborhood listed at what I felt were very high prices and sold in just a few weeks, both interior and view lots. This is still a great time to sell a home, at least south of 44. I have noticed that Pine Hill and Pine Ridge homes don't seem to sell very fast for some reason.

[margaretmattson]

Originally Posted by JanetH

Hey it took us 189 days to sell a beautiful home that would be 3 mil and not even available in the villages . Of course it’s not sitting in the villages . Would have loved to get the price per square foot that we pay here. Not complaining, just don’t think 40/50 days on the market is a big deal ……..

if some people sell their homes in 5 days, others sell theirs in 30, and some take 100 days; the average is 45 days.

An average does not give a true picture. It makes one believe ALL homes sell within 45 days. In my example, 33% were far under, 33% in range and 33% way over. If you want factual days on market, you have to go on MLS and look at home history. A quarterly report that gives averages is interesting to look at but not reality.

[Snakster66]

Originally Posted by vintageogauge

I have noticed that Pine Hill and Pine Ridge homes don't seem to sell very fast for some reason.

One word: taxes.

For me to consider either of those villages, it would have to be an exceptional deal.

[Normal]

Originally Posted by margaretmattson

if some people sell their homes in 5 days, others sell theirs in 30, and some take 100 days. The average is 45 days

An average does not give a true picture. It makes one believe ALL homes sell within 45 days. In my example, 33% were far under, 33% in range and 33% way over. If you want factual days on market, you have to go on MLS and look at home history. A quarterly report that gives averages is interesting to look at but not reality.

The average or sometimes called the mean can be very misleading with so many outliers. The current market is influenced by aggressive price cuts. The price cuts do help more houses move in fewer days.

What I have found very interesting about Florida retirement housing markets are the similarities. Take a look at Sun City by Tampa. It showed slowing signs about 2 months ago and now inventory is climbing through the roof. If what has happened in the past holds true, it will be a blood bath soon for sellers here. It will be a 100% buyers market.

[Aces4]

Originally Posted by Normal

Very much spot on. Two things to mention. The first is interest rates do matter. More than half of all homes bought here are financed. Secondly, there seems to be an uptick in view lot new construction. There is a lot of water south of 44.

I still see depreciating housing prices till summers end. The Fed won’t cut interest rates anytime soon. Waiting doesn’t hurt a bit. If you bought now, we still have a ways to go till the bottom on prices. Houses are for sale EVERYWHERE!

I fail to understand why the Fed should cut interest rates since they are really where they should be or maybe a percent or two higher. When did "free money" to buy anything you want become the norm? And please don't tell me 1-3% doesn't equate to free money. It's price of homes that needs to adjust and drop accordingly.