No, just a realist... I purchased my home at what I thought was an exceptional price, at an exceptionally low interest rate.

If I choose to move, I'll either pay the asking price, negotiate to a price I find acceptable, or pass on the house.

It's not rocket surgery...

Negative Nellie's

or

Sad life.

or

Troll's.

or

Bitter person.

or

Jealous non-resident.

Pick one, Pick two.....pick'm all.

:ho:

Yes
 

Precise and exact. Keep in mind though, the Developer wants to sell homes so that’s why the report is one sided. We all know the slump will end sooner or later, but right now we remain in a slump.

If the cost of the bond determines whether you buy the house or not, then look at different options in The Villages. New homes dictate higher bonds for longer period of time. A resale home has no bond or the time frame of the bond is lower; as well as the overall cost of the bond. If you plan on staying in the house, forever, pay off the bond. If there is a chance you could move, don’t.
Buying a home or a lifestyle here is like no other place. I didn’t come here for a monetary investment. Been there. Done that. I’m here for the lifestyle. And everything The Villages has to offer. And in all the years I’ve lived here, I don’t know ANYONE that has lost money here.

That’s a loaded question. Villagers will tell you they live in the BEST Village. And everyone does!!! Really depends on what you want. Does the house dictate where you will live? Or the lifestyle? South of 44 is new and shiny. Has an over abundance of homes, with less amenities for now. If you are young and have time to wait, that could be where you want to go. Having 6 pools close to your home is good for you with 5 championship golf courses available 5 minutes away from you is another factor. Being a golf cart away from the 3 squares with shops and restaurants another factor. The reason you choose a lifestyle visit is so you can experience what the Villages has to offer. Your home should be secondary.

Amen to that. In my mind our bond is simply an annual expense that will never go up or down other than the balance dropping annually, I don't see a slump in re-sales, at least not in our village the new listings seem to be sold overnight, I also don't see any major problems within TV, there is more to do here, more food and retail establishments, and a lot more amenities than there were 7 years ago when we purchased our home. You buy what you like, you enjoy your time here and you sell at a profit what more can you ask for.

I guarantee you there are people who sold houses within the last few months that they bought in 2022 who lost money.

I doubt that to be true.

You Shouldn’t
 

Respectfully, it’s quite true with numerous sales.

1055 Winsboro purchased November 22 for 423,000 sold last month for 379,000 that’s a 44 k loss without paying realtor fees.

661 Sherwood purchased in May of 2022 345,000 sold for 340,000 in Feb of 2024

There are several that have lost money. Just look on the Zillow realtor website. Click on the Facts Features tab to get all the info.

Don't confuse a mortgage with a bond. The payments on a mortgage do not add to the basis.
A bond is different.

For those who PAY OFF the bond then find themselves moving within a year or so, recouping is wanted. Especially with higher bonds.

Completely agree. There have been quite a few, lately. I did not want to post addresses. Those who really want the truth can easily find it on MLS.

Some posters have lived in their homes for years with no intention of moving. They are happy and content. This is new information for them and depending on how long they have lived in their home it probably doesnt affect them. New buyers need to be aware. And, it is not wise to purchase a new home in the Villages thinking the one you currently own will sell quickly. I know 3 people who are stuck paying monthly payments on two homes. It is best to move with caution and eyes wide open.

You are the one who wrote: the loan payment (principal and interest) should be added to the tax basis of the home.

Nice try but you were wrong.

Certainly
 

You are correct, there is no need to post addresses forever. Some have drank way too much cool aide. Like I saw in another’s post though, “Facts are a stubborn thing”. Think of how ugly it is down in Dabney and Lake Denham. Living next to a neighbor who paid 10 of thousands less for almost an identical house.

We are spending time on MLS and VLS looking for patterns of the types of homes suffering a loss. We will not buy until we have a better understanding. Time is on our side. It is not likely the market will suddenly reverse itself anytime soon. Knowledge is power and Kool Aid tastes bitter when the party is over.

Doubtful, if they initially bought the house new...

Now, if they bought a resale at the ridiculously inflated Covid prices, I'd tend to agree...

Two examples is hardly "numerous"...

And checking your examples, those were both resales, which jives with my previous post...

And one of them appears to have been purchased by an investor, since it immediately went up for rent after the purchase...

I'm sure everyone is so petty that they compile a spreadsheet, listing what all of their neighbors paid for their homes...

You do not have to take time to make a spreadsheet. Simply go on VLS. Over 250 homes were discounted in Lake Denham and Dabney in January. The new prices are bright red in color. Doesn't take a genius to find them. This can be done in mere minutes. It is far from a stressful task

The sales in Moultrie Creek seem to be quick and stable. Maybe the Developer has changed his plans in order to keep it this way. I doubt he wants to deal with needed price reductions like Lake Denham and Dabney. But, as we all know, well-laid plans of mice and men often go awry. We are not willing to gamble our money to see which way this goes. The end of summer will probably be a good indicator. We have no problem waiting until then.

Most people that aren't of advanced age don't use realtors to sell a home in an active market like here in the Village. We use Zillow or other sites that cost close to zero. It would never occur to me to use a realtor to sell a home. That's for older boomers to waste their money on. I've observed homes on my street and adjacent up for sale by owner and by agents. The ones that used an agent sold their homes no faster at all.

Not likely anyone has the time or patience to type ALL the homes that were sold for a loss in the past few months. A few examples proves the posters who stated "no one loses money on their house" are wrong. If you want more examples, simply look on MLS. The facts are there for all to see.

NEW HOMES have sold for a loss. or with big reductions. Some newer villages seem to suffer that fate more than others. This market is a crap shoot. As we have seen in Denham and Dabney, even for the developer. A person would be a fool to buy recklessly in this market. Or, maybe they have tons of money and simply do not care.

You have no idea how many wanted the same home or model or lot in Moultrie Creek. Your friend was beat out 5 times each by ONE BUYER. Only ONE BUYER gets an opportunity to purchase and close on a home. I would tell your friend to get another sales rep. Apparently, several are quicker to act when a home is made available for sale. The first sales rep to get the ball rolling usually gets the sale.

It is standard operating procedure for a sales rep to tell a buyer he has a few hours to purchase a home that has recently come available. If the potential buyer does not commit within the few hours, the home is made available to others. This does not necessarily mean there are 200 or ANY buyers waiting breathlessly to steal it away. It simply means a sales rep is not permitted to hold a new home unlisted longer than a few hours. A listing must go public after that time frame. Otherwise, new homes will sit for days or possibly a week, then suddenly the buyer backs out. This few hour time frame protects the Developer. It is not meant to force a buyer to commit to a home in fear of losing that home or others that may come available.

The number of people you believe is in the Moultrie Creek lottery may only be in your mind. Perhaps one person wants the same home as your friend. Could be 3 or 4. I could even see possibly 10. 200 is a stretch for me to believe. Need proof? If what you stated is true, why are there over 100 available homes listed on VLS for the Village of Moultrie Creek? If there are HUNDREDS of ready to pounce buyers, dont you think the homes would have been sold without the need to list? Or, at the very least, there would be far less than 100+ homes available?

Could it be your friend simply felt a need to rush? Recently, Villagers received an open invitation to tour the new model homes. Perhaps your friend misconstrued this to mean there were hundreds of buyers? Not simply visitors?

We saw this in February. Looking forward to a nice month of golf, food, fun and friends.

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

I wonder if this will ever be posted like previous quarters, such as
Q4 Market Update 2023

Once the house is pending, the price is gone from the Homefinder site...

Hence the need for a spreadsheet in order to keep track of which of your neighbors you now must be any at because they got a better deal than you...

Should I be happy if they paid more?

I'm not angry if someone paid less for their car. Maybe they took advantage of a 0% interest rate that wasn't available when I bought.

I have better thing to do than obsess over what someone else paid for what they have...

If you're going to make a claim, shouldn't you be sure your two posted examples NOT support the argument to which you're responding?

And how do you know that NEW homes sold for a loss? Do you know what it costs the developer to build the houses?

You. are correct. There are many who still believe the market is the same as it was during the "Covid Boom"...

They'll soon figure out it's not and reduce their prices.

And when they do, several people on this thread will go "AHA! Look at how much prices are dropping! The bottom of the market is falling out!"

When, in fact, the prices are simply adjusting to normal, and they'll most like still get a decent profit (unless the bought during the Covid Boom, and they're trying to flip the home for a huge profit . They're screwed)...

Some people are forced to sell for one reason or another. Not everyone who bought two years ago, and are selling today, are trying to flip their home for profit. But to the broader point, yes, they are screwed.

The re-sale market is definitely going through a correction right now. That doesn't mean the bottom is dropping out (as you correctly allude). However not everyone who is listing today has gotten that message and still list as though the market is booming for sellers. They are the ones who end up selling for 7-10% (or more) below their original asking price and thus making the casual observer think that the market is crashing. People who are pricing according to the current market still sell quickly with modest price drops. And some actually sell for list or even a little higher. If they have good listing agents (and listen to them) they price correctly and do well. Others.....not so much.

What part of the bond financing the infrastructure makes no sense?

The effective cost of a bond is the difference between the bond interest and what you could earn investing that money.

For example, you have a $50K bond @ 4.5%. Instead of paying it off, take your bond money and purchase a 4.5% CD, the bond is now effectively costing 0%.

Prezactly!

The market may be normalizing, but is still amazingly resilient for a housing market with a 7.44% 30-year mortgage interest rate. No one could expect the pandemic market to continue once we were no longer in what is considered a pandemic.

The thing that strikes me is the sheer magnitude of what The Villages is doing down south. There is land cleared and construction going on right now seemingly for as far as the eye can see. The amount of construction is mind-boggling. It does not appear that The Villages is holding back or slowing down. I am amazed every time I go down there.

I wonder where all the medical services and doctors will come from? That’s the biggest negative living in TV for me: the lack of adequate or competent medical care. It’s glaringly obvious as I had to even change my insurance because the offices I went to could not find doctors or keep them. When I finally got a primary care physician he ended up leaving a few months later and that’s when I switched. The new insurance isn’t much better but at least my new doctor has been there for a year.

This is one aspect of TV lifestyle that the developers didn’t think of or chose to ignore. Even if we are all “active adults” we are still entering a stage in our lives when we will need more medical care, not less. The way they are building, TV might soon be looking at 200,000 residents, the majority of them over 55. Will there be enough hospitals, rehab and after-care facilities, nurses, doctors, therapists etc. to handle the demand? I highly doubt it. You’d be hard pressed to find that many doctors/surgeons/nurses enthusiastic about providing geriatric care or living in Central Florida to make it work. The system is already broken and will continue to get worse.

Same here... It's staggering...

With no intent to disrespect those who purchased there, for several reasons Danby is a harder sell than some other areas.

Richmond and North of Eastport will be blows outs when available.

The new southern villages are much closer to Orlando than up north but the north is much closer to Ocala. If you live in the Cleveland area suburbs and you want to visit the main Clinic campus or University Hospital, the drive can be up to an hour, no different than here. There are shortages of doctors everywhere in the country. As far as emergency care TV has opened several new 24 emergency centers and are already adding on to the one on 44 across from Brownwood, and there is The Villages hospital for the north if you dare to go there and Leesburg hospital for the southern villages. Lots of skilled nursing facilities are going up, it's a hot market right now and the investors know it.

Shouldn't you remember what you wrote on your previous posts?

Reread your posts. Figure out which one I was responding to. Don't have time to keep explaining things to you.

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.

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.

True to some extent. If you don't have a bond, you can use interest earned on something more enjoyable. Personally, I would rather use the earnings on a spectacular vacation. Especially when we live in a community with cookie cutter homes. It is simple to find the model you like with the bond paid off.

If interest rates go down, then you must use your savings to pay the bond. A house with no bond will not have that issue.