Talk of The Villages Florida - Villages q1 2024 market update

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Quote:

Originally Posted by coleprice (Post 2323601)

Golfers shopping for homes in The Villages should NOT purchase a New Home in the Southern Areas, which lack enough Executive Golf Courses.

Golfers don't focus on Executive Courses.

:ohdear:

Quote:

Originally Posted by Two Bills (Post 2323577)

As far as bonds go, if you are earning more from interest on capital you could pay it off with, keep the bond payments. If not, pay it off.

Yeah, that is what we did.

We closed on our house in 2016. The interest on our bond was 6% and our savings account earned 1%.

So we paid off the bond.

Quote:

Originally Posted by Tonydivo (Post 2323595)

Only traffic in my house is on open houses. We live in what they call the most sought after village. My realtor never walked anyone through. Go figure.🤦🏻*♂️

May I ask which village you live in?

Quote:

Originally Posted by dewilson58 (Post 2323608)

Golfers don't focus on Executive Courses.

:ohdear:

You are Correct Sir.

Quote:

Originally Posted by margaretmattson (Post 2323505)

What the Developer earns has NOTHING to do with homebuyers and residents. His money is his to keep. Reducing homes prices in Denham and Dabney to sell them quickly hurts those who want to sell their preowned homes. For some, the sky is falling! In order to sell, many homeowners must reduce their asking price significantly.I am so glad you are happy the Developer is making money. But, have you tried to sell your home? Maybe your outlook will change when your wallet is involved. I am pretty sure those who bought in Lake Denham and Dabney aren't thrilled their neighbors paid $50,000 less for the same model home.

Average time on market is not a good indicator. Some homeowners are lucky to sell their home in a few days or weeks. Others have their homes sitting on the market much longer. You can't lump sales together and state "everything is great." Not to mention, there is NEVER a quarterly report that shows how many preowned homes did not sell within the contract time and were removed from the listings. Did those homes vanish? This report is an old marketing technique to sku your numbers so you look good. It in NO WAY tells the complete story.

Agree. How many of the homes sitting on the market a long time are buyers asking way more for the home than the market will bear? Also, what many are missing is the MLS listings. Did some of these homes that not sell via VLS simply relist with the MLS? The VLS sales are only half of the total sales in the areas picture.

Quote:

Originally Posted by dewilson58 (Post 2323608)

Golfers don't focus on Executive Courses.

I have been a golfer since 1958 and even went to Univ. of Florida on a full golf scholarship. I will be 79 in a few weeks. I hate riding in golf carts.

My wife and I love the new pitch and putt courses, especially MickyLee. We played there yesterday but quit after 9 holes because it was so hot. Then we drove across Bexley Bridge to look at the new areas and took Marsh Bend Trail up to Magnolia Plaza, where we got two milkshakes at Foxtail coffee shop.

It was a wonderful day.

Quote:

Originally Posted by Craig Vernon (Post 2323581)

If you purchased 2022 or after with improvements etc you are most likely going to struggle to recoup.

Unless you’re an investment flipper then who cares your going to sell maybe 5-10 years down the road anyhow. Go to the pool and relax. Does this mean you’re not buying soon as you have said?

Anyone who purchases anything without looking at every single economic aspect is a fool. The driver here is what you are selling and what people are willing to pay. Simple.

Quote:

Originally Posted by Papa_lecki (Post 2323552)

Wait, I was told by TOTV experts that paying off the bond doesn’t impact your resale.

A home with the bond paid off is just another selling point along with a pool, extra bedrooms, baths or any other improvement that makes the property stand out among the competition.

I have to admit, a $48K bond is a lot of extra money you will need to pay every year.

Quote:

Originally Posted by CarlR33 (Post 2323625)

Unless you’re an investment flipper then who cares your going to sell maybe 5-10 years down the road anyhow. Go to the pool and relax. Does this mean you’re not buying soon as you have said?

My wife and I will be in TV for the month of May and will be actively looking.

Quote:

Originally Posted by huge-pigeons (Post 2323607)

The sky is falling is absurd. Not buying because the bond is $50k, illogical. Not buying because you have a feeling you are paying more than your neighbors, illogical too.
I have friends that have been competing with 200 other people to buy in Eastport, lost out 5 times now but still trying. Every new house in Eastport will sell. If I was the developer and wanted to make money, have each new home sell to the highest bidder. You have up to 200 people wanting to buy each house/property, it would be a gold mine. Thank god the developers don’t do that.
If your house is in good shape, reasonably priced, in a good area, it will sell in weeks. I have a friend out of state that I assisted in checking out houses and he bought 1 that was on the market only a few days. I also know houses that over exaggerate their home/location and have come down hundreds of thousands or more and been on the market for many months.

As for buying a home with a $50k bond, I have friends that have moved from existing villages to Newell and they are very happy. They bought on a pond and said they saved over $150k for a pond house in the other areas. They were already paying $35k bond, so saving $150k on a lot but increasing their bond by $10k, that’s a h3ll of a deal.

Some of the areas that have a fire sale, I wouldn’t buy them at a $100k discount. But at $50k discount and you want the house, you can brag to the old neighbors you got the better deal. If you wait, somebody else might come in and buy them.

If I was looking, this would be a good time to buy mainly because I pay cash for our home, no financing. For the seller, this is great. Cash offers don’t need an appraisal, inspections, no contingencies, etc, and it can be a very short closing date. For the buyer, I can get a better deal.

People look at things differently.

1. The sky is falling for those who cannot sell their home. You believe it is their fault, I see it differently.

2. You do not mind carrying a $50,000 bond. I prefer to buy a preowned with no bond. I would rather use the $50,000 to make upgrades to the property. Without having to pay a monthly $250 or more bond payment, my savings will help to offset the price of my upgrades. Plus, I get to live in a home that is to my liking not some standard cookie cutter home. If I bought a new home, there would be upgrades needed: landscaping, gutters, painting, bird cage, etc. $50,000 for a bond plus more for upgrades? I would rather not!

3. I do not have a FEELING I am paying more than neighbors. Go on VLS and check the prices for Dabney and Lake Denham. There are hundreds of REAL price reductions.I am not making this up.

4. Why do I not want to spend more for the same home as my neighbor? If I am ever in a need to sell scenario, I would rather be the lowest asking price in my neighborhood than the highest. Having to compete with a neighbor who paid $50,000 less than me could mean I have to reduce my asking price by that amount. This means I may have to sell for a loss. Not a good thing especially if you are in a need to sell position.

5. I do not buy a home at a lesser price to BRAG. Informed decisions keeps money in my bank account. Exactly where I like it!

Quote:

Originally Posted by margaretmattson (Post 2323645)

1. The sky is falling for those who cannot sell their home. You believe it is their fault, I see it differently.

2.

3. I do not have a FEELING I am paying more than ?neighbors. Go on VLS and check the price reductions for Dabney and Lake Denham.

1) Sad if "your" house is not selling and "you" feel the sky is falling. "You" have other issues.

3) "price reductions"..........sounds like someone felling for selling tactics. Over price, sit for a month and then give a "discount". Look, a price reduction.

Quote:

Originally Posted by margaretmattson (Post 2323515)

Agree with most of what you said. However, some homes in Lake Denham and Dabney were indeed reduced by $50,000. My daughter looked at one because the price intrigued her. The sales rep told her the developer was eager to unload the inventory.She did not purchase because she felt the prices may go lower. She did not want to live in an area where she paid more for a home than neighbors.

The reduction of home prices in new Villages as they close out that Village is very common and has been going on for YEARS! The beauty of The Villages is you won’t lose money on your home. You still build equity. Have to stop thinking as if you’re in anywhere else USA. If you want to buy, can buy, but holdout for lower prices, the buyer will be the loser in the end

Quote:

Originally Posted by margaretmattson (Post 2323528)

This is the only place that new homes are cheaper than re-sales. From personal experience, 70% over cost after 3 years is to be expected.

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![/QUOTE]

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:

Originally Posted by dewilson58 (Post 2323608)

Golfers don't focus on Executive Courses.

:ohdear:

Many older golfers do. Perhaps a championship nine once a week or every 10 days.