[JMintzer]

Originally Posted by margaretmattson

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.

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...

[JMintzer]

Originally Posted by Randall55

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.

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?

[JMintzer]

Originally Posted by justjim

IMHO there are still many overpriced resales. For a homeowner to expect to double their money in five or less years is now totally unrealistic. Those in TV who purchased their home when rates were 3% are not about to trade that for a 6% interest rate. There are still cash buyers who may be waiting for further price drops. In the past, many new homes were purchased by current homeowners. I have not seen a 50k reduction on a new home by the Developer.

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)...

[Snakster66]

Originally Posted by JMintzer

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.

[Altavia]

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.

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%.

[JMintzer]

Originally Posted by Snakster66

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.

Prezactly!

[GoRedSox!]

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.

[Escape Artist]

Originally Posted by GoRedSox!

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.

[JMintzer]

Originally Posted by GoRedSox!

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.

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

[Altavia]

Originally Posted by GoRedSox!

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.

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.

[vintageogauge]

Originally Posted by Escape Artist

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.

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.

[Randall55]

Originally Posted by JMintzer

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?

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.

[Randall55]

Originally Posted by JMintzer

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...

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.

[Randall55]

Originally Posted by Altavia

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.

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.

[Randall55]

Originally Posted by Altavia

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%.

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.