Talk of The Villages Florida

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-   The Villages, Florida, General Discussion (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/)
-   -   The Villages Q2 Real Estate Update (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/villages-q2-real-estate-update-334080/)

Debfrommaine 08-01-2022 12:19 PM

Have purchased three new homes over the last several years near Lake Sumter Landing and 466a. At that time we found discounted new build homes because the developer wanted to finish the neighborhood and move onto the next project. There were some good deals to be had.

Babubhat 08-01-2022 12:27 PM

They are overpriced. Many will need a roof, ac, water heater etc. better off with new

manaboutown 08-01-2022 12:57 PM

Quote:

Originally Posted by flower7330@gmail.com (Post 2121190)
We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

Location, location, location is a time honored real estate adage.

Flyers999 08-01-2022 02:07 PM

Quote:

Originally Posted by Altavia (Post 2120907)
Link to the full document.

Q2 Market Update 2022

What percentage of homes are being bought by real estate investment companies this year?

Boilerman 08-01-2022 02:46 PM

Quote:

Originally Posted by flower7330@gmail.com (Post 2121190)
We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

It’s not unusual to see a pre owned home with $50k of upgrades. Some listings claim $150k of upgrades. A pre owned home less than 10 years old with a bunch of upgrades is a better value than a brand new home.

Flyers999 08-01-2022 02:50 PM

Quote:

Originally Posted by flower7330@gmail.com (Post 2121190)
We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

Also either low or no bond on older homes. (Sorry if this has already been mentioned.)

Packer Fan 08-01-2022 09:29 PM

Quote:

Originally Posted by flower7330@gmail.com (Post 2121190)
We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

Preowned have-
upgrades done - these can be expensive
Some of the bond paid
bigger yards
Closer to shopping and golf courses
NO TOLLWAY NOISE
Closer to more town squares
Sometimes some furnishings or a golf cart.

I have bought one of each, it all equals out

westernrider75 08-02-2022 06:05 AM

IMO it’s mostly because upgrades like driveway painting, landscaping and interior upgrades have been done. Bond May also be paid, or paid down.

Personally, I don’t want the traffic that all the shopping areas bring, so that would be a negative on my list.

Bay Kid 08-02-2022 06:12 AM

Quote:

Originally Posted by flower7330@gmail.com (Post 2121190)
We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

Location, location, location.

These stats are on Village sales, does not include Realtor sales.

Papa_lecki 08-02-2022 06:41 AM

Quote:

Originally Posted by Stu from NYC (Post 2121269)
I have heard that but for the other 20% who need a mortgage costs will go up and supply of buyers who can afford this place will go down.

That doesn’t mean the 80% need a mortgage. With mortgage rates at 2 or 3%, you finance, if they jump to 5 or 6%, you pay cash, or finance a much smaller amount.

Papa_lecki 08-02-2022 07:07 AM

Quote:

Originally Posted by Flyers999 (Post 2121357)
Also either low or no bond on older homes. (Sorry if this has already been mentioned.)

That’s impossible, I’ve read on here MANY times, a house with $0 bond is not worth more than a house with a bond balance

Papa_lecki 08-02-2022 07:11 AM

Quote:

Originally Posted by flower7330@gmail.com (Post 2121190)
We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

It’s almost impossible to generally compare 2 homes, without knowing the details of what’s included.
With a new home, there are always upgrades that need to be made. Most pre owned homes have many thousands of dollars in upgrades. The area around an existing home is most likely fully build out and already has established traffic routes.

As mentioned, established home MIGHT have replacement/maintenance costs sooner.

Laker14 08-02-2022 09:10 AM

Quote:

Originally Posted by flower7330@gmail.com (Post 2121190)
We are looking at some of the new spec homes in the new areas. The prices have gone up from last year but they still aren't as high as the pre owned homes in other areas of TV. My question is why are the preowned homes so much more expensive than the new homes. It doesn't make sense to me.
Can someone please explain this to me?

I wasn't aware of this phenomenon. But, as mentioned before, it's tricky to compare prices without looking at the particulars of each home. When I was shopping for a home in TV, I found that pre-owned homes were a better value, IMO, when I factored in upgrades, and bonds. Bonds don't affect the value of the house, unless of course, one can do math.

I also factored in age of roof, HVAC etc etc, and where I wanted to live.

vintageogauge 08-02-2022 09:16 AM

5 years ago when we bought a new home the re-sales were also higher and our agent said they always are. We looked at both and chose new because there was no wear and tear on anything and at the time you can pick any lot you wanted and they were cheap. Also took into consideration the new home warranty.

Bay Kid 08-03-2022 06:55 AM

Quote:

Originally Posted by Papa_lecki (Post 2121547)
That’s impossible, I’ve read on here MANY times, a house with $0 bond is not worth more than a house with a bond balance

It was to me when I was buying.


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