[Normal]

News straight from The Villages. Need I say more. If you need more cool aid, just read their paper and enjoy the day.

[GoRedSox!]

I am in the camp that The Villages is going to continue to build, build, build, and people are going to continue to buy, buy, buy. They will keep on expanding South, this formula has not only worked for more than two decades, it's getting better.

Florida, as a whole, has three huge great things for retirees:

1. Weather

2. No state income tax

3. Reasonable property tax

I think the fun is just starting and The Villages is less than 50% complete....it will be fun to see who is right. Whatever your opinion, enjoy every minute!

[BrianL99]

Originally Posted by GoRedSox!

I am in the camp that The Villages is going to continue to build, build, build, and people are going to continue to buy, buy, buy. They will keep on expanding South, this formula has not only worked for more than two decades, it's getting better.

Florida, as a whole, has three huge great things for retirees:

1. Weather

2. No state income tax

3. Reasonable property tax

I think the fun is just starting and The Villages is less than 50% complete....it will be fun to see who is right. Whatever your opinion, enjoy every minute!

The Villages won't stop, until it reaches the outskirts of Tampa!

Why would they? They have a business model that works.

[margaretmattson]

Originally Posted by GoRedSox!

The two greatest forces in free markets are supply and demand.

Focusing on the demand part of that equation, we have to look at the demographics of the country. 10,000 people turn 65 every day. The percentage of people who will be senior citizens continues to increase and will for many years to come. Millions and millions more retirees are on the way in the years to come. The demand side of this equation is going to be here for the premiere 55+ community in the country.

I don't think there is going to be any significant slowdown in the future. Unless there is another 2008 Great Recession, but that is unlikely.

When looking at demand for a product, you do not merely look at potential buyers.They can provide a forecasted sales projection, but that is it.

You have to look at the supply and demand in the here and now. A slight downfall does not mean the market is crashing but it is a cause for concern. High-interest rates, extreme weather which includes hurricanes, lightening strikes, and excessive heat, the highest insurance rates in the country, limited medical, and the generation of baby boomers reaching the retirement age coming to a close, does not help the numbers.

But, no state income tax, a beautiful community, carefree lifestyle, low crime, and friendly neighbors helps the numbers.

What is going to happen? No one really knows. Simply, be careful of looking at the Villages through rose-colored glasses.

[frayedends]

Well if people want to speculate on the southern area, I can offer one anecdotal example. I bought in Lake Denham. I was considering waiting for Eastport area. I only showed up in August to look around (had a rental) and see what was coming. When we drove through Eastport areas we didn't see much but flat land and not many areas that would be preserve type sites.

So we found a lot in Lake Denham that is on a preserve and a retention pond. We loved the lot and the house was suitable to our needs. So we bought it. But our lanai is empty. Our lights are off. We are a couple years from being able to move. We still work in Massachusetts. We will spend maybe 2 months total per year until we get there.

I can say the interior lots aren't going as fast as our preserve lots went. But in just the past 2 days we saw 2 houses go from pending to sold and 2 more go from available to pending. That was just in our neighborhood. Not all of Lake Denham, but one area (seems like Lake Denham has about 6 of these areas I'd call a neighborhood.

If they are still selling 350 per month, they are doing fine. They just have a lot of inventory right now. I'm sure lots of folks still holding out for Eastport area.

[twoplanekid]

Many things work in cycles. I would suggest that sales of houses in the Villages also come and go in cycles. It's interesting to note that sales of new Villages homes still have not yet reached the peak of Village sales that occurred in the years of 2004, 2005 and 2006. Maybe that is a good thing??

[margaretmattson]

Originally Posted by Markus

BUT.... if you look at MLS sales in The Villages sales are also holding steady as well. In talking with a realtor investor sales have slowed down. Reason is if they have to take out a loan now with higher interest rates the math no longer works.

Higher interest rates does not only apply to mortgage rates. A potential cash buyer has an option. Invest the $500,000 and receive income or use the $500,000 to buy the new home. Many of my younger friends are choosing to invest rather than buy. They use their income to go on trips and to splurge on luxury items.

[vintageogauge]

Originally Posted by margaretmattson

Higher interest rates does not only apply to mortgage rates. A potential cash buyer has an option. Invest the $500,000 and receive income or use the $500,000 to buy the new home. Many of my younger friends are choosing to invest rather than buy. They use their income to go on trips and to splurge on luxury items.

I have to assume that your young friends already own a home as if they do not and have to rent, that investment income is pretty much used up and they lose the potential appreciation in a new home. If they already own a home that they are happy with I would agree that making their money work for them in this environment is a good thing.

[frayedends]

I bought the house in the Villages, even at crazy interest rate, because every time we put our money into our retirement this year it disappeared in a day. Rather put it in the house. The house may end up our forever home and it won't matter as an investment, but either way seems like a better deal than the market.

[Normal]

Originally Posted by frayedends

I bought the house in the Villages, even at crazy interest rate, because every time we put our money into our retirement this year it disappeared in a day. Rather put it in the house. The house may end up our forever home and it won't matter as an investment, but either way seems like a better deal than the market.

I agree in some respects. The market isn’t the place to be now. Bonds are paying almost 6 percent. Real estate isn’t the place to be either. When a house loses 20 k overnight, I think I’m good with my T bills.

[R20-Matt]

Originally Posted by Altavia

REAL ESTATE MARKET UPDATE
THIRD QUARTER 2023
Community-Wide Results by Properties of The Villages

To the OP, where is this published?

[Pat2015]

Agree! New home sales are doing better than preowned home sales and averaging 30 days on the market. The plan south of 44 was to double the size of TV and buyers are liking the new homes.

[BrianL99]

Originally Posted by Pat2015

Agree! New home sales are doing better than preowned home sales and averaging 30 days on the market. The plan south of 44 was to double the size of TV and buyers are liking the new homes.

It's an entirely different market.

Buyers in the South are buying homes and getting "more house" for their money.

Buyers in the more established neighborhoods to the North, are buying lifestyles.

Apples & oranges.

[margaretmattson]

Originally Posted by vintageogauge

I have to assume that your young friends already own a home as if they do not and have to rent, that investment income is pretty much used up and they lose the potential appreciation in a new home. If they already own a home that they are happy with I would agree that making their money work for them in this environment is a good thing.

Yes. They own their homes free and clear or are sitting cozy with a 2.5 % mortgage. When they reach 59 1/2 yrs old, instead of spending their lump sum distributions on the purchase of a new home, they invest the money to make income. By staying in their home, they also avoid higher property taxes and insurance.

[margaretmattson]

Originally Posted by Pat2015

Agree! New home sales are doing better than preowned home sales and averaging 30 days on the market. The plan south of 44 was to double the size of TV and buyers are liking the new homes.

It is not good that new home sales are doing much better than preowned. We are all living in the same community. If the newer homes were not associated with the Villages, then it would be a great thing. Remember, the minute you close on your home, you are now living in a preowned home. You are just as vulnerable (or profitable) as everyone else.