[asianthree]

Originally Posted by Normal

Except more than half the neighborhood is still up for sale and this isn’t the only one, there are a few. The drop of the market is at the door. It should be a great time soon to buy for some. Bargains will abound. Lake Denham isn’t even built out yet.

Homefinder - The Villages(R) Homes and Villas for Sale

Our second house village was in the end of finishing. There were 52 homes at a reduced rate, that was 2010. We bought one was reduced by $17,000.

[huge-pigeons]

I’m not sure I want people to buy here if they can’t afford the going prices because if they can’t afford it now, how are they going to afford all the upkeep needed down the road? I’ve seen too many areas that used to be nice but when a downturn occurred, more people that couldn’t really afford the area bought bigger expensive homes at lower prices and then they couldn’t afford the upkeep. After a couple years, the house looked like cr@p because of the lack of funds to properly maintain their house and lawn, then a lot of the subdivision started looking like cr@p.

[BrianL99]

Originally Posted by huge-pigeons

I’m not sure I want people to buy here if they can’t afford the going prices because if they can’t afford it now, how are they going to afford all the upkeep needed down the road? I’ve seen too many areas that used to be nice but when a downturn occurred, more people that couldn’t really afford the area bought bigger expensive homes at lower prices and then they couldn’t afford the upkeep. After a couple years, the house looked like cr@p because of the lack of funds to properly maintain their house and lawn, then a lot of the subdivision started looking like cr@p.

Perhaps talk with the Developer's Sales Department and see if they'll allow you to financially vet all potential buyers, before they can make an appointment with a salesperson?

I'm not sure how you'd monitor the on-going financial condition of buyers. Maybe they could be be required to send you a copy of their tax returns, before they file with the IRS?

[Babubhat]

It’s spitting into the ocean for the developer. Cash flow is more important with high interest rates. The influx from high tax and cold weather states will never stop. The machine will roll on.

People fail to understand the multiple perpetual revenue streams earned by the developer is more important than the odd sales price cut.

Location, location, location has a significant part to do with home sales in T V.

T V buzzzz boasts of Eastport as the "new" center of T V. 3 -5 years ago Brownwood was marketed as the center of TV. Sawgrass and Eastport seem to be designed a lot like they are "twinning" however Eastport seems to be designed a little larger than Sawgrass for sport-like activities and has a lake with a sitting spot for sunset views.

Having lived in the South of 44 area for 3 years, I can tell you typical retail beyond a Publix shopping plaza is not a hop skip and jump away. Brownwood will be the center of the Villages for a very long time as major retail will still develop around it on 44, EVENTUALLY.

Even with all that Brownwood offers via golf cart you still have a hike to get to all the necessary retail for more than just again, Publix shopping plazas.

Preowned homes closer to Brownwood sell and the pricing reflects that location matters as pricing on those home remain strong and go up not down.

It will be a very long time before the old 470 area has retail people are accustomed to for more than just groceries and medicine.

12 years ago the St James area behind Lowes was built. 466A developers are still building out the retail on 466A. 12 years and just now adding to the populus more restaurants, drug stores, large well known retail stores like Home Depot and Target etc.

44 has added a McDonalds in the last 5 years (can't think of anything else within close range to the bubble). Developers are not yet investing in the 44 area.

The Villages is buying up all the land around the old 470 to add to the bubble. The newest area of The Villages is not really connected to any retail area other than Leesburg and Clermont so imo prices dropping also reflects less interest in the area as it currently exists.

That area has higher taxes and way higher bonds with the luxury of a turnpike to take you 20 miles out of the bubble for a new Clermont Costco and the fun high density traffic Orlando has to offer. Hustle and bustle is not imo super attractive if you are looking for golf cart retired have more relaxed living.

I myself like the pleasant treed in hilly drive up through Lake Buena Vista from 466A to 466 so pre-owned homes up that way are more appealing to get to retail T V just doesn't offer or negotiate into design of "the NEWSEST center" of T V.

Affordability is a reason for buying a house in the undeveloped areas. Hey, whatever it takes to get here. I bought S of 44 because it was what I could afford. My goal was to get here. At the time I bought the last affordable house in my price range.

The bubble is great. If you build it, "they will come." Wherever you buy it's still all good, it just might be a while for larger retail to be easily accessible from the newest areas.

[Justputt]

We ended up right around $250/sq.ft. for a designer w/preserve view, which considering where we are coming from Upstate NY, is a pretty good deal. We were told TV doesn't negotiate home prices, but we watched a home for months drop >10%, which our agent said was market adjustments. TV basically cuts the price of houses not moving, which isn't shocking tbh. Buy what you can afford, be happy, and don't worry about what could have been. In hindsight, we've all missed a lot of deals. Yes, Eastport will likely be a major hub, and you will pay to be there along with A LOT of other people, noise, traffic, etc., or I can be away from that and take a 4 mile car/cart ride from a peaceful area. I suspect I'll still be around Brownwood more even though it's further since I like the vibe.

[Normal]

Originally Posted by GizmoWhiskers

Location, location, location…Preowned homes closer to Brownwood sell and the pricing reflects that location matters as pricing on those home remain strong and go up not down…It will be a very long time before the old 470 area has retail people are accustomed to for more than just groceries…Affordability is a reason for buying a house in the undeveloped areas. Hey, whatever it takes to get here. I bought S of 44 because it was what I could afford. My goal was to get here. At the time I bought the last affordable house in my price range.

The bubble is great. If you build it, "they will come." Wherever you buy it's still all good!

What you say about location is very true. There is nothing near Denham where the discounted homes are located. The closest Villages venue is Sawgrass or Franklin recreation center. The bridge to get over to newer Eastport is a fair drive let alone getting to Eastport itself. Groceries and gas are a the marathon of golf cart drives also. The closest is Magnolia or Lake Deaton. Perhaps one day 470 will build up with supportive infrastructure and business, but the Villages has already bought much of that all the way out to Honeycutt and it seems their business model doesn’t usually include affordable retail outlets.

Quite possibly the discounts on new construction were exasperated by the imminent arrival of the real estate crash, economy and excess rental housing inside and outside the Village’s locus.

All will sort itself out eventually as we enjoy retirement in the best place on Earth.

[nancymiller217@yahoo.com]

Originally Posted by ThirdOfFive

Possibly. But a 6% drop in housing costs is more than offset by the increase in interest rates. Home ownership in TV is 87.1% but the vast majority of those, nearly 70%, have mortgages (datausa . io). It seems logical to assume that that ratio won't be decreasing any time soon.

Additionally, one must consider the recent RISE in prices when comparing it to the recent drop. Since Quarter 2 2020 to Quarter 2, 2023, the average purchase price of a home in TV has risen from $279,120.00 to the current average price of $406,370.00. That is a 30+% RISE in three years, and coupled with the interest rate increase over the same time period that 6% is negligible.

Just curious as to the source of that information—was wondering what % of homes here had mortgages.

[BrianL99]

I hate to throw shade on people's dreams, but Sawgrass & Eastport are never going to be the "Center of The Villages", they're merely way stations on way to more semi-urban sprawl.

In case you've been sleeping or just not paying attention, the Developer keeps refining his development model and the "Town Square" concept is gone. Gone are the days, when the amenities are built before new homes. It's a different world out there.

Gary Morse was a visionary and creator. His progeny are simply riding his coattails, living off his reputation and milking the cow for as long as they can. The "Developer" is no longer a creator, they're just land developers and home building coordinators. Slapping up subdivisions as fast as the market can absorb them.

[Rosethorn]

Originally Posted by Normal

The 25 K price drop can buy a lot of furniture.

1616 Rowell Street
Village of Lake Denham
Yesterday 374,920 now 349,500. That’s a little bit of coin

The house we purchased had just gone through a $20,000 price drop and that’s when we jumped in.

[OhioBuckeye]

Well It’s tough to know when to buy when the economy is so screwed up! I think we sold to quickly in TV. But at the time it was good, the Feds have to much control & the American people have no say so what’s going with the economy.Just be glad the home prices are still high enough to keep the undesirable’s out. It’s a scary world with just about the whole world at war. Just scary to think how soon will a war come to the U. S.!

[JP]

When we bought 10 years ago we got a 10% discount which was standard and not based on last build.

[CoachKandSportsguy]

Originally Posted by Normal

With the Villages now discounting many homes, I wonder where the bottom is before buying.

Are you advocating market timing to buy a house? Selling one house and buying to live in another is a net neutral to net positive financial decision. . . which most of TV home buying is built upon.

Confusing a first time buyer, requiring furniture, etc, is not the same most buyers in TV, where they are selling one, can bring their own furniture, and buying another of lesser or equal value, without a mortgage.

Market timing buying a house in which to live, if done right, requires selling the top and renting from market top to market bottom which means that you are reducing your capital to buy, assuming retired and not working, through rent, and if long slow enough decline, you won't have enough capital to rebuy. . .

so the whole discussion is better for the people looking to buy AS LONG AS the house they want is part of the price reduced, or is a price only decision. Housing purchases are more emotional than a commodity price only purchase, so not sure the price discount is anything but a spare time filler, or convenient for a few current buyers.

meaningless here in TV

[Ksfirefighter]

I hope the New at Richmond go to be Owner Occupied!

[manaboutown]

The developer charges what the market will bear and adjusts prices accordingly. It can do that as its profit margin is titanic. IMHO the 30 year mortgage interest rate hovering around 8% has a lot to do with the recent price reductions,