[Love2Swim]

I had a friend who did that, and ran into a problem selling her old home in The Villages. The realtor had priced it too high, and after quite a few price reductions, it finally sold, but she had been counting on getting more money for it. She loves her new (pre-owned) home, but the moral of the story is - be careful that you have it priced properly.

[BRN_RI_FL]

Thanks everyone for your input. My wife and I were formerly boring, conservative accountants so I think we are going to step back a bit. We have a nice home in RI and the courtyard villa in Phillips Villas. I think if we are going to continue to be 50/50 at each location, then what we have now is fine. If we decide The Villages should be our full-time home, then it will be time to sell both RI and Phillips which will allow us to get a really nice place down here without any bridge loans, fees, equity loans, or financial struggle. Now I just need to convince the wife that we don’t need to see our kids and grandkids very often. Looks like it will continue to be 50/50.
See you in a few weeks B-flat.

[Jerseyjd]

Originally Posted by lrvalley

When we sold the old home, we paid off the home equity loan, and now have an open line of credit for 80% of the new home. The bank even pays all the closing costs!

Which bank waives the closing costs on home equity loans that are paid off quickly where the funds are available at closing and secured by the new purchase? We are looking to buy next Spring and contacted a few lenders in the area. Community Bank and Trust has a heloc program where the funds are available at closing but it does have closing costs. Citizens does not have a like program but does have a bridge loan product with higher costs than the heloc at Community. I was talking to an out of state mortgage banker today who commented that third party closing costs have been escalating rapidly.

[happy@last]

Thinking of downsizing from designer to patio villa in Mclure. Realtors are trying to tell me to get bridge loan but I don't want to. Looking for some trustworthy advice! got a bum deal on my 1st house so trying to be more careful this time. What's the general thoughts on moving south?? Quality of people, The quarry, home value, activities....just trying to be cautious...more singles??

[KSSunshine]

Originally Posted by Love2Swim

I had a friend who did that, and ran into a problem selling her old home in The Villages. The realtor had priced it too high, and after quite a few price reductions, it finally sold, but she had been counting on getting more money for it. She loves her new (pre-owned) home, but the moral of the story is - be careful that you have it priced properly.

Similar story, but we used the Villages Relocation Services who provided the names of two realtors in our area to interview. We selected the Realtor we thought could do the best job and had actually suggested the lower of the two prices. (We challenged the recommended price, but realtor was sure it should sell for that.) Unfortunately, the house was listed too high and still hasn't sold. Decided not to use Relocation services and have now relisted with a new Realtor and $15K lower. Since the house didn't sell, hubby didn't retire. So we cancelled the second half of our vacation so he could be back at work for a project. So the moral of the story is to make sure it isn't over priced.

We had been encouraged by the Villages Realtor to take a bridge loan back in October, but are pretty conservative in our finances. Glad we didn't go down that rabbit hole!

[BRN_RI_FL]

Originally Posted by KSSunshine

Similar story, but we used the Villages Relocation Services who provided the names of two realtors in our area to interview. We selected the Realtor we thought could do the best job and had actually suggested the lower of the two prices. (We challenged the recommended price, but realtor was sure it should sell for that.) Unfortunately, the house was listed too high and still hasn't sold. Decided not to use Relocation services and have now relisted with a new Realtor and $15K lower. Since the house didn't sell, hubby didn't retire. So we cancelled the second half of our vacation so he could be back at work for a project. So the moral of the story is to make sure it isn't over priced.

We had been encouraged by the Villages Realtor to take a bridge loan back in October, but are pretty conservative in our finances. Glad we didn't go down that rabbit hole!

We are also very conservative (in previous life both accountants) and decided against the bridge loan so we have decided to wait a while. We need to make some decisions first including whether we continue to own in RI. Also in our section of the Villages especially with Soulliere now selling there are many courtyard villas on the market. We’ve gotten an estimated sales price for our villa from our Villages realtor but that price is as high as brand new homes at Soulliere. We’re thinking that with the southern section of the Villages moving north there will be a good supply of homes available for years. No sense rushing into anything that we will be sorry for. Plus if we had to stay in Phillips villas that wouldn’t be a bad thing either.

[KSSunshine]

Hubby is an accountant too! Hence, we rush into nothing! I think you're correct in predicting plenty of homes as TV is certainly expanding!

[BRN_RI_FL]

Originally Posted by KSSunshine

Hubby is an accountant too! Hence, we rush into nothing! I think you're correct in predicting plenty of homes as TV is certainly expanding!

Good luck with selling your place!

[thetruth]

Originally Posted by Brucernelson

Thanks everyone for your input. My wife and I were formerly boring, conservative accountants so I think we are going to step back a bit. We have a nice home in RI and the courtyard villa in Phillips Villas. I think if we are going to continue to be 50/50 at each location, then what we have now is fine. If we decide The Villages should be our full-time home, then it will be time to sell both RI and Phillips which will allow us to get a really nice place down here without any bridge loans, fees, equity loans, or financial struggle. Now I just need to convince the wife that we don’t need to see our kids and grandkids very often. Looks like it will continue to be 50/50.
See you in a few weeks B-flat.

We bought in the Villages before selling our previous home.

Several reasons-First it takes my wife forever to make a DECISION. We had looked at the villages four times. I declared or get off the pot.

You state you and your wife are accountants. Few people realize or perhaps face what it costs them to keep a home
that they are not living in. In our case, our home was paid in full years before we sold it. In round numbers it was worth about 350. Assuming a stock market return of 8% has done far better than that over the past ten years or so. 350,000 x ,08=28,000. We had 10,000 in real estate tax +10,000. We had heating expense ???? 1800. Lawn would still need to be mowed etc ????? 1,000. We had DENNIS THE MENACE as our next door neighbor. They were FAMOUS or perhaps INFAMOUS in the school system. Hassle factor ????????? My FUZZY MATH point yearly cost to keep our previous home 28,000+10,000+1800+1,000 PLUS VALUE OF HASSLE=ABOUT 41,000 PER YEAR TO KEEP IT.
THE PRICE IS GOING UP. That argument makes NO SENSE at all on either end for us. Yes, the prices are going up in the Villages. The home we sold was and is still going up as well. According to Zillow, the rate of increase is a bit higher in the Villages than in our old area BUT, in my mind
the difference is insignificant.

Experience selling our previous home. My view is probably different than most. I worked as a salesman and have written orders up to 14 million-no it was not my 14 million-the 350,000 was mine. Your MEMORIES attached to your home HAVE NO VALUE TO THE BUYER. Your need to be able to FORCE YOURSELF TO look at your former property and see it as a competing product in competition with other PRODUCTS being offered. What you paid for it. What is still unpaid on the mortgage. What you need to get out of it to buy your dream place-HAS NOTHING WHAT SO EVER TO DO WITH WHAT IT CAN BE SOLD FOR.

As stated, we bought first forcing myself and my wife to go into ACTION. Priced CORRECTLY, our previously owned home sold faster than we/I had planned. Our place sold in only TWO WEEKS. We got a full price CASH offer from people who had just sold their place. We had another offer behind the one we accepted but that one with a mortgage.

Selling your home is spooky. We were lucky-OR PERHAPS PLANED IT RIGHT.

MY OWN SISTER-committed to buy a home. Tied the people up for months and then could not get a mortgage.
She had nice things to say about the sellers. My sister got all of her money back except for her atty fees. My sister was not happy that I told her she had screwed the seller-NOT THE OTHER WAY AROUND.

[Chatbrat]

we bought our house here, before selling our Palm Coast condo, fortunate enough the condo sold in 5 months after we moved here--no financing involved either way--but had to pay condo ass. dues and power to keep the a/c in the condo on

move and make yourself happy--no-one has a contract with GOD

[JohnN]

We did a bridge loan six years back. And our "old" villa sold in 3 weeks, so it wasn't much of an issue. The preowned market here looks pretty darn strong, in my opinion.
Get a hard working realtor.

[Chi-Town]

Used the Villages Relocation Service nine years ago. Very impressed all the way including choosing a mover.

Sent from my SM-N910V using Tapatalk

[I Tango]

We bought a CYV in Fenney in 1/18 with plans to rent it out for a couple yrs to decide if we wanted to more permanently to TV. Problem was our CYV rented out for 3 months but the rental management company we hired won't pay us our income. So we were forced to make a decision and we decided to move permanently to Fenney in 2 wks. Luckily we put our PA home up for sale and it sold in one day. Had 4 offers first day and accepted a nice amount over asking price. We were very lucky, but it sure would be nice to receive our rental income from the management company. But I don't think we ever will.

[vintageogauge]

Originally Posted by I Tango

We bought a CYV in Fenney in 1/18 with plans to rent it out for a couple yrs to decide if we wanted to more permanently to TV. Problem was our CYV rented out for 3 months but the rental management company we hired won't pay us our income. So we were forced to make a decision and we decided to move permanently to Fenney in 2 wks. Luckily we put our PA home up for sale and it sold in one day. Had 4 offers first day and accepted a nice amount over asking price. We were very lucky, but it sure would be nice to receive our rental income from the management company. But I don't think we ever will.

That is a shame to have used a unscrupulous agency. If it's the one I'm thinking of there has been a lot of chatter on here about them, you are not alone. Thankfully you were able to come down full time and no longer have to worry about renters or getting paid. Where are you from in Pa.? I'm originally from Ford City in Armstrong County.

[I Tango]

Originally Posted by vintageogauge

That is a shame to have used a unscrupulous agency. If it's the one I'm thinking of there has been a lot of chatter on here about them, you are not alone. Thankfully you were able to come down full time and no longer have to worry about renters or getting paid. Where are you from in Pa.? I'm originally from Ford City in Armstrong County.

Yes it is probably the same rental management company you've been reading about on TOTV. We're from right outside Hershey, PA.