[TommyT]

I've turned into a YouTube junky. This week I've seen two realtors talk about the explosion of resale homes in the Villages. Each realtor stated they have never seen so many homes on the market.

So my question is is it the taxes both city and county or combined? Is it the amount for bonds? Is it the amenity fees going up? Is it the maintenance fees going up? I've read where people are saying the Villages "IS NOT" the Friendly villages it was at one time....

I dunno. Educate me please...

[Papa_lecki]

It’s profit taking and the explosion of new builds in the last 12 to 18 months.
New buyer must wait 12 months before they can sell, to keep 100% of the profit. We are hitting that time for all the new builds around Richmmond.

[fdpaq0580]

Here 11 years. Other than being bigger and growing, DW and I are still happy here. And, DW is very friendly and I am only mildly insufferable.
Village frogs.

[Stu from NYC]

Great place to live

With interest rates having gone up value of houses has gone down.

People not accepting it so price above market so on the market longer.

[Normal]

Originally Posted by TommyT

I've turned into a YouTube junky. This week I've seen two realtors talk about the explosion of resale homes in the Villages. Each realtor stated they have never seen so many homes on the market.

So my question is is it the taxes both city and county or combined? Is it the amount for bonds? Is it the amenity fees going up? Is it the maintenance fees going up? I've read where people are saying the Villages "IS NOT" the Friendly villages it was at one time....

I dunno. Educate me please...

It’s a fairly saturated market. The slowing desire for transplants to chose Florida has become more pronounced. You could point to the colossal collapse of the condo market, or insurance rates, or even increased costs in general to live here, but it’s so much more. It’s the record summer heat and the lost vibe of small town Florida. Borrowing rates aren’t great and many have felt inflation which removes the free cash feel to spend as you want in retirement.

All this together is helping create a stale desire and market.

[CarlR33]

This obsession with “hows the market” in TV.

[kansasr]

The Villages is not immune to a market slowdown when interest rates have been hovering around 7 %

[thelegges]

This has been a long going conversation. Some forget many move more than once within TV. Not everyone feels ties to any home once you become a resident. Some sell investment at 366 days, downsize, upsize, bigger garage, View, pool, want to live in a younger age neighborhood, or just like a newer house.

[MorTech]

With modern inflationary fiat monetary systems, there is always a cycle in desirable real estate. The Villages (and Miami) are very desirable. Sales will pick up in January.

...And, yes...There are some vapid/parasitic/deranged juveniles from the disgusting cities of the Deep North but they are not the majority.

[OrangeBlossomBaby]

And let's not forget that the mid-year Baby Boomers are turning 80. There are more PEOPLE at age 80, going into assisted living facilities, nursing homes, memory care, etc, than there were 20 years ago. More people moving out of their houses into facilities means more houses available for resale.

[Normal]

Originally Posted by OrangeBlossomBaby

And let's not forget that the mid-year Baby Boomers are turning 80. There are more PEOPLE at age 80, going into assisted living facilities, nursing homes, memory care, etc, than there were 20 years ago. More people moving out of their houses into facilities means more houses available for resale.

So true. We also have a general ending of the pension paid retiree and are now phasing into a group with less savings for retirement sustainability. There are investors and those with 501s, but they are few in comparison to the older pension recipients there used to be.

[MrChip72]

Originally Posted by Papa_lecki

It’s profit taking and the explosion of new builds in the last 12 to 18 months.
New buyer must wait 12 months before they can sell, to keep 100% of the profit. We are hitting that time for all the new builds around Richmmond.

I don't believe any homes have been completed in Richmond less than 18-20 months ago. Richmond and surrounding Villages like St John's and Deluna were all completed over 18 months ago.

I also live in that area and have definitely not observed people selling to cash out. The only people that I've seen selling were due to wanting to upsize or an unexpected death.

[Laker14]

One thing that seems certain in a community designed and marketed to "seniors", is turnover. People die, or age out of what was an appropriate lifestyle. That's inevitable. What is not inevitable is a steady stream of new buyers to take their place. People don't have much of an option on the one end. On the other end, if circumstances dictate, people can choose NOT to relocate. It might be a temporary decision, like waiting for their current home to sell, or working another year, or it might be a long-term decision, like choosing a different location.
IMO, even a temporary slowing down of demand will have an exaggerated effect on supply in a 55+ community, because of the constant and inevitable addition on the supply side. Demand may fluctuate, but the supply will remain steady.

[egmcaninch]

Originally Posted by Papa_lecki

It’s profit taking and the explosion of new builds in the last 12 to 18 months.
New buyer must wait 12 months before they can sell, to keep 100% of the profit. We are hitting that time for all the new builds around Richmond.

My personal opinion: 1) High & increasing amenity fees with irrigation, garbage, etc. 2) High property taxes; 3) An insane insurance market; 4) For many years, people move because of health reasons - to be closer to family. These are the things that would motivate us to leave.

[Cuervo]

This like almost anything it's based on supply and demand.
I've lived here 12 years, and my house has doubled in value.
Now there are many people from up north who have reached their retirement age, sell their oversize house and are looking for something more manageable that comes with a lifestyle they desire and are flushed with cash.
When it comes to the sellers there are of course the investors who believe this is a good time to sell and there are others who have reach the age where maybe because of health issues have to move on.
Even though the residence will tell you the growth of The Villages is out of control, the outside demand is still there and as long as that exists the prices will increase and buying and selling will continue.