[Topspinmo]

Originally Posted by Bogie Shooter

Not new rule…..been here a long time.

Maybe it changed from 2 years to 1? Why said new rule. I wonder if I pay cash for house how can the stop me form selling it?

[retiredguy123]

Originally Posted by Topspinmo

Maybe it changed from 2 years to 1? Why said new rule. I wonder if I pay cash for house how can the stop me form selling it?

The rule is not new. It has always been one year and it doesn't matter whether or not you paid cash. But, you can add the full cost of upgrades and the real estate commission to the sales price before you calculate the "profit". So, if you paid $300K, and added $50K in upgrades after the sale, you can sell the house for $350K plus the real estate commission. If you sell for more, the difference goes to the developer. This is a contractual agreement that you must agree to with the developer at the closing on a new house.

[asianthree]

Originally Posted by VApeople

I think it is stupid people buying a house in a stupid location or on a stupid lot.

Once they realize they made a stupid decision, they want to move.

So you think anyone who buys a home and sell in a year is STUPID. What a harsh thought, telling someone they are just to stupid to exist.

We know 4 couples that are selling just over a year of buying. One needed a bigger home due to parent moving in, one moving back north to take care of their daughter in hospice, and their grandchildren.

Last two spouse died, you should let them know how STUPID they were for marrying the love of their life, and then they died, and put their home up for sale.

[CFrance]

Originally Posted by Calisport

The villages has a new rule when you buy - no resales until after 1 year because of buyers buying multiple homes and making a profit right away.

That's not a new rule. It was in place in 2011 when we bought our house. It's to keep investors out. That might not be working nowadays with how fast the prices are going up. But it's still the rule.

[asianthree]

Originally Posted by Topspinmo

Maybe it changed from 2 years to 1? Why said new rule. I wonder if I pay cash for house how can the stop me form selling it?

In 07 we paid cash for vaca home in TV, the rule you could sell before a year, but any profit ABOVE normal closing, and certain about of upgrades, went back to the developers. Houses were selling in 07, just like today, no inventory, multiple people on the list to buy same home.

Only new item now is new homes can’t be used for investment, it’s now in the closing paperwork.

[Rwirish]

Buy too quickly, buy on emotion, tired of living close to the turnpike …

[Worldseries27]

Originally Posted by vapeople

i think it is stupid people buying a house in a stupid location or on a stupid lot.

Once they realize they made a stupid decision, they want to move.

perfect example of counting to 3 b4 hitting send

[eeroger]

Location, location, location!!! New home buyers find out HOW FAR they are from everything. No infrastructure to speak - grocery store, hardware store, restaurants, etc. Plus the travel time, if you are a golfer or bowler.

[Life as I know it]

People don’t do their homework, simply put they concentrate on the inside of the house instead of what is happening around them. The new homes are so close to each other, have shorter driveways and the streets are not wide enough to park a car on both sides. Why would you want to live next to the Florida turnpike which is currently expanding into a six lane highway?
People love the idea ‘new’ but it comes with a price. Having moved four times we settled into a established area. Put in updates, worth it for being close to Sumter Landing, oversized lot, established landscaping, shopping and so, so important peace, quiet and privacy.

[HeleneGB]

Turnpike noise

[midiwiz]

Originally Posted by Calisport

The villages has a new rule when you buy - no resales until after 1 year because of buyers buying multiple homes and making a profit right away.

yet another item that wouldn't stand up in court. If someone wants to take the capital gains hit for selling under the IRS 2 year limit then so be it. Someone will take it to court eventually and flush out the items that are just floated by the owners here just because they don't know enough.

Yet no one has mentioned craftmanship, abnormally short driveways, being very remote from everything (brownwood, LSL, etc), the prison, etc......

[txfan]

Here is the “rule:” Any profit on the sale of a new home within one year of the closing date is split with the developer.

There are many “flippers” who build/buy specifically for that purpose. Villages agents do this all the time in highly desirable locations.

So far in our newer location, at least three have sold with a closing date in the future to match their previous year’s closing date, making huge profits to fold into another home in the next new location.

One we know of is on their sixth “flip.”

[chenault55]

Originally Posted by Calisport

The villages has a new rule when you buy - no resales until after 1 year because of buyers buying multiple homes and making a profit right away.

We had the one year rule when we built our house 12 years ago too but like so many rules I don’t know if they enforce them.

[jimkerr]

Originally Posted by Lottoguy

When I look in the paper at the homes for sale it's surprising to see so many one year old homes being resold south of the Florida Turnpike. What is going through these recent buyers heads? Your barely settled in and your selling your home already. What gives?

You must be new here. The average Villager ends up having 3 different homes! Also I suspect many bought sight unseen (very bad idea) and didn’t like the turnpike noise or perhaps the power lines in their back yard.

[G.R.I.T.S.]

Originally Posted by Calisport

The villages has a new rule when you buy - no resales until after 1 year because of buyers buying multiple homes and making a profit right away.

Not a “new” rule. It was in force in 2005 when we bought.