[village dreamer]

lets see.... i paid 250k for my house ,10 years ago. and now its worth 500k , but i lost 20%.??? if i keep losing 20% like this ill be a millionaire.

[Altavia]

Originally Posted by SoCalGal

Our lifestyle tour realtor said that price declines elsewhere in Florida don't significantly impact the home values in The Villages. What has been your experience?


Florida Housing Market Facing 'Widespread Price Declines' - Newsweek

The Villages is a different animal, Zillow and Redfin data is garbage given most sales are not MLS.

Historicaly, prices have risen proportional to new home prices. There is often 20+ people competing for premium lots on the new areas near Eastport.

The Villages Q3 Market Update

[Ash Marwah]

Originally Posted by SoCalGal

Our lifestyle tour realtor said that price declines elsewhere in Florida don't significantly impact the home values in The Villages. What has been your experience?


Florida Housing Market Facing 'Widespread Price Declines' - Newsweek

High-rise condos are declining fast because of the exorbitant HOA fees. Homes in West Palm Beach, which used to sell in 1 day are not selling even in 3 months.
Price Declines' are happening all over Florida. Migration to Florida from other states has dropped to 64,000 in 2024 after 322,000 in 2022 and 185,000 in 2023. Immigrants are still moving into Florida, 411,000 moved to Florida in 2024. But I don't know if these immigrants have the buying power to buy houses in Florida.

[Cuervo]

When judging price fluctuations on houses there are many factors to consider, and some are out of the control of the homeowner.
One of the main things that comes into play are you buying a house as an investment or as a home to live in.
The main difference is buying as an investment you are more aware of the market, when purchasing as a home you do not pay attention to the market as much since you are more committed for the long term.
A good example is to watch a movie titled The Big Short, it will give you a perspective of a home or a house.
I lived here 14 years, and the value of my home is about double, if I had bought this as an investment I would have not kept if 14 years and would been more a tuned year by year of the value.
The Village is different than most communities in what it offers which makes the ups and down of the housing market not compatible to the rest of the country. As long as there is a segment of the population interest in what The Villages is offering there will be more stability.

[elle123]

A house is worth what a buyer is willing to pay.

[rsmurano]

This is a fallacy! I have friends trying to buy new homes in the new section and they are placed is lottery with over a hundred other people vying for the same piece of property, spec home or lot to build on. I thought I heard 1 of them say the villages increased the cost of new homes x% early last year. So if you have this demand for new homes, why would TV lower the prices? They haven’t.
As for existing home prices, location location location. In the northern part, prices are soft according to the quarterly report. As for the southern part, not at all.
I have friends selling their 3 year old home for over 50% of the purchase price. I know of a house they are asking for 100% gain in 4 years but it is in a terrible location and hasn’t sold. So if this homeowner drops his price 15% does Zillow claim the sky is falling? In my mind, it was listed too high to begin with.
My buddy just built a new home in the new section that resembles ours for double the price we paid for ours 3.5 years ago, and we have major upgrades. So I would ask close to what my buddy paid for his for mine if I were to sell. TV real estate people claim used homes go for more money than new homes.

[Bill14564]

Originally Posted by village dreamer

lets see.... i paid 250k for my house ,10 years ago. and now its worth 500k , but i lost 20%.??? if i keep losing 20% like this ill be a millionaire.

That's one way to think of it. Here's another...

You don't have that $250K in your pocket to spend, it's tied up in the value of your house. It doesn't put food on your table or get you on another cruise. All that $250K does is cost you additional money in your property taxes at the end of the year. You haven't put a penny into the bank but you are now taking $2,500 more out of the bank every year.

But you can sell your home and then you'll have the $250K in your pocket! Yes, but how many nights in a hotel will that buy? You no longer have a house to live in and you'll have to sleep somewhere. If you take the money and buy another house will you get twice the house you once purchased for $250K or will you find that you can afford exactly the same amount of house as you did 10 years ago?

The home you live in is not an investment unless you can truly do without it when you sell. I cannot, I need a roof over my head, the home I live in is a necessity, not an investment.

EDIT: I suppose where this is not true, where a home *can* be an investment, is if you purchase a new home in the Villages. After the sale you live in it, add upgrades to it, finish it, furnish it, put in landscaping, and then sell it after a year. There is probably some real profit to be made there.

[Ignatz]

Originally Posted by rsmurano

This is a fallacy! I have friends trying to buy new homes in the new section and they are placed is lottery with over a hundred other people vying for the same piece of property, spec home or lot to build on. I thought I heard 1 of them say the villages increased the cost of new homes x% early last year. So if you have this demand for new homes, why would TV lower the prices? They haven’t.
As for existing home prices, location location location. In the northern part, prices are soft according to the quarterly report. As for the southern part, not at all.
I have friends selling their 3 year old home for over 50% of the purchase price. I know of a house they are asking for 100% gain in 4 years but it is in a terrible location and hasn’t sold. So if this homeowner drops his price 15% does Zillow claim the sky is falling? In my mind, it was listed too high to begin with.
My buddy just built a new home in the new section that resembles ours for double the price we paid for ours 3.5 years ago, and we have major upgrades. So I would ask close to what my buddy paid for his for mine if I were to sell. TV real estate people claim used homes go for more money than new homes.

So nice to see some common sense on one of these threads!

TV houses are NOT the same as the average 3BR/2B house in the outlying areas.

People from all over the map are not clamoring for DR Horton type tract housing as they are the TV lifestyle.

If we listed our home for 15% less than we bought it for last year, we'd probably have a line of people helping us pack so they can get into it!

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

Are you referring to the condos at Spanish Springs, Glenview or Tierra Del Sol? I don’t think TV has built condos in the last 20 years, but I may be wrong.

[ThirdOfFive]

Originally Posted by SoCalGal

Our lifestyle tour realtor said that price declines elsewhere in Florida don't significantly impact the home values in The Villages. What has been your experience?


Florida Housing Market Facing 'Widespread Price Declines' - Newsweek

All depends, I suppose, on how one defines "significantly".

[jojoturf]

2-yr old homes in our Village are selling between 30-40% higher than the purchase price and in the market for a short period of time. Location, location, location, I think, is a key driver!

[MikeN]

We put our home on the market three months ago, a three bedroom, two bath, three car garage with the largest and most private corner lot veranda at almost $50k more than where it is today either ZERO interest as a resale. We are in competition with the developer who continually floods the market with half million dollar fixer uppers that is impossible to compete with. No one has considered all the improvements one will find in a newer resale. Doubt this response will be published

[Bay Kid]

I love my current home and I'm not worried about the value. I loved my last home in The Villages and it rewarded me with a nice profit.

[villager7591]

Be aware: it is difficult to analyze. When new homes are purchased, they are relatively "bare," meaning, not many upgrades, if any. For example, if you want custom landscape, palm trees, solar tubes, generator, a pool, plantation shutters, customize driveway/garage, glassed in lanai, etc. I've heard a typical Villager puts $50K in upgrades in his/her house. Our first house, we put much, much more than $50K. So often it is hard to analyze because the house a homeowner is selling is much different than when he/she purchased.

[vintageogauge]

Originally Posted by BrianL99

Only 20%--25% decline over the last 2 years. Not bad.

I haven't seen that at all. We recently sold our home and had been contemplating selling for the last 2 years. I watched monthly for those 2 years at comparable homes and they continually increased in value and it sold within 3% of my calculated asking price and was sold to the second family that made an appointment to see it. That being said, our home was a model that there are very few available at any given time and it was on a premium lot. Other more common models on inside lots with no view, water, or golf course might be a different story.