[Russ_Boston]

I like the time window that you've painted. I'm noticing that first time homes are starting to move rather quickly here in MA. That is the first sign that the trend will be up since we need new comers to allow the first home buyers to move to their second home etc. etc.

TV may be a little different since most people moving here are on at least the second tier of home ownership if not the third or higher. It might take a year or more to move the food chain up far enough to allow them to sell their 'northern' home.

[samhass]

Not sure about the glut you speak of. I have had almost 300 inquiries on my Mallory rental for the 2009 season. Callers are telling me that many of the homes a booked already.
Maybe they are referring to higher end properties. I'm not sure.

Originally Posted by Lovetobike

I rent in TV each winter for four wonderful months. Last year I placed an ad in the SUN. I got a lot of responses! I was able to rent a 3 BR new Villa for $2000 a mo. plus $100 a month for golf car.
The response tells me there is a glut of rental available at all price ranges.

[l2ridehd]

There are many other things to consider when trying to pick the right time to buy. I agree that we are at or close to the bottom of the price curve. It may go a % or 2 lower, but not much more then that. Also we are probably close to the bottom of the interest rate curve. Other things to consider, would you use the home if you bought now? Would you rent it any? What would the cost difference be if you wait? I worked mine out using a possible purchase of a 250K home. With 20% down you end up with a monthly cost for mortgage, taxes, mowing, water, electric, TV fees, and everything else I could identify of about $2,000 a month. I think I may actually come in just slightly under that, but it could also be a little more with a higher bond. So if I use it for 1 month a year and I rent it for 4 months a year, the net cost to me will be somewhere around 12K a year, even a little less if I consider the added tax deductions.

Do you believe homes in TV will appreciate 5% a year for the next 36 months? Do you believe interest rates will increase in the next 12 to 24 months? If your answer to these two questions is yes, than now is probably a good time to buy. You could wait for 6 to 12 months and may do a little better, but I think the odds are you will do a little worse.

In either case right now the selection is great, owners are willing to deal, and you can pretty much cut your own deal. Once prices start to move up even the slightest amount that will change. So as you have guessed by now, I bought a couple months ago. I think it is very unlikely I will lose anything and I have a lot more potential to gain value.

[tomlargay]

We purchased a new house over a year ago. We have had TV's Property Management handle the renting and have been very satisfied. They have it in the sales preview program so it has been rented most of the time, including some summer weeks in 2007.

I am a CPA so the tax situation was easy. But as stated above, if you are planning on renting you should consult a tax professional before and after you decide to buy/rent. In our situation the cost of ownership is about $1,500 a month. The cash flow for a year is close to the break-even point, but do not expect to make a hugh profit. It can if handled correctly be a good tax shelter. :bigthumbsup:

We are soon to be out of the rental prgram as we convert to being full time. If we had to do it over again, we would use Property Management again. It is very difficult to be a landlord from 2,000 miles away.

TL

[wlou]

I agree! I also think that the folks debating about when to buy, etc. need to think along the lines of ..Is TV the place I want to retire? If so, buying then renting now does make sense. We will not be FT for at least 3 yrs like stated but enjoy the fact that we got the house,price and village we wanted. Of course, ANYONE who bought in 2006 wishes they had waited for price reasons, but no one I have spoken with regrets buying. It is a personal decicion and it does make good sense tax wise.... Good luck, it is a hard decision! My opinion, and you know what they say bout them!) is keep looking until you see the house you just love, then buy. You cant go wrong...It took us 2 1/2 years of looking to buy....

[handieman]

We rented our villa part time while we worked our jobs up North. Used our villa the maximum number of times the IRS would let us before they strike some of the deductions. We bought right and furnished it as if it were ours to live in. The tax benefits were wonderful plus the rent absorbed some of the upfront costs. We had wonderful tenants and now that we are ready to move in ourselves, I have a list of callers wanting to rent mine or any home I suggest. I now assist others in the rental process and I can say there is no glut of nice rentals and no end of potential renters. The two go hand in hand. Don't be afraid to follow your dream. The Villages is a win-win situation for everyone

Come join us, there are nearly 70,000 smiling faces in TV now

Handie :joke: