[Bay Kid]

Location, location, location.

[jojoturf]

Correct, location is key. Pre-owned homes, all models, in the Village of Richmond, just south of Brownwood Square, are selling at 30-40% appreciation and just over 1 year old. Some owned by investment companies, who I’m sure aren’t over 55 yrs old!

[Marine1974]

Originally Posted by BPRICE1234

It appears that the used/pre-owned homes cost more than new. I understand that making a house your home takes money.

My question is home appreciation almost guaranteed in TV? We are looking in Denham/Dabney area but really want Eastport when it gets closer to being finished.

Should I take the discounted price and bank on a decent return when I sell in 3 years? I see so many listed and they don't seem to move that fast on the pre-owned.

Hard to say what will happen in 3 years . The government borrowed 11 trillion since March of 2020 and its now a run a way train .
Could be a default in 3 years .
We might need a wheel barrel
of cash to buy groceries.

[JRcorvette]

Originally Posted by BPRICE1234

It appears that the used/pre-owned homes cost more than new. I understand that making a house your home takes money.

My question is home appreciation almost guaranteed in TV? We are looking in Denham/Dabney area but really want Eastport when it gets closer to being finished.

Should I take the discounted price and bank on a decent return when I sell in 3 years? I see so many listed and they don't seem to move that fast on the pre-owned.

If you are just looking for investment return than buy new down south side. Resales are priced higher for several reasons: Location is a big one… Upgrades which you will end up doing… and Mature landscaping etc.

[Robojo]

Originally Posted by BPRICE1234

It appears that the used/pre-owned homes cost more than new. I understand that making a house your home takes money.

My question is home appreciation almost guaranteed in TV? We are looking in Denham/Dabney area but really want Eastport when it gets closer to being finished.

Should I take the discounted price and bank on a decent return when I sell in 3 years? I see so many listed and they don't seem to move that fast on the pre-owned.

I honestly feel we are heading towards another housing crash. One way the villages is protected is by retirement investment and annuity being peoples source of income. If those sources are at risk or go by by...

Plus. A lot of people pay cash here for a home. Bit a lot cant. Can the villages survive on only cash buyers in the future, if eco omy makes it unaffordable to others? I doubt it.

While I love living here, I personally don't see any "luxury". I'm guessing they keep that part of TV private. So we can't bank on big money holding us up. AND there are growing concerns for home insurance.

Its a gamble. Like anywhere else.

[Normal]

Originally Posted by Robojo

I honestly feel we are heading towards another housing crash. One way the villages is protected is by retirement investment and annuity being peoples source of income. If those sources are at risk or go by by...

Plus. A lot of people pay cash here for a home. Bit a lot cant. Can the villages survive on only cash buyers in the future, if eco omy makes it unaffordable to others? I doubt it.

While I love living here, I personally don't see any "luxury". I'm guessing they keep that part of TV private. So we can't bank on big money holding us up. AND there are growing concerns for home insurance.

Its a gamble. Like anywhere else.

Part of the pinch is 55% of all home purchases in the Villages are financed.

[sallyg]

All homes appreciate in the Villages. Buy new, you will spend a few thousand (or several thousand) finishing it the way you want, gutters, appliances, lanai flooring, surge protection, cabinet and counter enhancements, etc. etc. etc. Buy previously owned and it will all be done. You spend it one way or another.

[jimjamuser]

Originally Posted by Robojo

I honestly feel we are heading towards another housing crash. One way the villages is protected is by retirement investment and annuity being peoples source of income. If those sources are at risk or go by by...

Plus. A lot of people pay cash here for a home. Bit a lot cant. Can the villages survive on only cash buyers in the future, if eco omy makes it unaffordable to others? I doubt it.

While I love living here, I personally don't see any "luxury". I'm guessing they keep that part of TV private. So we can't bank on big money holding us up. AND there are growing concerns for home insurance.

Its a gamble. Like anywhere else.

Housing crashes happen from time to time. Right now the US has the best economy in the world. Funny how there are MORE houses here in The Villages than buyers right now. Yet around the country and probably other parts of Florida there are NOT enough homes being built. That's why most young people are renting.

[OrangeBlossomBaby]

Originally Posted by BPRICE1234

It appears that the used/pre-owned homes cost more than new. I understand that making a house your home takes money.

My question is home appreciation almost guaranteed in TV? We are looking in Denham/Dabney area but really want Eastport when it gets closer to being finished.

Should I take the discounted price and bank on a decent return when I sell in 3 years? I see so many listed and they don't seem to move that fast on the pre-owned.

Personally I'd look for a place where I can live for longer than 3 years, and select my home based on whether I can see myself still living there in 10.

[Normal]

Originally Posted by jimjamuser

Housing crashes happen from time to time. Right now the US has the best economy in the world. Funny how there are MORE houses here in The Villages than buyers right now. Yet around the country and probably other parts of Florida there are NOT enough homes being built. That's why most young people are renting.

Where in Florida? I know Tampa, Orlando, Ft. Lauderdale/Miami are all struggling to move homes. Prices are dropping in all the above markets.

[Randall55]

Originally Posted by Normal

Part of the pinch is 55% of all home purchases in the Villages are financed.

Another part of that pinch is a great volume of new homes are being bought by Villagers. Take a look at the closing boards. Most of the time, buyers from Florida represent 50% or more of the scheduled closings. They are either EXTREMELY wealthy and paying for two (or more) homes is not a concern. Or, investors who still believe the housing market is booming. It is the latter that concerns me. The enormous inventory is most likely caused by failed investors. I have no data to back this up, but a large percentage of the available homes are empty. Others include the "everything you need, just bring a toothbrush" scenario. All the markings of investor owned properties. Most just sitting on MLS and VLS overpriced with no interest from potential buyers.

[margaretmattson]

Originally Posted by Randall55

Another part of that pinch is a great volume of new homes are being bought by Villagers. Take a look at the closing boards. Most of the time, buyers from Florida represent 50% or more of the scheduled closings. They are either EXTREMELY wealthy and paying for two (or more) homes is not a concern. Or, investors who still believe the housing market is booming. It is the latter that concerns me. The enormous inventory is most likely caused by failed investors. I have no data to back this up, but a large percentage of the available homes are empty. Others include the "everything you need, just bring a toothbrush" scenario. All the markings of investor owned properties. Most just sitting on MLS and VLS overpriced with no interest from potential buyers.

Looks like you may be right regarding investors. On VILlAGERSHOMES4RENT there are 8 homes available for rent in Moultrie Creek. Didn't the developer open those for sale a minute ago? Looks like some are wanting to hop on the gravy train. I wish them the best of luck.

One owner is brazen enough to emphasize that you do not need to be 55 to rent and young visitors are welcome.

All are pushing the location between Middleton and Eastport. I hope potential renters understand neither are open because the developer has not completed construction.

The thought of this brings back terrible memories of when I lived on a street with many rental properties. I'm happy we found a home where we do not have this problem.

[BPRICE1234]

Originally Posted by BPRICE1234

It appears that the used/pre-owned homes cost more than new. I understand that making a house your home takes money.

My question is home appreciation almost guaranteed in TV? We are looking in Denham/Dabney area but really want Eastport when it gets closer to being finished.

Should I take the discounted price and bank on a decent return when I sell in 3 years? I see so many listed and they don't seem to move that fast on the pre-owned.

My concern is the distance from Dabney/Denham to basically anything. Only 2 pools and no golf or restaurant. I do like that it should be quiet and hopefully less traffic.

For those that live there or close, how far of a golf cart ride is it to get around? What is your personal distance/time you will use the cart vs a car?

[asianthree]

Originally Posted by Normal

Part of the pinch is 55% of all home purchases in the Villages are financed.

Those who sold prior home, have probably didn’t need a mortgage or much of one. My guess is those who finance like us took out as large as possible mortgage due to higher interest rate. At our financial guys recommendation. Then in a 3 month period paid down mortgage by 3/4. Still gives interest write off, interest amount drops like it was, less than 3% mortgage. With ability that allows money for investment.

You know OPM investing

[asianthree]

Originally Posted by Randall55

Another part of that pinch is a great volume of new homes are being bought by Villagers. Take a look at the closing boards. Most of the time, buyers from Florida represent 50% or more of the scheduled closings. They are either EXTREMELY wealthy and paying for two (or more) homes is not a concern. Or, investors who still believe the housing market is booming. It is the latter that concerns me. The enormous inventory is most likely caused by failed investors. I have no data to back this up, but a large percentage of the available homes are empty. Others include the "everything you need, just bring a toothbrush" scenario. All the markings of investor owned properties. Most just sitting on MLS and VLS overpriced with no interest from potential buyers.

But where from Florida? Our village has about 20% within TV residents. Then surprised at the number from other parts of Florida. The rest are brand new never lived in TV Or Florida.

Many of investment homes in our village have been sold at 1 year, just like it has been in any new village. We have had 3 investment homes in TV, but long term is very different from high season rent. Always had to weed down the list of potential tenants, right up to last year. If home is making money don’t understand why it would be 4sale. Then again in our old neighborhood 8 homes went on the market in 2week period. Death was the case for all homes, with only one downsizing.
Waiting to see how many VLS guys buy in the new Richmond East, instead of those who truly want to live here.