[gfmucci]

I need to work up here most of this year.* BUT- we saw "the perfect TV house" (new) for $20,000 more than we were planning.* This is one of those where I believe pricing was based on technicalities, such as interior lot, not immediately backing onto open space, etc., I don't think it was based on the realities of actual location and resulting view - therefore it is underpriced.

Arguments in favor of waiting:

* The prices might come down further in 6 months.
* There may be others similarly situated with the combination of features we're looking for when we're really ready to buy
* It won't be as much of a financial challenge if we wait
* We would be paying for a vacant house and maintenance for 6-8 months
* We need to stay within budget

Arguments in favor of buying now:

* Nail down a great location and house
* $20,000 more over the course of the next 20 years isn't all that much
* Take several vacations over next several months
* May not get a better house/price in 6 months.
* New house locations will be further from Sumter Landing over the next 6 months

What are your thoughts on this dilemma?

[dalecrenshaw]

Hi...I was a realtor for over 30 years (retired) and my opinion is that it is never possible
to "predict he lowest possible bottom" of the market (the stock market or the real estate market). The market is now lower than it has been in many many years. If the house and the location are great and you have looked at all the other possibilies, and the price seem reasonable for today's market (and you have the comps that suggest that you are getting a good price), then it would seem a reasonable thing to do, if you can carry it and if your house wherever you are coming from is sold. If it is not sold, I would sell your own house first. At the very least, if your house is not sold, put in a "contingency offer" on the sale of your house. In this market, seller's are more willing to take a contingency offer that allows a reaonable time in which to sell your house. If your house doesn't sell within the set period of time that the contract allows, then you will get your deposit back and you will be allowed out of the contract. Hope this helps with your decision. Whatever, it is, I'm sure you will be very "happy" with the decision to move to the Villages....A great place to retire!

[ouma1938]

Does TV take contingency offers? I am a Realtor (hoping to be retired soon) and agree that that is the way to go, under certain circumstances, if possible, but I thought that I read that TV demands the deposit, never refundable, within a short period of time, and there was never any negotiation or delays allowed. Seems crazy to be that way in this economy and market place and maybe they no longer do that. Can anyone give me further details on this?
Thanks
Barbara

[nyclicker]

Business Week has an article that home prices will decline another 25% before it’s maybe over. Come spring when sales in TV are a little slower you might see better deals than now. Potential home buyers who need to sell their existing home first might not be able to and in order for TV to keep up it’s sales pace it’s likely you will see lower prices. I don’t think many of us want to be stuck with 2 homes in this market.

[gfmucci]

Thanks for all of your thoughtful replies

For further clarity...

There is a 98% chance I will continue to work (earn the requisite income) throughout the great majority of this year.

Our "main house" is sold.* We are now renting for a reasonable amount.

We have a condo in North Carolina that is rented for at least 8 more months generating a "break even" income.* We just now placed it on the market.* The real estate market in the Mountains has remained positive, unlike Florida (although it has slowed some from a year ago.)* Based on what we are asking, what we need, and the market, it should sell within 90 days.

The "sales pressure" is all ours - not the TV sales department, although they have their subtle ways.

[Boomer]

That's good.

You sound like you are really on top of things.

These are interesting times.

I wish you all the best on your new adventure.

[villages07]

GF....

If you have truly found the perfect house and perfect location at an acceptable price, and you have crunched the numbers and considered all scenarios....I'd say go for it. But "perfect" has to mean you've looked at a lot of houses and locations and this one is clearly above ALL others you have seen. If it is only marginally above the others, then you can probably wait and there will a comparable "perfect" house in 8 months.

Good luck...it's a tough decision. We bought here before selling up North...and that house is still for sale. Fortunately, it's not a major financial drain and we knew we could handle both. That being said, I wouldn't give up the past 15 months we've spent here for anything....the house, location, and lifestyle are all wonderful. I'm so glad we weren't forced to wait for the other house to sell or I'd still be shivering and shoveling.

[dadspet]

Unclear why this would be a argument in favor or waiting. Many think being close to a square and in a central location like Sumter Landing is a real plus.

"Arguments in favor of waiting:

* New house locations will be further from Sumter Landing over the next 6 months"

-----------------------------------------------------------------------------------------------------------------
A comment on buying or not buying!
We went through these similar decisions for 3 yrs of renting. Bottom line became we loved The Villages and what it had to offer, we found a near perfect house for us at a little more then we wanted to spend but concluded > We aren't going to live forever and these will be our best year to enjoy the live style we wanted live > we bought and couldn't be happier!

Good luck!

[Barefoot]

Biggest Argument in Favour of Buying Now ....

Assuming you are over 55 .... You have no idea how long you will remain well, healthy and able to enjoy the TV lifestyle. Don't automatically expect good health until you're 80!! Until a major illness is experienced, most people have no appreciation for the fragility of health and life.

I say .. live in the now... Buy now and start enjoying life in TV. :bigthumbsup:

[samhass]

Barefoot, you said it best. At a certain age, you never know how many tomorrows you have
left.

[SteveZ]

We had the same dilemma last June. I still have another 15 months until I can completely pull the plug, but the "perfect house, in just the right spot, etc." came available - and what was worse, the price was better than we had expected.

Well, to make a long story short, we bought. Now we find ourselves floating between DC and TV every few weeks, and will continue that practice until formal retirement. The carrying costs had to be considered, but - location, location, location - won out.

Hindsight being 20-20, we are still pleased with the decision. Our neighbors are fantastic, and I can't think of a better place for frequent mini-vacations every other month.

Would my accountant or business advisor have blessed this decision? Not on their balance sheets! But there's more to life than counting the coins, and what good are the coins if they can't bring you peace of mind????

Whatever your choice, it won't be the wrong one....

[Donna]

Originally Posted by barefoot at last

Biggest Argument in Favour of Buying Now ....

Assuming you are over 55 .... You have no idea how long you will remain well, healthy and able to enjoy the TV lifestyle. Don't automatically expect good health until you're 80!! Until a major illness is experienced, most people have no appreciation for the fragility of health and life.

I say .. live in the now... Buy now and start enjoying life in TV. :bigthumbsup:

Barefoot,
Do you think you can call John and repeat those words to him???

[inda50]

If you have cash you can always buy, it might cost a little more down the line. There is no perfect house. There is a stronger likelihood of the housng market going down than up. Rents should remain low, they generally lag behind sales, so my advice is make a decision base on business sense not emotion. A good business decision will feel better than an emotional one. Only my openion. Hope this helps

[gfmucci]

Originally Posted by dadspet

Unclear why this would be a argument in favor or waiting. Many think being close to a square and in a central location like Sumter Landing is a real plus.

"Arguments in favor of waiting:

* New house locations will be further from Sumter Landing over the next 6 months.

dadspet:

You are absolutely right...I misthunk. I fixed this item on my original post.

[Barefoot]

Originally Posted by Donna

Barefoot, Do you think you can call John and repeat those words to him???

OK Donna, will do!

I agree with SteveZ, "what good are coins if they can't bring you peace of mind?" It's not all about money, there is a huge emotional component! Some people have to experience a major health scare (and I was one of them) to realize they may not have endless time ahead to make these decisions and enjoy life. That is why I am so much in favour of people over the age of 55 taking the plunge and buying in TV now. Trust your heart. It's the best decision I've ever made. :bigthumbsup: