Sold homes are telling a different story than most stats.... I have REAL examples of where price per sqft is falling on existing inventory. Give us your thoughts, like and subscribe if you get a chance. Peace!! 😀
Great video. I’ve been saying this for a while. I think $200 sqft or less will become the new normal if people want to sell. Going to be a lot of investors selling at a loss.
Correct. The five year population groups between 40 and 60 are less than the group 60 to 65. The current 60-65 group is the largest for the next 20 years. The group of people in the 45-50 age range is over 3 million less. Also many of these people have less buying power than the current group of seniors. Prices will fall or these places will sit empty as people die. My parents when they were alive lived in a large adult community in Florida and 2-3 people died a week there.
I'm on the edge of retirement and considering a visit to check out the Villages. I am also watching real estate around the world. Based on what I see and experience in 1990 and 2009. I could see prices closer to $100 / sq ft possibly under if the market correction hits the pension system which looks quite possible and the banks are also in trouble so they may be giving places away everywhere. If you think this is crazy watch a video on China down 70%, Venezuela you can get a house for 100 ounces of silver. My older friends retired around 2007 and three of them bought $200,000 (2005 price) condos in Florida for $40,000 after the GFC.
As you probably know, you gotta be careful comparing dissimilar home by price per square foot. A block and stucco home with more expensive finishes and features compared to a basic patio villa with entry level cabinets, older appliances and Formica. Price per square foot also doesn't tell the whole story in homes over 750k. Location and view are a very large component of price in T.V.
Are you talking about conditioned space per sq. ft.? I think around 200/ sq ft is a fair price in general. Of course a lot of people paid too much recently. I think a house should be viewed as an asset more than an investment. Live in it, enjoy it, but don't obsess too much about the price you'll get when you sell it. If you don't move around a lot you'll be fine in the long run. Just my opinion.
Hi, we’re planning on moving to the villages in the next year or so. We’re interested in a villa in the more established mid north to northern section. We would like to buy prior to selling our current home and possibly renting in the meantime just to cover the monthly costs. There seems to be very little information or discussion on line about these villas? Why? What are those prices doing etc?
The largest group of people over 40 is the group around 60. There are going to be less seniors to buy these homes for next 20 years so prices will drop or they will sit empty.
May 2022 was peak market price and value for ACL, been trending downward since. 20-21% down since the peak. Housing market are extremely local. My target markets are still inflated even though they are down from their peak.
I think prices are going down everywhere in the next few years, but if it's your forever home and prices fall after you close, you should see lower taxes/insurance. It's not as bad as a decline in the price of the house you plan on selling before moving to your retirement home.
Those prices are much lower than my city limits, (pandemic inflated prices) but I think your prices are still inflated following the local data for FL sub markets. New construction increases in inventory and incentives from builders should put pressure on the sellers of resales. Do you keep track of the VLS data?
Villages Realtors and Sellers will spend all day telling you how the laws of physics and economics work differently in The Villages of course this is not true at all in fact what goes up the most goes down the most so expect the Bubble to burst even in The Villages.
@@douglasstone3813 But did it last time? I mean, I'm sure property lost value there just like it did in the rest of Florida and around the rest of the US, but I'm curious how TV did compared to the surrounding counties, the state as a whole, the Southeast as a whole, and the US overall.
After 2008 homes in Florida and The Villages lost 40% of there value, multifamily lost 50% and condos lost 60%. Homes in TV's are 38% above the rolling average this is unsustainable. @@dibari22
My uncle moved to the villages right before 07 and his home last almost 1/2 its value. Luckily he paid cash and wasn't upside down. Its hard to find data that far back because a lot of it was scrubbed or hidden over time. My MLS data ends at 2011.
Sold homes are telling a different story than most stats.... I have REAL examples of where price per sqft is falling on existing inventory. Give us your thoughts, like and subscribe if you get a chance. Peace!! 😀
Will this be nationwide? Any info for empty land?
Great video. I’ve been saying this for a while. I think $200 sqft or less will become the new normal if people want to sell. Going to be a lot of investors selling at a loss.
Price per square foot is heading down for those that stay informed. Great video!
Correct. The five year population groups between 40 and 60 are less than the group 60 to 65. The current 60-65 group is the largest for the next 20 years. The group of people in the 45-50 age range is over 3 million less. Also many of these people have less buying power than the current group of seniors. Prices will fall or these places will sit empty as people die. My parents when they were alive lived in a large adult community in Florida and 2-3 people died a week there.
I'm on the edge of retirement and considering a visit to check out the Villages. I am also watching real estate around the world. Based on what I see and experience in 1990 and 2009. I could see prices closer to $100 / sq ft possibly under if the market correction hits the pension system which looks quite possible and the banks are also in trouble so they may be giving places away everywhere. If you think this is crazy watch a video on China down 70%, Venezuela you can get a house for 100 ounces of silver. My older friends retired around 2007 and three of them bought $200,000 (2005 price) condos in Florida for $40,000 after the GFC.
16:27 $265K for a 1000 sq ft mobile home??? rent for $4k??? seriously??
Wanting to move there this summer …thanks so much for the info !
As you probably know, you gotta be careful comparing dissimilar home by price per square foot. A block and stucco home with more expensive finishes and features compared to a basic patio villa with entry level cabinets, older appliances and Formica. Price per square foot also doesn't tell the whole story in homes over 750k. Location and view are a very large component of price in T.V.
Absolutely. This is just a wide example of homes only. If I wanted to price out a home, similarity and location would be the way to go. Well put.
There are so many new builds in Florida and it's also pressuring prices. Waterfront has some resiliency.
Are you talking about conditioned space per sq. ft.? I think around 200/ sq ft is a fair price in general. Of course a lot of people paid too much recently. I think a house should be viewed as an asset more than an investment. Live in it, enjoy it, but don't obsess too much about the price you'll get when you sell it. If you don't move around a lot you'll be fine in the long run. Just my opinion.
Florida wages are low always has been always will be
Should be 80 to 120 sqft tops
But local buyers are competing with more wealthy buyers from the north.
Hi, we’re planning on moving to the villages in the next year or so. We’re interested in a villa in the more established mid north to northern section. We would like to buy prior to selling our current home and possibly renting in the meantime just to cover the monthly costs. There seems to be very little information or discussion on line about these villas? Why? What are those prices doing etc?
The largest group of people over 40 is the group around 60. There are going to be less seniors to buy these homes for next 20 years so prices will drop or they will sit empty.
Great tip Mark, Tks
You are not mentioning whether these homes still have a Bond to be paid or Not.
May 2022 was peak market price and value for ACL, been trending downward since. 20-21% down since the peak. Housing market are extremely local. My target markets are still inflated even though they are down from their peak.
I think prices are going down everywhere in the next few years, but if it's your forever home and prices fall after you close, you should see lower taxes/insurance. It's not as bad as a decline in the price of the house you plan on selling before moving to your retirement home.
Yeah. Pricing going down ❤
Those prices are much lower than my city limits, (pandemic inflated prices) but I think your prices are still inflated following the local data for FL sub markets. New construction increases in inventory and incentives from builders should put pressure on the sellers of resales.
Do you keep track of the VLS data?
I believe house number 7 sold for 288 per square foot. Had a fence
How did the Villages fare in 2008-2015 (relative to the rest o Florida/US)? Some places seemed to be a little more insulated than others.
Villages Realtors and Sellers will spend all day telling you how the laws of physics and economics work differently in The Villages of course this is not true at all in fact what goes up the most goes down the most so expect the Bubble to burst even in The Villages.
@@douglasstone3813 But did it last time? I mean, I'm sure property lost value there just like it did in the rest of Florida and around the rest of the US, but I'm curious how TV did compared to the surrounding counties, the state as a whole, the Southeast as a whole, and the US overall.
After 2008 homes in Florida and The Villages lost 40% of there value, multifamily lost 50% and condos lost 60%. Homes in TV's are 38% above the rolling average this is unsustainable. @@dibari22
My uncle moved to the villages right before 07 and his home last almost 1/2 its value. Luckily he paid cash and wasn't upside down. Its hard to find data that far back because a lot of it was scrubbed or hidden over time. My MLS data ends at 2011.
@@gilborealty appreciate the info, thank you
Good 👍 news I pay 200 share ft on 2400 ft house custom home 🏡 👌
I don't see a lot homes in your examples with fences. Maybe they are more desirable
Fences are harder to find. Really limited by area.