Home Inventory Hits An All-Time High In The Villages

[@gilborealty]

Hello everyone! I hope your holiday is rockin and you enjoy your time off with family! Home inventory passed 550 homes on the market as it continues to increase during slow sales season. To be honest, I expected it to drop due to the holiday season, but I guess i was wrong. Give us your thoughts, like and subscribe when you get a chance!

[@jimoconnor8131]

Honest, insightful and data driven. I’m a ‘“northerner” interested in purchasing, but will not be on the market until Q3 2025. I can’t think of a reason not to purchase through you. Thank you for your videos, please keep them coming. Looking forward to working with you in a few months. Until then I am subscribed and will continue watching.

[@PianoMatronNeeNee]

Great video ❤Thank you 👍👍👍👍

[@dewholdingsllc1050]

1. Sellers want out of villages and FL, taxes, insurance, etc; 2. Sellers Christmas wishing for a buyer; 3. Sellers thinking the inflated price they purchased at 2-3 years ago & wishing for that amount. Any estimate of TV inventory on top of mls? 6:51

[@brianmadigan3052]

Thank you very much for recognizing those power poles or should I say power tower’s they are huge and yes long term exposure is definitely concerning.We have been to the Villagers three times for research and seeing these in person right next to the home not good.These power towers usually run parallel to turnpikes and homes should not be that close and one home we saw had two of these and new home yes but price was over 500k with 40 k bond.During the 3-4 percent mortgages a few years back seem like inventory was around 200 homes or less.

[@AndiS-dz4pq]

Merry Christmas and Happy Holidays everyone.

[@AlanWJohnson]

Excellent and insightful video as usual. As a long time real estate professional, now in South Florida, who has been through these cycles many times over several decades I have one overall comment as well as some questions to which I’m interested to hear your opinion. First, the talking heads continue to beat the “Low Inventory” drum and I’m simply not seeing that, especially here in South Florida. As for the rapid and record setting increase in your inventory there in TV, in my professional opinion, there are a few major factors, and I’m interested to see if you agree with me. First, since COVID home prices in many areas of the country but especially here in Florida have skyrocketed almost in a straight line, which in my opinion, whether stocks or real estate is difficult to maintain long term. Secondly, many homes were purchased during this high-priced time frame and now those sellers have a difficult decision as to whether they hang on in hopes of breaking even or swallowing the pill and taking a loss. Lastly, The Villages, much like many builders, is in the business of building and selling homes, and have the leverage and deep pockets to do what’s necessary to accomplish that objective, including cutting their prices. From what I’m seeing The Villages is often offering brand new homes for less than a similar home sold for a few years ago which leaves the resale seller behind the 8-ball when it comes to pricing their home. I’m seeing the same thing here in my area where builders are making some amazing offers with discounts in excess of $100K on some homes. Your thoughts? I hope your Christmas was magnificent and wish the very best for you in 2025!

[@gilborealty]

First: I agree there is no low inventory in the market. Inventory is above or at pre covid levels. Those communities with lower inventory don’t have a huge amount of buyers looking to buy in those areas anyways. Wallstreet just has their talking heads like Redfin and Zillow out there telling everyone fake news because they have a ton of $$ in SF housing and if the RE market takes a bigger correction, they will be screwed. Never trust wallstreet backed companies. When Warren Buffet sells, it’s a telling sign.

[@gilborealty]

Builders will build until they can’t. In 08 they left neighborhoods 1/2 completed and filed BK. They are doing the same thing today, just a little smarter. The Villages is a little different because they have marketed their community pretty well to the entire US. You have people from all over looking to retire there, which allows them to keep building. I’ve been saying for a while that when the northern states start slowing, which they are, the South’s inventory will increase rapidly over night. We are seeing that now IMO. The north is different from Florida. We don’t get too many calls from out of state buyers asking us to find them a home. It’s mostly in state residents looking to upgrade or move to another area. The South is exactly the opposite. All out of state buyers, very few in state in The Villages. We’ve had a few but 98% out of state. The Villages at some point will stop building or cut way back on the #. It doesn’t make sense to have new homes sitting around waiting for a buyer. Plus, more people = higher costs and taxes. At what point do you say enough and let the communities heal a bit and become accustomed to the growth?

[@gilborealty]

As for sellers, the ramp up in inventory has a lot to do with boomer generation stubbornness. They bought into this Covid craziness, realized they can’t make that much $$ renting it, hate being landlords, spent a bunch of money maintaining it and now want the moon for a sales price. Some made out but most missed the window of opportunity. It’s a hive mentality right now with sellers and no one wants to budge unless they are truly motivated. Because of this, inventory will continue to increase over time and lower the prices on their homes while the builders laugh and undercut them down the road. Most Buyers will just wait it out until sellers cave. We will see more sales but that’s only due to higher inventory, not because the market is getting better, as the talking heads claim it to be.

[@AlanWJohnson]

@ Thanks Sir! Excellent overview.

[@AlanWJohnson]

@@gilborealty If you’re in SW FL sometime or when I’m in your area we should grab coffee or lunch. We certainly think along similar lines and I, like you, have been in the trenches and through these cycles multiple times. When our paths cross be certain to ask me about the advice I gave to a good friend who was in a panic regarding the coming and devastating recession of 2021! It’s telling and hilarious all at the same time. Have a magnificent 2025!

[@bgent5]

Have you ever discussed the issue of sinkholes?

[@ziggy33399]

@@bgent5 as I understand it, this only occurs in certain places in Florida. Not The Villages …. At least not that I’ve heard of…have lived in Florida since 1984 (Sw part on the Gulf )

[@DisMindy5767]

The village of Calumet Grove has had 10 sink hole in 10 years according to what I read from a resident of that village. A home there has recently been condemned because of sink hole damage caused by the pond behind it. However, they're not as common in other villages. Many times, and I believe in this case, the plumbing on the ponds, that moves water from one pond to another can develop a leak and cause the dirt around it to collapse. That's what my research showed.

[@DisMindy5767]

The house in Hawkins is a Linden model. One of my favorite. But I don't like that lot at all. Swamp view. And it's way too grey for my taste. Too bad that they bought at the height of the market. Since it's not been lived in, I'm wondering how the concrete pad next to the lanai for stained. 🤔

[@a.e.7988]

55+ communities in Las Vegas start at 650k and there is not enough inventory, so there you go!

[@markedwards5512]

The preserve view house on Hawkins was new at $680k and the taxes are over 9k. One drawback is that Hawkins is the only road into that area...lots of drive-by traffic.

[@frankkeel8410]

Rent is the only route if u can afford the rent. Where are the rents at now? Price etc

[@Thom3748]

You should do a segment on why so many people are trying to leave The Villages. Has any surveys been done to determine dissatisfaction with the developer snd environs.

[@ElizaLou75]

@@Thom3748 I have theories: 1 - definitely increased costs like insurance 2 - Older residents leaving to move in with or closer to family, assisted living or nursing homes 3 - HOAs becoming increasingly unpopular 4 - Maybe it's getting too big and crowded for some.

[@a.e.7988]

Hurricanes!!! Sinkholes and extreme heat, overpriced for FL.

[@billdillon3886]

No bail outs for developers.

[@jeffrey5238]

553 i am going to play it

[@davemcdowell4563]

Mark WHAT DO YOU THINK OF Harbor Hills God Bless

[@gilborealty]

@@davemcdowell4563 looks nice. It’s my visit list come early next year. Looks well maintained.

[@RobertSmith-bg9zc]

Don't ever buy where there are a ton of houses not selling

[@a.e.7988]

Unless it's super cheap!

[@bmf00]

Inventory isn't going up in Massachusetts.

[@gilborealty]

It’ll drop this time of year in the north. Mass has been tough though.

[@PianoMatronNeeNee]

Maybe people who moved to Florida from Massachusetts during the Coronavirus a years ago are moving back buying up the houses.

[@barbaraebner5889]

Your best guess as how long this will last?

[@RobertSmith-bg9zc]

These villages houses are way overpriced

[@markedwards5512]

True. There are like homes outside the bubble at 20% less, but don't have the golf cart lifestyle and amenities and clubs.

[@jbhatts610]

😂😂😂 these 2-3br homes are 1200-1400 sq ft?? 350k??? Nah - good luck with those sales

[@anthonywitkowski8695]

Why would a retired couple need more sq feet?

[@Patrick-yh5yd]

Maybe there is Climate Change. Look how warm this winter. More hurricanes? Where is the best place in America to live?

[@a.e.7988]

No thanks, over 1.5 hours from an airport 😮

[@gilborealty]

@@a.e.7988 it’s about 55 minutes to Orlando. Not too bad.

[@Gamesso1slOo0l]

there is nothing special about these cookie cutter houses, they are sweat boxes, dont see the draw at all

[@anthonywitkowski8695]

@@Gamesso1slOo0l then stay where you are... never understand why you people bother to leave a comment like this