[wavylines]

Not sure where to post this question but I live in Florida...Moderator pls. let me know. Thx.

I live in a gated 55+ community in Citrus County/Central Florida. My house is for sale. Built in 2022. The real estate market is very slow now. We have listed the home with two different real estate brokers. No sale. Our current broker is very experienced but so far there have been few showings and no offers. We have dropped the price so the home is an excellent value for new construction.

Having bought and sold homes before I know that the high interest rates, inflation etc. is not helping. Central Florida is a good location because we have avoided the bad hurricanes and homeowners' insurance is available here.

Any thoughts or insight would be helpful. Anyone else going through the same thing?

Thanks.

[FL_Expert]

Not currently selling, but high mortgage rates are clearly hurting the property market. Being in a 55+ community limits your pool of buyers too.

[wavylines]

Thanks for your reply.

[Wile E. Coyote]

The house next door was purchased in 2016 for $315k and the guy rented it all this time until he put it up for sale for $589k six weeks ago. I have never seen a house in this development sit on the market so long. The prior renters lived there for 4 years and had rented it for $1,900. It might rent closer to $2,300 if he rented it today (maybe more). If someone finances it their payments are $3,900. So, do you see the discrepancy between $1,900 and $3,900???

[wavylines]

Yes. Thank you for your reply.

[Zenstyle]

Oh, my…O.P., why are you selling a brand-new house?

[wavylines]

Thank you for responding.

[Tulippsy]

The market is definitely slowing in the 55+ manufactured home market. We bought last year and there were only four homes for sale in my community and they sold very quickly. We basically bought ours long distance to not lose out. The realtor held it for me until I could fly down but there were two backup offers. Now there are over 20 homes for sale and they’re sitting. Just be patient. When the snowbirds come back you’ll have a better chance.

[beach43ofus]

Very few potential buyers in the Summer time in FLA. Why did you list in the off-season?

You have bad timing, and should not have listed in the Summer time.

You will likely sell in November when the potential buyers return...don't panic.

[wavylines]

I listed the home twice. Last year began the slowdown in sales and the house did not sell. We switched agents. It took time to interview and find a new one. In our location seasonal people begin coming back in September. Thanks again for answering my post -- it is appreciated.