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Old 01-25-2020, 09:30 AM
 
Location: Sun City West, Arizona
50,809 posts, read 24,321,239 times
Reputation: 32940

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Quote:
Originally Posted by MN-Born-n-Raised View Post
I shouldn't have used the word "extremely" and just said it was common for people to move. My post parroted real estate agents in various 55+ communities across the Valley. Currently in SCG, for instance, they have close to 100 homes for sale as we speak in an era where inventory is tight. Even if one of the homeowners is ill, I propose they better darn well think of resale value. Because good nursing homes are expensive. Plus people are living longer than ever before.

When I was looking in Victory at Verrado this past Spring at a time when the market was slowing some, I came across several resales. Not one of them was going to break even after selling expenses and putting in the normal items like a backyard, window treatments, etc.

I suspect we are both taking an educated guess as to what people think. My bias that I am applying my view on life. I'm always going to worry about resale as my wives gene pool lives till their early hundreds while mine peters out around 75-80 years old. I'm guessing you assume people think like you. If you are right and people don't care about the 55+ resale value, I propose they should. We agree that on average, they probably care less versus what you said that they don't care.
Let's keep in mind why so many houses are for sale in our communities (I am in Sun City West). People dying off.
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Old 01-25-2020, 09:55 AM
 
9,741 posts, read 11,163,289 times
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Quote:
Originally Posted by phetaroi View Post
Let's keep in mind why so many houses are for sale in our communities (I am in Sun City West). People dying off.
And I addressed it on my post. One size doesn't fit all. I suspect a community like Victory, the folks are 15+ years younger than Sun City West.
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Old 01-25-2020, 10:10 AM
 
9,741 posts, read 11,163,289 times
Reputation: 8482
Quote:
Originally Posted by wase4711 View Post
I am certain that everyone who has a nice home at 50,60, or 70 wants to do as much to it as possible to make it better for THEM FIRST, Resale second..We aren't spring chickens either, but we have put almost 6 figures into upgrading/remodeling/adding on to our house here in the last 30 months we've lived here, and, we will continue to do so...we love where we live, and still feel like we are on vacation every day of the week..

For us, at least, its not about resale, its about enjoying life now and in what ever future we have left...my family, aside from myself, aren't big water people, so a pool was a no biggie for us; but, if the house we bought had one, we would have enjoyed it either way.

Sure its nice our house has appreciated about 25% since we bought it, but, we are doing all the work on it for us, and maybe our son, when we leave this earth...Resale value does NOT come into play in our minds, but everyone is different
Forgetting how old someone is currently, I think you described nearly every home buyer. Resale value is arguably never the #1 reason (nor should it be). My post only said it should be important to people and in the back of their mind. It could be reason #2 through #10. I read thinkalot's post to mean it isn't important to people who are 55+. Well, it sure is important to the Op and myself (55+). After all, she asked about it.

Resale is not my driving force either. At the same token, I realize my home is on the upper end of our neighborhood. So anything I do to our home from here on out is mostly a donation. I'd MUCH rather be in a place where I don't have to think about that. So if I carefully put in $100K, I can get, say, $75K out. Currently, if I put in $100K more, I'm going to get $25k out. That's bad math. Obviously you aren't putting in $100K to get back $25K. Hence, you too are considering resale. That was my only point.
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Old 01-25-2020, 10:13 AM
 
192 posts, read 133,762 times
Reputation: 385
I agree with what many have said on here. Even if I never used my pool again, I wouldn’t buy a house without at least some kind of water feature. Having the water is such a nice oasis in the desert. It is calming and I love sitting outside near it. When the kids come to visit, I can heat it up rather quickly for them to enjoy. While we are not in an over 55 community, we do have a community pool. I have never used it in all the years I have been here. It is much more of a production to go there than just walking out the back door (and too many rules!) though it’s still on my list of things to try,— the bonus is they do keep it heated all winter. I think putting one in would be a big decision because of the cost, so we only looked at homes with one already installed because it is a better value.
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Old 01-25-2020, 11:21 AM
 
2,773 posts, read 5,726,320 times
Reputation: 5089
Quote:
Originally Posted by MN-Born-n-Raised View Post
I shouldn't have used the word "extremely" and just said it was common for people to move. My post parroted real estate agents in various 55+ communities across the Valley. Currently in SCG, for instance, they have close to 100 homes for sale as we speak in an era where inventory is tight. Even if one of the homeowners is ill, I propose they better darn well think of resale value. Because good nursing homes are expensive. Plus people are living longer than ever before.

When I was looking in Victory at Verrado this past Spring at a time when the market was slowing some, I came across several resales. Not one of them was going to break even after selling expenses and putting in the normal items like a backyard, window treatments, etc.

I suspect we are both taking an educated guess as to what people think. My bias that I am applying my view on life. I'm always going to worry about resale as my wives gene pool lives till their early hundreds while mine peters out around 75-80 years old. I'm guessing you assume people think like you. If you are right and people don't care about the 55+ resale value, I propose they should. We agree that on average, they probably care less versus what you said that they don't care.

100 out of 9000 doesn't seem like a lot to me. Especially at this time of the year.
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Old 01-25-2020, 12:02 PM
 
9,741 posts, read 11,163,289 times
Reputation: 8482
Quote:
Originally Posted by Burning Madolf View Post
100 out of 9000 doesn't seem like a lot to me. Especially at this time of the year.
They resold 275 in the past last 6 months. That was mostly in the slow season. To me, around 7% of the home stock flipping annually is a lot of re-sales. See https://www.realtor.com/soldhomepric...rprise_AZ/pg-7 shows is the last 6 months' worth of sales.

Last edited by MN-Born-n-Raised; 01-25-2020 at 12:11 PM..
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Old 01-25-2020, 02:05 PM
 
1,213 posts, read 3,112,364 times
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I have relatives currently looking to buy in SCW. I've looked at a lot of houses with them in the last 3-4 months. It seems like probably 2/3 of the homes on the market there are grossly overpriced, and even after they sit on the market for months, the owners don't reduce the asking prices. Many were bought in 2014-2018 and the owners seem to be trying to sell for a big profit and won't take less than they feel they are worth. Meanwhile, the 1/3 that are priced realistically tend to sell very quickly especially if upgraded/modern looking inside.

They made a 300k cash offer on one that had been listed for 330k by a flipper and had sat for 4 months, the offer was rejected with no counter. It's still on the market. Even the comps barely supported the 300k offer (probably should have been more like 290k) but they really liked the inside.
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Old 01-25-2020, 02:12 PM
 
6,632 posts, read 4,302,964 times
Reputation: 7087
Quote:
Originally Posted by fluffythewondercat View Post
Will you use it? Only you can answer that.

As another commenter has mentioned, though, a sparkling body of water in your backyard is calming, especially during the hot summers. There's something about gazing at water. It lowers stress and anxiety, increasing an overall sense of well-being and happiness, a lower heart and breathing rate, and safe, better workouts.

I have a pool. I think we used it five times last year in the morning during the summer months. Very refreshing. I won't use a community pool. Two reasons: Communicable diseases and at SCG, children under 16 are allowed to use the pools, albeit with some restrictions. No thanks.

https://www.thrillist.com/health/nat...swimming-pools

I pay $140 a month for pool service but as my soon-to-be-ex pointed out, they don't do anything that we couldn't do ourselves if we wanted to.
I had no idea you could catch a communicable disease from a public pool, if the pool is properly maintained with chemicals.
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Old 01-25-2020, 03:41 PM
 
2,773 posts, read 5,726,320 times
Reputation: 5089
Quote:
Originally Posted by MN-Born-n-Raised View Post
They resold 275 in the past last 6 months. That was mostly in the slow season. To me, around 7% of the home stock flipping annually is a lot of re-sales. See https://www.realtor.com/soldhomepric...rprise_AZ/pg-7 shows is the last 6 months' worth of sales.

I was just saying 100 out of 9k wasn't much.

7% might be a lot, but when you consider the current massive inflow of out of staters (the Boomers are coming!!!) combined with the down (out?) sizing of long term oldies (both of my next door neighbors and the guy across the street all 80 yrs old or so, have sold to CA, WA, and WI migrants).
They are pushing prices and houses in all prices are moving pretty quickly. It's a little unsettling (but nice on paper).
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Old 02-28-2020, 08:07 PM
 
43 posts, read 29,612 times
Reputation: 60
Quote:
Originally Posted by MN-Born-n-Raised View Post
I wondered what you said was accurate (that they were uncommon). So I looked on google maps and did a quick random sample. Under 15% of the SCG owners have a pool. It is probably under 10% but the homes on the course raise the percentage. I would have guessed a much higher percentage. My perception was skewed because I have been looking at models and they normally have pools. See a sample of SCG https://www.google.com/maps/place/Su...4d-112.4044559
Mn, that was very kind of you to look up the SCG pool percentages. We’re going to move in and see what makes sense. I’m a swimmer. I know a back yard pool would still mean I’ll be doing laps in the SCG pools. I agree, pools like aesthetically pleasing. I also think it would be nice to jump into one whenever the desire hits.
I’ll have to wait the BBQ set up till I decide, in case the layout interferes.
I appreciate your homework.
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