Ocala Real Estate & Horse Farms

The Paul Truesdell Podcast

Ocala Real Estate & Horse Farms
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Summary

Drudge, Cape Coral Real Estate, Ocala Metro Real Estate, Creeks and Stones, Hwy 200 Two Lane Road, DR Horton, The Villages, Sumter County 466, Marion County 475, Spanish Springs, Leesburg, Lady Lake, Wildwood, Clermont, Boomer Retirees Phase Two, Golf Cart, Amenities, Community Facility, Rule of 72, Rule of 144, Builder Incentives, New Homes, Corporate Ownership of Single Family Homes, Beach Community Insurance, Property Casualty Rates, Buying Down Interest Rate, Local Builders Pushed Out, Village News, Snowbirds, Rural Living, Farms, Trucks, TMZ, Yankeetown, Inglis, Crystal River, Brownwood, Sumter Landing, Billionaires in Marion County, Sheriff Billy Woods, HorseFarmsForever.com, Horse Farms For Ever, Development, Carter's Liver Pills, Carter's Peanuts, Jimmy Carter, Retiree Inflation, First Ten Years of Retirement, Inflation, $100,000 today 19 years later $33,000, Minimum Wage California $20 per Hour, Florida Minimum Wage, $15 Minimum Wage, President Biden, Between Now and the Election, County Commissioners as Realtors, China Unemployment, China Crime, China Flooding, Russia Flooding, Stupid News Headlines, Click Bait,

Unedited Transcription:

SPEAKERS
Paul Grant Truesdell, J.D., AIF, Paul Truesdell, II

Paul Grant Truesdell, J.D., AIF 00:00
It is rather amazing how, a few months, six months at the most, has dramatically changed the housing market here in the Ocala metropolitan area. Yeah, the

Paul Truesdell, II 00:11
number of sales and the pricing and everything is, I would say it's down a little bit, but it's not as tremendous as some other places in the state. Just discussing this interesting article about how places like I believe Cape Coral. article said that year over year, the prices are up 51%. And people are shocked that sales are down some dramatic number and it's taking what is it a 31 more days to sell a house than last year? Oh, and prices are up 51% I'm honestly surprised. That's all it is. I anybody that has a little bit of patience, can see that one. That bubble bursting in a very short amount of time.

Paul Grant Truesdell, J.D., AIF 00:56
Sunday, we had lunch with a couple who had been clients of ours for quite a while. Wonderful human beings. They I'm sure are listening and will say hi to them. Hello, hello. But one of the things I said to them, I said do not go to drudge. Drudge is a godforsaken horrible place to get news. On the other hand, it is an aggregator. The problem is the damn headlines. Oh,

Paul Truesdell, II 01:22
yeah. Yeah. Well, that's that's the Drudge away. Right? You you rewrite the headlines to get people to click? Yeah, clickbait and scale coming back. So, but yeah, it's it's interesting, the home prices in general, like, what is it? I don't know, the current lending rates are, but they are have not come down because, obviously, consequences of the market in the economy continuing to be quite robust. And they can't quite beat inflation. So we're kind of in this like quasi people who are once again talking about stagflation. I don't think it's that severe, considering we're still in single digit, interest rate, low single digit interest rate, and an inflation environment. But so let's call it let's call it baby stagflation. Maybe, maybe that's a word. I'm

Paul Grant Truesdell, J.D., AIF 02:14
not sure what is going to be called it. What I do know is that many years ago, when a couple of retirement communities in the Ocala metropolitan area, all over the creeks, Stone Creek, book Creek, little known Creek, there's all the creeks around hurricane crest stones and creeks and and

Paul Truesdell, II 02:35
oaks and oaks. That pretty much covers all the communities if you are willing to add or subtract a word or if

Paul Grant Truesdell, J.D., AIF 02:44
you're a developer of homes that you've please pick a different name from, from the word Stone Creek and whatever. Oak just Paulette Flintstone anyhow. Well, the

Paul Truesdell, II 02:55
big the big developers seem to pick more logical names these days. But yeah, we do have a plentiful number of stones and oaks and creeks.

Paul Grant Truesdell, J.D., AIF 03:06
Well, I don't have the actual statistics in front of me, I'm not going to get them but I believe the new home builders are doing very well in selling homes as opposed to existing homes. Now, one of the things I can tell you is that communities where there are not sidewalks, I think those communities have a harder time selling

Paul Truesdell, II 03:28
certainly, yeah. Especially since all of the newer not all, but the vast majority of the newer communities. Developments do. So, you know, it's just it's one of these things that I think a lot of people, especially people that are moving from, let's call it more metro area. Yeah. They're used to they're used to taking the dog out for a walk on the sidewalk and that sort of thing. Obviously, just because you'll have a sidewalk doesn't mean you can't go out and walk. But that's just something that people look for.

Paul Grant Truesdell, J.D., AIF 03:57
Absolutely. And in one of our communities. You know, we have sidewalks on one side of the street. I don't know if that's a growing trend, but probably is.

Paul Truesdell, II 04:08
It's a cost cutting measure. Only I can only go on one side of the street.

Paul Grant Truesdell, J.D., AIF 04:15
That always makes me my eyebrows rise, purse, my lips nod my head in disgust. Anyhow, I think the other thing is the boomer retiree, the second phase Boomer is definitely looking for more amenities. Absolutely. Yeah. Yeah. So that you want your golf cart, you want to be able to go to the recreation center, but I think their thing is you definitely want to have a community facility large enough to accommodate things. Absolutely.

Paul Truesdell, II 04:44
Yeah. It's interesting. Some of the comments in this article are actually quite good. They're kind of obvious if you think about it for a bit but one of them is that these home builders are doing are moving properties, and individual home sellers can't really compete. Because of the incentives that they can provide as far as financing, and other other perks, you know, free appliances and discounts and all these various things, because, you know, the reality is they're like anybody else if they have too much supply sitting on the market that prevents them from being able to continue to move forward. So it's just, it's a momentum game in a lot of cases. And it's funny, as you know, they're they're doing things like we talked about this a few months ago. They'll do you know, interest rate cut specials and things like this. And all they're really doing, you figured it out. They're, they're, they're buying down the rate. So you pay a little bit more for the price for the house. And they're giving a chunk of cash to the lender to get you a lower rate. So it's it's a very interesting kind of thing. I had no idea that sort of thing was even being done, but it makes a lot of sense.

Paul Grant Truesdell, J.D., AIF 05:53
Well, years ago, back off 40 years ago, 30 years ago in Marion County, Florida, which is the county in which the city of Ocala Russ city of Ocala is the county seat. You didn't have any out of state and national builders. You just...