I am writing this while I am working at the Visitor Center. I asked Paul Hermann, the director, what the turnover rate was for Sun City. He said that last year it was 2,000 out of 27,000 homes. You do the math and post the percentage:encouragement:
7.4% is a pretty good turn over rate. It gives hope to folks like me that want to buy in the near future.
I do not understand turnover rate. I think most homes are sold because owner either moves back with family, goes into assisted living, or dies. I have rarely heard of someone leaving SC because they did not like living there.
Here's how simple this is: In 2013 there were 7 homes sold or title transferred per day. That is every day of the year, that was the average. We are a senior community. People buy here to live till they die or the kids tell them it's time to move back home to be closer to them. Turn-over is a constant. It's exactly why Sun City has a revenue stream from the Preservation and Improvement Fund (PIF) that allows us to update and upgrade at spectacular levels. And Peg is spot on; it is a rare occasion when someone leaves because they don't like Sun City. BTW, 2014 is slightly ahead of the 2013 pace. Nice.
Both the condo to my right and to my left are for sale. One has a sale pending and the other has someone interested. Selling for around $120s unfurnished. Prices are very definitely going up. So, if you are contemplating buying in SC, strike while the iron is hot, and prices low.
