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Ocala Real Estate Activity - November 2, 2009

Nancy Deichman, GRI, CRS, SRES, CDPE — Wed, 04 Nov 2009 15:53:00 GMT

The latest sales activity shows that although the Ocala real estate activity has increased substantially since the same time in 2008, the prices of homes selling is down and not surprisingly, the number of foreclosures selling has drastically increased.

In through October of 2008, the number of homes sold is 2279. The number of homes sold through October of 2009 is 2739, an increase of 460 homes sold. However, last year only 661 of the homes sold in the Ocala/Marion County MLS system were under $100,000. This year, the number of homes sold under $100,000 increased to 1313 homes. That's an increase of almost 100% in the number of homes sold below $100,000.

The first time buyer activity and the $8000 first time buyer home credit is partially responsible, but another reason is the increase in the number of foreclosures sold this year vs. last year.

Last year, only 239 of the homes sold through the first 10 months were either bank owned or corporate owned, slightly over 10% of the overall number. This year, the foreclosure or bank owned homes sold number increased to 678 homes sold and closed so far this year in Ocala/Marion County. The statistics show that the number of foreclosures sold has increased to almost 25% of the sold activity.

These statistics do not show the other distressed properties sold known as short sales, or pre foreclosures. The number of distressed properties selling is definitely increasing in the Ocala real estate market, which is a surprise to almost no one who lives here. We all watched the Ocala real estate boom take place with all the new homes getting built on scattered lots all over Marion County.

We just didn't know that it would end so abruptly. We do still have many homes selling that are not short sales and foreclosures, they just have the competition in pricing to contend with on the bank owned homes in order to get their properties sold.

If you would like to receive a list of the new foreclosures each morning by email, just contact me at www.findocalahomes.com and I will be happy to put you on our automatic email list.

If you would like to find out what your home is worth in today's market, just call me at 352-351-5429 or on my cell at 352-427-5704.

If you need help with getting your home sold and you think you owe more than it worth in today's real estate market, just contact me or go to www.stopocalaforeclosures.com There is a wealth of information there to help you decide which road to take and a glossary of terms and definitions to assist you in understanding your options.

We are here to help.

2009 may go down in history as the best year to buy an affordable home in history.

Nancy Deichman, GRI, CRS, SRES, CDPE — Sat, 07 Feb 2009 21:24:00 GMT

Have you ever heard the phrase "Timing is everything"?

There are so many factors that are helping.

The first factor is the number of homes that are being sold as short sales. The short sale is like finding the perfect outfit on the clearance rack without knowing what the price will be. You have to wait a little longer to find out, but when you make the offer and get the accepted price back from the manager, (seller's lender), it a price too good to pass up.
The programs that are out there are fantastic. The USDA loan that so many buyers qualify for helps get a buyer in a home for absolutely no money down from the buyer. If the Realtor writes the contract correctly, the buyer can get all the closing costs paid by the seller including their first year's insurance on the home. This is a real no money down deal. Not like the ones on the info-mercials. This is a mainstream loan.
The interest rates are in the low 5's on these loans. What that means to the buyer is that many times the payment is as low or lower than the rent payment they are paying. I have helped many buyers with a purchase where they ended up paying less per month than the rent payment they were previously paying and now they own a home. When the market recovers and starts appreciating again, they will have a great automatic investment. (History has shown that real estate values recover over and over) Don't think interest rates won't go up again. This is a 30 year fixed rate. Lock it in while you can.
The $7500 tax credit exists for first time buyers or buyers that haven't owned a primary residence in three years. This is a phenomenal break that the federal government is already offering as a stimulus for buyers to buy, even prior to Obama. This also has a time of expiration. The credit expires July 1st of this year. The paperwork is actually very simple in order to get your credit.

If there has ever been a time to buy in the market place for homes, it is definitely this year. If you have a little patience on getting your offer approved, a short sale is the way to buy. After you make an offer, the seller's lender orders a brokers price opinion or an appraisal, and then makes a decision for some percentage off that amount. Each lender has its own guideline. It's definitely like shopping at a great sale. What you save today when you buy can pay you back in spades over time. You can't do that at Macy's.

Give me a call for further details. 352-427-5704

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New Listing on 9628 SE 61 TERRACE in Belleview

Nancy Deichman — Tue, 16 Dec 2008 20:54:00 GMT

Belleview, Marion County - Announcing a price reduction on 9628 SE 61 TERRACE, a 2,301 sq. ft., 2 bath, 3 bdrm single story. Now MLS® $289,000 - 2300 SF of Living Area!.

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Ocala Real Estate Activity - November 2, 2009

2009 may go down in history as the best year to buy an affordable home in history.

New Listing on 9628 SE 61 TERRACE in Belleview

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