Ocala Real Estate Market Report for July 2014

$10,000 to $100,000 289
$100,001 to $200,000 213
$200,001 to $300,000 58
$300,001 to $500,000 26
$500,000 plus 9
Total residential sales 596
Foreclosures 103
Short Sales 24
Active Listings 3696

Another outstanding month for home sales here in Ocala. Just a couple of years ago business was really slow during the summer months. Last year was the first year since the great real estate crash of 2007 that sales were fairly steady. I’m going to have my best year in real estate this year. The buyers market is over and we are transitioning into a neutral market. As I mentioned in past real estate reports I am predicting a sellers market in the future. My rational being that there has been almost no new construction since the crash of 07 and that will create a housing shortage.

Prices and selection are still good. I think what ever you buy today will look like a pretty good deal in 3-5 years. Call me, email me or use on Ocala Dream Home Finder.

Ocala Florida weather report for August 2014

I forgot to do my weather report at the beginning of the month. I’m not sure it matters because the weather here is the same almost every day from May to October, hot and humid with a chance of afternoon thunderstorms.

August is the beginning of hurricane season. Technically the season begins in June but the ocean water is too cool for anything to really get going until August. This is a quiet season so far just like last year. There is a pretty interesting reason for not much hurricane development. Hurricanes begin to form off the coast of Africa and for the last few years sand storms from the Sahara desert have kept hurricanes from forming. 

Utility Bills

I know that in some states up north it is common to see the oil bill to get an idea of heating costs. Here in Ocala there are no real heating costs. Our big expense is running the AC 24/7 from May through October. I don’t think much of looking at electric bills because different people have different comfort levels. I had a guy call me up to list his uncle’s home that he had just inherited. We’re talking and he says that his uncle won an award from the Ocala electric company for low energy use. I said maybe we should put that in the listing comments. Then he told me that his uncle was 80, lived alone and sat in front of a fan when it was 90 outside until he couldn’t take it anymore and turned on the AC. Different people have different comfort levels.

Ocala real estate market report for June 2014

$10,000 to $100,000 292
$100,001 to $200,000 184
$200,001 to $300,000 51
$300,001 to $500,000 13
$500,000 plus 13
Total residential sales 554
Foreclosures 109
Short Sales 13
Active Listings 3633

Home sales are up again in the Ocala Marion County area. This month we sold 554  homes and farms as opposed to 439 in June 2013.  That is an over 25% increase. I don’t think much of an areas median home prices. I think they only show what is selling and not what you get for your money. I do like the fact that homes in higher price ranges are moving. I think buyers are recognising that you get a lot here in Ocala in the $200K to $500K range. We are no longer in a buyers market. We have entered a neutral market where homes in pristine condition are getting close to full price offers and selling quickly. I think there are still good deals out there especially compared to other parts of the country and south Florida but I see list prices beginning to go up.

Statistics used for this blog post are from the Ocala Marion County MLS and are deemed to be accurate at the time this blog was written but are not guaranteed. All information is time sensitive and subject to change without notice. Home sales are for Marion County only and do not include FSBO, homes sold by builders or by auction that were not  listed on the MLS, commercial properties or vacant land. Residential sales do include farms, mobile homes and condo’s.

Not all banks are the same

This isn’t some generic blog post about 10 things to look for when picking a lender. Instead I have a couple of real estate war stories about things that happened to buyers I have known.

In one instance my buyer’s daughter was a VP with a national lender. Just before closing the bank decided to question the private roads in On Top of the World a 30 year old community that bank had been granting mortgages in for all those years. Why ? Because one hand doesn’t know what the other is doing.

In another instance my buyer had a house to sell and we made a contract contingent on the successful closing of his existing home. The buyer for his existing home was getting an FHA mortgage. The bank said they couldn’t close on time. After not closing on time the bank decided to ask for a water test on the home’s well. Something they should have done a month before ! This held up the closing for 10 more days. My buyer was already packed and ended up staying in a motel waiting for his house up north to finally close.

My point here is that there is more to consider when picking a lender than interest rates. Depending on your credit there shouldn’t be a big difference between one bank’s interest rates and another. There can be a big difference in service.

 

 

Ocala Florida weather report for July 2014

Caladium Garden

The weather forecast for July and the entire summer is easy. Hot and humid with a chance of afternoon thunderstorms every day until October.

In some ways this has been a very wet year but if you talk to people who grew up in Marion County they will tell you this is more normal and the past several years have been a drought.

No matter how you look at it the hot humid summers are a small price to pay for no winter. If you buy a house from me and it ever snows at your Ocala home I will come over and shovel your driveway. Guaranteed.

Ocala Real Estate Market Report for May 2014

$10,000 to $100,000 294
$100,001 to $200,000 182
$200,001 to $300,000 45
$300,001 to $500,000 17
$500,000 plus 7
Total residential sales 545
Foreclosures 114
Short Sales 14
Active Listings 3732

We had another great month for home sales in the Ocala Marion County market. The market is changing and it is changing faster than these statistics can show. Twice in the month of June I was working with buyers and when I went to make appointments to show houses I was told the homes had an offer but weren’t made Pending yet. It wasn’t just one house with each buyer either. I found 2 houses were pending for each buyer. I also encountered my first multiple offer situation since I became a Realtor on 2006. I still think there are great deals out there but they will start getting harder to find very soon.

Statistics used for this blog post are from the Ocala Marion County MLS and are deemed to be accurate at the time this blog was written but are not guaranteed. All information is time sensitive and subject to change without notice. Home sales are for Marion County only and do not include FSBO, homes sold by builders or by auction that were not  listed on the MLS, commercial properties or vacant land. Residential sales do include farms, mobile homes and condo’s.

Ocala Florida weather report for June 2014

Trumpet Bush

June is the beginning of our wet season. The humidity is back and every day will be 90 to 95 until the end of October. Every afternoon we have a chance of thunderstorms. Thunderstorms are very hit or miss. It can pour in one spot and be clear 2 miles away. It is also the beginning of hurricane season. Although the ocean water is still too cool this early in the year. Ocala is about as safe from hurricanes as you can get in Florida. Hurricanes seem to either hit south Florida or go up the east coast to the Carolina’s or into the Gulf and hit the Panhandle or over towards Texas.

The heat and humidty is a small price to pay for no snow.

The real estate market in Ocala is changing

Last week was a crazy week for me. First it was the busiest I’ve been since I started real estate here in Ocala in 2006. I was trying to work with 3 buyers at the same time. Secondly I encountered my first multiple offer situation. Which my buyer won by the way. Third when I went to make appointments to view homes 3 had offers that were so new that the listing agent hadn’t had time to change the listing status to pending. I almost never find a home that I want to show already has an offer let alone 3 ! If you’re still waiting for the market to hit bottom you missed it. The market is starting to go up.

Ocala Florida Real Estate Market Report for April 2014

$10,000 to $100,000 347
$100,001 to $200,000 167
$200,001 to $300,000 52
$300,001 to $500,000 11
$500,000 plus 3
Total residential sales 580
Foreclosures 121
Short Sales 25
Active Listings 3748

April was a great month for home sales here in Ocala with 580 homes sold. As a point of reference we sold 489 homes in April 2013 and 388 in April 2012. I work mostly in retirement communities and although I haven’t seen sold prices going up much some homes are getting listed with higher prices. I think it is just a matter of time before sold prices start going up. Our average number of days on the market is down to 100. Most homes sell for 90-95% of list price. Ocala is still a great deal. The median home price in Ocala is $93,000.00 while the median home price for all of Florida is $175,000.00 and for the entire country it is $201,100.00

Statistics used for this blog post are from the Ocala Marion County MLS and are deemed to be accurate at the time this blog was written but are not guaranteed. All information is time sensitive and subject to change without notice. Home sales are for Marion County only and do not include FSBO, homes sold by builders or by auction that were not  listed on the MLS, commercial properties or vacant land. Residential sales do include farms, mobile homes and condo’s.

Joe Dallorso
Fontana Realty
7668 SW 60th Avenue #200
Ocala FL 34476
352-598-4340

EMAIL JOE
Ocala FL Weather
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