Archive for April, 2009
Foreclosures in Ocala and just about every where else are sold “AS IS”. That’s really AS IS with the right to an inspection within a specified period of time. The buyer has the option of withdrawing their offer should the inspection reveal a large issue with the home.
In Ocala there are a lot of foreclosures that are only a couple of years old and some have never been lived in. However these same houses have also sat vacant with no AC in the hot humid Florida summers. Many houses that were never occupied might never have had the builder do a final punch list. That’s all those things that were either over looked or just screwed up by sub contractors and should have been repaired by the builder but were not.
It’s very important to have a home inspection no matter how much you know about home repairs.
Most important of all is to realize that AS IS means just that. No one is going to fix anything ever. That’s one reason the price is so low.
For even more about foreclosed homes in Ocala
Below is an explanation of the first time buyers tax credit I copied from the Florida Realtors newsletter.
Now is the time to buy. Interest rates are at historical lows. Priced have dropped dramatically in many areas here in Ocala. This tax credit should be a huge help for first time buyers.
|$100.00 to $100,000.00||111|
|$100,001.00 to $200,000.00||88|
|$200,001.00 to $300,000.00||17|
|$300,001.00 to $500,000.00||4|
|TOTAL SALES FOR THE MONTH||221|
|TOTAL ACTIVE LISTINGS FOR MONTH||6,664|
Sales were up in March from previous months this year. That’s the good news. The reason that sales are picking up is that home prices have gone down. The median home price on the Ocala Marion County MLS dropped 16% in 2008. Great for buyers. Seller have to accept the fact that the bubble burst and 2004-07 price are gone and won’t return any time soon.