Archive for July, 2010
Marion Oaks is a huge sub division just south of Ocala. It was first established in 1973 and comprises 15,000 acres. Like many Marion County sub divisions of that era, Marion Oaks was divided into lots and all the roads were laid out and paved. Also like most sub divisions of that era, most of the lots were never built on and many lots are still vacant today. More on Marion Oaks.
Fast forward to the building boom of 2003-08. Marion Oaks was full of cheap lots with existing roads and utilities. During this period a tremendous number of new homes were built. Many of these homes were sold to investors who thought they could buy a house at a pre construction discount and flip the house once completed for a profit. A huge number of these homes were never flipped and eventually went into foreclosure.
At the time of this blog post Marion Oaks foreclosures represent about 15% foreclosed of home sales in the Ocala Marion County area. There are two types of foreclosures in Marion Oaks. The first type is the newer homes built after 2003, which are larger homes from 1500-2300 sq ft and of CBS construction. In addition to the newer Marion Oaks foreclosures there are quite a few smaller block homes built in the 70′s and 80′s. Most of these older homes need work but they sell pretty cheap.
Check out my Ocala Foreclosure Guide for more on buying an Ocala foreclosure and other distressed properties.
If you are interested in Marion Oaks foreclosed homes give me a call, send me an email or use the Ocala Dream Home Finder. I can set you up a Listing Cart which is a custom MLS search for Marion Oaks. I will need a price range and a sq ft of living area range at the minimum. I will set you up a personal account on the Ocala MLS that will show every foreclosure in Marion Oaks and automatically notify you when ever a new foreclosure gets listed.
View larger map
|$10,000.00 to $100,000.00||236|
|$100,001.00 to $200,000.00|| 107
|$200,001.00 to $300,000.00|| 21
|$300,001.00 to $500,000.00|| 4
|$500,000.00 plus|| 4
|Farm properties all price ranges||5|
|Active Residential Listings||5,317|
June was another good month for home sales in Marion County. There were 372 residential home sales in the Ocala area which is about what we have been seeing since March. Also, as we have been seeing for well over a year now, short sales and foreclosures represented 208 out of the total of 372 homes sold.
Here’s my advise to buyers. Interest rates, much to my surprise, have gone down even further. Rates are at a 50 year low with no where to go but up. There is a great selection of bargain priced homes. Buy now .
My advise to sellers is to price your house right. Testing the market is a waste of time, no one will look at your house. Speaking of a lack of showings, buyers are looking at your house every day, just not in person. Buyers look at homes online and then decide to view the best priced homes in person. Finally even if you do get an offer on your house it still has to pass a bank appraisal. Banks are using short sales and foreclosures as comparables for traditional sales. Well priced traditional sales are selling as evidenced by the 164 sales this month.
If you are interested in buying a home in the Ocala area call me, email me or use my Dream Home Finder in the right hand column of this blog.
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 not listed on the MLS, commercial properties or vacant land.
The summer of 2010 has been unusually hot and wet. Summer in Ocala is always hot and wet but this year is off to a real bang. From watching the weather I think we might also have a big hurricane season this year. It appears the water in the Gulf is 3 or 4 degrees above normal. With hurricanes it’s all about feeding off the warm water.
Weather in July here in Ocala is hot. It is 90 to 95 every day but never much more. There is plenty of humidity in the air. It doesn’t rain every afternoon but it has rained this year about 4 days out of 7.
I have an entire page on my web site devoted to Ocala Weather. Check it out and remember no matter how hot it gets in the summer here in Florida it’s a small price to pay for no winter.