Archive for August, 2010
Ocala Real Estate Market Report July 2010
| $10,000.00 to $100,000.00 | 199 | |
| $100,001.00 to $200,000.00 | 96 | |
| $200,001.00 to $300,000.00 | 15 | |
| $300,001.00 to $500,000.00 | 5 | |
| $500,000.00 plus | 4 | |
|
319 | |
| Farm properties all price ranges | 11 | |
| Foreclosures | 129 | |
| Short Sales | 51 | |
| Active Residential Listings | 5,442 |
Sales for July were down quite a bit from previous months. From March through June we were doing 370-380 homes a month. In July we dropped down to 319. I’m sure some will blame the tax credits expiring but I’m not so sure. I’m going to wait a month or 2 and see if this is a trend or a statistical aberration.
Looking back at old Market Reports you can see that although sales are up in 2010 inventory has remained about the same. As long as inventory is as high as it is our severe buyers market will continue.
The average 30 year mortgage dropped again to to 4.44% for the week ending 8/12. The 15 year rate was 3.92%. This is the lowest rate since Freddie Mac began keeping records in 1971. These rates are being kept artificially low by the FED to stimulate the economy. These rates can’t last forever.
If you’d like to know more about Ocala area home prices email me, call me or use my Ocala Dream Home Finder.
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.
Silver Springs Shores Ocala Florida
Silver Springs Shores is a huge community just east of Ocala. Silver Springs Shores isn’t really a town or sub division. It is technically called a census designated place. There are 3 areas of The Shores, Silver Springs Shores North, Silver Springs Shores South and Silver Springs Shores East. Additionally there are several sub divisions within The Shores. Lake Diamond is a gated golf course community that is not 55 plus. Crystal Lakes which is a deed restricted community. There are also several condominium communities in The Shores.
Homes in Silver Springs Shores date back to the late 1960′s but most date from the 1970′s through the real estate boom of 2003-08. There are still an almost endless number of vacant lots in this area too.
During the real estate boom years of 2003-08 builders saw that there were a lot of cheap lots on paved roads in The Shores. During this time a huge number of new homes were built and sold to investors hoping to buy at pre construction prices and flip the homes on completion. Most were never sold and went into foreclosure. Silver Springs Shores has more foreclosures than any where in Marion County.
Silver Springs Shores foreclosures are one of the hottest parts of our real estate market. Newer homes built during the boom years are selling as foreclosures for under $100,000-. There are also a lot of short sales in The Shores. As a result of so many foreclosures and short sales traditional sellers have had to lower their prices in order to compete and these traditional sales can be in better condition and a good value.
If you are interested in a list of homes for sale in Silver Springs Shores either call me, email me or use my Ocala Dream Home Finder. I can set you up a Listing Cart on the Ocala MLS for The Shores area. Be specific as to the sq ft of living area, age and price range. There are 100′s of homes for sale in this area.
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Ocala Florida weather August 2010
This has been a crazy year for Ocala Florida weather. This winter set records for cold weather and now this summer is on pace to be one of the 10 hottest on record. In July 21 out of 31 days were above normal. Rain has been about average but it seemed a little on the dry side at my house.
Here’s a link to an interesting weather article in the Starr Banner .
August weather should be in the low 90′s during the day and the low 70′s at night with regular afternoon thunderstorms. August is not the last month of summer here in Ocala. Both September and most of October are summer months.
August is also the month when hurricane season really gets rocking and rolling. The ocean temperatures are reported to be higher than normal, which is what fuels hurricanes, so it should be an interesting year. Ocala is probably the safest place to be in Florida during hurricane season but we do get tropical storm force winds and torrential rain.
Check out the Ocala Weather page on my web site for average temperatures by the month and more Ocala weather info.
