Ocala Real Estate Talk

We had an excellent month for home sales here in Ocala for May. May’s 400 home sale’s is the 2nd best month this year. The real news, and this is something I don’t see in the papers or on TV, is that the number of active listings keeps going down, When I started my blog in January 2009 we had 6500 listings. Today we have 4044 listings. It is months of inventory that defines a buyers market. I definitely don’t see prices going up but I can’t imagine them going down much more either. I do think selection will become limited if the number of active listings keeps shrinking, especially when you take into account that there is very little new construction and there hasn’t been much at all since 2008.

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.

Even though our spring, which starts in March, is warmer than summer in many parts of the country I still think of June as the beginning of summer here in Ocala,  From the first of June until mid October it will be in the 90′s every single day. June is also when the humidity returns and it also stays around until mid October too. The night time temperatures drop to the low 70′s but it stays humid all night long. You get used to the heat and humidity after a while here in Ocala. I moved to Ocala from Maine where it seldom gets into the 80′s and now I been here a while the heat doesn’t bother me at all.

June is also the start of hurricane season, which as you might have guessed, lasts until October. No where in Florida is totally hurricane proof but Ocala is about as safe as you can get. The only evidence of a hurricane that I can find hitting near Ocala was in 1968 when Gladys came in land south of Ocala and did some damage.

May was warmer than usual and extremely dry. I don’t think it rained at my house in SW Ocala the entire month of May at all.

Ocala weather by the month.

“The heat and humidity of Ocala summers are a small price to pay for no winter”.

Home sales were down from last month but that’s not surprising. March was the biggest month for sales since the market crashed. April is actually a great month in my opinion.

The big news is that inventory seems to be on a steady decline. As of today there are 4178 homes for sales on the Ocala Marion County MLS. That’s a huge decline from the dark days of 07-08 when there were over 7,000 active listings.

If you are waiting for the market to bottom out then this is it. A combination of brisk sales and a sharp decline in inventory are signs of the bottom.

I don’t think prices will go up in the short term. However I do think that there is a huge back log of out of state buyers. When these out of area buyers eventually sell their existing homes, competition may start to drive prices higher. After all the Ocala area has the lowest median home prices in Florida so there is no where to go but 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.

Horses by the fence an original photo by Joe Dallorso

Today is Kentucky Derby day. Of the 19 horses running in today’s race 15 have ties to Ocala. Some were bred here, others were trained here and a couple are locally owned. It’s not just the great winter weather that attracts some of the world’s best horse trainers and breeders. It’s the grass. Limestone soil adds minerals that grow strong bones and great race horses. And that’s why Ocala Florida is the horse capitol of the world.

Link to a very nice Kentucky Derby article in the Ocala Star Banner.

Update : Top 3 horses in Kentucky Derby had ties to Ocala farms.

Wild Flowers SW 80 Ave Ocala FL

It has been an unusually warm spring here in Ocala, with many days in April approaching 90 degrees.  Normally temperature in April should be in the low 80′s. It’s been dry as is to be expected in the winter and spring months here. The humidity won’t return until the end of May which is also the start of our wet season.

May temperatures are normally in the high 80′s and night time temperatures drop to the mid to high 60′s. By the end of the month it will get humid and stay humid until mid October. Afternoon thunderstorms should get going by the end of May too.

It’s always a sunny day here in Ocala. Even when you get rain it’s only for a few hours and the sun comes back out. If you’re sick of winter followed by cold raw rainy spring weather then move to Ocala. The hot and humid summers are a small price to pay for no winters.

There was a huge increase in Ocala area home sales in March. In March there were 455 sales in Marion county. That’s a huge increase from February with 328 sales. It has been years since our multiple listing service had over 400 sales in 1 month.  In addition we saw another decline in the number of active listings. Is this the beginning of a recovery?

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.

So far April 2011 has been unusually warm. Actually more like hot. We’ve had several days close to 90 degrees. This is unusual since our average high is closer to 80. We’ve also seen a good deal of rain so far this month with a series of fronts bringing much needed rain during our dry season. Even though the temperatures have been high there is no humidity this time of year so the weather is great.  The spring is the best time of year here in Ocala and it lasts from late February until the end of May when the humidity returns.

Rainbow Springs Country Club is located about 30 minutes west of Ocala in Dunnellon. This is a golf course community that is not 55 plus. Rainbow Springs Country Club started building homes in 1980 and there are still vacant lots for sale today. Lot sizes vary but most are 1/4 or 1/2 acre in size.  There are some wood frame homes but most are concrete block and stucco. Sizes vary from just over 1200 sq ft to well over 3,000 sq ft. In addition to single family homes there are also condominiums.

Rainbow Springs Country Club is a great alternative to the 55+ golf course communities. You get larger lots and more privacy. Unlike 55+ communities you can find pool homes here. Most lots also have mature shade trees. There are also homes with golf course frontage.

Rainbow Springs country Club is a deed restricted community with very low HOA fees of about $110- per year. That’s because this is not a gated community and the fees only cover maintaining the common areas. Joining the country club is optional.

Rainbow Springs Country Club has a clubhouse and golf course.  The Clubhouse features a swimming pool, tennis courts, shuffle board, a fitness center, billiards, crafts and a small library. There are also two restaurants, the Grill adjacent to the pro shop and Juliette’s for more formal dining. Joining the country club is optional and is not part of the HOA fees. There are several types of membership, both golf and social and it’s best to contact the office at Rainbow Springs Golf and Country Club for details.

If you are interested in homes in Rainbow Springs Golf and Country Club email me, call me or use my Dream Home Finder. I’ll set you up a Listing Cart to see homes that meet your needs.

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I often get buyers who are looking for a pool home in a 55+ retirement community.  There are very few homes with private pools in 55+ communities. Retirement communities all have clubhouses with a community pool. Some have outdoor and indoor pools. Others like Oak Run have several pools. If you prefer a private pool of your own then you should be looking in the non 55+ communities because 99% of 55+ listings do not have private pools.

Non 55+ communities usually don’t have a clubhouse and activities but there are plenty of retired residents every where here in Ocala. I live in a non 55+ community and when I go to my HOA meetings I’m one of the younger residents and I’m 56!

Sales were good for February but the big news is a decline in the number of listings. For the first time since I can remember listings went below 5,000. At one time in late 07 and early 08 we were up around 7500. We still have a little over 14 months of inventory but that’s way below the 30 months of inventory during those dark days of 2008.

As you can see we’re still selling plenty of foreclosures most of which are in the Shores and Marion Oaks. Short sales still lag behind foreclosures in the number of sales. Banks still can’t seem to get a handle on short sales and move then in a reasonable period of time. Short sales take from 8 weeks to 6 months or more to close and most buyers can’t or won’t wait that long.

It’s great weather in March in Ocala. The 80′s every day with no humidity and very little rain. Housing prices are the lowest in Florida. Call me, email me or use my Dream Home Finder and I’ll find you a house.

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