Ocala area home sales were down for the month of September. I have no idea why that would be. Foreclosure sales were down from last month but that is not a result of the new foreclosure mess. If you read all my market reports you’ll see great and not so great months. What I’m looking for is a trend not a fluctuation.
Probably the biggest news in Ocala real estate sales is the new foreclosure mess. It seems banks were taking short cuts in their paper work during the foreclosure process. These short cuts can cloud the title making title companies reluctant to insure the title. Without title insurance banks can’t sell their foreclosures. We will have to wait and see how this will effect Ocala area foreclosures. As you can see from the chart about foreclosures are a very large percentage of our total sales.