It’s still hard for me to believe that during the pandemic Ocala home sales are great. November closed sales were up 11.6% over 2019 and the median sold price was up 13.4% . Homes are selling fast and close to the list price. I personally had a better year in 2020 than I did in 2019.
https://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpg00Valerie Ostromhttps://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpgValerie Ostrom2020-12-31 15:11:522020-12-31 15:11:52Ocala Real Estate Market Report November 2020
My buyers selected at large national bank where they already had an account. We wrote a contract with a 45 day close. In Florida we pick a closing date at the time of the offer and that is the date we are supposed to close unless the sellers and buyers agree in writing to change that date. The loan officer assured my buyers right up to a couple of days before closing they would close on time. It’s important to know that the loan officer usually has little authority over the closer and underwriters. The people in the back room who in the case of big banks are in different cities started asking for more documents. For the 3rd time they asked the buyers for proof of funds they needed for closing in addition to their loan. Those funds were in a different bank. The buyers gave them proof but it took a week for it to go through the bureaucracy. We were now past the closing date. The sellers were furious. Did the bank do anything to expedite things ? No the buyers had an existing home they owned and gave that address to mail the home insurance bill to for their new Ocala house. The underwriters made them change that address with their insurance company. You might think something like that could be done in hours but no it takes days for the bank to respond. Then the bank wanted to see the insurance policy on their other home, a home they had no mortgage on. You might think it is none of the banks business what you do with another home you own but at this point the buyers were at their mercy. The point of this post is that big banks have no mercy. No compassion. They don’t think a state real estate contract terms apply to them. The buyers eventually closed almost 2 weeks after the agreed on date. Both the buyers and sellers were under a lot of stress. The sellers had moved out before the original closing date and needed their money.
Think long and hard before you pick a lender. Interest rates and fees are not the only thing to consider. A local lender is almost always a better choice than a national lender. You can go with any lender you want but ask them if they have a guarantee to close on time, not a promise.
https://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpg00Valerie Ostromhttps://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpgValerie Ostrom2020-12-29 11:07:562020-12-29 11:07:56And yet another bank screws up a sale
So far December has been much cooler than normal. Today is December 8th and we have had two cold fronts and a frost already this winter. Normally high temperatures should be in the mid 70’s during the day and the 50’s or 60’s at night. The past several days have been in the 60’s and even a couple of 50’s during the day. That’s cold for Ocala. The winteer is my favorite time of year. Warm and dry.
https://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpg00Valerie Ostromhttps://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpgValerie Ostrom2020-12-08 16:59:062020-12-08 16:59:06Ocala Florida Weather Report December 2020
Sales volume is down a little compared to October 2019. Homes prices are up. Inventory is down. Homes are selling quickly and close to asking price but we are not seeing much for crazy multiple offer situations. Compared to other parts of the country Ocala home prices are a steal.
https://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpg00Valerie Ostromhttps://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpgValerie Ostrom2020-12-08 16:31:122020-12-08 16:31:12Ocala Real Estate Market report October 2020
October was an unusually warm month. Normally it begins to cool down mid month. It did that in October but it heated back up through the first week of November. It was also more humid than normal.
November should be cool and dry with temperatures in the mid 70’s. I hope it cools down soon. According to the weatherman on TV it should cool down this coming week.
Tropical storm Eta passed just north of Ocala. It was a non event. A little rain and some 30 mph wind.
https://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpg00Valerie Ostromhttps://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpgValerie Ostrom2020-11-13 15:50:192020-11-13 15:50:19Ocala Florida weather report November 2020
Ocala Real Estate Market Report November 2020
/in Market Reports, Ocala Real Estate, Ocala Real Estate NewsIt’s still hard for me to believe that during the pandemic Ocala home sales are great. November closed sales were up 11.6% over 2019 and the median sold price was up 13.4% . Homes are selling fast and close to the list price. I personally had a better year in 2020 than I did in 2019.
And yet another bank screws up a sale
/in Ocala 55+ communities, Ocala Home-BuyersThis is a follow up to my previous blog post Not all banks are the same.
My buyers selected at large national bank where they already had an account. We wrote a contract with a 45 day close. In Florida we pick a closing date at the time of the offer and that is the date we are supposed to close unless the sellers and buyers agree in writing to change that date. The loan officer assured my buyers right up to a couple of days before closing they would close on time. It’s important to know that the loan officer usually has little authority over the closer and underwriters. The people in the back room who in the case of big banks are in different cities started asking for more documents. For the 3rd time they asked the buyers for proof of funds they needed for closing in addition to their loan. Those funds were in a different bank. The buyers gave them proof but it took a week for it to go through the bureaucracy. We were now past the closing date. The sellers were furious. Did the bank do anything to expedite things ? No the buyers had an existing home they owned and gave that address to mail the home insurance bill to for their new Ocala house. The underwriters made them change that address with their insurance company. You might think something like that could be done in hours but no it takes days for the bank to respond. Then the bank wanted to see the insurance policy on their other home, a home they had no mortgage on. You might think it is none of the banks business what you do with another home you own but at this point the buyers were at their mercy. The point of this post is that big banks have no mercy. No compassion. They don’t think a state real estate contract terms apply to them. The buyers eventually closed almost 2 weeks after the agreed on date. Both the buyers and sellers were under a lot of stress. The sellers had moved out before the original closing date and needed their money.
Think long and hard before you pick a lender. Interest rates and fees are not the only thing to consider. A local lender is almost always a better choice than a national lender. You can go with any lender you want but ask them if they have a guarantee to close on time, not a promise.
Ocala Florida Weather Report December 2020
/in Living in Ocala, Ocala WeatherSo far December has been much cooler than normal. Today is December 8th and we have had two cold fronts and a frost already this winter. Normally high temperatures should be in the mid 70’s during the day and the 50’s or 60’s at night. The past several days have been in the 60’s and even a couple of 50’s during the day. That’s cold for Ocala. The winteer is my favorite time of year. Warm and dry.
Ocala Real Estate Market report October 2020
/in Market Reports, Ocala Real Estate, Ocala Real Estate NewsSales volume is down a little compared to October 2019. Homes prices are up. Inventory is down. Homes are selling quickly and close to asking price but we are not seeing much for crazy multiple offer situations. Compared to other parts of the country Ocala home prices are a steal.
Ocala Florida weather report November 2020
/in Living in Ocala, Ocala WeatherOctober was an unusually warm month. Normally it begins to cool down mid month. It did that in October but it heated back up through the first week of November. It was also more humid than normal.
November should be cool and dry with temperatures in the mid 70’s. I hope it cools down soon. According to the weatherman on TV it should cool down this coming week.
Tropical storm Eta passed just north of Ocala. It was a non event. A little rain and some 30 mph wind.