We are having the weirdest weather here in Ocala. It has been raining for almost a week. The weather report claims we had about 7 inches and I believe it. I had to empty my swimming pool twice this week!
What’s so odd about rain in the spring you might ask? It’s supposed to be the dry season, which begins in October and doesn’t end until the first of June. Ocala has had as much rain this week as a tropical storm would deliver. Areas east of Marion County towards Daytona have had it even worse with severe flooding.
The funny thing is that until this rain we had no precipitation at all for about a month. It was a drought and everyone was worried about forest fires. There are basically 2 types of rain events in Florida. The afternoon thunderstorms caused by winds off the Atlantic colliding with winds from the Gulf, which only last an hour or two, and tropical storms. Weather like this is very odd.
In a sellers market you sell high and generally in a short time. BUT then what do you do? Unless you’re headed to the nursing home or planning a backpacking trip to Tibet you’ll probably have to buy another house. You go out into a sellers market with few choices and pay top dollar for your next house.
Now in a buyers market you may sell lower than you’d like and maybe a lot lower. But you can go out into a buyers market full of inventory and pay an equally low price. That’s why I think a buyers market is actually better than a sellers market.
The best deal of all is for first time buyers. It’s the first time buyers who get to buy low without selling low. In the Ocala market with prices as low as they are, first time buyers can own a home for the price of an upscale apartment or renting many homes. Not to even mention the income tax advantages and first time buyers tax credit and historically low interest rates.
https://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpg00Valerie Ostromhttps://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpgValerie Ostrom2009-05-19 11:33:362021-03-04 16:59:38Sell high and buy high or Sell low and buy low
Sales in April were 229 homes in Marion County. That’s a large increase over January at 142, February at 188 and about the same as March which was 220. Total listings also dropped below 6,000 which is great news.I am seeing a huge increase in buyer activity. I’m getting between 50 and 75 visitors a day to my web site and several contacts from buyers every week. That’s the good news. The bad news is that this increase in buyer interest is because home prices have dropped so much. The median home price in Marion County fell 16% in 2008 and more in certain areas.
In my opinion we are at or near the bottom of the market. I don’t expect prices to go up any time soon because there is still way too much inventory, 5900 +/- homes in relation to the number of monthly sales. We have about 30 months of inventory. A buyers market is defined as anything over 6 months of inventory. I think prices will remain fairly flat for the next several years or appreciate at the historical average of 5% or so. The days of 20% appreciation are over and won’t come back in most people’s life times.
https://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpg00Valerie Ostromhttps://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpgValerie Ostrom2009-05-18 13:36:002020-07-29 16:37:50Ocala real estate sales report for April 2009
People are buying 55+ community homes in Ocala now to retire in to in the future. Much to my surprise I’ve been contacted several times now in 2009 by buyers looking to buy a retirement home even though they’re not ready to retire just yet. Think about it, we are in the middle of the most extreme buyers market in anyone’s lifetime. Interest rates are at historical lows with no where to go but up. This is the buying opportunity of a life time. Can you can afford to buy your retirement home now and hold onto your primary home for several years until the market starts back up? This is a scenario of buy low and sell high if there ever was one.
https://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpg00Valerie Ostromhttps://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpgValerie Ostrom2009-05-18 13:27:532009-05-18 13:27:53Buy now and retire later?
I just helped a couple get a really great deal on a brand new house from a developer in Dunnellon Florida. Now some people might think that spending good money on a home inspection for a new house that comes with a builders warranty is a waste of money. Well while testing the dishwasher it spilled water all over the kitchen floor and it took the poor home inspector about a half hour to soak all the water up with some old towels he carried with him. The buyers were paying cash and there wasn’t a bank that required a survey but they elected to do one any way even though this was a new house. There are wild stories about building houses on the wrong lot. The survey revealed a minor error on the title that was corrected prior to closing. Not a big deal but something that would have surfaced on resale.
A waste of money or money well spent? You be the judge.
https://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpg00Valerie Ostromhttps://www.ocalarealestatetalk.com/2016/wp-content/uploads/2015/12/header.jpgValerie Ostrom2009-05-13 11:53:102009-05-13 11:53:10Even a new house isn’t always a perfect house.
Ocala weather update
/in Ocala Real Estate News, Ocala WeatherWe are having the weirdest weather here in Ocala. It has been raining for almost a week. The weather report claims we had about 7 inches and I believe it. I had to empty my swimming pool twice this week!
What’s so odd about rain in the spring you might ask? It’s supposed to be the dry season, which begins in October and doesn’t end until the first of June. Ocala has had as much rain this week as a tropical storm would deliver. Areas east of Marion County towards Daytona have had it even worse with severe flooding.
The funny thing is that until this rain we had no precipitation at all for about a month. It was a drought and everyone was worried about forest fires. There are basically 2 types of rain events in Florida. The afternoon thunderstorms caused by winds off the Atlantic colliding with winds from the Gulf, which only last an hour or two, and tropical storms. Weather like this is very odd.
Sell high and buy high or Sell low and buy low
/in Ocala Home-Buyers, Ocala Real EstateIs now the time to buy a house in Ocala FL ?
Think of it this way.
In a sellers market you sell high and generally in a short time. BUT then what do you do? Unless you’re headed to the nursing home or planning a backpacking trip to Tibet you’ll probably have to buy another house. You go out into a sellers market with few choices and pay top dollar for your next house.
Now in a buyers market you may sell lower than you’d like and maybe a lot lower. But you can go out into a buyers market full of inventory and pay an equally low price. That’s why I think a buyers market is actually better than a sellers market.
The best deal of all is for first time buyers. It’s the first time buyers who get to buy low without selling low. In the Ocala market with prices as low as they are, first time buyers can own a home for the price of an upscale apartment or renting many homes. Not to even mention the income tax advantages and first time buyers tax credit and historically low interest rates.
Ocala real estate sales report for April 2009
/in Market Reports, Ocala Real EstateSales in April were 229 homes in Marion County. That’s a large increase over January at 142, February at 188 and about the same as March which was 220. Total listings also dropped below 6,000 which is great news.I am seeing a huge increase in buyer activity. I’m getting between 50 and 75 visitors a day to my web site and several contacts from buyers every week. That’s the good news. The bad news is that this increase in buyer interest is because home prices have dropped so much. The median home price in Marion County fell 16% in 2008 and more in certain areas.
In my opinion we are at or near the bottom of the market. I don’t expect prices to go up any time soon because there is still way too much inventory, 5900 +/- homes in relation to the number of monthly sales. We have about 30 months of inventory. A buyers market is defined as anything over 6 months of inventory. I think prices will remain fairly flat for the next several years or appreciate at the historical average of 5% or so. The days of 20% appreciation are over and won’t come back in most people’s life times.
Buy now and retire later?
/in Ocala 55+ communities, Ocala Real EstatePeople are buying 55+ community homes in Ocala now to retire in to in the future. Much to my surprise I’ve been contacted several times now in 2009 by buyers looking to buy a retirement home even though they’re not ready to retire just yet. Think about it, we are in the middle of the most extreme buyers market in anyone’s lifetime. Interest rates are at historical lows with no where to go but up. This is the buying opportunity of a life time. Can you can afford to buy your retirement home now and hold onto your primary home for several years until the market starts back up? This is a scenario of buy low and sell high if there ever was one.
Even a new house isn’t always a perfect house.
/in Ocala Home-Buyers, Ocala Real EstateI just helped a couple get a really great deal on a brand new house from a developer in Dunnellon Florida. Now some people might think that spending good money on a home inspection for a new house that comes with a builders warranty is a waste of money. Well while testing the dishwasher it spilled water all over the kitchen floor and it took the poor home inspector about a half hour to soak all the water up with some old towels he carried with him. The buyers were paying cash and there wasn’t a bank that required a survey but they elected to do one any way even though this was a new house. There are wild stories about building houses on the wrong lot. The survey revealed a minor error on the title that was corrected prior to closing. Not a big deal but something that would have surfaced on resale.
A waste of money or money well spent? You be the judge.