My real estate career has come full circle. I got my license in 2006 during a crazy real estate boom. In 2008 the bubble burst. I survived the next few years selling cheap homes for low commissions. Finally things picked up and prices went up and things were good. Now here in Ocala we are in a serious sellers market. By that I mean low inventory and homes selling in a few days in some cases.
I wrote this in May of 2009 and it holds true today. Sell high and buy high or Sell low and buy low
Is 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 real estate crash in 2008 was not at all the same as today. In 08 a lot of people were buying homes with no down payment and poor credit. In Ocala people were actually speculating by putting money down on a new house and planning to flip it in 6 months after it was completed. There is none of that now.
Today is more supply and demand. A lot of people are leaving northern states and even South Florida because Ocala still has reasonable home prices when compared to other areas. Actually compared to my home town in Massachusetts prices in Ocala are cheap.