Posts

Utility Bills

I know that in some states up north it is common to see the oil bill to get an idea of heating costs. Here in Ocala there are no real heating costs. Our big expense is running the AC 24/7 from May through October. I don’t think much of looking at electric bills because different people have different comfort levels. I had a guy call me up to list his uncle’s home that he had just inherited. We’re talking and he says that his uncle won an award from the Ocala electric company for low energy use. I said maybe we should put that in the listing comments. Then he told me that his uncle was 80, lived alone and sat in front of a fan when it was 90 outside until he couldn’t take it anymore and turned on the AC. Different people have different comfort levels.

The real estate market in Ocala is changing

Last week was a crazy week for me. First it was the busiest I’ve been since I started real estate here in Ocala in 2006. I was trying to work with 3 buyers at the same time. Secondly I encountered my first multiple offer situation. Which my buyer won by the way. Third when I went to make appointments to view homes 3 had offers that were so new that the listing agent hadn’t had time to change the listing status to pending. I almost never find a home that I want to show already has an offer let alone 3 ! If you’re still waiting for the market to hit bottom you missed it. The market is starting to go up.

Houses you can’t buy cheap enough

I work almost exclusively as a buyers agent so I look at a lot of homes. There are times I just walk away shaking my head thinking you can’t buy this house cheap enough. No house is perfect and certainly not the less expensive ones but I sometimes see houses that need a roof, AC, new flooring and the kitchen and baths are outdated as well. One or two updates are to be expected but not all of them ! You often see these homes in 55+ communities where someone buys a home and lives in it for 20 years without ever doing a thing to it. I don’t think much of foreclosures either. Foreclosures come with a Special Warranty Deed which is a limited warranty. I’ve asked people who work at title offices if they would buy a house with a special warranty deed and every single one has said no so far. The moral of this story is that houses are usually cheap for a reason and some you can’t buy cheap enough..

Florida home owners insurance companies rated by size

Is bigger better when securing property insurance?

 TALLAHASSEE, Fla. – Jan. 9, 2014 – Florida-owned Citizens Property Insurance retained its lead as the state’s largest residential property insurer in the latest “top 20” numbers released by the Florida Department of Insurance Regulation.

Top 20 personal residential writers in Florida as of Dec. 31, 2012

1. Citizens Property: 1,268,071 policies
2. Universal Property & Casualty: 542,882 policies
3. State Farm Florida: 387,970 policies
4. Security First: 177,589 policies
5. St. Johns Insurance: 175,535 policies
6. Homeowners Choice: 152,446 policies
7. American Integrity: 150,189 policies
8. Florida Peninsula: 139,721 policies
9. USAA: 135,964 policies
10. United Property & Casualty: 117,233 policies
11. Tower Hill Prime: 113,624 policies
12. Castle Key Indemnity (Allstate): 113,344 policies
13. Castle Key Insurance (Allstate): 109,156 policies
14. American Bankers: 104,489 policies
15. ASI Assurance: 101,480 policies
16. Florida Family: 96,190 policies
17. ASI Preferred: 90,340 policies
18. Tower Hill Signature: 77,533 policies
19. Southern Fidelity: 75,124 policies
20. Ark Royal: 74,276 policies

© 2014 Florida Realtors®

Spruce Creek Preserve home for sale

white house with tree in front

Spruce Creek Preserve home for sale. This Fir model, built in 1998 has 1,424 sqft of living area and 2244 sqft under the roof. It features newer carpeting, updated appliances, 2 bedrooms, 2 full baths and a 2 car garage. It is in an especially desirable location with no neighbors directly in back. There is a great view of the clubhouse from the Lanai. HOA fees are $117- month that cover trash pick up, use of the clubhouse, pool, fitness center, maintenance of the common areas and professional community management. Golf is not part of the HOA fees. This home is priced at $89,500-

UNDER CONTRACT  Only 57 days on the market !
SOLD

 

Ocala Florida sink holes

Sinkholes: An overview from Fla. DEP

TALLAHASSEE, Fla. – Aug. 16, 2013 – Another Florida sinkhole made national headlines when a resort near Disney World broke apart. Because the phenomenon scares most homeowners, the Florida Department of Environmental Protection’s Florida Geological Survey compiled the following information. It provides a single point source for general knowledge about the nature of sinkholes in Florida, along with information on what should be done if a sinkhole happens nearby.

Facts about sinkholes in Florida

• The entire state sits on top of several thousand feet of limestone, which can form with natural void spaces called porosity. In limestone where the void spaces are connected, the rock is permeable. In most ways, this is positive: Porous and permeable limestone makes great aquifers and provides millions of gallons of fresh drinking water for residents and agriculture. However, acidic groundwater can change the limestone, leading to sinkholes.

• Sinkholes form from the collapse of surface sediments into underground voids. In Florida one may see solution sinkholes, cover-subsidence sinkholes or cover-collapse sinkholes. The first two types will show very little topographical disturbance to the naked eye, while the third is the type that shows an abrupt change in topography and the one most people consider when they hear the word “sinkhole.”

Questions about sinkholes

My yard is settling … Do I have a sinkhole?
Maybe. But a number of other factors can cause holes, depressions or subsidence of the ground surface. Expansive clay layers in the earth may shrink upon drying, buried organic material, poorly-compacted soil after excavation work, buried trash or logs and broken pipes all may cause depressions to form at the ground surface. These settling events, when not verified as true sinkholes by professionals, are collectively called “subsidence incidents.”

If the settling affects a dwelling, further testing by a licensed engineer with a licensed geologist on staff or a licensed geology firm may be in order. Property insurance may pay for testing, but in many cases insurance may not cover damage from settling due to causes other than sinkholes.

A sinkhole opened in my neighborhood … should I be concerned?
Although sinkholes in Florida sometimes occur in sets, most are isolated events. The bedrock underlying the state is honeycombed with cavities of varying size, most of which will not collapse in our lifetimes. A quick inspection of your property for any sinking or soft areas might be prudent. Unless the sinkhole is very large and extends to your property, there’s likely to be little reason for concern.

Should a sinkhole open in an area near you, the hole should be immediately cordoned off and clearly marked to protect traffic. Contact local law enforcement to report the hazard and call your city or county road department to initiate repair work. If the road is private, repair of the hole is usually the responsibility of the landowner or property owners’ association.

Is there a safe area of Florida with no chance of sinkholes?
Technically, no. Since carbonate rocks underlie the entire state, sinkholes could theoretically form anywhere. However, there are definite regions where sinkhole risk is considerably higher. In general, areas of the state where limestone is close to surface, or areas with deeper limestone but with certain types of water table elevation or characteristics have increased sinkhole activity.

More information about Florida sinkholes should be developed over the next three years. The Department announced recently that the Florida Geological Survey, in conjunction with the Florida Division of Emergency Management, has received a $1.1 million grant from the Federal Emergency Management Agency (FEMA) to address sinkhole vulnerability.

© 2013 Florida Realtors®

No one has been building since 2007

Buyers often come to me looking for a newer home here in Ocala. I often tell them that no one has been building homes here since the market crash in 2007. Of course it isn’t true that no one has built anything since 07 but there has been very little building. Builders simply can’t compete with the prices of resales.

Here are permits for single family homes by the year to illustrate my point.

2004  4,611

2005  5,601

2006  6,026

2007  2,139

2008    933

2009    316

2010    399

2011    325

2012    359

 

What you want may not exist

My web site and blog attract a lot of out of the area buyers. It’s not my job to find a buyer exactly what they want. I feel it is my job to show them what is available here in Ocala for their budget. For example there are a lot of people who’d like a $150K farm. Can I find one ? Well that depends on your definition of a farm. If you mean a mobile home on a couple of acres of agricultural zoned land then yes you can get a farm here. I also get buyers looking for a 55+ community with a big lot and almost no HOA fees. Is it impossible ? No but it does eliminate 98% of the 55+ listings. Feel free to contact me about anything to do with Ocala real estate but just be aware that what you want doesn’t always exist.

Confusion about Ocala 55+ homes

houses along both sides of a street

I get a lot of buyers asking about Ocala 55+ communities. There seems to be confusion about what these communities are and are not. Ocala 55+ communities are about a lifestyle. They are communities with a clubhouse, community swimming pool or multiple pools, clubs and activities. The homes tend to be on small lots because retired people don’t want a lot of yard work. They are all located in areas where shopping, dining and medical care is close by. All of which is funded through HOA fees.

The 55+ communities are not just single family homes with big yards and a back yard swimming pool in a neighborhood with age restrictions. The closest thing we have to a 55+ community with big yards and age restrictions is Marco Polo Village. Close but with smaller 1/4 acre lots is Quail Meadow. If you write me about either of these communities be aware that they are both small with only a few resales a any given time.

Short Term Ocala Rentals

Every fall people from up north email me about renting a home usually in a retirement community for a month or two during the winter. If rentals like this exist they aren’t handle by real estate agents. First off when you rent a house for less than 6 months and one day in Florida the owner is supposed to collect hotel taxes. Secondly think about it from the owners perspective. The owner has to find a new renter every month or two? In addition there is no rental market in the hot Florida summers so the house sits vacant. Finally even if an owner wanted to do a short term rental they couldn’t pay a commission to an agent they’d have to handle it on their own. Realtors do handle leases, usually 1 year leases.