The city of Ocala in central Florida is a haven for horse lovers, lush green rolling fields, and wonderful real estate choices.
According to real estate analysts, now is a great time to buy new homes, as there are a lot of excellent home purchase deals to find out there. With interest rates at near historical lows, the median price for homes in this area is considered to be the the 2nd lowest in Florida, which necessitates the entry of a tremendous potential for property value appreciation over the next several years.
It's Still A Buyer's Market Out There
According to statistics, the homes listed on the Marion County MLS as of March 30, 2007 were placed at 6,869. Home sales are off quite a lot from March of 06 when 614 houses were sold.
According to some housing market observers, there is a glut of vacant new homes that were bought by investors who intended to flip them and are now caught with houses they can't sell, and there were around 1,948 vacant houses on the Ocala Marion County MLS as of March 30. The homes that are selling are well priced and in the mid to lower price range. Well-priced housing units are selling close to their asking prices today as well
Where To First Stop And Ask For Housing Info
For prospective home buyers, stopping at the offices of the local Realtors association would be a good start in finding the best home options here. Many local brokers also suggest checking out the local Chamber of Commerce for info on the areas where nice homes can be seen, and bought as well. Local brokers here say that a wealth of information is available to help make the search easier.
In addition to contacting a local property broker of choice and getting referrals from peers, they also suggest getting in the car and driving around town, to better learn the area. Major housing indicators at present, show the market in Ocala is leaning toward the area of being a buyer's market. Housing analysts note that is is primarily being driven by the increasing inventory of both new and existing homes. During the 2006-2007 season, the county as a whole, reported 2,698 permits for construction of single-family homes, which is down from 6,355 in the 2005-2006 fiscal year.
For the second quarter of 2007, the median prices of homes in Marion County reached $170,900, and this represents a slight increase from $169,500 for the same period in 2006. The National Association of Realtors noted that the U.S. median home price of $223,800 for the second quarter of 2007 compared to $227,100 in 2006. For the state of Florida, the median price for the period was $221,200, down from $243,300 in 2006.
According to a study done by the University of Florida, hopeful homebuyers in the state of Florida should act now, as the price is right as the state's single-family residential housing market bottoms out, "If you're thinking of buying a house, there's probably not much to be gained by holding out at this point," notes the director of the University's Bergstrom Center for Real Estate Studies, and they add that, "It doesn’t look like prices are going to fall anymore."
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