Happy Friday!
Here is January’s real estate market report for Marion County! As you can tell inventory is low, and home resales are up! Not to mention interest rates hit a 3 month low! Now is a great time to buy and sell real estate!
Please call/text me if I can help in anyway! (352) 577-9171
Good Day All,
Did you know that the State of Florida’s population grows by about 906 new residents daily? This is such a positive thing for our economy and real estate market. Check out this article that Florida Realtors posted!
https://www2.floridarealtors.org/news-media/news-articles/2019/08/florida-housing-market-median-prices-inventory-2q
If you have given any consideration to selling your home now is a great time! Sellers market! Please let me know if I can help in anyway.
(352) 577-9171 or Info@Search352Homes.com
Happy Friday Everyone!!
We have another contest for you and the winner will win a Dunkin Donuts Gift Card!!
I understand that it is very stressful for a homeowner or home buyers to hire and choose the right Realtor for them! Below are 5 things I think you should consider when hiring a Realtor.
Which one of these is most important to you when hiring a Realtor? All you have to do is leave a comment on my Facebook post regarding this topic and your name with go in a drawing for a Dunkin Donuts Gift Card!! >>> www.Facebook.com/RountreeRealty
Winner will be announced next week on Facebook!! Stay tuned for more contest and giveaways!!
All real estate is local and every market is unique. Remember that when you hear reports from the major new networks. We are seeing some positive signs in the Ocala / Marion County Market with the Median Home Price now at $80,900 with 1-year Appreciation at -1.6% and a 3 year Appreciation of a whooping -40.1%. This relatively recent correction in local home prices wiped out most of the equity gained over the last 7 years. State Existing Home Sales(2011 Q3 vs 2010 Q3) is at +10.6% for Florida and Nationally 17%.
The market share of Foreclosures by type is 88.3% are Prime Loans, 5.1% are Sub-Prime Loans and 6.6% are Alt-A Loans. There has been a decline of both 60 and 90 day delinquency rates over the most recent 6-month period suggests a decline in local foreclosure rates in the near future.
Based on Ratio of Local Mortgage Servicing Cost to Income, Ocala has typically been more affordable than most markets. For example the Monthly Mortgage Payment to Income for Ocala is 6.6% compared to 15.5% in the United States for 2010 and 5.7% locally for 2011 and 13.9% nationally with the historical average at 11.3% locally and 22% nationally. The price to income ratio has fallen as well and is below the historical average.
Well it could mean we are close to reaching the bottom of the housing value slide. But it will take a strong economy and more local jobs for the housing market to continue gaining traction. There is less inventory on the market with an increase in buyer activity, compared to the same time last year. We are a long way from seeing appreciation in our homes but hopefully close to reaching the bottom and no more depreciation of value.
“Until Next Time”