Ocala Residential Sales Activity for September
Our local residential market usually tells a story of some kind. Its seems that the sales may be slowing, as 360 homes sold in September, down from over 400 homes for several previous months. The pending sales, homes under contract for upcoming closings, are also down to 859 homes pending. This number had been running either slightly over or under 1000 homes.
Our median sales price for Ocala in September was $69.000, showing that our market is still declining. WOW! Unbelievable! What a bargain! And yet the rental market is booming. The smart investors already know this, as 190 of those homes, (well over half ) sold for cash, showing that the investors know a good deal when they see it.
Our inventory is still lower than usual, with 3751 homes on the market, but don’t despair if you are an investor, because the lenders are gearing up again to aggressively go after the homeowners that are not paying their mortgage.
If you are a distressed homeowner reading this, please give me a call and let’s get ahead of the rush. You still have time to get out with the grace of a short sale and avoid the lengthy damage to your credit of a foreclosure.
Overall, this market has a very long way to go to be really healthy again. You have plenty of time to recover your credit and buy at the historic low-interest rate financing again in 2 years or less. If you can sell now, tough it out for 2 years in a rental home or with relatives, you can get a house for a steal, and a fixed rate of interest that will actually make buying a home a real investment. That’s just the opposite of what you have now.
I am just a phone call away at 352-351-5429. Let’s get going! (All calls are confidential.)