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Old 02-25-2009, 07:38 PM
 
75 posts, read 220,023 times
Reputation: 48

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Hi, from reading other posts, I get the impression that real estate prices are still climbing in Ocala. Is this true? From looking at one Realtor's website in Ocala, it looked like housing prices were low, at least compared to where I live in Illinois. But, the Ft. Myers area has a huge foreclosure, bank owned housing market. Home prices there are dropping like crazy.
I sure don't want to buy anything in Ocala if the housing market is on the verge of crashing like it has at Ft. Myers. Any thoughts? comments? on this situation would be appreciated. Also I am interested in Ocala since it is horse country. Besides the Equestrian Center in Ocala, anyone have a name for other equine boarding/training/event centers where I could board my horse, watch events and trainers work horses? Peace.
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Old 02-25-2009, 09:08 PM
 
Location: SummerGlen,Ocala,Fl
24 posts, read 143,022 times
Reputation: 18
Rising home prices? Surely you jest. You must be referring to rising unemployment.
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Old 03-03-2009, 10:11 AM
 
30 posts, read 183,163 times
Reputation: 12
Not that I have seen either. The housing market has crashed statewide so best bet is to pick where you want to land. Ft Myers is more sensitive due to the hurricane threat. Builders just built like crazy before the bubble and now a good number of them are gone but the homes are left behind.
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Old 03-04-2009, 12:18 PM
 
Location: Ocala, Florida
174 posts, read 626,387 times
Reputation: 67
Home prices are def. not rising in Marion/Ocala...they are surprisingly resilient but no...not rising.
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Old 03-14-2009, 07:04 AM
 
Location: SummerGlen,Ocala,Fl
24 posts, read 143,022 times
Reputation: 18
In today's Star Banner they list the closing prices for the past few weeks. There is a home in SummerGlen that closed for $115,050. The asking price was $102,000 so I suppose that is a rise. Of course it was a foreclosure that dropped to around 150K, then to 122K, then to 102K. Original purchase price in 06 was 186K I believe.

There are many great deals out there right now.

In Del Webb CC a great big house had a foreclosure price of 399K and last week they dropped it to 299K.

Reminds me of that old song, "these boots are made for walking" and that is what upside down people are doing.
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Old 03-14-2009, 09:38 AM
 
Location: Ocala, FL
67 posts, read 238,024 times
Reputation: 41
Quote:
Originally Posted by jjinfla View Post
In today's Star Banner they list the closing prices for the past few weeks. There is a home in SummerGlen that closed for $115,050. The asking price was $102,000 so I suppose that is a rise. Of course it was a foreclosure that dropped to around 150K, then to 122K, then to 102K. Original purchase price in 06 was 186K I believe.

There are many great deals out there right now.

In Del Webb CC a great big house had a foreclosure price of 399K and last week they dropped it to 299K.

Reminds me of that old song, "these boots are made for walking" and that is what upside down people are doing.
I see resales, new...never lived in, at prices way below the listling price of "new" units that are the same model. Would it make sense to buy new? or are the new units being discounted to compete with the "new resales"?
Do these "new resales" carry the same warranty as new units?
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Old 03-15-2009, 02:16 PM
 
Location: Championsgate, Fl
986 posts, read 3,549,070 times
Reputation: 291
Alot of builders have reduced their prices to compete with resale properties, simply because that is their competition and they have no choice. Also keep an eye out as i know from personal experience that if an agent you are working with has sold alot of properties from a builder, then the builder offers certain incentives aswell. This is great for the buyer as it means you get a little more. You diffinatly need to research which type of home guves you the best bang for your buck, whether new or resale is the way to go for you and your families particular circumstances, and ask your realtor or if your looking to engage a realtor, ask your realtor if they have any existing relationship with builders and what types of incentives have they been offering for their clients.

Good luck

Quote:
Originally Posted by sprintrps View Post
I see resales, new...never lived in, at prices way below the listling price of "new" units that are the same model. Would it make sense to buy new? or are the new units being discounted to compete with the "new resales"?
Do these "new resales" carry the same warranty as new units?
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Old 03-31-2009, 03:01 PM
 
88 posts, read 371,878 times
Reputation: 59
Although I'm not particularly fond of Ocala in general...when the real estate market "crashes" here in Florida...Burn your money.
I'd say overall things are dead even...further north Jacksonville may have more distressed properties.
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Old 08-22-2009, 10:51 AM
 
18 posts, read 33,318 times
Reputation: 30
As long as there are so many short sales and bankrupt properties keeping real estate prices down and falling, there will be no recovery in the housing market. This applies to everywhere in the country. If you think prices for homes and condos are cheap now just wait another year or so. Even when prices stabilize, it will take years before housing prices are at todays level. If you don't have to sell then you are OK but if you do have to sell in this market it is a tragedy. Many more short sales and forclosures will be happening in the coming months. This is just terrible for sellers but a great opportunity for qualified buyers. If we have what is called a "Jobless Recovery" then the housing market will take longer to stabilize. The great majority of real estate sold now are still short sales and forclosures so news saying sales are up is giving false hope to private homeowners. Speculators are back in the Market so this may help to shrink the number of forclosures for awhile. Until people have some confidence in the Economy and stop being scared to make a major purchase like a home, there will be no recovery.
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Old 08-22-2009, 11:23 AM
 
Location: Palm Coast, Florida
236 posts, read 900,645 times
Reputation: 138
When you are looking to buy from a builder in this area, or I'm sure any other area, make sure the builder is not in or close to filing bankruptcy. If they are, they do NOT have to honor their warrantys.
I speak from personal experience, Mercedes Homes has filed and they did no repairs after they said that they would. Why wasnt I surprised!?
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