Wacky rural Ocala real estate prices (Micanopy: for sale, homes, to live in)

[tallrick]

It always amazes me how expensice Ocala property is. Many old run-down farms that have 20-30 acres are bought by mentally ill people from up north for close to a million dollars. What I cannot figure out is how that property can be worth so much. Do they get that much money from horses, or is there something I am missing here? I have several friends in the Ocala and Micanopy area and what they tell me boggles the mind. The "farms" are full of Mexican farm labor that is paid poorly, and they cut corners like the owners are dirt poor. Yet property prices remain stubbornly high. What in the world goes on here?

[Slowcala]

I have lived here in Ocala for 9 years, and one thing I can tell you is that many legitimate horse businesses are moving to Kentucky. Many are fleeing there for cheaper land with better paying jobs. Think about it, who ever heard of the Florida Derby?

[Racelady88]

Originally Posted by Slowcala

Think about it, who ever heard of the Florida Derby?

Horse people have heard of the Florida Derby http://www.horseswild.com/resource/florida-derby.php

[Slowcala]

The question was laced with rhetoric, just to let you know.

[KathyA11]

Originally Posted by Slowcala

I have lived here in Ocala for 9 years, and one thing I can tell you is that many legitimate horse businesses are moving to Kentucky. Many are fleeing there for cheaper land with better paying jobs. Think about it, who ever heard of the Florida Derby?

Rhetoric or not, many people have heard of the Florida Derby,which is a legitimate prep for the Kentucky Derby. The Kentucky Derby gets the attention because it's the first of the three Triple Crown races (two of which are not run in Kentucky).

BTW, the last Triple Crown winner, Affirmed, was bred in Florida....

[JohnVosilla]

Tons of listings in the area of 10+ acres for under $150k. I doubt many are improved land in the prime areas of horse country..


Ocala, FL, Real Estate Listings and Ocala Homes for Sale - REALTOR.com®

[Slowcala]

Rhetoric and sarcasm . . I guess I hit a nerve. :P

[Racelady88]

Originally Posted by Slowcala

The question was laced with rhetoric, just to let you know.

I know, but being a horse person who is considering a move to Ocala I just couldn't resist.

[wacahootaman]

Prices were bid up to crazy levels during the real estate bubble.

They have fallen back a lot but are still double what they were in many instances before they took off.

One of the reasons that they are so high in certain areas is that there is a lot more demand to live in these areas than there is a supply of realistic sellers.

In the prime horse areas of Marion county there are very few small lots for sale as there are few big developments like in the south half of the county so the seller has a better micro market than is normal for the state.

There are some comparative good deals popping up though but they sell quickly.

[tallrick]

Someone recently bought a run-down dump on 23 acres for 1,000,000.00 in "reddick" which I would assume is "prime" horse country. Those buildings look like a Florida cracker built them during the depression from storm debris. I almost moved to Marion county years ago, but thought it was too far away, and that 85,000 was a bit high for a wooden shack on 20 acres. That was after hurricane Andrew though. The reason I backed out is that I assumed there was not much opportunity for career advancement there.