Thursday, April 10, 2008

Ocala Real Estate: Buying Homes In A Healthy & Lush Country Setting

The city of Ocala prides itself with being in the crossroads of Florida. The city is known for its lush rolling green fields, and the large concentration of equine horse arms, which gives it the title of being the "Thoroughbred Capital of The world."

Aside from having a lush green natural setting, the area is also famous for offering residents and newcomers a healthy array of real estate choices to choose from, ranging from affordable bungalows, single-family homes, apartments, town homes, condos and even sprawling estates. The city as well as Marion County also offers residents and visitors many outdoor recreational activities and amenities, with its wide array of parks and recreational facilities.

The County Has A Large Number of Parks And Recreational Centers

Marion County's parks and recreation system has around 45 facilities to offer tourists and outdoor enthusiasts, ranging from boat ramps to softball fields, beaches, nature and conservation areas and even dog parks.

Some of the county's recreational facilities offer free entrance, while some charge a small entrance fee, and many offer annual passes. The Rainbow Springs State Park in Dunnellon has the state's fourth largest spring, and is headwaters are popular destinations for canoing, swimming, snorkeling and kayaking on the Rainbow River.

Is It A Buyer's Market Here Today?

According to real estate industry observers, the median price of homes for the second quarter of 2007 was pegged at $170,900, and this represents a slight increase from the recorded price of $169,500 for the same period last year. The National Association of Realtors also noted a U.S. median home price of $223,800 for the second quarter of 2007, as compared to $227,100 for he same period last year.

For the state of Florida, the median price for the period was $221,200, which was down from $243,300 for the same period last year. According to some local property observers, the area's housing market is still being relatively seen as a buyers market. Sales are off quite a lot when compared to the figures in March 2006, when 614 homes were sold.

There is still a a glut of newly-completed but vacant homes, as these were bought by investors who intended to flip them but have now been caught with houses they can't sell. According to industry watchers there are around 6,869 homes listed on the Ocala Marion County MLS as of the last quarter of 2007. Homes here that are selling, are at present priced and in the mid to lower price range, and well-priced residences are selling close to their asking prices.

So would this be a great time to buy a home here? Some say yes, while some say that it's still too cautious to say yes. It would all depend on you to decide, however be on the lookout for some excellent and wonderful deals out there, since at the moment, interest rates are near historical lows.

Currently, the median price for homes in his city and county are already the 2nd lowest in Florida, therefore there's tremendous potential for home value appreciation over the next several years.



Vanessa Arellano Doctor
Miami Real Estate

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HcoRealEstate said...
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