Fannie Mae announced the end of last week that it will offer to pay for closing cost up to 3.5% of purchase price or appliances of the same value on purchases of foreclosed homes in its inventory. Read the full story here:

Art & Brigitte Shultz
The Shultz Team
#1 Team at Re/Max Premier Realty
Ocala, Florida
Toll Free: 800-243-4087
Direct: 352-291-1276
TheShultzTeam@cox.net
www.TheShultzTeam.com
* FREE OCALA MOVING TRUCK WHEN YOU BUY OR SELL THROUGH THE SHULTZ TEAM! *

If you have wondered how the extension of the Home Buyer Tax Credit is affecting pending home sales read this report.

Art & Brigitte Shultz
The Shultz Team
#1 Team at Re/Max Premier Realty
Ocala, Florida
Toll Free: 800-243-4087
Direct: 352-291-1276
TheShultzTeam@cox.net
wwwTheShultzTeam.com
* FREE OCALA MOVING TRUCK WHEN YOU BUY OR SELL THROUGH THE SHULTZ TEAM! *

Buyers have less than 4 months to take advantage of the new and expanded Federal Tax Credit. The deadline to have a home under contract is April 30, 2010, the closing date cannot be any later than June 30th, 2010.

I also want to point out that there is no requirement to sell your current residence now – or ever. Only properties priced up to $800,000 qualify for the tax credit.

Art & Brigitte Shultz
The Shultz Team
#1 Team at Re/Max Premier Realty
Ocala, Florida
Toll Free: 800-243-4087
Direct: 352-291-1276
TheShultzTeam@cox.net
wwwTheShultzTeam.com
* FREE OCALA MOVING TRUCK WHEN YOU BUY OR SELL THROUGH THE SHULTZ TEAM! *

According to OMCAR (Ocala Marion County Board of Realtors) from the end of November of 2008 to November 30, 2010 the average sales price for residential homes fell from $122,690 to $106,149 for a decrease of13%.  The average list price fell from $132,100 to 112,947 or a decline of 14% for the same 12 months period.  The average price per square foot of living area for residential homes fell from $81 a year ago to $66 by the end of November, 2009, for a decrease of 19%.  The median sales price fell from $118,500 to 84,500 for the same 1 year period for a decline of 29%.

Our MLS has 5674 active residential listings as of the December 29th, 2009, which shows that inventory is still holding steady.  243 residential homes sold through the Ocala Marion County MLS in November 09, this is an increase of 36% from a year ago. The absorption rate (how many months it would take to sell the inventory at present market levels) fell from 32 months a year ago to 18.5 months in November of 2009.

The Ocala/Marion County Real Estate Market will continue to absorb the many foreclosures and short sales. Sales volumes are up, but pricesthe approval of the extended and new tax credit are approximately 13% down from a year ago. With interest rates still at an all time low and we expect to see inventory continue to move at these low levels.

Want to get in on the great opportunities this buyer’s market has to offer?  Check out our article on Tips For Buying Distressed Properties for great comprehensive information on what to look for when buying a foreclosed or short sale home.

Are you facing foreclosure and need to sell your home for a short sale (selling the property for less than what the current mortgage amount is)?  The Shultz Team are experienced Short Sale Specialists and are more than happy to assist you in selling your property under stressful circumstances. With an aggressive marketing plan, great communication and fully staffed office, we are ready to help save your home and credit from foreclosure.  Feel free to contact Art & Brigitte Shultz to discuss your situation and start a plan to save your credit TODAY – the clock is ticking and sooner we are able to assist you, the more likely we are to have a successful closing.

For more detailed statistics or a free market analysis, please call or e-mail us.
Info@TheShultzTeam.com or call us direct at 352-291-1276

Art & Brigitte Shultz
The Shultz Team
#1 Team at Re/Max Premier Realty
Ocala, FL
Toll Free: 800-243-4087
Direct: 352-291-1276
Info@OcalaVisualTours.com
www.OcalaVisualTours.com
* FREE OCALA MOVING TRUCK WHEN YOU BUY OR SELL THROUGH THE SHULTZ TEAM! *

It is a buyer's market

There seems to be a general sentiment in real estate of putting 2009 in the past and looking forward to a brighter 2010 – and Ocala, Florida is no different.  Looking at where we are and where we are headed as far as real estate goes will take us from the present into the future.  Taking a look at the market, home values are currently affordable, prices being at an uncommon low and interest rates bottoming out have made more homes available for more families than years before the real estate boom.  Both of these low levels add up to the fact that it is a great time to be a buyer when it comes to real estate – the deals are out there!

One trend that will only be available for a limited time is that interest rates have been hovering at 5% or lower for the better part of the past year, which cannot be expected to continue.  As the market stabilizes more and the economy gets better, interest rates will rise just as they have in the past.  While home prices still may drop in many areas of the country (including some areas in Marion County, FL), they will not drop much more.  Areas that are less affected by foreclosures, short sales and REO properties are likely to level out faster than other areas due to the lack of distressed sales in their inventories.  A rise in interest rates may bring real estate prices down to sell but the days of 20% and 30% decreases appear to be unlikely.  It is mostly hinged on distressed properties in an area which are competing with sellers who cannot compete with such low prices.  Some homeowners may not be able to sell until the market shows this stabilization.

The low down is that now is a great time to buy if you have been waiting for the right time to plunge into the market.  Take advantage of low interest rates, tax breaks and seller/bank incentives while they are here.  Just as it was a seller’s market a few years ago – it is a buyer’s market now, but just like the seller’s market, it won’t last forever.

For an interesting analysis of the real estate conditions and a forecast of 2010, feel free to contact The Shultz Team.

If you are thinking about selling your home, or would just like to know what a buyer would be willing to pay for it in today’s market, feel free to get in touch with us to request a free market analysis, we are more than happy to assist you.

You can email us at Info@TheShultzTeam.com or call us direct at 352-291-1276.

Art & Brigitte Shultz
The Shultz Team
#1 Team at Re/Max Premier Realty
Ocala, FL
Toll Free: 800-243-4087
Direct: 352-291-1276
Info@OcalaVisualTours.com
www.OcalaVisualTours.com
* FREE OCALA MOVING TRUCK WHEN YOU BUY OR SELL THROUGH THE SHULTZ TEAM! *

Buyer's Keys To Success

One of the biggest issues in the great real estate bubble bursting was the lack of realization that you should only own a home in which you can reasonably afford.  If there is one thing we can take from the mess of the real estate meltdown it is the importance that there is a vast difference in purchasing the home you want and purchasing a home you can afford.  It is the great American dream of owning your home and of course we aspire to “move up” in life, but to get a grasp on your current finances is vital. The days of no-doc loans (short for “no document loans” where you merely had stated income and were approved, now loans must be verified to a lender before they will consider you as a potential borrower) and leveraging your assets to the hilt are gone (mortgage companies will only allow a certain percentage of equity to be used on the home – not all of it, so there is no more 100% financing or maxed out home equity loans).  In today’s real estate market it is more important than ever to borrow what you can afford.  Emergencies pop up such as temporarily being unemployed, injury, death in the family – your finances should still be able to float you during these times, not be a means to an end on you being able to afford your mortgage payments.  Keeping a reasonable cushion is key.

According to an article at Yahoo Real Estate, “Mortgage lenders generally use a ratio of 36 percent as the guideline for how high your debt-to-income ratio should be. A ratio above 36 percent is seen as risky, and the lender will likely either deny the loan or charge a higher interest rate. Another good guideline is that no more than 28 percent of your gross monthly income goes to housing expenses.”

Keeping the percentage at 28% or lower can only improve your financial situation.  Take a good hard look at your finances, look at your income and look at your expenses, both fixed and other spending habits.  This is what locks you into place when you get pre-approved for a mortgage.  A lender will not justifiably give you a loan if your debt is higher than your income or you have poor credit (unpaid or delinquent debts, bankruptcy, foreclosure, etc).  The most important thing is to be honest with yourself, and be educated about the local economy.  One of the biggest problems with homes in the central Florida area was that buyers were purchasing properties that they really did not have the ability to pay once the adjustable rate mortgages kicked in.  In Marion County in particular there is not a large pool of executive positions to be placed in – so understanding what is available in the local job market is also very important.  In the long run you and your bank account will be better off for being realistic.

What can you afford?

The senate and the house voted overwhelmingly yesterday to pass legislation to extend and expand the home buyer tax credit. President Obama is expexted to possibly sign it as early as today.

1. The $8,000 tax credit for first time home buyers will be extended through 4/30/2010.

2. Now repeat buyers who owned their present home 5 out of 8 previous years now qualify for a $6500 tax credit as long as they pruchase between 12/01/2009 and 4/30/2010. The legislation limits eligibility to homes worth up to $800,000.

3. As long as buyers have a binding contract by the end of April, they will have an additional 60 days to close the transaction.

4. Income limits will be expanded to $125,000 for a single person, $225,000 for couples filing jointly.

5. This legislation will take effect December 1, 2009 and is not retroactive, and both credits are only available for primary residences.

Art & Brigitte Shultz
The Shultz Team
#1 Team at Re/Max Premier Realty
Ocala, Florida
Toll Free: 800-243-4087
Direct: 352-291-1276
Info@OcalaVisualTours.com
www.OcalaVisualTours.com
* FREE OCALA MOVING TRUCK WHEN YOU BUY OR SELL THROUGH THE SHULTZ TEAM! *

Oak Run Golf & Country Club, Ocala FL

Oak Run is a wonderful active adult golf community located in Southwest Ocala, Florida, a classy gated neighborhood with so much to offer.  This place literally has it all and what a place to retire to – everything right in the community complete with 24-hour gated security, 18-hole championship golf course, 9-hole executive golf course, 6-acre training facility, two golf clubhouses, pro-shops, six recreational facilities with indoor & outdoor swimming pools, hot tubs, Roman spa, fitness centers, tennis, shuffleboard, bocce ball, library, auditorium, restaurants and too many activities, hobby clubs & enthusiast clubs to mention!

Oak Run Community Pool

This beautiful subdivision has a variety of homes & lot sizes to meet your specific needs.  You can’t beat these amenities and Oak Run boasts several different recreation areas convenient to all community members.

Oak Run Swimming Pool

The Orchid Club is nestled in the middle of a 10-acre park-like setting – enjoy yourself indoors & out!  Complete with fitness center, card game & meeting rooms, billiards, arts & crafts, ceramic studio and library.  This great hot spot also sports an auditorium – sit with friends and enjoy movies, plays, musical performances, gala dances with live bands, bingo, etc…  accommodates over 1,000 individuals, perfect for large gatherings & community events!

Oak Run Hot Tub

The Island Club is for all of you water-lovers out there – boasting three “specialty pools” that include a lap pool, an aquacizing pool and a lounge pool – not to mention the lovely elevated sundeck for you to soak up that gorgeous Florida sunshine.  So, no matter what your level of swim intensity is, you’re sure to find it at the Island Club!  We cannot forget to mention the luxurious Roman spa and inside the clubhouse is a convenient meeting room.

Oak Run Golf Course View

The Aquatic Sports Club is the place for year-round water enjoyment and exercise!  Always in season, the indoor heated swimming pool not only has open swimming but there are also work-out sessions as well.  Want to catch up on the latest buzz?  You’ll hear it all on the large sundeck outside!

Oak Run Tennis Courts

The newest addition to Oak Run is the gorgeous Palm Grove Club – with 30,000 square feet of space and packed with special features – including dedicated health center, aerobic room & yoga room, multi-purpose center for social events, large stage for theater presentations, tropical pool area, Jacuzzi spa and lots of space to lounge.

Oak Run Fitness Center

Royal Oaks Golf Club is one of the most outstanding features of the Oak Run community.  Luxurious lush golfing grounds in tune with nature make for a spectacular golfing experience!  Part of the Audubon system, the preserved grounds, majestic granddaddy oaks, wild birds,  manicured courses and pristine Florida ambiance make this a picturesque setting that will have you at the top of your game…  Enjoy the 18-hole Champion golf course, or hit it up for a quick nine anytime at the Executive Golf Club with 3-9 courses.  Ready to kick it up a notch?  Sharpen your skills at the 6-acre 6-hole practice facility and get with a PGA pro for lessons and fittings to help get you that edge…  Done with the game and ready for an elegant gourmet dining experience?  Perhaps you need a great breakfast to get you going?  You cannot miss the Royal Oaks Members’ Dining Room which serves breakfast, lunch & gourmet dinners.  Enjoy panoramic views of the golf courses as you dine in style…  If golfing is not your thing – but fine dining is, you can still enjoy good times with friends here with your social membership.   Two pro-shops will have you geared up and ready to go on your golfing experience!

Oak Run Shuffleboard

Ready for a Virtual Tour of Oak Run?  Let us show you around Oak Run right from your computer!

Oak Run Virtual Tour Video

Thinking about moving to Oak Run?  Please feel free to fill out our Dream Home Finder and let us look FOR YOU, allow us to sort through all the active listings, send you property information and schedule showings.  If you live in Oak Run and are thinking of selling, feel free to contact us for more detailed statistics or a free market analysis, please call or e-mail us.

You may email us directly at: Info@TheShultzTeam.com or call us anytime at 800-243-4087.

Art & Brigitte Shultz
The Shultz Team
#1 Team at Re/Max Premier Realty
Ocala, FL
Toll Free: 800-243-4087
Direct: 352-291-1276
Info@OcalaVisualTours.com
www.OcalaVisualTours.com
* FREE OCALA MOVING TRUCK WHEN YOU BUY OR SELL THROUGH THE SHULTZ TEAM! *

If you are a First-time home buyer and qualify for the $8,000 tax credit, but don’t have the money for a down payment or closing costs, you may now be able to get a loan to help with those upfront costs.

On May 29 the U.S. Department of Housing and Urban Development (HUD) announced that FHA (Federal Housing Administration allows state housing finance agencies to “monetize” (provide second mortgage) the tax credit so that home buyers are able to use the funds towards closing costs and down payments for the purchase of an FHA-insured mortgage.

Previously home buyers were only able to use the tax credit after filing their federal tax returns and had to come up with the upfront costs on their own.

The U.S. Department of Housing and Urban Development announced that FHA-approved lenders may purchase the tax credit from the borrower in advance, so that the home buyer can use the tax credit for closing costs or to make an additional down payment, over and above the required 3.5% minimum down payment that is a requirement for an FHA-insured loan.

For families who would like to take advantage of today’s low interest rates, rock bottom prices, huge selection, this is really great news. Since this tax credit is only available until November 30, 2009, this could help a lot of families who cannot save enough money for a down payment and closing costs.

In addition to the 160,000 sales expected as a result of the tax credit,  the NAHB (National Association of Home Builders) estimates that 40,000 more homes will be purchased due to the FHA monetization program.

Visit the website of the National Council of State Housing Agencies (www.ncsha.org) for a list of states offering First-time home buyer tax credit loan programs.

For more information on the First-time home buyer tax credit go to Tax Credit.

Feel free to review the Ocala Florida Real Estate Statistics for May of 2009.

To see what Ocala Real Estate is selling for visit our website www.OcalaVisualTours.com

Art & Brigitte Shultz

The Shultz Team
#1 Team at Re/Max Premier Realty
Ocala, FL
Toll Free: 800-243-4087
Direct: 352-291-1276
Info@OcalaVisualTours.com
www.OcalaVisualTours.com
* FREE OCALA MOVING TRUCK WHEN YOU BUY OR SELL THROUGH THE SHULTZ TEAM! *

California usually leads the way for the economic health of our nation. New research from the state with the biggest residential property market shows signs that the housing market could start to rebound very soon. View story here.

You can also review our last statistics update for Ocala Florida Real Estate for April 2009.

Having difficulty in these economic times?  Facing foreclosure? If you are in need of help of saving your home from the foreclosure process, please give us a call.  We are Short Sale Specialists and may be able to save your credit from the tarnish of a foreclosure.  Don’t wait – the sooner we can help you, the better!

For more detailed statistics or a free market analysis, please call or e-mail us.
Info@TheShultzTeam.com or call us direct at 352-291-1276.

Art & Brigitte Shultz
The Shultz Team
#1 Team at Re/Max Premier Realty
Ocala, FL
Toll Free: 800-243-4087
Direct: 352-291-1276
Info@OcalaVisualTours.com
www.OcalaVisualTours.com
* FREE OCALA MOVING TRUCK WHEN YOU BUY OR SELL THROUGH THE SHULTZ TEAM! *