According to Forbes magazine home price are not down everywhere. Actually some cities have made a very impressive turn around from the bottom.  Altos Research examined data in about 8000 cities (who have at least 100 homes listed for sale). Altos posted 10 cities as having the biggest price jump from a year ago.  Read the full story here

Three of the cities mentioned are in California. From past history, California always seems to be a trendsetter, especially when it comes to Real Estate. Personally, I take this as a very positive sign.

Art & Brigitte Shultz
The Shultz Team
Re/Max Premier Realty
Ocala, Florida
Toll Free: 800-243-4087
Direct: 352-291-1276
TheShultzTeam@cox.net
www.TheShultzTeam.com

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! *

The newest addition to the government’s housing-rescue plan may be able to help homeowners having financial difficulties and are in fear of losing their homes to foreclosure.  It includes initiating a standard process and incentives for a Short Sale in lieu of foreclosing. This will simplify their financial issues by starting a process for borrowers to transfer ownership of their home to the mortgage company through a “deed in lieu” of foreclosure. This will benefit the buyer because they avoid “foreclosure” and it will also benefit the lender because they will avoid the high foreclosure expenses and large amount of time it takes to complete the process. This year, Short Sales have increased to 20% of all home sales. Compared to foreclosure, a Short Sale is less costly to the lender, but for the buyer it must be approved and can take up to four months to complete. The government plans to pay mortgage-servicing companies up to $1,000 and borrowers up to $1,500 for completed Short Sales and “deed in lieu” of foreclosure.  These incentives were created to help make this process go faster.

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! *

In December of 2007 Congress signed into law the Mortgage Forgiveness Debt Relief Act. Under regular circumstances, when a lender chooses to forgive all or part of a borrower’s debt, the forgiven amount is considered income and the borrower is liable to be taxed. This law offers relief to the homeowner in that it extends relief for three years, covering debts discharged through calendar year 2012. Amendments have been made to remove tax liability and allow the borrower and lender to work together to find a common and beneficial solution for both parties. This debt relief is limited to primary residences only and the amount of forgiven mortgage debt allowed to be excluded from income tax is $2 million per year.

For more information about the Mortgage Forgiveness Debt Relief Act go to the I.R.S. website.

You can also review our last statistics update for Ocala Florida Real Estate for January 2008

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! *

A fellow Cyberstar, Rob Levy, (a wonderful group I belong to and network with) sent this to me today and I thought it was very educational and fascinating.

Just by moving your mouse over the interactive map you can see what the median house prices are in different cities all over the USA and how much the market has changed from a year ago.

To view the interactive map just click on this link.

Please notice, even though we have been going through a very tough market in Ocala/Marion County, prices in other Florida Cities, like Miami, have dropped a lot more. Personally, our team has noticed a big increase in activity and sales for the last quarter of this year. There are lots of investment opportunities in Ocala, Florida now and local buyers and investors are noticing the great buys.

Look for my Ocala/Marion County market update for October shortly.

Have a great day,

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! * – Contact for more details!