According to Freddie Mac, 30 year fixed rates rose just slightly to 4.23% this week from 4.21% last week.
15 year fixed rates also came up a bit to 3.66% (3.64% a week ago), although the 5-year ARM fell to 3.41% from 3.45% a week ago, while the one year ARM is unchanged at 3.30%.
According to Freddie Mac's Chief Economist Frank Nothaft the flat rates are mostly due to the mixed economic data released this week
Art & Brigitte Shultz
www.TheShultzTeam.com
info@theshultzteam.com
According to OMCAR (Ocala Marion County Board of Realtors) from the end of August of 2009 to September 30th, 2010 the average sales price for residential homes fell from $119,921 to $91,722 for a decrease of 24%. The average list price fell from $128,521 to 97,415 or a decline of 24% for the same 12 months period. The average price per square foot of living area for residential homes fell from $71 a year ago to $57 by the end of September, 2010, for a decrease of 20%. The median sales price fell from $103,500 to 76,700 for the same 1 year period for a decline of 26%.
Our MLS has 5354 active residential listings as of September 30th, 2010, which shows that inventory is down since the end of August, 2010. This is mostly due to several Banks putting a temporary hold on Foreclosures. 244 residential homes sold through the Ocala Marion County MLS in September, 2010, this is a slight decrease of 6% from a year ago. The absorption rate (how many months it would take to sell the inventory at present market levels) fell from 17.7 months a year ago to 17.1 months in September of 2010.
The Ocala/Marion County Real Estate Market will continue to absorb the many foreclosures and short sales. Sales volumes are down, and sales prices are down approximately 25% down from a year ago. With interest rates dropping to new historic lows, we hope to see inventory continue to move at these low levels. If you are a buyer, this is a great opportunity to buy a personal home or accumulate investment properties.
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. Short sales are closing at a faster rate than a year ago. Sellers, if you are struggling financially and having trouble making your mortgage payments, we might be able to help.
Are you facing foreclosure and need to sell your home as 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, 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 the sooner we are able to assist you, the more likely we will 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
The Internal Revenue Service has released instructions and new forms on how to file for the $8,000 first time home buyer tax credit and the $6500 extended tax credit. FULL INSTRUCTIONS
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! *
According to OMCAR (Ocala Marion County Board of Realtors) from the end of December of 2007 to December 31, 2008 the average sales price for residential homes fell from $171,588 to $141,059 for a decrease of 18%. The average list price fell from $183,489to $153,608 or a decline of 16% for the same 12 months period. The average price per square foot of living area for residential homes fell from $107 a year ago to $82 by the end of December 2008, for a decrease of 23%. The median sales price fell from $145,000 to $119,000 for a decline of 18%. Our MLS has 6723 active residential listings as of the December 1, 2008, which shows a significant decrease in inventory. Inventory has been declining since December 2007. 162 homes sold through the Ocala Marion County MLS in December 08, which is an absorption rate of 27 (which means a home would take 27 months to sell at the current rate of sales). Even though we still see negative numbers on the yearly comparison, we definitely see improvement in the decreasing numbers. Our inventory has come down from over 8000 in 2006 to 6723 as of the writing of this article, and we actually have sold more homes in December of 2008, than in December of 2007. Buyer interest is definitely increasing. Interest rates are at an all time low dipping below 5% for a 30 year fixed rate. In my humble opinion, I see lots of signs of having reached or being very close to the bottom. For more detailed statistics or a free market analysis, please call or e-mail us. Brigitte@OcalaVisualTours.com * 352-875-3897 - Brigitte's Cell 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! * - Contact for more details!
800-243-4087 * 352-291-1276
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Art, Brigitte and their dynamic 3-member team offer you guaranteed satisfaction for all your Ocala/Marion County real estate needs and service beyond your expectations! Your Realtors for Life!!!
SHOPPING FOR A COUPLE OF GOOD REALTORS?
Our goal is to connect buyers and sellers. As a seller, we market your home to reach as many potential buyers as possible. Let our 20 years of experience go to work for you.
When you list with us, our service includes an 800# TALKING AD, plus everything else most other agents do (sign, lockbox, MLS computer, real estate book ads, internet exposure, etc.)...
We have one full-time licensed buyer specialists on our team: Mary Colbert. Her job is to help us show your property to our buyers. With such high availability, you are more likely to get into the home you want before someone else can get an offer in ahead of you!
We will share with you the resulting activity feedback in a timely manner, we even have a 24-hour Customer Webpage Login where you can check feedback and activity at ANYTIME with just the click of a button! During your listing period, we also suggest any changes necessary to keep your property competitive in the marketplace. In our never-ending quest to keep you well-informed, you will receive a monthly progress report if you do not have an email address to view your feedback.
We will also take photos of your home and create color flyers for display, along with an in-house "Visual Tour" made available for viewing online & featured on TWENTY-FIVE different websites - that's powerful exposure! If you'd like to know more about our marketing plan, please feel free to get in touch with us...we'd be happy to give you a full presentation and a FREE CMA (Comparative Market Analysis).
We specialize in listing and selling residential median priced homes to luxury estates, horse farms, golf communities, adult, retirement and gated communities, waterfront homes and properties, 1031 Tax Exchanges, Relocations, Investment Properties, Short Sales, pre-approved Short Sales, Foreclosures, Bank Repo Properties, Relocation, Job Transfers, Referrals, Buyer Specialist, etc... With our 3-member team we can offer more than an individual agent ever could!
Testimonials for Art & Brigitte Shultz, The Shultz Team in Ocala/Marion County Florida:
What did you like about working with us? "The personal approach that was used. If you are not serious about selling your home, don't list with The Shultz Team - they move fast! We have already referred family & friends to you."Dwight & Donice Dean
We are so grateful to have had you as our agent through this long ordeal of selling our house. You were so compassionate during all our efforts that it made it more tolerable for us. You are a woman of God and we experinced His love through you often. You lifted our spirits whenever we were discouraged. Many times you helped renew our trust in Lord Jesus because of your quiet assurance.
Thank-you for all you did to bring this to a successful conclusion. Dick and I hope and pray the good Lord will cause our paths to cross again. In the meantime we will pray for you and your family, and encourage you to continue to spread God's love to all you meet.- Dick & Ginny Lacina -
Wendy (Closing Coordinator), I just wanted to say thank-you for all your help during the sale and closure of the house. I enjoyed meeting you and hope we can do business again in the future, you are very professional, knowledgeable and a nice person besides!- Judith Hopkins -
Christine (Listing Coordinator) was very pleasant, did very diligent work and was a joy to do business with.- Samuel Micallef -
"I admire those who can manage and grow a professional, competent business. You all 'have your stuff together.' The moving van was most appreciated. Great follow-up, great attitudes obvious with everyone in the process. Not even the slightest complaint and no recommendation for improvement. Keep it going! I would definately use your services again and will recommed you to friends and family." - Marion & Jacqueline Haggard
We recently sold our home in Connecticut and were looking to establish ourselves in Florida. We had done some previous research for an area suitable for our needs and expectations.
Our first introduction to your real estate office was through your internet site which I found informative and user friendly. We called your agency upon viewing homes of interest on your web site. It was then that we had the opportunity of meeting Mary Colbert (Buyer Specialist), who turned out to be a gem. Mary's knowledge of the industry, her ability to multi-task and her pleasant personality went way beyond anything we had experienced before from an agent. She was able to meet our needs, stuck with us to find the right house without pushing us, although we pushed her to see more homes ourselves. We found our home in three days, moved in with the wonderful perk of the The Shultz Team moving truck and are now starting to live our dream of retirement.
Thank-you Shultz Team and a big thank-you to Mary Colbert. - Dennis & Diane Morzella -
Brigitte kept us 'on course' through a journey which had it's share of unexpected 'turns' - Thank-you for your calming attitude.- James & Judith Bradley -
Donna Berube (Buyer Specialist) had given us plenty of time to show us houses until we found the right one, we would highly recommend your team. - Richard & Barbara Reith
Jamie Shultz (Buyer Specialist) was prompt and friendly. Always returned calls. Jamie went above and beyond. Thanks for a great job. Anthony and Caroline Lombardo
What did you like about working with us? Good communication. My last real estate agent never called me. Mary Sweeney
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