Joe Dallorso ~ Ocala Real Estate

OCALA REAL ESTATE MARKET REPORT

HOMES SOLD IN February 2009

$100,000.00 and less...........................83

$100,001.00 to $200,000.00.................71

$200,001.00 to $300,000.00.................19

$300,001.00 to $500,000.00...................5

$500,001.00 plus...................................3

TOTAL SALES FOR THE MONTH..............181

ACTIVE LISTINGS............................6,464

Read comments and analysis of my Ocala Real Estate Market Report

March is the beginning of spring here in Ocala Florida. The temperatures during the day are up in the hogh 70's or even low 80's. The air is dry with no humidity. The night time temps go down to the 50's. Lawns that were brown and dormant from the winter start to turn green and the azaleas start to bloom.

If you're sick of another winter up north maybe now is he time to look at homes in Ocala. Prices haven't been this low in years. Selection has never been better. We have the lowest median home price in Florida.

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Attention Ocala first time home buyers. The federal government wants to help you to buy a house with a first time buyers tax credit. Home prices in Ocala had dropped dramatically from the high prices of 2006-07. Interest rates are at historical lows. Foreclosures in Ocala are down right cheap! If all this wasn't enough now you can get a tax credit too.

Here's the important stuff.

• First time buyers only but this means that you haven't owned a house in the last 3 years
• It's a tax credit and not a deduction. That means the entire amount goes back to the first-time buyer unlike deductions, such as mortgage interest, that are subtracted from your gross income. So if you qualify for $8,000, you get $8,000, even if they would not owe that much in taxes. Yes, this means if you don't owe $8,000- in taxes the IRS will send you a check.
• Income limit: A married couples' modified adjusted gross income should be under $150,000 and single filers' should be less than $75,000.
• The tax credit applies to homes purchased between Jan. 1, 2009, and Dec. 31, 2009.
• The tax credit can be claimed on 2008 income tax forms even though the purchase took place in 2009. Theoretically a buyer could close on a home the same day that the president signs the bill into law, fill out their income tax forms the next day, and receive their tax credit.
  

These are just a few of the major points effecting Ocala first time buyers tax credit. More info below.

Many first time buyers in Ocala are looking at forecloues.

Ocala Foreclosure Guide

Let me begin by recapping the weather for the month of January. It was crazy cold last month with some days as much as 20 degrees below normal. High temperatures in January are supposed to be in the low 70's. This year temperatures were in the 50's and 60's most of the time. I had people who have lived in Ocala their entire lives tell me this is one of the coldest winters that they can remember.

Hopefully February will bring more seasonal temperatues back. We should be in the 70's most dqays and the 50's at night this month. Let's hope so.

Interested in living in Ocala? Ocala MLS search

Camellia flower

SW Ocala

January 09

OCALA REAL ESTATE MARKET REPORT

HOMES SOLD IN December 2008

$100,000.00 and less...........................72

$100,001.00 to $200,000.00.................101

$200,001.00 to $300,000.00..................21

$300,001.00 to $500,000.00..................10

$500,001.00 plus...................................5

TOTAL SALES FOR THE MONTH..............209

ACTIVE LISTINGS..............................6,663 CAMELIA SW OCALA JAN 09

** Only homes listed & sold on the Ocala Marion county MLS. Does not include For Sale by Owner or Builders not listed on the MLS. Numbers subject to change due to late reports from Brokers.

Sales for December were pretty good. Most closings in December were from offers made 30 to 45 days previously and do not reflect the holiday season.

The big news is that for the first time in a very long time inventory began to decline. We are finally under the 7,000 units mark and hopefully we will go much lower.

It is an incredible buying opportunity here in Ocala. Don't miss out!!