Joe Dallorso ~ Ocala Real Estate

Taxes, insurance and deed restrictions are the three big questions that buyers have about Ocala real estate.

Property taxes in Ocala are based on the selling price of the home minus homestead excemptions.

Homestead excemptions are currently $25,000.00. There are additional $500.00 excemptions for widows & widowers, blind persons and permanently disabled persons. There is also a $5,000.00 excemption for permanently disabled veterans.

Everyone asks "what are the current owners property taxes?" In Ocala, that question is irrelevevant because taxes are capped by Ammendment 10.

Ammendment 10: "Beginning January 1, 1995, the assessed value of property receiving Homestead Exemption will be limited in the amount of increase from the assessed value for the prior year. The increase shall not exceed THE LESSER OF 3 percent of the assessed value of the property for the prior year; or the percentage change in the Consumer Price Index (ie: 1995 = 2.7%). " Info from Marion County Tax Appraiser.

Property taxes in Ocala and surrounding Marion county vary from one area to another. The Marion County Property Appraiser has a tax calculator on his web site. Click on Tax Estimator also check out the FAQ for even more info on taxes and excemptions.

For more information about Ocala Real Estate visit my web site.

The difference between a bank foreclosure and a short sale is that the bank has now taken title to the house and is the legal owner. Prices offered by banks can range from great to really mediocre. Banks view their inventory as a whole, looking to hold firm on desirable homes and get rid of those in poor areas or in poor condition first.

There are several big differences between a Foreclosure sale and a traditional sale. In Florida the seller is often asked to make repairs found during the home inspection up to a certain dollar limit set out in the purchase agreement. In a foreclosure the house is sold "As Is with right to inspect".

Foreclosures cross a broad spectrum of the real estate market. You would think they would be mostly new homes lost by speculators but that is not the case. Foreclosures can range from an old mobile home to very large upscale homes.

As in buying any property the only way to determine value is to compare the property to sales in the last 30 to 90 days and active homes that are for sale. In a declining market active listings can be lower than recent sales especially in competitive sub divisions. Don't asume it's the best deal out there just because a house is now owned by a bank.

I like bank owned foreclosures much more than short sales. Ocala Foreclosures offer:

• A listing price set by the bank.
• A quick response to an offer
• A reasonable closing date 30 days
• Sometimes a great price.

I believe that bank sales are just getting started here in Ocala. The whole legal procedure takes months from the time the owner can no longer keep up their payments to the actual changing of ownership. I believe there is a back log out there that will hit the market later this year. I already see more and more bank sales getting listed every day.

If you are interested in foreclosures I can set you up a Listing Cart on the Ocala/Marion county MLS and load every foreclosure in the county into it and you can browse listings in the comfort of your living room.

NEW FEATURE visit my new Ocala Foreclosure Guide

It's April in Ocala Florida. As you probably know I don't actually predict the weather, I just give you an idea of what the weather is like from month to month here in Ocala. The highs are in the mid 80's and the nights are in the low 60's. It is still pretty dry. It's actually the dry season but so far this month we have had quite a bit of much needed rain.

The trees are getting new leaves, the azeale's are in bloom and wild flowers are growing along the sides of rural roadways.

Why are you freezing uo north somewhere instead of living here in Ocala? That's the big question.As always contact me any time for more in on Ocala Real Estate

Wild Phlox growing along SW 80th Ave Ocala Florida

OCALA REAL ESTATE MARKET REPORT
Homes Sold March 2008 ........199*
$100,000.00 or less..........................65
$101 to $200,000.00........................84
$201 to $300,000.00........................27
$301 to $500,000.00........................15
$500,000.00 Plus..............................8
Active Listings as of 4/3/08.......7279**This does not count homes sold by builders that may not be listed on the MLS Number may be revised due to late reports from board of Realtors.

WHAT"S HOT IN OCALA REAL ESTATE
· Homes priced below $150,000.00
· Golf Course & 55+ communities.
· SE Ocala near but not in the Historic district
· New Homes priced at or below $100.00 per sq ft of living area

Sales in March of 2007 were 387 homes. In March of 08 we sold 199!! That's a 49% drop in sales from a year ago. A buyer's market is defined as over 7 months of inventory. We have 36 months.

Prices continue to go down. I think that there is a large back log of foreclosures that will hit the market later this year. Most of these bank properties are located in the Shores, Marion Oaks, Rainbow Park, Rolling Hills, the Hills of Tuscany, Ocala Park Estates & Belleview Park Estates.

Established neighborhoods in the SE and the 55+ communities will hold their value better than most of Marion county. Although older homes that are not in upscale neighborhoods do suffer from out dated floor plans and have a hard time competing with new houses.

Although I think the market will pick up next year, I don't think prices will go back up until we reduce inventory below 3,000 units. When the market does pick up it will be due to the lower prices. We are seeing this already but not many sellers want to participate.

I have seen homes sell in 30 to 60 days in the last month or two. A really well priced home will sell in any market and quickly.

Call me if you'd like to know what it would take to sell your house. Free Ocala MLS search

I moved to Ocala Florida in the summer of 2004 from the western mountains of Maine. I'm very familiar with the long range relocation process. As a matter of fact one focus of my real estate business is helping people like myself move to Ocala from some place that's just too darn cold.

Below are just a few things to consider that someone from a northern climate may not have considered.

If you'd like to know more About Ocala Florida or if you'd like to Search the Ocala MLS drop by my web site or shoot me an email.