Buying A Property In Ocala? Some Advice
This year's US mortgage slump has done significant damage, not just to investor confidence, but on the psyche of the individual homeowner and potential home buyer as well. However, as the housing inventory throughout Florida's Marion County increases, it appears that this area's local property market is becoming a buyer's market.
According to the Ocala/Marion County Association of Realtors "it's a shift in the local market". The Ocala/Marion County realtors group says that it will be interesting to see real estate numbers in a few years which will better reflect market activity void of speculators who entered the housing market in 2005. The group further notes that they are are seeing a shift to more positive consumer confidence than in the past
Ocala Offers A wide Variety Of Housing Options
Marion County, including the city of Ocala, offers homes in a variety of price ranges, which go from starter homes to luxurious upscale estates and mansions. "Ocala is a unique place for those looking for a starter home or those wanting a second or third home," notes the Ocala/Marion County Association of Realtors.
Where Home-Buyers Could Start Looking For A Home
Most local realtors and mortgage brokers suggest that newcomers and potential homebuyers try stopping by the local Chamber of Commerce office for getting relevant info on available homes and price ranges . Local experts say a wealth of information is available to help home-buyers make the search easier. In addition to getting the services of a local realtor of choice and getting referrals from friends and associates, analysts suggest that home buyers drive around the area and learn how to navigate through the city.
Ocala Hosts Yearly Housing Events
Every year, several home events take place in Ocala, and these are done to expose potential buyers to area builders. Perhaps two of the area's biggest events are the annual spring Parade of Homes and the Fall Showcase of Homes. The Marion County Building Industry Association sponsors both events. In these home events, homes generally range from the more affordable single-family home of just over $100,000, to luxury-priced homes ranging over $500,000.
New Growth Areas In Marion County
According to the Marion County Building Department, the housing boom in the county, like most of central and south Florida, is being driven by retirees relocating from harsher northern climates, and growing employment opportunities. The building department notes it appears that residential construction activity has stabilized and will return to a steady increase by the fall of 2008.
"Most indicators that would enable a healthy local new home sales market are positive; such as low interest rates, lower cost of construction products and services, strong commercial construction activity, and baby boomers reaching retirement age," the building department notes. "Overall we are optimistic that the new home market in Marion County will be healthy over the next 12 to 24 months."
For this year, the State Road 200 corridor and Marion Oaks generated the largest amount of residential building permits - 46 percent - according to the county building department. The next growth area seen is the south U.S. 441 corridor and the southeast section of the county, which generates some 30 percent of the area's residential building permits.
Share this: