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SELLING in Today's Real Estate Market
If you are looking to sell your home in today's real estate market you must look at the whole real estate
market picture. The market is stabalizing in Marion County, so you need to price your property accordingly. Look
to a Realtor to provide you with real estate market facts that can assist you with the pricing of your home.
No, we are not seeing the market appreciation that we all witnessed the past couple of years in Marion
County. But, look what we paid for property in the past years. A couple of years ago, you could find a 1/4
acre property for $1000 to $5000, depending on the area. 1 acre parcels were being purchased for as low as $5000, and
you could pick-up over 3 acres for $40,000 in Dunnellon, Belleview and Ocala. You could purchase a single-family
home for less than $100,000. People were taking advantage of the low prices, buying, buying, and buying.
Driving the market up, up, up! Interest rates were low, and everyone took advantage of the buying opportunities.
How long could this buying frenzy last? It lasted until the prices were pricing buyers out of the market, interest rates
started rising, taxes and insurance skyrocketed, and gas prices peaked. If you were one of the many sellers that
took advantage of the peaked home and land prices, pat yourself on the back! Those days are gone, and now we are back
to a stabalized market. Actually, a healthier market. Remember back when homeowners were happy with a 5 -
10% yearly equity gain on their properties? Sellers took there profits and were able to up-size and keep the
same or close to the same payment, or down-size and have money left over. Would you make that return in the bank?
Would you of saved that amount on a yearly basis if you did not have a property that appreciated? Real Estate is still
a GREAT investment.
Florida’s Existing
Home Market in September 2006: Sales Down, Median Price Softens
ORLANDO, Fla., Oct. 25, 2006 -- Florida's housing sector continued to adjust to a more sustainable pace of sales in September
with many markets reporting higher inventory levels of homes for sale; however, still-low mortgage rates also sparked buyer
interest. A total of 13,485 existing single-family
homes sold statewide last month, a decrease of 34 percent from the 20,451 homes sold during the previous September, according
to the Florida Association of Realtors® (FAR).
Statewide, the existing-home median price slipped 1 percent to $243,900 last month; a year ago, it was $246,100, according
to FAR. In September 2001, the statewide
median sales price was $134,000, representing an increase of about 82 percent over the five-year period, according to FAR
records. The median is a typical market price where half the homes sold for more, half sold for less. Nationally, the median sales price for existing single-family homes was $225,700
in August, down 1.7 percent from a year ago., according to the National Association of Realtors® (NAR). In California, the statewide median resales
price was $576,360 in August; in Massachusetts, it was $352,000; in Maryland, it was $317,738; and in New York, it was $271,350. Real estate is cyclical in nature, housing industry analysts
note, and current market conditions arrived after five years of record-level growth. The U.S. housing
market is showing signs of life and sales may be leveling out, according to NAR's latest market outlook, which expects
2006 to be the third strongest sales year on record nationally. Sales activity should pick
up early next year, given a positive economic backdrop of lower interest rates and job creation, says NAR Chief Economist
David Lereah. Looking to Florida's
existing condominium market, sales of existing condos also decreased in September, with a total of 3,819 condos sold statewide
compared to 6,930 in September 2005 for a 45 percent decrease, according to FAR. The statewide median sales price for condos
last month was $201,900; a year ago, it was $215,500 for a 6 percent decrease. The national median existing condo price in
August 2006 was $223,200. According to Freddie
Mac, a 30-year fixed-rate mortgage averaged 6.40 percent last month, up from 5.77 percent in September 2005. FAR’s sales
figures reflect closings, which typically occur 30 to 90 days after sales contracts are written. Among the state’s larger markets, the Miami metropolitan
statistical area (MSA) reported 769 existing homes sold last month compared to 872 homes sold a year ago for a 12 percent
decline. The market’s median existing home price remained flat at $371,700; a year ago, it was $371,200. A total of
666 existing condos changed hands in Miami in September for a 40 percent decrease over the 1,106 condos sold
the previous year. The market's median existing condo price was $270,800; a year ago, it was $269,200 for a 1 percent
increase. "Prices are slowly trending down," says Pat Dahne, chairman of
the Realtor Association of Greater Miami and the Beaches and broker-owner of Pat Dahne Realty Group. "As real estate
professionals, we need to remind people that real estate is a long-term investment. Miami has many positive economic factors that continue to attract buyers -- for example, job growth from international
business, continued interest from foreign investors and continued growth in our immigrant population." Of the state’s smaller markets, the Pensacola MSA reported
a total of 466 existing homes sold in September compared to 564 homes sold a year earlier for a 17 percent decline. The area’s
median existing home sales price rose 3 percent to $167,900; a year ago, it was $163,400. Thirty-seven existing condos sold
in the MSA last month for a 35 percent decrease from the 57 condos sold a year ago. The market's median existing condo
price was $212,500; a year ago, it was $185,000 for an increase of 15 percent. "Our white-sand beaches are some of the most beautiful in the world and this area is just a
great place to live," says Auby Smith, president of the Pensacola Association of Realtors and broker with Real Estate
Counselors Inc. "Interest rates are still good, so there are many attractive financing plans available for buyers. Plus,
many builders are offering great incentives, as are sellers of existing homes, which are drawing buyers to the market. Our
prices remain attractive and that's making a difference." Charts showing statistics for Florida and its 20 MSAs are attached. One chart compares the volume
of existing, single-family home sales and median sales prices in September 2006 to September 2005, based on Realtor transactions
within the MSAs. The other chart compares the volume of existing condo sales and median sales prices in September 2006 to
September 2005, based on Realtor transactions within the MSAs.
Single-Family
pdf html Condominium pdf html The Florida Association of Realtors,
the voice for real estate in Florida, provides programs, services, continuing education, research and legislative representation
for its more than 155,000 members in 68 local boards/associations. FAR's Media Center Web site is available at http://media.living.net. © 2006 FLORIDA ASSOCIATION OF REALTORS®
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Lots and Land for Sale
Rainbow Lakes Estates --- 1/4 acres starting
at $20,000 Rainbow Lakes Estates
--- 1 acres starting at $30,000 Rainbow
Acres --- 1 acres starting at $45,000 Rolling Ranch Estates --- 1/4 acres starting at $23,000 Rolling Hills --- over 1 acre lots starting at $65,000 Golf Park --- over 1 acre lots starting at $119,000 Belleivew Heights Estates --- 1/4 acre lots starting at $20,000 Call
Susan Ledbetter to see all the land buying opportunites we have to offer! 352-553-2342 Home 352-233-0146 Cell HomesBySusan@aol.com
| Click Here to View Vacant Land |
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LAND FOR SALE
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Dunnellon Land Buying Opporunities
If you are looking to build or invest in land, Dunnellon might
be your choice! Dunnellon is a small town, just 13 miles west of Ocala. Dunnellon offers a small town, county
setting with a new Super Wal-Mart, Winn-Dixie, restaurants, banking, and only a hop, skip, and a jump to the famous Rainbow
River. You can enjoy boating, floating down the river in a tube or raft, fishing, and nature walks. RAINBOW ACRES
is a small subdivision across the street from the Rainbow River and the Rainbow Springs State Park. You can purchase
1 acre parcels for as lot as $45,000 on paved roads, and with a tons of new homes under construction. This community
is zoned for site-built homes only, no mobiles. RAINBOW LAKES ESTATES offers 1/4 acre lots starting around $20,000 and
1 acre lots starting around $30,000 on paved roads, again with tons of new homes under construction. There is a new
Lowe's possibly going up next to the Super-Walmart on Hwy 41 just minutues from Rainbow Acres and Rainbow Lakes Estates.
These prices will not last, don't miss this great opportunity to own a piece of Central Florida.
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