THE END OF THE YEAR IS NEAR!
Here are some great incentives to buy and sell before the end of the year from Realtor.com.
Closing on your new home by Dec. 31 means you can deduct mortgage interest, property taxes and points on your loan on your income tax return. You can also deduct the interest costs associated with a home equity loan. These deductions are significant, especially in the early years of your loan when you are paying off so much interest.
Sellers might be more motivated. Many sellers will also be anxious to sell by the end of the year so that they, too, can enjoy tax savings on the next home they purchase. That means you may have more leverage during negotiations and they may be willing to accept lower than their listing price. However, if you’re in a strong seller’s market, you’ll want to be conservative — and always heed the advice of your real estate professional.
If you’re buying a new house, there’s a good chance builders will be offering incentives. Many builders will throw in nice little extras to sell as many houses as they can by the end of the year.
Generally speaking, your housing choices during the fall are still healthy. By December there are traditionally fewer houses on the market. October and November are great months to go house hunting. Especially Farms. Those involved in the horse industry know that the months preceding HITS are the “hottest” months to sell & buy equestrian property in Ocala.
It’s easier to move. Many moving companies are booked six or so weeks in advance during the busy summer months. In the fall and winter it’s normally easier to secure the services of a moving company or rental equipment on shorter notice.
Home for the Holidays
A new home for the holidays. The holiday season is a great time to celebrate your new home with family and friends.
by Michele Dawson http://www.realtor.com/home-finance/real-estate/buyers/year-end-buying-home-benefits.aspx
Local Ocala News
MLS data for September sales:
498 closed sales- an increase of 7.6% from a year ago
7.7% increase in pending sales year over year
Average sale price – $130,865 a decrease of 5%
A decrease of 3.9% of Active Listings
6.9 months of inventory compared to 8.4 last year
The September report is available from the Ocala Marion County Association of Realtors (OMCAR) report. Please email our office for the report.
If you would like to have information regarding the sale of horse farms, or agricultural land in general please contact me.
News From Around the State
Florida Population is Finally On The Rise Again!
People from other countries and other states are pouring into Florida again, a sign of the state’s recovery from a long period of economic doldrums and slow growth. Recently released U.S. Census numbers show that Florida’s foreign-born population increased by 140,000 from 2010 through last year.
Source: South Florida Sun-Sentinel
Things to Consider When Purchasing Equine Property
For an equine property to be successful it must balance the goals of the owner, the natural demand of the property, and the health, safety and well-being of the horse. There are many things to consider to meet these goals:
1-How will the property be utilized?
Access your end use. Is the residence as important as the actual equine facility to your overall intentions? It’s important to make sure the property fits your growth plan. Work up any estimated financial plans for any improvements and make sure it fits your short term and long term goals. Do your homework! Investigate and find out from your neighbors about the area and any local community growth that may effect your plans like retail or road development or other city planning growth. This may be a deal breaker in the long term.
2-What are the natural characteristics of the location?
Investigate all present challenges with climate, elevation, seasonal changes, soil drainage and basic utility accessibility. Are the wells suitable for a working farm? In the Southeast, proper drainage and run off are key factors to a horse farm and the well being and safety of the horses. It is recommended to retain a professional civil engineer to examine possible situations down the road.
3-What currently exists?
Check with the county to see what steps will need to be done to organize the property the way you envision it. Evaluate what assets or limitations come with the property. What is the tax status and classification? What efforts have to be done on existing structures and any permitting or zoning limitations.
4-Will this property serve my goals and can you maintain it properly?
Determine if the property is suited for your lifestyle and your horses as well. Make sure you have a sound and proper budget to upgrade the property to fit you and your horses needs. Pay particular attention to fencing, water, pasture and manure management. Sturdy and proper horse fencing is a key long term investment and helps with resale value. In Florida, you must consider the BMP’s or Best Management Practices in protecting the local water resources. Improper irrigation techniques not only places stress on water supplies, but can also damage your property and your neighbor’s property by causing erosion, flooding, etc. Uncontrolled animal waste can also be harmful to the water supply long term. A soil evaluation can also be done by your local county extension office to determine better growth and pasture management. All important factors to consider in purchasing your equine property. Again, do your homework!
Source: Field Sport Concepts affiliate John Blackburn, AIA, Senior Principal at Blackburn Architects, P.C. and Southwest Florida Water Management District. watermanagement.org – 1-800-423-1476