Monthly Newsletter
We continue to grow! Please welcome David Williams as our latest addition to the Showcase Team! With 32 years experience in selling real estate, David has a diverse amount of qualifications and experience to assist in any real estate need. From a licensed Florida real estate broker, mortgage broker and a property and casualty insurance broker, you can say David is your “go to” guy in all buying, selling and maintaining of real estate. With today’s market trends, David is also educated in the short sale, foreclosure and 1031 exchange market. A former horse owner, buyer and seller, David specializes in farms, land and commercial properties.
Reflections of Today’s Real Estate Market
U.S. Housing Memorializes 10 Years in the “Lost Decade”
September 2, 2014 – Clear Capital, the premium provider of data and solutions for real estate asset valuation and collateral risk assessment, today released its Home Data Index™ (HDI) Market Report with data through August 2014. Using a broad array of public and proprietary data sources, the HDI Market Report publishes the most granular home data and analysis earlier than nearly any other index provider in the industry.
- 2004-2014 a.k.a. the U.S. housing market’s “lost decade” where national home prices have been nominally unchanged. We’re back to 2004 levels without even accounting for inflation, leaving many homeowners with no more equity than when they bought. This is unusual in the history of the housing market where prices have risen 55% over each rolling 10 year period since 1985.
- If national home price growth continues to diminish, the lost decade will drag out. August home price growth fell 0.4 percentage points from July to 8%, continuing the run of declining yearly gains over the last eight consecutive months.
- The anomaly of the past 10 years has impacted prices and growth but also damaged homebuyer perception. Markets began to heal with investor activity in the distressed and low tier segments. However, disengagement from first-time and move-up buyers-in part a result of low confidence-continues to prolong stagnation. We expect continued moderation, with just 1.8% growth expected through our revised 2015 forecast. The lost decade is gearing up for another year.
However, as we well know, behavior at the nation does not reflect a market-by-market view.
Local Ocala News
MLS data for July sales:
- 572 closed sales- an increase of 10.4% from a year ago
- 4.9% decrease in pending sales year over year
- Average sale price – $147,3586 a decrease of 9.8%
- An decrease of 2.7% of Active Listings
- 6.8 months of inventory compared to 8.4 last year
The July report is available from the Ocala Marion County Association of Realtors (OMCAR) report. Please click on the link for the full 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’s Housing Market: Prices, Inventory Up in July 2014
ORLANDO, Fla. – Aug. 21, 2014 – Florida’s housing market reported rising median prices and increased inventory in July, according to the latest housing data released by Florida Realtors®. Closed sales of single-family homes statewide totaled 22,099 last month, up 5 percent over the July 2013 figure.
The statewide median sales price for single-family existing homes last month was $185,000, up 3.6 percent from the previous year, according to data from Florida Realtor’s Industry Data and Analysis (IDA) department in partnership with local Realtor boards/associations.
Florida Realtor’s Chief Economist Dr. John Tuccillo said, “The July numbers look very much like June’s when each is compared to the prior year. This tends to verify our preliminary view that the market is settling into a stable pattern. I’m asked a great many times about the ‘new normal,’ meaning how the Great Recession changed the housing market. We are now beginning to see that the ‘new normal’ is really the ‘old normal’ with statistical patterns reminiscent of the market that prevailed prior to the frantic run-up of prices.
To see the full statewide housing activity reports, email our office at mailto: frontdesk@showcaseocala.com and we will send you the report.
New & Noteworthy
Website of the Month
Municode
Municode is a free website that has municipal and zoning information for every county and city in Florida. You will find that these codes are available on any platform – desktop, tablet, and mobile.
Until Next Month
Referrals are the livelihood of our business. If you have a friend, family member, or co-worker who would benefit from the Showcase Team’s real estate services, please contact us. We promise to treat everyone with respect and the highest level of integrity and customer service. Your referrals are the greatest compliment that I, and the Showcase team can receive. I thank you for your business and recommendations!