Ocala Florida Closed Sales By Finance Type
Starting in 2007 Conventional Loans were the primary way homes were purchased in Ocala Florida and cash purchases were about half.? In 2008 we start to see conventional loans and cash purchases equaling out.? FHA starts to get more popular in 2008.? In 2009 Cash purchases were on the rise and conventional loans were starting loose steam.? FHA purchases started to climb.? In 2010 cash was king.?? Conventional loans started to die while FHA loans stayed steady.?? In 2011 we see a small spike in cash purchases while conventional loans stayed on track with 2010.?? We see more activity with owner finance and VA loans in 2011 than in past years.? For 2012 cash purchases?seem to be staying steady while FHA looks to be slowing down.?? Throughout 2007 to 2012 we see very little activity when it comes to lease purchase.
What you should take away from these satistics is how financing impacts the real estate market in a good or bad way.?? Conventional loans in the past allowed 5% down whereas today 10% to 20% is required.? There was a time frame I believe in 2009/2010 when?you had to put 20% down on a conventional loan because?private mortgage companies would not insure in Florida. ? FHA loans went from 3% down to 3.5% and their private mortgage insurance increased.? Why has cash been so popular. ? More than half the homes sold in Marion County in 2012 sold for 80K and under.?? When the lending market tighten up prices started to drop.? Our ?unemployement in the area ?impacted?the price drop. ??Ocala?s Market seems to be steady in prices at this time.?? We can see from 2010 to 2011 sales have increased and prices have lowered from looking at the second chart below.? These charts are for sales in our residential market not our farm market.? Click on the charts to make them larger
If your looking to sell or buy?a home in Ocala Florida give me a call at 352-553-3369 ? Dawn Rupersburg Coral Shores Realty where your best interest is my number one priority.? Ocala Florida Real Estate
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