Ocala’s Market Bottomed?/ Bank Of America Agrees

Rhonda Buckner with Buckner Homes Realty at 3200 SE 20 Ave, Ocala, Fl 34471 352-266-2637
Ocala Short Sale Specialist has great news for buyers.
Looks like the bottom is here. Even the banks are agreeing. Every market is different but Marion County has had prices increasing on homes showing a stabilizing market. Read comment from Bank Of America and watch the video. Call Rhonda with questions.

Bank of America Merrill Lynch’s economics team declared that housing prices have hit bottom earlier than they expected.Today, Michelle Meyer—a senior economist and housing specialist for the team—told Bloomberg TV that while it’s “a big call for the timing, it’s not a big call for the trajectory.”

“We do think that home prices are in the process of bottoming right now, but we do think that it’s going to be a very bumpy bottoming—one that lasts through the end of next year, and then you start to see home prices turn higher in 2014.”

Ocala’s Market shows 62% of the sales are under $100,000 still with 25% of them Under $50,000.
What I am seeing is the foreclosures are coming onthe market slowly but surely. All the foreclosure banks have done 4 appraisals on the property and know the value. They put the home on the market under market value and expect multiple offers.
Short sales are still out there. They are coming onthemarket and quickly getting offers. I listed one Friday and had an offer Saturday for example. You can get some great deals on short sales. They do take time 2-3 month minimum.
Fha has changed their rules again and making it harder to get a loan. I have a great lender that has many other programs available. You can got to www.startmyloannow.com to start the approval process. Fill out the questionaire and Rick Durham will give you a call back.
As always if you have any questions regarding real estate, foreclosures, short sales, market updates, anything call Rhonda 352-266-2637 , Buckner Homes Realty 3200 se 20 Ave, Ocala, Fl 34471