10 Fundamentals About phuket property You Didn't Learn in School

Posted by Keith on June 10th, 2021

There have been movements seen, however, which indicate a slowdown in the reduction of home prices. With the housing market here showing directions of hitting the bottom, and as the mortgage slump affects all aspects of the housing industry, real estate market observers are saying that now would be a good time to phuket property purchase new homes, as interest rates are still pegged at one of their lowest levels.

Current Home Construction Figures For Ocala

Based on current data provided by local property market veterans and county building officials, new construction rates are still slow at present; however, a number of property developers and builders are indicating that they will slowly pick up the pace and will continue to build homes this year.

Home builders here are still seen offering great incentives to buyers, which would include paying your entire first years HOA fees, taxes and insurance, closing costs, and some even offer buyers bonuses such as home appliances, lawn mowers, appliance upgrades and more. This move is indicative of being the perfect time to ponder on make a home purchase. In addition, new home builders have also drastically reduced pricing on inventory homes, in order to lessen the number of unsold home inventories these days.

Home Resales Statistics For The City

Home resales figures in the Ocala and Marion County have continued to see increased activity, particularly today that prices have slid even further. Many home sellers now seem to realize that the prices of 2005 are history, and if they will not be aggressive in pricing their homes, they may truly be wasting their time and investment. Each year, thousands of new residents are attracted to this area , lured by the region's healthy economy, excellent quality of life, diverse recreational activities, pristine environment, and the wide array of shopping opportunities.

The number of residents coming to this city, and county, makes it among the three fastest growing areas in the nation. The county's welcoming atmosphere makes transitions easy, and the wide array and affordability of housing options ensures that the types of homes here will suit every home buyer's preference, lifestyle and budgets.

Located 80 miles north of the Greater Orlando Metro area, Ocala is considered by many to be a wonderful place to live and call home. The county is famed for having lush rolling green fields, horse farms, wooded forests, lakes, springs and rivers.

For residents here, outdoor living is a daily activity for many, as the county is home to a host of fishing, boating and outdoor sports enthusiasts. Residents here also have easy access to top-notch medical facilities, shopping centers, industries, arts and culture venues, historical landmarks, and lots of parks and forest areas. It also has a lot of affordable housing options that offer a wide inventory of homes to choose from.

- Ocala Real Estate

A few years ago, the real estate bubble had not yet emerged. Instead, there was a more flat, tempered housing market where home values were not rising at the pace experienced after the boom and subsequent bubble. That was then.

This is now.

Unlike the trend home buyers and sellers observed associated with an economy propped up by quickly increasing home equity values, the opposite is now the case. In fact, some might argue that the downhill ride back to more stable home values has been, and will continue to be, a steeper more painful slope than the angle at which the economy first rose. According to an article written by Michael Carliner at Bloomberg.com, homeowners might end up having homes underwater for a number of years:

"Rebounds in housing have typically been driven by declines in mortgage rates. Not this time. Rates on a 30-year mortgage have dropped to about 4.5 percent - the lowest since the early 1950s - with little effect. Tax credits and other programs to encourage buyers have provided only a modest, temporary boost."

It's difficult to determine the bottom of this particular downward housing economy, but it's safe to say that sellers with homes for sale might benefit by sitting through the continuing drop. While speculative property investors may not enjoy this option, primary residence homes can take advantage of an eventual pricing rebound once the economic bottom is finally reached. And while you're waiting, there has simply been no better time than now to take advantage of the lowest prime lending rates ever. Here's a breakdown of the latest loan rates indicated by the Mortgage Bankers Association as mentioned at MarketWatch:

"The refinance share of mortgage activity increased to 81.4% of total applications from 78.1% the previous week," the group said, which is the highest refinance share observed since January 2009.

The group also said that the average contract interest rate for 30-year fixed-rate mortgages increased to 4.60% from 4.57%, with points increasing to 0.92 from 0.89 for 80 percent loan-to-value ratio loans. The effective rate also increased from last week."

Apparently, it also appears that the MBA (Mortgage Bankers Association) is appreciative of the U.S. Senate's efforts to stabilize FHA multifamily and single family loans. However, the core overlying challenge facing the overall economy is that it is 1) artificially propped up by real estate prices; and 2) struggling to offset the naturally declining real market values with bonified, long-term service sector and manufacturing jobs.

Now that we're facing a very possible, very real double-dip recession, homes for sale will do nothing but make the downhill ride much, much faster. Imagine a bicycle without brakes.