Home sales are on the rise and selling at a rapid pace, not just in Ocala but across the entire U.S. A recent report by the Commerce Department reveals that new home sales jumped 16.6 percent last month to a seasonally adjusted rate of 619,000, up from a revised total of 531,000 in March.
The jump in home sales can be attributed to steady job gains and historically low mortgage rates, making it easier for Americans to break (back) in to the housing market, even with the steady climb of home prices.
Even though downtown Ocala will be losing one of its major tenants with Bank of America, the new expected tenant will hopefully and more than likely be another bank.
The current location is a prime spot, situated just off of the square at Southeast First Avenue and Broadway Street. A bank has been occupying that corner since 1887, so it only seems appropriate that another bank will be moving in.
Areas all over Ocala have undergone redevelopment plans that have successfully revitalized or are in the process of revitalizing parts of town that had previously been neglected.
East Ocala is next on the list for a revamp, right behind downtown, west Ocala and North Magnolia Avenue, all of which have seen drastic change over the last several years. The Ocala City Council will be voting later this month to determine whether or not they will be earmarking property taxes collected from the east Ocala area to be spent only in East Ocala with the goal of improving a dilapidated area.
The winner of the 142nd Kentucky Derby, which took place yesterday, has connections to Marion County. Nyquist was broken and trained in Ocala by Nial Brennan, certainly a proud moment for the city. The three-year-old colt won the $2 million purse race by 1 1/4 lengths in 2:01:31 minutes.
Get ready! Savvy & Company has just added some exciting new technology to their website to make your home and property search even better. Savvy has partnered with HowLoud Inc., a company based out of California that uses their patent-pending SoundscoreTM technology to give a noise rating to a given property.
The long-awaited plans for a new linear park along Osceola Avenue are changing, as mutual agreements could not be met with regards to cost and design. And while the new plan is not what the city originally pictured, the city of Ocala is doing an amazing job given the limitations of Osceola and the train rail that runs along it.
Winding Oaks Farm has over a thousand acres of sprawling land, and plans are about to be made to convert 70 percent of the property to residential, commercial and transportation uses. The remaining 300 acres would continue to be used as a horse training facility.
Ocala’s real estate market is almost perfectly balanced as far as inventory is concerned, with 6.9 months of inventory. However, SummerGlen’s market tells an entirely different story. With home sales averaging only one sold per month and with 73 homes currently on the market, SummerGlen has a whopping 73 months of inventory, making it a definitive buyer’s market.
There is a huge plot of land at the edge of Ocala’s city limits up for grabs, 465 acres to be exact, but whether or not it will be used for land conservation or commercial and residential development is still yet to be determined.
Phoenix Heights is one of Ocala’s newest development projects aimed at redeveloping and renewing the rundown Busbee Quarters, a two-block section of town in West Ocala surrounded by other residential communities. The Phoenix Heights project will assist in the neighborhood’s redevelopment through acquisition, demolition and infrastructure improvements in Busbee Quarters. It will disconnect the current negative image of the neighborhood, and aims to reconnect a sense of place to the surrounding communities.
Get excited, coffee drinkers, because it looks like two new Starbucks stores are likely opening in Marion County.
The company has recently submitted plans for building two new locations in Ocala, including one store in downtown and the other in On Top of the World. While a spokesperson for On Top the World said no plans for the coffee shop had been confirmed, Tampa-based developer Ocean Bleu Group confirmed the plans for South Pine Avenue in downtown Ocala.
Beautiful Ocala was once considered to be home to just endless cow pastures. However, not only is it a great place to live in, but it is also a destination town. It is an ideal spot for anyone looking for a bit of adventure set among rolling hills, a national forest and Silver Springs State Park, which is one of Florida’s oldest tourist attractions.
Strawberry season is upon us, and with so many strawberry farms in Florida, strawberry festivals are an inevitable and delicious occurrence. This past Saturday, March 3rd, marked the Third Annual Habitat Strawberry Festival, which took place at McPherson Government Complex at 601 SE 25th Avenue in Ocala.
Live Oak International will be taking place in Marion County this weekend, marking the prestigious event’s 25-year anniversary. This annual event, which is certainly one of the largest in the equestrian world, features some of the best combined driving teams, attracting top drivers, riders, trainers and coaches from around the country and from 17 nations worldwide.
If you are looking for something to do this weekend in Ocala while taking advantage of this beautiful February weather, look no further. From carnivals to cattle drives, you are sure to find something that fits the bill. And if you prefer to be indoors for a little art and culture, we have got you covered there, too.
With Valentine’s Day quickly approaching, now is the time to get in those last-minute romantic weekend plans.
Downtown Ocala is chock full of art, history, wonderful dining and entertainment. There are so many experiences worth exploring, including Marion Theatre, which offers an old-time movie-going destination, The Wine Experience, which is a great spot for those who like to imbibe, and so much more. The night life, downtown restaurants, and events on the square offer something for all ages to enjoy.
There are some seriously promising market stats for buyers in Bellechase, so, let’s check in with this beautiful neighborhood and see what it’s all about. It is a private, gated community in the heart of Ocala and is home to some of the most magnificent homes in town. Lot sizes start at a 1/4 acre and only go up from there, and home prices typically range from $300,000 to $1.8 million. The neighborhood not only boasts beautiful homes, but an absolutely stunning landscape, as well. The natural beauty of Florida’s foliage is evident throughout the community, with plenty of space for paved walkways allowing residents to enjoy the surroundings.
With only 1.7 homes selling per month on average and 28 homes currently on the market, inventory is high at 16.8 months. With six months of inventory representing a balanced market and greater than six months indicating a buyer’s market, it is evident that we have a buyer’s market on our hands here.
Horse Shows in the Sun, also referred to as HITS, kicked off its Ocala Winter Circuit today at HITS Post Time Farm near Ocala. It is a 10-week hunter/jumper show and attracts thousands of riders and horses each year. The show, which was once only regional, has become one of the largest in the country.
Get your new year’s resolutions on track by shopping local and fresh!
Now that the holiday dust has settled and people are getting back into their routines, local farmers’ markets are resuming their regular schedules, as well, and there is plenty to check out in the new year!
