Gainesville FL Real Estate Blog

In 2003 the Federal Housing Authority, fearful that house flipping was causing skyrocketing home prices, discontinued the approval of property loans that were sold within 90 days. In 2010 that agency instituted a one-year suspension (due to expire on January 31, 2011) of that regulation. However, in an effort to continue stabilizing house values and improve conditions in communities experiencing high foreclosure activity, the FHA announced an extension of the “anti-flipping” waiver through the rest of this year.

FHA Commissioner David Stevens cited the continued need for investors of Gainesville real estate to use FHA-insured financing to purchase HUD-owned or bank-owned properties or properties resold through private sales as the reason for the extension, thus allowing quick sales to stabilize Gainesville real prices and revitalize negatively-impacted neighborhoods and communities. Stevens went on to point out that “since the waiver first went into effect in 2010, the FHA has insured more than 21,000 mortgages worth over $3.6 billion on properties resold within 90 days of acquisition.” He also stated, “Because of past restrictions, FHA borrowers have often been shut out from buying affordable properties. This action enables our borrowers, especially first-time buyers, to take advantage of this opportunity and buy a home that has recently by rehabilitated. It will also help to move more foreclosed properties off the market and reduce the number of vacant homes in neighborhoods throughout the country.” Stevens also acknowledged that, because of the tightened credit market, FHA-insured is often the only means of financing available to potential homebuyers.

To protect the buyer/investor of Gainesville real estate, the waiver includes strict conditions and guidelines to assure that predatory practices are not allowed and is limited to those sales in which the following terms are met:

• All transactions must be arms-length, with no identity of interest between the buyer and seller or other parties participating in the sales transaction.
• In cases in which the sales price of the property is 20 percent or more above the seller’s acquisition cost, the waiver will only apply if the lender meets specific conditions.
• The waiver is limited to forward mortgages, and does not apply to the Home Equity Conversion Mortgage (HECM) for purchase program.

Gainesville Real Estate For Sale:

707 SW 75th Street, Gainesville FL 32607

MLS# 313918

This is a great unit in great shape.  It has a new A/C unit in 2006 (still under 10 yr warranty).  This unit has new appliances in the kitchen and new toilets in the bathroom.  There is lots of square footage for the money.

Learn more about 707 SW 75th Street and other Gainesville real estate for sale by visiting GatorHomes.com and MyGatorCondo.com.

Search all Gainesville real estate for sale.

Buyer’s often find themselves watching a property for a price reduction. Although getting the best deal possible when purchasing Gainesville real estate is important, it is not the only factor that determines monthly payments on a home. Rising interest rates nearly diminish the positive aspects of waiting for prices to drop. 

Most people are familiar with the basic trends in real estate that have been affected by the United States economic crisis. The listing prices of homes have been steadily declining over the past couple years. This has put people looking to purchase Gainesville real estate at an advantage over those trying to sell. People have best described this as a buyer’s market due to the low property prices and reasonable interest rates. However, the decline in prices is stabilizing while interest rates are beginning to inch up. It is becoming more and more popular for investors to make offers on properties, sometimes sweeping the property away from home buyers. Could buyers begin loosing their advantage? Today, properties that are correctly listed at a reasonable asking price are not being reevaluated and reduced as often. These are some of the factors that prove lower Gainesville real estate prices are not always worth the wait. 

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According to Realestate.com, buyer’s remorse is one of the top ten mistakes made when purchasing Gainesville real estate. Finding the perfect home and making the decision to buy a home are not easy tasks. First, you spend hours on the computer researching Gainesville real estate and neighborhoods, perfecting your search criteria on MLS websites, and viewing many virtual tours.  Then, you begin making appointments to go take a look at the ones you think stand a good chance at being the future home of your family. As you walk through the house you envision the happy life you and your family would live and the future décor for this room and that room. You see houses that “require too much work,” “don’t have enough storage,” ones that are “too small” or maybe even one that is “do-able but not perfect.” Finally after weeks or even months of searching, you find “THE house.” Now you send in a promising offer and anxiously wait for feedback. You and seller come to an agreement and the offer is accepted. Once the papers are signed you can relax and enjoy the excitement, right?

Wrong! Shortly after signing the agreement many people experience buyer’s remorse. When a person begins to have feelings of doubt about their decision it is known as buyer’s remorse. The feelings of doubt are also accompanied by stress and anxiety. What if this is not the right decision? Am I getting a fair deal? Is this the right house for me and my family? What if there is something better out there? Questions start invading the committed buyer’s mind causing them to become hesitant and loose confidence in their decision. This worrisome state of mind, known as buyer’s remorse, is becoming more common in purchasing Gainesville real estate.    

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Congress has voted to extend the current higher Fannie Mae, Freddie Mac and FHA loan limits through 2010. The present loan limits would expire at the end of 2009 and revert to previous lower limits. The higher limits, along with the home buyer tax credit extension, are necessary to keep the markets moving at this critical time,” said National Association of Realtors President Charles McMillan.

“Home sales have shown significant movement upwards in the past six months and reduced inventory in some segments of the housing market, but not in all. Home purchases in the middle-income and higher brackets have not moved much, and those markets must improve before we can experience a fully sustained housing recovery. These higher loan limits will help motivate qualified home buyers to purchase in those markets,” McMillan said.

Let’s look at Gainesville real estate sales  for October to see how the housing recovery is progressing locally. 

Gainesville Real Estate Sales - Single Family

The Gainesville FL area single family home sales saw a 12% increase in sold listings in October 2009, when compared against October 2008.  New listings saw an increase of 13%.  Pending sales saw a 47% increase and the average sales price decreased by 15% to $179,867, while market times increased by 57 days.   

Gainesville Real Estate Sales - Condo/Townhome

The Gainesville FL area Condo/Townhome market saw the average sales price decrease by 5% to $128,926 in October 2009 compared to October 2008.  While new listings were up 6% and sold listings increased by 13% in October 2009.  Pending sales increased by 19%, while the average market times increased by 98 days. 

For the latest Gainesville real estate market conditions in your area, please call me at 888-424-8841 or visit MyGatorCondo.com.

According to Realestate.com, buyer’s remorse is one of the top ten mistakes made when purchasing a home. Finding the perfect home and making the decision to buy a home are not easy tasks. First, you spend hours on the computer researching Gainesville real estate and neighborhoods, perfecting your search criteria on MLS websites, and viewing many virtual tours.  Then, you begin making appointments to go take a look at the ones you think stand a good chance at being the future home of your family. As you walk through the house you envision the happy life you and your family would live and the future décor for this room and that room. You see houses that “require too much work,” “don’t have enough storage,” ones that are “too small” or maybe even one that is “do-able but not perfect.” Finally after weeks or even months of searching, you find “THE house.” Now you send in a promising offer and anxiously wait for feedback. You and seller come to an agreement and the offer is accepted. Once the papers are signed you can relax and enjoy the excitement, right?

Wrong! Shortly after signing the agreement many people experience buyer’s remorse. When a person begins to have feelings of doubt about their decision it is known as buyer’s remorse. The feelings of doubt are also accompanied by stress and anxiety. What if this is not the right decision? Am I getting a fair deal? Is this the right house for me and my family? What if there is something better out there? Questions start invading the committed buyer’s mind causing them to become hesitant and loose confidence in their decision. This worrisome state of mind, known as buyer’s remorse, is becoming more common in purchasing Gainesville real estate.   

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Gainesville Real Estate For Sale:

3826 NW 26th Street, Gainesville FL 32605

MLS# 307941

Nice home with 3 bedrooms and 2 bathrooms located in the convenient Walnut Creek Subdivision. This home offers a spacious master suite with his and hers closets and a luxurious master bath. Great location situated near schools, shopping and entertainment.

Learn more about 3826 NW 26th Street and other Gainesville real estate by visiting GatorHomes.com and MyGatorCondo.com.

Search all Gainesville real estate for sale.

Gainesville Real Estate For Sale:

6331 NW 38th Terrace, Gainesville FL 32653

MLS# 306133

Very well maintained and lovely home in great subdivision.  Price is under appraisal.  Please try and give owner some notice prior to showing to allow best results.  Owner is offering buyer warranty and closing cost.  This home is a must see!  Owner is in the process of replacing sod in front yard.

Learn more about 6331 NW 38th Terrace and other Gainesville real estate by visiting GatorHomes.com and MyGatorCondo.com.

Search all Gainesville real estate and homes for sale.

Gainesville Real Estate For Sale:

717 SW 75th Street, Gainesville FL 32607

MLS# 302299

Completely remodeled 2/2 condo in Sparrow. This unit was completely updated last year. The small pass through window in the kitchen has been opened up and a bar top installed. This unit is also located on the parking lot with a private rear entrance into the courtyard. This is one of the few units in Sparrow that has washer dryer hookups. Owner will consider lease with option .This unit is for sale or for rent, whichever comes first. Sellers wife is a licensed real estate agent.

Learn more about 717 SW 75th Street and other Gainesville real estate by visiting GatorHomes.com and MyGatorCondo.com.

Search all Gainesville real estate and homes for sale.

Gainesville Real Estate For Sale:

5170 SE 31st Street, Ocala FL 34471

MLS# 306541

Nice Quadraplex located in Whispering Sands area. Each unit has 2 bedrooms and 1.5 baths. There is plenty of parking.  This home is located near shopping and entertainment. Great potential for rental income.

Learn more about 5170 SE 31st Street and other Gainesville real estate by visiting Gatorhomes.com and MyGatorCondo.com.

Search all Gainesville real estae and homes for sale.