Gainesville FL Real Estate Blog

Given the lengthy and heated debate going on about the country’s debt, this may well be a good time to think about your personal debt philosophy and/or situation.   While it’s almost impossible to live debt-free, it is important that we analyze and manage our loans; we all have seen in recent years the economic repercussions of taking on too much debt, both nationally and individually.  Experts say that ideally your total monthly long-term debt payments should not exceed 36% of your gross monthly income, but the real challenge is to judge which debt makes sense and which does not.  Economic advisors suggest that you first recognize that some of your obligations are considered good debts, whereas some might fall into the category of bad debts. 

Good debts are those which can be looked at as investments and those which will contribute to your overall financial health.  The best example of good debt has been for many years the purchase of a Gainesville FL home and is still considered as such by many.  Another good debt would include a student loan to finance higher education.   Financing a car is also perceived as good debt provided that you make as large a down payment as you can reasonably afford and that you intend to keep the vehicle as long as you are paying for it. Generally speaking, good debt includes the purchase of items which you could not afford without wiping out your cash reserves or liquidating your investments.

On the other hand, bad debt occurs when you borrow to purchase a consumable item without fully comprehending the influence of that purchase on your financial well-being.  Excessive credit card use is an excellent example of bad debt, especially given the high interest rates charged.  One obvious flaw in the credit card system is that it encourages users to purchase things they can’t really afford, a posh vacation or the addition of a pool for their Gainesville FL home  e.g., without having to pay for them at the time.  It goes without saying that payday loans and paying pawn shop interest are very poor—and costly—practices which should be avoided entirely.

How to manage your debt?  You can begin by figuring out your credit utilization or your debt-to-credit ratio, which tells you how much you have borrowed of the total amount available to you.  The lower the percentage, the better for your credit rating.  Creating a plan to pay off your bad debts, especially those with high interest rates, is another important step in achieving financial stability.  Many financial counselors urge borrowers to pay off credit cards and car loans before considering taking on student debt or a mortgage for a Gainesville FL home.  Another strong caveat is not to pay off one loan with another, such as using a home equity loan to repay bad debt.  The best practice is to use cash to pay off debt.  One way to increase your available cash is to analyze your spending pattern and carefully monitor unnecessary expenses.  Other suggestions for managing debt include taking steps to lower household bills, refinancing a mortgage for a lower interest rate, and requesting a reduced rate of interest from credit card companies.
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There were 1,187 Alachua County and Gainesville FL foreclosure homes in November, 2011 according to RealtyTrac.com. The average foreclosure sales price was $75,115 compared to an average sales price of $135,086, a $56,971 savings. 1 in every 594 housing units received a foreclosure filing in October.

Alachua County & Gainesville FL Foreclosure Foreclosure Activity and 30 Year Interest Rate

Gainesville interest rates averaged 3.99% in November while the number of foreclosed homes dropped from 219 in October to 195 in November.

Alachua County foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or bank repossession – each month. Interest rate is based on the average 30-year fixed rate from Freddie Mac Primary Mortgage Market Survey.

Alachua County & Gainesville FL Foreclosure Geographical Comparison

The number of Alachua County and Gainesville FL foreclosures were equal to national statistics and 0.11% below state figures in November 2011.

Alachua County & Gainesville FL Foreclosure Activity by Month

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Yes, we’ve reached the end of what has been a difficult year for so many, and yet we’ll celebrate the coming of 2012—and a fresh start– with glittery hats, silly horns, champagne (or beer), and kisses at midnight.  We’ll reflect on the old year and make resolutions for the new one.  Forecasters of the future will capture our imaginations as we wonder what is to come in terms of scientific discoveries, political unrest, wars, health issues, and the economy.  So many questions—and so many possibilities…it’s enough to wear one out.  So sit back in the den of your Gainesville FL real estate, relax, and ponder these points.

• Did you know that celebrating the New Year is a tradition that dates back nearly 4000 years? Or that Julius Caesar was the first person to designate January 1^st as the start of the new year?
• Did you know that the symbol of Baby New Year dates back to ancient Greece? The Greeks marked the rebirth of their god of fertility by parading a baby around in a basket.
• 40 to 45 percent of American adults make one or more resolutions which include weight loss, exercise, quitting smoking, and money management. By the second week of January, 25 percent of people have abandoned their goals, however.
• Certain foods play an important role in the kitchens of Gainesville FL real estate on New Year’s Day.  Circular foods such as donuts and cakes represent good fortune, while legumes, especially black-eyed peas and lentils, promise good luck and wealth.  Cabbage and other greens whose leaves resemble folded money are also popular, as is ham, which symbolizes progress and prosperity. 
• As with many other holidays, numerous superstitions and traditional practices are connected with the onset of the new year.  It is thought that the first visitors to your Gainesville FL real estate will bring you good or bad luck, depending on who you keep as friends and enemies, and in Italy people wear red underwear on New Year’s Day as a symbol of good luck for the upcoming year.
• And as for the future of Gainesville FL real estate?  Opinions vary from the cautiously optimistic to those far less rosy, with many financial gurus still sitting on the fence.  Oh, for a crystal ball!
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A recent survey by Houselogic.com, the consumer website from the National Association of Realtors®, finds that jobs and the housing market will be two of the most important issues for voters in the 2012 election. Nearly one-third of respondents said housing will be the top issue on their mind when they head to the polls next November.

Respondents were asked “What issue area will have the greatest impact on your vote in 2012?” National security, healthcare, and energy/environment trailed housing and unemployment by wide margins:

• Jobs/unemployment – 54 percent
• Housing – 27 percent
• National security – 8 percent
• Healthcare – 4 percent
• Energy/Environment – 2 percent
• Other – 4 percent

With unemployment still high, it is easy to see why so many Americans are concerned about the job market. However, employment and the housing market are inextricably linked because economic growth and job creation cannot occur without a housing recovery.

Now take a look at how the Gainesville FL real estate market performed in November.

The Gainesville FL area single family home sales saw pending sales increase by 11% when compared with October 2010 numbers.  Sold listings decreased by 7%, while new listings decrease by 5%.  The average sales price decreased by 7% to $170,926, while market times decreased by 1 days or 1%.

The Gainesville FL area Condo/Townhome market saw sold listings increase by 11% in October 2011 when compared to October 2010.  Pending sales increased by 12%, while new listings decreased by 3%.  The average sales price decreased by 12% to $69,483 when compared to October 2010, while the average market times increased by 114 days or 38%. 

Search all Gainesville FL real estate and Gainesville FL homes for sale.

Linda Luetjen assists buyers looking for Gainesville FL real estate for sale and aggressively markets Gainesville FL homes for sale.

She understands the purchase of any Gainesville FL home represents not only one of the largest and most significant investment a person can make, but also a decision that affects the entire life of a family. It should be handled with all the care and attention such a significant transaction deserves. You may rest assured that Linda never forgets this. Her reputation depends on your satisfaction.

For more information about buying or selling your Gainesville FL home, please call Linda toll free at 888-424-8841 or via email with our convenient contact form.

Here are some sensible travel tips for you…

While many people choose to stay in—or close to—their Gainesville FL home during this busy season, a large number of folks travel via plane, train, or car to celebrate with family and friends.  To maximize holiday travel happiness and minimize coal-in-the-stocking disappointment, follow these basic but helpful tips compiled by ASTA (American Society of Travel Agents) as they reveal secrets that will help you and your family arrive at Grandma’s house full of holiday cheer.

Before leaving:

• Packing light saves time and energy when it comes to filling the trunk with fragile bags packed with gifts or racing to fill the last empty space in the overhead bin.
• Be sure to secure your Gainesville FL home. Lock all doors and windows, and don’t forget to set the alarm.
  Also, give your home that lived-in look to repel potential burglars by having a friend collect your mail, setting lights on timers, and omitting details of your trip on the answering machine.

Air travel:

• If possible, have a friend drive you to the airport, or take a shuttle or public transportation.
• Take the worry of getting to the airport completely out of the equation by staying at an airport hotel the night before an early flight.
• As flights are sometimes overbooked during the holidays, it’s critical to check in early. Domestic travelers should arrive at the airport at least two hours prior to departure, while international travelers should arrive at least three hours in advance.
• Remember that delays can occur. Bring water and snacks, an inflatable pillow, a good book, your favorite CDs, MP3 player, and a deck of cards to help pass the idle time.

Car travel:

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There were 1,119 Alachua County and Gainesville FL foreclosure homes in October. 2011 according to RealtyTrac.com. The average foreclosure sales price was $109,678 compared to an average sales price of $149,937, a $40,259 savings. 1 in every 516 housing units received a foreclosure filing in October.

Alachua County & Gainesville FL Foreclosure Activity and Home Price Index

Home price appreciation remained was 0.0% in October and the number of new foreclosures totaled  219.

Alachua County foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or repossession notice – each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records.

Alachua County & Gainesville FL Foreclosure Geographical Comparison

Alachua County and Gainesville FL foreclosures were 0.01% above national statistics and 0.18% below state figures in October 2011.

Alachua County & Gainesville FL Foreclosure Activity by Month
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There were 1,219 Alachua County and Gainesville FL foreclosure homes in Sept. 2011 according to RealtyTrac.com. The average foreclosure sales price was $109,678 compared to an average sales price of $156,392, a $46,714 savings. 1 in every 852 housing units received a foreclosure filing in September.

Alachua County & Gainesville FL Foreclosure Activity and Home Price Index

Home price appreciation remained was 0.0% in September and the number of new foreclosures totaled  136.

Alachua County foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or repossession notice – each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records.

Alachua County & Gainesville FL Foreclosure Geographical Comparison

Alachua County and Gainesville FL foreclosures were 0.05% below national statistics and 0.15% below state figures in Sept. 2011.

Alachua County & Gainesville FL Foreclosure Activity by Month

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