Situated in an area filled with scenic countryside, the central Florida city of Ocala has the strength and diversity of a much larger city. Established as the county seat in 1845, the metropolitan area has a very colorful history, however it still is very much in tune with the demands of the 21st Century.

The city’s historic district consists of a lovely neighborhood of tree-lined streets and classical, well-maintained Victorian and Tudor homes and buildings. When one gets to travel around the area, its main areas and surrounding suburbs are now being livened up with the construction of newer housing developments, which have an array of single-family homes, condominiums, apartments and townhouses.

It’s Central Location Makes It Less Prone To Hurricanes

Since the city, and all of Marion County are located in the central part of the state, Ocala is blessed to be nestled in area that is free from the threat of severe hurricanes, and many residents who used to live in the coastal areas are now calling the city home. The growth of Ocala has been a phenomenal one, with the entry of new industries, shopping centers, cafes and restaurants, newer residential projects by national builders like Pulte and DR Horton, additional parks and recreation areas for families, and newer golf course communities.

Activity Is Picking Up In Pending Home Sales

For latest news on pending home sales here, activity is picking up and the number of pending sales on the board is increasing. Many bank-owned properties are fast becoming available, which fuels the surge of increased activity with homes at incredible prices. However for the moment, this may unfortunately have a negative impact on sellers and their asking prices, as some sellers may be forced to put off their move for the time being and wait for better days to sell.

However, local housing analysts are hopeful that home prices will start to stabilize by summer of this year, or maybe sooner. It will take some time for the current inventory levels to drop, so don't count on prices to start going back up until the mid-2009 or early 2010. The positive news is that, if you've been waiting to make your next home purchase, consider this to be payoff time. Waiting for a bit longer will not gain you much at this point, as the most significant price reductions have already occurred, and home prices are now slipping at a slower rate and interest rates are still low.

Home sales in this area are continuing to see flurries of increased activity, particularly now that prices have dropped even further. Pricing your home properly is still important, because if you can't get buyers in to see how great your home is because of your asking price, it doesn't matter if you have done every upgrade you could ever think about. You need to stay in constant touch with your Realtor if you have one, and closely listen to their advice. Although you may not always like what your broker says, however it still helps to consider their advice, which could mean the difference between selling and not selling.

New Construction Rates Are Up Too

For Ocala and its neighboring districts, new construction starts are still relatively slow, however, a number of home builders here have indicated that they are picking up a bit, especially now that inventory home levels are getting low. For builders with inventory homes still available, they have begun to slash prices to the core, which helps to allow home buyers to purchase homes at pre-2005 market boom levels.

Rates are great and if you have been waiting to get that good deal, so many are saying that buyer should make their move now. With builder inventories nearly showing signs of getting depleted, those great deals will soon be gone. As a lot of home developers here have little or no inventory homes remaining, what makes matters more concerning is that pending home sales are growing stronger too, which indicates that the leveling of market prices is fast approaching.