Recent Foreclosure Activity in Ocala
By Crystal McCall, CDPE,CIAS,ABR,CRS,CRB,GRI,CIPS
(Keller Williams Cornerstone Realty)
The Marion County Clerk's office reported 142 foreclosures for February 2007 up from 107 in February 2006, a 33% increase. One group that seem to be profiting from the sudden influx of homes on the market are the real estate investors who are willing to step in and purchase foreclosed properties at a greatly reduced rate. This increase in failed homeownership may be due in part to the number of sub-prime mortgages which were authorized during the market rise at the beginning of the decade. The recently popularized habit of "flipping" properties (buying property at a reduced rate and selling it right away to make a quick profit) has dropped over 4% between 2005 and 2006. Now many people are stuck with property they can no longer sell and can not afford to hold on to. The Florida Associat...
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