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Ocala Real Estate – How The County’s Robust Economy Is Helping The Housing Market

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For prospective home buyers who are looking at the Ocala area as a future destination, the city and the county as a whole offers home buyers a healthy array of housing options to choose from. Available housing options in Marion County range from traditional neighborhoods, gated villages, condominium developments and sprawling retirement communities.

Prospective home seekers in search of a home can truly find it all here. In districts like Silver Springs Shores and Marion Oaks, there are older, more established residential developments that are still experiencing robust growth, and there are also newer subdivision developments like Fore Ranch and Heath Brook.

The County’s Economy Remains Relatively Robust

Marion County’s economy has had its share of highs and lows over the recent years, however most analysts are optimistic that it will remain to be relatively strong. Two factors are noted to fuel the county’s continuing economic upswing: Technology and a stable manufacturing base were noted to be the major aspects in the Milken Institute’s recent move to rank Ocala as 2007’s top city in the nation for job growth.

Unlike many other Florida metropolitan areas, Ocala greatly depends on the manufacturing sector, where Lockheed Martin’s circuit-board facility is a major contributor, the institute reports. The city’s high-technology sector is growing too, and Lockheed Martin continues to build missile control systems in its local facility, and Intellon is expanding its line of integrated circuits into new products. The county also continues to attract new manufacturing jobs from other areas as well.

The Region Is a Favorite Spot For Setting-up Retirement Havens

The southern parts of the county are also home to a section of the large Villages retirement community, as well as other retirement villages that have sprung up recently in the area. Located west of the State Road 200 corridor, a retiree hub with On Top of the World, and Oak Run are situated here, along with other retirement destinations.

The county building department has indicated that housing growth in Marion County, like most of central and south Florida, is largely being driven by retiring baby boomers who are relocating from colder northern climates, and also the area’s growing employment opportunities. The county building department notes it appears that residential construction activity will return to steady levels by the fall of 2008.

Finding Better Ways To Offer Affordable Housing Programs

In order to effectively serve the needs of the low and middle income housing segments, the county has began to offer many innovative affordable housing programs for income eligible households.

These affordable home programs include the State Housing Initiative Partnership or SHIP, as well as the Community Development Block Grant or CDBG for home purchase or renovation outside of the city limits of Ocala. According to the county Property Appraiser, 6,812 residential units have been sold in Marion County so far this year. In comparison, 13,314 sales were processed in 2006.

For new and second home buyers, the city of Ocala offers a wide range of housing choices to choose from. Local property brokers here would be more than glad to give you a guided tour of existing and new developments in areas like Silver Springs Shores, Marion Oaks, Rainbow Lakes Estates, Rainbow Park, Woods and Lakes and others. Home options here include new Homes and estates, starter homes, luxury estates, and farms as well. – Ocala Real Estate


Source by Vanessa A. Doctor

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