Nationwide housing affordability, as measured by the National Association of Home Builders and Wells Fargo Housing Opportunity Index, rose to a record level during the fourth quarter of 2011. However, prospective Gainesville homebuyers continued to have trouble qualifying for a mortgage thanks to tighter credit standards and a soft economy.
Gainesville short sales and foreclosures contribute to the decrease in pricing and lower median home value.
“While today’s report indicates that homeownership is within reach of more households than it has been for more than two decades, overly restrictive lending conditions confronting homebuyers and builders remain significant obstacles to many potential homes sales, even with interest rates at historically low levels”, said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Florida.
Also ranking at the top of the most affordable major housing markets, in descending order were Lakeland and Winter Haven, Florida; Modesto, California; Harrisburg and Carlisle, Pennsylvania and Toledo, Ohio.
Gainesville, Florida Inferred Affordable Mortgage Value is determined by taking the median household income for Gainesville, Florida and calculating the mortgage 30% of that income could afford. Here are the Gainesville Affordable Mortgage Values over the past year.
Date Inferred Mortgage
|November 2011||— —||$211,150|
|October 2011||— —||$209,124|
|September 2011||— —||$208,122|
|August 2011||— —||$204,183|
|July 2011||— —||$197,553|
|June 2011||— —||$198,480|
|May 2011||— —||$195,490|
|April 2011||— —||$191,022|
|March 2011||— —||$191,022|
|February 2011||— —||$188,629|
|January 2011||— —||$192,790|
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Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents