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Are Homes More Affordable in Gainesville

Are Homes More Affordable in Gainesville?

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

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

Other Articles to Read:

Gainesville – Distressed Sales Still Depress Home Prices

Short Sale Process – What to Expect

Choosing the Best Offer for Gainesville Short Sales

Avoid Notice of Default – Refinancing Balloon Mortgages

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.

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