Wednesday, February 16, 2011

Distressed Home Market in Jacksonville Beach continues to thrive

There are currently 328 homes listed for sale in Jacksonville Beach.  Of those homes, 11 are foreclosures and 75 are short sales. If history repeats itself, of those 75 short sales, most if not all of them will become foreclosures. The lenders are just not motivated to help us clean this market up. I was told by a local real estate attorney that specializes in short sales that the lenders make a LOT more money if they sit on a short sale than if they accept an offer and take a hit on it!  They'd actually rather let it sit on the market a long time and then foreclose on it!  What a mess!!!

Call me today if you'd like to snatch up one of the deals in Jacksonville Beach.  I'll be happy to help.

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