Monday, March 21, 2011

Perfect Time to Buy a Foreclosed Property in Jacksonville FL

Home sales up 12.9% in NE Florida

From WOKV News Talk Radio Jax

Jacksonville, FL —

In February home sales were up 12.9% from a year ago in northeast Florida. The Northeast Florida Association of Realtors is reporting sales are up but prices are down 12.9%.

NFAR communications director Melanie Green says most of the homes sold last month were not traditional sales. "The sales that occurred in February were weighted heavily by lender mediated sales, those are your foreclosed and short sales." She says that's a bit of bad news but it does indicate that investors are coming back into the market.

We also heard from consumer warrior Clark Howard. He says right now is the perfect time to buy, the reason being that the timing is right. "If you're buying a home now, man everything is smiling on you, the prices are phenomenal on the homes, the cost of money to borrow and finance those homes is still great, and this is not a gotcha this is an opportunity."

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