Thursday, January 12, 2012

Jacksonville Market Improving

You can almost feel it in the air. Now that the inventory of homes on the market continues to drop........ Buyers really aren't in the drivers seat anymore. I sold a house last week and we (of course) got into a multiple offer situation. I explained to my Buyers how it works in great detail. Then I suggested that they "sleep on it" and consider their "highest and best offer". Keep in mind, they LOVE this house. We looked at a dozen others AFTER we looked at this one back in November. Everytime we left a home, they compared the others to this one. They asked me if I thought they should go in at full asking price. After another CMA and a lot of discussion, they decided they wanted it bad enough to offer full price. We did and we got it!  I had written a sweet cover letter and I'd like to think that helped the Seller make his decision. My Buyers are ecstatic and we're well into the process of getting the financing together. So there you go... Another home in Jacksonville sold at asking price.


The numbers don't lie. According to the National Assoc of Home Builders, our market has shown improvement in housing permits, our employment numbers have improved and house prices have improved for at least six consecutive months. This is another indicator that our overall real estate market is improving. According to NAHB:  "The three indicators that are analyzed are employment growth from the Bureau of Labor Statistics, house price appreciation from Freddie Mac, and single-family housing permit growth from the U.S. Census Bureau. NAHB uses the latest available data from these sources to generate a list of improving markets. A metropolitan area must see improvement in all three areas for at least six months following their respective troughs before being included on the improving markets list."


There may never be a better time to buy in Jacksonville. The interest rates remain low (my latest buyer locked in at 4%) and the home prices have stabilized at historical lows. We are attracting new companies and according to the Chamber of Commerce 8,000 new jobs were created in 2011. Not a huge number, but better than most cities.

We're excited about the real estate market in Jacksonville Florida!  Things are looking up and we're looking forward to market growth.

Contact us today for more information.


Some information from the National Home Builders Association