Jacksonville Beaches Real Estate

 

Here is a condensed-quickie take on today's market vs 2008 and why I don't think the market is going to crash. Lending standards are very strict now. In 2008 if you had a pulse, you could get a loan. Wanted to buy 2 or 3 homes?? Let's check that pulse... APPROVED .  Our inventory remains extremely low. We only have a 3 months supply of homes for sale (6 months is considered a healthy market).  In 2008 we had a 10 months supply, driving the prices down. There were SO many foreclosures flooding the market, prices had no where to go but down.   People aren't using their homes as ATM's. In 2008 people tapped their home equity for cars, boats and vacations. You know, the "essentials".  The available equity (before hitting 80% of loan to value) is at an all-time high. Only 1.1% of homeowners are underwater (owe more than their house is worth). People with equity have options to avoid foreclosure. Without all of the foreclosures of 2008 prices will contin...

Jacksonville, Florida, is a vibrant city that offers a diverse and dynamic real estate market. As the largest city by area in the continental United States, Jacksonville boasts a wide range of neighborhoods, each with its unique charm and characteristics. Whether you're considering buying or selling a property, understanding the key aspects of the Jacksonville real estate landscape is essential. 1. Market Diversity: One of the defining features of Jacksonville's real estate market is its diversity. From historic neighborhoods with charming bungalows to modern waterfront developments and suburban communities, Jacksonville caters to a variety of lifestyles. Understanding the distinct features of each area is crucial for finding the perfect fit for your needs. 2. Market Trends and Stability: In recent years, Jacksonville has experienced steady growth in its real estate market. The city's economy, fueled by a mix of industries including finance, healthcare, and logistics, ...

Follow the link for detailed information. Mortgage Rates Slightly Lower After Fed Minutes

Once again it's time for me to repost the scariest real estate story ever! It's become an annual tradition to repost this article. I call it my "List Em and Leave Em" post. Don't let this happen to you! The names have been changed to protect the slackers and the victims... I continually hear people say that their realtor bugged them for weeks to get them to list their house with them. They finally agreed to list it and they never saw the REALTOR again!! I'm not exaggerating! Check out this story.... New example of a "list em and leave em" real estate company JANESVILLE, Wis. - A couple checking out a house for sale were shocked to discover the 55-year-old homeowner dead in her bed. Authorities said foul play was not suspected. Real estate agent Linda stood in the dining room while Justin and Colleen walked through a house Monday night. Before long, she heard Colleen scream."I thought, 'What's wrong?' Maybe it was a dead m...

Super Location In Jacksonville Overview Maps Photos Description Neighborhood $169,995 Single Family Home Main Features 4 Bedrooms 2 Bathrooms Interior: 2,001 sqft Lot: 9,583 sqft Location 13143 Annandale Dr N Jacksonville, FL 32225 USA To get updates on open home dates and other property events, please click the "Like" button below: Ronda Densford Magnolia Properties (904) 885-9907 ronda@magnoliaagent.com http://www.rondadensford.com               Nearby properties for sale

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 ...

Merry Christmas! I hope the holiday season brings you lots of rest and maybe a present or two. I'm showing houses tonight so maybe my Buyers will get a signed acceptance before Santa comes! Let's see what the New Year brings in the housing market. Wish I had a crystal ball... Warmest Christmas wishes,

Great article in the Biz Journal today. Here's a little snippet for you to ponder . Jax ranked No. 4 for in the nation for home sales in January Jacksonville Business Journal Home prices in Jacksonville improved by 3.5 percent quarter-over-quarter, according to the report, though they were down nearly 8 percent year-over-year. Real-estate-owned saturation, which Clear Capital defines as the percentage of REO properties sold compared with all properties sold in the last rolling quarter, was nearly 30 percent in Jacksonville. Could it be that we've hit bottom??

http://newstouseinjacksonvillerealestate.housingtrendsenewsletter.com?Newsletter_ID=247

Be careful what you wish for! I predict that we're going to have an amazing number of first time buyers entering this market in the next 2 weeks! Are you prepared? First time buyers are the funnest, and the most challenging clients I've ever worked with!! Never a dull moment. They are smart, they're internet savvy, they have already looked at a LOT of houses on Realtor.com and other sites and they are READY TO GO! We are under a very tight deadline. We must have a contract signed, sealed and delivered no later than April 30th. That seems so far away right now--it's not! After getting the deal done, we can close as late as June 30th. In this market, the first timers are all looking in the same price range. I am starting to see multiple offers on homes already! Are you ready to get educated on how the process works? Some of my first timers are confused and have lots of questions. Multiple offers and homes sold above the asking price will be here this Spring...

Here is a good video about the new Good Faith Estimate lenders are using.

Florida: Like California, home sales are up, and so are foreclosures and defaults. For the eighth month in a row, existing home sales rose--18%--in April, with existing condo sales up too--21%, according to Florida Association of Realtors’ numbers. The state, along with California, Arizona, and Nevada, powers the nation’s foreclosure abyss--10.6% of the mortgages in Florida are “somewhere in the process of foreclosure,” according to the Mortgage Bankers’ newest Delinquency Survey. This info from Florida Assoc of Realtors site. This just means that we're nearing "the bottom". These new and improved, lower prices will be around for a while and once the "distressed homes" are sold-- prices will begin to increase again. Buy now while the prices are low and interest rates are low. With all of the bailouts and now the proposed National Healthcare System looming...inflation will hit us next. The days of very high interest rates aren't too far off. How else can ...

Oh my gosh. I think I'm making believers out of my buyers these days! I'm NOT using car salesmen tricks by saying "you better buy it now or it'll be gone". Read my lips: you better put an offer on it or it will be gone!! I kid you not. That's how hot the Jacksonville market is right now. First time buyers are gobbling up the houses in the 100-185,000 price range like I can't even believe. This is a hot, hot price range and the inventory is there to give everyone lots of choices. The $8000 credit towards closing costs is really going to help a LOT. Call me today and let's go find one of these bargains for YOU!

Thank goodness! After making several posts about the renters caught in the foreclosure nightmare, I got great news today from Fannie Mae. The following article was on the Florida Association of Realtors site. I think they're on the right track and I will keep an eye on how things develop. If you're a renter living in a home that has been foreclosed on, Hang on! Help is on the way. Check this out: FANNIE TO HELP RENTERS STAY IN FORECLOSED HOMES NEW YORK – Dec. 16, 2008 – Fannie Mae said Monday it’s finalizing a plan to help renters stay in their homes even if their landlord enters foreclosure. The mortgage giant said it’s working on a national policy to allow renters living in foreclosed properties - and who can make their rental payments - to sign new leases with Fannie while the property is up for sale or get cash to help move into a new home. Last month, Fannie and sibling company Freddie Mac suspended foreclosure sales on occupied single-family homes and evictions from ...

Wow! This is a powerful post and I thought it was worth sharing. Original Post Via Danilo Bogdanovic-Real Estate Consultant -Loudoun and Fairfax County: Not all sellers understand that their asking price is the ultimate determination of whether they will sell their property or not. Not only does the asking price affect if you'll sell, but when and for how much. The longer it takes you to get to the correct fair market value asking price, the greater your Days On Market are and the more of a negative stigma buyers will have of your property. This can translate into lower offers and ultimately, a lower selling price. Sure, how well your agent markets the property matters. But even the best agent in the world can't fool today's buyer and a good buyer's agent. Today's buyer has access to way too much information and data to overpay for a property. And a good buyer's agent will provide comps and their personal expertise to even the most uniformed buyer so that they ...

I promised you I'd give you a heads up when we finally heard from the lender about our short sale offer. WE FINALLY RECEIVED A COUNTER OFFER from the lender this week! We immediately countered and hopefully they'll take our offer. The listing agent warned me that it might be 2+ weeks before we hear from the lender again! We rec'd a response/counter offer from the lender on day 70. If we hear back from them in 2 weeks, that will mean that it's been 90 days to get acceptance of our offer! TEXT BOOK SHORT SALE! Unfortunately, it will probably be 30 days after that before we close! Short sales are a great way to save money when you buy a house. But you have to understand that it might take MONTHS until you close. This all depends on how far along the process is when you find the house. If it's still early in the process--be prepared for a 3-5 month wait until closing. The interest rates are creeping up at a pretty fast clip. Please don't continue to wait too...