Showing posts with label homes for sale jacksonville. Show all posts
Showing posts with label homes for sale jacksonville. Show all posts
Monday, January 28, 2013
Sunday, April 1, 2012
Latest update on the Jacksonville FL real estate market
Wow! What a difference a few months make! The short and sweet version of what's going on in the Jacksonvile Market is this:
Our inventory is DOWN to a 6 and a half month supply. A "normal" or stable market is considered to be a 5-6 month supply. We're almost back to normal! Break out the champagne!
Have you been house hunting lately? Good luck! The inventory is VERY low. It's hard to find very many houses to look at. Guess what this (historically) means? Yep. Supply vs Demand = Higher home prices. Keep that in mind if you're still sitting on the fence.
Need more proof? How about these factoids? New listings crept up a little in February, but not nearly enough to keep up with the number of sold properties.. I'm thinking that means that we're exactly where we were this time last year. Know what that means? Yep. The bottom is here or so close I can almost see it!
More evidence? The median sales price was down a whopping 0.2% over last year. I say that doesn't count. I'm going to call it a wash and say that the median sales price didn't fall. I mean seriously, 0.2%? I'm thinking that means that we're exactly where we were this time last year. Know what that means? Where are all of the REO's and Foreclosures that were headed to the market? They haven't made it here YET. CAN IT BE THAT WE'VE HIT BOTTOM??
Just maybe. Pending sales are up 26.5%. Yes, you read that right UP 26.5%. About half of those (47.4% to be exact) were distressed sales (short sales, foreclosures, REO's) and the rest were gool old fashioned seller owned properties.
Can it be? Someone pinch me. I think we've hit bottom and maybe, just maybe, with this shortage of new listings, prices just might to start going up. I will be happy if they just stablize and stop falling. Afterall. All we want is a healthy market where Sellers can Sell and Buyers can afford to buy.....
I think we just might be there now. What do you think?
Our inventory is DOWN to a 6 and a half month supply. A "normal" or stable market is considered to be a 5-6 month supply. We're almost back to normal! Break out the champagne!
Have you been house hunting lately? Good luck! The inventory is VERY low. It's hard to find very many houses to look at. Guess what this (historically) means? Yep. Supply vs Demand = Higher home prices. Keep that in mind if you're still sitting on the fence.
Need more proof? How about these factoids? New listings crept up a little in February, but not nearly enough to keep up with the number of sold properties.. I'm thinking that means that we're exactly where we were this time last year. Know what that means? Yep. The bottom is here or so close I can almost see it!
More evidence? The median sales price was down a whopping 0.2% over last year. I say that doesn't count. I'm going to call it a wash and say that the median sales price didn't fall. I mean seriously, 0.2%? I'm thinking that means that we're exactly where we were this time last year. Know what that means? Where are all of the REO's and Foreclosures that were headed to the market? They haven't made it here YET. CAN IT BE THAT WE'VE HIT BOTTOM??
Just maybe. Pending sales are up 26.5%. Yes, you read that right UP 26.5%. About half of those (47.4% to be exact) were distressed sales (short sales, foreclosures, REO's) and the rest were gool old fashioned seller owned properties.
Can it be? Someone pinch me. I think we've hit bottom and maybe, just maybe, with this shortage of new listings, prices just might to start going up. I will be happy if they just stablize and stop falling. Afterall. All we want is a healthy market where Sellers can Sell and Buyers can afford to buy.....
I think we just might be there now. What do you think?
Saturday, November 14, 2009
Dear Santa-Please bring me a house
If you've been thinking about buying a house, let's do it now and get you moved in before Santa gets here! The First Time Buyer Tax Credit is alive and well! There's even a new $6500 Tax Credit for people that sell their house and buy another one! Wow! It doesn't get any better than this! Call me today and let's get busy and find your dream home.
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Saturday, September 12, 2009
Times Up For First Time Buyers
If they don't extend the November 30th deadline for first time buyers to get the tax credit---you're too late!!! Short sales are consistently taking 3-6 months to close so you've waited too long.
I predict they will extend the deadline, but you just can't count on that for one minute. If you're looking for a really good bargain in todays market, stick with foreclosed homes. They can close in 30 days or less. You can USUALLY get a response from the lender on your offer in 24-36 hours. Please note that there are multiple offers now on the nicer houses. I've heard that some homes have as many as 2 dozen offers!! In today's market, it's probably better to start out with your highest and best offer right from the "get-go". That way, if you really love the house, you'll know if you're in the game. With the number of offers being thrown on the table, you need to try to make yours the best!
Call or email me today for a list of foreclosures in the neighborhoods you like.
Monday, June 22, 2009
Jacksonville Real Estate Market Update
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 we pay for all of the government spending?
Don't delay. Buy today.
Give me a call or send me an email and put me to work for YOU!!
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 we pay for all of the government spending?
Don't delay. Buy today.
Give me a call or send me an email and put me to work for YOU!!
Saturday, May 16, 2009
Wednesday, February 25, 2009
FL Market Out of Control!
News from Florida Assoc of Realtors is a mixed bag, to say the least! Sales are way up--with prices WAY down. At least some of the inventory is "going away". There have been lots of sales because of all of the foreclosed properties and short sales. That's okay if you're a buyer....not so good if you're trying to sell your home right now. It's all about PRICE in this market. If you're a seller, you're competing with dirt cheap houses all around you. Now, more than ever, if your home isn't priced right, it's not going to sell. Pure and simple. Here's a little bit of what the experts have to say about this crazy market...
...“Many people are looking at today’s market and seeing opportunities to find the home or business they’ve always wanted,” said 2009 FAR President Cynthia Shelton. “With a range of available housing options, historically low mortgage interest rates and affordable prices, buyers who may have been hesitant before should take a closer look at the current opportunities for homeownership. As real estate professionals who know all aspects of their local market conditions, Florida Realtors are here to help counsel consumers making sound long-term decisions for their homes and their businesses.”
..."NAR’s latest housing outlook shows that home prices continue to fall, but also notes a trend of increasing sales activity in the Florida, California, Arizona and Nevada markets. “It appears some buyers are taking advantage of much lower home prices,” said NAR Chief Economist Lawrence Yun. “The higher monthly sales gain and falling inventory are steps in the right direction, but buyers will continue to have an edge over sellers for the foreseeable future.”
TRANSLATION: Buyers market! Are you thinking of buying a home? Do you know you can get up to $35,000 in firt time buyer assistance? Do you know that you get a $8000 Tax Credit if you buy in 2009? Good grief! What are you waiting for???
Call me today and let's get out there and find YOU a bargain!
...“Many people are looking at today’s market and seeing opportunities to find the home or business they’ve always wanted,” said 2009 FAR President Cynthia Shelton. “With a range of available housing options, historically low mortgage interest rates and affordable prices, buyers who may have been hesitant before should take a closer look at the current opportunities for homeownership. As real estate professionals who know all aspects of their local market conditions, Florida Realtors are here to help counsel consumers making sound long-term decisions for their homes and their businesses.”
..."NAR’s latest housing outlook shows that home prices continue to fall, but also notes a trend of increasing sales activity in the Florida, California, Arizona and Nevada markets. “It appears some buyers are taking advantage of much lower home prices,” said NAR Chief Economist Lawrence Yun. “The higher monthly sales gain and falling inventory are steps in the right direction, but buyers will continue to have an edge over sellers for the foreseeable future.”
TRANSLATION: Buyers market! Are you thinking of buying a home? Do you know you can get up to $35,000 in firt time buyer assistance? Do you know that you get a $8000 Tax Credit if you buy in 2009? Good grief! What are you waiting for???
Call me today and let's get out there and find YOU a bargain!
Wednesday, February 4, 2009
Jacksonville Home Prices Decline
Overall home values in Northeast Florida fell 11.6 percent in 2008, according to the latest data from Zillow.com.
Median home sale values fell to $163,800, compared to the market peak of more than $210,000 in mid-2006, with nearly 30 percent of all homes selling at a loss.
Single-family home values fell 11.2 percent, while condo values fell 17.3 percent.
Nationwide, home values fell for the eighth consecutive quarter, declining 11.6 percent to $192,119. That means homeowners lost a cumulative $3.3 trillion in home values during 2008, with $1.4 trillion of it coming in the fourth quarter.
It could be worse! We could be in South Florida where the value dropped 23.5% in 2008. Condo prices dropped 23.9%. It's been reported that more than 34.5% of those homes sold at a loss.
Obama had better do SOMETHING to stimulate the building industry, free up mortgage money and make credit available to buyers or we are going to be in VERY SERIOUS condition in a very short time! Let's not spend Federal dollars on a "wish list" of things that won't do a thing for the Real Estate/Construction industry. Until these industries are back up and running, not much can be done about this economy.
Median home sale values fell to $163,800, compared to the market peak of more than $210,000 in mid-2006, with nearly 30 percent of all homes selling at a loss.
Single-family home values fell 11.2 percent, while condo values fell 17.3 percent.
Nationwide, home values fell for the eighth consecutive quarter, declining 11.6 percent to $192,119. That means homeowners lost a cumulative $3.3 trillion in home values during 2008, with $1.4 trillion of it coming in the fourth quarter.
It could be worse! We could be in South Florida where the value dropped 23.5% in 2008. Condo prices dropped 23.9%. It's been reported that more than 34.5% of those homes sold at a loss.
Obama had better do SOMETHING to stimulate the building industry, free up mortgage money and make credit available to buyers or we are going to be in VERY SERIOUS condition in a very short time! Let's not spend Federal dollars on a "wish list" of things that won't do a thing for the Real Estate/Construction industry. Until these industries are back up and running, not much can be done about this economy.
Wednesday, January 14, 2009
Help For Renters Living in Foreclosed Homes
Great news concerning renters of foreclosed properties! I have been complaining and worrying about these tenants for months! I am so relieved that SOMETHING is finally being done. I hope they follow through with all of this and really protect these families caught in the foreclosure mess. This is not fair to the tenants that have been paying their rent and playing by the rules. Please see the article below from the Florida Association of Realtors site today:
Fannie Mae bans evictions of renters
WASHINGTON – Jan. 14, 2009 – Mortgage finance company Fannie Mae said Tuesday it has adopted a policy allowing renters to remain in their homes even if their landlord enters foreclosure.
The new policy will allow residents of about 4,000 properties to sign new leases with Fannie while the property is up for sale. Michael Williams, Fannie Mae’s chief operating officer, said in a statement that the change should “help bring a measure of stability to communities impacted by high foreclosure rates.”
Fannie Mae had indicated last month that it was planning to do so. Sibling mortgage financier Freddie Mac is working on a similar policy, company spokesman Brad German said.
But Amy Marx, an attorney with New Haven Legal Assistance in Connecticut, said Freddie Mac has not been responsive to requests that it do the same, and has continued with evictions of renters in recent weeks.
“We are thrilled that Fannie Mae has done the right thing,” she said. “Our hope that Freddie Mac will follow their lead.”
New Haven Legal Assistance and two other legal aid organizations in Connecticut represent seven tenants facing eviction on properties whose loans are held by Fannie Mae or Freddie Mac. The legal groups argue that financial bailout legislation passed in October requires the companies allow tenants to remain in their homes.
Some households, Marx said, haven’t been notified of Fannie Mae’s policy change by the real estate agents charged with selling the properties.
Fannie and Freddie said last week they will extend a suspension of foreclosure sales and evictions from single-family homes through the end of January. The companies had suspended foreclosures through the holidays.
The government-controlled home loan giants say the extension will allow borrowers facing foreclosure to keep their homes as they work to modify more loans.
Washington-based Fannie Mae and McLean, Va.-based Freddie Mac own or guarantee around half of the $10.6 trillion in U.S. outstanding home loan debt.
The pair were taken over by the government in September and placed in a conservatorship after mounting mortgage losses put them in distress that was a prelude to the broader financial crisis that hit Wall Street last year.
Fannie Mae bans evictions of renters
WASHINGTON – Jan. 14, 2009 – Mortgage finance company Fannie Mae said Tuesday it has adopted a policy allowing renters to remain in their homes even if their landlord enters foreclosure.
The new policy will allow residents of about 4,000 properties to sign new leases with Fannie while the property is up for sale. Michael Williams, Fannie Mae’s chief operating officer, said in a statement that the change should “help bring a measure of stability to communities impacted by high foreclosure rates.”
Fannie Mae had indicated last month that it was planning to do so. Sibling mortgage financier Freddie Mac is working on a similar policy, company spokesman Brad German said.
But Amy Marx, an attorney with New Haven Legal Assistance in Connecticut, said Freddie Mac has not been responsive to requests that it do the same, and has continued with evictions of renters in recent weeks.
“We are thrilled that Fannie Mae has done the right thing,” she said. “Our hope that Freddie Mac will follow their lead.”
New Haven Legal Assistance and two other legal aid organizations in Connecticut represent seven tenants facing eviction on properties whose loans are held by Fannie Mae or Freddie Mac. The legal groups argue that financial bailout legislation passed in October requires the companies allow tenants to remain in their homes.
Some households, Marx said, haven’t been notified of Fannie Mae’s policy change by the real estate agents charged with selling the properties.
Fannie and Freddie said last week they will extend a suspension of foreclosure sales and evictions from single-family homes through the end of January. The companies had suspended foreclosures through the holidays.
The government-controlled home loan giants say the extension will allow borrowers facing foreclosure to keep their homes as they work to modify more loans.
Washington-based Fannie Mae and McLean, Va.-based Freddie Mac own or guarantee around half of the $10.6 trillion in U.S. outstanding home loan debt.
The pair were taken over by the government in September and placed in a conservatorship after mounting mortgage losses put them in distress that was a prelude to the broader financial crisis that hit Wall Street last year.
Sunday, January 11, 2009
Jacksonville Homes For Sale
Great Article on Selling Your Home
by Anonymous (I read it online and loved it! Started following other links and never got back to the article!) Enjoy the read. IT IS SO TRUE!
Selling a home in a declining market starts with a proper attitude and finding the right Realtor® who is optimistic and knows the right sales techniques in this tough market. Even though most people and economists are down on the housing market (feel it is depressed, that the economic recovery isn't going to happen in the next few months, and consumer confidence is down), it doesn't mean that you can't sell your home.
The truth of the matter is many people will sell their homes between now and this summer. While many sellers and real estate agents take a reactive approach to market conditions, those sellers who take a more proactive and realistic approach to the market will be the ones who sell their homes. These are the sellers who take advantage of this market and move up to their dream home! First, be honest about appraising the condition of your home.
The key to successful selling in a 'declining market' is pricing your home at today's market value, having your home in tip-top condition and being able to work with a prospective buyer on financing needs and terms. Don't let your ego or pride get in the way when determining a price for your home. Put yourself in the buyer's shoes and walk across the street. Curb appeal to a new buyer is a very important and is many-times overlooked.
Secondly, take a leisurely walk through your home jotting down the little things you might do to spruce it up. New carpeting, a fresh coat of paint, new light fixtures, mirrors, etc., are items that will give your home more emotional appeal and does not cost too much. Put away the clutter throughout the home. Rooms free of clutter will appear bigger and the new buyer can visually 'move into' your home much easier. Remember, new buyers are not buying your furniture.
Finally, be patient. The real estate market has changed considerably since the last run-up where homes sold in hours or days. We are now experiencing a more "normal market" where homes take 90-120 days to sell. Remember, inventories are at an all-time high right now. Bank foreclosures are all around you and many buyers will have difficulty qualifying for a new loan. Lenders also have very strict guidelines now and consumer confidence is very low. Allowing for a normal marketing period will do a lot to alleviate your impatience when you have few showings of your home or a lack of offers to review.
A good Realtor® will keep you abreast of market changes, activity on your home and others in the neighborhood, while maintaining a "teamwork" concept that is paramount for a successful sale. Properties need ample time to be exposed to the public and finding the right buyer requires a good understanding of the market as well as sales values. In all honesty, there are no easy answers but one thing is for certain, even in the worst markets, there are people selling homes and taking their equity!
AMEN!
by Anonymous (I read it online and loved it! Started following other links and never got back to the article!) Enjoy the read. IT IS SO TRUE!
Selling a home in a declining market starts with a proper attitude and finding the right Realtor® who is optimistic and knows the right sales techniques in this tough market. Even though most people and economists are down on the housing market (feel it is depressed, that the economic recovery isn't going to happen in the next few months, and consumer confidence is down), it doesn't mean that you can't sell your home.
The truth of the matter is many people will sell their homes between now and this summer. While many sellers and real estate agents take a reactive approach to market conditions, those sellers who take a more proactive and realistic approach to the market will be the ones who sell their homes. These are the sellers who take advantage of this market and move up to their dream home! First, be honest about appraising the condition of your home.
The key to successful selling in a 'declining market' is pricing your home at today's market value, having your home in tip-top condition and being able to work with a prospective buyer on financing needs and terms. Don't let your ego or pride get in the way when determining a price for your home. Put yourself in the buyer's shoes and walk across the street. Curb appeal to a new buyer is a very important and is many-times overlooked.
Secondly, take a leisurely walk through your home jotting down the little things you might do to spruce it up. New carpeting, a fresh coat of paint, new light fixtures, mirrors, etc., are items that will give your home more emotional appeal and does not cost too much. Put away the clutter throughout the home. Rooms free of clutter will appear bigger and the new buyer can visually 'move into' your home much easier. Remember, new buyers are not buying your furniture.
Finally, be patient. The real estate market has changed considerably since the last run-up where homes sold in hours or days. We are now experiencing a more "normal market" where homes take 90-120 days to sell. Remember, inventories are at an all-time high right now. Bank foreclosures are all around you and many buyers will have difficulty qualifying for a new loan. Lenders also have very strict guidelines now and consumer confidence is very low. Allowing for a normal marketing period will do a lot to alleviate your impatience when you have few showings of your home or a lack of offers to review.
A good Realtor® will keep you abreast of market changes, activity on your home and others in the neighborhood, while maintaining a "teamwork" concept that is paramount for a successful sale. Properties need ample time to be exposed to the public and finding the right buyer requires a good understanding of the market as well as sales values. In all honesty, there are no easy answers but one thing is for certain, even in the worst markets, there are people selling homes and taking their equity!
AMEN!
Monday, November 3, 2008
Home Sales Up in Jacksonville-Foreclosure driven
Homes sales have been quite brisk the past 30 days! Unfortunately more than half of those sales have been preforeclosures and short sales. The market is clearly price driven. The investors have come back out and first time buyers are finding deals galore! It's a great time to be a buyer in Jacksonville! Unfortunately, those that aren't in a short sale situation, those trying to get a fair price for thier homes, these are not such good times. If the seller is trying to compete with these foreclosed homes, good luck! The price of the short sale homes are usually 20% or more below the other homes in the neighborhood, naturally pulling the value of the homes in the entire area down with it. This is a tough time to try and sell a house at full value!
If you're a buyer that's been sitting on the fence, it's time to JUMP! Interest rates are still low--inventories are HIGH--foreclosures are at an all time high! What in the world are you waiting for?? Let's go find your dream home. :)
If you're a buyer that's been sitting on the fence, it's time to JUMP! Interest rates are still low--inventories are HIGH--foreclosures are at an all time high! What in the world are you waiting for?? Let's go find your dream home. :)
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