Jacksonville Beaches Real Estate

No joke here. The prices continue to drop in the Beaches market. After a midnight check of the latest price changes, the trend continues. I fully expected to see things cool off, with the interest rates at an all time low, I thought prices would level off, but this isn't the case. The correction continues! I'm going to research the "Days on Market" numbers next. It appears that homes continue to sit on the market longer and longer... I'm curious to see how many days they're staying on the market compared to years past. To be continued...

The article in the weekend edition of The FL Times Union was all about how prices have bottomed out and now the worst of the real estate slump is over. REALLY?? I don't think so. I don't know where in the world they are getting this info. I just logged out of MLS after checking the latest numbers. There were many, many price changes tonight in the Beaches area. The average drop was approx $14,000.00. Some were (once again) as much as a 50 thousand dollar drop. I don't see ANY price increases which would indicate that there has been a "turn around". I will keep you posted. In the meantime, call me if you're thinking about buying--this truly is (still) a buyers market!! Til next time, Ronda

I'm amazed that NAR (National Association of Realtors) doesn't spend some of those bazillion dollars to educate the public. I still don't think that people understand that when they buy a house, they need to have a REALTOR representing them. NOT THE REALTOR ON THE SIGN. They need their OWN REALTOR representing their interests, not the sellers. It doesn't cost the buyer ANYTHING to have a REALTOR representing them. The seller pays the REALTOR commissions, not the buyer. When the listing agent sells the home, the REALTOR becomes a "Transaction Broker". This means that the REALTOR represents both sides equally and owes both sides certain duties. I've closed several times (okay, twice) and represented both sides. It's a whole different ballgame. The transaction happened without a hitch and everyone was represented fairly, honestly and with due diligence. I think I am going to specialize in Buyer Agency representation. I have some buyer clients that I'm...

Here's what the Gator said: A University of Florida study suggests the state's single-family residential housing market has bottomed out. "If you're thinking of buying a house, there's probably not much to be gained by holding out at this point," said Wayne Archer, director of UF's Bergstrom Center for Real Estate Studies. "It doesn't look like prices are going to fall anymore." The quarterly survey of real estate industry professionals completed in January shows the share of respondents observing a drop in single-family housing prices has dipped, while a growing number find prices staying even with inflation. "We see that as a benchmark," Archer said. "When prices maintain the same level as inflation, then we're probably in some kind of equilibrium. It indicates the market is stabilizing." The exception is condominiums, which Archer said are overbuilt and prone to speculative and naïve investors. But the overall news...

Home sales forecast brighter in ‘07 WASHINGTON – March 12, 2007 – Anyone selling a home in the past year has likely suffered through some pretty stormy markets, but economists say a break in the clouds may be on the way. That’s because since the highly anticipated “real estate bubble” began deflating in mid-2005, has been losing air for the past year and a half and may finally be out of air. And while some markets suffered through some deep slumps, forecasters are now predicting the worst may be over. “It appears we are getting very close to bottom,” says David Lereah, chief economist for the National Association of Realtors. Lereah is one of several economists who agree that sales data show the national existing home sales market is on the verge of regaining ground. “Sales have hovered for the last four months, scratching bottom and then coming up, scratching bottom and coming up again. We are comfortable this is now the bottom,” he says. But before you put away that umbrella, it migh...

After further review, it appears that the downward spiral continues in the beaches real estate pricing. I continue to see prices dropping at an alarming rate. This is truly a buyers market! I think that the downward trend will probably continue through the Spring buying months. I am waiting and watching for a leveling off, but so far, there's no evidence of that. Now is the time to buy a house at the beach. Interest rates are very low right now and there are lots of houses on the market. Call me today for some detailed information on any home you're interested in looking at. As your agent, I will: Assure that you see all the properties in the area that meet your criteria. Not just those listed on the local MLS, but also many un-listed properties that I find through my local contacts and affiliations. Guide you through the entire process, from finding homes to look at, to getting the best financing. Make sure you don't pay too much for your new home. As a real estate expert ...

Depending on who you listen to, either we're just getting started with the correction, or it's now over! I prefer to be more realistic. After all, real estate truly is local. The trend in one part of the country, or in one part of the state may differ from ours. I continue to be amazed at the price changes in the Jacksonville Beaches market. The hardest hit area appears to be Atlantic Beach. For now, the houses on the market seem to be sitting there...forever. After numerous price drops, they continue to sit. After seeing the same houses on the market for months and months, the picture is quite clear. It ain't low enough yet!The number of lookers continues to increase. The problem isn't with the number of lookers, it's with the number of takers!We all continue to wonder: how low will they go??? In the meantime, stop by my website for lots of helpful info. www.jaxrealtoronline.com

You bet it is! It is like fingernails on a chalkboard! What in the world is going on at the beach? Prices continue to drop at an alarming rate. Is this the famous "correction" we have been hearing about? I check MLS every night at midnight to see what the numbers are and I've been blown away by the price changes I'm seeing. I mean, can you believe that a house could drop ONE HUNDRED THOUSAND DOLLARS overnight? Well, it's happening! Do you think that maybe the house was overpriced to begin with? Duh. I'm a new REALTOR so I still care about all of these numbers. No, I wasn't around (unfortunately) during the days of "putting a sign in the yard and having a bidding war 30 minutes later! Wow! I wish. Nope, I'm building my career the old fashioned way.....hard work, tons of research, lots of classes and by knowing my market better than anyone else. I'll be checking the MLS nightly and will pass that info along to you. I think you'll find the nu...