Jacksonville Beaches Real Estate

For those of you that have wondered if it REALLY takes 90 to 120 days to close on a Short Sale, I'm here to tell you that it does!! At least that long! We put an offer on a property on April 3rd and here it is June 3rd (almost) and we have NOTHING from the lender! I have talked to the listing agent at least once a week since this game began and she is on the ball, but the lender isn't! They told her last week that they would look at the offers on this property on June 10th and try to have an answer by the end of June! agggggggghhhh . My poor buyer is about to blow a gasket! I warned him, but the reality is hard to accept. I never dreamed that it would REALLY take this long. Looks like this is going to be a "text book" short sale. 90 days until we find out if they accept our offer and then 30 days until we close. I'm not real crazy about these short sales. Patience never was my strong suit. Can you get a good deal on a home that's a short sale? ...

This article was written by Donna Robinson. I found it so informative that I wanted to share it. It's a real eye opener about how the proposed FHA Loan program will work. It's well worth the read! Well, the new FHA expansion bill appears to be rocketing through congress with virtually no opposition. I got my email from NAR last week, (several times in fact) asking me to make sure that I contacted my congressional representatives to request passage of this bill. NAHB is in strong support of the measure, saying that it will help stablize the housing market. In fact, if you read the mainstream media, you would get the impression that this bill has no opposition anywhere. You may even think that this idea will be beneficial for you if you are an agent or broker who is suffering under the strain of the present slump in retail sales. However, there is a HUGE downside to this bill. The problem is not in wanting to help people and stabilize the largest single asset class in America. Th...

The market continues to chug along. The majority of the homes being sold right now are short sales and/or foreclosures. I am personally working with 3 right now. I am beginning to believe that the instructors in the classes I attended on Short Sales were right!! It is really taking a long time to get the lenders to even acknowledge that they received our offer!! We submitted it 3 weeks ago and so far the listing agent hasn't been able to get us any information. We have requested a reply from the lender or we are walking. Our offer expiration date was last week and my client (thankfully) didn't submit a binder fee with the offer. We were to process the binder fee within 3 days of acceptance of the offer. I am so GLAD we didn't throw any money on the table! If we don't hear something in the next couple of days, we are going to start looking for another home. We really, really like this house, but we can't wait forEVER! I'll let you know how it all plays out. It co...

I can't believe it! In less than 24 hours I sold one short sale home and listed another one! I learned enough in my seminars to make them both happen fairly smoothly. Just in case, I brought in a back up agent to watch my back and to help me with the bank negotiations. I think that after submitting our offer on a cute house in the West Beaches area, it's time to "hurry up and wait!!" I've been warned that sometimes it takes 3-6 months to close on a short sale! I think this one just might happen faster. I hope to get a response to our offer in less than 2 weeks. If our offer wasn't enough, then I hope to have the opportunity to go back to my clients lender and get more money!! I don't know if that will fly or not. I feel like our offer was fair. My client really likes the house and I went by and met one of the neighbors over the weekend. They would love to have my client as a neighbor!! I hope it all works out. In a perfect world, here's the...

I think the buyers have come out of hibernation! My listing on Ashglen Dr North has been shown non-stop! Not only that, but the official numbers were released by the National Association of Realtors today and they were good. The number of homes on the market has dropped (less competition) and the number of sold homes was up. Finally! For the past 6 months sells have steadily dropped. Maybe this is the beginning of the end of the housing slump. Inventory numbers are better too. It now takes 9 months to sell a listing, I know that sounds awful, but it's a 3% improvement over January. I'll keep you posted...

The Mortgage Bankers Association reported that nearly 3 million homeowners were behind on their mortgages at the end of last year. An additional 1-million-plus borrowers were at risk of imminent foreclosure. Wow! As if that's not bad enough, a lot of the borrowers are finding out that they're so upset down, they just mail in the keys! Don't leave your house without a fight! The lenders can't help you, they can't work with you, they can't do a thing except foreclose if you mail in your keys and walk away from your house. Do NOT use this crazy option if you're upside down. Lenders are working harder to help you keep your home. FHA has programs to help with the ARM loans out there right now. The lenders are working with home owners after recieving pressure from the Feds to help them. Hundreds of thousands of distressed homeowners are reaching out for help. The Homeownership Preservation Foundation, part of the Hope Now Alliance, fields more than 4,000 cal...

You can find great local Jacksonville, Florida real estate information on Localism.com Ronda Densford, REALTOR is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.

I have been trying to research the subject of foreclosures in the Jacksonville area. It's really sad. Depending on exactly what search criteria I use, the average number is somewhere in the neighborhood of 1300 homes. This does not include Condos. There are approximately 100 of those. These homes are either in some stage of preforeclosure, have already been foreclosed on and are now owned by the lender, or they are currently offered on the market as a short sale. I think that the community of Realtors needs to figure out how we can HELP these people that still have a chance to keep their homes. There are a whole lot more people that are just one late payment away from getting into arrears on their home loan. These are the folks we need to concentrate our energy on. There is hope! If you are in trouble, please read the following tips taken straight from the HUD web site. This will keep you out of trouble! If you are unable to make your mortgage payment : 1. Don't ignore the prob...

Here is the "official definition" of a short sale Qualifications for a Short Sale Before you eagerly climb aboard the short sale bandwagon, consider the following to determine whether you may qualify for a short sale. If you cannot answer yes to all four requirements, you may not qualify for a short sale. The Home's Market Value Has Dropped. Comparable sales must show that the home is worth less than the balance due the lender. This unpaid balance may include a prepayment penalty. Have your Realtor do a CMA or BPO on the house to be sure. A Realtor will do a CMA for free. Some lenders might require a appraisal. The Mortgage is in Default. A lender will not consider a short sale if the payments are current. As long as the lender is receiving timely payments, the lender is satisfied. You should probably be 60-90 days late on the mortgage payments. Please contact your lender direct to see if they will work with you to get the payments current. Some are being more helpful...

I attended a 3 hour seminar today about the Short Sales opportunities we now have in the Jackonville market. There are SO MANY of them on the market! I found out that not all "upside down" homes are true short sales. The criteria is very clear on what qualifies as a short sale. The seller must a) be insolvent with NO ASSETS (no IRA, no 401K, car paid for car, no boat NOTHING of value. b) must be behind on the payments (60-90 days) c) mortgage balance must be higher than actual market value d)Seller didn't cause the problem that caused the issue (medical bills, act of nature etc). Wow. That's not quite what I thought a short sale was. I thought if you were upside down, and you wanted the bank to take less than you owed; you were a short sale. Wrong. The guidelines are very clear. Are you facing troubled times with your mortgage? There is help out there. I have contact numbers for several agencies that can help. Please call me before the situation gets any worse. The fu...

Once again, the interest rates have begun to creep back up. Now is the time to lock in your rate and BUY A HOUSE! My seller at 12641 Ashglen Drive N is entertaining offers. This home is the least expensive home in the South Kernan Blvd area. Priced at $199,900.

This condo is being sold for 219K. Fully furnished, right down to the linens! Even includes the washer and dryer. All furniture is included. This unit has a garage plus a reserved parking spot. Motivated seller has already moved. Bring offers. Community includes 2 pools, cabanna bar, business center, mini theater, total fitness center, tennis court, gated entry and more.

The problem of foreclosures and preforclosures is worse than I realized! I have heard a LOT about it on the news and I've read a lot about it in my Real Estate Forums, but until I did a home search the other day--I didn't realize just how serious the problem is in the Jacksonville area! If you're facing the possibility of being foreclosed on, please don't stick your head in the sand! What should you do if you can't pay your loan? 1. Call your lender immediately. The sooner you contact your lender (look for the toll-free number on your monthly statement), the more options will be available to you. Ask for the loan mitigation department. 2. Talk with a reputable credit counseling agency. You can call the Homeownership Preservation Foundation (toll-free 888-995-HOPE) or find a local HUD-approved counseling agency (toll-free 800-569-4287 on weekdays) or go to www.hud.gov . 3. Know your loan modification options. Depending on how quickly you call your lender, the followi...

Once in a blue moon you come across a company that truly cares about their customers, employees, community and their reputations. When you find that company, you'd better latch onto it for dear life!!! Whether you're having your car repaired, your washer or dryer repaired, if you're buying a car, hiring a contractor, buying or selling a house, or having brain surgery!! When you find that one-in-a-million company--you better use them AND tell your friends about them! I've been looking for a company like that to hang my license with. I finally found it. If you want to deal with a company that has more integrity than any other brokerage I've ever dealt with, you've come to the right place. Magnolia Properties is a Southern Tradition. A tradition that consists of deep roots, deep conviction, compassion and empathy and a strong desire to make the world a better place...a true Southern Tradition. We promise to NEVER list your house and leave you like the agent in this...

Interest rates are lower than they've been in AGES! There are (literally) thousands of homes to choose from. So where in the world are all the buyers?? I think I just answered my own question: they're out there in the world somewhere! For that very reason I have now expanded my horizons and have placed my listings on International Web Sites including Realtor.com International! Overseas investors are converging on Florida looking for a "deal". The Euro goes much further now and I think it's sort of been a "dream" of many foreigners to own part of America. I know of two little pieces of America they can get for a great price! Please read the following ads and give me a call. 请买我的房子。我并且有一公寓房待售-- 新建筑特价。 Achetez s'il vous plaît ma maison. J'ai aussi un immeuble en copropriété pour la vente - la nouvelle construction le prix spécial. 나의 집을 사십시요. 나는 또한 판매 -- 신축 특가를 위해 콘도가 있는다. Παρακαλώ αγοράστε το σπίτι μου. Έχω επίσης ένα condo για την πώλη...

With meetings lined up this week with investors and builders, the excitement continues to build! I spent 2 hours over at the Beach today just riding around checking out all of the existing Condos and Townhomes in South Jax Beach. I also spent some time looking at the proposed developments coming in. None compared to mine!! :) Seriously. With the amenities, location, size of the units, AND a roof top party deck, nobody can touch this! I just can't imagine any place else offering 10% down to hold your unit until ground breaking. That's just unheard of. So--you're watching the market? Fine! Put 10% down and KNOW that you've got yourself a GORGEOUS, hip and hap'nin townhome! Then, just sit back and watch it come back up! I think it bottomed out at Christmas. I look for prices to begin to creep back up this Spring. The preconstruction pricing on Vista Bella won't last for long! Come on board with us now and save yourself a load of money. We hope to start construction...