Jacksonville Beaches Real Estate

I just had to share this story. My buyers and I found a fabulous house on Monday afternoon. We wrote up an offer for the lender and sent it to the listing agent. This is a bank owned, foreclosed home that has only been on the market for 10 days. Would you believe that we got a counter offer from the lender THE VERY NEXT MORNING ? We couldn't believe it! We immediately countered and sure enough, before noon the next day--we had a counter to our counter!! And then, phooeey. The weekend got here so they gave us until noon Monday to sign the counter to our counter offer! Guess what? We're going to counter again ! We are so close! I think we may wrap it up by Tuesday at lunch. I still can't believe the fast response. We still have a few "issues" we have to work out with them, but I'm confident they'll see the value of the offer we're presenting to them. FORGET SHORT SALES . They can take (literally) 4-6 months to even get a response to your offe...

Here I sit in a vacant house...waiting for prospects to stop by. I have iced down some bottled waters, I have a wonderful platter of cookies from the Publix bakery, Diet Cokes, Sprite and even the proverbial hard candy bowl!! Only one thing is missing: visitors! I will have to admit that it's about 99 degrees outside and the humidity is around 110%; but still! WHERE ARE THE "LOOKERS". I thought surely I'd at least have a nosy neighbor or two...you always get a few of those. Nope. I guess it's even too hot for them! This is a cream puff!If you know of anyone looking for a pool home in Arlington in the low 120's--please send them my way. Wait! Here come some lookers!! Better close up the old lap top and get to work! I have a contract sitting on the counter top...just in case! Open Houses just don't work anymore I guess. REALTORS have always said that, but sellers don't believe us. Oh well. Jus doin my job...right? Maybe those nay sayers are all...

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!

Wow! Things have gone crazy in this market! The investors are fighting with the "normal buyers" and the "normal buyers" are coming out of the wood work! I guess it's the $8000 carrot that the Feds are dangling in front of the buyers noses! I am working with 4 different buyers. Let me say that again...I am working with FOUR buyers! These are preapproved, bonafide, ready to buy buyers! And just to add a little icing on the cake, they are the sweetest, nicest, funnest buyers I've ever worked with! Dare I say it? Oh what the heck: we are having fun ! There are so many "bargains" out there right now it's amazing. The prices are HOT HOT HOT ! Someone call the fire department! The Jacksonville real estate market is on fi-ya! Call me today and I'll find you a sweet deal too!

Hurry! If you've been watching the market, waiting for just the right time to jump in--- now is the time!! Short sales are the name of the game. There are a bazillion of them on the market right now and lenders seem to be getting their act together. I have partnered with one of Jacksonville's finest real estate attorneys, David Heekin, to ensure that my buyers AND my sellers are protected and under the watchful eye of an attorney. There are so many legal ramifications of a short sale that I just felt like it would be a good investment for my clients to have peace of mind throughout the entire process. David is involved from day one. Put us to work for you today before all of the bargains are snatched up.

The number of houses that are now pending in MLS is AMAZING ! I am blown away by the increase in business in our market. The number of REO's (bank owned--foreclosed homes) on the market is increasing too. I was shocked to revisit a search I did the first week in April on the Westside of town. Out of 11 homes that had been "active" at the time, 9 are now "pending". Wow! Now keep in mind, these are low priced homes ($100,000 or less) but they are an indication of the increase in sales. A lot of these homes are being purchased by investors. That's okay! We HAVE to get these homes off the market so the rebuilding process can begin. As long as these properties continue to bring the entire market value down, we're destined to stay in this declining market. I celebrate every single sell of a short sale or REO property in the Jacksonville market! That's one less low priced home that's keeping the price of every home nearby low.

Call me today!

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 shoul...

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 sp...

The number of foreclosures continue to increase in the Jacksonville area. Several different auctions are held at least once a month and these tend to clear out large numbers of homes in one afternoon.You can even buy foreclosures online! Lots of empty, foreclosed homes continue to sit in many neighborhoods creating eyesores and in some cases, a safety hazzard. The upcoming bail out package has GOT to include some relief from this foreclosure nightmare! I think if they would lower the interest rates down to around 3.5%---we'd have buyers coming out of the woodwork! And why not? There are lots of good deals out there. I've decided NOT to work with short sales for a while. The time involved and the disaster that often befalls the poor buyer, has made me rethink this market entirely. As my short sale listings expire, I refer them to another agent. I just don't think they're fair to the buyers OR the sellers. They often take so long, the house ends up in foreclosure be...

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 rat...

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! Firs...

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 ...

For those of you that might now know what REO stands for, it's Real Estate Owned. It is a line item on a banks books that is a BAD thing for the bank. They aren't in the business of OWNING homes, they are in the business of LENDING MONEY. An REO property is a bad thing for the bank but a good thing for a home buyer! I like dealing with REO properties a LOT more than short sales! The preliminary work has all been done. The foreclosure is over, the negotiations are over, there are no "people" involved (as in home owners) and it's just a "business deal". The emotions are gone, the sadness is gone and it just comes down to the calculator! I like that! I get caught up in all of my short sales. I tend to take on the worries of my sellers. I want so desperately to help them, and more often than not, I can't. The lenders just take too long to decide on whether or not they'll take offers. The process takes so long, the home usually ends up in foreclosure....