Jacksonville Beaches Real Estate

The number of short sales in the Jacksonville market continue to increase while the number of REO homes seems to be decreasing. There are a lot of foreclosed homes (REO) that are being sold for MORE THAN ASKING PRICE with multiple offers! There are often more than a dozen offers on a foreclosed home that is in good condition. The short sale market is absolutely dead at the moment. In order for a First Time Buyer to purchase a short sale, they should have placed their offer MONTHS ago! Short sales are taking 5-6 months to get to closing so they're not a good option for a First Timer trying to meet the November 30th deadline for closing. As the homes that have been on the market continue to sit there, more and more of them are becoming short sales as the price has to be reduced. The price drops and the status of the home becomes a short sale. It's brutal out there right now for SELLERS and it's GREAT out there for buyers! Interest rates are approaching historic lows and the...

This is a quick overview of the Jacksonville Market. Call me today and let's see if we can get you into a home before the Tax Credit expires.

This is a post written by a REALTOR in South Florida that explains the way a short sale and loan modification works. It's easy to understand and makes it all a little clearer. Worth the read! Is Your Short Sale or Loan Modification Being Turned Down? Has your short sale or loan modification been turned down and you have no idea why? Let's examine some of the reasons. These reasons may not make you feel any better or maybe they are just excuses by your lender, however there are a few things you may not even know about your loan. Let's say that you make your mortgage payment to Wells Fargo. You can no longer handle your payments so you ask Wells Fargo to modify your loan- to do a loan modification for you. You are behind in your payments. You are in fact, in foreclosure but you are still living in your home and the judge in your case has not ordered the sale of your home at auction yet. You are scared. You see your neighbors losing their homes all around you. You are hopeful...

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 i...

The $8000 Tax Credit, as currently written, expires on November 30th. If you've been considering buying a short sale, you might be too late! They have consistently taken 90-120 to close and with that in mind, you need to write a contract TODAY! Of course, there are a few weird exceptions that have closed in 60 days, but for the most part, a 90 day minimum is the norm. Please don't wait! There is a chance they may extend the credit and I hope they do! It's keeping the real estate market alive right now. BUT. There's just no guarantee that they will. If you have a short sale in mind; if you like it, you'd better make an offer right away in order to beat the deadline. Call me today for more information about buying a short sale and about how you might qualify for up to $35,000 of bond money!

Okay people. If you're a first time buyer you need to WAKE UP and call me. TODAY! For a very limited time in addition to the FEDERAL TAX CREDIT being offered -- you can get an ADDITIONAL $8000 from the City of Jacksonville by way of the City of Jacksonville Dept of Housing and Neighborhoods. Did you hear that? An ADDITIONAL $8,000 to use as a down paymnent OR closing costs or both. In addition to this money ($16,000), you might be able to get up to $25,000 in bond money and first time buyer assistance!! What are you waiting for?? Call me today! The money available to Duval county residents is being given out on a first come, first served basis. Call me today to get the process started before it's too late! Hurry!!

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.