Jacksonville Beaches Real Estate

As they say, "the numbers don't lie".  The Beaches area markets are all over the place! Without giving out TMI (too much information), I'll give you the hightlights and the lowlights of the Beaches market. I'll give you the condensed version. Jacksonville Beach has fewer listings than it did in Oct 2010 (-31.7%) but the median sales price price was up 9.1% ($232,300.00) over October 2010.  Year to Date in Jax Beach median sale price is up only 1.4%.  BUT---the key word here is UP! Inventory is down 24.3% from the same time last year. We are down to a 7 month supply of inventory in Jacksonville Beach. That's a GREAT thing! Neptune Beach took a huge hit on the median sales price. It was down a whopping        -59.7% compared to October of 2010. Year to date numbers are a whole lot better -  up 16.7% to $280,000.  The median sales price in October 2010 was $501,500 and this year the median sales price was $202,000....

I've finally stepped out of my comfort zone and decided to try and list some REO properties! I'm a little spooked about it. I've heard the lenders can be difficult to deal with but I think I can handle it! You know that there are plenty of these listings to go around. I am so detail oriented and have been accused of being a little TOO concerned about the "small stuff". I have created a web site and would appreciate any comments about it. It's simple, all I wanted to do was give people a way to get in touch with me. In the meantime.... I've started doing BPO's. These are Broker Price Opinions and are critical in the process of selling a short sale. When the lender gets an offer on a property, they order a BPO so they'll know if the offer is a good one. They are time consuming but I think they'll keep me very active in my market. I will also have a better understanding of how to help MY buyers make offers the lender would accept. I won't ...

Sales in Jacksonville increased over last years numbers. There were 701 "normal" sales and 614 "distressed" sales in September. Inventory dropped an incredible 32%.  Guess what?  We're almost down to a "normal market". When we have a 5-6 month supply of properties on the market, we're considered "normal". In September we were down to a 7 month supply. Along with the good news, there is some bad news (for sellers anyway). Prices on normal sales dropped 6.5%  and prices on lender mediated (short sales and foreclosures) ROSE 4.5%!!! So in a nutshell: inventory down. Foreclosure prices up. Normal sales prices down. We are very close to a "normal" market!!!

Posting this story has become a tradition for me! I didn't want a year to go by without posting it. Unfortunately, the story rings true today like it did many years ago.................................. Halloween Horror Story for a REALTOR Once again it's time for me to repost the scariest real estate story ever! It's become an annual tradition to repost this article. I call it my "List Em and Leave Em" post. Don't let this happen to you! The names have been changed to protect the slackers and the victims... I continually hear people say that their realtor bugged them for weeks to get them to list their house with them. They finally agreed to list it and they never saw the REALTOR again!! I'm not exaggerating! Check out this story.... New example of a "list em and leave em" real estate company Wednesday, May 02, 2007JANESVILLE, Wis. - A couple checking out a house for sale were shocked to discover the 55-year-old homeowner dead in...

Home sales up 12.9% in NE Florida From WOKV News Talk Radio Jax Jacksonville, FL — In February home sales were up 12.9% from a year ago in northeast Florida. The Northeast Florida Association of Realtors is reporting sales are up but prices are down 12.9%. NFAR communications director Melanie Green says most of the homes sold last month were not traditional sales. "The sales that occurred in February were weighted heavily by lender mediated sales, those are your foreclosed and short sales." She says that's a bit of bad news but it does indicate that investors are coming back into the market. We also heard from consumer warrior Clark Howard. He says right now is the perfect time to buy, the reason being that the timing is right. "If you're buying a home now, man everything is smiling on you, the prices are phenomenal on the homes, the cost of money to borrow and finance those homes is still great, and this is not a gotcha this is an opportunity....

I read this today and thought it was definitely worth sharing. Working with a Real Estate Professional is More Important Than Ever in Today’s Real Estate Mark   RISMEDIA, February 17, 2011—In a landmark study examining the home buying and selling preferences of consumers in the Mid-Atlantic region, 95% reported that working with a real estate professional is just as important, if not more important, than it was just a few years ago. The survey results were released in a new research paper entitled Keepin’ it Real , by MRIS, the area’s Multiple Listing Service (MLS) and a leading developer of real estate information technology. According to the report, which can be found on www.MRIS.com , today’s consumers recognize this is not the time to complete a real estate transaction on their own, and are placing a stronger emphasis on the agent’s professional skills. As such, trustworthiness was ranked as the most critical factor in choosing an agent, followed by experience, ...

There are currently 328 homes listed for sale in Jacksonville Beach.  Of those homes, 11 are foreclosures and 75 are short sales. If history repeats itself, of those 75 short sales, most if not all of them will become foreclosures. The lenders are just not motivated to help us clean this market up. I was told by a local real estate attorney that specializes in short sales that the lenders make a LOT more money if they sit on a short sale than if they accept an offer and take a hit on it!  They'd actually rather let it sit on the market a long time and then foreclose on it!  What a mess!!! Call me today if you'd like to snatch up one of the deals in Jacksonville Beach.  I'll be happy to help.

Great article in the Biz Journal today. Here's a little snippet for you to ponder . Jax ranked No. 4 for in the nation for home sales in January Jacksonville Business Journal Home prices in Jacksonville improved by 3.5 percent quarter-over-quarter, according to the report, though they were down nearly 8 percent year-over-year. Real-estate-owned saturation, which Clear Capital defines as the percentage of REO properties sold compared with all properties sold in the last rolling quarter, was nearly 30 percent in Jacksonville. Could it be that we've hit bottom??

Currently there are 18 homes that are HUD owned or bank owned properties in Jacksonville Beach. These homes are priced at $48,000 to $370,000. Contact me today for detailed information on these homes and any others in the Jacksonville area. Better yet, please set up your own ListingBook account to search the MLS like a pro!  When you need more info--you can contact me in ListingBook.

I found a great site that I think you'll find VERY helpful.  It answers a LOT of questions you may have about your house and what steps you need to consider taking to save it. Visit this site today. Call if I can help.

Wow! Condo sells in Jax are up a whopping 90%. Yes. You read that right--90%. The median price of a condo in Jax dropped 42% to $74,200. That's the second highest drop in the state. NOW IS THE TIME TO BUY A CONDO! And it's the time to buy a single family home. Prices are LOW and interest rates are still incredibly low. If you've ever wondered if you could qualify for a loan to buy a condo or a home, give me a call or shoot me an email. I'll be happy to put you in touch with some really good lenders.

Great house in family neighborhood! Posted using ShareThis

This is an amazing segment on people that are walking away from their mortgages. It's not just about that, it's very educational as far as the numbers go. It's unbelievable how many people are "underwater" right now. Are you in trouble with your mortgage? Don't walk away! Let's salvage some of your credit with a short sale. Call if I can help. Watch CBS News Videos Online

Oh well. Later tax credit. I am happy for those that used it if you found a house you REALLY love. I'm proud of the ones that didn't "settle" for a house to get the 8 grand. It's not worth it if you don't love love LOVE the house you're buying! If you can't see yourself in a house for at least 5-7 years, then maybe you shouldn't buy it. I think if the current trend in the Jacksonville area continues, you'll be able to get a good deal this summer. It was great while it lasted but it was time for the credit to go away. We need to see what the market is REALLY going to do now that the incentive is gone. There are bargains to be had! The prices continue to drop very slowly, but they ARE dropping. Let's go find you a house today!

APRIL-2010 Newsletter Housing Trends eNewsletter Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general. The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau and Realtor.org reports, videos, key market indicators and real estate sales statistics, a video message by a nationally recognized economist, maps, mortgage rates and calculators, consumer articles, plus local neighborhood information and more. Please click here to view the APRIL-2010 Newsletter Housing Trends eNewsletter. If you are interested in determining the value of your home, click the Home Evaluator link for a free evaluation report.

http://newstouseinjacksonvillerealestate.housingtrendsenewsletter.com?Newsletter_ID=247

Okay all of you procrastinators! It's time to get very serious about finding your first home! Time is of the essence! Please don't hesitate any longer. You must have a "fully executed" contract by April 30th with a closing date before June 30th. That's really cutting it close! Today is April 14th and you've got 16 days to find a house! Please don't wait any longer. There are currently 3338 homes in the price range of $120,000 to $190,000 listed in our MLS. Let's go look at a few of them this weekend! :-) Call me today if I can help. We'll find something in time if you're willing to start looking with me TODAY!

The numbers are in and it's amazing! The real estate market in Jacksonville is blazing hot!! Sales for Jacksonville number of "solds" is up 23% over last year! The number of homes currently under contract is up over 39%. Wow! I'm not sure if it's the First Time Buyer credit that's driving the market or if it's because of the new, lower prices on the existing inventory. I don't know what it is... but I love it! We'll know soon. The Tax Credit expires on April 30th. If you've been considering buying a home...NOW IS THE TIME! Call me today!

Okay First Time Buyers out there. You have 41 days left before the Tax Credit ends! That may seem like a long time but trust me--by the time we look at lots of houses, we'll need every single one of those weekends to go look.That will be FIVE weekends to be exact! Not very many. There continues to be more activity in the 125-175 dollar price range. There are even rumors of multiple offers. It seems like all of the buyers are looking in the exact same price range and in the same areas! Please don't wait too long. Time is running out. Don't miss this opportunity to get a $8000 Tax Credit. Call me today and let's get busy!