2012 Jacksonville Real Estate Predictions

Posted by Brad Officer on Tuesday, January 3rd, 2012 at 5:18pm.

Jacksonville Real Estate Predictions

  1. The Jacksonville Real Estate market will continue to improve.
    • Improve means more sales, it does not mean increase in prices.
  2. Jacksonville real estate prices continue to decline.
    • Less declines in the low $100k - $200k range  (this price point is HOT!)
    • Faster and more declines in the $300k+ range
    • As unemployment in Jacksonville currently remains one of the highest in the country, and Jacksonville being one of the most over built and biggest price bubbles in the country, I don't believe we are out of the woods yet.
  3. Supply of houses for sale stays high.
    • Early spring to mid summer, I anticipate a flood of new listings based on many of my contacts.
    • Foreclosures are widely noted to be resuming and will start hitting the market again.
  4. Non-Distressed Sellers accept reality.
    • the reality that their home's value will not miraculously bounce back to 2006 levels.
    • the reality that that 1 special buyer isn't falling in love with their over priced house.
    • We see non-distressed sellers finally getting aggressive with pricing.
  5. Significant increase in Short Sales.
    • Many who have been barely hanging on, finally accept their temporary fate.
    • More short sales in higher priced neighborhoods are sure to come this year.
    • Many who have not been paying the mortgage finally decide to be proactive versus living in fear of the day they get kicked out for good by the bank.
  6. Real Estate becomes a smart investment.....again.
    • With much talk of lowest interest rates and bottoming prices, real estate investing will get hot again.
    • The smartest investors go with the buy and hold, vs flipping.
  7. Rental prices keep rising
    • If I had a dollar for every call I get.....
    • As more x-homeowners become renters, demand is increasing
    • Further evidence that real estate continues to be a great investment
  8. The year of the best deal
    • 2012 may very well be the perfect storm for the perfect purchase
    • Rates are historically low, plenty of inventory to choose from, prices are very low, affordability is very low
    • Jacksonville has been noted nationally as one of the best buys for real estate investing
    • If we all agree the bubble officially burst in 2007, it's been 5 long years of historic price declines, 6 counting 2012.  It's only a matter of time before we start seeing a slight upward trend again.
    • Even I'm shopping for another home this year!
  9. Sellers and Buyers continue to hear real estate news differently
    • "The market is improving", "Increase in foreclosures", "Prices are rising in some areas", "Year over year sales are up", "Delinquency rates rise", etc.
    • Buyers always hear the "prices should be lower" news
    • Sellers always hear the "real estate market is rebounding" news
    • It will take smart real estate agents to help their buyers and sellers decipher the news as it relates to their specific market and neighborhood.
  10. Fewer Jacksonville REALTORS than in 2011
    • year over year, the number of REALTORS in Jacksonville has declined since 2006
    • It's not cheap to stay as a non producing member, so many of the part timers finally relinquish their status as a REALTOR.
  11. Brad Officer & Company continues the pattern of growth and outperforming the average
    • For 2011 we did 3.75 times more transactions than the average REALTOR
    • The average REALTOR spends about $630 annually on technology....we see technology as an investment as opposed to an expense and we continue to divert cash towards it, and far more than the average.
    • The average REALTOR spends $250 annually on their website.  I think it shows in their sites!
    • Our #1 measure for customer satisfaction continues to rise:  Referrals from previous clients!
    • I track everything, and all categories are on the rise:  Buyer inquiries, website search sign ups, Seller inquiries, new listing appointments, new listings taken, hits to the website, google bing & yahoo searches, and the absolute most important:  CUSTOMER Satisfaction.

Thank you in advance for Sharing!

 

Give us a call at 904-234-5196 if we can help you buy or sell real estate in Jacksonville, FL.

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Listing information last updated on October 20th, 2019 at 7:38pm EDT.