We are right back where we started!
My wife and I always kick ourselves for not buying the little home we rented when we first moved to Jacksonville in 2001. The house was just south of San Marco in an area called Miramar. It was a great little red brick house with 3 bedrooms and a great big back yard.
At the time, we were young and watched Jacksonville home prices go from affordable to just out of reach. When we moved into the house, the neighborhood pricing was around $160,000. By the time we moved out 2 years later, prices were north of $190,000 and most were well over $220,000.
As we bought our first Jacksonville Home, sold, and moved up several times, we always kicked ourselves for not buying one of those houses back in the San Marco – Miramar area. I drove through the old neighborhood at one point and found a home that was For Sale By Owner and priced over $390,000……..this was at the height of the overinflated market pricing.
Over this past weekend, I drove through and found a home priced at $178,000. Honestly, that is probably a good deal and one of the only ones for sale at that price in that area. However, it’s good to see anything under $200k these days!
As a Jacksonville Realtor and Jacksonville Real Estate Agent, working with 1st time home buyers is often limited to Town homes or Condos when searching homes in the Southside area. With the reduction in value for all homes in Jacksonville, this finally gives 1st time home buyers more opportunities and more to choose from in all areas of Jacksonville.
So for all those Jacksonville people who missed the crazy appreciation and run up in prices by renting through the real estate boom……no worries! We are starting to slide back to where we started & you can capitalize right now by finding a great deal on Jacksonville Real Estate with a record setting low mortgage rate!
