Not a surprise on this map. Just about every area of Jacksonville is down in value as is most of the rest of the free world. Even some of the “Best Locations” suffer equally as bad in this real estate down cycle.
Some of the North Jacksonville homes are actually appreciating. Zip Codes for appreciation are 32202, 32206, 32208, and 32209. Again, no surprise. The areas in red are made up of very affordable housing that doesn’t take much increase in price to affect the overall %.
The 2nd quarter map is due out in July, and I anticipate more price depreciation from 2008 numbers as most of us do. Further increasing the affordability of homes in Jacksonville for today’s home buyers while further decreasing the overinflated prices from the housing bubble.
Jacksonville Real Estate Agent – Jacksonville Realtor – Jacksonville RE/MAX
Jacksonville Homes have Dropped in Value
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Based on a new survey from Zillow, homeowners believe their homes are worth less now than 12 months ago. Zillow’s official numbers point to about 80% of homes ARE worth less now than 12 months ago.
This is not easy for most of us to hear, but most of us do agree. The important information is that your home does have value, but you must price it accordingly when you are ready to sell.
If you are trying to get a value for your Jacksonville home, you have several options:
- Zillow for a Zestimate
- Jacksonville Realtor for a CMA (Comparable Market Analysis)
- Home value estimator from many places on the web.
- Licensed Appraiser
In my professional opinion……ALL METHODS ARE FLAWED.
The only true way to value a home is based on what a Buyer is willing to pay for the home. Once under contract, the value is set, and once the home closes, the value goes back to fluctuating.
Pricing your Jacksonville Home For Sale is part science and part strategy. Ultimately, you want the home to sell fast and for the most amount of money with the least amount of stress. Pricing the home correctly from the beginning will help you achieve your goals, but remember prices are down, so be realistic!
Jacksonville waterfront homes have also been hit with value drops. The old saying, “Rising waters raise all boats” should also include “dropping waters drop all boats”. Values are down in waterfront homes, but the demand is always strong.
As always, use a professional Jacksonville Realtor to get your CMA and pricing strategy. Let’s get it sold!
A few articles that may interest you:
Don’t be a Chicken
All Sellers are Motivated
Tips to Sell your Jacksonville Home
Jacksonville Realtors – Jacksonville Real Estate Agent – waterfront homes
