It was only a matter of time before we started seeing a bounce in the luxury real estate category in the Jacksonville and Ponte Vedra areas, and it looks like now is the time.

Million dollar home sales in Jacksonville are up 42 percent year over year in the first quarter.  37 homes sold in the first quarter for a million or more!

Who is buying up the million dollar properties?  The smart money who knows when to get in, that's who!  What the smart money knows:

  • Prices are low low low
  • Price declines won't continue forever
  • Home owners are willing to heavily negotiate.....for now
  • Interest rates are very low
  • They are using the market to their advantage!

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Real estate values in Jacksonville have been declining for years, and 2011 looks to be holding steady with the trend.  Several reports are out stating that we are back to 2003 values.

Home Buyers:  Should you buy a house in 2011?

That's an easy question to answer:  Yes, IF you plan to live there for 5+ years.  No, IF you know you will be moving within the next few years.

Reasons to buy a home in Jacksonville this year:

  1. Inventory: Plenty of homes on the market to choose from.
  2. Interest Rates: If you haven't heard the radio blasting commercials, interest rates are at very very low rates.  Buy more home with less money.
  3. House Prices: See graph above.  Prices are down, so again more house with less money.
  4. Timing: This won't go on…

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Question of the week:

Can I sell my home if I'm in Foreclosure?

Answer: Absolutely you can sell your home once in Foreclosure!

In Florida, your foreclosure begins once you have been served papers which is technically called Lis Pendens.  This is the legal notice that your lender is bringing a law suit against you in order to legally take the property.  From this point you are in Pre-Foreclosure.

During the Pre-Foreclosure stage the lien holder will keep moving forward through the legal system and eventually have a hearing where the auction date/sale date will be set.

At any point during this long process, you have the ability to sell your house.  HOWEVER, time is of the utmost importance!  The sooner you make contact with us, or any other…

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