I've seen the slow shift since mid-summer-ish, and it looks like it is official.

Banks Want you to Short Sale vs. Foreclose

It appears as if most banks have finally gotten to the point of acknowledging that short sales are a much better alternative than chasing down properties through the foreclosure process.  In some states the foreclosure process takes years, and Florida is no exception.  The average foreclosure time in Florida is well over 600 days!  That's almost 2 years!  Why would a bank want to keep lawyers employed for 2 solid years while wading through the court systems?

Apparently, they don't want to mess with foreclosures any longer if the home owner is willing to short sale.  (Some banks are still a mess - I'll keep their names out of…

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The "robo signing" roadblock heavily slowed the banks' willingness to move forward on foreclosures, but the times have changed.  Nationwide, reports are popping up that foreclosures are back on the rise and Jacksonville Florida is not spared.

Foreclosures rise 22% in Jacksonville in the 3rd Quarter

Jacksonville Business Journal Story Link

That's 22% increase from the 2nd quarter for the entire North East Florida area.  That's a big increase!  The numbers are now 4,517 homes in North East Florida are now in some stage of foreclosure.

This sudden bump up in foreclosure activity tells me the banks are getting serious about ripping off the band aid.  I anticipate we see even more foreclosure activity in the next 12 months as banks stop stalling…

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Great report on Fox Business News about where to invest in the US.

Jacksonville is #1 for Real Estate Investment!

I've seen a lot of investor, all cash activity in the last few months which is a good sign that the smart money is getting back in.  What are they buying?  Deals!  Investors young or old, amateur or professional, all want the same thing, they want a deal.  They are buying up condos and townhomes for easy rentals, they are buying low priced homes all over the city and in St Augustine.

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Great report on Fox Business News about where to invest in the US.

Jacksonville is #1 for Real Estate Investment!

I've seen a lot of investor, all cash activity in the last few months which is a good sign that the smart money is getting back in.  What are they buying?  Deals!  Investors young or old, amateur or professional, all want the same thing, they want a deal.  They are buying up condos and townhomes for easy rentals, they are buying low priced homes all over the city and in St Augustine.

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