Wells Fargo Short Sale Success!

All banks take too much time, ask for too many repeat documents, and overall just drag their feet in a short sale.  All of them!  Rarely is there an exception, but sometimes there is a single short sale that tries to break the mold.

One of our most recent short sales attempted to clear the air for Wells Fargo.  

We received a strong offer on a newly listed property within just a few weeks of listing the home for sale in the Southside area of Jacksonville.  The offer had contingencies of approval of inspection, approval of financing, and of course lien holder approval of the short sale.

Within 30 days, our hot shot attorney group had negotiated and gotten the short sale approval letter from Wells Fargo!  Will…

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A survey was completed of 50,000 practicing Realtors throughout the country and on average they expect prices to rise by 3.9% this year.  

Florida Realtors were a bit more aggressive with a 5% Florida overall rise in prices within the next 12 months.  

I also believe the prices will rise by 5% in the next 12 months, however the mortgage market is still very tight at the moment.  Not necessarily tight in the obvious ways of home buyers needing jobs, credit, down payment money, etc., but tight in the scrutiny applied to those factors.  

If/when the mortgage market loosens up a bit, and it will happen, I'd say we are in for ride!

Need to Sell Before you Can Buy?  

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Take Note:  Money Magazine is yet another source saying buy now!  

Why buy real estate in Jacksonville now?

  1. Home prices are still low in Jacksonville.  Low from their highs in 2006.  
  2. Home prices are rising in Jacksonville.  I'm betting by as much as 5% in the next 12 months!  
  3. Mortgage rates are ridiculously low.  Mid to high 4's are historic lows and some estimates are this will be the last we see of these for several decades.  
  4. Mortgage rates are rising!  Most estimates state they will rise by a full 1% point this time next year.  Of course, it'll be a steady rise, so everyday you wait could cost you more money on a monthly basis. 
  5. BONUS:  Jacksonville is widely seen as an undervalued market.  If you are buying a home to live in…

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