More positive news for Florida Real Estate

Stand back!  The positive real estate news has started!

Many are calling the bottom of the housing market this past April as more stats keep hitting the market on sales volume and pricing.  For now, there are still too many homes on the market to meet the demand which would point us towards the supply and demand curve of our Econ 201 days.  However, it appears to be picking up and there is even a a little buzz in the air.

This is a short round up of the latest news housing news:

Case Shiller Report: This report indicates 95% of markets are seeing home price improvements.  That's 95% of the markets they track.  Their gauge isn't exactly scientific as it only tracks 20 markets.  That being said, it is…

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The real estate market has presented an incredible opportunity for Florida vacation home buyers.   Values have dropped off their highs in 2005 and many sellers are now very willing to start negotiations at much lower prices.  This has prompted many vacation home buyers to get back in the market.

What's most important for Florida vacation home buyers? If you were to ask 10 prospective buyers the same question, you would get several common answers:

  • Proximity to the beach or ON the beach
  • Golfing in the community or very close by
  • Waterfront home or boating access
  • Close to the airport for easy access
  • High Quality medical facilities nearby

TOP 2 Misconceptions of Florida Vacation home buyers:

  1. Condos Only: Some vacation home…

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I've had continued interest from waterfront home buyers looking for foreclosures and  bank owned homes in Jacksonville and Ponte Vedra FL.  There are several great deals out there on these homes, but you have to know where to look.

Searching for Waterfront Foreclosures?

Bank Owned Waterfront Homes: I did a quick search this morning and found 10 homes that are waterfront bank owned homes.  These are homes that are classified as "navigable" waterfront.  A list of 10 is not many, but they are sure to result in a good deal for the right buyers!  A bank owned home is a home that has already gone through the foreclosure process and has ended up back in the banks hands.  The banks don't want these homes & they take legitimate offers from legitimate…

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Say the word "Short Sale" around any group of real estate agents in Jacksonville, FL or any where else in the country, and you should just sit down and get ready for a lengthy debate.

Some agents absolutely despise working with short sales and simply won't work with them as a seller's agent or a buyer's agent.  A few real estate agents specialize in short sales regardless of their feelings towards the often difficult process.  Home buyers and sellers are frustrated too.  

What's the issue with Short Sales?

  1. Banks' inefficiencies: The banks are a complete mess.  Most have little to no processes set up for doing short sales.  This is the root problem for most complaints.
  2. Paperwork mess: Unless the homeowner and real estate agent are very…

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Need a Short Sale real estate agent in Jacksonville FL?

Why go through foreclosure if you can Short sale the home in Jacksonville?  Wiki definition of short sale here. If you are underwater in Jacksonville, FL, here is the correct path to take if you have a hardship and need assistance:

  1. Loan Modification: If your home is too far upside down in value - don't bother doing one of these.  You will just be financing an over valued property that may take a DECADE before you break even.  Go to step 2 below.
  2. Short Sale: You must qualify, but this is option #2.  The house is sold out on the open market for the going market value....which is typically much less than is owed.  The lenders are much more open to taking a short sale in today's market.  The…

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Jacksonville FL Waterfront Homes Market Update

The market for Waterfront homes always has a strong demand even in tougher real estate markets.  This year is no exception.  In a housing market where most sales are coming from 1st time home buyers and deep discount bargain shoppers, there is a continued demand for this special type of home and property - Waterfront homes.

Over the past 90 days, there has been 34 sales of Navigable waterfront homes in and around Jacksonville, and 4 sales of oceanfront homes on the first coast.

As many home buyers are benefiting in the decline in market value of most every home in Jacksonville, many home shoppers have a potential to also consider waterfront living as a now reachable option in their home search.

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Home Sales are picking up!

Driven by the 1st time home buyers programs in Jacksonville, the $8000 home buyer tax credit, or the amount of good deals on the market, buyers are out looking for homes.

I've seen a noticeable change over the last few weeks in the number of calls and inquiries from this website and several other websites that we syndicate listings to.  Many of my friends who are real estate agents in Jacksonville are seeing the same uptick in business.

The builders (new homes sales) are absolutely seeing a pick up in new home sales.  Check out this new home sales report here. The resales are also seeing a big pick up in every area of the country, however the south has been lagging behind the other areas. 

If you are considering a…

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Jacksonville waterfront homes : Google

If you found this website through searching for waterfront homes in Jacksonville, the site most likely popped up on the first page of Google.  This has not been easy!  Anytime you hear someone say, "I'm putting together a website and we are doing keywords so it will pop up first on Google", quietly laugh to yourself.  It's not that easy.

Through much study, collaboration with other realtors and companies around the country, and a very competitive drive, I have over the course of the better part of a year started to see page 1 more and more frequently.

Why is this important to you?

Waterfront Home Sellers

If you have a home to sell, a waterfront home in Jacksonville or Ponte Vedra, your potential…

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Is the real estate market slower than in 2005 - Yes absolutely.  However waterfront homes in Jacksonville are still selling.

Waterfront homes are unique - especially in Florida.  There is only so much waterfront and there is only so much time left in this incredible buyers market.  If you have a waterfront home to sell, know your buyer:

  • Your buyer wants a deal.  Not a deal compared to 2005, but a deal for today's market.
  • Your buyer is concerned about the value/investment.  He is very likely to pay cash or get a portfolio loan in order to purchase your home.  He wants lower risk.
  • Your buyer is combing over the internet.  Over 90% of ALL buyers are shopping on line.
  • Your buyer may be an international buyer.
  • Your buyer either wants…

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Currently the median time it takes to sell a waterfront home in Jacksonville and the surrounding areas is 155 days.  This number is taken from the Multiple Listing Service statistics of homes that have sold that are waterfront and navigable (dockable homes).

This is an interesting number of days considering the obvious higher price of waterfront homes versus other homes on the market.  What this should prove is the attraction for waterfront is still strong.

Another interesting find is the Median % price change is a 15% decline.  This is the % decline from the list price to the sold price.  Considering the market - this is good.  A "normal market" typically brings an 8% decline as most homes average 92% of list price to sold price.  Again, 2 good…

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