A popular question in the short sale world:   I need to short sale.  When do I start the process?

Quick Answer:  Sooner the better.

We, the professional real estate community, have done a horrible job of educating the general public about the short sale process.  Many of the clients I have, have never heard of a short sale until their friend or family member tip them off.   And that's horrible - and I'll take part of the blame for that.

A short sale should be started the second you realize you can no longer continue making payments.  You can start the process at any point up until the day of the Foreclosure auction.  Obviously, if you intend to have a successful short sale, you should start well before the house is being auctioned off on the…

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Not a #1 that we want, but it's true.  Reported by my friend at the Jacksonville Business Journal, Ashley Gurbal, Jacksonville is the Worst Real Estate Market in the Country.

Her article is based on Thursday's report from Clear Capital's Real Estate Market Report.   The report highlights top performing cities and worst performing cities.  Jacksonville has overtaken Detroit to be the worst.

Stats making Jacksonville the worst:

-2.7% quarter over quarter decline in house values

-13.2% year over year decline in house values (that's from end of August 2o10 to August 2011)

33.5% Foreclosure/Bank Owned home sales per month (that's a lot)

Those are dismal numbers to end the typically strong summer home selling season.  A little worrisome…

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Recent article in Bloomberg referencing RealtyTrac's recent stats on U.S. home sales and distressed home sales.  The article states, "Home Short Sales Increase as Banks 'More Realistic' on Market".

In a nutshell, banks are agreeing to more short sales as the best alternative to foreclosure.  Something we the public already understand, however the banks have often times proven not quite as smart as us.

Proof the banks are a little off their rocker when dealing with short sales:

  • Will often counter offer an already strong offer.
    • Why piss off the very few lucky soles who can qualify for a mortgage in this tight lending environment?
  • Will counter offer above the market value.
    • Isn't paying more than market value what led us to the…

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This is a buyer's market.  There is no arguing that.  There are homes for sale on just about every street and around every corner. The good news:  Buyer's are buying homes in Jacksonville!

When buyers are shopping for homes, they are looking at 3 things:  Price, Pictures, and Location. And some homes in Jacksonville Sell Fast!

I recently had a listing that was getting limited showings.  I kept analyzing the data of recent sales and our competition currently on the market, and I kept arriving at the same conclusion....we are perfectly priced.  However, we were not getting showings which goes against my personal motto for selling homes: "Showings = Sold"

Community location within Jacksonville was one of the best.  Location within the community was…

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Jacksonville Short Sale Available for Sale - Marsh Front!

Top 5 reasons to see this Jacksonville Short Sale home before it's sold:

  1. Affordable Marsh Front!
  2. Privacy location within the community.  It's on a culdesac street with complete privacy.
  3. Short Sale priced right!
  4. Tidal creek that leads to the intracoastal is perfect for sea kayakers or small boat fisherman.
  5. Well established community with pride of ownership throughout neighborhood.

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Stats covered in this Jacksonville Waterfront Report:

  • January 1st, 2011 - August 18th, 2011
  • Single family homes only
  • Duval county only (Jacksonville)
  • Waterfront - Navigable to ocean

Year to date closed sales:  86 Total

Current active inventory:  267 Total

32% Active to Closed Ratio

Highest 5 sales:  $2.3mm, $1.8mm, $1.7mm, $1.57mm, $1.5mm

Highest 5 active listings:  $6.9, $6.5, $5, $4.5, $4

My professional opinion:

On the higher end of the pricing spectrum, waterfront prices must come down or be taken off the market.  There are 36 homes on the market above $2.3mm, which was the highest waterfront sale in Duval county thus far this year.  Sure, some of those are worth it to someone and will sell....sometime, but in…

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Chase is always an interesting short sale.  They typically take way too much time and make you jump through some serious hoops on the way to short sale approval.  However, this short sale was different.  Chase gave their approval early and then we waited forever for the 2nd mortgage approval.....Guaranty Bank.

Finally completed, this Seller was very happy that the process was fairly smooth.  The Buyer got a great deal on a great house.

SOLD in 35 Days! While neighboring homes sit unsold, this house sold fast.  Condition was very good and very clean.  We priced aggressively from the beginning and found a buyer fast.

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SOLD!  Another completed Short Sale in Jacksonville Florida.  This was a great house in Bartram Springs off Race Track Road.  Extra large lot....I mean extra extra large lot with room for a pool and volley ball and then some.

The Sellers were delighted to have this one completed and off the books.  The Buyers are delighted with a great house at a great price.

Tip for a successful short sale: Continue with lawn irrigation and maintenance.  The sellers of this property were not local, but maintained the property both inside and out which attracted much attention from home shoppers.

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In the last year I've had several very fast sales.  I qualify fast as less than 30 days, also see car image to left.  They were so fast that I actually decided to brag a little and put a few of them front and center on the home page of this site. They were so fast that on several I didn't even get the for sale sign back from the sign company before they were sold.

Why did these Jacksonville Homes sell so fast?

  • Condition:  The sellers not only kept the houses up to date, but also repaired any issues pre-listing.  With such a competitive landscape of homes for sale, buyers are very picky.  They deserve to be!
  • Clean:  Condition and Clean are two separate things.  Condition is quality of home finishes like base boards, doors and windows that work,…

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Looking for a home in Julington Creek in St Johns Florida?  This is a great buy on this Short Sale.  Between Durbin Creek Elementary and Fruit Cove Middle, this home is one of the most sought after school districts in Florida.  Large open living spaces and a quiet, private outdoor space including a screened in Lanai.

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