Our team has been running wide open for months now!

The summer buying season hit and it has been another great summer as Jacksonville home prices are so affordable and rates are at historic lows.  It's been the perfect storm for those who can purchase and those who can sell.

In Jacksonville we are still seeing about half the market as distressed sales, which is made up of short sales and bank owned sales.  This is a trend I don't see letting up anytime soon. 

Despite all the positive real estate news, the fact remains the values of properties dropped in Jacksonville by some 30-40%+.  It will take a long time before many of those home owners are back to even.  Add the high unemployment above 9% and I believe we will continue to see distressed sales for quite some time. 

Those who CAN buy are met with less choices.  The frenzy of the summer (which is normal) has left fewer and fewer good homes available on the market.  This is great for new sellers who have top condition houses and choose to price appropriately. 

Many of our listings are hitting the market and receiving multiple offers within the first 30 days!  This is fully due to the condition of the home, the appropriate pricing, and the marketing of the listing.   In many of these cases the sellers are short selling, but remember a short sale must be sold at today's market value.....not much less or the banks decline the offer.  Sellers are happy to get it sold quickly and have the bank make a quick decision to approve the short sale.

It's a good time to be in the market for home, and a great time to sell a home in good condition! 

Posted by Brad Officer on
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