Jacksonville Real Estate Trends in October – Market Rebounds After Hurrican Irma

November 29, 2017

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“Feeling gratitude and not expressing it is like wrapping a present and not giving it.” William Arthur Ward
The October market stats compiled by the Northeast Florida Association of Realtors show our local real estate market rebounded quickly after Hurricane Irma. That is very good news, but many housing experts are predicting a wave of foreclosures in February due to the storms. It is difficult to collect insurance until contractors are lined up to make repairs and many homeowners are waiting months for construction companies to get to the work. Some homeowners may just walk away.
Pending sales for October jumped 20% over last October. We are up 5% year to date. Closed sales are up 6% over last October and 1% year to date.

Our median and average sales prices are up over 10%. Out of the country’s 50 largest housing markets, 31 have returned to their levels during the last housing bubble (62 percent). Our market is getting closer to the peak pricing of 2005 and 2006. “As we compare today’s market dynamics to those of a decade ago, it’s important to remember rising prices didn’t cause the housing crash,” says realtor.com Chief Economist Danielle Hale. “It was rising prices stoked by subprime and low-documentation mortgages, as well as people looking for short-term gains – versus today’s truer market vitality – that created the environment for the crash.”

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Jacksonville Real Estate Trends in July – Low Inventory & More Buyers!

August 31, 2017

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“The question should be, is it worth trying to do, not can it be done.” Allard Lowenstein

This quote really spoke to me as I watch how fast the real estate industry is changing and how we are constantly looking for new ways to thrive in this industry regardless of whether our specialty is developing communities, building homes or selling homes. We will all keep looking for better ways to meet the needs of our customers. Read more

Jacksonville’s Real Estate Trends for May Continue to Show Pending Sales are Still Booming!

June 27, 2017

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“Every man’s life is a fairy tale written by God’s fingers.” Hans Christian Andersen

My husband’s life truly is a fairy tale thanks to an organ donor. We are celebrating 9 years since Jim’s transplant and we count our blessings and friends every day.

The Northeast Florida Association of Realtors market stats for May are extremely positive. The pending sales in May of 2,839 are 6% more than last May and we are up 5% year to date. The last 3 months our totals are higher than the number of transactions in the peak of the market in 2005 and 2006. We are continuing to see strong buyer activity. Read more

Jacksonville Real Estate Trends in January – It’s A Seller’s Market!

February 21, 2017

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“Don’t fear failure. Fear being in the exact same place next year as you are today.”

Dr. Sean Snaith, the Director of the Institute for Economic Competitiveness at the University of Central Florida released the Florida forecast in December 2016 for 2016-2019 and the report is very encouraging. He is predicting Real Gross State Product (RSGP) to grow an average of 3.7% annually in 2016 through 2019. Read more

Real Estate Trends in April – 3 Reasons Jacksonville is NOT in Another Housing Bubble

May 23, 2016

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“Live as if you were to die tomorrow. Learn as if you were to live forever.” Mahatma Gandhi

As I continue learning and reading articles about the real estate market, I have seen several references to another housing bubble. I am in complete disagreement with the theory that our market looks like the market 10 years ago. My reasons for disagreeing are: Read more

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