I have been working with many homeowners lately that are in a distressed financial situation. They aren’t able to pay their mortgage any longer and are looking at alternate solutions, like a Short Sale and, in extreme cases, foreclosure. Unfortunately, this has become quite a common occurrence, which is why there are so many foreclosures in Jacksonville and the rest of the Northeast Florida real estate market. As the homeowners make these difficult decisions, they feel grief and sadness. It is my job to help my clients with their real estate transactions, however, as I work with them they become my friends too. And I want to help alleviate their stress and get them to a brighter tomorrow. So I did a little research to get a better understanding of what they are going through. I realized that the stages you go through when you are losing your home are the same stages as when you lose a loved one. After any significant lose, people experience the five stages of grief. They are:
1. Denial and Isolation- At first, you tend to deny the loss has taken place.
2. Anger – You may be angry with yourself for letting the event take place, even if, realistically, nothing could have stopped it. (more…)
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“I would recommend you to all sellers and purchasers…”
Those are words that every Realtor dreams to hear and it isn’t the first time that Davidson Realty agent, Beverly Morse, has heard them. That quote comes directly from a letter written by one of Beverly’s clients after she sold their house in two weeks.
Beverly’s fascination with beautiful homes and decorating drew her into real estate. She also believes her past career led her to where she is today. She says she has been in service related jobs her entire career, so it seemed natural to combine working with people and helping them find the ideal house for their family. (more…)
The positive trends that we have seen in the Northeast Florida real estate market are continuing.
• Pending sales and closed sales for September, 2009 have increased over the previous month and the previous year.
• The inventory of homes in Jacksonville, FL is down from last month and last year.
• Prices of homes in Jacksonville, FL are down slightly from last month but the change is much smaller than we have seen in past months.
• Prices of homes in St. Augustine in the 32092 zip code have increased slightly. The 32092 zip code includes World Golf Village, Murabella, Sevilla, St. Johns Golf and Country Club, South Hampton and many more. The average sales price in 32092 was $179,860 in the first quarter of 2009, $206,254 in the second quarter, and $217,893 in the third quarter.
There is also good news to report regarding short sales. We are handling many short sales and they are complicated and frustrating; however, the process is improving over what we have experienced in the last couple of years.
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The housing crisis and financial crisis in the U.S. are causing tremendous stress and heartache for millions of families across the nation who are affected by the prospect of foreclosure. A majority of those homeowners will endure the foreclosure process without the guidance, assistance or advice of real estate professionals.
Real estate professionals with the Certified Distressed Property Expert® (CDPE) designation have trained extensively to understand the options, solutions and most effective methods for dealing with homeowners facing hardships; and Northeast Florida’s Davidson Realty, Inc. has a Distressed Properties division and 25 CDPEs on staff to provide solutions for homeowners facing hardships in today’s market. (more…)
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The Northeast Florida Association of Realtors released their July 2009 market statistics. I see some very encouraging trends for the real estate market in the Jacksonville and St. Augustine area.
The total number of active listings or properties available for sale is down 18.1% from last July. Since there are less homes for sale and increased sales activity, there are 13.1 months supply of inventory on the market. Even though 6 months supply is optimal, our inventory number is much better than last year when there was 17.0 months supply available.
The median sales price and the average sales price seem to have stabilized. The median price was $160,000 in June 2009 and is $159,800 in July 2009. The average sales price was $192,430 in May 2009, $184,015 in June and (more…)
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