Davidson Realty, Inc.

Jacksonville, Florida Real Estate Trends in August 2010

September 29, 2010

 | 
Posted by in Northeast Florida Market Trends

So, last month my marketing team was picking on me about being bitter and a “negative Nancy” when I wrote my market statistics. And, I tell them you try to make the worst month in real estate (as proclaimed by the media) sound good! With that being said, I must admit I would have needed a lot of champagne to put a positive spin on the numbers for August, too. I really am an optimistic person and I do truly believe this market will turn, but I can’t find a positive way to tell you that 51.4% of all closings in the Northeast Florida Association of Realtors (NEFAR) market area for August 2010 are lender mediated sales which is a foreclosure or a short sale. However, I can share some more information, some good and some bad, about Jacksonville FL real estate in August.

“Real optimism is aware of problems but recognizes solutions; knows about difficulties but believes they can be overcome; sees the negatives, but accentuates the positives; is exposed to the worst but expects the best; has reason to complain, but chooses to smile.” William Arthur Ward

We all need to read this quote a couple times a day!

Pending sales are 16.6% higher in August 2010 than in August 2009. The current trend is also positive. June 2010 pending sales were 1,455, July was 1,560 and August is 1,632.  Read more

Comments currently closed.

What is a Short Sale?

September 23, 2009

 | 
Posted by in Distressed Properties, News, Short Sales

Short Sales Defined“Short sale” is a term I have heard a lot lately. I knew it referred to when a home owner sold their house for less than what they owed on it – with the lender’s approval. But I wasn’t exactly sure how it worked. So, when I was having coffee with Mirtha Barzaga – a Realtor at Davidson Realty, who is a Certified Distressed Property Expert (CDPE) and sells real estate and foreclosures in Jacksonville – I asked her about it.

She told me a story about a recent transaction she had done with her teammates, Juana Hausted and Pauline Cake, to show me how it works with the help of a professional. A Navy officer couple came to her when they were transferred from Florida to Virginia. They had bought a house they loved in World Golf Village three years ago, but the housing allowance wasn’t enough to keep it after their move. Mirtha explained they tried to modify their loan Read more

Comments currently closed.

Short Sales Made Easy with Laurette Martin

September 11, 2009

 | 
Posted by in Distressed Properties, News, Short Sales

Laurette MartinI wanted to share a happy short sale story from a customer of Davidson Realty agent Laurette Martin.

“I would like to pause a moment and give a big THANK YOU to Laurette Martin for the work she did on the short sale of an investment property I owned in Turnberry in the World Golf Village. After the death of my husband, I just couldn’t keep up with the bills and upkeep. Renting it seemed impossible and the bills kept mounting. I was seeking a deed in lieu of foreclosure with my lender. Fortunately, Laurette knew just how to handle all the details of a short sale and was able to present a realistic offer to the lender (with back-up offers)! She was able to provide the best possible scenario, given my circumstances. Thank you, thank you, thank you, Laurette for how professionally and confidentially you handled this transaction. I am so relieved and the new owners are so happy with their find.” Anita

If you or someone you know is having trouble making your mortgage payment, there are options available to avoid foreclosure. Davidson Realty Read more

Comments currently closed.

Sherry’s Five Real Estate Facts For June 2009

August 17, 2009

 | 
Posted by in Northeast Florida Market Trends

Each month the Northeast Florida Association of Realtors releases market statistics. I have pulled five of the most interesting facts from the month of June for you. To sum up the market, sales are better, closings are harder and prices are down.

1.  Pending sales increased 42.4% in June, 2009 over June, 2008.

We have seen a huge increase in home buyer activity in St. Augustine, FL. For several months, buyers were looking at homes but not making offers. At Davidson Realty we are seeing many more contracts written.

2.  Closings decreased 3.3% for the same period.

The buyers are getting homes under contract; however, the closings are taking much longer. It is taking longer for lenders to approve the buyer’s loan. There are more obstacles to closing a transaction, including new regulations that do not allow lenders to speak directly with appraisers. There are also many short sales where the homeowner owes more to the lender Read more

Comments currently closed.

Davidson Realty