Davidson Realty, Inc.

Jacksonville Real Estate Trends for February Show a Normalizing Market

March 20, 2014

 | 
Posted by in News, Northeast Florida Market Trends

“Do not let what you cannot do interfere with what you can do.” – John Wooden

I thought this quote was appropriate when I read RealtyTrac’s report that Florida is still the number 1 state in the nation in foreclosure activity even though initial filings dropped 24% in February from the previous year. The judicial foreclosure process drags on for 1,095 days on average. Only Arkansas and Hawaii have longer time frames. Jacksonville ranked number 3 in highest foreclosure rates in the nation.

I cannot do anything about the foreclosure process, but I can take advantage of all the buyers looking in our area because of the schools, the improvement in jobs and the brutal winter that most of the country has experienced. Read more

Comments currently closed.

North Florida Real Estate Trends for January 2012

February 27, 2012

 | 
Posted by in Northeast Florida Market Trends

“If it is important to you, you will find a way. If not, you’ll find an excuse.” Unknown

This quote really hit home for me, I hope you enjoy.

The Northeast Florida Association of Realtors market stats for January revealed some interesting information. First I noticed the large drop in closings from 1,432 closings in December, 2011 to only 977 closings in January 2012. I looked back and found similar trends every January. Next I compared January 2012 to January 2011 and saw a 6% decline in closings. I looked a little closer to discover that in January 2011 there were 612 lender-mediated closings and this year there were only 488 for a 20% decline. The traditional closings increased by almost 14% from 430 in January 2011 to 489 in January 2012. So overall closings are down but non distressed closings (traditional) are up.

It has been reported that the banks are going to increase foreclosing properties. How they market these foreclosures and whether this impacts short sale negotiations may be a major factor in 2012. We have seen the banks get much tougher lately with negotiations on short sales. Read more

Comments currently closed.

Davidson Realty