Jacksonville Beach Market Data 2/08

By
Real Estate Agent with Berkshire Hathaway Home Services Florida Network Realty BK 3030920

Here are the numbers of active property listings, those under contract, and sold properties for Single Family Homes in Jacksonville Beach, FL for the month of February 2008:

  • Active              300 active listings for Single Family Homes (no condos)
  • Pending                6 pending  (there is a contract and inspections/financing have been done)
  • Sold                 4 sold (prices ranged from $221,000 to $700,000)
  • New Listings        52

This month it appears Jacksonville Beach is taking a step backwards: our active listings have increased 4% from January 2008, our pending listings have decreased 25%, our sold listings have decreased 55%, and our new listings have decreased 16%.  WHEW - that was a lot to type!

I have been hearing positive news from Realtors, and other associated industries I talk to on a daily basis, including mortgage lenders, home inspectors and insurance people, so these decreases are surprising to me.

One factor  influencing us at this time is the tightening of the mortgage markets, and the disappearance of 100% financing.  Many buyers may not have the 20% down payment lenders would like to see, and when you are talking about a $350,000 purchase, that 20% is $70,000,  which is a big number. Also, many lenders I talk to know will only lend to 95% of appraised value - something else to take into account.

Here are the February 2007 numbers for comparison:

  • Active             285 active listings for Single Family Homes (no condos included)
  • Pending               11 pending  (there is a contract and inspections/financing have been done)
  • Sold                 7 sold (prices ranged from $231,000 to $500,000)
  • New Listings        62

It's a great time to buy, particularly if you have a good credit history and some money to bring to the table - depending on your income and credit, you may not need 20% down.  Talk to your lender to see what options are available to you.

If you are selling, now more than ever, it's imperative to make the best possible impression from the first day.  Look at your home with a critical eye, or, you have difficulty doing that, have your Realtor  or a stager look at it and help you determine how to improve.  It's not impossible to sell right now, you just need every possible advantage!

Make It A Great 2008!

Posted by

Carol Zingone is a full service Broker Associate proudly affiliated with Berkshire Hathaway HomeServices Florida Network Realty in Atlantic Beach, FL.  I help buyers and sellers locally, regionally, and internationally.  With hundreds of happy buyers and sellers over the course of my career, I'm thrilled to help first time buyers, military buyers, seniors, investors, 1031 exchange properties, short sales and REO's.  I have spent hours honing my expertise, including the designations of: Graduate Realtor Institute (GRI), Loss Mitigation Certification (LMC) , Short Sales, Foreclosures, REO's, (SFR), and Senior Real Estate Specialist (SRES).  I pride myself on providing excellent expertise to all buyers and sellers. Search the MLS via www.carolzingone.com  for Jacksonville and area listings!

 

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Rainmaker
488,848
Christine Bohn
RE/MAX Professionals - Gainesville, FL
Realtor, Gainesville FL
Carol - I think the ice is cracking.... I haven't looked at our stats yet but the phone calls and buyers getting serious makes me feel like Spring will bring better business. 
Mar 02, 2008 07:26 PM #1
Rainmaker
1,069,665
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services
Carol -- I am cautiously optimistic. We are really seeing things start to come to life in So. New Hampshire.  We will see how things develop in the next few weeks.
Mar 10, 2008 10:55 PM #2
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Rainmaker
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Carol Zingone

Global Realtor Based in Jax Beach, FL
Questions About FL, Beaches Homes? Ask Me!
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