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Jacksonville Florida Real Estate: Market Report January 2012

03-13-12
Pam Graham- Jacksonville Florida Real Estate
Pam Graham- Jacksonville Florida Real Estate: Real Estate Agent in Jacksonville, FL
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  • Office: (904) 269-0524
  • Mobile: (904) 910-3516

Jacksonville Florida Market Report

Single Family homes (attached & detached)

January 2012

JSO at Gator Bowl in Jacksonville Fl

January 2012 January 2011

Active Listings: 4,691 Active Listings: 6,517

Sold: 606 Sold: 500

Months Inventory: 7.74 Months Inventory: 13.45

Average Price: 389,472 Average Price: 542,105

I was showing a house the other day and it was bought in April of 2011 for 198k and is now on the market, under contract, with a list price of 214k. Until it's sold, we won't know the exact amount it was sold for, but let's just assume it's at 214k. This home is NOT a short sale or distressed, because the owners paid cash. (Of course we don't know what is going on in their life to sell it so quick) Just think, in our current market, they will end up making 16k. We haven't seen that happen as often in the past 4 or 5 years. Not only did our inventory decrease by a little more than 1800 homes, but we also see that there were 106 more homes sold in January 2012 vs January 2011! Based on inventory levels, we are still in a buyers market, but we are slowly creeping into a stable market.

January 2012

Jacksonville Florida Real Estate: Market Report January 2012

And now for a Blast in the Past…………..

January 2011

Jacksonville Florida Real Estate: Market Report January 2011

Active Listings– The amount of active listings in the month reported

Sold– The amount of sold listings that closed in the reported month.

Months Inventory– How many months it would take to sell the current inventory based on the sold amount.

Avg Sale Price– Average sale price of the sold houses in the reported month.

SP/OLP Ratio– Sales price to Original List Price, this is the percentage showing the difference of what the house was originally listed for and what it sold for.

Days on the Market– The length of time it took the house to get under contract from list date.

Sold REO– How many homes sold that were foreclosures (REO=Real Estate Owned).

Sold Short Sales– How many homes sold, that were short sales


Want to know what these numbers mean to you when selling your Jacksonville Florida Home? Call me at 904-910-3516 and find out!

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Jackie Leavenworth Time Management Seminar

03-11-12
Frank & Sharon Alters, CDPE-Short Sales Jacksonville-Orange Park-Fleming Island
Frank & Sharon Alters, CDPE-Short Sales Jacksonville-Orange Park-Fleming Island: Real Estate Agent in Fleming Island, FL
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  • Office: (904) 673-2308
  • Mobile: (904) 673-2308
  • Secondary: (904) 673-2307

Jackie Leavenworth Time Management Seminar

Join us Monday, March 12 for Jackie Leavenworth's Seminar on Time Management, sponsored by the ERN agents of Coldwell Banker Vanguard.

"Are You A Rocking Horse or A Race Horse?"



WHEN: Monday, March 12, 2012
9:00 AM - 12:00 PM

WHERE: Ramada Inn Mandarin
San Jose Blvd at I-295
Jacksonville FL

COST: $29 Coldwell Banker Vanguard Agents
$59 Everyone else

SPONSORS: ERN Agents of Coldwell Banker Vanguard

Jackie Leavenworth is one of the most dynamic agent instructors we have ever met. Her classes not only entertain, but leave a lasting impression. Do you have any issues with time management? Get tips from the best of the best and don't miss this fantastic opportunity to up your game for 2012!

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North Florida Land Trust, Jacksonville, FL

03-08-12
Carol Zingone, Beaches Expert, Northeast FL
Carol Zingone, Beaches Expert, Northeast FL : Real Estate Agent in Jacksonville Beach, FL
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  • Office: (904) 241-2417
  • Mobile: (904) 993-9048

We have a weekly Realtor meeting at the Beaches here in Jacksonville, FL. Since we meet weekly, it's a tight knit group, which makes it a lot of fun.

Our speaker today represented the North Florida Land Trust, which protects and preserves land in seven counties throughout Northeast Florida.

I've been kayaking with this same speaker, and we went early April last year, when the birds were just getting active in the marsh. We saw so many birds, and such a variety, it really reminded me how important it is to conserve some green space for all to enjoy.

If you have a preservation-minded individual, who would like to preserve family land or consider a conservation easement, please contact Bonnie Barnes at the NFLT.

North Florida Land Trust

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First Coast Fishing, Jacksonville, FL

03-02-12
Carol Zingone, Beaches Expert, Northeast FL
Carol Zingone, Beaches Expert, Northeast FL : Real Estate Agent in Jacksonville Beach, FL
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  • Office: (904) 241-2417
  • Mobile: (904) 993-9048

I, myself, am not an avid angler (say that ten times fast!), but I know more than a few in the area. For some it's recreational and relaxing, and for some, it's that plus the bonus of fresh fish to enjoy.

One of the guys I see at the gym every morning gave me some more background on the trials of being a local angler; it seems recent changes to local fishing areas, limiting access, as well as limited catches by species have made the pleasure part of the fishing premise much more difficult to attain.

One of the reasons people like to move to our area is the vast waterway system, including oceans, lakes, and rivers, and limiting access does not seem to make much sense.

The full Florida Times Union article is here, along with estimated economic impact of the fishing industry.

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Mortgage Forgiveness Debt Relief Act of 2007 Expiring, what does this mean to sellers selling their Jacksonville Home As A Short Sale?

02-29-12
Pam Graham- Jacksonville Florida Real Estate
Pam Graham- Jacksonville Florida Real Estate: Real Estate Agent in Jacksonville, FL
  • view my blog
  • Office: (904) 269-0524
  • Mobile: (904) 910-3516

Mortgage Forgiveness Debt Relief Act of 2007 is set to expire.

What does this mean to sellers selling their Jacksonville Home as a Short Sale?

If you're not familiar with the Mortgage Forgiveness Debt Relief Act of 2007, this went into effect December 2007. Before this came about, if you were to sell your house short, the balanced that your lien holder did not collect was considered income, and would be taxable. You would receive a 1099 in January or February after the home had closed. But the Mortgage Forgiveness Debt Relief Act allows you to exclude certain canceled debt on your principal residence from income. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief. There are some conditions, so make sure you either talk to your CPA or visit the Mortgage Forgiveness Debt Relief Act of 2007 page. This relief act is set to expire December 2012.

Currently President Obama proposes extending tax waiver on mortgage debt forgiveness in his budget proposal of 2013. So, will this be extended? I hope so, but there are some opposition in Congress, who may put up a fight.

What does this mean to the sellers needing to short sale their Jacksonville Florida Home?

First, you need to weigh out your options. Have you tried a loan modification, can you catch up your payments if you're behind, is bankruptcy an option? If you feel that a short sale would help your situation, then you need to speak to a real estate agent, who has experience in listing and selling short sales, to see if a short sale is the way for you to go.

I hate saying, don't wait, because this may not be extended, cos really, it makes me feel like a high pressured sales person, and I'm not, but you know as well as I do, that our government will wait til the last minute to make these decisions, and if it turns out that the extension does not happen, you will be looking at a higher tax bill when you do short sale. Also, short sales take time, so you need to give yourself some cushion.

If you're look for an agent in Jacksonville or surrounding areas, who does short sales, I'm one, who is not afraid to get to work to get your home sold. I can't promise a stress free ride, and maybe after we speak, you find that doing a short sale may not be in your best interest. It will be your decision and if selling is what you decide, I will work on getting your short sale closed as if it were my own.

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