jacksonville: Jacksonville Florida makes the American Improving Markets Index (IMI) list! - 01/10/12 09:18 AM
 
More good news! Three Florida cities (including Jacksonville) made in onto the American Improving Markets Index (IMI). The index measures three sets of independent monthly data to get a mark on the top improving Metropolitan Statistical Areas. The three indicators that are analyzed are employment growth from the Bureau of Labor Statistics, house price appreciation from Freddie Mac, and single-family housing permit growth from the U.S. Census Bureau. If not for overly restrictive lending policies and the inventory of distressed properties conditions would most likely have improved even more.  As market conditions improve so will home prices. I'll say it … (0 comments)

jacksonville: Christmas in Jacksonville - 12/17/11 06:28 AM
 
Once again Jacksonville has shown that the Christmas spirit is alive and well.  Every year on Black Friday the Jacksonville Landing puts on a great Tree Lighting event that includes live performances by local artists and a fantastic fireworks display. 

 
A beautifully lighted fountain across the river in Friendship Park also contributes to the spirit of the season with Christmas songs playing over speakers for all to enjoy.
 
While there may not be snow on the ground it still looks a lot like Christmas in Jacksonville.         
 
Merry Christmas!
(0 comments)

jacksonville: Housing Affordability In Jacksonville Near Record High - 08/25/11 09:10 AM
According to National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI),  housing affordability is near it’s highest level in 20 years.  This is great news for people in the market for their first home or someone looking to own a vacation home or investment property. 
The Housing Affordability Index has a value of 100 when the median-income family has sufficient income to purchase a median-priced existing home.  A higher index number indicates that more households can afford to purchase a home.  The HAI is calculated using the following formula:
HAI = ( Median Family Income / Qualifying Income ) … (2 comments)

jacksonville: Housing Affordability In Jacksonville Near Record High - 08/22/11 04:14 PM
According to National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI),  housing affordability is near it’s highest level in 20 years.  This is great news for people in the market for their first home or someone looking to own a vacation home or investment property. 
The Housing Affordability Index has a value of 100 when the median-income family has sufficient income to purchase a median-priced existing home.  A higher index number indicates that more households can afford to purchase a home.  The HAI is calculated using the following formula:
HAI = ( Median Family Income / Qualifying Income ) … (0 comments)

jacksonville: Jacksonville Real Estate Market Showing Signs Of Recovery - 08/22/11 12:13 PM
With all the negative publicity that’s been heaped upon the Real Estate Market locally and nationally I am happy to report that there are signs of improvement.   Home prices, just like any other product or commodity, are impacted by supply and demand.   When supply is low and demand is high home prices will increase as they did between 2002 to 2006.  Conversely when supply is high and demand is low prices fall as they did from 2006 to present.  In July of 2007 Jacksonville had nearly 13 months of inventory available for sale.  This year the available inventory in July was … (13 comments)

jacksonville: Still Time For Military Home Buyers To Receive The $8,000 Tax Credit - 02/05/11 07:05 AM
Great news for the troops!  Military first time home buyers can still receive the $8,000 first time buyer credit if they get a home under contract by 30 April 2011 and close by 30 June 2011.  To be eligible the service member must have been on extended overseas duty for at least 90 days at any time between Jan. 1, 2009, and April 30, 2010.
 Military service members are also exempt from the tax credit recapture rules if they are reassigned outside the area where the home is located.  Typically, homes that are sold within three years of purchase are subject … (4 comments)

jacksonville: Jacksonville Florida More Affordable to Buy Than Rent - 02/03/11 11:51 AM
 
                    VS         
 Which Costs More?
Jacksonville has been identified as one of the many cities around the country where it has become more affordable to buy a home than to rent one.  This may be attributed to the increased demand for rental homes created by would be buyers who are renting while waiting for home prices to bottom out.  Smart real estate investors are buying up distressed properties, making the necessary improvements and making the homes available to rent to meet the increased demand. 
As with any product or service the increased demand for rentals is driving … (0 comments)

jacksonville: HOPE for Homeowners or just postponing the inevitable? - 01/27/09 08:36 AM
 
Passage of the Housing and Economic Recovery Act of 2008 (HERA) H.R. 3221 may offer some hope for homeowners facing situations that may lead to foreclosure.  Since the vast number of foreclosures is having a negative effect on home values preventing even more homes from going into foreclosure may help to stabilize prices and restore confidence among potential homebuyers.  At least this is the intent.  To see the effect of foreclosure sales on the Jacksonville home values check out my "Jacksonville Florida Real Estate Market Trends" page.
 One component of H.R. 3221 designed to reduce the number of foreclosures is … (0 comments)

jacksonville: Foreclosures VS Home Values - 01/26/09 10:42 AM
What’s it going to take to stabilize home values?  Here's my take on the situation. The Jacksonville real estate market continues to favor buyers with over 16 months of residential real estate currently for sale. Property values in Jacksonville and the immediate area have adjusted downward in response to a decrease in demand and a surge in short sale and foreclosure inventory. For example, there are currently 12,852 single family homes for sale in Jacksonville. 28% of those are listed with a title status of “pre-foreclosure” or “foreclosure”. In the last 30 days 757 single family homes were sold with 42% … (2 comments)

jacksonville: What happened to the Jacksonville Real Estate Maket? - 09/11/08 09:50 AM

So what's causing the drop in home prices in Jacksonville?  That's an easy one.  With over 16 months of inventory as of August 2008 there are still too many homes on the market.  As with anything else it is an issue of supply vs demand.  An increase in supply drives prices down while and increase in demand drives prices up.  Simple economics.
 So what caused the increase in supply?  This may be up for debate but here's my take on it.  Adjustable rate subprime mortgages.  During the boom years practically anyone could get a mortgage.  If the borrower did not … (0 comments)

jacksonville: Jacksonville Real Estate Market Showing Signs Of Improvement! - 05/06/08 10:01 AM
I'm sure most of us are sick of hearing the drum beat of gloom and doom coming from the mainstream media and are anxious to point to some good news for a change.  Well I am happy to report that, at least in Jacksonville, FL, the real estate market is showing signs of improvement.  The graph below from the North East Florida MLS shows that the inventory of available homes has declined for three consecutive months with just over 16 months of inventory as of 31 March 2008.  Although 16 months of inventory still represents a strong buyers market if this trend … (4 comments)

 
Lucien Vaillancourt, Jacksonville Florida Real Estate (Native Sun Realty, Inc.)

Lucien Vaillancourt

Jacksonville Florida Real Estate

Jacksonville, FL

More about me…

Native Sun Realty, Inc.

Address: 9951 Atlantic Blvd, Suite 106, Jacksonville, FL, 32225

Office: (904) 994-0493

Mobile: (904) 994-0493

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