real estate: 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)

real estate: Federal Government Admits “Anti Flipping” Regulation Hurts the Housing Market - 01/03/12 09:09 AM
On 1 January 2012 the federal government extended a waiver of the “Anti Flipping Regulation” which prohibits FHA insured mortgages for a single family property if the contract of sale is executed within 90 days of the acquisition of the property by the seller.  The extension will be in effect until 31 Dec 2012. This regulation was originally implemented in an effort to protect homebuyers from investors reselling properties with an “artificially” inflated value.  The regulation had the effect of increasing carrying costs to the investor which of course would eventually be passed on to the buyer which further contributed to the … (0 comments)

real estate: Lending Industry To Probe Deeper Into Your Finances - 10/19/11 08:34 AM
The FICO (Fair Isaac Corp) score.   That all important number lenders use to assess a borrower’s creditworthiness may soon involve information other than your credit history when calculating your credit score.  Lenders, in an attempt to develop a more “well rounded” picture of a person’s finances, now want to include payday loans, evictions, child support payments, utility and even cell phone payments to the information considered when determining whether or not to loan you money.   Whether you pay off a payday loan on time is not the issue.  The belief is that if you use a payday loan service you represent … (0 comments)

real estate: 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)

real estate: 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)

real estate: 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)

real estate: 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)

real estate: 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)

real estate: 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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