real estate market: Great news for homebuyers! Monthly payments at lowest in the past year
- 01/29/24 07:26 AM
Guess what, savvy homebuyers? It's raining good news in the world of real estate! Picture this: your monthly mortgage payments just hit the snooze button and decided to take a little nap. According to the friendly folks at Redfin (you know, the real estate wizards), the median U.S. mortgage payment danced down to a cheerful $2,361 during the four weeks ending Dec. 31. That's a whopping $372 less than the all-time high in October – a 14% drop! Can you say cha-ching?
Now, buckle up, because the party doesn't stop there. As the payment numbers do the limbo, buyer interest is throwing … (1 comments)
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real estate market: Home Prices Are Dropping in Jacksonville Florida
- 08/22/23 10:19 AM
Home prices in Jacksonville Florida have finally dropped. Everyone who has been waiting on this moment before buying a home can now go out and look for homes for sale. Yes. You heard it right. The median price of a single family home dropped in July a whopping 1.2% to $330,000. In June the median price was $334,000.
See all Homes For Sale In JacksonvilleHowever, at the same time prices went down, mortgage interest rates increased to just over 7% and hit a 20 year high. So, if you waited... buying a house at $330,000 now will cost you much more than … (3 comments)
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real estate market: Should you wait for home prices to drop before buying a home?
- 04/19/23 01:44 PM
Home prices have been a major concern for many potential homebuyers. After peaking last June, prices have come down a bit, but you may have heard something in the news or on social media about a price crash on the horizon. As a result, you may be holding off on buying a home until prices drop significantly. But that’s not the best strategy.
According to a recent survey from Zonda, 53% of millennials are still renting right now because they’re waiting for home prices to come down. However, the most recent data shows that home prices appear to have bottomed out and … (8 comments)
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real estate market: Jacksonville Florida Housing Market Update
- 01/19/23 09:57 AM
Hey guys… real quick Jacksonville housing market update for you… lets jump right into it
Days on Market steadily climbing month after month and up 2.5% over November at 41 days.
Median Sales price is $318,000 dropped 2.2% compared to November but it increased by 1% compared to December the year before
823 closed sales in Jacksonville and that is up nearly 15% compared to November which is a good thing. However, that number is down way down compared to Dec a year ago
11.8% of the homes sold in December 2023 sold over asking price.
We saw 1112 new listings hit the market in December… … (1 comments)
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real estate market: Jacksonville housing market snapshot
- 12/29/22 01:46 PM
The Jacksonville housing market like many across the country is going through a shift.
If you are wondering what’s happening with the Jacksonville housing market here’s a quick snapshot. Interest rates dropped for the 6th consecutive week making the average for a 30 year fixed rate mortgage 6.27%
The median home price fell to $317,990 dropping slightly from 325,000 in Nov
we have a whopping 3089 listings currently on the market and 75 new listings that came on the market in the past 5 days
The average days on market increased to 62 …up from 40 Days in November…as to be expected during the holidays
Currently … (3 comments)
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real estate market: Jacksonville Housing Market Update
- 12/21/22 10:26 AM
The Jacksonville Housing Market is still very active but it has certainly seen some changes compared to the last couple of years. Here are some stats for November 2022
Days on Market 40. Up almost 20 % compared to Oct however, it’s up nearly 108% compared to November last year
Median Sales price 325000 dropped 2% compared to oct but it’s up almost 5% compared to Nov last year
Closed sales 685
Closed over list price 13.1% which is down 12% from Oct
New listings 1321 down 22% from oct
List price received 96.7 % down less than 1/2% from Oct
Mike & Cindy Jones, Realtors
904 874-0422
MikeAndCindyJones.com
Berkshire Hathaway … (2 comments)
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real estate market: Buying a home vs renting. What's the difference?
- 10/14/22 05:54 AM
Buying vs renting
Are you trying to decide if it makes more sense to rent or buy a home today? If so, here’s what you need to know. Renting and owning are fundamentally different in so many ways. And owning a home has the power to change your life. Take a look at this. The net worth of a homeowner is significantly greater than a renter. On average, a homeowner’s net worth is about three-hundred-thousand dollars. On the other hand, a renter’s net worth is about eight thousand dollars. Let that sink in for a moment. That means a homeowner’s net worth … (2 comments)
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real estate market: Mortgage Rates Today. Where are They Headed?
- 09/16/22 06:22 AM
Mortgage Rate Predictions
As inflation rose this year, interest rates climbed significantly too. According to the latest data from NAR, today, the typical monthly mortgage payment is now almost seven hundred dollars higher than it was a year ago. If that’s making you press pause on your home search, I get it. But here’s the thing. Experts project mortgage rates should start to stabilize, not continue their steep climb. This chart shows the latest mortgage rate projections from several industry experts. On average, they’re forecasting rates will remain fairly steady over the next four quarters, hovering in the low-five percent range. The … (2 comments)
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real estate market: House prices - Is the real estate market crashing?
- 09/02/22 11:15 AM
Are you worried home prices are gonna fall? While I know many of us remember what happened to home values in 2008, this isn’t the same situation. But don’t just take my word for it. Here’s what the experts have to say. This graph shows the latest home price forecasts from seven industry leaders. If we average all of them together, experts say nationwide we’ll see roughly ten percent appreciation this year. While that isn’t the fifteen percent increase the market saw in twenty-twenty-one, it’s certainly not a decline. And what I hope stands out is that none of them are … (2 comments)
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real estate market: Housing Market - Changes Mean Good News For Home Buyers
- 07/18/22 05:49 AM
The housing market is changing. Looks like good news for home buyers
One thing’s for sure,
if you’ve been trying to buy a home over the past two years,
you’ve probably faced your fair share of challenges.
Two big ones stand out to me. The limited number of homes for sale,
and the intensity of bidding wars. But, here’s the good news.
Things are starting to shift.
Take a look at this. This graph shows housing inventory is increasing.And that means you have more options for your home search.That's because more homeowners are listing their houses for sale right now, and rising mortgage rates are moderating the market. … (9 comments)
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real estate market: Is the real estate market crashing?
- 07/01/22 08:08 AM
Is the real estate market crashing
Wanna know if we’re in a housing market correction right now? The answer is no.
And I can tell you why.
Take a look at this. While the market is undergoing a shift,
it certainly is not going through a correction.
That’s because there’s a significant difference
between a correction and what we’re seeing today.
Forbes defines a correction as a decline of ten to twenty percent Publish in the value of a market index or the price of an asset. But home prices aren’t falling, they're just beginning to rise at a slower pace. Experts are still projecting over eight percent … (6 comments)
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real estate market: Don't let inflation stop you from buying a house
- 06/29/22 10:06 AM
I know I’m not telling you anything you don’t already know but Inflation has hit a forty-year high.
Would you like to know WHY RISING INFLATION SHOULDN’T STOP YOU FROM BUYING A HOME THIS YEAR
If you're thinking about buying a home,
All the news about high prices and inflation may make you wonder if you should wait. Here's what you need to remember.
In times like these, you wanna be invested in an asset that outperforms inflation. That’s where homeownership comes in.
This graph shows the average inflation by decade compared to home price growth going all the way back to the seventies. The … (6 comments)
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real estate market: Will home prices drop in 2022
- 06/22/22 11:07 AM
Are you Thinking of pressing pause on your home buying plans in hopes that you’ll get a better deal if you hold off for a bit?
Experts are actually saying prices will continue rising, meaning it will cost more if you wait.
Here’s a look at where home prices are projected to head.
What you’re looking at here are the latest home price forecasts from seven industry leaders.
Each bar shows how much these experts project home values will appreciate this year. When we look at them all together, the dotted line shows the average rate of appreciation is about eight-point-nine percent. The big takeaway … (2 comments)
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real estate market: Is it a bad time to buy a home
- 05/18/22 11:37 AM
Buying a home. Is now a bad time?
Why It's (Almost) Never A Bad Time to Buy a Home
If you've put your home buying plans on hold because of rising rates and prices, you may want to think again. It could still be a very good time for you to buy and Here's why:
Today's inflation may be creating a better outlook for buyers, as it tends to reduce competition for homes. And the equity earned by homeownership has always been a good "hedge" against inflation.
You may be happier buying now. Homeownership offers a sense of belonging and security that everyone in your family will appreciate. You'll also avoid future rent rises while reaping attractive tax benefits (your … (2 comments)
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real estate market: Are home prices dropping
- 05/11/22 08:34 AM
Are price drops coming to the real estate market? Hang on. There might be great news on the horizon for home buyers for the first time in a long time.
Now, across the country mortgage people, mortgage companies are laying off mortgage lenders left and right because demand has slowed down, probably because interest rates have doubled, more than doubled, since December. We're also seeing across the country a decrease in showing activity, which is a sure sign that things are changing.
What I want to talk about, though, is right here in Northeast Florida, the area where I work, Jacksonville and all … (2 comments)
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real estate market: Jacksonville Fl Real Estate Market Update
- 04/27/22 06:11 AM
The Jacksonville real estate market is on fire. This you probably know already. Well… maybe you don’t know unless you are in or have been in the real estate market to buy or sell recently. In any case you probably aren’t aware that Jacksonville is in the top 10 hottest housing markets in the US right now. The second hottest as a matter of fact just behind Tampa.
Here are the market stats for Jacksonville through February.
The median sales price hit $310,000 which is a 24.7% increase from a year ago.
Buyers and their real estate agents are struggling with record low inventory … (1 comments)
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real estate market: Will the housing market crash in 2022
- 04/27/22 06:08 AM
Many people are wondering if there is a housing market crash looming. The housing market has been red hot for the past few years but maybe showing some signs of cooling. Mortgage interest rates have nearly doubled since December pricing many home buyers out of the market. Continued increases in mortgage rates are expected and should slow down the record high demand over the next few months.
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Mike & Cindy Jones, Jacksonville Real Estate Agents, Berkshire Hathaway HomeServices Florida Network Realty
3627 … (2 comments)
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real estate market: Should I buy a house in 2021 or keep renting
- 08/18/21 08:38 AM
If you're thinking it's better to rent than buy a house in 2021 becuase home prices are up... consider this... rents are up as well. In Jacksonville Florida rents are up 13% over last year.
Mike & Cindy Jones, Jacksonville Real Estate Agents
Berkshire Hathaway HomeServices Florida Network Realty
904 874-0422
… (0 comments)
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real estate market: How's the real estate market in Jacksonville Florida?
- 05/26/20 10:23 AM
Right now the real estate market in Jacksonville Florida is favoring sellers. Interest rates are crazy low and home inventory levels have shrunk mainly die to the Covid 19 crisis. However, buyers are out in full force looking for homes to purchase. In many cases sellers are seeing multiple offers and going under contract in days. The Covid crisis made some home sellers remove their homes from the market and delayed others from listing. The fact is, in Northeast Florida housing inventory is at a low of 3.5 months. 6 months of inventory is considered a balanced market. We know the … (1 comments)
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real estate market: Should I Sell My House During the Covid 19 Pandemic
- 04/08/20 04:11 PM
Mike and CIndy Jones Jacksonville Real Estate Agents Berkshire Hathaway HomeServices Florida Network Realty 3627 St Johns Ave Jacksonville Fl 32205
904 874-0422
… (2 comments)
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Guess what, savvy homebuyers? It's raining good news in the world of real estate! Picture this: your monthly mortgage payments just hit the snooze button and decided to take a little nap. According to the friendly folks at Redfin (you know, the real estate wizards), the median U.S. mortgage payment danced down to a cheerful $2,361 during the four weeks ending Dec. 31. That's a whopping $372 less than the all-time high in October – a 14% drop! Can you say cha-ching?
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