Inside Look At Jacksonville, FL's Real Estate Auctions

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

If you are like anyone today, you believe there are fabulous deals in real estate, and all you have to do is FIND them.

Yes, Virginia, there are deals in real estate, especially if you have cash, and a terrific credit score.

Let's look at the online auction in Jacksonville, since so many buyers believe auctions are where the REAL deals are.

For the date of 6/9/09, there were a total of 40 auctions schedule on the online auction site:

www.duval.realforeclose.com.

Of these, 21 were canceled PRIOR to the auction, either by court order, the attorney, or the plaintiff.  So, over 50% of the available auction properties were canceled. That's a fairly high percentage, and as you can imagine, if you had your eyes on one particular home that was canceled, you'd be frustrated.

When will that home be re-scheduled for auction, you ask? Good question - the plaintiff (owner) can petition the court for cancellations and continue to postpone the sale; not forever, but I have heard of some cases that have languished on for a very long time.

Many times, however, if there are bidders interested in a property for a "steal", it's good to keep in mind the bank has bidders themselves, to protect their interests.  They may have lent $1,500,000 on the house, and they will not sell it for $500,000 - without at least trying to do so themselves. So remember, you are bidding against the bank.

If you are interested in purchasing a foreclosure, investment property, or first home, please contact me to help you navigate the process. I will help you find the homes that fit your needs, budget and financing.

 Carol Zingone is a Broker Associate with living and working in Jacksonville Beach, FL with Prudential Network Realty.  She helps buyers and sellers throughout the Beaches, Intracoastal West and Greater Jacksonville, FL areas. She can be reached at 904/993-9048 or via email at carolzingone@clearwire.net

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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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Carol Zingone

Global Realtor in Jax Beach, FL - ABR, CRS, CIPS
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