Foreclosures Sold, Beaches Neighborhoods, Jacksonville, FL 2010 YTD

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

Everyone is fascinated by foreclosures, and how much they can "save" or make by purchasing one. As Realtors know, not every foreclosure represents the same type of deal, depending on the work they need, and the community they are located in. 

I just ran a quick search, and came up with 63 total foreclosures sold this year in Atlantic, Neptune and Jacksonville Beach, FL.

The lowest price one sold for $25,000 and was fire damaged, requiring repairs, but close to the Mayport Naval base. There were quite a few of these, which are townhomes, that sold for less than $50K.

The highest price property was an oceanfront home, with 3000 square feet, built in 1923, that sold for $1,335,000. It needed absolutely no work at all.

The oceanfront home is a terrific deal, the fire damaged townhome is less than a terrific deal, but it all depends on what the buyer is looking for.

If you are in the market for a foreclosure, it helps to have cash financing, have the ability to honestly assess what kind of work the property needs, and what your abilities are to do the work yourself, or have a contractor visit the property with your to get a realistic idea of what it will cost for you to do necessary repairs. 

Utilities will need to be turned on (buyer expense) and the property may have to be de-winterized in order to do inspections. You need to be working with a Realtor who has successfully handled foreclosure properties previously who knows how to navigate these waters, as foreclosures are different than standard resales. 

Posted by

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!

 

Comments (2)

Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good report. Looks like a good time to search for a home in your area. Enjoy the holiday season.

 Blooming for you!

Dec 02, 2010 12:07 AM
Brin Realty Associates Team At Bean Group
Bean Group | Brin Realty Associates - Amherst, NH
Amherst NH homes and Southern NH real estate

Hi Carol, That is a lot of opportunity and many choices for buyers...they should take advantage of these interest rates and many great prices on these properties...good luck!

Dec 02, 2010 12:15 AM