Foreclosed Homes On Florida's First Coast, Jacksonville Area, FL

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

I honestly don't particularly care for the negative tone of this headline (tell me if you agree or disagree), there is some helpful information in this article.

For example, there are phone numbers here to report overgrown, trashy yards as well as phone numbers for boarded up and/or structural problems with properties, which can help homeowners report these issues to the proper people.

The graph at the top shows how many properties are in foreclosure and how many are bank owned on a county-by-county basis.....and could be a bit misleading, as it does not put those stats in context.  The source of the statistics is listed as RealtyTrac, not our local association.  I have first hand seen the mis-statement of homes in foreclosure with RealtyTrac's stats. 

These stats, from what I recall (and I have not been active with RealtyTrac for a few years) include all Lis Pendens (first official document recorded pertaining to foreclosure) which includes: association placed LP's, 2nd mortgage LP's.  These can be, in many cases, easily made up as they are much smaller figures than the primary mortgage, so it is my belief this figures can be inflated.

I wonder why the local reporter of the local newspaper chose to go with RealtyTrac's numbers vs. the local organization?

 

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!

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate General Information
Location:
Florida Duval County Jacksonville
Groups:
All Things Florida
Prudential Network
ForeclosureFocusUSA - An Unvarnished Truth
Florida Real Estate Market Reports
Local Expert
Tags:
foreclosures
nassau
putnam
baker
st johns
clay
jacksonville fl
duval
trashy yards

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
260,898
Connie Goodrich
Keller Williams Realty - McKinney, TX
CRS ABR (McKinney Realtor)Texas

The problem with some reporting entities, when they draw the stats sometimes they fail to quantify what has been excluded.  We have a real estate journalist for the Dallas Morning News that publishes stats and has headlines like - property value up 5%.  Well, he failed to mention that a couple of million dollar home sales took place and skewed the stats.  You are right, doesn't tell the full story.

Jan 17, 2012 11:53 PM #1
Rainmaker
1,296,141
Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Carol,

I agree it is negative; that also when you try to find a majority of the properties they are not there.

As with all aspects of media negativity sells.

Have a gr8t day,

Ray

Jan 17, 2012 11:54 PM #2
Rainmaker
791,065
Carol Zingone
Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL
Global Realtor in Jax Beach, FL - ABR, CRS, CIPS

Connie: I guess the journalists are trying to find the hot headlines? I worked for years in advertising before moving into Real Estate, and purchased media time (yes, I bought time and space!), and there is always a way to skew stats to your favor.....one of the things I would love to see is a relationship with the local Realtor association to at least provide some balance/input to the article.

Ray:  That is something that is so frustrating! Many consumers read this, and think "I can buy a fabulous house in a wonderful community for 50 cents on the dollar". Can you do that? Yes. Can you do that where you want on the house you want? Not necessarily. It's misleading.

Jan 18, 2012 12:08 AM #3
Rainmaker
3,102,269
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

New reporters won't get much recognition if they report good news but bad news get headlines.  You know how much good news is not being reported so the bad news can capture the headlines

Jan 18, 2012 10:15 PM #4
Rainmaker
3,327,825
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Would be great to report the GOOD News....many journalists are under what we all hope is the mistaken impression that it would not be read...and as to source....often while local sources are more accurate...you are never a hero in your own hometown.

Jan 19, 2012 12:23 AM #5
Rainmaker
710,716
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA

Carol

Sad but it's true in many cities. What others have done is form some kind of neighborhood watch to try to maintain vacant properties so that they don't affect the rest of them. Also, some cities impose a fine on properties that are vacant and stay vacant for a number of months. If the cities strictly enforce this, then the banks are hard-pressed to maintain the properties they foreclose on, or make arrangements with their selected listing agents to make the arrangements.

Jan 19, 2012 04:53 AM #6
Rainmaker
5,680,489
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Many news organizations use figures that frequently do not project an accurate picture of local markets.  Most of us would not rely on figures from RealtyTrac.

Jan 23, 2012 12:26 AM #7
Rainmaker
1,106,826
Al Raymondi
Ocean View Realty Group in Ormond By The Sea Florida - Ormond Beach, FL
Ormond By The Sea Florida - Home and Condo Sales

Trying to get local figures and assimilate them into the press release from RealtyTrac would be a burden for the reporter Carol, just publishing is much easier.

Jan 24, 2012 01:31 AM #8
Ambassador
1,471,300
Toni Weidman
Sailwinds Realty - Trinity, FL
20+ Years Selling Homes in New Port Richey, FL

I wonder why too. But since most of the newspaper reports are usually inaccurate--I'm not surprised.

Jan 26, 2012 04:49 AM #9
Rainmaker
4,432,589
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Real Estate is local. Buyers and sellers should talk to a good agent who know the market.

Feb 02, 2012 12:28 AM #10
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
791,065

Carol Zingone

Global Realtor in Jax Beach, FL - ABR, CRS, CIPS
Questions About FL, Beaches Homes? Ask Me!
*
*
*
*
Spam prevention