For several years, house flipping was a huge trend in the housing market. As part of the house flipping practice, investors would purchase foreclosures and then fix them up so they could re-enter the market as a higher priced property sale. When the housing market took a hit, so did the house flipping practice. Some investors stayed in business by purchasing Jacksonville foreclosures and opening them up for rental property management, but others abandoned the practice altogether.
Category Archives: Traditions Property Blog
A number of surveys and economic trends coming out lately indicate that the economy and the housing market are on a positive swing. This is especially true here in Jacksonville, where the city ranks within the top 100 improving markets in the entire United States. The downtown core of Jacksonville is also experiencing urban revival and homes throughout the First Coast are spending less time on the market before finding a buyer.
Congratulations! You just bought your first home. You sifted through all of the property sales in Jacksonville, explored different foreclosures in Florida and decided against pursuing another year of rental property management. You officially own your own home—now what?
When it comes to making the decision to enter a lease with rental property management in Jacksonville versus researching property sales or Florida foreclosures in the area, it pays to take a step back and look at the economic benefit of each over time.
To everyone who is looking at Jacksonville property sales and Florida foreclosures in the First Coast area, congratulations! Jacksonville has experienced a boost in property sales as of late, and it is thanks to the growing interest in property management and value by local residents like you.
Florida foreclosures are a great way to purchase a home on a dime. As foreclosures in Jacksonville–as well as around the rest of the nation–have steadily remained popular over the past several years, more people have looked to property sales in Jacksonville as a mode of investment. Property sales are a great way to invest money, especially if you are willing to purchase a home that could stand for a substantial amount of home improvements. That is why it comes as no surprise that “renovation mortgages” are becoming more and more popular—especially here in Florida.
It is a matter of basic economic principals—supply and demand. Since 2008 and the onslaught of economic hardship in the United States, more people have turned to renting their homes as property ownership became less of a possibility for many people. The rise in Florida foreclosures contributed to this, as families, students and young professionals all sought temporary housing and support from rental property management.
Whether you are looking at Florida foreclosures, other classes of property sales in Jacksonville or even rental properties, management of your energy costs is the same for just about everyone—and it can be expensive. The amount of money that Americans put into their energy budgets has grown steadily over the past decade. For those who make less than $50,000 annually, energy costs now make up over 15 percent of their annual budget. This means that for a lot of the population, a large chunk of their income is being used on basic expenses like lighting, air conditioning and water that could instead be being used for things like property investments in Jacksonville foreclosures.
When you make the decision to purchase a home in Jacksonville, whether it is through a short sale, foreclosure or a traditional property sale, just about everyone starts with the same step: researching the mortgage.
We can talk about Florida foreclosures, rental opportunities and property sales in Jacksonville all day long. We can discuss the latest trends in real estate, what economic signs indicate in regards to buying and selling a home and other tips you need to know when you set out to purchase a house. All of this information is pertinent and serves its place in the conversation around finding a home. What these types of tips can’t tell you is what type of community your future home is in, and when it comes to finding a new home, finding an area that you will enjoy living in is just as important as the walls that will form your house.
September may prove to be a pivotal moment in aiding the recovery of the U.S. economy and, in turn, the housing industry. Earlier this month, the Federal Reserve announced it…
No-one ever said buying a house is easy—and if they did, they were probably overlooking something. There is a reason so many people turn to professionals for support when buying and selling their homes. In Jacksonville, foreclosures and property sales take a lot of time, paper work and frustration. Even the rental process is stressful, making rental property management in Jacksonville a necessity for tenants and landlords alike.
Well, maybe thriving is an overstatement—but it is a fact that more and more renters are flocking to Downtown Jacksonville. Rental property management in Jacksonville’s downtown area has always taken a backseat to the more suburban communities on Jacksonville’s Southside or near the beaches. But that is all starting to change. For an area that is low on rental opportunities and high on vacant buildings, the urban core of Jacksonville is seeing a great deal of traffic by young professionals who are hoping to rent homes closer to where they hope to also find work.
When we talk about the state of the real estate market, a lot of people think immediately of single family homes and property sales in Jacksonville. However, the construction of multifamily homes and the need for property management in Jacksonville are also signifiers of improved health in the real estate market.
Here today, gone tomorrow. That is a property sales theme that home owners in Jacksonville crave. Unfortunately, over the past several years the amount of time homes have stayed on the market for extended periods of time. When the housing market was at its prime in 2004 and 2005, the average house sold in only four weeks. This was a great incentive for those who wanted to sell their homes, and for those looking to buy it was crucial to act on a property quickly, as it might be gone the next day.
If you are like most people, then setting out to find a new home isn’t something you do every day. For those who purchase investment properties, searching through Florida foreclosure lists or viewing potential property sales in Jacksonville might be commonplace, but for those looking for a new home, experiences between buying your first house and looking for a second home could be years apart.
The past several years have been difficult for property sales in Jacksonville, as well as throughout much of the rest of Florida. Foreclosures and short sales have become prominent, while those attempting to sell their homes for market value have struggled to do so, sometimes spending months or longer on the market.
Whether you are currently approaching the end of a lease, are looking to venture off on your own for the first time or find yourself moving locations as a result of a job change, the debate between renting and buying is an intense one.
As of September, a new Housing Price Index will be introduced in Florida statewide. This means more ability to track changes in Florida foreclosures and property sales prices throughout the state, including here in Jacksonville.
Property owners across Florida are finally starting to breathe easier as the housing market is keeping to a positive track in the sunshine state. Median home prices, pending property sales and closed sales all increased in the month of July, while the number of homes and condominiums on the market in July dropped.
As the generation of baby boomers continues to age, more and more talk has been allocated to the discussion of the housing market and property sales for the 55 and up crowd. Are boomers going to stay put or are more retiring Americans going to continue selling their houses and move towards sunnier shores. Florida foreclosures have been a point of interest for many adults who choose to move to Jacksonville and other areas of the state as they retire, but there is still a large market of new construction homes for adults 55 and up.
It’s impossible to predict the future, so when it comes to predicting and anticipating shifts in the housing market it is all experts can do to look to the past and consider if what happened once might happen again. While the housing bubble of the 1980s was only moderate in comparison to the bubble of the 2000s, it is possible to look at that situation and gleam a few pointers as to what might be the best course of action for potential buyers now.
There is a lot of talk about the benefits of owning a home. Owning your own home provides investment opportunities, opens the door to additional tax deductions, gives the owner more borrowing power and offers an increased sense of stability that often benefits the entire family. However, purchasing a home isn’t right for everyone. Whether you aren’t willing to commit to a location, are hoping to grow more in your career before you buy or aren’t willing to take on the responsibility of owning a home for whatever reason, renting is a viable option that comes with a slew of benefits of its own.
The results are in, and it turns out that a lot of people are drastically unsatisfied with their real estate experiences across the nation. This month J.D Power and Associates released its fifth annual seller and homebuyer satisfaction survey. J.D Power and Associates conduct this study every year as a way to gage the opinions and confidence of both buyers and sellers.
The number of foreclosures in South Florida is on the decline, but the Jacksonville area remains one of the highest areas for foreclosure in the United States. This news comes with mixed emotions for a lot of people. Last month the rate of foreclosures in South Florida dropped 15 percent, which might make a lot of otherwise skeptic potential buyers become a bit more willing to make an investment in purchasing a home. However, a high foreclosure rate opens the door for big investment opportunities for others, and in Jacksonville foreclosures are at one of the highest rates in the nation.
It is August, and that means time for back to school throughout all of Florida. Foreclosures, rental agreements and property sales in Jacksonville are stressful enough, but now you are faced with figuring out bus schedules, school lunches and getting to know your children’s teachers all over again. For some of us this time of year is a welcome relief from the long unstructured days of summer vacation, but for others back to school is filled with stressors around every corner and we don’t know which way to turn.
It is August and football season is officially back in action—well almost. With the first pre-season game now behind us a lot of Jacksonville residents were given a firsthand reminder of the ghastly traffic situation that Sunday’s bring during the fall. As you’re driving across town for your rental property management or to file papers on more Florida foreclosures the football traffic can be maddening, especially if you are driving from the Jacksonville beaches to downtown, San Marco or the Riverside and Avondale area.
Those of us in the business were scared to admit it even to ourselves but Florida’s real estate market shows signs of life. Not just a faint pulse but real…
Many holiday plans changed this week as we experienced 2012 first tropical storm-early. Although it never gained hurricane status, it did make one wonder if this season would be a…
As a Realtor, I am amazed at how quickly the market can change. Spring 2012 has brought back the days of multiple offers leading to Realtors calling for the “highest…
Buyers making low-ball offers to Jacksonville real estate sellers are beginning to see that these tactics are no longer effective. In recent years, homes on the market exceeded the number…
As someone that grew up in the neighborhood, the expansion planned for Kickbacks is much anticipated. The plan has gone from adding a couple of seats and a much needed expansion…
At last, good news about the countries economy. Applications for unemployment are at a four-year low leading to strong numbers from the housing industry. At the close of 2011, Florida’s existing home…
The outlook for Jacksonville real estate in the coming year is hopeful, according to past and current home sales numbers. Florida housing data shows an upswing in home and condo…
Prediction- prices of existing homes in Metro Orlando would fall 19 percent during 2011 – the biggest drop in the country. Prediction-the median home price would be $110,500 by…
With property values as low as they are, many prospective Jacksonville real estate buyers are seeking investment properties to lease for profit. But leasing a home can be an overwhelming…
Today’s shaky real estate market begs the question, “Should I rent a property or is now the time to buy?” The answer varies for the circumstance. If you are transferring…