Jacksonville is looked at as one of the hottest real estate markets in the country right now, winning the title of the foreclosure capital of the entire United States. But what does this mean for the average Jacksonville resident who is hoping to get into the housing market? It is actually great news! Foreclosures are an absolute wonderful way for first time home buyers to enter the housing market, and it means that you can get a fantastic property sale in Jacksonville for a low-price—something you can’t get in too many cities around the country.
Jacksonville has seen a boost in home sales over the last couple of years, and housing prices are steadily increasing as a result. However, in Jacksonville, it isn’t the investment property owner who is scooping up all of the properties, though they are also out and about looking for their next best location for rental property management. The reason the housing market is doing so great in Jacksonville is the surplus of first time home buyers and agricultural property buyers who are jumping fearlessly into the housing market.
This is great for Jacksonville as a city, as first time home buyers fit a demographic that is great for a city that is hoping to experience urban revival and growth. First time home buyers are typically young professionals who are looking for their first true “home.” This means they are looking for a place to settle down and create roots, and encouraging these young professionals to create those roots in Jacksonville is good business for the First Coast.
If you are a first time home buyer and are thinking about getting into the housing market, make sure to contact us today.