Buying a Home
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BUYING REAL ESTATE IN TODAY'S MARKET
Whether you're looking for a home to buy in San Marco, Avondale, Riverside, or Jacksonville's Beaches, a condo on the southside, or anywhere else in the city, the time could be perfect for you right now!
The market is moving! Years after the market slowed and crashed, things are changing. We're almost back to a Seller's market in many neighborhood. We're seeing multiple offers, and it's harder to get a steal. It’s been a tough past few years, and the real estate industry is ready for a change.
Rates are still hovering close to 3.5% for conventional mortgages, and lenders such as REGIONS, Synovus, Everbank, and Merrill Lynch are offering great deals for qualified buyers. New home buyers have done very well over the past 6 months with cut-rate builder sales. With new incentives, the move-up market is reemerging as well. Sales of upper-end properties are moving, and properties are seeing great buyer traffic.
While the market is great, it’s still confusing for buyers. The choices are tight, and successful negotiating tactics are tricky. We have homes selling quickly, and most sellers are not desperate. If an offer is too low, they're just waiting for the next one, and many prices have now been reduced to quite reasonable levels. It’s important to understand the true values of property in each neighborhood, and compare that to the asking price. Some areas offer wonderful deals for anyone looking now. The Beach and Downtown offer several unbelievable waterfront condos, and affluent communities now have many homes at 75% of their 2006 prices.