When Jacksonville Real Estate supply exceeds demand, buyers have the upper hand-and that’s where we are now! The current supply of homes for sale now stands at 12.5 months, meaning that at today’s pace of home sales, it would take twelve and a half months for the existing inventory to sell. For you as buyer, this means lots of choices, lots of negotiating power, and that smart sellers are fiercely competing for your business, both in terms of the price and the condition of their homes. Visit my site for a FREE LIST of Foreclosed or Short Sale Properties.
For more reasons why now is prime time to buy a home in Jacksonville, contact me and I’ll send you a free ebook.
Do you know people whose wealth is in the home they live in? What would their lives look like today if they had rented all those years? http://ow.ly/4ZlJa
While the final quarter of 2009’s financial meltdown led to a sense that financing had dried up, mortgage funds are now available. “If you have a job and can afford the payment, chances are you’ll qualify for a mortgage,” says David Reed, author and mortgage banker. For more reasons why now is prime time to buy a home, contact me and I’ll send you a free ebook.
The recent downturn in the housing market resulted in a drop in rental rates, but rents are back on the rise while the cost of home ownership has dropped. As average apartment rental rates have slightly decreased, the decline has been moderate in comparison to home values, which have declined nationwide by 30 to 40 percent since the peak of the housing boom. For more reasons why now is prime time to buy a home, contact me and I’ll send you a free eBook.
Did you know that the monthly cost of owning your own home will be equal to or less than the cost of renting an apartment or home?
Think of it this way; If you rent a home, it is typically owned by someone that has a mortgage on that home. That person is in the business of making money. Essentially, you are paying at least the cost of his mortgage or more. You will never see that money again!
But if you purchase a home, you will have your own mortgage to pay. The difference is that if you decide to sell your home for what is owed or more, then you would have lived in your home for FREE throughout the duration of your stay. If you decide not to sell your home, then you will have entered the ranks of the investment property owners and will continue to make money off of your investment.
Many Americans are content to rent after witnessing the crumbling housing market in recent years. But with rent on the rise and home prices continuing to fall, a reversal is in sight.
Some real estate professionals anticipate home prices to fall further, with some economists expecting a 15% to 30% drop this year. This might be bad news for household finances and current homeowners fearing that their most prized asset stands to lose more in value. On the flip side, this makes homes more affordable and might finally spur more home sales, especially at a time when the rate of home construction has been the lowest since before the Second World War.
- No matter what happens with home values, you will not gain equity
- Limited or no ability to personalize
- No tax advantages to renting. Landlord gets all the applicable tax breaks
- You are paying your Landlords mortgage
- More fixed Costs for term of lease
- When lease is up, you can just move
- Less work in maintaining for apartment or condo living
- Small amount of Upfront case
Jacksonville Home Ownership opportunities are better than an ever! A recent Fannie Mae study reveals that the majority of Americans still aspire to own a home – and for good reason. Owning a home is critical to financial stability and wealth building. A home serves as a forced savings account and provides a solid asset, as well as a place to live. Despite the recent market upheaval, the vast majority of Americans still consider home ownership to be important to the economy and preferable to renting. Since the end of World War II, promoting home ownership has been high on the list of the federal government’s priorities, and will continue to be so. For more reasons why now is prime time to buy Jacksonville homes, contact me and I’ll send you a free ebook.
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In case, you haven’t “gotten” it, I am pro-home ownership. I even changed my profession because of this passion. I spent many grueling years as a mortgage broker and loved every minute of it. My husband and I purchased our first home at a young age because we were tired of asking permission to paint, get things fixed, and having to move. Yes folks, we even had to move once because the homeowner didn’t pay the mortgage on the house we were renting. I just didn’t like having all aspects of my home in “someone elses” hands. So, have you been kicking around the idea of whether you should rent or buy your next home? Well, here are my thoughts below. Check into your personal situation and see what makes sense for you. If not right now, form a plan of where you need to be to make home ownership possible.
1) The bottom of the market doesn’t come around very often so home prices will rebound and begin increasing.
2) Mortgage rates are low. Freddie Mac showed rates on 30-year fixed-rate mortgages averaging 4.87 percent with an average 0.7 point this week, up slightly from 4.86 percent last week but down from 5.21 percent a year ago. The 30-year fixed-rate mortgage hit an all-time low in Freddie Mac records dating to 1971 of 4.17 percent during the week ending Nov. 11.
3) Mortgage Interest is tax deductible.
4) You can make the property “your own”.
5) Your home is not in the hands of a landlord that could evict you.
A great resource is on the link below: They have some really cool tools to help you in your quest, i.e. Rent vs. Buying comparison chart, Rent vs. Buying calculator, and an affordability calcuator.
ORLANDO, Fla. – Feb. 23, 2011 – Florida’s existing home and existing condo sales rose in January, according to the latest housing data released by Florida Realtors®. Existing home sales increased 14 percent last month with a total of 12,151 homes sold statewide compared to 10,702 homes sold in January 2010, according to Florida Realtors. January’s statewide sales of existing condos rose 36 percent compared to the previous year’s sales figure.
Seventeen of Florida’s metropolitan statistical areas (MSAs) reported increased existing home sales in January; 16 MSAs had higher condo sales.
“Now is a great time for anyone thinking of buying a home in Florida to make that decision,” said 2011 Florida Realtors® President Patricia Fitzgerald, manager/broker-associate with Illustrated Properties in Hobe Sound and Mariner Sands Country Club in Stuart. “Mortgage rates are historically low, although they are beginning to tick up slightly as the economy shows signs of strengthening. Conditions remain very favorable for buyers, with a range of housing inventory and attractive prices.
- Entrepreneur magazine, No. 1 ranked real estate franchise on the 31st Annual Franchise 500 list
- J.D. Power and Associates, highest in overall satisfaction ratings from home buyers among the largest full-service real estate firms for the third year in a row
- Inman News, Co-Founder and Chairman of the Board Gary Keller named one of the 100 Most Influential Leaders in Real Estate
- Training Magazine, highest ranking real estate franchise on the annual Training Top 125, #47 Overall