Jacksonville Real Estate Market

Jacksonville, Florida

Falling Home Prices Hit Big Banks, Fannie, Freddie

Keeping your fingers crossed for the housing market is just the tip of the iceberg. Prices have now fallen, on the S&P/Case Shiller Index, more than they did during the Great Depression.

If Mortgage Rates Keep Falling, Why Are Home Sales So Bad?

As mortgage rates continue to fall, so too are home sales. That wouldn’t make sense in a normal housing market, but these are very unique times.

Foreclosure Sales Centered in Few States, So Why Should We Care?

Earlier this week, when we got the report of a bump up in sales of newly constructed homes, I cautioned that the home builders are still facing huge competition from distressed properties. Today we have some new numbers showing just how big and how wid…

Home Builders Still in the Woods

The best number out of today’s report on sales of newly built homes is not the 7.3 percent bump up in signed contracts, it’s the drop in inventories to a 6.5 month supply.

Foreclosure ‘Rocket Docket’ Done

Too many foreclosures and too little time. That was the impetus behind the so-called “rocket docket” in Florida, where judges could blow through a thousand cases a day. And they had to, given a backlog of close to 40,000 foreclosures. It was an experim…

Who Will Buy the Foreclosures?

Not to sound like a broken record, but only when we work through the vast inventory and shadow inventory of foreclosed properties, can home prices bottom and housing overall recovery. Obviously certain states/markets are more burdened by the distress t…

Credit Rules the Housing Market

Existing home sales were basically flat in April, down close to one percent month to month and down nearly 13 percent year over year, but you have to remember last year we were heavily under the influence of the home buyer tax credit. Now we are heavil…

No Housing Recovery Without Private Label Mortgage Investors

Despite the lowest interest rate on the 30 year fixed in six months, mortgage applications to purchase a new home fell last week, over 3 percent. In fact, purchase application volume has been falling, on average, for the past four weeks, which is parti…

Can Lack of Inventory Save Housing?

The current supply of homes on the market is the best indicator of the future health of the housing market. Let me say that again: Inventories matter.

The Debt Crisis and Mortgage Rates

If you’re not talking about the head of the IMF today, then the only thing left really is the debt ceiling, which we officially reached today. While estimates are that it will take until August for the US to actually default on its debt obligations, th…

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This web site is dedicated to providing valuable information related to the Jacksonville, Florida real estate market and the real esate industry as it impacts the buying, selling, and renting of homes and condos.

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