Jacksonville Real Estate Market

Jacksonville, Florida



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The Worst City In The Housing Market !

Posted on | September 26, 2011 | No Comments

You know, sometimes it is difficult to report the latest news. The report was recently released from Clear Capital, a provider of real estate asset valuation information, that Jacksonville, Florida . . . my current Home Town and real estate investment business center, is the lowest performing major housing market ! Yep, it beat out Detroit which had held the undesirable honor for the past seven months as being the worst.

Personally, I can add that housing sales have been mediocre at best over the Summer but I have seen a spike in new home construction. According to this just release report from Clear Capital, home prices, in general, have fallen 2.7% in -Jacksonville while home prices in Detroit fell a modest 1.1% and home prices nationally rose 4% ! To help clarify these statistics I will add that Clear Capital uses rolling quarter intervals and compares the most recent four months of pricing information to the previous three months.

“Although the summer gains appear to signal strong growth in home prices, it’s important to keep in mind that these gains are off of the record lows of winter,” said Alex Villacorta, director of research and analytics at Clear Capital, in the release. “With summer coming to a close and the price gains clearly starting to level off, the market is at a critical juncture as to whether it can avoid another significant downturn into the slower buying seasons of fall and winter.”

Now this may seem to be “bad news” but, I, as an active real estate investor, HAVE to find the “good” in this report. As far as I can read this report, it is GREAT news. Perhaps over the next few weeks I will be able to pick up some extremely low priced single family homes to add to my inventory and even to flip. As you may know, I am directly involved with a “residential redevelopment” firm here in Florida called Totally Rehabbed Homes which sells wholesale and renovated homes. Also, on the other end of the real estate business line, I rent homes through White Collar Rentals.

So bottom line . . . . . sometimes being awarded the “Worst National City In The Housing Market” is a good thing.

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