First Time Home Buyers can still qualify for down payment assistance in Jacksonville, FL:H2H
- Headstart to home ownership up to $12500.00FL Bond
- up to $7500FHLB
- Federal Home Loan Bank (out of Atlanta) - up to $7500
With the right certified loan officer, these programs can be combined. Contact me for recommendations.Buyers market or Seller's market
It depends on who you ask. When a seller has multiple offers
to choose from, that is an indication of
a seller's market, in my opinion. It is also an indication of the prime condition of the home or a below market price. Most of the offers I have submitted over the last three years have been in a multiple offer situation. In my case, it is because I research the market for the buyer's I am working with to find the best buys for that specific purchaser. Beauty is in the eye of the beholder, so what is a best buy for one purchaser is not necessarily the best buy for a different buyer. Appraisals
are another indicator of the market. Last year I received my first appraisal that was for less than what I had sold the property for. I have been in business since 1984, so it was a shock, because I research the market (before I write a contract) to determine what other homes have sold for in the last 6 months before writing an offer for the buyer.
In 2012, I had one listing appraise for $5000 more than the buyer's offer (which was already $4000 more than the list price) and another listing appraised for $10000 more than the list price. Inventory
is also an indicator to determine if it is a buyer's or seller's market. In a normal market, there will be enough homes to fill the buyer's needs for 5-6 months at the current assorption rate. In the past few years we have had 12-18 months worth of inventory on the market. This is a buyer's market indicator. However, now we have about 6-8 months of inventory, which is an indicator that it is turning into a seller's market. When demand is high and supply is low - seller's market. When demand is low and supply is high - buyer's market.
The point is, time is running out to purchase homes at below market value. Appraisals are coming in higher, which means listing prices will begin to increase. This is a great time for seller's to put their homes on the market, while inventory is low. However, this is still a great time for buyer's to purchase because interest rates are around 3.75%, down payment assistance is available, and seller owned homes are more likely to be in lender-approveable condition.
If you would like additional information on whether this is the time for you to sell or buy, please contact me at firstname.lastname@example.org
for an appointment to discuss your specific situation. Don't procrastinate and let your window of opportunity pass you by!
Home values are stabilizing in the Jacksonville, FL market and down payment assistance programs have limited funds (first come, first served).
Brenda Gravitt CRS, GRI
Coral Shores Realtybkgravitt@gmail.com