jcs2000

Advice from a doc who relocated to Florida for a job at Mayo, rent.
I also found the market unstable and this has worked out well, especially as some of homes I was thinking about buying a year ago are still on the market and have price reductions up to 200K!
Go to: http://www.nefmls.net/cgi-bin/index.cgi
Click search for properties. Then you can drill down by area and filter rentals that are available. - Tue Jun 3 2008, 04:10

Buyers believe that if they do not work with a realtor they can get a better price and using the MLS themselves they can more effectively search and screen properties.

The realty is that it is difficult to get a better price without using an agent because the standard listing agents have a 6% commission built-in. As a buyer, you can write an offer that rebates 3% back to you if you do not use an agent. Or more practically, as a buyer you use a realtor that will upfront agree to rebate a portion of their commission to you (ziprealty realty 20%, others up to 80%) in advance.

I am seriously thinking about getting a realtor license myself after reading the requirements. This is not like getting a college degree. In fact in FL all you need is:
a) a high school degree
b) a set of classes--can be completed online. total time investment 63 hrs ($245.00)
c) pass a state exam ($35.00) then pay $145.00 to get a license

This exam isn't rocket science; a sample question with a common sense answer:
A person want to act as his own general contractor to build a home
would consult which document to determine the amount of
insulation required by law?
A. zoning ordinance
B. home warranty
C. plans & specs
D. building code

So it takes around $500.00 and a bit of self study!!! In fact, if you are a lawyer, you don't even need to take the class. You can just sit for the test. There are even Cliff Notes to help you pass the test. It actually is a fantastic investment, even if you just buy once depending on home price. If you purchase a $1M home, for $500.00, you get $29,500 back. - Sat Apr 12 2008, 00:39

I think you will want San Marco area for sure. It is to far from my place of work to be practical for me, but if I could choose any area that would be it. It is no LA but is about as progressive as JAX gets. - Thu Apr 10 2008, 11:43

You must lower the price, if you wish to sell. It really is a simple as that. Loans are much harder to obtain with larger down payments required. This means that the effective buying power is reduced and psychologically any buyer now is very sensitive to the idea of overpaying. Appraisals are interesting but they do not actually represent the price that the property can sell for given today's market. The market, not appraisals, set the price. Comps must be very recent (30-90 days) to be valid and if you are relying on older bubble data prices, you likely have overpriced the property. That being said < less than 30 days on the market is not very long but the net trend for home prices is decline not increases. - Thu Apr 10 2008, 11:39

This is a difficult situation. If however, your take home pay is less than your monthly mortgage payment, you really cannot afford the property. It sounds like you may have had an option 2 year ARM or something similar and are now facing a high reset payment. The market is weak and after paying a 6% commission for realtor services, you will need to bring $$ to the table to sell which you likely do not have. Therefore, you either a) foreclose or b) attempt to have the bank modify the terms of your loan. Start with (b) and if the bank says you must miss a payment then do so. The realty is that you cannot really afford the property and there is little point in burning through whatever savings you have to keep your head above water. Don't feel like your situation is unique--it is the same circumstances for millions of home owners across the country currently. - Thu Apr 10 2008, 11:30