When is the best time to buy in the South Duval area, East of the St. John's River, Jacksonville, FL?

Asked by Lawrence Pelton, 20164-5532 Mon Jul 16, 2007

We are looking at the Beaches, and, just west of the Beaches from Atlantic Boulevard down South to Ponte Vedra.

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Mike, Both Buyer And Seller, Gate Parkway
Mon Jul 16, 2007
BEST ANSWER
Right now is the best time to buy! The market is flooded with good buys...especially of you're interested in buying a 3/2 condo "Gate Parkway" area. Contact me...
0 votes
David In Jax, Home Buyer, Jacksonville, FL
Wed Jul 18, 2007
There is no way a person can accurately pick the top or bottom of the real estate market. But, ALL economic indicators are showing that NE Florida home prices will continue to trend down over the next few years. The RE inventory is at an all time high for this area and the numbers are still climbing (according to the MLS), population growth in the Jacksonville area has stalled over the last six months (according to UF), and sales numbers are falling (according to FAR). With all this in mind, the real question is not when is a good time to buy but at what price should you start negotiations. Many people are desperate to sell, so much so that the median sales price is about 30% less than the median listing prices (according to FAR, not including reductions). So, throw out a good offer. Pre-bubble price offers are being accepted. If the buyer doesn’t want to take your offer, move on. There are so many homes to choose from and so few buyers you can buy a home completely on your terms at pre-bubble prices. See what happens when you throw out a 50% less than asking offer. From my experience, the seller’s agent will listen. If not, go next door and make an offer. Or across the street, or right down the street, etc…
2 votes
Mike Linkena…, Agent, Jacksonville, FL
Tue Dec 16, 2008
No need for a long drawn out answer,

NOW is the time to buy!

Rates near all time lows and banks accepting dirt cheap offers on properties, makes it a snap to own for less than rent in most cases! Being that its the winter off season, it is especially a good time if you are looking for a great deal.

This is a small window of opportunity

Mike Linkenauger
First Coast Realty Associates
(904)635-8822 http://www.firstcoastre.com
mlinkenauger@yahoo.com
0 votes
David Anders…, Agent, Ponte Vedra Beach, FL
Fri Dec 5, 2008
I understand your question... but it is impossible to answer. It is like predicting when will it snow here again. No one has the corner on knowing the future.

But just look at the trends and that will help guide you and then look at what you save or lose if you wait.

The trends all say that it is a soft market and will remain that way for some time. So if you buy now or wait until Spring... it won't make a big difference.

What you save or what you lose depends on your motif for buying. If getting tax breaks... then you better get on the stick NOW. If saving another $10,000 then why wait. We can bargain that much easily right now.

Many sellers do not want to move during the holidays. So some argue that trying to buy now is not a good idea. The seller's are less inclines to sell.

My advice... decide you want to buy... then hire a good agent to help you find the right home. then bargain the heck out of it. You will get a great home at a great price without worrying about timing the market right.

Hope this helps.

Best,

David Anderson, Real Estate Advisor
904-803-4545
0 votes
Linda J Sears, , Lady Lake, FL
Tue Jul 17, 2007
Hello Lawrence,

This is the BEST time to buy anywhere in Florida. We are just coming back from a major price correction and the buys are here to be taken advantage of now. Inventory is high and prices have dropped with low interest rate. You will not find a time like this to buy in Florida again. It will not last long either. The northeast is selling again as well as the midwest. These are the 2 major areas where the buyers come from for us. The number of houses in MLS that are being pended with an accepted offer are starting to rise which means that when the inventory starts to drop the prices will start going back up again.

You are looking at some beautiful areas. Best of luck to you!

Linda J Sears
0 votes
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