Real Estate in Northeast Florida and Around the World

The market data for Northeast Florida foreclosures and short sales - also called "distressed properties", for the month of October was recently released by the Northeast Florida Association of Realtors.  Overall, sales for Lender-mediated sales increased 80.1%  when compared to closed sales of lender-mediated transactions of October 2008.  Wow.  As much as we realize that many of these homes had previous occupants with less than fortunate circumstances, it is good for the overall health of the real estate market and local economy that these homes have new owners.  Many of these homes were purchased by first-time home buyers, who are infusing our local economy with their newly received $8,000 tax credit.  From buying lawn mowers, curtains, paint, appliances, etc., to purchasing holiday decorations, the cash registers are ringing at our local retailers.  And, they will begin to care for these homes, improving the overall look and value of the neighborhoods in which they are located.

What is also interesting to see is where the concentration of inventory homes are for sale, which will require Lender mediation to seal the deal.  Some neighborhoods boast less than 5% of the homes are in distress, while other neighborhoods have greater than 50% of their inventory listed as distressed sales.

If you are interested in seeing specific information regarding distressed properties and the impact on the neighborhood in which you live, or may be interested in living, please visit the "Market Data" page of my website, located on the side toolbar.

Whatever neighborhood in Northeast Florida you are interested in, I work there - so keep an eye out and give me a wave when you see me.  See ya around the neighborhood!