Real Estate Trends

The National Association of Realtors says sales are off a few percentage points nationally. Here in Jacksonville, FL, however, it seems our sales are off about 30% (according to the Florida Association of Realtors).

The interesting thing about our sales in Florida is that FAR says that although sales are down, prices are still increasing! How is that? I know in Jacksonville, prices are being reduced from one end of the giant metropolis to the other. Prices at the beach are falling. Many are taking their properties off the marketing and trying to rent. Many more are selling "by owner" in order to maintain their imagined profit margin by eliminating real estate agent costs.

The market needs this "reorganization' in order to shake out the speculators. It was the speculation, however, that created the buying frenzy that kept the prices going up.

If you need a good negotiator, good investment property locator, excellent relocation advisor, call me.

Richard Newquist
904-422-5091
newquist@LiveAtTheBeach.net
http://www.LiveAtTheBeach.net