Ponte Vedra Beach Florida Real Estate News & Listings Presented By RE/MAX Unlimited

BOA Update to Short Sale Backup Contract Submission

Tue, 10 Jan 2012 03:00:00 GMT

Bank of America just sent out an e-mail today to their short sale real estate agents. It shortens the period of time you have to get a new contract in to Band of America if your first contract falls out.

Text of e-mail I received copied and pasted....

8-Day Window to Submit Backup Offer

Based on agent feedback and to reduce overall cycle times, we are making a change to the short sale process. If it becomes necessary to submit a backup offer during a short sale, you now have a reduced window for making the submission. Instead of 14 days, backup offers must now be submitted within eight calendar days after the initial offer becomes invalid.

When a backup offer becomes necessary:

Contact your short sale specialist immediately.
Let the specialist know if you have a backup offer to submit.

Within eight calendar days, resubmit the listing data, submit the short sale offer, and upload the offer documents and supporting documents. Any backup offer will require analysis and investor approval, regardless how similar it may be to the previous offer.

If no backup offer is available:

The short sale will be closed in Equator by your short sale specialist.
You should return to marketing the property.
You may initiate a new short sale in Equator when you receive a new offer on the property.

2011 Ponte Vedra Beach Real Estate Market Foreclosure and Short Sale Update

Mon, 09 Jan 2012 03:00:00 GMT

Ponte Vedra Beach has a real estate market that is much healthier than the rest of the Jacksonville Metro area. As I was reviewing 2011 Ponte Vedra home sales I found that the percentage of homes that were short sales or foreclosures in this area is roughly half of the number of short sales and foreclosures in the Jacksonville real estate market overall.

In 2011 Ponte Vedra Beach (32082 zip code) had 439 home sales. Only 23% were distressed property sales. While that sounds high by itself it is considerably better than Jacksonville real estate's 47% of sales. For 2011 the Jacksonville FL real estate market (including Ponte Vedra) had 12,649 sales with 5,934 of the sales being either short sales or foreclosures.

1107 1st South ST A, JACKSONVILLE BEACH 32250

Sat, 31 Dec 2011 20:36:04 GMT

2BR/2BA just steps to the ocean. Gated entrance with two car assigned covered parking. Updated kitchen with tiled floors and back-splash. Wood floors in main living areas. Enjoy the ocean breeze from your private balcony. Walk to South Beach shops and restaurants.

How Jacksonville Real Estate Often Seems Like it is Priced By a Mad Scientist

Fri, 23 Dec 2011 03:00:00 GMT

The Jacksonville real estate market is a very interesting thing.

Sometimes an experience is so completely "out there" that I feel obligated to share my experience. This week we had a buyer ready to put in an offer on a home in a St Johns County neighborhood. The home is absolutely gorgeous. wood floors, beautiful colors, a kitchen begging for the next Paula Deen...it is a fabulous home. The price seemed pretty reasonable.

As we always do, we ran comps for the buyers when they were trying to decide what to offer.

The home is priced in the mid-$200s. There are three others priced in the $300s. All roughly the same size. Seemingly a great deal.

Ooops! There are only three comps for the past year. All roughly the same size. They sold for only $185k, $189k and $200k.

Because there are three comps in the same neighborhood, and they are all within the year...we don't know how an appraiser could possibly appraise the home for the seller's asking price. And we KNOW an appraiser couldn't even begin to justify the sales price for the other three homes that are priced in the $300s.

Where are these asking prices coming from? Do they really believe they can get those prices for those homes considering the recent comps?

My guess is that they are trying to avoid a short sale situation. Buyers are not (or at least SHOULD NOT) going to overpay for a home just because the seller does not want to go short. This is an impossible situation. A cash buyer could overpay like this, but WHY would they?

Price your home correctly or don't even try to sell it in this current Jacksonville real estate market.

Myth: You Can't Comp Regular Resales with Jacksonville Short Sales and Jacksonville Foreclosures

Mon, 12 Dec 2011 03:00:00 GMT

Are Jacksonville short sales and Jacksonville foreclosures comparable to straight Jacksonville FL resales?

Yes.

Say that again?

Yes.

As we are in the fifth year of the real estate market downturn I would have assumed that this would be common knowledge. Working in Jacksonville short sales and Jacksonville foreclosures like we do, our team is always surprised with this myth is resurrected.

It usually happens something like this...

"Your listing on 123 Short Sale Lane is only worth 300,000 because regular resales have been going for $350,000 and this is a short sale..."

or like this...

"Of the 10 homes that closed in the last 3 months in Ponte Vedra community A--the smallest had 3500 square feet -- I have emailed you the the MLS listings for those solds-- only one of them was a short sale. "

Please take note. It doesn't matter if you are bidding on a foreclosure or short sale...you can not discount the price solely for that fact...then use that as an excuse for a low offer. Jacksonville home values incorporate all types of sales (assuming they are arms-length transactions).

Fair market value is what matters! The bank will order an analysis of fair market value, whether that be a BPO or an appraisal. When an appraisal is done, they are not going to discount for the fact that a home is a Jacksonville foreclosure or short sale. They are going to compare apples to apples...

5003 Nathan Hale RD, JACKSONVILLE 32221

Wed, 09 Nov 2011 20:36:17 GMT

Great short sale investment opportunity! No HOA. Nice, wooded lot! Possible opportunity for pre-closing occupancy while you wait on the short sale approval for qualified buyers.

101 PURITAN RD, PONTE VEDRA 32081

Sun, 02 Oct 2011 19:35:29 GMT

Beautiful almost new Cornerstone home. Gorgeous customization makes this home unique. Versatile floor plan allows for different room configurations. Extended eat-in kitchen with beautiful cabinets and countertops. Crown moulding. Split bedrooms with large master suite. Screened lanai. Preserve lot with fenced back yard. Pavers and upgraded landscaping. Storm room.

New Nocatee Listing in Ponte Vedra!

Fri, 30 Sep 2011 03:00:00 GMT

We just listed a beautiful Cornerstone built home (fabulous attention to detail!!!) in the Austin Park section of Nocatee in Ponte Vedra. This is the best available price in Austin Park right now and is priced at only $230,000. This home is a 3/2 with an office and a versatile floor plan that makes the home feel much larger and allows for different configurations.

This Nocatee home has many fabulous upgrades! The owners had the home customized from the original plans. One of the modifications they did was extending the eat-in kitchen. This created more cabinet and counter space for the cook.

The landscaping is beautiful in the front and back of the home! The home is located on a preserve lot with a nice fenced back yard. There is also a screened lanai and an open patio with pavers.

Nocatee is a beautiful planned community just west of Ponte Vedra Beach in Ponte Vedra, FL. The Nocatee community boasts a shopping center, water park/pool complex with a lazy river, trails and much more.

12841 Attrill RD, JACKSONVILLE 32258

Sat, 24 Sep 2011 19:35:34 GMT

Spacious 3/2 home on large lot with no HOA! Larged fenced backyard. Oversized living area accomodates large furniture. Living/Dining combo. Newly upgraded kitchen with granite countertops, 42' wood cabinets, LG appliances. Laminate wood flooring in living area and dining room. Master bedroom w his and her closet. Master bath with custom tile walk-in shower. Two car garage. Park your boat, plant a garden, great versatile yard!

3342 FITCH, JACKSONVILLE 32205

Tue, 20 Sep 2011 19:35:19 GMT

Great price for a gorgeous Avondale home with FABULOUS upgrades! Beautiful wood floors! Family room with fireplace. Separate dining room. Light and bright with lots of windows. Gorgeously upgraded kitchen, granite, large island w sink and dishwasher, separate bar area, stainless steel appliances. Master bedroom has sitting area and half bath. Fenced back yard with deck. Sunken Florida room with indoor laundry.

Is Your Jacksonville Real Estate Listing Hard to Show? Do You Want to "List" Your Home Or Do You Want to SELL Your Home?

Thu, 14 Jul 2011 03:00:00 GMT

Jacksonville FL Real Estate Market Scenario:

Buyer with their loan lined up calls us because they want to see a Jacksonville condo listing.
Called to make an appointment to show the unit to the buyer. Its tenant occupied so they have to get the tenant to approve showings.
Hours and hours later still no confirmed appointment. Meanwhile anxious buyer wants confirmation that they can get in. Likely can't understand why we can't make it happen for them. Is the home for sale or is it not for sale? Are we even trying to get them an appointment?
We receive a confirmation call, the Jacksonville condo is okay to show.
Great! What is the gate code?
Agent does not know the gate code. Tells us to come before 5:00 (buyer can NOT!!!) so the maintenance people can let us in. Huh???? The agent was not willing to lift a finger to get us a gate code.

Our options at that point (none of them good):

1) Figure out the gate code ourselves

2) Figure out the gate code ourselves

3) Don't show the property.

A Jacksonville home buyer will not buy your home if they can't get access!

If you are a Jacksonville home seller, are you making your listing hard to see? Do you want to SELL your home? Do you know how showing appointments for your property will be made? Do you have any idea how many Jacksonville FL real estate listings are out there? So many times we have such a hard time scheduling appointments to show our Jacksonville home buyers listings that are for sale. When a buyer can not get in to see your home when they want to see it, many, many times they do not come back.

Make sure you know your home is going to be easy to show to potential buyers before you list your home. Make sure your agent is going to do whatever they can to make sure your home is accessible to Jacksonville home buyers before you select that agent to list your home.

How many home buyers are lost because the person who WOULD HAVE purchased that home could not get in?

There is no way to know for sure but we are betting, from our experience, that it is much more frequent than one would guess!

The Jacksonville real estate market is tough. T-O-U-G-H (although a great agent can make it considerably less tough). There are far fewer buyers than there are listings. Do you want to "list" your home, or do you want to SELL your home?

How Nabbing a Jacksonville Foreclosure / REO Property is Like Playing Blackjack

Thu, 23 Jun 2011 03:00:00 GMT

This is a Jacksonville FL real estate scenario that played out this week on our team:

Jacksonville foreclosure property owned by Freddie Mac hit the market last week for $37,900.
Our buyer offered $40,000, cash, two weeks to close. Did not ask for anything extra. Completely clean offer.
Offer submitted to listing agent Friday to expire on Saturday. There was time to submit the offer before expiration.
Agent confirmed receipt but did not submit to Freddie Mac prior to expiration of offer, instead held onto the offer, presumably to help solicit other offers.
Late Monday we get a message that there are multiple offers and we need to submit our highest and best offer along with the Freddie Mac foreclosure multiple offer disclosure form.
Tuesday we heard back that the offer would not be submitted without this form. The buyer was unavailable so we were not able to submit the form that simply said that we had to provide our highest and best by xx date and xx time, we understood there were multiple offers, blah, blah, blah. So from our understanding our buyer's offer was never submitted to Freddie Mac by the listing agent despite being submitted to the listing agent.

So How is Trying to Purchase A Jacksonville Foreclosure Like Playing Blackjack?

This scenario is not the least bit unusual for Jacksonville REO properties. This is the foreclosure game that you have to be aware of if you would like to pick up a foreclosure in the Jacksonville real estate market. You have to give it your best shot because you do not know what cards the dealer, (a.k.a. the listing agent") is holding. But just like blackjack you have to understand the odds are in their favor.

Are there REALLY multiple offers on that foreclosure you just placed a bid on?

Are we seeing multiple offers in this market? Absolutely! What are the odds that EVERY SINGLE foreclosure that we have a buyer bid on really has multiple offers? In our opinion the odds are not very high, yet this is the message we get on every foreclosure, with very rare exceptions.

It does not matter if it is the first day on the market or the 365th day there are almost always "multiple offers." Seriously. We've put in offers months after the homes came in the market and gotten this message. We've also put in offers HOURS after the Jacksonville home came on the market and gotten this message.

So if there are really a zillion offers on every foreclosure properties does that mean that Jacksonville foreclosures are underpriced?

The game is that the home is usually listed for less than it is worth in an attempt to solicit multiple offers and drive the price up over asking. This makes the listing agent look good for achieving multiple offers over asking price. This perception of a job well done occurs even if the home is dramatically underpriced in order to make it look like the home, and the agent, fetched a good price. In return that agent is rewarded with more listings.

Can I even GET a Jacksonville foreclosure?

Of course! If you are a Jacksonville home buyer looking to pick up an REO, work with an agent who knows how the system works. How bad do you want the property? Are you willing to walk away or do you feel like you absolutely have to have this home? This particular buyer wasn't willing to increase the offer on this particular unit based on the comps so it went to another buyer instead. Understand that the amount the home is worth is based on the CLOSED comparable sales for the past 3 months or so (as the market has continued to trend lower). Asking price is somewhat irrelevant if you want to buy a property. Make your offer based on what it is worth and your level of motivation and get geared up to play the game.

Wells Fargo Approval Letter for Jacksonville Short Sale

Fri, 10 Jun 2011 03:00:00 GMT

We got this Wells Fargo short sale approval in under seven weeks! It is on a Ponte Vedra Beach condo that had decreased in value to roughly half of it's 2006 purchase price.

Terms of the approved Jacksonville short sale:

No promissory note
Wells Fargo agreed to waive all deficiency rights
Initially Wells Fargo was requiring $5,000 seller contribution or a $12,000 0% interest promissory note to be paid back over ten years. We got the number down to a $2,500 cash contribution.
All closing costs covered by Wells Fargo.

Seller only missed one payment at the time of the approval, which was not yet 30 days late.

You can see this Jacksonville short sales / Wells Fargo short sale approval letter here.

Are you in a situation where you can no longer afford to keep your home? Have you tried to work things out with the bank to no avail? Call us for an honest evaluation of whether we think we can help you.

Short Sale Closing in Under 60 Days! Wells Fargo Servicer of Ponte Vedra Beach Short Sales

Mon, 06 Jun 2011 03:00:00 GMT

Original Purchase of Ponte Vedra Beach Condo in 2006 - $185,000
Seller's Loan Amount (2006 original amount) - $172,000
Sales Price - $100,000 (First offer received $90,000, but we got the purchase price up $10,000 more) PLUS Buyer paid delinquent condo dues!
Seller Concessions - $0
Seller Cash Contribution - $2,500

Short Sale Approved by Wells Fargo in only 48 Days!!! Sellers had only missed one payment!

Wells Fargo waived the right to pursue a deficiency in writing.

If you are a Jacksonville home owner who owes more than your Jacksonville home is worth, you are not alone. Most Jacksonville FL real estate sellers we talk to these days are in the same situation. This particular Jacksonville home owner had a growing family who had outgrown their living space. We helped them find a new home in St. Johns County, in a new home community, that we helped them purchase from a builder. They planned on leasing out the condo after they moved into their new home. After the closing of their new home, they were denied the right to lease their condo by the association. They had no choice but to try to sell their Ponte Vedra Beach condo.

We were able to help them sell their Ponte Vedra Beach condo for more than fair market value (highest comp in community in the past 6 months). We were able to help the sellers get out from under the burden of two home payments and move on with their life.

Who you choose to work your Jacksonville short sale can make a huge difference. Select someone with experience who knows how to get the job done. Just because someone took a class in short sales, or calls themselves a short sale expert, does not mean that they are. You can only learn to successfully work short sales with experience. Jacksonville short sales are very challenging real estate transactions. They are never easy, and the bad ones are nightmares with seemingly endless obstacles that must be pushed through and problems to be solved. If you choose the wrong agent to help you through the Jacksonville short sale process, you may end up far worse than you started.

The Buyer Side of Jacksonville Short Sales. Why Short Sales Get a Bad Reputation.

Sun, 15 May 2011 03:00:00 GMT

Recent Jacksonville FL Real Estate / Jacksonville Short Sale Scenario:

Buyer fell in love with a Jacksonville short sale property he found on the internet.
Spoke with the listing agent at length. He said a BPO had been done and he knew exactly what the bank would accept. WHICH WAS THE LIST PRICE.
We ran comps and spoke with the buyer who was comfortable proceeding with and offer for the price the bank needed based on the recent sales in the area. The offer amount was for the list price.
4/22 We wrote the offer up, the buyer signed it and we sent it over.
4/26 we were sent the contract back signed by the seller (signature date 4/25 after the offer had expired, however the buyer was still happy to proceed). The home went under contract and was placed as contingent in the MLS system. The seller's agent stated that he was going to send in the contract to the bank that day.
5/6 We checked in with the seller's agent, asking if he had heard anything back yet on the short sale. The response back was that all documents were submitted including the HUD-1 and that he would update us.
5/9 Seller's agent sent us a message back from BOA saying that the file had been assigned to a negotiator. However, upon scrolling down and reading the whole e-mail we discovered that the short sale package wasn't even submitted to Bank of America until 5/6 the day we first inquired about the status and ten days after we were told it was being submitted. (If you are familiar with Jacksonville short sales, you know that you can't afford to "waste" any time before getting everything in because of how lengthy the process can be.)
5/11 Listing agent forwarded us a response from BOA. They were demanding a sales price of approximately $25,000 higher....FAR MORE than the home was worth! The listing agent asked the bank if a new appraisal could be done. He/she was told no because the appraisal didn't expire until the next month.
Upon the demand for above-market-value on the home, the wise buyer decided to select a different home instead. But this buyer, who was sitting on a lease that was running up fast, was out a couple of weeks on a short sale that the listing agent should have either known was not going to happen, or had a game plan to try to work around the appraisal that he had to have known about.

This situation could have been much worse. We could have gone on for months in this contract without knowing that it was a "dead end" for the buyer. The worst case scenario is when a Jacksonville short sale buyer waits for month and month on end, forgoing many other opportunities, to only find out that they are not going to get that house.

We love helping sellers sell their Jacksonville homes. We don't mind taking Jacksonville short sale listings, like many agents do, because we know how to successfully close a Jacksonville short sale. We also appreciate the opportunity to help sellers sell their Jacksonville home and take a step forward to financial recovery.

Helping Jacksonville FL real estate buyers purchase short sales can be a little trickier. Not because we mind getting helping a buyer purchase from a seller in need...we love that part of it. It is very challenging on the buyer agent end of a short sale. When we have the listing, we have control, and know that the Jacksonville short sale is being worked correctly. We know how to work through "no" to get to a "yes." We know how to attack, and keep attacking the challenges that pop up when you are listing a short sale. With a buyer who wants to purchase a short sale, we don't have this power or control of the situation.

Buyer agents who have a buyer that wants to purchase a short sale have limited, to no, control of the situation. We can get an approval on almost any short sale when we are working for the Jacksonville home owner. When we are representing a buyer, it's a toss up.

It is so important to hire the right agent to represent you in the current Jacksonville FL real estate market. The current environment of the market is anything BUT business as usual.

March 2011 64% of Jacksonville FL Houses Sold Were Distressed Properties

Tue, 19 Apr 2011 10:16:00 GMT

Jacksonville FL Houses | Jacksonville Real Estate Market

Distressed property sales, short sales and bank-owned property, continue to dominate the Jacksonville FL real estate market.

The percentage of Jacksonville real estate market transactions that were distressed sales continued to increase from February (up from 62% of sales to 64% of non-builder sales) Other numbers show a worsening real estate market for Jacksonville home owners as well.

In February the percentage of straight resales sold (non-distressed, non-builder) was 35% of the market. In March this number dropped to less than a third of the Jacksonville real estate market sales at only 32% of all sales.

This is negative news for Jacksonville home sellers. Home prices continue to decline with the high level of distressed properties on the market. It is very important for the Jacksonville home seller to price their home correctly to have a shot of competing with the distressed properties.

Jacksonville home buyers are choosing price.

While almost 60% of Jacksonville FL houses on the market today are straight resales (non-distressed, non-builder) that is not what is selling at a high level. As evidenced by the statistics, Jacksonville home buyers are picking from a smaller pool of listings (short sales and bank-owned properties) to look for value. That is why we are seeing such a high level of short sales and bank-owned properties sold, because in general, they are priced at the low-end and represent the best values for Jacksonville home buyers.

2011 Jacksonville Home Seller: Do You Want to Sell Your Jacksonville Home? Or Be Noise?

Tue, 12 Apr 2011 03:00:00 GMT

Jacksonville home buyers are looking for value. Period. The end.

If you are thinking about selling your Jacksonville home, can you give them that?

This is not 2006. This is 2011. There are many things about your home that you may love, but Jacksonville home buyers can do without. They are no longer willing to overpay. They will go down the street to the one that they don't like quite as much, but has a more favorable price tag. Everything is relative to the competition in your particular niche of the real estate market.

Home buyers do NOT CARE how much you owe the bank. They are not going to pay more for your home just because you have to have that much to pay off your mortgage.

Jacksonville home buyers have an excessive amount of inventory to choose from, why would they choose yours?

When your Jacksonville home is overpriced, you serve one function....you create noise for the savvy home sellers in Jacksonville FL that chose to price their home correctly. In short, YOU MAKE YOUR NEIGHBORS HOME LOOK GOOD! When you are overpriced you help to sell someone else's home for them. (Ouch?)

Jacksonville home buyers chose the home they chose for one reason these days...VALUE.

Can you give them that? Or are you just noise?

Jacksonville home sellers can usually avoid months and months of frustration just by pricing their homes right. They usually end up netting more money if the home is priced right from the beginning. (Do you want to sell your home for $X today, or $X minus thousands, ten months from now...) Hear about how there is nobody looking at homes? This is not the case. When the price is good, so is traffic.

Jacksonville home buyer traffic is good!

We get a lot of buyer showings on our houses for sale that are priced right. Buyers know right away when your home is not.

We often get multiple offers on our listings that are priced right. Multiple offers???? In this market???? YES!

Call us for an evaluation of what the right price is for your home before you put your home up for sale. You can count on honesty and the analysis and presentation of comps to back up today's value of your home.

More information on Houses for Sale Jacksonville FL

Jacksonville FL Subdivisions - Jacksonville Home Search Help for Nocatee, Bartram Springs, World Golf Village, Palencia and more!

Sun, 10 Apr 2011 07:47:00 GMT

We offer FREE Jacksonville home buyer services (we help you buy your new home and our help costs you NOTHING!) and tools for Jacksonville home buyers. We provide a lot of information to the general public in hopes that you will call us when you are ready to buy your new Jacksonville home. We are always striving to provide better tools for those looking for houses for sale in Jacksonville FL. This starts with our Jacksonville real estate website. We just made some major improvements to some community pages and wanted to let you know.

Large Planned Communities in Jacksonville FL area:

Nocatee FL - Real estate information and houses for sale Ponte Vedra FL (huge new community located in St Johns County in Ponte Vedra Florida . Just minutes south of Jacksonville, community starts at US 1 and ends at intracoastal in Ponte Vedra.
Bartram Springs FL - Real estate information and houses for sale Jacksonville FL (development in Duval County between Old St Augustine and Racetrack road just west of I-95)
World Golf Village FL - Real estate information and houses for sale St Augustine FL (halfway between St. Augustine and Jacksonville just west of I-95)
Palencia in St Augustine FL - Real estate information and hones for sale in Palencia. Palencia is located between US1 (east of I-95) and the intracoastal waterway approximately 15 minutes south of Jacksonville FL.

Other Jacksonville FL home information and St Augustine FL home information:

210 Corridor Real Estate - Real estate information, houses for sale and subdivision information for the 210 Corridor which is the dividing line between St Johns FL (32259) and St Augustine FL (32092) just west of I-95.

World Golf Village area communities (n0t part of WGV) located off of International Golf Parkway west of I-95 in St. Augustine FL.

MuraBella
Sevilla

Other Houses for Sale Jacksonville FL

Jacksonville Golf and Country Club - Jacksonville FL real estate located in the Southside area of Jacksonville off of JTB between Kernan and Hodges.

Other Houses for Sale St Augustine FL

Kensington - Kensington is a newer home community (non-CDD) located in the Palencia area of St Augustine FL approximately 15 minutes from Jacksonville FL

Jacksonville Real Estate and Jacksonville Short Sales: Higher Credit Score Requirements? Higher Down Payment Requirements? Will This Really Prevent a Future Housing Meltdown?

Thu, 31 Mar 2011 09:43:00 GMT

I find the constant chatter about the need to increase the credit score requirements and down payment requirements to prevent a future meltdown in the US and the Jacksonville real estate market small thinking. Really??? Do you think it's that simple?

Subprime?

Sure subprime was part of it. Based on my observations, this is where it started in the Jacksonville real estate market. That was the first round of Jacksonville foreclosures and Jacksonville short sales that we saw back in 2007/2008. But it was a small part of it.

When Banks Cutoff Lending The Crash Began...

We argue that this has not been the main problem we have been seeing for the past couple of years. High credit scores did not make sellers a low credit risk during the current housing meltdown. High down payments did not make sellers a low credit risk during the current housing meltdown. The US and Jacksonville housing market statistics, for anyone who wants to delve in and pay attention, shows that it simply is not about higher down payments and higher credit scores.

Can You Please Open Your Eyes and Look at the Big Picture?

Many people who have lost their homes through foreclosure or filed bankruptcy had higher credit scores and higher down payments than current requirements or what has been discussed. Do you realize the game the banks were playing with butchering and selling off mortages? Creating funds to buy the funds? Tampering with ratings on the securities? Creating a secondary market that kind of never really existed but was a carefully orchestrated illusion?

When a person's home equity erodes, so does his confidence. When a person loses his or her job, it doesn't matter how much of a down payment they put in or how high their credit score is.

Is the Equity Created By Your Higher Down payment Still There?

Does no one who is blaming it on credit scores and down payments realize that the higher down payments people made were quickly eaten up with the rapid erosion of Jacksonville real estate values? What difference did it make when someone put down a high down payment for their Jacksonville home purchase? We would argue, not much difference at all, if any.

We have been working Jacksonville short sales for years. What we are seeing is not people who had low credit scores or a low down payment. We are seeing hardworking people who had their world turned upside down when their income decreased significantly and they could no longer pay their bills.

What about the person with a 750 credit score that put 20% down?

They are not immune to what is going on right now! Do you really think they still have that 20% equity? They are underwater too. Do you think the 750 credit score will guarantee that they keep their job?

You really think higher down payments or higher credit scores are going to significantly change anything? We think not. It all comes down to the economy. Do people have jobs? Do they have security? Please stop with the simplistic views and judgmental language. Do you really think anyone wants to be in that position?

Jacksonville Short Sales - Sellers Are Not at Fault!

We see such horrible situations in Jacksonville short sales. We do not blame anybody who is in the situation where they now have to short sale their home. They did not crash the housing market. Today's seller who can no longer keep their home has no choice but to sell it today for what the market can bear. For what banks will give buyers a loan for which is all based on what houses are selling for today.

It's so much more complicated than a credit score and a down payment. By increasing the criteria now, we are just going to see the Jacksonville real estate market, and other markets across the country continue to decrease since it will further limit the pool of available buyers.

Nocatee Real Estate in Ponte Vedra Florida: Nocatee Homes for Sale. We Provide Experienced FREE Help for Buyers.

Tue, 22 Mar 2011 03:00:00 GMT

Nocatee is a beautiful new home community in Ponte Vedra Florida (32081 zip code). If you are looking for Northern St Johns County real estate then Nocatee real estate deserves consideration!

We can help you for FREE whether you are looking for a resale in Nocatee or a new home from a Nocatee home builder.

Did you know the builders will pay for us to help you purchase a new Nocatee home from them? We can help you find your new Nocatee home and help you through the process like we have helped many other Jacksonville new home buyers.

Do you know the builder incentives you may be eligible for?
Do you know that you should still get a home inspection?
Do you know the lending options you may have?
Do you know about CDD fees and what they mean to you?
Do you have access to sold comps?
Do you know the options you might have?
Do you know what other Nocatee homes have recently sold for?
Do you know that you can negotiate with builders?

We can help you sort through the details of your purchase of Nocatee real estate FREE to you!

Nocatee Homes For Sale - Nocatee Real Estate Listings:

Nocatee real estate includes the communities of:

Kelly Pointe (Single family detached homes)
Austin Park (Single family detached homes)
Coastal Oaks (Detached Homes and Townhomes)
Willowcove (Single family detached homes)
Riverwood (Single family detached homes)
Tidewater (Condos)
Greenleaf Village (Single family detached homes)