Is it too early to exhale? Our market appears to be improving.
According to NEFAR (Northeast Florida Assoc of REALTORS), lender mediated home sale (short sales, foreclosures and distressed sells) numbers were down in August! There were 729 lender mediated sales in August of 2010 and 626 in August of 2011. D-O-W-N.
The median sales price of lender mediated homes is also down. The median sales price in August of 2010 was $87,450 and in August of 2011 the median price of a lender mediated home was down to $81,000. So, being the rocket scientist that I am, I have figured out that things are looking better! ESPECIALLY if you're a Buyer! The number of "problem homes" is down and the prices continue to drop. GREAT TIME TO BE A BUYER! Could it be...are we finally at the bottom?
Now don't be a naysayer and tell me it's because of the robo-signing fiasco. I have heard rumors that there has been a virtual FREEZE on all foreclosures until the mess is sorted out. This could have a little bit to do with it....but surely there is some real improvement there?! ?! The numbers don't lie! ...or do they?
We currently have a robust 8 month supply of homes on the market. When we get that down to a manageable 6 months of inventory, I think we'll turn the corner.
Let's hold our breath one more month and see what happens in September. I'll keep you posted.
Thinking about buying? Call me today.
According to NEFAR (Northeast Florida Assoc of REALTORS), lender mediated home sale (short sales, foreclosures and distressed sells) numbers were down in August! There were 729 lender mediated sales in August of 2010 and 626 in August of 2011. D-O-W-N. 
Now don't be a naysayer and tell me it's because of the robo-signing fiasco. I have heard rumors that there has been a virtual FREEZE on all foreclosures until the mess is sorted out. This could have a little bit to do with it....but surely there is some real improvement there?! ?! The numbers don't lie! ...or do they?We currently have a robust 8 month supply of homes on the market. When we get that down to a manageable 6 months of inventory, I think we'll turn the corner.
Let's hold our breath one more month and see what happens in September. I'll keep you posted.
Thinking about buying? Call me today.
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