A modest gain in the level of home sales is possible over the next couple months, and an improvement is forecast for the second half of this year as more buyers are able to access affordable mortgages, according to the latest forecast by the National Association of REALTORS®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in April, rose 6.3 percent to 88.2 from a reading of 83.0 in March. It’s the highest index since last October, but remains 13.1 percent lower than April 2007 when it stood at 101.5.

Lawrence Yun, NAR chief economist, said pending-sales contracts have picked up notably in areas undergoing significant price drops. “Bargain hunters have entered the market en masse, especially in areas that have experienced double-digit price declines, but it’s unclear if they are investors or owner-occupants,” he said. “Sharp price reductions are leading to a quicker discovery of price equilibrium points. The West is already seeing year-over-year gains in pending contracts.”

NAR President Richard F. Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif., said the market may be breaking its holding pattern. “It appears that more buyers are realizing they can take advantage of a favorable combination of mortgage interest rates, home prices and family income,” he said. “Overall affordability conditions are the best we’ve seen since the middle of the housing boom in 2004, but with far more choices and much less pressure than buyers experienced four years ago to make an investment in their future. Recent declines in mortgage rates on conforming jumbo loans and a return to sound but not overly stringent underwriting standards will permit more people to qualify for a loan.”

NAR’s housing affordability index has been trending up this year and is projected to rise 15 percentage points to 128 for all of 2008.

“Although mortgage interest rates will remain historically favorable, they will start to steadily inch up,” Yun said. The 30-year fixed-rate mortgage should rise gradually to 6.3 percent by the end of this year, and then hold at that level for most of 2009.

Yun said the underlying fundamentals point to a pent-up demand. “Home sales are at about the same level as they were 10 years ago, yet the population has grown by 25 million people and we have over 10 million more jobs,” he said. “The housing market has been underperforming by historical standards, partly because buyers were hampered by mortgage availability issues, but that’s improved and an upturn is more likely. On the other hand, it’s unclear what role consumer confidence will play in the coming months.”

Existing-home sales should increase from an annual pace of 5.05 million in the second quarter to 5.83 million in the fourth quarter. For all of this year, existing-home sales are expected to total 5.40 million, and then rise 6.3 percent to 5.74 million in 2009. “Sales gains will be greatest in areas that underwent sharp price declines,” Yun said.

Date Added: 6/10/2008

Latest Home SOLD in Middleburg FL, located southwest of Orange Park, FL!

Address: 1879 Sheraton Lakes Circle, Middleburg, FL 32068

Thinking of renting your home in the Orange Park, Fleming Island or Jacksonville area? Then think Perkins Realty Property Management!

“Property Management is a business that requires day-to-day involvement with landlords and tenants. It’s a lot more than finding a renter and collecting rents. The most important thing is to save the landlord time and money while maximizing the return on their investment dollar. It just makes sense to Pick the Perkins.” –Roger Perkins

Here’s what we guarantee:

• Tenant Placement -- We find more tenants because we do more advertising. Marketing is the key to any successful search for a renter. As anyone in Clay County knows – no one advertises more than the Perkins!
• Multiple Listing Service (MLS) -- All local REALTORS® will know that your house is for rent.
• Electronic Lockbox -- We make it easy for REALTORS® to show your home. They would rather show homes with a lockbox than have to go across town to pick up a key.
• Tenant Screening -- Credit, criminal, eviction history and more.
• Lease Preparation --Through a Florida Attorney specializing in Landlord/Tenant law, at no additional cost to you.
• Escrow Services -- We escrow the deposits and account for all funds.
• Repair Requests -- We personally inspect problems when a tenant calls. Our policy is to go to the property and see if we can make the repair at no cost to the landlord before we orders repairs. Sometimes it’s a very simple fix that we can do ourselves and avoid calling a licensed contractor. You don’t need to call an electrician to turn a tripped breaker back on. Often it’s an easy fix and will cost you nothing.
• Rent Collection -- We collect the rent and pay you by check or direct deposit.
• Showings 7 Days A Week -- Whenever convenient for the prospective renters!
• Free Truck -- Often this is the deciding factor when making a decision on which house to rent. The truck gives them an option with minimal out of pocket expense.

Latest Property SOLD In Middleburg, located southwest of Orange Park, FL!

Address: 1814 Sherwood Drive, Middleburg, FL 32068

Just south of Orange Park is a new listing in Harbor Island!



Address: 1697 Dockside Drive, Orange Park, FL 32003

In the Real Estate industry is very common to see people desperate when the market turns cooler whether is for buying a home or for selling a property. Homebuyers may tend to throw money out just for not losing a property while sellers go around in fear about over pricing or pricing downer in order to sell the property anyway. In all cases you need to hire a professional Real Estate Agent skilled enough in the two areas: buying and selling. If you are determined to sell a home, think firmly about if you actually need to sell the property in a cooling market. If you really must sell the house, try to centre your money and energy into generating a curb petition. Be reasonable with your aspirations on pricing and timeline to sell the property. Listen carefully to your Real Estate Agent throughout the whole selling process especially about pricing. He/She will help you to set up the most realistic price for your property according to your competitors within the market. Your Real Estate Agent will also assist you in getting the best strategy to attract buyers for your house. Don’t be afraid of selling a home in a cooling market. You will sell the property to the right buyer and at the right price.

If you are determined to buy a home in a cooler market, just do it! A cooling market is the best thing a homebuyer can experience. There are numerous options for them to choose from big inventories to even low prices. However you need to be smart enough to make the offer and negotiate it. Don’t think that for being in a market that is just working on your side you don’t need help. Wrong! Don’t speculate with that. The assistance of a professional Real Estate Agent is a must even in a buyers’ market.

Article published by BlueOneRealty

Address: 1596 Shelter Cove, Orange Park, FL 32003. Located in Eagle Harbor on Fleming Island, just south of Orange Park, FL.

Address: 1999 Rivergate Drive, Orange Park, FL 32003

GORGEOUS 5/4 HOME WITH LAGOON VIEWS AND LOTS OF ROOM!

This beautiful 3,014 square foot, 5 bedroom, 4 full bath home starts with great curb appeal & professional landscaping! The flooring is ceramic tile in the dining room, living room, kitchen, family room and hall. There is wall to wall carpet in all of the bedrooms, the stairs and the 5th bedroom or bonus room. The family room has an electric fireplace, custom mantle and built-in shelving. The entire home is light & bright with gorgeous lagoon views! The large kitchen has 42 in. maple cabinets, a center island with an electrical outlet, a breakfast bar & nook and a walk in pantry. Lots of storage! All of the bedrooms are spacious. Bedroom #4 has a very deep closet with shelving. The bonus room is huge and has a full bath and great water views! The lanai is very large, partially covered and has a screen enclosure, ceiling fan, electrical outlets and plenty of room for a hot tub. Attached is a 3-car garage. The custom wood blinds, plantation shutters, ceiling fans, lighting fixtures and custom window treatments all convey. This community's convenient location offers great schools and a variety of leisure activities like shopping in Fleming Island Shopping Center, golf courses, biking/hiking trails, water recreation in Doctor's Inlet, the St Johns River and Black Creek.

New listing in Green Cove Springs, just south of Orange Park, FL!

Address: 538 Chinckapin Ct, Green Cove Springs, FL 32043

New Listing in Green Cove Springs, just south of Orange Park, FL!

Address: 3076 Majestic Oaks Lane, Green Cove Springs, FL 32043

Address: 2207 Trailwood Dr, Orange Park, FL 32003
Sold Date: 6 June 2008
Sold Price: $190,000

The glut of U.S. properties for sale is about to hit the American rental market.

A record number of homeowners who cannot sell condominiums and houses are competing for tenants with the country's biggest apartment owners like Equity Residential, of Chicago, said Jack McCabe, the founder of McCabe Research & Consulting, a consultancy based in Deerfield Beach, Florida. Metropolitan New York, where demand for housing exceeds supply, may be the only place where rents increase, albeit at a slower pace, he said.

"Competition already is forcing the big apartment owners to offer concessions like two months' free rent," McCabe said.

Vacant rental apartments rose to 6.1 percent in the United States during the first quarter of the year, the most in almost two years, even as the average monthly rent reached a record $991, said Sam Chandan, chief economist of Reis, a real estate research company. New York had the lowest vacancy rate in the first quarter, he said.

Nationwide, 2.8 percent of houses for sale were unoccupied in the first quarter, the highest since the U.S. Census Department started collecting the data in 1956. Unsold properties on the market totaled a record 3.45 million in 2006, according to the National Association of Realtors, in Chicago.

"Unsold properties being turned into rental units are creating a shadow market that's driving up the vacancy rate and slowing the growth of rents," Chandan said in an interview. "Areas that saw the most speculative investing, particularly in condos, will see the biggest pressure on rents."

Anthony De Silva said he was not happy to become a landlord. He bought a two-bedroom condominium on the ocean in Florida, 18 months ago expecting to sell at a $100,000 profit. Instead, he is looking for tenants at $1,700 a month.

"I don't want to sell for less than I paid, so my only choice is to rent it," said De Silva, 45, a New Yorker who made $80,000 in November 2005 by flipping his first Florida real estate investment, a condominium in Fort Lauderdale. At the time, prices had gained 29 percent from a year earlier, the peak of the market in that area.

U.S. real estate prices "continued to weaken" in many districts during March and April, the U.S. Federal Reserve Board said last week in its regional survey known as the Beige Book, for the color of its cover.

Source: International Herald Tribune

SALE PENDING IN ORANGE PARK/OAKLEAF PLANTATION!

Address: 552 Millhouse Lane, Orange Park, 32065

TWO PROPERTIES RECENTLY SOLD IN MIDDLEBURG, FL!

1. Address: 1978 Cloister Ct, Middleburg, FL 32068

2. Address: 3425 Alec Dr, Middleburg, FL 32068