At Perkins Realty we believe there is. If you own a home in Clay County and are faced with the budget dilemma of a mortgage you can no longer afford due to a variety of financial pressures confronting so many of your neighbors today throughout Orange Park, Fleming Island, Middleburg, or Green Cove Springs, know that you are not alone. The good news is there are professionals and processes in place to help you navigate out of the situation. It requires team work between you, your lender, and your Realtor, and having a Realtor experienced in the processes is one of the most important steps you can take when selling your home in Clay County.
By now it is not uncommon to hear about foreclosures or short sales in Clay County and around the country. They’re called lender-mediated sales, which includes foreclosures and short sales. The statistics for home sales in Northeast Florida demonstrate that this is a current trend – there are many people in the same situation and therefore the market for home sales in Clay County is being influenced in a number of ways by this activity.
The following was recently reported by the Northeast Florida Association of Realtors (NEFAR) for home sales in the Jacksonville region:
In May 2010 there were 608 closed lender-mediated home sales representing a 29.1 percent increase over May 2009, compared with the 2.4 percent increase to 824 traditional home sales during the same period. Lender-mediated sales, which include foreclosures and short sales, accounted for 42.5 percent of the 1,432 sales in May, compared with 36.9 percent of the 1,276 sales in May 2009.
So we see there are more and more lender-mediated home sales in Clay County, but what does this mean for you – the home buyer or seller? It means you can have confidence that if you are in need of correcting a distressing situation with your home, you have options and you have informed and prepared professionals to make it happen. Realtors, including our team at Perkins Realty, are taking the initiative to become educated and expert at how to efficiently conduct the transactions, responding to the detailed requirements lenders have to complete the process of selling your home or helping you purchase a new home. You can count on Perkins Realty to be your advocate through the whole process and accomplish your real estate goals.
NEFAR also reported the median price of homes in Jacksonville fell 15.7 percent in May to $139,900. The lender-mediated median price drop was 21.3 percent to $94,500 and the traditional median price fell 12.8 percent to $162,000. As a buyer, you can have confidence that the market is stabilizing at a point where you will be able to find a home you can afford. Total home sales in the Jacksonville region rose 12.2 percent in May. This is good news for home sellers as well as it gives you a clear indication that your goal to sell your home in Clay County is looking brighter. It indicates that while the guidelines may have changed, people are being approved for home loans.
As either a buyer or a seller, patience is required in this current era of lender-mediated home sales. Working with your Realtor will ease the anxieties regardless of whether you are buying or selling because we have taken the time and care to become expert at understanding the process and can help you negotiate the increased level of requirements for navigating foreclosures and short sales in Clay County. The pay off in the end is that you can achieve your goal to either buy or sell your home in Clay County and look forward to the next step on your life’s journey.
We hope you’ll choose Perkins Realty for your next home whether buying or selling!
