Jacksonville Real Estate Agent

Here's what Clay County Real Estate in May 2008 looked like:

Here's what Clay County Real Estate in May 2007 looked like:

These figures are based on residential homes (single family, town homes & attached). They exclude condos, commercial property and vacant land. Information is deemed to be reliable, but is not guaranteed.

 Read Also: Clay County Florida Real Estate: Market Watch April 2008 & 2007

Here's what Clay County Real Estate in April 2008 looked like:

Here's what Clay County Real Estate in April 2007 looked like:

These figures are based on residential homes (single family, town homes & attached). They exclude condos, commercial property and vacant land. Information is deemed to be reliable, but is not guaranteed.

 Read Also: Clay County Real Estate Market Update March 2008 & 2007

1013 Chapeltown Cir, N Jacksonville, Fl 32225

Wonderful floor plan, with seperate dining room and living room. Large eat in kitchen overlooking the family room with wood burning fireplace. Take a relaxing bath in the master bath garden tub. Step out back to a large backyard. Needs new carpet throughout.  4 bedrooms, 2 bathrooms with 2046 square feet. This is a short sale, lender approval required. Offered for only $209,000

Here's what Jacksonville Real Estate in May 2008 looked like:

Here's what Jacksonville Real Estate in May 2007 looked like:

These figures are based on residential homes (single family, town homes & attached). They exclude condos, commercial property and vacant land. It also does not include Jacksonville beach, Atlantic Beach or Neptune Beach. Information is deemed to be reliable, but is not guaranteed.

Read Also: Jacksonville Florida Real Estate: Market Watch April 2008 & 2007

Not much change in May 2008, although I do notice that the numbers for 2008 are starting to close the gap with the numbers in 2007. This could show us a  positive change for the real estate market in Jacksonville, however it will be at a slow gradual turtle pace. Given the fast upward swing of the real estate market in 2005, I can see how  the turtle does beat the hare in the end!

The first one really isn't much of an alternative but needs to be discussed, however briefly.......

Do Nothing-  When you're faced with the possibility of losing your Jacksonville home and your stress level has hit an all time high, you might want to throw in the towel, move out and let your house go into foreclosure. Then it's over, done with, a chapter in the book written and time for the new chapter to begin (unless your house is sold for less than the loan amount at the auction and you receive a deficiency notice saying you still owe the difference) However, you're faced with a foreclosure on your credit for about 7 years. It will be difficult to purchase a home again with foreclosure on your credit. You may decide not to buy a house, but having a foreclosure can affect other things, for example car insurance. You will pay more with poor credit then you would if you had good credit.

Refinance- You may be able to refinance your existing loan, however with the subprime lending in it's current state, that may be difficult or nearly impossible.

Reinstatement- You pay the entire default amount including attorney fees, late fees, before your house goes to auction.

Loan Modification- Your mortgage company may be able to extend the terms of your loan. 

Forbearance- The lender may agree to provide a temporary payment reduction or suspension of payments.

Partial Claim- A loan from the lender for a second loan to include back payments, costs and fees. 

Deed in lieu of foreclosure- You give the property back to your lender without going to foreclosure. This option could be as damaging to your credit as a foreclosure.

Bankruptcy- This could allow you more time and get rid of some of your debt. This may affect your credit for 7-10 years.

Sale- You can sell your home before your house goes to auction, it's possible to sell it even if you don't have enough equity. Your agent may be able to negotiate a short sale (when the bank accepts less than what you owe on your mortgage) with your lender.

If your facing foreclosure or just having a hard time making your payments, contact me  and we will discuss your options!

Read also: April 2008 Market report for Jacksonville Florida