Jaxbuyer Blog

Bad market?  Who says?  Personally, I am excited about this market!  I know you've heard it, "low home prices, low interest rates", yada yada yada.  Here's the real deal...historically speaking, this is the absolute best time to buy a home.  Whether it be your first or second home, an investment, or your dream home, today is an opportunity....and from the looks of things, the opportunity is fleeting. 

Lets take a look at the Jacksonville area statistics for the last 5 years from the months of May to June:

2005: 2,167 Homes sold - average sales price: $251,881

2006: 1,968 Homes sold - average sales price: $274,692

2007: 1,484 Homes sold - average sales price: $270,479

2008: 1,119 Homes sold - average sales price: $231,761

2009: 1,098 Homes sold - average sales price: $181,804

The funny thing is, as home prices were at their peak, MORE people were buying homes.  As they began to fall, less and less buyers were buying.  WHAT IS WRONG WITH THIS PICTURE?  People were buying MORE homes when the choice was smaller and the price was higher, and now that prices are finally affordable for MORE people, we are going to be timid in purchasing!?  I once heard a well-known (very wealthy) economist say, "Smart people buy when prices are low and sell when prices are high". 

Here is a question:  How will you know when the perfect timing is to buy a home?  Answer: You won't until it begins to climb back up.

So, as I said in the beginning, let the media say what it wants....For me, and anyone else who wants to take advantage of it, this is an EXCITING market!

*stats taken from NEFMLS records.