Why it’s Still a Great Time to Own a Jacksonville Florida Property

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Buyer

If the grim real estate news around the nation has you feeling a bit defeated, then perhaps it’s time to point out all the positive factors in the Jacksonville Florida real estate market.

  1. Florida homes are priced competitively. This means that your next dream home may become a reality. Prices for Florida homes have fallen about 20 percent over the last year, making owning a home a reality for many Florida homebuyers. For many, the drop in home prices have enabled Floridians to purchase homes that were, up until a couple of years ago, out of reach.

  2. Sales are increasing across the board. In fact, many real estate agents throughout Florida have noticed a sudden increase in sales volumes – an indicator of an improved market. According to the Florida Association of Realtors, sales of existing homes were up five percent this year, in comparison to this time last year.

  3. There are plenty of homes on the market in Jacksonville Florida. Because inventory is plentiful throughout the state, homebuyers now have a great selection of homes from which to choose. It is important for homebuyers to understand that although the inventory of homes is plentiful, this may change as sales continue to increase.

  4. Mortgage rates are low. For many homebuyers, a low mortgage rate can mean the difference between not being able to purchase a home and finding a home that’s right for them. Low mortgage rates also allow Florida homebuyers to purchase more expensive homes than they would have been able to afford otherwise.

  5. Federal tax incentives still exist. The first-time homebuyer tax credit, which remains throughout the end of the year, offers an $8,000 tax credit to first-time homebuyers.

  6. Long-term growth is expected. Florida’s economy is expected to continue to grow, and some economists have forecasted that Florida is set to become the third-most-populated state in the country. Homeowners will therefore benefit from increased home values and more job opportunities, just to name a few.

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Date: Monday, March, 16th 2009 @ 01:28:00 PM
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