Existing Home Sales Go Up

According to the National Association of Realtors, existing homes sales went up in November. The local Jacksonville movers learned that about 5.04 million existing homes would be sold in 2012. The number represents a significant increase of 14.5% compared to last year. The Jacksonville moving specialists also learned that the average price went up 10.1% from a year ago to $186,600. The month of November has been really good for the real estate industry, marking the ninth month of year-over-year price increases. The All My Sons of Jacksonville figure since there have been more jobs out there, a decrease in the unemployment rate and rising rents, home purchases have been more popular. The inventory of homes is still dropping which is also contributing to the higher price tags of homes. In November, the local Jacksonville movers learned only 2.03 million homes were listed on the market. That's just enough to last 4.8 months instead of the healthy-balanced one of 6 months. All My Sons of Jacksonville learned that September 2005 was the last time the supply was lower. 

Are you looking to purchase an existing home? If so, you'll need professional movers to help you on moving day. Hire the Jacksonville movers for professional moving services at an affordable moving quote. 

Job Report in Real Estate

The latest monthly job report just came out for the month of November showing better job growth than expected overall, but the Jacksonville movers discovered, not so much for the real estate industry. The professional movers learned that construction was down affecting of course the real estate market. According to the U.S. Labor Department’s job report, there were 146,000 new jobs in November 2012 with the unemployment rate dropping to 7.7% compared to October’s 7.9%.

However, the Chief Economist at the popular real estate search engine Trulia noted the job report showed a decrease in construction jobs. Employment is looking better for 25-34 year olds (prime age to buy a house) but the national construction employment decrease by a significant 12.7%. The local Jacksonville moving specialists learned that over the past three months, construction jobs have decreased by 0.4%.

The local Jacksonville movers are wondering what your job situation is like? Has the economy been good to you? 

Sandy Victims Get Help

The local Jacksonvillemovers are happy to hear that Sandy victims are getting help getting their homes back in shape after the superstorm. All My Sons of Jacksonville learned the Federal Emergency Management Agency rolled out a pilot program to speed repairs in New Jersey. The Sheltering and Temporary Essential Power program (STEP) in New York is now extended to five counties in New Jersey, providing up to $10,000 for quick fixes allowing them to live int heir homes while waiting for bigger repairs. The Jacksonville moving specialists learned that over 2,600 New Jersey households were still living in hotels or temporary quarters paid for by FEMA. Countless others are staying with friends and family. So almost a month after the superstorm, many are still displaced due to lack of heat, hot water and electricity. STEP will make certain households habitable and help prevent additional damage during the cold season. The Federal government is paying for 75% of the work, while 25% is paid for by municipal governments.The local Jacksonville movers learned the program is paying for the repairs of electrical meters, heating, hot water systems and outdoor repairs. After getting the grant, residents have two months to complete the repair work.

All My Sons of Jacksonville found out that in New Jersey, the program is available to people living in Atlantic, Cape May, Middlesex, Monmouth and Ocean counties. In New York, it's available to residents of the five boroughs plus Nassau County.

Jacksonville Movers Learn Foreclosures Aren't Cheap Anymore

It used to be that buying a foreclosed home meant you got an amazing deal, saving a lot of money. Investors and first time homebuyers snatched those up fast for the last several years. But these days, a new Zillow study states that foreclosed homes are only discounted at about 7.7%. Zillow compared the average sale price of foreclosed homes versus non-foreclosed ones, but the type of homes that were compared weren't necessarily equal in size or location and amenities. The local Jacksonville movers learned that Detroit showed a 59% difference in foreclosure prices versus non-foreclosed prices, but the properties weren't equal. For example, the average foreclosed property was 1,200 square feet and the average non-foreclosed one was 1,700 square feet in size. 

Zillow found that the biggest foreclosure discounts were available in 2009, when foreclosed properties were selling at 23.9% below market value. The local Jacksonville moving specialists found out that the 7.7% difference between foreclosed properties and non-foreclosed is an average though, some places have no difference at all like Phoenix and Las Vegas properties. In Cleveland and Pittsburg, a foreclosed property goes for at least 25% less than a regular residence.