More Refinancing Thanks to HARP

According to a new report from the Federal Housing Finance Agency, there are 53,758 borrowers owing more than 125% of what their home is worth that refinanced in June. The local Jacksonville moving specialists learned that that number represents almost five times the number of people that took advantage of the HARP program in the first five months of the year. An extra 24,258 who were less several underwater also refinanced. The All My Sons of Jacksonville moving team found out that to be eligible for the HARP program, homeowners had to be current on their mortgage with loans backed by Fannie Mae and Freddie Mac. Some lenders are also reducing principal on severely underwater mortgages. The local Jacksonville movers have refinanced about 422,969 loan through HARP this year, with over 400,024 in 2011. In Nevada, Arizona and Florida, over 80% of the loans refinanced through HARP in June were for homeowners who owed over 105% of the value of their home.

The Real Estate Market is 32% of the Way Back to Normal Levels

There's a lot of information out there regarding the real estate situation in America, as people try to figure out what their next step is. There's mixed messages at times regarding the recovery, some are saying we're doing better with more home sales and higher sales prices, while others are not quite so convinced. The local Jacksonville moving specialists found out that Trulia states that the market is 32% of the way back to normal. This data seems to be better than June 2011 when the market was said to be only about 22% on its way back. What Trulia means by on its way back to normal it means to pre-bubble levels, before the housing bubble burst. The All My Sons of Jacksonville learned Trulia took a close look at housing construction, existing home sales and the delinquency or foreclosure rate. In June of 2012, housing construction was up by 24%, making it 28% of the way back to normal. Existing home sales dropped during these past few months, and were at 49% of pre-bubble levels in May and 35% of pre-bubble levels. Delinquent mortgages and foreclosures increased in June to 11.23% from 11.08% in May, placing the rate at 34% of the way back to normal levels. The last time Trulia measured the overall real estate market in April, it was at 37% of the way back to pre-bubble levels compared to todays 32%.


What's your real estate reality? Are you buying? Selling? Moving? Call the Jacksonville movers for professional residential moving services. The All My Sons of Jacksonville movers are backed by four generations of reliable movers and are part of All My Sons Moving and Storage.

Short Sale on the Rise This Summer

Experts are saying there will be an uptick in the number of short sales for distressed properties throughout the next few months. The short sales market is expected to hit an all-time peak this year, because bankers are realizing short sales are better than foreclosures. The local Jacksonville moving specialists remind you that a short sale is underwater homeowners selling their houses despite owing more on the mortgage than the property is worth. Many banks are now choosing to forgive the remaining debt on the mortgage, which in the past was still owed to bank/lender/. The local Jacksonville moving specialists learned the Obama administration is really supporting this idea of short selling properties and has put in place a few programs to help make the transition. For example, in the past, a loan amount forgiven used to count as taxable income, but these days it's no longer the case. Due to new reports regarding the first quarter of 2012, the number of short sales increased 25% and was at the highest level in three years.


Are you going through a short sale yourself? Will you have to move to a new home? Consider the local Jacksonville moving specialists for an affordable moving quote and reliable movers. The All My Sons of Jacksonville are part of a huge network of professional movers with countless moving offices across the U.S. The Jacksonville movers deal with everything from commercial moves to long-distance moves as well as auto moves.

Less Home Sales in June

According to the National Association of Realtors' Pending Home Sales Index, the number of contracts signed to buy existing homes decreased in the month of June. Some say that's due to the smaller inventory of homes on the market, making it difficult for potential buyers to find what they're looking for. The local Jacksonville movers learned that there 1.4% less homes for sale in June compared to the previous month. However, the good news is that that number was up 9.5% compared to last year during the same time. Buyers are definitely interested to own, however less home listings, mean fewer contract signed. The inventory of houses on the market has been steadily declining, which is even more significant in the lower-priced homes learned the All My Sons of Jacksonville. Especially when it comes to first-time buyers and investors. Sales of new homes also declined in June, by 8.4%. The local Jacksonville moving specialists learned that a low inventory of homes is not the only thing that's affecting home sales. Even with historically-low mortgage rates, many potential buyers can't qualify for the mortgages because of credit.


Are you in the market for an existing home? Are you moving into a new residential area in and around Jacksonville, FL? If so, call the All My Sons of Jacksonville for professional moving services along with an affordable moving quote. You can expect excellent customer service, expert moving know-how and a stress-free moving day.