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.

The Jacksonville Present Home Insurance

With what happened with hurricane Sandy last month, people across the nation were talking about home insurance. Homeowners and renters nationwide are getting more informed about what's covered within their policies and how it affects their homes. The local Jacksonville movers know there are many insurance companies out there with various types of coverage and eligibility requirements. For example, a fire insurance is different than a home insurance policy. The fire policies are typically less expensive but also offer a more limited coverage. The local Jacksonville moving specialists learned this type of coverage is generally more bought by landlords for their rental properties. There are various sections within home insurance, each with their own coverage. One section covers the roof, walls, plumbing and electrical systems. Another section covers other structures that are detached from the main one such as a detached garage or a shed. Homeowners can also insure their personal property for named perils like fire and lighting, theft, water escaping from plumbing, windstorm, rain and damage from vehicles or flying objects.

The All My Sons of Jacksonville suggest you review your insurance policy carefully so that you can make the best decision for you and your family as well as your property. Try to find that right balance between cost and coverage that's right for you.

Foreclosures Cost Neighbors $1.95 trillion

The All My Sons of Jacksonville know that home residential foreclosures affect not only the families that are evicted and the lenders, it also has an impact of neighborhoods. According to a new report from The Center for ResponsibleLending, Americans have lost almost 2 trillion in equity from nearby foreclosures. That's the equity that was lost by the neighbors from homes that were foreclosed on from 2007 and 2011, not the losses that the foreclosed homeowners themselves were subjected to or even the tax revenue the communities have lost. The local Jacksonville movers learned that Americans are estimated to have lost $7 trillion in equity during the foreclosure crisis. All My Sons of Jacksonville moving specialists found out more than half of the $1.95 trillion in lost equity came from minority homeowners with neighborhoods that suffered disproportionately from bad subprime loans.

Are you faced with a foreclosure? Do you have to move out of your home? Call the local Jacksonville movers for professional moving services at an affordable moving quote. The All My Sons of Jacksonville movers are backed by four generations of reliable movers with experience in commercial moves, long distance moves and auto moves. The local Jacksonville movers are part of the All My Sons Movingand Storage family with moving offices across the U.S. including All My Sons of Atlanta, All My Sons of Salt Lake City and All My Sons of Raleigh.

Home Prices Up for 5th Month

According to the S&P/Case-Shiller Price Indices reported that August prices were up in 19 out of the 20 cities since July ad up in 17 cities year-over-year. Home prices across the U.S these days are back to what they were back in the summer of 2003. The 20-city index is 2% above its level from 2011. The local Jacksonville movers learned that home prices did decrease in three cities since last year including Atlanta (by 6.1%), New York (by 2.3%) and Chicago (by 1.6%). Even though Atlanta had declines in home prices compared to last year, prices did go up from July to August. All My Sons of Jacksonville found out that even with this slow, steady recovery, three cities are still reporting home prices that are lower than 2000 levels. These cities include Atlanta, Las Vegas and Detroit. The real estate market in Phoenix did the best with increases of 18.8% in home prices. Detroit followed up with increases in 7.5%. Minneapolis was next and Miami followed up with home prices that increased by 6.7%.


Were you able to sell your home at a better price? Are you looking to move? For professional moving services, call the local Jacksonville moving specialists for an affordable moving quote and help finding quality moving boxes and moving kits for all types of home sizes.

Moving In Together

More and more unmarried couples are moving in together these days. The last statistics reported that over 7.5 million unmarried couples lived together in 2010. And due to the recession, some of these households only have one partner holding a job. If you're thinking of moving in together with your loved one, the local Jacksonville movers suggest you be strategic about your financials. By moving in together, you'll be saving on several expenses from your rent to utility bills to groceries and more. All My Sons of Jacksonville suggest you take that time to really make those savings work for the both of you. You both want to save separately, not only for the sake of the household but also so that you're prepared if you need to move out. Make sure to communicate at all times and understand that there will be compromises once you move in together. You'll have more flexibility with your income, allowing you to explore different activities or hobbies together, possibly even take a trip together. Use that time to get to know each other even more and check in with each other on how the both of you are adapting to moving in together.


If you need help with the actual residential move, call the local Jacksonville movers for professional moving services at an affordable moving quote.

Walking Away From a Mortgage?

After several years of struggles surrounding real estate, with foreclosures and short sales nationwide, many people these days consider it socially acceptable to strategically walk out on a mortgage. The local Jacksonville movers learned that 32% of people polled for ID Analytics, which represent 68 million people, say homeowners should be able to strategically default on their mortgages without facing any consequences. The All My Sons of Jacksonville learned that 13%, 28 million Americans, say hey would like to strategically default. And 17% know people who already have walked away from their mortgages. This mindset wasn't there when foreclosures and underwater mortgages first started popping up across America. But the real estate situation hasn't drastically changed for several years now and it seems like people have just gotten used to the environment.


It looks like the attitude towards credit scores have changed too, with 36% of people polled saying it's acceptable to have a poor credit score these days which represents 77 million people. And speaking about credit score, 35% of respondents felt they were more afraid these days about identity theft compared to five years ago which of course can damage a credit score.

What are your views regarding walking away on your mortgage?

Homeownership Rate in the U.S.

The local Jacksonville moving specialists learned that the national rate of homeownership is at 65.5%. This number represents the lowest rate since 1996 and becomes even lower when pending foreclosures are thrown in the mix. The homeownership rate was at about 68% during the real estate boom and started to deflate by 2008. When foreclosures and serious delinquencies are factored in, the rate is more lime 61.2% which in more like the rate the U.S. had in 1965. The All My Sons of Jacksonville learned the Midwest had the most homeowners with a rate of 69.9% compared with 67.4 in the South, 63.7% in the Northeast and 59.7% in the West. According to the Business Journals, in 98.5% of American counties there are more homeowners than renters. In 30 states, all the counties have more than 50% homeowners. The local Jacksonville moving specialists also learned that in 46 of the nations 3,141 counties that the majority of the residents rent their homes including New York, Kansas, Georgia and San Francisco.


In Florida, the All My Sons of Jacksonville discovered that Sumter County has one of the highest homeownership rate at 89.66% only topped by Keweenaw County in Michigan which is at 89.33%. The Bronx County in New York has the highest percentage of renters.

So what's your situation? Are you a renter or homeowner?

Mortgage Scams

With so many foreclosures nationwide, it's no surprise that people con artists are getting creative with mortgage scams. Nonprofit organizations and government agencies are now getting together to advertise some of these mortgage relief scams and teach homeowners how to avoid them. The local Jacksonville movers learned several Florida men were just arrested last year and charged with defrauding homeowners under the company name of Home Owners Protection Economics or H.O.P.E. This fraudulent company was trying to copy the public-private alliance of lenders, Hope Now, which is actually a group of nonprofit housing counselors and other mortgage industry participants. The H.O.P.E. scammers were telling desperate homeowners that they were approved for a loan modification and asked for upfront fees. These can be anywhere from $1000 to $5000, with an average of $3000.


The All My Sons of Jacksonville movers learned that many scammers use names that are very similar to the government programs and even add logos to their marketing material to give credibility to their fraudulent activity. If you're looking for mortgage relief help, you should try to contact the free Department of Housing and Urban Development approved housing counselors on Hud.gov. The local Jacksonville moving specialists remind you that any legal help will be free, you shouldn't pay any fees.

Fannie Mae Has New Guidelines

All My Sons of Jacksonville learned that Fannie Mae will be having tighter underwriting guidelines as of October 20th of this year. It will make it harder for people to refinance or even purchase a condo. These new guidelines are meant to reduce risk for Fannie Mae and encourage potential homeowners to shop around for their mortgages. One of the new guidelines suggests condominium unit buyers will have to fill out a 2-page condo when they're putting less than 20% down for their down payment. The old rule used to be documentation with 10% down. This questionnaire is in addition to other documents such as insurance policy and homeowner's association financials.


There will also be no more discretionary approvals except for Fannie Mae's Home Affordable Refinance Program. These used to help people with a less than perfect mix f loan to value or debt to income ratio, but with these new guidelines borrowers that are borderline so to speak are out of luck. The local Jacksonville movers learned that self-employed potential homeowners looking for a mortgage will have to provide two consecutive years of federal tax returns instead of just one. Borrowers also have to prove they're in the same business for at least two years. This means one bad year could derail the chance of getting a loan.

What do you think of the new guidelines? Would you be eligible if you were looking for condo mortgage?

Short Sales and Tax Bills

More people these days are going through short sales thanks to better procedures and less hold up, however many aren't aware that they might be facing a deadline. Unless things change and Congress extends the tax exemptions that were in place currently, underwater homeowner will owe taxes after their short sale goes through. The local Jacksonville movers learned that, presently, if someone owes debt on their primary home and it's forgiven through a short sale they won't have to pay federal income tax on it. But if that debt is forgiven after December 31, 2012, borrowers will owe income tax on that amount. The All My Sons of Jacksonville found out that the same rule in some states regarding homeowners going through foreclosures and principal reductions that are part of mortgage modifications. So for example, a $100,000 can add up to over $20,000.


In 2007, Congress passed the Mortgage Forgiveness Debt Relief Act, which temporarily exempted debt used to acquire and renovate a principal residence. The exemption doesn't apply to mortgage refinancing where cash is taken out and used for something other than buying, building or renovating a home. It doesn't apply to investment property. So if you're thinking of applying for a short sale, the local Jacksonville moving specialists suggest you try to beat the deadline.

Improving Real Estate Markets

According to the National Association of Home Builders//First American Improving Markets' analysis, the number of real estate markets that are improving went from 80 to 99 in September. The Jacksonville movers learned the study looked at improvements across home prices, building permits and unemployment. The All My Sons of Jacksonville movers were happy to learn that Jacksonville, Florida made it onto the September list among Tucson, Arizona, Des Moines, Iowa and Sacramento, California. 12 cities fell off the list and 69 maintained their past position. The markets is slowly improving, however there's an up and down pattern. That real estate market that are improving number was 101 back in April and 80 in June. The rising home prices the local Jacksonville moving specialists learned was more due to a shortage of homes for sale versus demand. The actual number of homes listed for sale decreased by one third since 2011, putting it at an eight year low.


If the real estate market is improving in your area and you're looking to move, call the Jacksonville moving company for professional moving services at a great moving quote. The Jacksonville movers are experiences in all types of moves from commercial moves to residential moves and long distance moves. The All My Sons of Jacksonville movers are part of the All My Sons Moving and Storage family of movers so you can expect quality service and a stress-free moving day.

Lessen the Moving Costs

Moving involves a lot of planning but it also involves a lot of costs, some directly related to the actual transferring of belongings and others are related like the cleaning crew you might bring to clean your house before you get settled, or the first supermarket trip that you'll make which will include many items you won't purchase again for a certain amount of time and so on. You might have to by paint and other supplies to spruce up your new place. The All My Sons of Jacksonville say you can reduce the cost of your residential move by making some changes in your plan. For example, before you start packing the moving boxes take an inventory of what you actually need to move. You might not want to move your old CD collection if all the music you hear is now on your handheld device.


When you're looking for moving boxes, the local Jacksonville movers suggest you save on boxes. Try to find recycled or used moving boxes. You can also suitcases or travel bags if you have any to pack some of your personal belongings. Hiring reliable movers who can offer you professional moving services really helps reduce the cost because you won't risk having your things damaged. You'll get an insurance and are sure that your new place won't get damaged during the process of the move.

Don't Turn Off Your Buyers

This real estate market is definitely a buyers' market so if you're looking to sell your home so you can move into a newer space, make sure you feature your home in the best light. You might think you have the situation under control, but cleaning up and getting rid of the clutter is not enough. The local Jacksonville moving specialists remind you that there are certain items that potential buyers don't want to see when their touring your house and envisioning it as their own.

For example, the All My Sons of Jacksonville movers say get rid of all the signs that you have pets. That means removing the litter boxes or the dirty chew toys laying around your home. You also want to make sure that your home doesn't have that dog smell. Not everyone loves pets and you want to make sure that your four-legged best friend doesn't ruin the sale for you.

If you have a baby, you certainly have your fair share of play areas around the house filled with kid stuff like extra diapers, toys and other items. Another way to turn off potential buyers is an unclean kitchen. The kitchen is the heart of any home, so make sure it's spotless. No dishes in the sink, no food laying around, and organize your storage because they might be inspected. Think about toiletries as well, no personal products, ointments or garbage in the trash cans.


With sellers offering great prices on their homes, it's definitely a competitive space out there. The local Jacksonville movers want you home to shine the brightest.

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.