Increased Home Prices in Florida

The local Jacksonville moving specialists found out home prices are increasing in areas where plenty of homeowners are underwater on their mortgages because fewer homes are available for sale. This is probably contributing to the latest cities to join the “turnaround cities list” including towns in Florida and Phoenix. Homeowners who might want to sell aren’t doing so because they don’t want to have to pay the bank when they sell. However, this negative equity leads to more foreclosures, impedes refinances and restricts owners from listing their home. The All My Sons of Jacksonville team learned that cities with more than 50% of its borrowers owing more than their homes are worth, the market only had enough homes for sale to last 4.7 months at current sales rates. However, in markets with fewer than 10% of borrowers that were underwater, there was an inventory of 8.3 months. Nationwide, that number is at about 6.5% which is the lowest for the past five years. In the past 60 days, price tags for low-priced homes have increased by 4.5% compared to prices of more expensive homes that have risen only 0.6%. So what are the home prices like in your neighborhood?

Qualifying For a Mortgage

Being a professional moving company, you start hearing a lot about real estate. These industries kind of go hand in hand. And with the most recent real estate shift, it seems like everyone’s an expert. But then, not really, so the local Jacksonville movers are here to tell you how to qualify for a mortgage. Because besides finding the perfect home, you also need to be able to afford it and purchase it. Banks scrutinize what is called in the industry the big C’s. That’s credit history, capacity and collateral. The All My Sons of Jacksonville team remind you that lenders will dig deep into your debt repayment history and examine your credit score. Capacity is all about income, savings and investments while collateral stand for how much you’re putting as a down payment and the value of your property.


To get a loan, you’ll have to show proof of employment of two years, so that the banks can predict how likely it is that you will keep that same employment and income. So, before you get a mortgage, you might have to strengthen some of these areas, possibly repaying debts or having a larger down payment.