The Winners In This Year’s Real Estate MarketMSN online had an interesting article about the winners and losers of real estate this year, so All My Sons of Jacksonville wanted to share the information with all of you. Property investors were said to be winners because of all the bank-owned properties, home prices were low and investors could cash in, buying in popular places like Miami, Florida, Boise, Idaho and Dallas, Texas. Property investors also made up the cash buyers, buying for even better deals.
The local Jacksonville movers also learnt that apartment landlords were also taking advantage of this year’s real estate situation. Because many people lost their homes to foreclosures and were struggling to remain homeowners, more and more people were opting to rent. MSN reported that occupancy in America reached %94.8, rents have increased by 7% and they’re expected to grow by about 5% more by next year. In San Francisco and San Jose, California rent went up by about 13% in 2011.
First time home buyers were another group that’s considered winning at the real estate game. The discounts they received on homes were huge. The average price for a home this year was at $162,500 which the Jacksonville moving specialists found out is actually $8,000 cheaper than in 2010. Some real estate experts are even saying that in most part of the state mortgage payments are cheaper than monthly rent payments. First time home buyers can negotiate more this year because of the competitive market. Some sellers were also forced to lower prices, make upgrades and even contribute to closing costs.
Homeowners who were lucky enough to be able to refinance also did well this year. For those who had enough equity, they took advantage of the low interest rates … as low as 3.94% this December. MSN reports that refinancing accounted for about 79% of all the mortgage applications in 2011. Because of the climbing number of short sales, the professionals who negotiate with banks on behalf of homeowners also benefited from the 2011 market.
The local Jacksonville movers hopes you were one of the real estate winners this year. It has been a tough economy for many people, and All My Sons of Jacksonville is trying to do its part to help. Our professional moving services are a great value, including quilt pad wrapping and helping with assembling furniture, at an affordable price. So the next time you’re in need of a reputable moving company, reach out to the local Jacksonville moving team.