Exclusive Savings With Prudential Network Realty

For the month of May only, Prudential Network Realty is bringing buyers an exclusive opportunity: our affiliated Wells Fargo lender is offering a 1% buy down for the first year of your fixed rate mortgage.

All new applications for 30-year fixed rate FHA or VA loans submitted between now and May 31, 2010, will receive this buy down for free. Here's an example of the savings available on a purchase of $200,000:

• At 5.125% the principle and interest payments during the first year would usually be $1074.00 a month.
• By taking advantage of this promotional buy down the first-year interest rate would be 4.125% with monthly payments of $956.00.
• SAVINGS: $118/month or $1416 for the first year on a $200,000 purchase.

Please contact me, Liz Bobeck, for information pertaining to this offer.

Foreclosures down in Jacksonville

Foreclosure figures for April have been released and they are down considerably. This is undoubtedly good news for Jacksonville's real estate market and our economy in general.

There were 13.9 % fewer Jacksonville properties in foreclosure in April than there were in March. And if you compare with the numbers from one year ago, foreclosure activity is down 35.4% over April of 2009.

The State of Florida as a whole ranks third in the nation in its foreclosure rate, with one in every 182 properties in foreclosure. Jacksonville fares better than the state average, with one of every 246 homes in some form of foreclosure. The national rate is one out of every 387.

Obviously we are not out of the woods. But things are definitely moving in the right direction!

Please contact me, Liz Bobeck, with any real estate questions or concerns.

Happy Cinco de Mayo!

If you are on my email mailing list you would have received a recipe for delicious Pancho Villa Layer Dip in your inbox today. I also send out occasional updates on the Jacksonville real estate market. Please contact me by email to begin receiving email updates.

—Liz Bobeck

Tax Credit Expires. Bargain Season Begins.

April 30 was a very busy day in real estate. Buyers looking to take advantage of the expiring federal tax rebate rushed our offices all over Jacksonville (and throughout America) to finalize and sign contracts. At Prudential Network Realty's Avondale office, where I work, ELEVEN contracts were turned in April 30. My office covers a wide territory including San Marco, Springfield, Downtown, Riverside, 5 Points, Avondale, Ortega, Venetia, and more — nevertheless eleven contracts is one high traffic day!

If you are a potential buyer you might be thinking you missed a great opportunity for getting up to $8,000 in tax rebates. While it is true that the tax credits for home buyers are no longer available, it is also true that there are still a great many properties available on the market. And the pool of buyers just shrank dramatically. That's why I am not joking when I say that "Bargain Season" is just beginning. Some sellers will be motivated to come down much more than $8,000.

Please contact me, Liz Bobeck, so that I can assist you in taking advantage of this great time to buy real estate anywhere in Jacksonville.