Why is Inventory Rising in the Jacksonville Real Estate Market?
Even though new inventory has dropped over the past month, the active listings on the market are
rising. This may lead some to believe that we are lacking buyers in the market. Not true. We are
lacking buyers who are ready to buy now. Potential buyers are being offered interest rates as high as
7%. That’s hardly an incentive to buy now, particularly when rates were ranging from 3-4%, just earlier
this year. As a result, buyers are on the fence, contemplating how long they should try to wait out these
interest rates.
Hold tight, sellers. Many of you are negotiating with yourself. You may have dropped the price of your
home to be more competitive in a market that is becoming more saturated. Remember, buyers are
concerned about the price of interest rates right now—that is the barrier, not the price of the homes
available. Unless you suspect that you may have listed your home over market value, there is no need
to drop the price of your home just yet. If you’re able to, play the long game on this one. It may not be as long
as you think. Reach out to us for help ensuring that your home is priced competitively.
Buyers: date the rate; marry the home. You can always refinance later. Buyers on the market now are
tending more and more toward ARM (adjustable-rate mortgages). These mortgages start out with lower
interest rates that will increase over time. This allows time for interest rates to decrease and buyers to
refinance their loans when they do. See our “Insider Scoop” below for more options on how to lower
your mortgage payments.
Buyers, we know you’re out there, reach out to us with any of your home buying needs.
An Insider Scoop
from our Mortgage Partners – Movement Mortgage 
2/1 Buy Down Program: Buyers can lower their mortgage payments (principal and interest only) for the
first 2 years on a new home purchase. The cost of the payment reduction is paid at closing by either the buyer, seller, or
builder. The fees are held in escrow and will cover a portion of the monthly payments for the two-year
buy down term. This program lowers your rate by 2% for the first year and 1% for the second year.
Ideally, interest rates will be lower in two years’ time and then you will have the option to refinance,
while still benefiting from this protection during the first two years of your loan.
Movement HELOC (home equity line of credit): This program was released 2 weeks ago by Movement
Mortgage and offers a completely online application with no appraisal required. Get approved within 5
minutes and get your money within 7 days—even if your home is already listed. The money can be
spent however needed and is not limited to your home. Repayment terms are flexible and will be fixed
payments, as opposed to interest only, for the first 10 years.
Insight from the Experts:
Don’t need the money? You can apply and be approved for the loan without taking out
the money. Keep it there as a safety net. If you don’t draw from it, you aren’t paying
for it.
Or, invest! Use the loan to purchase an investment property. Our Fluid Realty Team has
personal experience with this.
For more information on either of these loan options, reach out to our trusted partner: Jamie Holmes, loan officer
([email protected] ). Jamie can also be utilized for a second opinion when shopping for a
home loan and will work to beat any competitor’s offer.
