In Jacksonville market some buyers offering over 100% of asking!!

Very encouraging news about NE Florida.  Lenders have tightened standards for borrowers including with regard the properties they will consider.  This is pushing buyers away from "as is" properties and to the upper price range of homes for sale.

Jax homes gaining value and selling quicker
WOKV

JACKSONVILLE, Fla. — 

WOKV’s real estate expert tells us that Jacksonville’s home prices are on the rise, and homes are selling quicker.

Paul Gruenther, a realtor with The Moves Brothers at Watson Realty Corp. in Jacksonville Beach, says inventories are becoming depleted, and there are a lot of active buyers who are qualified and want to buy a home.

To put it simply, he says, demand is outweighing supply.

“So you’re tending to see people are pushing,” Gruenther says.

These days when he puts in an offer for a home, he says he’s competing with anywhere from two to ten other buyers.

When the market was down, he says people tended to offer anywhere from 85 to 90 percent of the asking price.

Now, he says they’re offering anywhere from 95 to over 100 percent of the asking price.

“It’s difficult to find a home for under two-hundred thousand dollars in any of the communities here.”

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