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If you are considering a move or have just been told by the Marine Corps that you have orders to another location, here are some things you need to know about selling your home in Jacksonville, NC:
If you have lived around Jacksonville, NC for at least the past five years, you have probably heard talk in last few about how “bad the market has become”. Yes, it is true that our real estate market has shifted here from a “seller’s market” (when there are more buyers than active inventory or there is only about 5 months or less of active inventory) to a “buyer’s market”. Jacksonville, NC, home to the Marine Corps Base Camp Lejeune, was not in the distressed situation that the majority of the United States found itself in a few years ago. While states like California & Florida, to name a few, were experiencing a high increase in the amount of REOs (real estate owned, aka Foreclosures), the homeowners of Jacksonville, NC were still seeing appreciation in home values.
As out-of-town builders began to focus their sights on the thriving real estate market here, sellers felt the pinch of the new shift as new construction homes sold for a lower price per square foot than ever before. The result was too predictable: in order to compete with new construction, sellers found themselves needing to reduce asking prices to lower than they could afford. Many tried to complete VA Compromise Sales (a short sale on a VA loan), however not many were successful. The unfortunate outcome was that Jacksonville, NC saw a dramatic increase in the number of REOs or foreclosures.
As you can see from the illustration above, the only areas of the market in Jacksonville, NC that have increased greatly are foreclosure sales. As someone who watches the market constantly, I expect to see these numbers continue to rise over the next few years.
If you or someone you know is considering a move or has received military orders and would like the facts about what it could take to get your home sold, register at www.CampLejeuneHouseHunt.com/Sell or call 910-934-1465.
Heidi Turner, REALTOR/Broker
Bella Casa Realty Group at Keller Williams Realty