Jacksonville Foreclosure Inventory on the Rise!

Jacksonville, Florida area foreclosure are on the rise!

After several very quiet years, real estate market share of pre-foreclosure, foreclosed, and short sale inventory is rising quickly. Covid-19 foreclosure moratoriums, followed by lots of Covid era mortgage rescue programs kept foreclosure to the lowest levels we have seen in decades, but what goes down, will eventually come up again. 

With most Covid era loan workouts programs finally ending, foreclosure starts are heading up again. Raging inflation and a weak economy are also contributing to seller mortgage defaults, and high interest rates have reduced the buyer pool down to historical record lows.

Jacksonville foreclosure inventory

All Jacksonville foreclosure related home sales have tripled over the last year, and will likely continue to accelerate. The good news is, there are still many ongoing mortgage workout options available. Also, if you just want to sell, but owe more than your home is worth, short sales are currently easier than ever!

sell in preforeclosure

Facing foreclosure and need help?

We've helped hundreds of home owners avoid foreclosure and settle their mortgage debts, and we can help you!

Minna has been a fantastic partner in selling our home. She was patient with us in explaining the differences between a short sale and conventional sale and helped us think through the pros and cons of each. During the process of the sale she was strategic and got us the best price for our sale. The process was painless and quick and every step of the way she managed each and every detail flawlessly.

D.L.

Last Updated on July 10, 2024 by Minna Reid

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