Channel 4 News segment on Springfield real estate tonight...

[ChriswUfGator]

Gist was pretty much that property values have gotten so low that it's attracting a horde of people from out of town to move into the neighborhood. Reporter said they're mostly permanent residents, not flippers. She also implied it's the one area of JAX that not only hasn't seen a decline in sales, but where sales have actually been increasing.

Not entirely sure I buy those statistics, unless they are counting foreclosures as part of the total number of sales. But nevertheless it was a nice puff piece for the old 'hood. The video they shot looked like Savannah or something, they really made it look nice.

[fsu813]

most of the sales in the area have been short sales, actually.

[ChriswUfGator]

Here's a print version of the segment they ran:

http://www.news4jax.com/news/21230388/detail.html

[fsu813]

anyway to view the actual video segment?

[fsujax]

Has anyone read the comments on the story? I can't believe some of things people are saying...do they provide bullet proof windows, etc.....people are so ignorant. I have lived in Springfield for over 4 years and have never really had any major problems. Springfield is a great place to live. Yes, we have some issues, but not as bad as some of those posters are making it out to be.

[lindab]

Best to avoid reading any of the news media's comments sections. For some reason those particular comments sections showcase intolerant put-downs. Springfield is a wonderful neighborhood full of people who care enough to make lasting changes to this great area.

[lindab]

most of the sales in the area have been short sales, actually.

Please explain what this is and what is the source of this information.

[strider]

Yep, some of the posts on the other site were very true…circa late 80’s.  Having been in or around Springfield daily since 1998, I can tell you most of those days are long gone. 

The trouble I have with articles like this is that while some consider it a good thing, it actually isn’t.  It wasn’t  just the flippers and investors who lost big , it was often just regular home owners who suddenly found themselves over their heads or out of luck and out of work.  Those of us who have hung on either had lots of equity or are just braving it along.  It isn’t any fun.  Talking about how great the recession has been to Springfield on any level is actually pretty ridiculous.

I believe fewer investors are buying because as an investor, you pretty much have to have cash up front.  Few do.  Much of the reason the prices are so low are forclosures and that brings all of the comps down. Short sales aren't any good either as it means the bank simply agreed to take less than owed rather than go through the foreclosure process.  The positive about low prices is a great mix of new residents, often younger, first time home buyers, can now afford to buy here.   

This article hits on one truth of Springfield, but leaves out others.  Springfield can be a great place to live.  It can be very affordable in today’s market.  The real estate issues are far from over, but Historic areas normally fair better than normal subdivisions and in today’s world, urban areas are desirable.  There are still lots of issues in Springfield and if you can’t handle the diversity of social economic groups within the borders of Springfield, are not willing to accept the variety of people who call Springfield their home, then perhaps Springfield isn’t for you. 

In other words, Springfield may be more affordable, may be urban hip, but it is still a place for those who have at least some “urban pioneer” in them.

[fsu813]

linab,

short sale is when someone sells the property for less than they owe on it, thus taking a loss. unless you've owned your home for 5+ years, this is probably going to be the case.

the large article on Springfield real estate in the Business Section of the paper earlier in the week mentioned that most of the sales in the neighborhood have been of this nature.

[heights unknown]

Even though the stats may include foreclosures, I'll bet Springfield is probably the only neighborhood on the Northbank/Northside that is prospering in the real estate arena.  Good news.

Heights Unknown

[fsu813]

i'd venture to say one of the few in the entire city

[lindab]

Thanks, fsu813.