Portfolio of bank-owned Jacksonville homes up for sale at auction

A collection of bank-owned Jacksonville properties, including commercial and residential lots and single family homes, will be up for sale through auction on September 26, according to the Jacksonville Business Journal. Young families looking to move to the state should consider checking out this auction for homes for sale in Jacksonville.

With the slight recent increase in the Jacksonville foreclosure rate, the number of bank-owned properties remained in surplus, prompting the auction. According to the news source, the foreclosure rate for the city in May increased by 0.47 percentage points on a year-over-year basis. The overall foreclosure rate of 9.04 was higher than the national average of 3.41 percent. Additionally, the city's foreclosure and delinquency rates were both lower than the state's figures. Jacksonville posted a 13.42 percent delinquency rate, compared to the 16.96 percent posted by the state as a whole.

The auction will feature 35 properties, with most of them being residential lots. There are no registration fees, but bidders must pay 10 percent of the purchase price on the day of the auction.