With so many real estate terms floating around, it is easy to get confused when searching for a Jacksonville Fl home. A hot market means an extremely competitive market and is one that is advantageous to the seller. In this type of market, homes will often sell as soon as they are listed or even before they are listed. Normally, during a hot market, multiple offers will be made on each home and more often than not, homes will sell for more than their asking price. This means the buyer must be prepared and ready to hop. Avoid getting caught up in the bidding war for a home by getting pre-approved so you can stay focused on your housing needs and price range. Currently, a buyers market exists in the Jacksonville real estate market which means lower and more competitive offers can be made and extras like paying closing costs can be ask for.