Are You Planning To Become A “For Sale By Owner’ Home Seller in Jacksonville, Florida? This is the time of year when some home owners are planning to become Home Sellers in Jacksonville, Florida.  They have begun to prepare their home For Sale or have already placed their homes on the market for a Spring purchase.  With that in mind I thought I’d post a list of some of the mistakes that can be made by Home Sellers when selling their home:

Incorrectly Pricing Their Home – If the home is not priced at competitive market prices the home may not be viewed by potential buyers.  Home buyers looking in the area will be looking at a different price range when they come to the neighborhood.  This makes the home invisible to the potential home buyers looking in the area.  They simply will not see it since they are looking in another price range.  Overpricing increases the time on the market and increases the sellers costs over time.  Ultimately many overpriced properties sell below market prices because people think there are issues if they sit on the market a long time waiting for that one buyer that has the money to pay their price.

Not Fixing Up the Home and Showcasing It - A home must be spotless to get showings in the market today.  I sometimes send my potential home sellers around to look at other homes for sale in the area and to other competing neighborhoods so they will see for themselves.  So spruce up the house inside and out.  Touch up the paint and landscaping and keep it that way.

Mistaking Lookers For Buyers - Anyone that sells their home themselves always gets more activity than houses listed by agents.  Real estate professionals will only bring qualified buyers and these will be fewer than when someone holds an open house and whoever walks through the door is qualified to see your home.

About 95% of people that come to Open Houses are not bona fide buyers.  Most of these (about 70%) will have a home to sell first, 15 to 20 percent will live in the neighborhood and 10 percent are looking for decorating ideas.  So about 5% based on National Association of Realtors  statistics are truly potential buyers.  That means if 50 people see your home then less than 3 or 2.5 are genuine buyers.  A real estate professional will not spend their time showing a property unless they have qualified the client prior to walking them through your home.  A For Sale By Owner may end up with a parade of Sunday afternoon shoppers.

If you would like a complete list of Mistakes You Can Make When Selling A Home, please text or call at 904-233-1341 or send an email to: gracehughesjax@gmail.com.  Thank you for reading my blog.

Maybe you have been considering a home purchase in the area; a place to go in Florida for the summer or winter.  Or you are a first time home buyer? Right now affordability is the key with many home buyers with Jacksonville Florida being one of the major cities where owning a home is more cost effective than renting a home.  This is due to all the repossessed homes hitting the market and a drop in the prices over the past few years in the Jacksonville Florida market making homes so affordable.

In fact home prices were down in the area for the 6th month in a row with all the foreclosures and short sales hitting the market.  However homes sales were up in January for the third month in a row as home buyers have begun to discover the values are here especially in the condo and single-family home markets.  Additionally there are rumblings from the market regarding an expected increase in the demand for multi-family housing which adds to the speculations for the area.

So What “DO” You Look For the First Time Through A Home? You might consider the following:  Is there enough room for you now and the near future?  A home can be an excellent investment but it should fit the way you live.  It should have the space and features that fit the entire family.  Pay close attention to the floor plan.  How many bedrooms? Bathrooms?  Smaller homes are in demand as space is at a premium.  However is there enough storage space for you?  How about the appliances?  Will you have to replace them?  The roof is not a major issue when purchasing a condo as they are maintained by the Home Owners Association.  However you must consider the costs of the home owners association in your budget and the quality of the maintenance in the complex.   You may at first glance think the condo fees are too high until you consider the added costs you would pay in a single family home that will be covered by the association dues that you don’t have to pay outside of these dues.

Maintenance is a major cost to consider in a home purchase.  How much maintenance will you have to do right away?  The next three years?  Will your present furniture work in the home? Pay particular attention to any areas that could be a problem like additions, defects or areas that have been repaired.

These are just a few basic suggestions for the first time through.  There are many considerations and feel free to review any and all articles I have posted over the last year regarding these additional considerations before purchasing a home or condo.  It all depends upon your situation, your family and your particular requirements.   Feel free to go to my web site at www.FindAPlaceWithStyleNGrace.com or click on Visit My Website to the left of this blog article to search for homes in the MLS area.  My direct contact number is 904-233-1341 or you can text me at this number.  Feel free to send your home search requests to: gracehughesjax@gmail.com and I’ll set-up a search for you.  Thank you for reading my blog.  I am always complimented when I receive comments from you.

All signs point toward an improvement in existing homes sales in 2011 in Jacksonville, Florida and the Beaches area.  Although we saw a dramatic drop in new homes sales in 2010, sales are expected to improve by 17.7% according to figures from the National Association of Realtors (NAR).  This could be impacted by an improvement in the jobs market or a lack of it.  However productivity was up in January in spite of the bad weather which kept a lot of workers home.  Private sector payrolls and corporate earnings were up and existing home purchases rose in January with the current supply of new homes being stated as a 6.9 months supply.  This number has been as high as 12 to 18 months in some areas.

So signs point in the general direction of a recovery for the housing market in Jacksonville, the Beaches and North Florida.  Ninety percent of most homes purchased today are being financed through FHA loans and Ben Bernanke said last week when he spoke to the National Press Club the Fed won’t be changing their policy support anytime soon.

If you have been considering a home purchase, condominiums and smaller single-family homes (less than 2,000 sq ft) are getting a lot of attention and could be the latest and wisest investment in Jacksonville.   To search for homes in Jacksonville, Florida and the Beaches MLS home market, go to www.FindAPlaceWithStyleNGrace.com and go to the Property Search Page.  You can save your searches and return another time.  Feel free to text or contact me Direct at 904-233-1341.

The Department of Housing and Urban Development (HUD) has a loan to help you purchase a home AND pay for the remodeling.  This is a great financing program for all Americans.  A program that more people should consider.  It was originally set-up to revitalize run-down neighborhoods.  There are certain credit score guidelines that must be met in order to qualify for this type of loan however the HUD regulations are not quite as stringent as Conventional or other standard FHA loans.

This loan is called a 203-k loan and requires a minimum of $5,000 in home repair and should be completed within six months.  Some remodeling projects for consideration with this loan are: the repair of structural damage to a home, making an addition to the structure, the installation of additional bathrooms or the remodeling of the attic, kitchen or basement.  Additionally the loan can be used to replace the air conditioning or all the flooring or the roof; one could also move a wall, do major landscaping or site improvements and, of course, make improvements and improve accessibility for the disabled.

In addition to the typical home improvement loan projects, the FHA 203-k can be used to convert a one family dwelling to a two, three or four family dwelling or the reverse of this.   As with any projects, there are certain restrictions, like no new construction, and the contractor has to be an approved contractor.  One should consult a qualified mortgage professional or I can introduce you to a mortgage professional that handles these types of loans.

One additional item the borrower needs is enough cash reserve to pay for materials and labor until they are reimbursed through a draw, or an adequate credit card balance.  The contractor may also choose to cover these upfront costs.   If you would like to know more about it, please go to the Department of Housing and Urban development web site or call a qualified mortgage broker.  I will be glad to introduce you to one from my office at Keller Williams Realty, the third largest real estate company in the world.

To search the Greater Jacksonville Florida MLS for any home that might need remodeling or any home for sale, go to my web site at:  http://www.FindaPlaceWithStyleNgrace.com. Questions, call me at 904-233-1341 or email: gracehughesjax@gmail.com.   Thank you for reading my blog and please enter any comments below.

Home sales have improved in Jacksonville, Florida and the state across a number of consumer segments.  In Miami the lower prices have helped to fuel the market for working class families.  Additionally baby boomers have had less to spend due to the drop in the values of their investments so we are seeing retirees return to Florida due to the reduction in the cost of homes and the improved affordability index.   We are also seeing more South Americans, Canadians and Europeans come to Jacksonville Florida and other parts of the state to purchase homes.

Foreclosures and Short Sales have fueled the market in Jacksonville, Florida and other cities in the state.  They remain a big part of the state’s housing market today and will most likely stay that way for a while.   So if you or someone you know have been planning to purchase a single family home or condominium in the Florida area, now is the time to make that purchase before the opportunity slips away.  Condo inventories have dwindled to where there aren’t enough to go around and within a few short months will be even lower.

This has been the scenario every year since 2007.  The demand from year to year has increased because Jacksonville is not only a vacation market it is a beautiful, green, thriving, interesting city that has a lot to offer all segments of the population.  However there aren’t as many developers around this year with new projects coming out of the ground to supply the increased demand due to the depressed economy.

Find A Place With Style and Grace! My web site where you can find any home in the Northeast Florida MLS which is a five county area of homes including Jacksonville Florida and all the beach cities; Jax Beach, Ponte Vedra Beach, Atlantic Beach and Neptune Beach.   www.FindAPlaceWithStyleNgrace.com.  Email: gracehughesjax@gmail.com

Any questions you can text or call me 904-233-1341.

According To CNN MONEY on line, Jacksonville Florida is One of Top Twelve Cities To Buy Property

The Median home price is: $83,200

The buy-rent equation in this northern Florida city is heavily influenced by mortgage defaults, according to Trulia spokeswoman Tara-Nicholle Nelson.  Jacksonville has consistently been among the 30 hardest hit cities for foreclosures over the past two years, as compiled by RealtyTrac.

The flood of repossessed homes hitting the market has caused prices to fall by about 34% over the past four years, according to data from the National Association of Home Builders.

All those dispossessed households have also added to demand for rental properties, pushing the ratio of home prices to yearly rents down into single digits. That makes Jacksonville one of the best places to buy in the United States.

To find homes in The Greater Jacksonville Florida area including the Beaches and Downtown as well as all the condominiums in the five county area Multi-Listing Service, go to www.FindaPlaceWithStyleNgrace.com.   To make an appointment to see any of these homes, call or text me at 904-233-1341. Or my email address is as follows:   gracehughesjax@gmail.com.                      Questions?  Call 904-233-1341

Affordability in single-family homes and condos returned to Jacksonville Florida and the Beaches of Florida in 2010. A good indicator of this fact is more than 50% of all homes sold in the Jacksonville, Florida area in 2010 were purchased by First Time Home Buyers.  This was higher than the national average of 40%.  Last year first time home buyers could once again afford to purchase nice single-family homes in neighborhoods that were previously out of their reach financially.  This means it is a great time for “anyone” to purchase in the Jacksonville, Florida area markets!  This means it’s time to buy that second home or beach-front property you have been wanting to purchase!

According to Florida Realtor statistics five years ago affordability was one of the greatest challenges facing the Florida housing market.  Home prices were rising annually at a rate of 15 to 25 percent.  The state of Florida’s median sales price had reached $248,300 for single-family homes and $211,300 for condos.  However since the peak of 2006 sale prices have fallen more than 40%.  Now that sales have increased this year and prices have begun to stabilize in many areas listing inventories are shrinking as more buyers have taken advantage of the markets by purchasing homes in Jacksonville and surrounding communities.

Find A Place With Style and Grace! Call or contact Grace Hughes, Realtor, GRI,e-Pro, LMC at 904-233-1341

To Search Homes in North East Florida Realtors Multi-Listing market, go to www.FindaPlaceWithStyleNgrace.com.

You can send a text to Grace at 904-233-1341

Just some of the things a buyer should know before purchasing a home here in Jacksonville, Jacksonville Beach or anywhere in Florida:

1.  Property taxes and qualified interest are deductible on an individual’s federal income tax return.

2. A home is often the largest asset an individual has and is considered one of the most valuable investments available.

3.  A portion of each amortized mortgage payment goes to principal of the home which is an investment.

4.  A home is one of the few investments that you can enjoy by living in it.

5.  A real estate professional can show you any home whether it is listed with a company, a builder, or even a home that is being listed by a For Sale By Owner.

6.  Working with a real estate professional to purchase a For Sale By Owner home can be very advantageous because someone is looking out for your best interest.

7.  A homeowner can exclude up to $500,000 of capital gain tax if married and filing jointly or up to $250,000 if single or filing separately.  The home must have been the taxpayer’s principal residence for the previous two years.

8.  There is no longer a requirement to purchase another home more expensive than the one sold.  Homeowners are free to buy up or down with no tax consequences assuming their gain is less the allowable amounts.

9.  Ask the real estate professional who is representing you what he or she will do to keep you informed.

10. Last, but not least, your real estate professional should provide you with the highest level of service and advice.

Giving good advice and good information is the key to making any investment, and providing the very best information available is the hallmark of my professional services.   It is my pledge to each and everyone of my clients whether they are purchasing a home on the beach or a small home in a condominium community.  I also work with investors or anyone relocating to the area.

If you have any questions about purchasing a home, give me a call.  Let me find the answers for you.  By telephone 904-233-1341 or email: gracehughesjax@gmail.com.

My web site where you can find any home listed in the Northeast Florida MLS is located at the following link: www.FindaPlaceWithStyleNgrace.com.  Go to the Property Search Page.

When you buy your next home in Florida consider requesting a Florida Home Energy Rating.  Use this rating to figure how much the home will cost you like you would the miles-per-gallon sticker ratings on a new automobile.  The Florida Building Energy-Efficiency Rating Act was passed by the State Legislature in 1993 and amended in 1994.  This act established a voluntary statewide energy-efficiency rating system for homes.

If you’re thinking about buying or selling a home in Jacksonville the energy rating offers you a market-place yardstick that measures the benefits of energy-efficiency improvements.  You are probably planning to get a Home Inspection if you purchase a home.  Smart home buyers in Jacksonville are now asking for a home energy rating.  In addition to an overall estimate of energy use you get detailed breakdowns of the energy costs of the air conditioning, space heating, water heating, refrigerator, clothes dryer, cooking costs, lighting, pool pumping and other miscellaneous equipment.

Qualified Energy Gauge raters use a specially designed software program to input data about your home and obtain accurate information regarding what energy-efficiency features can be added to your home to maximize cost-savings and add more comfort.  The raters give your home an index that is based on the energy costs of your home compared with national guidelines.

As a real estate professional I am required  to give you information about getting an EnergyGauge Rating when you sign a home purchase contract with me.  I will be glad to give you additional information about this program.  Call me Direct at 904-233-1341 or information about this program is available at www.floridaenergycenter.org.  My email is: gracehughesjax@gmail.com.

My web site where you can find any home listed in the Northeast Florida MLS is located at the following link: www.FindaPlaceWithStyleNgrace.com.   Go to the Property Search Link on the Left Menu and c lick on Search for Property in Your Area.

Although housing starts were down slightly (0.6%) in February they are up for the year by 39.8%. The slight decline in February was due to a reduction in multi-family housing starts.  This information is according to the Mortgage Brokers Association.  This reduction in multi-family housing starts can be a good thing if we see some absorption of the many condominium units on the market in our beautiful city by the sea of Jacksonville and Jacksonville Beach, Florida.

The federal government’s activity of purchasing mortgage-backed securities which has kept mortgage rates at historic lows for over a year is scheduled to stop March 31, 2010.  The MBA says this may begin to put pressure on mortgage rates to gradually go up over the next year and keep rates rising into 2011 and 2012.

So before those rates go back up, exercise your right to claim a First Time Home Buyer Tax Credit of $8,500, or if you have lived in your current home for five years or more sign a contract to purchase another home by April 30, 2010 and claim a $6,500 Tax Credit through the Federal Government.    The contract if signed should close by June 30, 2010.    Any questions call me at 904-233-1341 or go on-line to my web site to find a home in the Jacksonville, Florida and Beaches area: www.FindaPlaceWithStyleNgrace.com. Go to the Property Search page.

Email me at: gracehughesjax@gmail.com.