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Grace Hughes
REALTOR®
    Years of Experience: 6

    GRI: Graduate REALTOR® Institute
    e-Pro Certified
    Loss Mitigation Specialist

Direct: (904) 233-1341

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Keller Williams Realty Atlantic Partners
Jacksonville, FL

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Archive for February 2010

Seven Reasons To Buy or Purchase That Home Right Now In Jacksonville and the Beaches of Florida

Tuesday, February 23rd, 2010

I  Affordability is better than ever- Since the 1970s homes have never been more affordable as measured by the affordability index.  The affordability index is a measure of the relationship between mortgage interest rates, home prices and family income.

II. There is a much larger inventory now than there will be later this year.  The tax credit is helping to drive the market right now and more sellers are trying to get their homes on the market in order to take advantage of the credit before it expires April 30th, 2010.  Not all areas of the country still have good inventory like we do in North Florida, the Beaches and the Jacksonville and Jacksonville Beach, Atlantic Beach, Neptune Beach and Ponte Vedra Beach Florida area.

III. You could possibly be competing with more buyers next year. Right now sellers with homes that didn’t sell last year are putting their homes on the market again and are anxious to sell.   You could get a better deal this year than last year.

IV. New homes builders are giving discounts that are unbelievable! Be sure to have your pre-approval letter for your mortgage in hand when you talk to the builders and by all means negotiate for anything you want before you buy.  If you don’t get what you want, walk away and give them a chance to call you back.  I recently found one builder that will pay the Home Owners Association dues for five years!

V. Mortgage rates are historically low! These are the best rates we’ve seen in thirty years.  For example, FHA and VA rates for a 30-year fixed rate loan on February 19, 2010 were at 4.875% per one mortgage company’s web site!

VI. The feds raised their interest rate on emergency funds for each other last week.  Although there was no increase in the interest rate charged to the public, one strategist said, “the market is taking this as a tightening.”  Additionally this was the Fed’s first rate move on anything since December 2008!

VII.  The First Time Home Buyer Tax Credit and Move UP Buyer Tax Credit will expire on April 30, 2010. To get this credit one must have a contract signed and set-up to close before June 30, 2010.  So give me a call right away at 904-233-1341 if you have been planning to buy a home or send me a quick email to get moving with your home purchase.

All residential and single family homes on the MLS can be accessed at my web site www.FindaPlaceWithStyleNgrace. com.  Go to the Property Search Page.

Let me know how I can help you get moving with your home purchase.  My email: gracehughesjax@gmail.com

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Posted in Buying a Home | No Comments »

Underwater With Your Mortgage – SELL Your HOME As A Short Sale in Jacksonville, Florida

Friday, February 19th, 2010

Short Sales have consumed the time and money of numerous real estate professionals in the past few years, consequently some of us may have at times discouraged their client from making offers on homes that were being sold or offered as Short Sales.  This is due to the fact one never really knew when, or even if, they would get a timely answer for their clients.   It could also be that the selling and or listing agent had so much paperwork to administer they couldn’t get around to returning their calls quickly, or the lender didn’t have enough employees working at the time to handle the Short Sales or Foreclosures on their books.

There are many reasons why the Short Sale process had become cumbersome and all these reasons cannot be addressed in this short blog post.  However, the US Treasury has recently implemented some new guidelines to help the agents sell the homes more quickly and more efficiently.  These new guidelines should also help reduce the paperwork and shorten the time frame to get the home sold.  The central bank says the economy remains sluggish so the real estate industry expects the demand for real estate professional assistance with Short Sales to remain strong for now.

Again, what is a Short Sale? A Short Sale is a transaction that can occur if the lender accepts an offer for the home that is less than the amount of money owed on the home.   In the past, the lenders could take up to eight to ten weeks to get back to the sellers with a response to any offers.  Now the mortgage service company has ten days to get back to the listing or selling agent with an answer.   Additionally the lender could potentially release the borrowers completely from the debt.  There are other new guidelines, however, these are the most important to you if you are wanting to sell your home.  Most sellers want to sell their home in the shortest period of time, for the most amount of money, with the least amount of hassle.  So if this is you?

If you need the assistance of a real estate professional because you may be in a situation where you can’t keep up the payments on your home and need the assistance of a professional to set up a Short Sale, or you just need to sell your home, and are not sure if you can get the money you owe on it.  Be sure to work with someone that is up-to-date with these new guidelines.  I can help if you live anywhere in the Duval, St John’s or Clay County areas of Jacksonville or Jacksonville Beach Florida.

My email is: gracehughesjax@gmail.com or my direct line is 904-233-1341.  To search the local MLS in Jacksonville, Florida and the Beaches area, go to www.FindaPlaceWithStyleNgrace.com  and click on the property search page.

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Posted in Short Sales | 3 Comments »

Attention Home Sellers – Home Buyers Are Beginning To Buy Smaller Homes Again!

Thursday, February 11th, 2010

With baby boomers entering retirement, young adults delaying marriage, and the US economy in a state of flux, home buyers are beginning to purchase smaller homes again.  Home sellers, this means you may have a greater chance of selling your home than you  thought. Although home buyers still want luxury, they are beginning to put their stuff into smaller spaces.

According to the Census Bureau the square footage of new homes purchased in 2008 dropped to 2215 sq feet, down from 2277 sq feet.  This is the first drop in square footage of new homes purchased since the recession of the early eighties.

However, to sell your home you still need to make it look larger than it’s actual size.  Some ways to do this are:  fresh paint using neutral coloring, blending colors in medium to light shades; having carpet and walls done in similar color tones.  Also applying one continuous type of flooring throughout the home will make a home seem more spacious.

Additionally, move out all furniture except the bare essentials.  Even if  your china hutch is a family heirloom, it will serve you best in storage.  Daddy may also have to give up his big, over-stuffed recliner for a few months in order to clear a path for potential buyers to walk from the living room and dining area to the kitchen area, when they view your home.

One of my dear friends asked me what they would need to do to sell their home.  Theirs was one of the older homes in Jacksonville, Florida that had been maintained beautifully, and like some other older homes, had smaller, narrow rooms.  We discussed several ideas and they took my suggestions to heart.  He gave up his recliner, for one thing, and we had a sale within a short time.   I am proud to say, at closing, he was quick to point out, “They sold their home by using some of their realtor’s suggestions, and that stuff works!”

Creating the feeling of space is the key, and there are numerous ways to do this.  Stashing things away, for instance, lowering the ceiling in the hallway or raising the ceiling adjacent to it.  The good thing is you don’t have to be as concerned about those smaller rooms because buyers are beginning to love the smaller spaces.  However, as an article in Realtor.org magazine for February suggests,  ”You have to create the illusion of space.”

If you have a particularly challenging situation with a home, or just need to sell your home and need the advise of an experienced professional, I will be glad to discuss your home by phone.  My email is: gracehughesjax@gmail.com.  You can find all homes on the MLS and in the Greater Jacksonville area on my site, including those in Jacksonville, Jacksonville Beach, Ponte Vedra, Mandarin, and other cities of Duval, St Johns and Clay Counties: www. FindaPlaceWithStyleNgrace.com. Go to the Property Search Page.

My direct line is 904-233-1341.

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Posted in Home Sellers | No Comments »

How Can I Find Out What Homes Are Selling For In A Given Neighborhood?

Friday, February 5th, 2010

Home sales are a matter of public record. You can get all the information you want about recent sales, including prices and time on the market, by asking your Realtor.  This is valuable information when buying or selling a home.

If you’re interested in a particular home, we will be able to provide you with a list of comparable sale prices of homes in your area that are roughly the same size and age as the home you’re considering. If there are no homes FOR SALE in your neighborhood, the Realtor can give you advise regarding the way to determine the price.  .  .

Although there will certainly be some differences between the homes…the house next door may have an extra bedroom, or the one down the block may be older than the one you’re looking at…it’s a good way to evaluate the sellers asking price.

If you are considering buying or selling a home, call me Direct at 904-233-1341 and I’ll see how I can help, or send a quick email to: gracehughesjax@gmail.com. You can go to my web site where you can find any home listed in our five county Multi-Listing Service, including Jacksonville, Jacksonville Beach, Atlantic Beach, Neptune Beach, Ponte Vedra Beach, Amelia Island, and Fernandina Beach at www.FindaPlaceWithStyleNgrace.com.  Go to the Property Search Page.

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Posted in Buy a House | No Comments »

You Could Loose Thousands If You Don’t Know What to Inspect When BUYING A HOME

Wednesday, February 3rd, 2010

WHAT DOES A HOME INSPECTOR DO? For your own safety, and to make sure you’re not going to have any surprise repair expenses when you buy a home, using a professional home inspector is highly recommended.

A home inspector will check a home’s plumbing, heating, cooling, and electrical systems, plus look for structural problems, check the basement and roof for water leakage, and look at the exterior and interior finishes throughout the property.

So before you sign any written offer to buy a home, make sure that it includes an inspection clause or other language that says that your offer is conditional upon having a satisfactory home inspection.  A seller may be willing to renegotiate a price to accommodate needed repairs, or you may decide that the home will take too much work and money.  A professional inspection will help you make a clear-headed decision before you buy a home.

Plus, you can get answers to many questions and tips for maintenance and a lot of general information that will help you after you buy the home.   Most important, you’ll see the home through the eyes of an objective third party before you buy.

Items on your inspection report should include…

- FOUNDATIONS, BASEMENTS, AND STRUCTURES
Basement floor and walls, proper drainage and ventilation, evidence of water seepage.

- EXTERIOR SIDING, WINDOWS, DOORS
Exterior walls, windows, and doors; porches, decks, and balconies; garage.

- ROOF
Roof type and material, condition of gutters and downspouts.

- INTERIOR PLUMBING SYSTEM
Hot and cold water systems; the waste system and sewage disposal; water pressure and flow; and hot water equipment.

- ELECTRICAL SYSTEM
Type of service, the number of circuits, type of protection, outlet grounding, and the load balance.

- CENTRAL HEATING & COOLING SYSTEM
Energy sources, heating equipment, age, capacity, and distribution.

- INTERIOR WALLS, CEILINGS, FLOORS, WINDOWS, AND DOORS
Wall, floors, ceilings, stairways, cabinets, and countertops

- STRUCTURAL, INSULATION, AND VENTILATION INFORMATION

- FIREPLACE
Notes about the chimney, damper, and masonry and cleaning.

- GARAGE
Doors, walls, floor, opener.

- APPLIANCES
Including a wide range of built-in and other home appliances, smoke detectors and television/cable hookups.

- LOT AND LANDSCAPING
Ground slope away from foundation, condition of walks, steps, driveway.

Are there any other inspections I need to have done before buying a home? In addition to the overall inspection, depending upon the neighborhood where you’re buying, you may wish to have a separate test conducted to check for termites and radon gas.

If you need the assistance of someone that has experience working with Inspectors and home owners, feel free to email me at gracehughesjax@gmail.com for assistance, or my direct line is 904-233-1341.  Or if there is other critical information you need to know, feel free to give me a call for a free consultation.

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.

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Posted in Buying a Home | 1 Comment »

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