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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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First Time Home Buyer

What Should One Look For The First Time Thru A Home? The First Time You View A Home In Jacksonville Florida or Home Shopping Anywhere?

Wednesday, March 2nd, 2011

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.

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Posted in Buy a House, Buying a Home, First Time Home Buyer, Homes | 5 Comments »

First Time Home Buyers’ Tax Credit For Military Personnel, Foreign Service. Intelligence Officers Extended

Tuesday, October 20th, 2009

The House of Representatives voted unanimously to extend the deadline for the First Time Home Buyers’ tax credit for one group of Americans so far.   HR 3590 will allow eligible military personnel and foreign service and intelligence officers to apply for the $8,000 tax credit for one year beyond its current November 30 deadline. Those meeting the underlying requirements for the credit must also be serving overseas or have spent at least 90 days deployed outside of the country during the current calendar year.  It is expected that about 350,000 military personnel and an unknown number of federal employees may be affected by the new law.

The bill was introduced by Representative Charles Rangel (D-NY) because it was thought that families serving overseas were being passed over for this one-time opportunity to  purchase a home.  It passed the House with 416 votes and 16 abstentions.

So if you are military personnel, foreign service or an intelligence officer on your way to Jacksonville Beach or Jacksonville, Florida area, the Atlantic, Neptune or Ponte Vedra Beach areas, after having been deployed,  and are planning to purchase your first home (or you haven’t purchased within the last three years) between now and November 30, 2010;  give me a call,  or send a quick email.  I’ll be honoured to work with you, and I can give you information about how to claim up to 10% of the cost of your home, up to $8,000,  as a First Time Home Buyer tax credit.

My web site where you can find homes in the area is www.FindaPlaceWithStyleNgrace.com.  Go to the Property Search Page.  It will take you to a map of Jacksonville where you can choose the area you prefer.  To send me an email: gracehughesjax@gmail.com.

My blog is: http://inside-real-estate.com/jacksonville-beach-fl.  I cover most areas of Jacksonville and the beaches and will make recommendations about all six counties.  Call with questions Direct at 904-233-1341.

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Posted in First Time Home Buyer | 2 Comments »

There is No Bell at the Bottom! However Jacksonville & Jacksonville Beach, Florida Home Sales Could Be There!

Monday, September 7th, 2009

I have used this phrase to emphasize a point. The point being how often someone tells me about the one home they didn’t purchase when they had a chance; the home they wished they had purchased due to it’s current “much higher” value!  Unfortunately we will not hear a bell and the government can not say, or know,  when we reach the bottom of the real estate market in Jacksonville, Florida, Jacksonville Beach, or anywhere else.  However,  if you have been considering purchasing that single-family home, condominium, second home, or, you are a first time home buyer, and you are interested in this data for this very reason, please find it below.  This area and the State of Florida data is compelling, and so makes me think the bell should possibly be shined up a bit…so here you are:

State of Florida Home Sales 7/09  Compared to 7/08  + 28% Jacksonville Florida Home Sales +16% Same Period

Other areas and cities:     Daytona Beach+20%   Ft Lauderdale+35%   Ft Myers+137%   Ft Pierce+27%   Ft Walton Beach+15%   Lakewood+14%   Melbourne+14%   Miami+54%   Ocala+63%   Orlando+38%   Panama City+15%   Tampa+21%

Average Interest Rate Ending period Sept 3, 2009:  30 yr Fixed - 5.08% Freddie Mae

Low mortgage rates are helping to keep housing affordable, according to government housing VP and chief economist, Frank Mothaft.   Seven of the top eight most affordable months for purchasing a home have occurred during the last twelve months, with the Most Affordable months being tracked since 1971!  As a result, pending sales of existing homes rose for the sixth straight month in July of this year, and July sales were the strongest since June 2007.   Call me with any questions about property, homes or financing.

All Single-Family Homes and Condominiums Available in the MLS, as well as Short Sales and Foreclosures are available on my web site at: http://FindaPlaceWithStyleNgrace.com.  My email is: gracehughesjax@gmail.com.  My Direct contact number is 904-233-1341 with questions.

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Posted in Bottom of Real Estate Market, Buy Condominium, Buy a House, Condos, First Time, First Time Home Buyer, Homes, Housing Affordable, Low mortgage rates, Pending Home sales in Jacksonville Florida, Property Investment, Real Estate, Real Estate Agent, State of Florida Home Sales | No Comments »

Before You Purchase That Dream Home In Jacksonville Florida There Are A Few Things You Should Know

Wednesday, September 2nd, 2009

Actually there are many things you need to know about a home before you make a purchase, and here are “just a few” of the questions you need to have answered before moving forward with that purchase of a home:

  • What is the neighborhood (and your neighbors) like?  Are there certain area features that would affect the value of this property after you buy or in the future?
  • What are the realty taxes on the home and what are the costs of utilities?
  • What home repairs have been made in the past three years?
  • How far do I have to travel for schools, public transit, and shopping?
  • What major repair expenses do I have to look forward to after the purchase or within two years after purchase?
  • Are there any utility easements or encroachments over the property?
  • Is there a fairly recent survey that shows all the buildings and additions on the property?
  • Has the property had a Home Inspection done when the present owners bought that you could check to see what minor and major problems there were?  Have your Realtor ask for a list of these problems, if there were any.
  • Has the homeowner signed a Property Disclosure statement?

My goal is to have you fully informed before you make a costly home buying decision! If there are any of the above questions that you don’t have a clear answer to for any home in Jacksonville you are considering purchasing – call me, and I will see what I can do to find the answers for you.  All of my services come with a satisfaction guarantee – and are completely free of charge to you.  If you would like a “Complete” list of questions to ask, please respond by email to gracehughesjax@gmail.com or call direct to 904-233-1341 and leave a message, or send a message with a blog entry.  My web site: http://FindaPlaceWithStyleNgrace.com.  (more…)

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Posted in Buy Condominium, Buy a House, First Time Home Buyer, Homes, Homes for Sale, Real Estate, Real Estate Agent | 5 Comments »

Short Sale, Auction and Foreclosure Properties in Jacksonville, Florida

Sunday, August 30th, 2009

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Posted in First Time Home Buyer | 2 Comments »

1st Time Home Buyer Deadline Free Money-Must Close by Nov 30,2009

Thursday, August 20th, 2009

THE DOWNPAYMENT ASSISTANCE OR TAX CREDIT FOR “FIRST TIME HOME BUYERS” DEADLINE IS FAST APPROACHING!

Thinking about buying your first home!  Act today and the Federal Government will give you free money in the form of a tax credit or down payment!  As part of its plan to stimulate the U.S housing market and address the economic challenges of our nation, Congress passed legislation that grants a tax credit to “First Time Home Buyers” up to $8,000, if you purchase that home… soon!  So if you are looking in the Beaches area of Jacksonville, Atlantic Beach, Neptune Beach, Ponte Vedra Beach or Jacksonville Beach, it’s time to purchase that home.  Let me tell you how!

You have until Nov 30, THAT’S NOVERBER 30TH, 2009 to arrange financing, look at homes, make an offer, purchase the home, and close the transaction.  To qualify as a “first time home buyer”, the buyer or his or her spouse may not have owned a home during the three years prior to purchasing the home.  This “first time home buyer” credit applies to single-family homes, condos, townhomes and co-ops.

The maximum allowable credit is $8,000 and is determined by two factors:

One: The buyer’s income – Single buyers with income up to $75,000, and married couples with an income up to $150,000.

Two: The purchase price – The credit is equal to 10% of the purchase price of the home up to $8,000.

The credit is reduced if your income exceeds these limits; however, there is a credit.  Check with your accountant to learn the exact amount.  The buyer does not need to repay the credit, if she/or he occupies the home for three years or more.  However, if the property is sold during the three year period, the credit will be recouped on the sale.

Call or email me to get started toward making that home buying purchase! You can also go to my web site to search for homes in the Greater Jacksonville MLS area, including Jacksonville, Jacksonville Beach, Atlantic Beach, Ponte Vedra Beach and Neptune Beach.

My email is: gracehughesjax@gmail.com.  All MLS Listings and homes for sale: http://FindaPlaceWithStyleNgrace.com Call me at 904-233-1341

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Posted in First Time Home Buyer | No Comments »

Some Recent Details of FHA’s $8,000 “First Time Home Buyer” Assistance Program

Wednesday, June 3rd, 2009

The Department of Housing and Urban Development (HUD) released more details recently about its program to help first-time home buyers use an $8,000 tax credit as part of a down payment on a home. HUD announced the program on May 12th according to the National Association of Realtors® Housing Summit.

In the interim, HUD posted an announcement and then immediately took it down leading to speculation that the program would be pulled. In response, HUD said the rules had simply not been finalized and the original announcement had been posted in error. “We’ve been eager for word from the federal government since the new FHA down payment assistance plan was announced, and even more so after the program details were first published and then quickly pulled,” says John Sebree, Florida Association of Realtors® vice president of public policy. “Luckily, that turns out to be a minor setback and there will be a federal down payment program to complement the $30 million we were successful in securing in the Florida budget.”

The most significant change involves the amount of down payment required by qualified first-time home buyers. FHA mortgages require a 3.5 percent down payment, and the $8,000 tax credit cannot be used to override that requirement. Once the 3.5 percent down payment requirement has been met, however, the tax credit can be applied to additional costs, including a higher down payment, paying points to lower the mortgage rate, and/or closing costs.

Lenders will treat the tax credit money as a second lien on the home until it’s paid back. However mortgage industry leaders have indicated that this type of product may not be immediately available to consumers since lenders will oversee the tax credit loan and they must create internal programs to handle the process.

Lenders have some flexibility on payback requirements for the upfront loan of the tax credit although HUD also created rules to protect home buyers from onerous terms.

According to the National Association of Realtors®, “First Time Home Buyers” represent 40 percent of the home buyers in the market today. If you have been considering a “first time home purchase” you could qualify for down payment assistance or an $8,000 tax credit through some of these programs.  If you have questions, call me at 904-233-1341 or send a quick email to gracehughesjax@gmail.com.  If you would like to speak to me personally, please call 904-233-1341.  To search for property on my www.FindaPlaceWithStyleNgrace.com.

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Posted in Appraisal, Buy Condominium, Buy a House, First Time Home Buyer, Foreclosures, Homes, Homes for Sale, Housing Market, Questions and Answers, Real Estate, Real Estate Agent | No Comments »

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