Grace Hughes' Real Estate Jacksonville Beach and Jacksonville, FL | Beach Homes, Beach Condominiums, Buying a House, Selling a House

Inside Real Estate
Distinctive Service!
(904) 233-1341
Follow My Blog
RSS
gracehughes
Grace Hughes
REALTOR®
    Years of Experience: 6

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

Direct: (904) 233-1341



Company Info

Keller Williams Realty Atlantic Partners
Jacksonville, FL


Real Estate Tools

Schoolsschools

Communitiescommunities

Calculatorscalculators

Luxury Homes

Jacksonville Beaches Living – Ocean Views – Spacious “Florida” Terrace Home With Awesome Views!

Tuesday, September 1st, 2009
NEW CONSTRUCTION, RED OAK FLOORS, GRANITE & MANY UPGRADES!

NEW CONSTRUCTION, RED OAK FLOORS, GRANITE & MANY UPGRADES!

BEAUTIFUL TOWNHOME!  -  3 bedroom  -  3 baths                              $ 590,000
2300+ SQ FT   Granite – Wood Floors - Open Flr Plan
Florida Terrace – Stucco – Garage
NORTH BEACH  in Jacksonville Beach, Florida 32250
mls #463698
New construction town home in the heart of the beaches with ocean and beach views.  Real gourmet island kitchen w/ custom cabinets, granite counters & lots of high end finishes through out. Red oak wood flooring & stairs.  Spacious ”Florida” terrace with great ocean views. This is not your typical town home, open floor plan w/ unique features & upgrades!

BUY THAT DREAM HOME NOW BEFORE THE BEST INTEREST RATES IN 30 YEARS SLIP AWAY!

Saturday, August 15th, 2009

The value of homes in the US fell in the second quarter this year by 12% compared to the same time last year.  However, the rate of decline shrank,   according to Zillow.com, with smaller market declines than the year before, and June sales volume being higher than May; and May is normally one of the highest volume months of the year.

An article from the Florida Association of Realtors also suggests buyers of foreclosures need to be quick.  The founder of a top foreclosure company, Foreclosures.com, Brad Geisen, says, “Some homes go under contract fewer than ninety minutes after they are put on the market.”

So you North Florida buyers, listen up, as some markets are showing signs of being at the bottom, and Northeast Florida just may be one of them.  As a real estate professional located in Jacksonville Florida and the Beaches area, I have found there are more offers from more buyers than just a few weeks back.

The Fed on Wednesday extended its support of the weak economy by keeping interests rates at or near 0% for the lending institutions, which means you have until October to take some action to purchase that home.  Until then, who knows?  Rates have already crept up.  It seems to happen overnight in this business, don’t miss out on the lowest interest rates we have seen in years!

My web site with all MLS properties for sale, and the foreclosures and short sales that are left, can be found on my web site at:  http://FindaPlaceWithStyleNgrace.com.   If you need additional information, or wish to comment, please do.

What Happens if a Homeowner Defaults on a Mortgage?

Wednesday, August 12th, 2009

If a Homeowner Defaults on a Mortgage, The Bank Will Foreclose or List the Home as a Short Sale!

How does one go about purchasing a Short Sale or Foreclosed property?  After a borrower falls behind, and the lender and the borrower are unable to reach a satisfactory solution, the lender will take steps to sell the property.  Following a notice of sale, a foreclosed property is listed for sale at auction.  Some lenders hold a public auction which can be held through a public sheriff’s sale or a private party sale.  The timing and process varies from state to state, and lender to lender.  If you want to buy this type of property, be aware they are sold “as is”, meaning without any warranties and without repairs.   Some lenders will also list the property For Sale with a real estate firm if it doesn’t sell at auction.

Some of the best bargains can be found at auction sales, however, you probably won’t have complete information and the properties can still be occupied, which means you may not get a look inside, much less bring your inspector.  Things can get awkward as you may have to evict the homeowner after purchase, which means you are facing a risk they will damage the property before leaving, if you purchase a property like this.  Additionally, it is difficult to determine if there are any old debts on the property.  You may be required to pay a lieu that a roofer placed on the property because he never got paid for the roof when it was installed.

When it comes to financing, public sales usually require cash payments, so you will need to have your financing in place well in advance of the auction, if you want to buy a foreclosed property.

For Information on Buying Short Sale Properties, go to my blog posting for July 30th, 2009.

My web site for Foreclosures and Short Sales or any Home Sales in Jacksonville, Florida is http://www.FindaPlaceWithStyleNgrace.com.   Please enter your questions in the right blog entry box.

Short Sales or Foreclosures or any Home? It is a great time to buy a home in Jacksonville, Florida!

Thursday, July 30th, 2009

With Interest Rates Low and a Good Selection of Homes, It’s A Great Time to Purchase a Home in Jacksonville Beach and the greater Jacksonville, Florida area!

The National Association of Realtors reports pending home sales show a sustained uptrend rising for four consecutive months with very favorable housing affordability and a First Time Home Buyer credit boosting activity.  The last time there were four consecutive monthly gains was in October of 2004.  The NAR chief economist said, “Rises in contract activity show buyers are becoming more active, even as they face much more stringent loan underwriting standards.”

Some buyers are purchasing Short Sale homes that are being sold for less than the amount owed on the property.  If your agent approaches the distressed homeowner of any Short Sale property with sensitivity to their situation this improves the odds an agreement can be reached and helps the lender because the lender can remove a non-productive asset or potential foreclosure from their books.  There is also a better chance one can negotiate to get repair cost covered after a Home Inspection when a home is in the Short Sale stage as opposed to Foreclosure stage.  It can take a few weeks to ninety days to get an acceptance or rejection from the lender however it can pay off in the long run.

Pre-Foreclosure or Short Sale? The most important point is the need for you to work with a Realtor that is experienced in handling these types of sales.  I will be happy to advise whether you have a question or a comment, plan to purchase, or need to list your home as a Short Sale.  You can reach me by email at gracehughesjax@gmail.com or call at 904-233-1341 with questions.

I will cover Auction, REO and Foreclosure properties with my next blog.

Click here for Short Sales and Foreclosures in Jacksonville Beach.

Go to my web site at http://FindaPlaceWithStyleNgrace.com.  Be sure to check the boxes for Short Sales and Foreclosures in any other areas of town.

Buyers BEWARE: Know the Competitive Market Price of the Area or Neighborhood Before You Purchase a Home!

Friday, July 10th, 2009

If you are considering the purchase of a home in a specific area or neighborhood, talk to people in the neighborhood, pick up fliers from the Real Estate Professionals’ Listed homes, as well as the For Sale by Owners’ homes. Talk not only to the area home owners but to service people, like home builders or remodeling specialists, insurance agents and mortgage brokers or others that may have some contacts in your specific area or neighborhood. Additionally your computer gives you a wide choice of web sites. However be wary, for some of the information you may glean from the Internet may be skewed due to age or various other reasons.

The value of a home depends on so many things, in addition, of course, to the latest sales in the area or neighborhood. Like, for instance, the square footage, the age of the home, the size of the lot, the location of the lot in the neighborhood, the lot amenities, the neighborhood amenities, the home amenities, the materials used, the quality of the work, etc. I may have missed a few items and I am not a professional appraiser, however, please realize, as a Realtor®, I work with the MLS (Multi-Listing Service) daily and know how to find up-to-the-minute sales data in your neighborhood, even the homes that have been sold For Sale By Owner, if they have closed.

The absolute best way to know you are paying a competitive price is to ask a Real Estate Professional to do a search for you requesting the latest sales in the neighborhood. Many people do not realize a Realtor® can request a specific sub-division or neighborhood by name, like Jacksonville Beach or Atlantic Beach, or Deerwood Estates or Kernan Chase. If there have been no sales in the neighborhood, then the real estate agent will search the greater area of the town or city you want. This type of search is done in the same database a Real Estate Appraiser uses to find the latest market data. This doesn’t mean Real Estate agents are Appraisers because there are so many factors that can impact a home’s value. It just means we are certified to access the data for you, explain how to analyze it and apply it , and have it available, if you decide to make an offer. The Multi-Listing database search is called a Certified Market Analysis or Competitive Market Analysis, a CMA in Realtor® lingo.

So please know if you are relocating to this area, have been planning to downsize to a condominium or smaller single family home, or, if you are a First Time Home Buyer, you will get the very latest home sales data from me before you make a offer. As a Real Estate Professional, I make this promise to you. I can be reached at gracehughesjax@gmail.com or give me a call on my business number at 904-249-6545, and ask to be connected to my cell phone.

To find homes listed for sale in the Jacksonville or Jacksonville Beach MLS area, or the Greater Jacksonville five county MLS area, including Atlantic Beach, Ponte Vedra Beach and Neptune Beach, log onto my web site at: www.FindaPlaceWithStyleNgrace.com or call me Direct at 904-233-1341.

The Rules Sometimes Change When Making REO & Other Real Estate Offers

Monday, June 1st, 2009

One of my business associates and his family asked me one day to check into an REO property they really wanted to purchase. This was their first time to ask for my help with real estate. I called the listing agent for the property they had found to see how the bank would be accepting offers on it. The agent couldn’t share much with me other than there was one offer on the table. I got a sense after speaking to the agent the offer might be below the asking price so I suggested my client might want to consider offering asking price. This idea was a very aggressive move to this client and they would only agree to offer within a few thousand of the asking price. I made their offer which was higher than the other offer on the table but another offer came in at asking price and got the home. My client got so frustrated with me because the bank didn’t make a counter-offer. So then I spent a few minutes explaining how the bank makes the rules when they have foreclosures and they won’t necessarily take the time to make a counter-offer if they feel other offers will be forthcoming. So I found another home for this client and suggested they offer a few thousand above asking price this time because I had learned there were several contracts already on the table. However they had just accepted the idea of offering asking price and wouldn’t go higher so we didn’t get this home either. A few thousand above the asking price got the home.

The next home that came up was a great value so I promised my client I would do my best to see if I could help them get it, hoping they would try a little harder, too. It was another REO property and had been on the market just two days. The Realtor told me two offers had come into the office, also two other showings were scheduled that day and another contract was on it’s way. I didn’t have a lot of hope my new found clients would do what it took to get this home either. However I suggested a number, explained the reasoning for that number and to my surprise they went with it. The bank then accepted it and we were able to stop any other offers coming in. It wasn’t that high above the asking price either, it was just high enough.

So the first two scenarios mentioned above are pretty common when it comes to the interplay between sellers, buyers, Realtors and banks in the real estate business. Additionally REO or Real Estate Owned/Bank Owned properties make the interplay even more challenging. However the third scenario mentioned above came together because my business associate and his family decided to concentrate on their issues. They wanted the home, it was a good price, they realised I was trying to help them get it, instead of thinking I was trying to make a higher commission, or that I wanted to sell them just any home or that the bank might make a couple of thousand more than they should. We became better business associates as a result of their trust that day and I am now working with some of their other family members. My greatest challenge in our busy world of real estate today is reaching out to those who will benefit from my experience and expertise. If I can help you or anyone you know or if you have any questions or comments, call me Direct at 904-233-1341.  my web site is www.FindaPlaceWithStyleNgrace.com.   My email address is gracehughesjax@gmail.com.

- Copyright © 2010 Inside Real Estate, LLC

Inside Real Estate does not endorse the agents on this site, and does not guarantee the content submitted by the site's members. Blog and page entries, content, and other information contributed by agents that are members of the site are accountable to the particular agent. Inside Real Estate and Omnia Alliance LLC take no accountability for the content contributed by members to the site.