Posts Tagged ‘Housing Market’
Sunday, February 13th, 2011
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.
Tags: Buying a House in Jacksonville Beach FL, Buying a Single-Family Home in Jacksonville Florida, find a place with style and grace, Housing Market, Improvement in Housing Market, Jacksonville Florida Real Estate, Property Jacksonville Florida, Recovery in Jax Housing Market, Signs Of Improvement in Housing Jacksonville Florida, smaller homes for investment jacksonville florida, Smaller Singe Family Homes, Wise Investments
Posted in Bottom of Real Estate Market, Buy a House, Homes, Property Investment | 8 Comments »
Saturday, February 5th, 2011
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.
Tags: 203 k loan, Buying a House in Jacksonville Beach FL, Buying a Single-Family Home in Jacksonville Florida, department of housing and urban development, fha financing, finance purchase and remodel, finding a home to remodel in the mls, Home Buyers in Jacksonville Beach, Housing Market, HUD, Jacksonville Beach Buyers, Jacksonville Beach Homes for Sale, looking for a fixer upper, remodel homes in atlantic beach florida, remodeling a home in jacksonville florida, remodeling a home in Ponte Vedra Beach
Posted in Buying a Home, Home Improvement, Homes | 5 Comments »
Saturday, January 29th, 2011
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.
Tags: Buying a Condo in Jacksonville Florida, Buying a Single-Family Home in Jacksonville Florida, condomarkets, floridasecondhomesmarket, floridavacationmarket, great affordability, Housing Market, Improved Affordability Index, Jacksonville Beach Foreclosed Homes, Jacksonville Florida Real Estate, Jacksonville Real Estate, Reductionincostofhomes
Posted in Buying a Home, Foreclosures, Homes, Short Sales | 1 Comment »
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.
Tags: Buy a Home in Jacksonville Beach, Buying a House in Jacksonville Beach FL, Buying a Single-Family Home in Jacksonville Florida, First Time Home Buyer Tax Credit, Housing Market, Jacksonville Beach Buyers, Jacksonville Beach Home Buyers, Jacksonville Florida Real Estate
Posted in Home Sellers | No Comments »
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.
Tags: Bottom of Real Estate Market, Buy a Home in Jacksonville Beach, Buying a Single-Family Home in Jacksonville Florida, Home Buyers in Jacksonville Beach, Housing Market, Jacksonville Beach Buy a House, Jacksonville Beach Buyers, Jacksonville Beach Condo, Jacksonville Beach First Time Home Buyers, Jacksonville Beach Mortgage Rates, Jacksonville Beach Real Estate Market, Jacksonville Florida Real Estate, Jacksonville Real Estate, Low mortgage rates, Pending Home Sales, pending sales of existing homes, Real Estate, Real Estate Agent, State of Florida Home Sales
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 »
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…)
Tags: Add new tag, Buy a Home, Buy a Home in Jacksonville Beach, Buying a Single-Family Home in Jacksonville Florida, Housing Market, Jacksonville Beach Buy a House, Jacksonville Beach Buyers, Jacksonville Beach Condo, Jacksonville Beach Home Buyers, Jacksonville Beach Home Buying Process, Jacksonville Beach Short Sales, Jacksonville Florida Real Estate, Jacksonville Real Estate, purchase dream home, Purchase Dream Home in Jacksonville Beach Florida, Purchase Dream Home in Jacksonville Florida, Purchase that dream home, Purchase That Dream Home in Jacksonvillel Florida, Real Estate Agent
Posted in Buy Condominium, Buy a House, First Time Home Buyer, Homes, Homes for Sale, Real Estate, Real Estate Agent | 5 Comments »
Tuesday, September 1st, 2009
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!
Tags: Add new tag, Buy a Home, Buy a Home in Jacksonville Beach, Buying a Single-Family Home in Jacksonville Florida, Home Buyers in Jacksonville Beach, Homeowners, Housing Market, Jacksonville Beach Buy a House, Jacksonville Beach Buyers, Jacksonville Beach Condo, Jacksonville Beach Home Appraisals, Jacksonville Beach Home Buyers, Jacksonville Beach Home Buying Process, Jacksonville Beach Homes, Jacksonville Beach Homes for Sale, Jacksonville Beach Real Estate, Jacksonville Beach Real Estate Market, Jacksonville Florida Real Estate, Ocean Views, Oceanfront Condominium, Real Estate Agent, Second home, Second home buyer, Sell a House, Upside Down Real Estate
Posted in Homes, Homes for Sale, Luxury Homes, MLS, MLS Service | No Comments »
Tuesday, August 25th, 2009
- OCEAN FRONT CONDOMINIUM IN JACKSONVILLE BEACH FLORIDA AT A GREAT PRICE FOR “ANY” OCEANFRONT HOME OR CONDO!- GREAT BUY FOR SECOND HOME BUYER, TOO -
- 3 BEDROOM – 2 BATH CONDO HOME - End Unit $524,500
- OCEANFRONT VIEWS From Every Room - 1700 Square Feet -
- Beautifully appointed - with Granite, Marble & Wood - mls#474862
- The Waterford Condominiums at Jacksonville Beach, Florida
- Call Grace Hughes, Realtor, GRI, e-Pro, LMC with EXIT Real Estate Gallery - 904-233-1341 or email at gracehughesjax@gmail.com. See all MLS Listings at: http;//www.FindaPlaceWithStyleNgrace.com
Tags: Buy a Home, Buy a Home in Jacksonville Beach, First Time Home Buyer Tax Credit, Home Buyers in Jacksonville Beach, Housing Market, Jacksonville Beach Buy a House, Jacksonville Beach Buyers, Jacksonville Beach Condo, Jacksonville Beach Home Appraisals, Jacksonville Beach Home Buying Process, Jacksonville Beach Homes, Jacksonville Beach Real Estate Market, Jacksonville Florida Real Estate, Jacksonville Real Estate, Oceanfront Condominium, Real Estate Agent, Second home, Second home buyer
Posted in Condos, MLS, TOWN HOME | No Comments »
Thursday, August 6th, 2009
First quarter data from 2009 reflects that 20% (Zillow.com) of all homeowners in the United States are in this situation. Being underwater is a term used meaning, if you were to sell your home in today’s real estate market, you would need to bring money to the closing table, unless your lender agrees to take less than is owed. Some areas of the states including California, Las Vegas, Nevada and two areas of Florida indicate even higher numbers than 20%. The local Jacksonville, Florida market sales data reflects about forty to fifty percent of all sales are either homes in the Short Sale process (pre-foreclosure) or they are bank owned, the foreclosure has already taken place. Then it is called an REO property.
So what should you do if you are nearing this situation? You have lost your job, have to transfer to get a better job, getting a divorce, or in any situation that will impact your income negatively?
First, call your lender immediately and explain exactly what is happening with your financial situation. Banks will sometimes go for a loan modification, however, they are less likely to do this if you have already missed payments. Additionally many loss mitigation specialists or loan work-out specialists are over- loaded with files due to the market as it is. So it will take some persistence and negotiating on your part, and possibly on the part of an experienced real estate agent to get their attention and reach an agreement. However, do persist even if there is a slight chance they will work out some kind of settlement. It is better than having a foreclosure on your credit report.
Currently I have several listings in the Short Sale process, so if you are needing someone to talk with about the Short Sale process, feel free to give me a call. The price in your area or neighborhood will reflect whether the sale price will be lower than the dollar amount you owe on your property. I can do the research and let you know the area market price. I can also help you make contact with the lender to see how they will respond to a Short Sale process being put in place.
You can reach me by clicking on the blog entry box to the right to send a message or send an email to gracehughesjax@gmail.com. Call me at 904-233-1341 with questions.
My web site is: http://FindaPlaceWithStyleNgrace.com.
Tags: Homeowners, Housing Market, Jacksonville Beach Buy a House, Jacksonville Beach Buyers, Jacksonville Beach Condo, Jacksonville Beach Foreclosed Homes, Jacksonville Beach Foreclosures, Jacksonville Beach Home Appraisals, Jacksonville Beach Home Buying Process, Jacksonville Beach Real Estate Market, Jacksonville Beach Short Sales, Jacksonville Real Estate, Real Estate Agent, sale at auction, Sell a House, Upside Down Real Estate
Posted in Appraisal, Foreclosure Property, Foreclosures, Homes, Housing Market, Questions and Answers, Real Estate, Short Sales | 6 Comments »
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.
Tags: Add new tag, Buy a Home, Buy a Home in Jacksonville Beach, Buying a Single-Family Home in Jacksonville Florida, First Time Home Buyer Tax Credit, Home Buyers in Jacksonville Beach, Housing Market, Jacksonville Beach Buy a House, Jacksonville Beach Buyers, Jacksonville Beach Condo, Jacksonville Beach Home Appraisals, Jacksonville Beach Home Buyers, Jacksonville Beach Home Buying Process, Jacksonville Beach Homes, Jacksonville Beach Homes for Sale, Jacksonville Beach Real Estate, Jacksonville Beach Real Estate Market, Jacksonville Florida Real Estate, Jacksonville Real Estate, Real Estate Agent, Sell a House, selling home
Posted in Appraisal, Bidding REO Properties, Buy Condominium, Buy a House, Condos, Estates, Foreclosure Property, Foreclosures, Homes, Homes for Sale, Housing Market, Luxury Homes, Property Investment, Questions and Answers, Real Estate, Real Estate Agent, Relocation, Second home buyer, Short Sales | 3 Comments »
Avg. Sales Price: $180,000
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