Jacksonville Neighborhood Blog

Off Market Sales…

The trend this summer in Real Estate… Off Market Sales, homes and condos that sold before they ever hit the market.  I sold 3 homes and 1 condo before they were ever made available to the general public.  What is driving this new trend?  Low housing inventory, more buyers are entering the market and fewer “sellable” homes are available.  When I have a buyer who is looking for a specific home and we can’t find it in the available inventory, I start calling homeowners with houses that fit my buyer’s wish list.  And when I get a new listing, I immediately start telling my fellow Realtors and my sphere of influence about it so if someone knows of a buyer maybe I can get it sold before it hits the open market. If you’re looking to buy or sell, give me a call, I’d love to talk to you about the latest trends in real estate. 

Farmer's Market

     Looking for an excuse to get outside this weekend so you can enjoy the delightful weather?  Check out the original Jacksonville Farmer's Market located close to the historic neighborhoods of Riverside and Avondale on the Westside at 1810 W. Beaver St.  The Farmer's Market celebrated its 75th birthday this year, making it the oldest Farmer's Market in Florida!  Stroll the aisles and make your selections from all the fresh produce on display, the vendors are usually happy to let you try a sample.  And make sure you get all the way to the back to check out some of the baked goods...  Even if you don't like to cook, the displays of fresh fruits and vegetables just may inspire you to eat healthier this Fall!

New In Atlantic Beach

So many exciting developments are breaking ground in our neighborhoods.  One of the most exciting is the new Atlantic Beach Country Club, located on the site of the old Selva Marina Country Club.  ABCC will feature a brand new clubhouse, Har-Tru tennis courts plus a new 18 hole, Eric Larsen designed championship golf course.  Home sites will be situated throughout the golf course, and will have views that vary from fairway to water.  Initial lot prices range from $150,00 for one of the 12 Cottage sites to $430,000.  All owners will receive a social membership with the purchase of their home site.  Social membership includes dining, pool and fitness privileges at the club.

If you would like more information about the new Atlantic Beach Country Club or would like to take a tour of the site, please call me at (904) 333-3883.

Fence Sitters, Its Time to Jump

     Since I am frequently asked about the Real Estate market and when is a good time to make a move, I took a close look at specific sales in Riverside/Avondale/Ortega and Southside/San Marco/Mandarin for the month of May.  Wow!  The difference is amazing from last year to this year:

$200,000 - $500,000 :

2012:       Riverside/Avondale/Ortega 15            Southside/San Marco/Mandarin - 32

2013:       Riverside/Avondale/Ortega 25            Southside/San Marco/Mandarin 72

$500,000 and up:

2012:      Riverside/Avondale/Ortega 1              Southside/San Marco/Mandarin - 5

2013:      Riverside/Avondale/Ortega 5             Southside/San Marco/Mandarin - 6

     If you, like many people, still think we are in a down cycle, this is clearly not the case.  Homes are selling more quickly and for a higher percentage of the asking price.  Often they are selling for the asking price.  What does this mean to you?  It means that now is the time to make a move!  Buying or selling, you need to get off the Fence.    

     If you are thinking of buying, put yourself in the best possible position have your finances in order, talk to your lender (or I can recommend one) and get a pre-approval letter.   If you will be paying cash, speak to your financial institution about getting a proof of funds letter.  This way, when you find the home you love, you are ready to make a meaningful offer.  If you are thinking about selling, the best place to start is with having a conversation with your Realtor and getting a market analysis of your home.  Be prepared to make some repairs and do some cleaning out, todays buyers are seeking that HGTV look in a home and those are the homes that are selling quickly and for top dollar.  As always, if you have any questions, please dont hesitate to call me any time.

*Real Estate Statistics provided by NEFAR

Which Comes First? The Purchase or The Sale?

    With the current Real Estate market turn around many homeowners are thinking about moving up, down-sizing, changing locations for schools or otherwise enhancing their share of the "American Dream".  Interest rates are still at historic lows making a new purchase attractive while home prices have stabilized and in some areas are starting to rise, putting sellers in an equity position.

    Ideally, as a buyer/seller you would like to purchase your new home, sell your existing home and have everything close on the same day.  While this does happen, and more frequently than you might imagine, you need to consider the other possible scenarios.

    Buy first or sell first here are some questions to ask yourself.  Can you afford to pay two mortgages if your current home doesn't sell by the time you move into your new home?  Are you willing to move twice if your current home sells quickly, before youve found your dream home?

    Shopping for your next home is always the fun part of this process, but if you find the one you can't live without, you need to have a plan.  Possibilities include extending the closing date to accommodate a reasonable amount of time to sell your existing home.  You can also make the purchase contingent upon the sale of your existing home, although in this very active market many homeowners are reluctant to accept this type of offer.

    Generally, it's less stressful to sell your home first because that relieves the burden of carrying two mortgages and maintaining two homes.  But what if your home sells before youve found your dream home?  Options include making provisions in the contract to rent your existing home for a specific amount of time while you look for a new home or you can find a short term rental.  Best case scenario, the day you get an offer on your home, you find your dream home.

    All of these situations are manageable and with a knowledgeable real estate professionals help the transition from your current home to your dream home can be smooth and stress free.

Selling? Why You Need an Agent

As the market picks back up, you may be thinking about finally listing your home. With this major decision comes another difficult choice: should you use a real estate agent? Agents are paid by commission and you might be tempted to list your home on your own with the intention of saving a little money. However, the advantages to using a trained professional outweigh the disadvantagesand they may actually get you more money for your home. It is, after all, their job.

If you want to list your home on your own, then be prepared for a myriad of additional work, including home staging, piles of paperwork, and negotiation headaches.  Homes that are represented by professional agents generally sell for a higher price than those for sale by owner; dont forget that even if youre listing solo, your buyer may be using an agent. This means that negotiating a price will be trickier if you dont have an agent to help you make the most knowledgeable decisions.

Also, without an agent, you have a ton of work cut out for you in terms of showing your home and making yourself available on short notice. Still not convinced? Here are several additional reasons why, the help of an agent is the best thing you can do for your home sale.

MLS: This is the biggest reason to go with an agent. The MLS is a home listing database. Anyone who is buying with the help of an agent will be looking on the MLS, and if you dont have an agent, you will not have access to it. Not only will you not be able to showcase your home there, but you cant shop for comparable homes to help set an appropriate price.

Pricing: I cant stress this enough. Even the most knowledgeable for sale by owner (FSBO) sellers cant harness the vast market knowledge of an agent. Comparable pricing is key in this industry, and if you list your home for the wrong price, you may be sabotaging your sale.

Stage off:  An agent knows exactly how to set up your home to make it appealing for buyers, because as an agent, they have seen hundreds of homes, sometimes even thousands.  

Your agent can help you make unemotional, unbiased decisions about what should stay and what should go in order to attract good attention and avoid negative, Unless you specialize in interior design, this will be a difficult task for you to do solo.

Marketing: Agents have network resources unavailable to FSBO sellers, including an abundance of contacts, marketing materials, online platforms and social media networks ready to blast your listing. Marketing your own listing takes up a ton of time, cautions Slater. Aside from all of the time you will spend putting your listing out there, you will also spend hours going back and forth with potential buyers, many of whom may not be serious about purchasing. Your agent will do this for you.

Details, detail, details. Closing fees. Contracts. Regulations. Sales guidelines. All of these details are extremely important when it comes to selling your home, and they can be both confusing and time consuming. If you forgo some important paperwork or misfile a form, you can delay or derail your sale. I am already an expertlet me take over and save you, time, stress, unnecessary expense.

 

Towering, moss-draped oaks arent just the stuff of southern gothic novels. They can be found throughout the neighborhoods of Jacksonville. Temperatures may rise but the shade of these giant beauties will help keep you cool, well, that and nice pool.

Check out this great 3/2 in beautiful Beauclerc, another outstanding neighborhood of Jax. It has an updated kitchen with loads of cabinets and solid surface counter tops. The hardwood floors continue through the home and the backyard is perfect for entertaining with a BBQ pit and peaceful in-ground pool. Dont miss the gardeners shed in the back with loads of storage. This home offers a small slice of paradise right in the heart of one of Jacksonvilles most picturesque neighborhoods.

If youd like to check this out for yourself, contact me at (904) 333-3883 or email me at jane.slater@prunet.com

 Neighborhoods of Jacksonville Blog

Welcome to Spring time in Florida!  Temperatures in the 70s, clear blue skies and days just meant for outdoor living.  The neighborhoods of Jacksonville are celebrating the change of seasons with arts festivals, sidewalk sales and cafes opening up the outdoor tables. 

Speaking of the neighborhoods of Jacksonville, real estate is starting to heat up in several Jax neighborhoods. Avondale, San Marco and San Jose are seeing a rise in sales.  First time home buyers are out in force taking advantage of the still historically low interest rates and great buys.  Plus move-up buyers are looking to take advantage of opportunities as well. 

Check out this great 4/3 Pool home in Montclair.  Located at 3639 Darnall Place, it has new plumbing, new A/C and new windows plus a newer roof and a super-sized kitchen.  The hardwood floors have been refinished and all 3 baths have been updated.  Its located in an established neighborhood close to everything.

For your own private tour contact me at (904) 333-3883 or jane.slater@prunet.com