Looking for something fun and FREE to do with the family? Try one of these many movie nights around Jacksonville, Nocatee, or the Beaches. Don’t forget your blanket or chairs! Insect repellent is a good idea this time of year too.
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Flood Insurance covers a physical loss caused by “flood.” The National Flood Insurance Program says:
A flood is a general and temporary condition where two or more acres of normally dry land or two or more properties are inundated by water or mudflow. Many conditions can result in a flood: hurricanes, broken levees, outdated or clogged drainage systems and rapid accumulation of rainfall.
Just because you haven’t experienced a flood in the past, doesn’t mean you won’t in the future. Flood risk isn’t just based on history, it’s also based on a number of factors: rainfall, river-flow and tidal-surge data, topography, flood-control measures, and changes due to building and development.
The Riverside Avondale Preservation (RAP) is hosting its 36th Annual Tour of Homes on April 24 & 25th, 2010. Eleven businesses and residences will be open for guests to tour. This event is a fundraiser for RAP which is a private, non-profit membership organization with the desire to enhance and preserve architecture, history, cultural heritage and economic viability of historic Riverside and Avondale areas.
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Thinking of buying a home that needs repairs? Maybe you’ve spotted a “diamond in the rough” property that could be a dream home with the right repairs and remodeling. Wells Fargo Home Mortgage offers FHA 203k renovation loans that allow the borrower to finance the purchase price and the cost of improvements into the loan amount. As with all of these 203k products, they are only allowed in conjunction owner-occupied properties, either with a purchase or refinance transaction. We use the “after improved” value of the property, and it is a “single close” fully amortized loan. In my last entry, I spoke about the FHA Remodel Express program exclusive to Wells Fargo Home Mortgage-----that product is fantastic for cosmetic repairs and remodeling up to a cost of $35,000. The work allowed includes repairs and replacements to roofs, existing HVAC systems, existing flooring, minor remodeling, new windows and appliances, etc… It has the normal 203k loan merits of one application, one approval process, one closing, and one payment, yet it is limited to “renovations” only that are non-structural in nature. It also restricts the borrower to using one national improvement company/contractor---The Home Depot, Lowe’s, or Sears.
While the FHA Remodel Express product is amazing, some borrowers need improvements that are “structural” in nature, which is where our Standard 203k product shines. With this product, improvements can include foundation repairs, roof replacement, new plumbing and electrical systems, and full room additions, to name a few. Here multiple licensed contractors are allowed, and there is no limit on the cost of the repairs (bearing in the mind the maximum total FHA loan amount for your area, which is currently $387,500 in northeast Florida). Also, the borrower is actually allowed to do the contractor work upon approval. In addition, Wells Fargo offers a Streamline 203k version, which caps the repairs at $35,000 and only allows non-structural repairs, but offers the benefit of allowing multiple contractors.
The 203k products are great ways to purchase bargain priced homes and/or larger homes in need of repair. The borrower gets to renovate them to reflect their tastes and needs, all while having one payment amortized over the life of the loan.
Donald Ster, MBA, is a senior-level mortgage consultant working for Wells Fargo Home Mortgage. He has been in the industry for 7 years, and resides in Jacksonville, Florida with his wife and daughter.
Continue Reading “Great New Mortgage Program for Homes that Need Repair”
Recently I attended a very informative real estate class, Short Sales & Foreclosures: Protecting Your Clients’ Interests, which was sponsored by the Council of Residential Specialists. I found this class to be full of very helpful information for me as an agent, and also for my clients who are buying or selling distressed properties. Falling behind on your mortgage can be very anxiety producing, and potentially losing your home is devasting. There are some basic things homeowners can do to protect their home from foreclosure.
Continue Reading “Avoiding Foreclosure Checklist - Homeowners’ Option”
The St. John County School District, which serves Ponte Vedra Beach and St. Augustine, was rated the #1 public school district in the state of Florida last year. One of the special features of our school district are the “academies” that are offered at each high school. Academies are considered smaller learning communities within a high school. They integrate academic and career related curriculum, team teaching and involvement from local businesses. Field trips, mentoring and real world activities are also important components of the learning envirnoment.
Continue Reading “St. Johns County School District High School Academies”
Tony Allegretti, Market Director for the Riverside Arts Market, gave a great presentation at the Jacksonville Chapter of the American Marketing Association last month. He explained that the Riverside Arts Market was not an overnight phenomenon as it may seem to some, but rather 16 long years in the making. Tony attributes a large portion of the success to the numerous volunteers and interested parties that have come together to support the effort. Economic “on site” impact of the market for 2009 was estimated at $1 million and more than $4 million when incorporating the surrounding businesses.
Continue Reading “The Riverside Arts Market - A One of a Kind Experience”
In July of 2009 the Florida Legislature passed a landmark bill called the Florida-Friendly Landscaping bill. This act requires local governments and homeowners associations to participate in water conservation. The bill also encourages the use of indigineous plants, reducing the use of fertilizer and pesticides, and providing food and shelter for native animals.
The University of Florida has a wonderful website that offers suggests for Florida-Friendly Landscaping programs. Some of their suggestions include:
* RIght plant, right place
* Water efficiently
* Attract wildlife
* Stop the spread of invasive exotic plants
* Increase ground water recharge
* Minimize disturbance of existing native plants
Last week I was showing homes to a couple from California. They were interested in golf club communities, so we were looking at properties in several of Ponte Vedra Beaches’ beautiful gated communities. The wife giggled when she saw a sign posted by a large lake that said “Please Don’t Feed the Alligators”. She asked if the warning on the sign was legitimate. Well, what can I say, but “YES”!
As a Florida native I’ve grown up knowing that where there is a body of fresh water there are most probably alligators. Usually, the old adage “they’re more afraid of you than you are of them” holds true, but not always. Alligators, which are native inhabitants in the southeast, are usually afraid of people and aren’t normally a threat. However, as people encroach on their natural habitats, they are coming into contact with humans on a very regular basis. Feeding any wild animal reduces their fear of humans. This is especially true of alligators--hence the sign I mentioned above.
The Jacksonville Symphony Designer Showhouse is a major fundraiser for the Jacksonville Symphony. And what a fund raiser it is! If you haven’t been to a Symphony Showhome before you’re in for a real treat. This year the designer show home will be one of the gorgeous new homes in Coastal Oaks of Nocatee. Toll Brothers will feature their wonderful Marquis home which offers 5 bedrooms, 5.5 bathrooms and a courtyard with a 4 car garage. The gourmet kitchen will be outfitted beyond your wildest dreams as will be the opulent master bedroom and bathroom. The list price for this house will be over $1 million.
The address for the show home is 280 Port Charlotte Drive and the house will be open for tours April 17th through May 9th. Check out the Showhome’s website for information about special events and speakers. All money raised will go to the Jacksonville Symphony Guild and the Jacksonville Symphony Orchestra.
Continue Reading “This Year’s Symphony Guild Designer Showhouse Will be in Coastal Oaks at Nocatee”
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