Lisa Barton

Tomorrow, June 20th, is the third Saturday of the month, and that means that Nocatee will be hosting its monthly Farmers Market again. Local farmers will be offering fresh fruits and vegetables (remember, it is peach season). There will also be handmade crafts, artwork and prepared food for sale, as well as live music and children’s activities. The Farmers Market will begin at noon and last until 4:00 and will be located off Crosswater Parkway. You won’t want to miss it!

FHA home loans are not just for first time homebuyers anymore! FHA home loans can offer easier qualification standards, lower down payment requirements, and lower monthly payments than comparable conventional loans. What is an FHA loan you ask?  It’s a home loan from a federally qualified lender that is insured by the govt. via the Federal Housing Administration. It’s only allowed for primary homes (no vacation or investment properties), and can be used for properties with up to four units. Manufactured homes are also allowed.

Last month I purchased a Toyota Prius and I couldn’t be happier. I’m averaging 48 miles a gallon and can fill the 11 gallon tank up with regular gasoline. Believe it or not, the interior is roomy and I can comfortably fit 4 adults in the car. When I’m working with a family or a larger group of people a bigger car is necessary, but usually I’m showing properties to only one or two people. I did purchase the navigation system and the blue-tooth capability—essential tools for any real estate agent. The car also has a back-up camera which projects onto the navigation screen. Very cool!

As of May 29, 2009, the U.S. Department of Housing and Urban Development (HUD) gave FHA-approved lenders permission to develop programs that will allow first-time home buyers to use the federal tax credit (which can be up to $8,000) to help cover closing costs or to buy down the interest rate on a mortgage. The lenders can also develop programs such as bridge-loans that will allow new buyers to put down a larger down payment on their mortgage. Right now the minimum down payment on an FHA loan is 3.5% of the loan. It’s important to note that these bridge loans cannot be part of the initial 3.5%—first-time buyers have to come up with that money on their own.

Remember, the first-time home buyer tax credit is available to individuals who’ve never owned a home and to those who haven’t owned a home in at least three years. This tax credit does not have to be repaid and is worth up to $8,000 (depending on the purchase price of the house and the buyer’s annual income). For more information go to the National Association of Realtors.

Given that my particular focus area is the Jacksonville Beaches, I investigated the first quarter sales indicators for my specific target areas: Atlantic Beach, Neptune Beach, Jacksonville Beach and Ponte Vedra Beach. Additionally, I looked at vital neighboring communities including Ponte Vedra South (which includes Vilano Beach and the Intracoastal), and NE St John’s County. The good news is that all aggregate real estate sales indicators for the Beaches area showed improvement in the first quarter of 2009 when compared to the same quarter last year. Specifically, home sales rose 5.1% from 117 to 123.

Here are five easy tips for saving energy in your home.

A new twist in the foreclosure world…some banks that are heavy with construction loans, have been foreclosing on homebuilders whose unsold spec homes have lost significant value with the real estate market decline. Some of the property that these banks own includes housing units in varying stages of construction. Believe it or not, some banks have begun demolishing excess properties in order to avoid the costs associated with finishing the construction and marketing the houses. Banks claim that this extreme measure increases the safety of neighborhoods by preventing squatters and vandals from trespassing. After demolition, materials used in construction are turned into mulch for landscaping or salvaged for usable materials that can then be resold.

Last Saturday I spent the afternoon at the Green Market in Neptune Beach . This farmers market is held every Saturday from 2:00-5:00 in Jarboe Park, which is in the heart of Neptune Beach. Neptune Beach is just south of Atlantic Beach and just North of Jacksonville Beach. There was plenty of parking, a live band and a festive atmosphere. We had a blast! The Beaches Local Food Network organizes this market and they also coordinate the Beaches Community Garden.

As you’ve probably read, first time home buyers are driving the real estate market nationally, as well as here in Ponte Vedra Beach. I recently worked with first time home buyers who purchased a great 3 bedroom 2 bath house in Sandy Oaks, a small neighborhood here in Ponte Vedra. The house was originally listed for $349,000 and sold in April 2009 for $209,900. The buyers were able to secure a low interest rate and at this price purchasing a home was cheaper than renting.

Economic indicators are lining-up favorably for first time home buyers. Encouraged by several factors including: a first time home buyer tax credit, low mortgage interest rates, a high inventory and reduced home prices, first time homebuyers are driving the sales figures in the Jacksonville real estate housing market.