Lisa Barton

Okay, so you have just signed the contract to purchase your new home. What next? One of the things you will need to do prior to closing is arrange for homeowner’s/hazard insurance. Fortunately for north Floridians there are many companies writing coverage in this area. We have not had a hurricane since Dora in 1964. 

The homeowner’s policy covers three basic areas:

1. Structure of the home and detached buildings on the property. 
2. Your home and buildings on your property are insured if they are damaged or destroyed by a covered peril.  Most companies require that you insure your home for at least 80% of the current replacement cost. Remember, this dollar amount represents the cost to replace your home and has little to do with “market value”. The most common insurance policy is the HO-3, a comprehensive policy that covers all perils except those that are excluded.  Homeowner’s insurance will also cover additional living expenses. This will pay your expenses if you must live elsewhere until your property is repaired or rebuilt due to a covered loss.

Continue Reading “The Basics of Home Insurance”

I recently listed two homes in a wonderful community in North Jacksonville, Amelia View. Amelia View is a navigable water and marsh front community, overlooking Nassau Sound and historic Amelia Island. Amelia View features a waterfront park on Samples Creek with a boat access ramp, gazebo and concrete floating dock. Boat and RV storage is available within the community, but not available to all residents. At the heart of Amelia View is a community center that features a swimming pool, clubhouse, covered lanai, basketball courts and a play area. Downtown Jacksonville and the River City shopping center are easily accessible from Amelia View. The community is close to quality educational facilities. Homes in Amelia View sit on large lots, some on almost an acre, many with beautiful marsh or water views. 

Home prices are quite reasonable in Amelia View, especially considering that homes are fairly new. For example, 2990 Amelia Bluff Drive is a lovely home that has been meticulously maintained. This property has 4 bedrooms and 3 baths and sits on more that 3/4 of an acre. There are fantasic views of the water from almost every room. Believe it or not, the list price is below $300,000!

Continue Reading “Great Family Neighborhood with Deep Water Access in Jacksonville”

According to articles in both The Florida Times Union and the Ponte Vedra Recorder this week, reserve managers at the Guana Tolomato Matanzas National Estuarine Research Reserve are looking for old photos of the area to determine what the original landscape looked like. In particular, photos taken of coastal strand between Jacksonville Beach and Daytona prior to 1950 are being sought. The managers believe that this landscape, just south of Ponte Vedra Beach , may have been far different from what it is today. They are also seeking clues recorded in journal entries and notes from naturalists and explorers that may have visited the area in the early part of the century. Mining, farming, and roadwork all came to the area and altered the landscape. It’s been undisturbed as a park for about a quarter of a century now, but whether this landscape returned to what it was originally has yet to be determined.

Continue Reading “Clues Needed to Help Guana Find its Past”

A new poll of nearly 1,000 Realtors offers a glimpse at the top “green” improvements recommended by real estate professionals to help move a sale property off the market.

The upgrades are all fairly inexpensive and include:
* planting native greenery
* replacing air filters
* staging the home with recycled or reusable props
* weather-stripping doors and windows
* installing programmable thermostats
* installing low-flow showerheads
* using turn-off power strips
* replacing standard lighting with CFL or LED bulbs
* choosing low-VOC paint

And while three of those nine options get back at least twice as much in sale price gains as they cost, none have a bigger return on investment (ROI) than the top five traditional upgrades suggested by realty practitioners in a November survey. Cleaning and de-cluttering a home before it goes on the market, for instance, will cost the owner less than $200 to complete but bumps up the property’s sale price by almost $1,700 – for a staggering ROI of 872 percent.

Other high-ROI traditional improvements recommended by the real estate community include home staging, lightening/brightening, landscaping and plumbing repairs.

Although they do not offer a great ROI, HomeGain says eco-improvements are becoming more popular; and with their energy savings and low cost of investment, they probably should be considered by all homeowners – not just those preparing their unit for sale.

Source: USA Today (01/14/10)
Nine Steps to Make Your Home More Green

Continue Reading “Selling your home? Realtors pick nine green improvements to help close the deal”

Foreclosures Weigh on Home Appraisals
Approximately 25 percent of real estate practitioners say low appraisals have broken up deals, according to the NATIONAL ASSOCIATION OF REALTORS®.

While foreclosed properties typically are not included in a comparable sales analysis, they account for about 40 percent of home sales—more than 50 percent in some markets—making it difficult for appraisers to value properties not in the foreclosure process.

Additionally, new industry rules that require mortgage lenders to order appraisals through in-house staff or appraisal management companies means more appraisers without knowledge of the local market are making valuations.

While Zillow.com says non-foreclosures are selling for upwards of 30 percent more than foreclosures, a study of 20 years of home sales in Massachusetts by Harvard University’s Joint Center for Housing Studies indicates that dwellings closer than 100 yards to a foreclosure lose about 1 percent in value.

Source: USA Today (01/04/10)

Continue Reading “Appraisals Negatively Effected by Low Sale Prices on Foreclosed Properties”

Fannie Mae (FNM/NYSE) announced today that it is undertaking a comprehensive review of hundreds of condominium projects in the state of Florida in an effort to allow additional projects to become Fannie Mae-eligible through a new “Special Approval” designation. First time home buyers who want to purchase a condo as their first home have historically been limited to only a few condo communities. That may change soon. The Federal Housing Authority has just issued a press release indicates that the Fannie Mae will be relaxing some of its requirements for condominium developments. This should make it easier for buyers to get into a new home while only having to put down a small downpayment and also help move some of the existing condo inventory. Good News for Buyers!!!

Continue Reading “More Condos Opening up to First Time Home Buyers”

There was an interesting article by Leslie Kaufman this week sent by floridarealtors.org that discussed one of the positive aspects of the current real estate market crisis. Land trusts as well as state and local governments have been able to boost conservation efforts as property values decline.

Continue Reading “The Upside to a Down Market – Conservation”

Oceanwalk is a terrific neighborhood in Jacksonville’s Atlantic Beach. This weekend (1/9) several local real estate agents will be holding their listings open on Saturday from 1:00-4:00. We’ll have hot chocolate, cookies, and the opportunity to see five different homes that are for sale. Please stop by my listing at 2338 Fiddlers Lane for a map to all the other homes that will be available for viewing. 

Continue Reading “Open House in Oceanwalk this Weekend (January 9th, 2010)”

Breaking News!!! Congress overwhelmingly passed a bipartisan measure this week extending the $8,000 home buyer tax credit to April 30, 2010. The legislation, which is part of a larger bill that also extends unemployment benefits, was signed into law by President Obama today. More people are now eligible to take advantage of the law, which includes a $6,500 tax credit for buyers who are current home owners and have lived in their home for five of the past eight years. Income limits for eligible home buyers were also expanded to $125,000 for single buyers and $225,000 for couples, up from $75,000 for individuals and $150,000 for couples. Qualifying home prices are capped at $800,000.

For a great explanation of the tax credit click here.

Continue Reading “First Time Homebuyers Tax Credit has Been Extended & Expanded”

Looking for something fun and different to do with your family?  Try the free movie nights at Nocatee Community Park (707 Little River Road, Ponte Vedra).

Continue Reading “Nocatee Movie Nights”