The housing market is very different than it was before the foreclosure crisis. The New York Times provided some guidance from economists and financial planners when contemplating a home purchase. Here are the highlights:
Continue reading “7 Tips for First-Time Home Buyers ”...
Credit scoring has long been associated with obtaining loans. Recently, however, one’s score is more relevant than ever as borrowing money is becoming tougher and tougher. Conventional home loans are now adding price adjustments for any scores below 720. Having a higher score can potentially save you thousands of dollars in interest over the life of a loan!
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Did you know you that’s it is even easier to search and save properties with my newly redesigned website? This feature will allow you to revisit the homes that you liked the most or send them to others that might be interested too. Here’s how:
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On a quarterly basis we update you on the health of the Beaches real estate market. One of our key measures, traditionally, is to track the number of home sales year-to-date and to compare these indicators to the prior year, same period.
An interesting article recently in the New York Times (Business section, Saturday, May 31, 2014) highlighted several other measures that provide a more nuanced look at the overall sales.
Continue reading “Housing on the Mend ”...
Ever wonder how far your money will stretch by location in the real estate market? Here are price comparisons for recent sales in four different cities across the United States. We might be biased, but Jacksonville, Florida, looks great to us!
Continue reading “How Far Will Your Real Estate Dollar Go? ”...
Spring 2014 - Jacksonville and Ponte Vedra Beaches Market Update
In our 2013 year-end update, we highlighted improved market conditions and also a decided swing from a buyer’s market to one driven by sellers. That trend continues this spring. As of the end of the first quarter of 2014, the key Beaches indicators are as follows (as compared to the first quarter of 2013):
- New listings dropped by 7.7%
- Closed sales dropped by 4.9%
- Average days on market rose slightly to 105 (2.9%) but as still well below a “balanced” market of 120 days
- Median sales prices rose from $262,000 to $333,000, up 27%.
- Selling prices to original listing prices declined slightly (0.8%) to 92.6%.
Perhaps most surprising, was the rise in median sales prices. Further analysis indicates that the entire price gain came from two beaches markets—Ponte Vedra Beach North (Region 25), which was up almost 92% and Jacksonville Beach, which was up almost 20%. Median sales prices actually declined in Neptune Beach (- 15%) and in Atlantic Beach (-1%). The first quarter comparison most likely will exaggerate the overall price gains, so watch next quarter for an update on prices when we have a full six months of data to work with.
Continue reading “Beaches Market Report Spring 2014 ”...
The positive growth in our national economy has had a big impact on values in Ponte Vedra Beach, particularly Marsh Landing's Harbour Island. Sales and new construction were resurgent in 2013. A number of factors appear to be driving the overall improvement of the Northeast Florida real estate market, including:
- Soaring stock indices.
- Actions from the Federal Reserve, encouraging interest rates to remain low.
- Declining unemployment rates.
- Increased consumer confidence.
- Declining numbers of lender-mediated real estate transactions (short sales and foreclosures).
Continue reading “Real Estate Market Report: Harbour Island ”...