It’s a Seller’s Market

Low inventory levels continue to strengthen the sellers market, if you’re a buyer don’t let it surprise you when you’re faced with fierce competition and told to render your highest and best offer.

In Duval County the $40,000-$50,000 had the highest number of sales while the $400,000-$500,000 showed the most growth in number of sales. Also, the $200,000-$250,000 accounted for the most number of homes for sale and the $250,000-$300,000 reflected the highest growth in 1st Quarter 2013. 64% of the properties sold were “distressed” sales (foreclosure or short sale). There has been a slight downtrend in the number of Lis Pendens (notices of forecl...

SALES RISE HIGHER THAN INVENTORY LEVELS CAN HANDLE

Our inventory levels are down 20.3% and the sales have increased 11%  parroting last months more of the same. We have to get higher gains in our inventory as the days on market keep decreasing to keep up with this demand. The FHA lending changes on the horizon will eliminate some of this buyer pool and may   result in a slow down of the increasing average sales price,. As things level out to the change in the amount buyers can qualify with the increase in the monthly mortgage insurance.

This change, effective April 2013, will decrease a buyers ability to purchase (given our average sales price and current interest rates)  by 2%....

October 2012 Jacksonville Real Estate Market Statistical Summary: 

Positive Changes!

 Historically speaking, seasonally all markets shed a little inventory toward the end of the year. Sales are strong over the spring, summer and fall then lighten up in the holiday season.

Most remarkable this month was the increase in closed sales (up 19.3%) the average sales price and median sales prices are showing positive yet slow increases and that is also an indication of the short sales and foreclosures having less of an effect on the prices.

Short sale lenders and foreclosure held properties are doing the due diligence needed to price the properties correctly and are experiencing   continued...

Jacksonville Real Estate market Statistical Overview Nov. '12

Recovery Continues

Nice to see a small increase in the number of new listings considering well priced properties are selling despite the usual seasonal adjustments. We have many things to be thankful for this holiday season in the real estate market. Months of inventory and days on market continue to decrease as the factors of supply continue to show an overall decrease and sales continue to increase. Many sellers opt to  remove their properties from the market at this time of the year which given the statistics is NOT prudent. 

Interest rates remain unbelievably low, the FHA loan limits remain unchanged and the renovat...

5 Tips for creating a happy family & Getting your home SOLD while still LIVING in your house.

Making a move is a difficult time, even knowing that you're potentially moving to a bigger place, or one closer to family can't eliminate all of the feelings of anxiety and the stresses involving a move. As you already know as a parent our kids can feel this stress so you must enroll them in the process to make your lives easier.  It's important to involve your children in the process to make the transition easier, this can be especially difficult if you're being transferred for employment. So once you have your children on board involve them in the SOLD steps below.

1. ...

Out with the old in with the Nu...Lu

What's in the past.....is in the past (like Rafiki says from The Lion King). The old Lu was cozy, had parking issues and amazing food blah blah blah....the new Lu is huge and guess what they have parking issues there too....WHY?? Because the food is amazing STILL nothing there has changed AND it it's reasonably priced. This business has truly created a culture of followers that don't mind visiting the awesome bar and mingling, talking and drinking while waiting for a table without belly aching about how long it takes. 

So now that we have that out of the way...let's talk about the food. To say it is magical is an understatement. These guys have taken...

One of the first questions potential buyers ask once they've shown an interest in a property "What are the utility bills for this home". My answer "It's based on your usage, I can teach you ways to keep your usage to a manageable level and show you how to invest pennies and save dollars".

The simplest change you can make is a NO COST approach by making behavioral changes. Which is easier said then done. Anyone who's tried to loose weight, quit smoking, or start exercising you know that behavioral changes are the hardest to stick to so this weeks blog is going to concentrate on the lions share ...

Employment, the Economy and Government lending changes

Overall January had lots of positive changes. These are the most positive changes we’ve seen since 2006.

However, with the positive does come a few potential negative items on the horizon to be aware that will effect the real estate market.  To what degree is unknown, it may just provide some stability in attaining a more neutral market by eliminating some potential buyers from obtaining financing.

New listings this month did increase by 2.3% over January 2012 and were up 52% over December 2012 so the seasonal market and the last minute renewal of the mortgage debt relief act did come into play. However, the pending sales cont...

Jacksonville FL Southside Real Estate Statistical Overview for Dec 2012 and Year End 2012

Inventory is low....only a 2.9 Months of inventory means if you're buying on Jacksonville, FL Southside or ICW area if you like it, buy it!! The average days on the market has decreased and the median sales price has increased. This is a SELLERS market, sellers are faced with multiple offers on well priced and condition properties. Don't delay if you're considering putting your house for sale NOW IS THE TIME...don't miss out on being able to move up as you become in competition with the other buyers making their moves in the Southside and ICW areas.

Rosie Hetman-Clemente, Broker Owner of Atlantic S...

Jacksonville Beach, FL Real Estate Market Overview Dec 2012

Supply and demand are working their magic as the number of new listings has decreased while sales have increased. This leaves us with a low inventory and a months of supply of 3.9 which is a sign of the beginning of a seller's market. If inventory does not increase to meet the demand then the prices will continue to rise. YTD Jacksonville Beach, FL has recognized a 10.6% increase in the median sales price. If you're thinking of selling and especially moving up or down then sell now while the prices for you to purchase are still reasonable and interest rates are low. If you're in the market to buy remember that when inventory is ...

Nothing but positive signs in the Southside/Mandarin MLS Region December 2012 Ended with YTD positive signs in all categories including a 5% increase in the median sales price. New listings and pending sales are up and the days on the has market decreased.

Rosie Hetman-Clemente, Broker Owner of Atlantic Shores Realty of Jacksonville 904.591.2709 Real Estate Consultant creating Raving Fans since 1999

Cradle Creek Preserve is yet another hidden gem in Jacksonville Beach, FL. For those of us locals this is a little cut through street that takes you through the middle of the beach when you're trying to get South Beach and avoid the traffic on 3rd. We find ourselves just zipping by and not taking a second notice to this hidden little parking lot (really hidden couple of parking spots) on the corner of South 15th Street and Fairway Lane. Next time you've got a few extra minutes on your commute and you're looking for a place to clear your mind then pull over and discover Cradle Creek Preserve.

 First, it's hard to believe that there can be almost 37 acres of undeveloped land that's waterfr...

CHECKMATE THE NUETRAL MARKET VS THE SELLERS MARKET

Duval County specific statistics (the above use the 5 county area) are indicating in the 4th Quarter Statistical    Review that as a whole we are a neutral market yet teetering on the edge of a sellers market. Many areas already reflect a sellers market as the months of inventory is very low. Part of that lack of inventory is due to seasonal adjustments (sellers taking homes off the market for the holidays or delaying listing as not wanting to show over the holidays) and many owners in distressed properties were waiting it out to see if the Mortgage Debt Relief act provision got extended (which they did until end of 2013). It will b...

Dwight's Bistro in Jacksonville Beach, FL is a hidden jewel. Known by the best foodies, locals and anyone who's ever had a personal chef it by far gets my vote for the most intimate dining experience in Jacksonville Beach, FL.

First, MAKE A RESERVATION! If you're driving down Penman Rd after 8pm Tues-Saturday it's worth just glancing over to see the parking lot of Dwight's just packed. If you drove by there at 6pm it might look completely vacant. So don't be surprised if you walk in at 6pm and they ask you if you have a reservation, just make a reservation. This place is all about the planning, careful detail is put into EVERYTHING when they say everythin...

In Jacksonville Beach, FL there is only one Bakery and sandwich shop that has stood the test of time and become an icon to both locals and townies alike. Cinotti's Bakery is no stranger to baking, this is family tradition. The original bakery was started over 65 years ago by the current owners grandfather and was moved to Jacksonville Beach, FL back in 1955. His sons Nick and Joe took over 1965 when "Papa Nick" passed. In 1985 the current family members Mike and Doodle took over and it's been in its present location at 1523 Penman Rd since 1990.

You can't possibly live or visit Jacksonville Beach, FL without patronizing Cinotti's it's been a beaches icon for 50 years.

If you can dream...