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Fourth Quarter Real Estate Results
CNN Money constantly monitors the nationewide real estate market every quarter for changes occurring that effect all areas.  Over the last several years, the Jacksonville real estate market has done quite well.  Although I notice for the fourth quarter over all appreciation in Jacksonville has fallen on average about 1.0%.  I find this to be about right given the decline in the prices of property listings in Jacksonville.  Overall builders and site agents have commented that they have seen a significant decline in Jacksonville new home traffic since About October.  The feeling is that this will continue most likely through March 2007. 

Please read the article via the following web link:
http://money.cnn.com/2007/02/15/real_estate/latest_prices_q4/index.htm
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Posted by Sean O'Brien at 3/4/2007 3:34 PM | View Comments (0) | Add Comment | Trackbacks (0)
Real Estate: Who's Buying Now?
A great article written on the new imerging market trend; real estate and the single women.  We have seen more and more single women purchasing Jacksonville real estate over the last few years.  Personally Ive noticed many builders gearing marketing strategies towards attracting this buyer with great incentives and special mortgage programs.  In addition, our site sees more and more single women inquiring about MLS listings in Jacksonville.  Many are purchasing older homes and fixing them up for themselves. 

http://money.cnn.com/2007/01/23/real_estate/new_real_estate_buyers/index.htm?postversion=2007012615
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Posted by Sean O'Brien at 1/28/2007 7:29 PM | View Comments (0) | Add Comment | Trackbacks (0)
The Future Of Jacksonville's Real Estate Market
A great article written on what the Jacksonville real estate market is perceived to be over the next few years.  One of the best synopsis I think I've seen out in a while.  The Jacksonville new home market has quite a bit going for it despite the large slowdown in the housing market over the last twelve months.  Many companies and individuals continue to relocate to Greater Jacksonville due to job relocations and family needs.  One of the only items I hear over and over is about how inexpensive Jacksonville is for real estate.  I don't know if I necessarily agree with this.  I cannot tell you how many customers are "sticker shocked" when they come here from other areas of the country with Jacksonville being a "medium sized city."  Yes compared to Miami, Orlando or Ft. Lauderdale we do have much better pricing and choices, but sometimes I feel we I still can't get a decent restaurant near my home!

http://www.realtybuilderconnection.com/story.php?story_id=3463
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Posted by Sean O'Brien at 1/14/2007 9:37 AM | View Comments (0) | Add Comment | Trackbacks (0)
New Executive home listed in Oakleaf Plantation
North Florida New Homes has a brand new home listing!  This one month old home is located in Oakleaf Plantation in Northern Clay County.  Oakleaf Plantation is one of Jacksonville's premier master planned communites now taking shape in a wonderful A-rated school district on Jacksonville's west side of town.  The home boosts 3263 square feet, five bedrooms, four baths, located on a nice corner lot and priced favorably at $509,990.  The backyard is perfect for the private pool setting as the community's impressive brick wall outlines the back yard.  Granite counter tops, a huge family room and a gas fireplace are some of the great features of this home.  Additional pictures and information are on our site or you can search the entire MLS data base of homes for Jacksonville.    
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Posted by Sean O'Brien at 12/3/2006 10:09 AM | View Comments (0) | Add Comment | Trackbacks (0)
Low Listing Rates
I received a very interesting phone call today from a local mortgage broker who was interested in finding a Jacksonville real estate agent who would list properties for 3%.  Now I have seen quite a bit of discounted property listings in Jacksonville over the last few years, but not one asking for it as low as 3%.  Of course it is possible that he did not understand how co-op works.  Who knows?  At 3% it would be almost impossible to give away any significant income to a an agent who represents a buyer in conjunction with the listing agency making any income.   North Florida New Homes does offer discount listings to those selling real estate in Jacksonville (as low as 4.5%).  We generally offer this type of discount to those who not only list their property with us, but also utilize our services in buying real estate in Jacksonville. 
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Posted by Sean O'Brien at 11/9/2006 8:47 PM | View Comments (0) | Add Comment | Trackbacks (0)
New Builder...First Closing
Standard Pacific Homes entered the Jacksonville real estate market last year buying out Coppenbarger Homes.  Yet another small independent Jacksonville builder sells out.  Unfortunately, we had a difficult time with this closing.  Our customer was a real estate investor from California and contracted for purchase in 7/05.  It only took Standard Pacific Homes 15 months to complete this build...a 3200 square foot home in Oakleaf Plantation!  On top of which their lender, Countrywide, was slow to respond to any questions my customer had.  In fact, we were lucky enough to get a returned phone call from this lender.  Needless to say this way a poor experience on our part and it will make if very difficult for us to recommend this builder going forward.  They seemed very unorganized at the corporate level and had poor communication with their lender.  In fact, I also could not receive call backs from their warranty manager myself.  A lesson well learned!
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Posted by Sean O'Brien at 11/2/2006 8:14 AM | View Comments (0) | Add Comment | Trackbacks (0)
Key Points For Selling Your Home In A Buyer's Market

Just in case you haven't noticed, most cities including Jacksonville are now in a "buyer's market" for home sales. That means there are more homes listed for sale than there are qualified home buyers actively in the market. Nationally, home sales volume is down about 10 percent compared to 2005.

The best way to tell if your area is in a buyer's or seller's market is to check the average number of days homes are on the market before selling. When this number rises above 60 days, it's definitely a buyer's market. That means it's a great time to be a buyer, but not such a great time to be a home seller. 

FIRST KEY POINT.  If you seriously need to sell your home, and are not just "testing" to see what price you might get, you’ll need to get your home into tip-top condition. Most buyers don't want a fixer-upper; they prefer to turn the key in the door and move in. Cleaning, repairing and painting are actions to take. I don’t recommend wasting money on major renovations, which you won't get to enjoy and buyer prospects might not like. 

SECOND KEY POINT.  Set a realistic asking price.  With the help of an agent, utilize a comparative market analysis (CMA) of your neighborhood.  Prices in most markets have leveled off from what was attainable a year or two ago.  If you really want your home to be sold quickly, don't get greedy.  I recommend analyzing three to five recent sales in the neighborhood and set pricing strategically towards the lowest comparable.  Remember it’s a buyer’s market and your strategy is to sell, not be stuck.  Don’t haggle over a few thousand dollars as the buyer may just move on to another property.

THIRD KEY POINT.  Consider increasing the co-op offered.  This above all is my favorite, but many sellers fight this concept.  Why is this so important?  You simply want agents to bring as many buyers into your home as possible.  The more buyers, the better chance you have of selling it at or near your asking price.

Traditionally agents list homes at 5% or 6%, usually giving 2.5% to 3% away to a fellow agent who brings a buyer.  This is referred to as “co-op”.  Agents who are working with buyers will take them to where they have the greatest opportunity to make the most money.  Use this to your advantage.  As agents search the Multiple Listing Service (MLS), they are willing to bring buyers to those homes offering higher co-ops.  I suggest a 3.5% co-op or more.  It’s important to know your listing agent’s co-op.  Low commissions to buyer's agents often result in no sales.  A higher co-op will bring more traffic and odds that you won’t have to make an additional mortgage payment next month and still be sitting on your home!
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Posted by Sean O'Brien at 10/2/2006 2:11 PM | View Comments (0) | Add Comment | Trackbacks (0)
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