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Archive for May, 2010
As you read the title of my blog today, you must be wondering — is she crazy? What DO those numbers mean? They represent the number of single family home and condo sales on a month by month basis beginning in January of this year. Condo sales are in parentheses.
The month of April was a little wild for us. We had a couple of sales, took several listings and were working with a few buyers. It seemed, at times, that we could hardly come up for air. May, thankfully, has been a little more sane but I began to wonder — was April really busy for everyone?
I checked the number of sales for both single family homes & condos since the beginning of the year (in Avondale, Ortega and Riverside only) and found that April was, indeed, a very busy month with a much larger number of sales than the months before or after. You might think that it was because of the end of the first time homebuyer tax incentive but several of the sales were of luxury properties.
January – 13 single family homes sales - 1 condo sale
February — 21 single family sales – 1 condo
March — 16 single family sales - 1 condo sale
April — 25 sales - 2 condo sales
May – 15 sales — 3 condo sales ( through May 25th, 2010)
Interest rates have fallen to incredible lows (below 5% for a 30 years fixed rate loan), investors are back in the market (why not buy with very low prices and very low cost to borrow) and we have some great new listings coming up for the month of June. Stay tuned…let’s see what the numbers next month reveal.
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Jacksonville, FL based Gibraltar Mortgage, an affiliate of Wells Fargo Mortgage, recently announced a program where they will buy down the interest rate of your FHA or VA 30 Year Fixed mortgage by 1% for the first year for FREE.
FHA loans are available to all buyers purchasing a primary residence assuming they don’t currently have an FHA loan. Loan limits for the surrounding areas is $387,500.
VA loans are for current or former members of the military, national guard or reserves. There are qualifying parameters based on the veteran’s participation. The VA loan limits for Duval, Clay and Saint Johns County are based off conforming loan limits of $417,000 pursuant to the veteran’s remaining eligibility.
Thanks for reading. We write primarily about the state of real estate in Avondale, Ortega and Riverside. We’d love to have you subscribe so you can hear about the latest news for the area — new listings, recent sales, price reductions, mortgage news and more!
Since this time last year (12 months of data), the number of closed sales in this price range has increased by 14.04% and the amount of inventory has DECREASED (that’s a good thing) by more than 50% (53.31% to be exact). We are down to only 13.15 months of inventory meaning that if every home on the market in this price were to sell and no other new listings were to come on the market, it would take approximately 13 months for all of the inventory to be absorbed.
Most people define a “balanced” market where there are an even number of buyers and sellers to be around six months of inventory. 13 months of inventory is approximately double that of a “balanced” market and would indicate a buyer’s market. That’s certainly still true but considering that inventory levels have been as high as a three or four year supply, only thirteen months supply actually seems small by comparison.
So…thinking of selling? Wondering just exactly what your chances are of finding a buyer in this crazy market? Call the experts! The Powell Steilberg team consistently tracks and measures the market so that you have a realistic picture of what’s going on. It’s essential information to have and we have it!
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GREAT news! We’ve just listed a really charming bungalow in the Avondale neighborhood of Jacksonville and would love to have you come take a look. The MLS # is 534911 or you can click here to see a great video of the house.
This one’s been renovated to a T and has many wonderful details including:
a brand new kitchen
beautiful wood floors
enclosed sunroom (perfect for painting, reading or an office)
incredible outdoor entertaining area
two car garage
Priced at only $329,900 and within walking distance to the shops of Avondale, this one is a keeper! Take a look at these pictures and call us for an appointment.
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If you read the blog I wrote about our new listing at 4620 Algonquin Avenue, were intrigued by the video I created or were in Atlanta when you saw the facebook entry and you’d like to see more, now’s your chance! Our fantastic new listing at 4620
Algonquin Avenue in the Ortega neighborhood of Jacksonville will be open tomorrow from 3-5pm. Tired of the commute to downtown from the beach? Want an awesome house in an great neighborhood that’s got almost 5,000 sf and 5BR’s and 5BA’s? An entertainer’s dream with all rooms opening to the outdoors and a great floor plan, this is one you don’t want to miss.
Thanks for reading — please join us for our next installment of the state of real estate in Avondale, Ortega and Riverside!
Do you ever see a friend in the grocery store that you’ve been meaning to call and just haven’t gotten around to it? You feel TERRIBLE and want that friend to know that you REALLY have been thinking about them. You’ve MEANT to call almost every day but by the time you remember to call, the day is almost over and it just didn’t happen.
Unfortunately, the life of a realtor is often the same. We mean to call each and every one of our buyers and sellers every day. The truth is that we DO think about you all the time. Almost every day we say, we REALLY need to call (….). But in the interim, life happens. Busy with getting a new listing photographed, negotiating a offer on a listing, attending an inspection, creating a flyer for your open house on Sunday, researching what the proper price of the house you want might be, searching through active listings for what we’re going to show you or calling to schedule showing appointments keep us from sittting down to check in and just say hello.
The realtor is the middle man. It’s through us that you learn “what’s going on”. How did the showing go? What did the buyer think of my house? Do you think I’ll get an offer? Have you seen anything new on the market? What do you think we should offer on this house that we love? We’ve received an offer way below our asking price — should we make a counter-offer or just not respond? Have you heard anything from the bank on our short sale offer?
Despite knowing that the MOST important thing we can do is STAY IN TOUCH, it’s one thing that can be the most difficult to do. Please know that even if you don’t hear from us, we ARE thinking of you nearly every minute of every day — REALLY. And…..if we don’t call you — CALL US! We love to hear from you. Thanks!
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I just got an email from a customer who says he specifically wants to search for foreclosures, short sales, and pre-foreclosures in a certain zip code. The beauty of today’s technology is that I can set up a search with EXACTLY the criteria that you’re looking for INCLUDING whether or not it’s a distressed sale.
So, you’re looking for a 4BR/3BA home in the “exactly what I”m looking for” neighborhood with a two car garage, a minimum of 3,000 square feet AND you don’t want it unless it’s a distressed property – Shazaam! I set up the search, you get an email about it the day it’s listed and you can be the first one in line (other than the listing agent’s own customers)!
Email us your wish list today and we’ll get you set up — technology is wonderful!
Thanks for reading. If you’d like to know more about the state of real estate in Avondale, Ortega and Riverside, give us a jingle and we’ll fill you in on the latest and the greatest.
Okay folks, this is what you’ve been waiting for! It just doesn’t get much better than this. Come see our listing at 1837 Ingleside Avenue - a beautifully updated home with wood floors, two fireplaces, tall ceilings, vaulted great room, updated kitchen with gas cooktop and granite counters, bright breakfast room, a large fabulous guest house AND a two car garage! The price has been reduced over $75K and is now at $644K — an incredible value. Oh, did I mention that it’s also perfectly maintained? Don’t wait before it’s too late — this is just a great house!
Thanks for reading about the state of real estate in Avondale, Ortega and Riverside. You’ll find news of great new listings, price reductions, sales statistics, and general real estate information.
Looking like it’s been been transplanted from the streets of Coral Gables, this darling Old Spanish house on Avondale Avenue has just been listed. A 3BR/2BA home with plenty of upgrades awaits new ownership! It’s got a fancy new kitchen with granite, hardwood floors and a huge fenced backyard. Priced at $299K for approx. 1,600 sf, the price per square foot is right around $186 — a fair price for so many upgrades. As they say, location, location, location. Call today if you’d like to go see this one!
Thanks for reading about the state of real estate in Avondale, Ortega and Riverside. Stay tuned for news of great new listings, sales statistics and first hand information about “what’s going on”.
If you feel like you’re bursting at the seams in your small 3br/2ba cottage and have hoped for a home where you can really stretch your wings, your dream has come true! Just listed, with nearly 5,000 square feet, 5 bedrooms and 5 baths, there’s plenty of room for everyone! A classic two story brick on one of Ortega’s best streets, 4620 Algonquin awaits your arrival!
From the moment you open the door to the gracious foyer, you sense that you’ve stepped into paradise. On your right is a stunning wood paneled office and to the left a large light filled formal living room with fireplace. Next is a bright and relaxing sunroom where you could curl up and read a book or perhaps take a nap.
The formal dining room is a large space that will accomodate a crowd. The kitchen is open to the family room and features a center island,breakfast area, stainless steel appliances and a large window over the sink. There’s a two car garage with workshop and the lot is deep. The house has great flow with all rooms opening to the garden that’s completely fenced so dogs and small children are free to roam.
If storage has ever been an issue, look no further. This home is one of few in the neighborhood with both a basement and permanent stairs to the attic. Tall ceilings, wood floors, newer roof and insulation that’s been sprayed into all attic spaces, make this one of Ortega’s most sought after homes.
If you’re not familiar with Ortega, it’s a wonderful place where neighbors know each other, children ride their bikes to and from each others homes and to school, people have block parties with barbeque and there’s always someone on standby to lend a hand if needed – a real sense of community is evident here.
The list price for this beauty is $1.1M – priced competitively for today’s market. Please call us today for an appointment.
Thanks for reading! Please join us next time for state of real estate in Avondale, Ortega and Riverside.
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