1463 Ingleside Avenue - Sold for $310K

3873 Oak St. Sold for $177K

4922 Morven Rd. Sold for $250K/Lot Value

Villa Riva, Unit 105, Sold for $775K

 The Powell Steilberg team had a banner week! We sold three of our listings, we brought a buyer to another listing, we had a contract accepted on another listing and will enter a brand new listing into the system today.

So…Four completed transactions (closings) in one week with two more on the way is a good thing! Good for us personally but also good for the state of the real estate market in Jacksonville – things are really beginning to move!

Two of the homes we sold were sold at FULL PRICE. This means that the homes were well priced, the buyers realized the value being offered and were smart enough to jump on a good deal when they saw it.

The properties were:
1.A luxury condominium at Villa Riva – Unit 105 – Sold for $775K

2. A Small Brick 2br/1ba bungalow on Morven Road in Ortega. It sold for $250K which was just about lot value – the buyer plans to tear the house down.

3. A wonderful two story home in Avondale that I wrote about yesterday. Sold for $310K. Buyers are delighted with their purchase!

4. A very special 3br/1ba bungalow in Avondale on Oak Street with hardwood floors & renovated kitchen. Sold for asking price of $177K. First time home buyers are very excited about their new home!

4631 Ortega Blvd.

We are fortunate to have just listed another WONDERFUL home in one of Jacksonville’s best neighborhoods – Ortega! Very spacious with 4,700 square feet, this home has room for everyone and all of the features desired by today’s buyers.

Starting with the dramatic entrance foyer and moving into the huge dining room flanked by large picture windows, you know right away that this is a home made for entertaining! The family room is open to the fabulous kitchen that has lots of counter space, a large eat-in area and easy access to the two car garage.

The master bedroom is downstairs and the home features a split plan with a fabulous loft space upstairs that could be used as a second family room for teens, a study area, a home theater area or exercise space. The possibilities are limitless.

Please call us for an appointment to see this great house before it gets snapped up — at only $840,000 (178 per square foot) it’s likely to go fast!

Classic Elegance

The Avondale and Ortega areas are noted for their Historic Charm and Beautiful Older Homes but we all know that historic homes often go hand in hand with high maintenance and/or renovation expenses.

The new home that we’ve just listed at 4973 Arapahoe Avenue provides the best of both worlds. Here, you get to be part of an established, older neighborhood yet enjoy the modern conveniences afforded by new construction. Built in 2006 by noted builder John Parr, this home has an open floorplan, tall ceilings, a great livability factor, five bedrooms, a fabulous loft/bonus room, walk-in closets, walk-in pantry, very spacious garage with storage, large screened patio and refreshing salt water pool. To see a video of the home, click here.

Refreshing Salt Water Pool

Take a look and please call if you’d like to see this great home in person! We’d be happy to schedule a showing appointment.

The real estate team of Caroline Powell and Allison Steilberg The sold properties are: single family homes at 4620 Algonquin Avenue and 4652 Ortega Blvd and a condo at 1661 Riverside Avenue in Riverside. The pending sales are: 3022 St. John’s Avenue — this will close next week, 1465 Edgewood Circle, 1769 Glendale Street, 1463 Ingleside Avenue and 3527 Riverside Avenue. We have one condo that’s a pending sale at Beau Rivage – a very nice building on St. John’s Avenue.

Other members of the Avondale office are similarly busy so it begs the question, are we in a real estate recovery? If you’re thinking of selling, there are LOTS of buyers out there looking for homes. Interest rates are still at historic lows and there’s a lot of pent up demand for housing.

A word of caution, if you want to sell, it’s imperative that you PRICE YOUR PROPERTY CORRECTLY and do everything you can to put the house in prime showing condition. Clear out all th clutter, invest in some fresh paint, do a clean out of the yard, closets and garage — today’s buyers are picky. They will buy a property at a fair price only if it looks great with updated kitchen and baths or if it’s a “distressed” property and is a BARGAIN BASEMENT STEAL!

Thanks for reading — check back often for the latest news about real estate in Avondale, Ortega and Riverside from the market leaders in the area — remember, “With Us, It’s All About You”!

Appraisal Clipboard

Unless a buyer is paying cash for a home, they must obtain a loan. With the real estate meltdown, banks are being ultra cautious about who they are lending money to and how much they will lend.

Recently, we had two homes under contract (this means that both buyer and seller have agreed to a sales price) and the “file” was sent to the bank to begin the financing process.

One of the most important pieces of this process is an appraisal of the property.  Due to new regulations, bankers must call a “third party” group to order an appraisal. They used to be able to speak directly with appraisers but this is now prohibited. It’s common knowledge that real estate is very local and sometimes, values vary widely on a street by street basis. The problem with the new system is that appraisals are often conducted by people who aren’t famililar with the community they’re doing an appraisal in. They don’t have access to the local area knowledge that often adds “intangible” value to a home or neighborhood.

As a result, many homes don’t appraise for the agreed upon purchase price. When this happens, either the seller must reduce the price to the appraised value or the buyer must agree to bring the difference between the appraised price and the agreed upon sales price to closing in cash — or, the two parties can re-negotiate where the seller comes down a little and the buyer brings some cash to the closing.

In two recent transactions that we had, the property did appraise for the purchase price, but at the 11th hour, the bank sent the file back to underwriting for an appraisal review — one of these was ordered less than 24 hours before closing and held up the sale by almost a week. In the other case, the underwriter requested that the appraiser justify why he didn’t use some particular home sales in his property analysis. This led the appraiser to go back out into the “field”, photograph the homes that were not used and explain why they weren’t used. The net result was that the underwriter accepted the appraiser’s comments and we’ve been approved to move toward closing. So, both transactions had happy endings but with a lot of angst along the way!

Throughout a real estate transaction, there are many pieces of the puzzle that must be assembled and it’s important that you choose seasoned realtors who know how to maneuver through the many hurdles that will come up. Allison Steilberg and Caroline Powell of The Avondale A Team in Jacksonville,FL can (and do) provide just such expertise. If you have questions, please feel free to call us — we’ve love to help!

They need to determine if the price that the buyer has agreed to pay is, in fact, fair market value and the appraisal is supposed to

In every neighborhood across America, there are a few prime neighborhoods where dream homes are built. Whether its the “flock mentality” or just plain beauty, neighborhoods like this often attract some of the city’s best and brightest.

The neighborhood of Ortega, and specifically, the “point” of Ortega is certainly one of those places and the house we’ve just listed at 3781 Ortega Blvd. is nothing short of spectacular!

Despite the fact that this is an ultra sophisicated home outfitted with the finest, one of the home’s major attributes is that it may just offer one of the best downtown views of any home in Jacksonville. Beautiful by day and even more so at night, this view is majestic and inspiring. Multiple outdoor spaces draw you out to bask in the beauty of the water, sun and skyline.

From the moment you enter the drive and notice the lush landscaping and manicured gardens, it’s obvious that you’ve encountered something very special. Enter the foyer, look straight through the house to the incredible river views, and you’ll be hooked.

Built in 1956 and renovated to perfection, this home is the epitome of gracious, easy living and is an entertainer’s dream.  All rooms flow easily from one into another and there are beautiful outdoor spaces as well.

Appointed with nothing but the finest including a gourmet kitchen, custom millwork, a home exercise studio and lush landscaping, you won’t find anything “missing” here. Beauty combined with an easy sense of living make this home a ten!  Offered at $3,750,000, this is one of Jacksonville’s signature homes.

If you’d like more information about this home or any of our other listings in Avondale, Ortega or Riverside, please give us a call at 904-252-5181. We’re approachable, knowledgeable and ready to help — With Us…It’s All About You!

It’s rare that one of the crown jewels of Ortega Blvd. becomes available and we are proud to be the listing agents for one of the best homes on “the Blvd” (as it’s called by the locals).

Just listed at 3915 Ortega Blvd, this 4BR/3.5BA home is the epitome of classic elegance. Among it’s wonderful features are a grand entrance foyer, tall ceilings, formal living room with carved stone mantle, cozy library, slate patio, riverfront dining room, an incredible “river room” with walls of windows and fireplace, large kitchen, renovated master bathroom and professionally landscaped gardens. It’s situated on a high bluff with incredible vistas of the St. John’s river.

There aren’t many opportunities like this and we look forward to introducing this property to qualified buyers. If you’re considering a move to Jacksonville or looking to “trade up”, we’re standing by to be of assistance. Thanks for reading and we look forward to hearing from you.

 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.

 The irrational exuberance that once led people to pay ridiculous amounts for real estate has become irrational vulturism (I made that up) and buyers won’t buy unless they feel they’re getting a “STEAL”. 

This, of course, begs the question, what exactly IS a steal and how will you know one when you see one?

Is a STEAL a house that’s priced at a certain price per square foot? Is a STEAL a house that’s been reduced by a million dollars? Is a STEAL a house that came available at a fair price on a street where houses almost never come up for sale? Is a STEAL a foreclosure?

Most realtors use the price per square foot method to develop the asking price of a house and most buyers use it to locate what they believe to be a  BARGAIN. To get this, you take the asking price of the house and divide it by the heated/cooled square feet of living space.

I personally don’t believe that price per square foot tells the whole story.  There are so many other variables to consider including  location,  quality and condition (amount of renovation/upgrades). Just because something is being sold for a low price per square foot doesn’t necessarily mean it’s a DEAL.

Take these two houses for example. One is located on a cul de sac in Ortega and the other on Riverside Avenue in Avondale. Both were very nice homes in good locations and both sold for around $390K. They had different square footages, however, so the ppsf for one of the homes was $142 and the other was only $118. Which person got a better deal? Post a comment and let me know what YOU think.

There are plenty of “deals” out there so if you’re in the market for one, call us and we’ll help you find it!

Thanks for reading — please join us next time for the state of real estate in Avondale, Ortega and Riverside!