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Archive for the 'Riverside' Category
OPEN HOUSES TODAY! Riverside Condos & Ortega Forest in Jacksonville, FL
Two amazing condos are open today in the Historic Park Lane building in Riverside! A riverfront building located at 1846 Margaret Street in Riverside, the Park Lane offers amazing views of both the river and the city of Riverside. This “flow through” view is extrememely unique and not offered by any other condo buildings in the area.
The units are each 2BR/1.5Ba with about 1,300 sf. Priced at $215K and $250K respectively, one offers a beautifully renovated kitchen and downtown view and the other a charmed updated kitchen with butler’s pantry and coffee bar. To see the photos of these condos, click here.
Riverside is a vibrant walking neighborhood with access to one of the city’s most beautiful parks (Memorial Park) as well as lots of local eateries, coffee shops and boutiques. Come see us today, Sunday, February 21st from 2-4pm.
ANOTHER GREAT OPEN HOUSE EVENT!
If you’ve been thinking of buying a new home (or seeing how yours compares to your neighbor’s house down the street) come to the neighborhood open house in Ortega Forest on Sunday afternoon, February 21, 2010 from 1-4 pm. There will be something for everyone from the first time homebuyer starter house to a gracious riverfront mansion. To see all houses for sale (not all are open today) in Ortega Forest, click here.
Thanks for reading! Hope to see you at my open house at the Park Lane Condos today from 2-4!
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Baby it’s Cold Outside – In Jacksonville, FL!
I was showing a few of our listings at Villa Riva (a luxury condo building in the neighborhood of Riverside in Jacksonville) today and snapped this picture of their icy fountain — note the contrast of the icy fountain with palm trees in the background. As the song says, baby it’s COLD outside!
Frozen Fountain at Villa Riva
WANTED! Bungalows in Avondale, Ortega or Riverside!
With the economic stimulus offered by the government set to expire at the end of April and interest rates that remain under 6%, bungalows under $250K are in more demand than ever!
My partner Caroline and I know that there are lots of people out there looking for these houses and would love to help you sell yours.
If you’ve beening thinking of selling but wonder what’s going on in the market, please give us a call — we’d love to talk.
2009 – Number of Sales Increases by 38% in Riverside
The number of homes sold in Riverside in 2009 has increased 38%. In 2008, there were 34 single family home sales and so far in 2009 there have been 47 closed sales. That’s an increase of 38% – Wow!
In Avondale, the numbers are nearly even with 2008. There were 100 closed sales in Avondale in 2008 and there have been 104 so far this year for a net increase of 4%.
The numbers in Ortega are not as good. In 2008, there were 57 closed sales and so far this year, there have only been 46 for a net DECREASE of 19%.
Another important piece of the picture is to take a look at the total dollar volume of these sales for each neighborhood. Riverside had a nice increase in the number of units sold but the total dollar volume of these sales went down by 4%. So…more houses were sold for less money.
Avondale has a similar story with a net increase of 4% on number of units sold but the total dollar volume for these sales is off 5% so, again, more units (houses) were sold but for less money.
Ortega decreased in both the number of houses sold and the dollar volume of those sales. The number of houses sold is off by 19% from 2008 and the total dollar volume is off a whopping 32%! The graph to the right illustrates these statistics.
That’s all for today — thanks for reading — please join me for my next installment of what’s happening in
Avondale, Ortega and Riverside real estate.
2009 Riverside and Avondale Condo Sales Nearly Even with 2008
Click Here to see Graph
In 2007, there were 18 Condominium Sales in Avondale, Ortega and Riverside. In 2008, there were 21 and so far this year (2009) there have been 18 with 3 more pending. The sale prices of the units has fallen quite a bit but, as you can see, the total number of units sold has been surprisingly steady.
A bright spot on the landscape has been Villa Riva – 5 of the 18 sales this year have been at this premiere building in Riverside — that’s a healthy 27% of the total sales year to date. 4 of the 18 sales have been at a building called 1661 Riverside which puts it at a close second with 22% of the sales. The third largest seller has been a waterfront building called Beau Rivage in Avondale that’s had 3 sales or 16% of the market.
For more information about the condo market in the Avondale, Ortega and Riverside areas, please call us for a list of inventory and what we think are the best values in today’s market. We know these buildings inside and out. We can tell you which units have the best views, which buildings have a great management team and other important details about the various buildings in the area.
Thanks for reading, please join me for my next discussion of real estate in the Avondale, Ortega and Riverside neighborhoods.
Whiteway Delicastessen – Great Sandwiches for those “In The Know”
Sammy Salem - Whiteway Deli Owner
When we moved to Jacksonville, FL one of the FIRST places I was taken by my new neighbor, Gina Donahoo, was Whiteway Deli. Gina said it’s a local “institution” with the BEST sandwiches – so off we went and I quickly became a Whiteway devotee.
A favorite among Avondale, Ortega and Riverside locals, Whiteway is a place where you’ll ALWAYS see tons of people you know and consistently get great food.
Served inside pita pockets, most of the sandwiches feature tabouli which has Middle Eastern origins. It’s made with parsley, cucumbers, tomatoes, onions, cracked wheat, lemon juice and olive oil – delicious!
Many of the sandwiches are named for locals. The Anne Beard, for example, has turkey, tabouli, feta cheese, banana peppers and Italian dressing and is one of the best sellers. Wrapped in old fashioned “deli paper” the sandwiches have timeless appeal.
A breakfast favorite is the Emmet special. Named for Judge Emmet Ferguson the dish is an egg white omelet with bacon and tabouli served in (you guessed it) a pita pocket.
Whiteway Deli is a family business that’s owned and operated by Sammy Salem. He has taken over daily operation of the place that his father bought in 1962 but that was opened in 1927 — you can bet there aren’t too many restaurants with that kind of longevity. The restaurant is now proud to count second and third generations of the same families among their loyal customers.
Open only for breakfast and lunch, the hours of operation are 7am – 3pm Monday – Friday. Get there early if you want to go for lunch because the line gets long. If you’re in a hurry, call your order in ahead of time at 904-389-0355. If you have time to sit down, the address is 1237 King Street.
A favorite of the doctors and nurses from nearby St. Vincent’s Hospital, local businessmen, ladies who lunch and area old timers — nearly everyone names Whiteway as a local gem.
Thanks for reading — if you have a favorite place in the Avondale, Ortega or Riverside neighborhoods that you’d like me to blog about, please send me a note!
Extra, Extra….Read All About It!
In case you’re wondering who has the latest and greatest news — it’s often a realtor who specializes in your local area market. I often know about a house that’s getting ready to come on the market, a house whose price is getting ready to be reduced or about programs that lenders are getting ready to roll out that could save you a lot of money.
You might say that I have a lot of insider information. So…if you’re the kind of person who likes to know about it before it happens, then give me a call and I’ll be certain that as soon as I know it, you will too!
If you’re a loyal reader of mine (which I hope you are!) then you’ll know that I specialize in the Avondale, Ortega and Riverside neighborhoods of Jacksonville. Please join me for my next adventure in these very special neighborhoods of Jacksonville!
FORECLOSURE at 1661 Riverside – A Great Buy!
I noticed a great buy (Foreclosure) on a condo at 1661 Riverside today so I ran (actually, I drove) over to have a look. It’s a 3BR/2BA unit on the 2nd floor (Unit 201) and has a large balcony. The unit faces May Street and has a great view of Memorial Park but because it’s only on the second floor, you can only see a few slivers of the St. John’s river here and there.
1661 Riverside is an urban loft like building featuring polished concrete floors and tall ceilings with exposed duct work. The building has a total of 90 units (mostly condos with a few townhouses that have private entrances on May street) and is located in the heart of Riverside which is a vibrant walking neighborhood in Jacksonville with lots of great eateries like Zoe’s, Al’s Pizza and Moss Fire Grill. There’s also a Starbucks and a great Publix that has lots of fresh and prepared foods.
Because the building was finished just as the real estate market began to turn South, many of the units have been sold as short sales and there have been a few foreclosures. This particular unit was purchased for $470,000 and the owner had put down a $90K deposit. Just two years later, it’s now being sold for approximately half ($249K) of the original sale price! That’s a big drop in just two years. To see the few photos that were posted on unit #201 at 1661 Riverside, click here. Like many foreclosures, the unit has been stripped of all appliances and even the air handler has been taken!
Thanks for reading — If you’d like to made aware of other great deals in the Avondale, Ortega and Riverside neighborhoods, please subscribe and be the first to know as it happens!
Monday Morning Market Report – Week Ending 10/18/2009
The statistics for the week ending October 18th, 2009 appear startling at first glance but after a second look, I discovered something important. Out of the 19 New Listings, 6 were in one condo building located at 2064 Herschel Street. That accounts for 31% of this week’s new listings. Pending sales are also WAY UP from last week.
New Listings – 19
Price Reductions – 8
Pending Sales – 6
Closed Sales – 2
So while it seems that there were LOTS of new listings this week (which technically there were) when you know that a developer re-listed so many units all at once, it gives you a different persepctive.
The Chelsea Lofts were built in 2007 around the same time as 1661 Riverside. Both buildings are loft style units and were attempts to ride the wave of the re-developement of the Riverside shopping district and the urban market with exposed duct work, concrete floors, open floor plans (very few walls) and tall ceilings. The saying goes that “timing is everything” and clearly, the Chelsea Lofts was a victim of bad timing. Just as the building neared completion, the decline of the real estate market had begun. The units have been re-listed by a new realtor but at the same price as the previous listing. They are bank approved short sale which means that the agonizing wait that you often experience with short sales is not necessary and closings can be immediate. If you’d like to see one of these units, please let me know!
There is one new listing that I think deserves special attention. Located at 2764 Myra Street, this NEW construction bungalow was built by RADO (Riverside Avondale Development Organization) and is priced at only $138K or $$104 per square foot. This home is part of the Head Start to Home Ownership Program and there are income limits for buyers for this house. Attached are the income guidelines for the RADO program. If you know someone in need of a home who isn’t a high wage earner, this seems like an incredible opportunity!
On the other end of the spectrum, there is a very beautiful hou
se located close to Timuquana Country Club at 5509 Fair Lane Drive. The house appears to be a “ranch” from the outside, but step through the front door and you are greeted by the most amazing soaring ceilings and huge fireplace. It’s really dramatic. The house is nearly 4,000 SF and on nearly an acre of land that also has lovely outdoor entertaining areas. Walk across the street to play golf, tennis or swim in the gorgeous riverside swimming pool – membership to the club is required! The house is priced at $1,295,000.
There were two foreclosures listed this week:
2866 Sydney Street priced at $194,900 (MLS # 506199) – Darling Bungalow with some nice updates
969 Cherry Street priced at $169,900 (MLS # 506178) – Haven’t seen this one inside. I did drive by and it appears to need a good bit of work.
That’s the news for this Monday – thanks for reading. Join me for another Avondale, Ortega or Riverside adventure and keep up with what’s going on in our great neighborhood by subscribing to our blog!
Monday Morning Market Report – Week Ending 10/11/09
Well, it’s Monday evening — not morning! Sorry I’m a bit late with my weekly report but here are the stats. For the week ending 10/11/09, there were
New Listings – 10
Closed Sales – 2
Pending Sales – 1
Price Changes – 15
As I study the data, two things “jump” out at me — the (note the word “the” – there’s only one this week) pending sale is a beautifully renovated two story home on College street complete with two car garage, gas cook top in the center island and steam shower. The sellers paid $410K for it in Jan. 2007 and then did a master bath renovation.
A year and a half later in July 08, they put it on the market at $449K and left it there for a year until it expired. Then, in Sept. 09, they put it on the market for $330K ($80K less than they paid + renovations) as a short sale. The asking price was only $119 per square foot — a real deal — which is what today’s buyers are looking for. End of the story? It went under contract in less than a month! Stay tuned to see what the final sales price was!
The other transaction that popped out at me was a closed sale on 1389 Belvedere in Avondale. It was also a distressed sale and was a two story brick 4br/2ba with 2,190 square feet. It was purchased for $320K in Nov. 2004. There is no “interim” history, so we don’t know when the property fell into arrears but the bank took title to the property on 8/14/09, the property was listed for $257,900 on 8/20/09 and it was sold on 10/06/09 for $253,000 with a $10,000 contribution from the seller for closing costs and prepaids. This equates to a net selling price of $243K or $113 per square foot — and the house had a nice kitchen.
So….the moral of the story seems to be: Distressed Property in Good Condition + Low Price = Quick Sale!
Be sure to take note of the consistently high number of Price Reductions. In the past 3 weeks that I’ve studied/provided market statistics for the Avondale, Ortega and Riverside markets, there were 12 price reductions the first week, 19 the second week and 15 this week. That’s a lot of price reductions! We see over and over again that when a property gets reduced enough and hits the “magic” number proving itself to be a tremendous value, buyers take note and there is generally an offer shortly thereafter.
Thanks for reading! Have a great week.
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