Jacksonville Real Estate Weekly Market Update – Week Ending January 31, 2010

Sales Graph - Week Ending Jan. 31st 2010Today wraps up the first full month in 2010 — there were lots of new listings this week (15 of them). A few are really outstanding and worth “shouting out” about. I wrote a blog yesterday about 3248 Riverside Avenue. It’s beautifully done, in a fantastic part of Avondale and VERY fairly priced at $194 per square foot. The last comparable house that sold in the neighborhood was a short sale on Elizabeth Place that sold for around $180 per square foot.

At the lower end, there are a few listings worth highlighting. One is at 2804 Herschel Street (priced at $199K) which is the “quiet” part of Herschel near the Park and King Street business district. You can walk to many shops and restaurants from this house including Whiteway Deli (super sandwiches and salads) and The Cool Moose (great Sunday brunch). It’s a short sale.

The other one is a cute house at 1729 Pine Grove. There’s only one picture posted so far, but the house has some updates including new windows,  a re-configured master bedroom, nice curb appeal and an inground swimming pool. It’s within walking distance to the park. Priced at $225K, it should be attractive to the first time homebuyer market.

One house was put under contract 3029 Riverside. It’s a short sale and has been very nicely renovated. Three other houses went into pending status which means that all contingencies have been satisfied and closing will come soon.

Price reductions range from a $10K reduction 1t 1340 Challen to a $100K reduction at 1769 Glendale Avenue. That’s it for the week!

To see the all new listings for the week ending 1/31/2010 in Avondale, Ortega and Riverside, click here.

To see all the pending sales for the week ending 1/31/2010 in Avondale, Ortega and Riverside, click here.

To see all the closed sales for the week ending 1/31/2010 in Avondale, Ortega and Riverside, click here.

To see the price reductions for the week ending 1/31/2010 in Avondale, Ortega and Riverside, click here.

If you are looking for something specific, please let us know! We love to be “on the hunt” and will work like no other to find you the special place you’re looking for!

3248 Riverside Avenue – A FABULOUS New Listing in Jacksonville, FL!

3248 Riverside Avenue - WOW!
3248 Riverside Avenue - WOW!

JUST LISTED! As I reviewed the new listings for the day, this one literally jumped off the page at me. It’s a WOW house at a WOW price.  If you’re even THINKING of moving, please call me. The house is located at 3248 Riverside Avenue and is just beautiful. It has everything today’s buyer wants and needs — open kitchen, family room, lots of light, gracious master suite and fabulous master bath. Take a look and see for yourself — it’s a must see. 

Open Kitchen with Center Island
Open Kitchen with Center Island

Oh, and it’s PRICED TO SELL. With over 4,500 square feet, it’s list price is under $200 per square foot — very fair. I’d love to show it to you — please call me to schedule an appointment. Thanks!

Spacious and Serene Master Suite
Spacious and Serene Master Suite

13 Houses in Jacksonville UNDER $100 per Square Foot

Deal On Donald Street
Deal On Donald Street

If you’re out there looking for great deals in the Jacksonville real estate market, I’ve identified a few that could be just what you’re looking for.  Many of them are either short sales or foreclosures but there are a few on the list that are “normal” transactions. Short sales can be difficult because banks take so long to make a decison — you can be left hanging for months and months and then never even get the house afterall. Foreclosures are better because the bank already owns the property and is better positioned to dispose of the property. Best of all, are properties that are still owned by the seller. If a house is priced well and not distressed, it should be an easy transaction — when you see one of these, you should jump on it!

The houses on this list are priced from $97K to $389K and they range in condition from totally renovated to in need of some serious tender loving care. The thing that makes them stand out is that they’re priced either at or just below $100.00 per square foot!

Take a look at the list of these great deals and if you see something that might work for you, please give me a call!

Thanks for reading, if you’re looking for great deals in Avondale, Ortega or Riverside, consult with a specialist in the area — me!

Two More “Upper End” Homes Go Under Contract

3029 Riverside Avenue
3029 Riverside Avenue

Our office is crackling with activity — it seems as if after the long dull winter that people are waking up, brushing the dust off their shoulders and saying, Hey – maybe I better get out there and start looking for a house!

1520 Avondale Avenue
1520 Avondale Avenue

Two houses have gone under contract this week that are worth mentioning. The first is at 1520 Avondale Avenue. It was priced just over $500K. It’s a 3BR/3BA house with about 2,700 SF of living space, a 2 Car Garage and tiny little pool. The kitchen had been updated with granite and stainless appliances and there’s a lovely little bricked patio area out back. I called the listing agent of this house to see if the sellers will be staying in the neighborhood but sadly, they are not.

The other house to go under contract is a short sale located at 3029 Riverside Avenue. It’s asking price was $450K.  Because it’s a short sale, this could take a while to close so it’s listed as Active Contingent. The house was purchased for over $600K back in 2006. It’s got nearly 4,000 SF of living space, 3BR and 4BA’s. There is no garage. It’s got a gorgeous new kitchen and beautiful hardwood floors. It was actually under contract to someone else first but the deal fell apart and the current buyers swooped in.

I’ll keep watching to see what these two houses close for and how I think these sales will impact values in the neighborhood.

We here at JaxRealEstateFacts.com want to help you snag a great deal. If you’re one of those people out there looking and looking and looking, please call us — we know the area inside and out and will sniff out the deals like a blood hound!

Thanks for reading — call us — we’re standing by ready to help! 904-252-5181

Avondale Open House – Sunday 2-4 pm (1/31/2010)

open house signJoin me this Sunday afternoon at an open house in Avondale from 2pm – 4pm. Located East of St. John’s Avenue on the corner of Ingleside and Pine at 1837 Ingleside Avenue, this fantastic 2 story classic is  really something special. 

1837 Ingelside Avenue
1837 Ingelside Avenue

On a corner lot and filled with natural light, this home has been meticulously maintained with the best of everything. Walk in to a gracious foyer with formal dining room on the left and a formal living room to the right. Rare in an Avondale Historic home, there is a spacious vaulted ceiling family room to the right with built in cabinetry and a large fireplace.

French doors lead from the family room out to a manicured brick terrace that’s perfect for entertaining. New in 2004, there’s a large all brick guest house featuring a living room, bedroom, large walk-in closet and kitchenette. Also new in 2004 there’s an extra large two car garage (also rare in the Historic District of Avondale).

The kitchen features a center island with a five burner gas cook top and separate breakfast room. Come see for yourself — we’d love to give you a tour! Oh, I almost forgot! There’s been a recent price reduction. Now at only $669K, this house represents a real value – don’t miss it!

Thanks for reading. If you’d like more information about this great house in Avondale (or any of the others we have listed) please give us a call!

Monday Morning Market Update – Week Ending January 24th, 2010

week ending jan 24th 2010There’s some pretty exciting news this week! 13 houses were put under contract! To see the full list (with photos, click here). If you’ve been reading my blog, you know that this is a big number – Wow! These 13 transactions are active “contingent” meaning they have to pass inspections or complete financing before the status is changed to pending.

The houses that are selling continue to be at relatively lower price points (although there was one over $500K) but, nonetheless, it shows that the activity is high – Yipee!

If you’ve got a bungalow that you’re thinking of selling in the Avondale neighborhood of Jacksonville, FL, put it on the market! It’s a great time to sell something under $300K.

1427 Pine Grove
1427 Pine Grove

My two favorite new listings are 1427 Pine Grove Avenue which needs a little updating but the location is good and it’s got good space. The other one is at 1523 Pershing Road and it’s already had some updating. Again, it’s a nice location. Take a look at a few pictures here.

1523 Pershing Road
1523 Pershing Road

To see the closed sales in the past week in Jacksonville, FL click here.
To see the new listings of the week in Avondale, Ortega and Riverside, click here.
To see the newest list of price reductions in Jacksonville, FL click here.

Thanks for reading, please join me next week to keep up with the latest real estate news in the neighborhoods of Avondale, Ortega and Riverside in Jacksonville, FL.

9 Homes SOLD In Less Than 30 Days!Jacksonville,FL

for sale sold sign

When you hear that the real estate market is slow — think again. This list of 9 homes have either been put under contract or sold within 30 days of being listed and have all occured within the last 90 days.

Note that all of the sales are under $350K. This is considered the “first time homebuyer” market and it’s been driving the real estate market since the first time homebuyer tax credit was introduced (and then expanded).

You will note that there are a mix of “normal” and “distressed” sales. The conditon of the homes range from totally unrenovated to completely renovated.

To see photos of the houses that sold in 30 days or less, click here.

Thanks for reading — if you’re looking for a great deal in the neighborhoods of Avondale, Ortega or Riverside, call Allison Steilberg or Caroline Powell today!

Demolition Permit Granted!

CIMG1222My partner, Caroline Powell and I have a listing at 3629 Richmond Street ($359,000) that’s listed on the register of historic homes by the city of Jacksonville. For those of you reading this who live in Avondale, you know that the Jacksonville Historic Commission and RAP (Riverside Avondale Preservation) have very strict guidelines about what type of repairs/renovations can be made to a property and also very strict guidelines about demolishing property in the historic district.

We advised the owner of the house when we took the listing that his property is worth more as a buildable lot than with the house on it and suggested that he look into permission to have the structure torn down.

The significant issue with the existing structure is that it abuts the rear property line — the house literally sits just a few feet from the rear property line. The photo makes the house look like it has more promise than it really does. The interior would need signifcant updating and it has a bad floor plan that would be difficult to address. Even if someone was willing to take the time and money to renovate the house, you’d still be left with the fact that the house abuts the rear property line.

Caroline and I attended the Historic Commission Meeting on December 9th, 2009 and spoke on behalf of the owner who is ill and could not attend. To our surprise, permission was granted to have the structure torn down.

A purchaser of this property is not REQUIRED to tear this house down. They could build a “main” house in front of it and retain the structure that’s there as a guest house but if one desires, the option is now available to demolish and rebuild.

Thanks for reading. I’d love to share my local area real estate knowledge of Jacksonville with you, so please subscribe if you’d like to know more about Avondale, Ortega or Riverside.

Warning – Interest Rates Will Rise in 2010!

interest_ratesWe had our annual sales meeting at Berkshire Hathaway HomeServices Florida Network Realty yesterday and after the awards and the “rah rah sis boom bah” part, we had an economist, Dr. Henry Fishkind, deliver the keynote address.

He talked about a lot of things including the fact that Jacksonville is much better positioned for a recovery than many other parts of Florida.

A word of warning, however, is that beginning mid-year this year, interest rates will begin to rise and will continue their march up for some time to come. So, if you’re looking for homes for sale in Jacksonville (particularly if you’re a first time buyer), now is the time to jump in while prices and interest rates are still at historic lows — there could not be a better time and it will not last.

Thanks for reading, please join me for my next discussion of the real estate market in Avondale, Ortega and Riverside.

Monday Morning Market Report – Week Ending Jan. 17th, 2010

week ending jan 17thWell, folks, the story of the week once again is price reductions! There were 27 (did you see that?) 27 of them! There have also been some very quick sales (gone in a day type of sales) that I’m going to write a separate blog about. Two of the sales that closed this week were homes that I blogged about being great deals — so if you follow me, you’ll be the first to know about great deals and you can be the one to snap them up!

There were two homes put under contract this week (active contingent) which means that once inspections are completed, the status will change to pending.

There were 4 homes that moved into Pending Status (this means that inspections and financing contingencies have been met) and the sale will proceed to closing shortly. One of the was at 3692 Hollingsworth that received an offer only days after being placed on the market and another was at 1358 Challen which has languished on the market for over 200 days. The house on Hollingsworth had been beautifully updated with a new luxury master suite and the house on Challen was vacant and needed some “love”.

Thanks for reading! If you’re interested in what’s going on in the market, please give me a call — I’d love to share my local area knowledge with you.