JUST LISTED (and Under Contract)! 1734 Challen Avenue, Jacksonville, FL 32205

1734 Challen Avenue, Jacksonville, FL - Historic Avondale
1734 Challen Avenue, Jacksonville, FL – Historic Avondale
1734 Challen Avenue, Jacksonville, FL – Historic Avondale

It’s not often that I get the chance to list a great home like 1734 Challen Avenue and….the buyers thought so too — because they put it under contract in only 11 days! Loaded with natural light, this 1921 home has 2,326 square feet, a beautiful barrel tile roof, tall ceilings, gleaming hardwood floors and an IDEAL location within walking distance to shops and restaurants of Historic Avondale. Click here to see lots of great pictures for this beautiful home. Listed for $485,000, MLS # 785677.

If you’re considering selling, there were lots of buyers interested in this home who didn’t act quickly enough! Call me for a FREE market analysis of your home at 904-252-5181.

4697 Nottingham Road, Jacksonville, FL – UNDER CONTRACT in Less Than 30 Days!

Listed and SOLD in less than 30 Days in Ortega Forest, Jacksonville
4697 Nottingham Road, Ortega Forest          UNDER CONTRACT in less than 30 days!         SOLD for $482,000 (97.5%) of the asking price!
4697 Nottingham Road - Gourmet Kitchen
4697 Nottingham Road – Ortega Forest Jacksonville, FL                                                  Gourmet Kitchen

This gorgeous 4BR/3BA pool home with 3,810 SF in the desirable neighborhood of Ortega Forest went UNDER CONTRACT in less than 30 days!

Listed on 4/25/15, the house went under contract by 5/20/15 and closed on 7/14/15 for $482,000 which was 97.5% of the asking price! The house had a stunning gourmet kitchen, gleaming hardwood floors and a sparkling pool on a large corner lot. Call me at 904-252-5181 for a FREE market evaluation of your home today and let’s get your house sold too!

 

Another $700K + house goes under contract in Ortega

Increasing sales in the $500K - $1M price Range in Avondale, Ortega and Riverside
Increasing sales in the $500K - $1M price Range in Avondale, Ortega and Riverside

The $500 – $1M price point for non-waterfront homes has been hit hard over the last few years in the Avondale, Ortega and Riverside neighborhoods of Jacksonville, FL but it looks like we’re seeing something of a recovery.

in 2009, there were only 8 sales in this price range.
In 2010, there were also only 8.
In 2011, the number more than doubled to a whopping 18.

A quick look at homes that have either sold this year (or are under contract) reveals that we’ve already hit 8 — and it’s only March 24th!

I did a search to see how many homes are currently still available for sale in this price range and find that there are only 14 — one of them is a townhouse and several others have “issues”. Our inventory of “good” homes (nicely renovated with good floorplans) is in short supply and the demand is increasing.

4973 Arapahoe Avenue, Ortega

Buyers are picky these days. They either want turn key, move-in condition homes or  “fixer uppers” at a steeply discounted prices. Take a look at our fantastic listing located at 4973 Arapahoe Avenue in Ortega. This turn key home was built in 2006, has a great floor plan, is very energy efficient & has a beautiful sparkling pool – just in time for summer!

Our inventory of renovated turn key homes in Avondale, Ortega and Riverside is low and there are lots of buyers out there, so if you’ve been thinking of selling, please give us a call.

Powell Steilberg Team Sells 9 Homes since January 2011 in Avondale and Ortega

sold_sign_house

allison and caro

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”!

Two $500K+ Homes Sell in Avondale!

3585 Richmond Street1913 GreenwoodAfter a VERY quiet year in home sales over $500K in Avondale, there have FINALLY been a few sales in this price range. In the last couple of weeks,  1913 Greenwood closed for $ 586,750K and 3585 Richmond Street closed for $576K. The Richmond Street listing was with Ellen Walters of the Fred Miller Group and David Butler of Watson brought the buyers. With these two sales, the neighborhood will now have some “comps” (comparable sales) that appraisers can use and we hope that the landslide in prices has stopped.  The price per square foot for these two sales was $232 and $229 respectively. The lot size of the two properties was similar.

Both of these homes were 3br/2.5ba homes with approx. 2,500 square feet. Both had garages and both had guest houses above the garage. The guest house on Greenwood was apparently in orginal condition and the one on Richmond street had some minor upgrades.

2nd exterior front
1837 Ingleside - At only $219 per square foot it's a DEAL!

We’ve got a fantastic listing on Ingleside Avenue that has 3br/2.5ba with lots of upgrades — so if you happen to have “missed out” on either one of the houses mentioned above and are still looking, please give us a call. At $644K and 2,940 square feet, our asking price is $219psf  AND our guest house and garage are NEW! The two most recent sales were at $229 and $232 per square foot.

Thanks for reading! If you’d like to get the latest and greatest about what’s going on in with real estate in Avondale, Ortega and Riverside, please give us a call! We’d love to help you find or sell a home in the neighborhood!

13 (1), 21 (1), 16 (1), 25 (2), 15 (3) and Counting!

lottery ticketAs 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.

Thanks for reading — if you’re hungry for information about the state of real estate in Avondale, Ortega and Riverside — this is the place to get it! Subscribe to my blog and my posts will arrive (magically) in your inbox!

Jacksonville, FL Alert! Dramatic Drop In Inventory of Homes Priced from $250K – $500K!

good_news_picGreat News! If you live in Jacksonville and have a home to sell that’s valued somewhere between $250K and $500K, you’re in luck.

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!

Thanks for reading! For the state of real estate in the Avondale, Ortega and Riverside neighborhoods, subscribe to our blog and you’ll be the first to know about what’s going on!

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!

Monday Morning Market Update – Week Ending January 3rd, 2010

January 3rd
Click Here to See Graph

Good Morning Everyone! Happy New Year. Hope this post finds you ready for a great 2010!

The market stats this week show a continued trend for fewer new listings as well as continued strength with pending and closed sales — good news!

The more weeks we can string together like this the better. Fewer new listings + more closed sales = a recovering market. As inventory decreases, there is more demand and less supply which will help stabilize the market.

Please read below for the highlights of the week.

 

The weekly stats are:
New Listings =  5  (One of these is a re-list so there are really only 4 New Listings)  (Click Here to see List)
Active/Contingent = 0  (Click Here to See List)
Pending =  6   (Click Here to See List)
Closed Sales = 7  (Click Here to See List)
Price Reductions =  5  (Click Here to See List)

3692 Hollingsworth Kitchen
3692 Holligsworth - Kitchen

The Listing of the Week is a darling 3Br/2Ba bungalow in Avondale on Hollingsworth. Totally renovated with a new kitchen, new master suite, gleaming hardwoood floors and a one car garage, this house is priced at only $134 per square foot!

A thorough review of price changes doesn’t reveal anything worth shouting out about so that’s a wrap for this week.

Thanks for reading. I look forward to sharing the great real estate news of 2010 that many are expecting in Avondale, Ortega and Riverside!

Monday Morning Market Update – Week Ending November 29th, 2009

Click Here to See Graph
Click Here to See Graph

Good Morning Everyone – Hope you had a Happy Thanksgiving!

The market statistics this week reveal 9 new listings. Several of the “new” listings this week are re-lists and oddly, one of them was actually re-listed at a HIGHER price. Hmmm……Not sure that this is a good strategy in a declining market.

Being able to see the “history” of a listing is immensely valuable. It lets you know what a person paid for the property, when they bought it, how many times it’s been listed for sale and what the various prices it’s been offered at have been. This is one of the many benefits that you get by working with a realtor.

Take the “new” listing located at 1776 Canterbury for example. It was posted with no photograph. I went to the history tab (a benefit that realtors have at their fingertips) to see what had been going on with this property. Guess what I found? The property has been listed on and off since June 2006 and originally started at $1,495,000! The “new” list price is $749K — Wow — that’s a $746,000 reduction – amazing. The house is zoned for either commercial (office space) or residential and has most recently been used as an office. I would include a link to the property so you could see all about it, but there’s no photo (I plan to write a post about that tomorrow) so it’s hard to know what you’re looking at.

One of the two pending sales is a house I wrote about in my blog about the Goal Post Sandwich Shop. Located just down the street from there, the house is a darling 3br/2ba home with a one car garage on a nice street – I felt it was a good opportunity and would sell quickly. I was right — it was on the market only 42 days before securing an offer.

Out of the 5 closings, three were bank foreclosures at VERY LOW prices (under $100K).

There’s been a nice price reduction on Woodmere Road in Fairfax Manor. Fairfax Manor is a little pocket of homes situated between Herschel and Woodmere streets and is between the neighborhoods of Avondale and Ortega. This little brick bungalow has 3 bedrooms but only one bath which is why I suspect it’s been a hard sell. Now priced at only $176 per square foot, it should attract someone’s attention that’s willing to add a second bath! To see the details of this house, click here.

None of the other price changes jump out at me at great opportunities so that’s a wrap for this week’s report.

Thanks for reading, please join me for my next report on the state of the real estate market in Avondale, Ortega and Riverside!