This is such a great article and so pertinent to today's market, I had to share
Thursday, June 21, 2012
Thursday, June 14, 2012
Some Cool Stuff Happening Intown Jacksonville
Go Skate Day in Hemming Plaza
(A Benefit for the KONA School)
Thursday June 21 5pm-9pm
In Hemming Plaza
PB&J and KONA Skate Park are teaming up to bring Go Skate Day to Hemming Plaza in downtown Jacksonville, raising awareness and funds for the Kona School www.konaschool.org
Join us for an evening of skate competitions by professional skaters, roller derby girls, bands, an art show, chopper show, antique car show, and so much more related to extreme sports.
This is the first time that a city has granted permission to skate its urban areas for Go Skate Day. Be a part of history.
Join us for an evening of skate competitions by professional skaters, roller derby girls, bands, an art show, chopper show, antique car show, and so much more related to extreme sports.
This is the first time that a city has granted permission to skate its urban areas for Go Skate Day. Be a part of history.
PRS/Bold City Beer Run 5K Series
Thursday June 28 at 7pm
This is a 5km race series like no other in Jax. This series will be the last Thursday every month starting with the first event on Thursday June 28th, 2012.
The concept is easy, while there will be no chip timing everyone will be timed. We will have age group awards for first place male and female in the 21-29, 30-39, 40-49 with each winner getting a unique beer mug.
The overall male and female winner of the race will each win "the Bold Jug" filled with one of Bold City's Finest.
Every participant pays just $5.00 to enter which includes the race and a cold beverage at race end. Food will be available to purchase and we hope many of you will stay around after your free beer and eat, drink, and get merry!
Unique race shirts will be available for purchase, and I know you all will want to get one of these, for just $25.00. Shirt pictures will be shared on facebook after printing and before the first race.
Invite anyone you chose. This is going to be a fun event and we hope to make this a race series which will continue for a long time.
You can sign up and buy your t-shirt before the race at the link below:
http://www.jax365.com/
The concept is easy, while there will be no chip timing everyone will be timed. We will have age group awards for first place male and female in the 21-29, 30-39, 40-49 with each winner getting a unique beer mug.
The overall male and female winner of the race will each win "the Bold Jug" filled with one of Bold City's Finest.
Every participant pays just $5.00 to enter which includes the race and a cold beverage at race end. Food will be available to purchase and we hope many of you will stay around after your free beer and eat, drink, and get merry!
Unique race shirts will be available for purchase, and I know you all will want to get one of these, for just $25.00. Shirt pictures will be shared on facebook after printing and before the first race.
Invite anyone you chose. This is going to be a fun event and we hope to make this a race series which will continue for a long time.
You can sign up and buy your t-shirt before the race at the link below:
http://www.jax365.com/
Wednesday, June 13, 2012
Home Buying Returning to a More "Traditional" Experience
In many local neighborhoods, real estate markets are transitioning from historic low's to more traditional markets. Home buyers are left wondering how to navigate this emerging more traditional market and if they still have any advantages. The answer is YES - in many markets the buyers still have advantages, but they need to keep some guidelines in mind. Deals can be found but playing hardball with low ball offers that are out of sync with local comparable sales can back fire when multiple offers come in on single properties.
Here are some tips to remember:
1. Know the local markets. Work with an agent that has localized market knowledge and can share that with you. Ask your agent to pull comparable sales and pending listings so that you get a feel for where the market is at. If the market is out of your price range ask your agent to suggest another neighborhood that may have similar qualities you are looking for but maybe more in the range you are comfortable with. This is a much better way to go than trying to low ball sellers in market you really can't afford.
2. Get familiar with your credit report. Work with a loan officer and get pre-approved before even starting the home search - this will cut out many headaches down the road. Most sellers prefer buyers be pre-approved before even looking at their homes and any home you fall in love with and want to make an offer on will need to have a pre-approval letter to submit with the offer. It would be a shame to find the home you love and have to wait a few days to get pre-approved and in the meantime someone else puts the house under contract. Be ready to act and pre-approval with a loan officer really is the first step.
3. Short sales, foreclosures, and rent-to-own should not be ruled out as part of a comprehensive home search. They may take more time and require more financial obligation on the buyers part, but many homes fall into these categories, and ruling them out will narrow your search exponentially.
4. Several local markets are seeing multiple offers on properties, especially in Springfield. Be prepared. You may have to come in over asking price. Cash offers are sometimes seen more favorably than financed offers. This is why knowing your financial situation in advance is helpful. Some local markets, such are Riverside, are seeing less activity right now so multiple offers may not be an issue. Again, know your local market.
5. Try to check your emotions at the door. Hard to do, I know. But this is really a competitive market and you may have to put several offers in on several properties before you are able to come to terms with a seller. The home buying process can take 6 months to a year in this climate.
6. Buyers should be sure to have any offers contingent on a satisfactory home inspection and Wood Destroying Organism (WDO) inspection. Also, be sure to ask for a Seller's Disclosure when you submit your offer.
In summary: there are some great deals to be had, but saavy buyers will be familiar with their local market and be prepared to act accordingly and aggressively. Traffic is up and prices are stabilizing and increasing in many markets so bottomline: be prepared.
Here are some tips to remember:
1. Know the local markets. Work with an agent that has localized market knowledge and can share that with you. Ask your agent to pull comparable sales and pending listings so that you get a feel for where the market is at. If the market is out of your price range ask your agent to suggest another neighborhood that may have similar qualities you are looking for but maybe more in the range you are comfortable with. This is a much better way to go than trying to low ball sellers in market you really can't afford.
2. Get familiar with your credit report. Work with a loan officer and get pre-approved before even starting the home search - this will cut out many headaches down the road. Most sellers prefer buyers be pre-approved before even looking at their homes and any home you fall in love with and want to make an offer on will need to have a pre-approval letter to submit with the offer. It would be a shame to find the home you love and have to wait a few days to get pre-approved and in the meantime someone else puts the house under contract. Be ready to act and pre-approval with a loan officer really is the first step.
3. Short sales, foreclosures, and rent-to-own should not be ruled out as part of a comprehensive home search. They may take more time and require more financial obligation on the buyers part, but many homes fall into these categories, and ruling them out will narrow your search exponentially.
4. Several local markets are seeing multiple offers on properties, especially in Springfield. Be prepared. You may have to come in over asking price. Cash offers are sometimes seen more favorably than financed offers. This is why knowing your financial situation in advance is helpful. Some local markets, such are Riverside, are seeing less activity right now so multiple offers may not be an issue. Again, know your local market.
5. Try to check your emotions at the door. Hard to do, I know. But this is really a competitive market and you may have to put several offers in on several properties before you are able to come to terms with a seller. The home buying process can take 6 months to a year in this climate.
6. Buyers should be sure to have any offers contingent on a satisfactory home inspection and Wood Destroying Organism (WDO) inspection. Also, be sure to ask for a Seller's Disclosure when you submit your offer.
In summary: there are some great deals to be had, but saavy buyers will be familiar with their local market and be prepared to act accordingly and aggressively. Traffic is up and prices are stabilizing and increasing in many markets so bottomline: be prepared.
Tuesday, February 28, 2012
5 Tips for Choosing a Realtor
After 8 years of working in real estate, I've worked with some great agents and some not-so-great agents. Here are 5 tips for finding an agent that will help you navigate your home purchase, instead of causing you headaches.
1. Ask around. The first place to start looking for a buyer's agent is by asking friends and family. Did they like their agent? How was their experience? Recommendations are a good place to start, but don't feel pressured to use a referral either. Go through the rest of the tips before deciding.
2. Check credentials. Is their license current or are there any complaints registered about them? Do they have advanced accreditation, such as ABR (Accredited Buyer's Representative) or CRS (Certified Residential Specialist), or are they members of their local real estate board or the National Association of REALTORS®? Designations aren't everything, but they do show commitment to the profession. Don't hesitate to ask to see their sales volume or references. An agent who is active and recommended must be doing something right.
3. Have a trial period. If he or she doesn't mention it first, ask to sign a buyer's contract for the day so that you can see how you work together. Think of it as dating — you didn't marry the first person who asked you to dinner. Did the agent understand what you were looking for and is that represented in the day's showings? They'll get paid if you decide to purchase any of the properties they show you, and you're not stuck with them if you can't stand to be in the same car by the end of the day.
4. Trust your gut. If after your day out with your potential agent, something doesn't feel right, listen to your intuition. You should like your agent and know that they have your best interests in mind. You could be working with them for a year or more, so if there's a personality clash or a trust issue, find someone else.
5. Sign a contract. A buyer representative contract protects both you and your agent. If you don't have a contract, your real estate agent is legally a facilitator of the transaction and doesn't represent your interests. The buyer fee is always paid by the seller, anyway, so it doesn't cost you any money to use a buyer's agent.
Hopefully these tips help your real estate transaction go smoothly. Happy house hunting!
How did you find your real estate agent? What tips would you add?
Tuesday, February 21, 2012
Simple Inexpensive Touches to Make Your Home Stand Out on the Market
If you are trying to sell your home in this market then you know the competition is tough. There are short sales and foreclosures galore - all competing with you for a handful of buyers.
What can you do to stand out? Buyers in this market are looking for the best deal. That means your property really has to look its best to attract buyers who would be willing to pay a little more because they feel like they are really getting a better product.
Here are some inexpensive things you can do to make your property stand out:
1. Lighting. Make sure rooms are well lit. Get higher wattage bulbs if possible. Make sure all the lights work. I can't tell you how many times I walk into a home with a buyer and the lights don't work. Gloomy spaces don't make buyers want to hang around.
2. De-clutter. Get rid othe clutter and personal trinkets. Remember you are trying to sell the house. People need to see the space and feel themselves in that space. If a space has too much stuff in it or has family pictures that make it seem like someone else's space, they can't picture themselves in the home.
3. Freshen up the paint. Neutral, natural tones. This is especially true in kids rooms. Don't show the house with kids colors in the kids rooms. Buyers will not pay top dollar for a house Also, take a look at your trim - does it need touching up too. Also, look at the exterior. Does the siding need freshening up. What about the front door? Does it stand out and look inviting? These are small paint jobs that can make the home present really well.
4. Smells. If you have pets, especially. Invest in some room deodorizers. Bueyrs want to feel like a home is fresh, not stale. Try to air your home out some as we enter spring. Also, if your house is going to be shown that day, try not to cook anything whose smell may linger during the showing.
What can you do to stand out? Buyers in this market are looking for the best deal. That means your property really has to look its best to attract buyers who would be willing to pay a little more because they feel like they are really getting a better product.
Here are some inexpensive things you can do to make your property stand out:
1. Lighting. Make sure rooms are well lit. Get higher wattage bulbs if possible. Make sure all the lights work. I can't tell you how many times I walk into a home with a buyer and the lights don't work. Gloomy spaces don't make buyers want to hang around.
2. De-clutter. Get rid othe clutter and personal trinkets. Remember you are trying to sell the house. People need to see the space and feel themselves in that space. If a space has too much stuff in it or has family pictures that make it seem like someone else's space, they can't picture themselves in the home.
3. Freshen up the paint. Neutral, natural tones. This is especially true in kids rooms. Don't show the house with kids colors in the kids rooms. Buyers will not pay top dollar for a house Also, take a look at your trim - does it need touching up too. Also, look at the exterior. Does the siding need freshening up. What about the front door? Does it stand out and look inviting? These are small paint jobs that can make the home present really well.
4. Smells. If you have pets, especially. Invest in some room deodorizers. Bueyrs want to feel like a home is fresh, not stale. Try to air your home out some as we enter spring. Also, if your house is going to be shown that day, try not to cook anything whose smell may linger during the showing.
Saturday, December 31, 2011
National Real Estate Trends and How They will Affect Our Local Markets
2012 seems to be bringing a much more stable real estate market. Prices are low and will continue to be low, and demand is there. This all leads to market trends emerging and those trends seem to pointing in the direction that markets will develop for many years to come.
The financial markets have made it more difficult to obtain financing, which means more money down, making homeownership more difficult for working families, singles, and first time home buyers. The new generation of home buyers is lookig at small-scale, affordable, walkable, urban communities. This is at the same time that baby-boomers are looking to down-size and also move to smaller scale, and more walkable communities. Both groups of buyers want smaller, higher quality, lower-maintenance homes in settings in which they easily know their neighbors.
This trend is evident in the direction that many developers and architects are taking as they design new developments. The communities are higher-quality and walkable with housing that requires less maintenace and is more energy efficient.
The dialoge of smart growth and issues around food supply and organic gardening are collectivley pushing toward these unique projects that orient toward collective parkspace or a shared garden with walkablity and community as key elements.
How will these trends affect Jacksonville's local markets? Outside of the urban core, new developments will be smaller and designed to mimic properties of urban core development: walkablity, park and shared garden space, small-scale. Many of Jacksonville's intown communities were developed prior to the automobile and are already walkable with parkland woven in. Community gardens have been popping up and will continue. There is also a srong push for urban ag policies, which many cities have already adopted. Buyer demand will remain strong here as long as affordablity remains low. The interest in energy-efficiency will continue to grow and could give certain properties an edge, as long as costs remain reasonable too (building green and building smart are often the same thing and can save a lot of money).
Looking to the future, our intown neighborhoods can only grow stronger if we push our communities to develop more progressive policies toward sustainable development, supporting local food movements, and to remain affordable with mixed use. This is what the next several years of buyers want and we can provide that.
The financial markets have made it more difficult to obtain financing, which means more money down, making homeownership more difficult for working families, singles, and first time home buyers. The new generation of home buyers is lookig at small-scale, affordable, walkable, urban communities. This is at the same time that baby-boomers are looking to down-size and also move to smaller scale, and more walkable communities. Both groups of buyers want smaller, higher quality, lower-maintenance homes in settings in which they easily know their neighbors.
This trend is evident in the direction that many developers and architects are taking as they design new developments. The communities are higher-quality and walkable with housing that requires less maintenace and is more energy efficient.
The dialoge of smart growth and issues around food supply and organic gardening are collectivley pushing toward these unique projects that orient toward collective parkspace or a shared garden with walkablity and community as key elements.
How will these trends affect Jacksonville's local markets? Outside of the urban core, new developments will be smaller and designed to mimic properties of urban core development: walkablity, park and shared garden space, small-scale. Many of Jacksonville's intown communities were developed prior to the automobile and are already walkable with parkland woven in. Community gardens have been popping up and will continue. There is also a srong push for urban ag policies, which many cities have already adopted. Buyer demand will remain strong here as long as affordablity remains low. The interest in energy-efficiency will continue to grow and could give certain properties an edge, as long as costs remain reasonable too (building green and building smart are often the same thing and can save a lot of money).
Looking to the future, our intown neighborhoods can only grow stronger if we push our communities to develop more progressive policies toward sustainable development, supporting local food movements, and to remain affordable with mixed use. This is what the next several years of buyers want and we can provide that.
Thursday, December 29, 2011
First House in Jax to Receive Mothballing COA OPEN HOUSE
The legislation that created a Mothballing COA is a huge win for Jacksonville's historic districts. The COA allows owners a way to properly board and secure vacant homes that they cannot afford to renovate at this time. If properly boarded and secured, these homes can last many years until the market comes back.
Previously code enforcement was declaring these structures unsafe and having them torn down - yes, in National Historic Districts. Many of these homes were not structurally unsound as code enforcement claimed and many engineers were brought in to counter code enforcements claims (code enforcement officers are not engineers).
The house on Walnut was structurally sound. In fact the owner was meticulously restoring it. He salvaged all the doors and had taken the house down to the studs and removed ALL the nails - NOT an easy task as wood that old tends to begin petirfying. He had taken all the trim off and marked each one so that he could put it back in the right spot. This attention to detail isn't something that can de done overnight and code had given him half a mil. in fines. Restoring the house no longer made economic sense and code was going to force him to have the house torn down - even though it was in a National Historic District and structually sound.
So, he donated the house. The new owners applied for the first mothballing COA under the new legislation. They are going to hold an open house on January 8, from 3-4:40. Please stop by, the house in on Walnut Court. Just off of Walnut Street between 7th and 8th. There will be wine and cheese and you can take a look at what one of these old beauties looks like inside when it is well cared for and before it has been renovated.
Previously code enforcement was declaring these structures unsafe and having them torn down - yes, in National Historic Districts. Many of these homes were not structurally unsound as code enforcement claimed and many engineers were brought in to counter code enforcements claims (code enforcement officers are not engineers).
The house on Walnut was structurally sound. In fact the owner was meticulously restoring it. He salvaged all the doors and had taken the house down to the studs and removed ALL the nails - NOT an easy task as wood that old tends to begin petirfying. He had taken all the trim off and marked each one so that he could put it back in the right spot. This attention to detail isn't something that can de done overnight and code had given him half a mil. in fines. Restoring the house no longer made economic sense and code was going to force him to have the house torn down - even though it was in a National Historic District and structually sound.
So, he donated the house. The new owners applied for the first mothballing COA under the new legislation. They are going to hold an open house on January 8, from 3-4:40. Please stop by, the house in on Walnut Court. Just off of Walnut Street between 7th and 8th. There will be wine and cheese and you can take a look at what one of these old beauties looks like inside when it is well cared for and before it has been renovated.
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