Just a reminder that our next open house will be this Saturday, July 11th from noon until 2pm at 213 Charlemagne Circle in Ponte Vedra Beach. This home is a three bedroom, two bath updated full stucco home east of A1A listed for $249,000. For more information please visit www.jaxopenhouses.com.
July 9, 2009
June 19, 2009
I Wear Your Shirt
Saturday’s promotion on IWearYourShirt. com will feature Phyllis Staines and RE/MAX Coastal Real Estate. Check out his website and don’t forget to stop by our open house in Queens Habour Yacht and Country Club from 12 until 2pm. Visit www.jaxopenhouses.com for more info.
June 9, 2009
Is The Worst Over?
According to the National Association of Realtors, pending home sales jumped by 6.7 percent in April. That was the third straight month of significant increases, and the highest pending sale total for any month in the past seven years. While alot of this was attributed to the sale of foreclosures and short sales, you can’t ignore the numbers…buyers are buying. In cities across the country, home sales are improving. In Las Vegas, one of the cities hardest hit by the housing bust, home sales rose 36 percent in April, the highest increase in over two years. And what happens in Vegas, doesn’t stay in Vegas…it’s just a matter of time before Jacksonville is seeing similar gains. But all this activity comes at a price. Interest rates jumped almost one point in the last two weeks which is the biggest rise in interest rates since 2008. So if you’re thinking about making a move, now may be the time.
June 1, 2009
Good Housing News
The $8000 tax credit that was announced as part of the President’s American Recovery and Reinvestment Act can now be used towards your down payment. Eligible buyers include those who have not owned a home three years prior to their purchase and who purchase a single family residence that will be used as a primary residence between January 1, 2009 and December 1, 2009. This includes condos, townhomes, co-ops and single family homes. So whether you get a mortgage or pay cash, the tax credit will still apply as long as you meet the income and eligibility requirements.
March 21, 2009
Attention Home Buyers
The $8000 tax credit that was announced as part of the President’s American Recovery and Reinvestment Act is now in effect. It applies to any first time homebuyer or buyer who has not owned a home three years prior to their purchase and who purchases a single family residence that will be used as a primary residence between January 1, 2009 and December 1, 2009. This includes condos, townhomes, co-ops and single family homes. So whether you get a mortgage or pay cash, the tax credit will still apply as long as you meet the income and eligibility requirements.
February 20, 2009
The Numbers Are In
Curious to find out how your part of town did in last year’s real estate market? The yearend summary report for real estate sales is now available free of charge. Just visit http://nefar.com/viewPDF.php?cs=350. This report is published by our Northeast Florida Association of Realtors and is very detailed with sales broken down by area of town, days on market, etc. The 40 plus page report is provided monthly and is a great tool to use if you are in the market to buy or sell real estate in our area.
February 7, 2009
Homestead Exemption
If you purchased a Florida property in 2008 as your owner occupied, primary residence, you are eligible for the homestead exemption as long as that property is your permanent home as of January 1st. This means you will receive a tax-saving exemption on the first $50,000 of assessed value (as determined by the County Property Appraiser) which will result in a significant savings in your annual tax bill. You have until March 2nd, 2009 to file so don’t wait…the deadline is approaching fast!
January 27, 2009
Just Six Months Left
Just a reminder that you only have until July 1, 2009 to take advantage of the $7500 first time homebuyer tax credit which is part of the Housing and Economic Recovery Act. Home buyers who have never owned a home or who have not owned a home within the past three years are eligible. With interest rates averaging at 5 percent, there has never been a better time to buy a home!
January 19, 2009
How Low Will They Go?
Interest rates for a 30 year fixed mortgage are averaging about 5% and may even go lower. The Federal Reserve Board cut it’s key interest rate to a “target range” of 0 percent to .25 percent back in December. Additionally, the Fed stated that interest rates will probably remain low for some time to come. So what does this mean for you? If you are in the market to purchase a home and have good credit, 2009 may be the best year on record to buy. And if you are an existing homeowner, you may want to think about re-financing. Although rates for re-financing may not be as low as those for purchasers, they are still at record lows.
January 13, 2009
Buying or Selling a Condo?
It is becoming more and more difficult to secure financing for condos in Florida. Fannie Mae just recently tightened their lending restrictions in which they are requiring higher loan to value ratios and have increased their mandate that requires a minimum of 70 percent of the units be owner occupied. This is up from the previous 51 percent. Additionally, no more than 15 percent of units can be 30 days or more past due on HOA payments. Thus, if you have a condo to sell, or are thinking about buying a condo, the first thing you should do is speak with the condo’s management company to get answers to the above issues. If the development has a significant amount of rentals, vacant units, or units in foreclosure, then it may be difficult for a new buyer to secure financing.
