, Durbin Crossing
to the south, even at the beaches
with developments like Paradise Key
, new home construction is undergoing a sharp upward curve. This series is all about three different types of new home construction available: Custom, Spec and Tract homes.
Spec homes. No particular buyer in mind, so typically not a lot of upgrades and eclectic finishes that might turn off the mainstream buyer. But sometimes they're not fully formed yet, and it’s possible to jump in at the right time while they're still under construction, and sneak in a few personal touches of your own.
PRO: They're "off-the-shelf" ready, and many of us just hate to wait. And you can see exactly what you're getting.
CON: It's someone else’s idea of what your home should be.
This article was contributed by Bloom Realty guest blogger, Joshua Feldman, SunTrust Mortgage.
The Feldman-Deas Team with SunTrust Mortgage specializes in loans for doctors, dentists, and orthodontists.
It’s amazing to think that through college, med school, residencies, internships, and fellowships, many doctors end up spending 10-15 years training. With that amount of education and training, all doctors will definitely be experts in their respective fields - and they need a mortgage lender who is an expert in doctor loans. There are a lot of options out there for physicians, but there are several important things to consider when choosing the right lender.
1. Doctor Loan or Marketing Gimmick?
There are a lot of "doctor loans" out there that, really, aren't all that different from other options. Some require 5% or 10% down -- which can often be done through other conventional loan options available to many borrowers with good credit (financed and lender-paid MI could be used to eliminate the monthly mortgage insurance). Other "doctor loans" are really "private bank client" loans that would be available to doctors and non-doctors alike. That's not to say that they may not be good loan options, but they're not really "doctor loans." Make sure the "doctor loan" you seek is truly a benefit that isn't available under another name. If it's a higher loan-to-value than otherwise available, and there is truly no MI, it's likely a true physician loan.
Tamaya on Beach Boulevard, between I-295 and the Beaches.
Back in April, ICI Homes unveiled its pre-construction pricing in Tamaya, the new 2,400 home, master planned community about half way between Downtown and the Jacksonville Beaches. Much has been made about the cool Mediterranean style ICI Homes is known for, in neighborhoods like Palermo, and the [future] Siena development in Nocatee. What about location? That’s pretty unique as well.
Neighborhoods like Wolf Creek, Jacksonville Golf and Country Club and Highland Glen are convincing high end Jacksonville Home buyers that you can live in luxury in what Jacksonville natives sometimes refer to (in the pejorative sense) as the “Southside.” Every luxury development has its hook. In Ponte Vedra, there’s the beach. In Deerwood, the St. John’s Town Center, and Old San Jose and Palazzo in San Marco/San Jose make for a quick trip downtown. But where’s the happy medium?
AV Homes will offer several home styles in CypressTrails Nocatee.
The list of Jacksonville new home builders is growing as AV Homes sets up to build in Nocatee’s Cypress Trails neighborhood. With a December opening planned, AV Homes moves into Nocatee Cypress Trails with six home designs, ranging from 1,750 to 2,720 square feet. They’ll offer one and two story floorplans with an eclectic mix of styles from Craftsmen to Tuscan.
New 10,000 sq ft amenity center breaking ground at Tamaya, between Downtown and the Beaches.
Like its Tuscan Style, super-luxurious new homes in Tamaya
, ICI Homes
is breaking ground for an amenity center that should fit right in. Almost exactly between Jacksonville’s Downtown
and the Beaches
, ICI Homes will begin work this fall on the $10-million Tamaya amenity center, with an 11,000 square foot clubhouse, multiple pools, tennis, fitness (4,500 square feet on its own), and a huge multi-purpose outdoor event lawn.
Jacksonville new home construction growth in a contributing factor for higher PHSI in the South.
The Jacksonville new home construction
market is no doubt helping boost the overall Pending Home Sales Index (PHSI), which is a forward-looking indicator based on contract signings. The PHSI climbed 3.3 percent to 105.9 in July from 102.5 in June. The index is at its highest level since August 2013 (107.1). A PHSI of about 100 is considered an average.