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Jacksonville Real Estate Blog

37 million Americans will move this year.
37.5 million Americans will move this year. Slightly more than half will buy instead of rent.  

American Express Spending & Saving Tracker reports that sixteen percent of Americans will find a new place to hang their hats this year. That’s six percent more than in the previous two years, when the number hovered around 10 percent. 
 
Buying will be more popular than renting, they report, with about 17 million people planning to purchase a home or condo, compared to about 16 million who will rent.  
 
It’s all about consumer confidence. 
 

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Barnett Bank Tower to be developed into retail, residential and office space.
Developers are planning to retrofit the 1926 Barnett Bank Tower with a pricetag of $30 million.
 
OneSpark, Springing the Blues -- all promising signs of life for the resuscitating of downtown Jacksonville.  So the timing finally seems right for something that’s been on the minds of ambitious developers for awhile -- redeveloping the iconic Barnett Bank Tower.
 

Forget Angie, and Craigslist. If your home is screaming "fix me," than call us. If you’ve heard knocking, creaking, gurgling or scratching, it could just be that Uncle Harold is trapped in the attic, or more likely, it's your house saying, "help me." These noises can occur in homes of all ages, and they’re usually easy to fix. And if you or someone you know needs a referral to a great handyman, plumber or pest control specialist, or any other kind of qualified contractor, contact Joi Perkins, joi@bloomrealty.com, or 904-233-3070.  Bloom Realty works with a myriad of qualified professionals on a regular basis, and we’ll be happy to recommend a contractor for you.  

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twenty Mile at Nocatee Logo
Nocatee's Twenty Mile is the Newest in the Planned Nocatee Community in Ponte Vedra

One of the newest Nocatee communities in Ponte Vedra to come on line in 2014 will be “Twenty Mile at Nocatee.” It’s a rustic, old Florida feel community that will be comprised of several unique neighborhoods and amenities, each offering homes in a variety of types and prices, from the $200’s to over $1 million.

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RiverTown in St. Johns County, off of SR 13, soon accessible from I-95  
Mattamy has recently completed its purchase of the RiverTown development from St. Joe Company.

It’s been the rap for RiverTown in St. Johns County that it is too far off the beaten path to attract as many Jacksonville and St. Augustine new home buyers as they would have liked. But how do you move a neighborhood?

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After: 3215 Plaza Place
Four Month Renovation included complete exterior makeover.
 
Bloom Realty unveils its newest reno-jewel in this Avondale re-do at 3215 Plaza Place. It’s a super cute 1942 bungalow, and the soup-to-nuts makeover makes it virtually unrecognizable from its previous iteration.  The four month restoration has left no stone unturned. 
 

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Zombie mortgages
Zombies happen. Deal with it.
 
Folks, if you watch The Walking Dead, and I hope you do, you know that zombies are a growing problem for the real estate market.
 
The Consumer Financial Protection Bureau (CFPB) is the first line of defense against a problem that plagues some homeowners. The “zombie” foreclosure occurs when borrowers find out they still own a home they assumed was lost to them via foreclosure. 
 

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They're coming back! Boomerang buyers
Welcome back! Boomerang buyers are now a significant part of the homebuyer market.

In late 2009 John Q. Homebuyer returned from work to find an eviction notice taped to the front door of his Southside home, located in a quiet little subdivision off of Belfort Road. John Q. had fallen way behind on his mortgage payments since his rate reset to an amount five points higher than he’d been paying since he got the mortgage in 2006. The lender foreclosed, he filed for bankruptcy, and he moved into an apartment with his wife and three year old son. 
 
But John Q. spent the next four years doing the right thing — playing by the rules, virtually eliminating his credit card debt, paying his bills in full, on time, every time. John was convinced he would rise again.  Now he’s back. He’s the “boomerang” buyer who has qualified for a mortgage on a nice three bedroom home not far from his former home on the Southside of Jacksonville. 
 
Market Pulse, real estate sales going in the right direction
Real estate market headed in the right direction. 

Nationally, as in Jacksonville and the rest of Florida, 1) existing home sales drop, 2) prices continue to rise. What does this mean? Buy. The National Association of Realtors forecasts the price of existing-home price will rise about of five to six percent this year — as much as $12,000 on a $200,000 home.
 
What do higher prices really mean? Three things:
 
  1. Accelerated buying, with opportunities being seized because timing is everything.
  2. Existing homebuyers finding more equity on their home, and if their looking to move, more motivated than ever that they’ll get a great price.
  3. Mortgage rates inching higher: According to Freddie Mac, the rate for the 30-year loan increased to 4.37 percent from 4.33 percent in the first half of February.
Fear Factors in the Homebuying Process
Fear Factor, Homebuyer Edition: Fear of Loss is the worst fear of all.

Some people would rather eat bugs. Fear of loss makes you do things you’ll be ashamed of later, and can lead to permanent self-loathing.  (We've got lots of homebuyer to-do's on our website). Fear of losing that one-in-a-million home is paralyzing. It’s the basis for bad decision making.  Face the fear head on, and conquer it before you sign anything.
 
 

Blog Categories


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3 br, 2.0 ba, 1823 ft²
Jacksonville, FL
Subdiv: Eagles Hammock
Area: Northside
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3 br, 2.0 ba, 1328 ft²
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Subdiv: Telfair Stocktons
Area: Downtown
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3 br, 3.5 ba, 1683 ft²
Jacksonville, FL
Subdiv: Tapestry Park
Area: Southside / Tinseltown
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5 br, 3.0 ba, 3297 ft²
Jacksonville, FL
Subdiv: Wynnfield Lakes
Area: Intracoastal
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Area: Mandarin
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