I want to publicly congratulation my broker, Linda McMorrow for a couple of major awards she recently received.  Linda, co-broker at The Legends of Real estate with her sister Selby Kaiser, was named Realtor of the Year by the Northeast Florida Association of Realtors (NEFAR)!

Linda was also inducted into NEFAR’s Circle of Honor as she was recognized for her achievements during her more than 30 years of service to the community and for her work on the association’s Professional Standards Board that handles disciplinary problems.

She also has served on the Multiple Listing Service (MLS) board, including a term as its president and provided valuable leadership to the Mediation Task Force.

I cannot begin to thank Linda and Selby enough for all the support and leadership they provide to me and all the other agents at The Legends of Real Estate. They are unquestionably two of the most remarkable women in the greater Jacksonville real estate community.

Thank you, Linda, for who you are and all you do!

ABOUT THE AUTHOR

SUSAN A. FENNELL, PA - Following a successful career as an Operating Room Nurse, Susan Fennell entered the world of real estate sales and investing about 25 years ago and has never looked back. Her passion for life and business, her commitment to superior customer service, and a willingness to learn and embrace ever-changing technology have made her one of Jacksonville's most sought after buyer's agents. Susan is driven to get the very best for her clients in every transaction and she does just that! Susan is a Florida licensed Broker Associate with The Legends of Real Estate, REALTORS®.

Mandarin is one of Jacksonville's most popular areas for a number of great reasons. From a real estate perspective, because of it's size and the fact that I-295 runs right through it on the south side of Duval County, Mandarin is often divided into North Mandarin and South Mandarin. Mandarin's roots are said to date back to the Civil War. The building that is home to the Mandarin Community Club was rebuilt in 1872 after a fire destroyed an earlier building on the site. Harriet Beecher Stowe, famed author of Uncle Tom's Cabin and longtime winter resiendent of Mandarin, led the project.

MAP: Areas 13 and 14 are our MLS Areas for Mandarin. Area 13 is Beauclerc/Mandarin North and Area 14 is Mandarin South.

Since before the Civil War until nearly 1975, Mandarin remained a primarily rural communtiy, with much of the business in agriculture. Today, Mandarin is a thriving area with more than 10,000 residences and plenty of upscale retail centers and businesses. Bordered by the Beauclerc area on the north, beautiful/navigable Julington Creek on the south and the mighty St. John's River on the west, Mandarin offers her residents a fabulous suburban, family-focused lifestyle in one of the most quaint, charming and history-rich areas in Northeast Florida. There are numerous choices for home buyers throughout the area ranging from less than $100,000 to several million dollars for waterfront estates.

Many of the properties boast canopies of huge oak trees tha put on an incredible natural display for local residents. Quality education is a priority for many of these families and the area schools reflect that commitment providing among the best scores in the area. In addition to the excellent public schools, Mandarin is home to several private and parochial schools for every grade.

The community is central to Southpoint and Phillips Highway businesses including Jacksonville's largest mall, the Avenues Mall, making it a convenient commute for those who work in the area and providing easy access to all main roads to navigate to any location in the Greater Jacksonville Area. Downtown, performing arts centers and the sports arenas are all within 20 minutes of Mandarin. Retail stores, restaraunts, medical facilities and entertainment are abundantly located in and around Mandarin making it an ideal area for families of all sizes and types.

The area is also home to several synagogues and various churches totally about 40 houses of worship within minutes. Another drawing card to the area are the many beautiful neighborhood parks, natural waterways, marinas and nature trails throughout. Area residents have everything they desire for their active lifestyles.

SEARCH ALL MANDARIN HOMES AND CONDOS FOR SALE

BREAKING NEWS - SHORT SALE YOUR HOME AND GET PAID UP TO $20,000 BY YOUR LENDER! We have just learned that Bank of America is offering Florida homeowners as much as $20,000 to short sale their homes rather than allowing them linger in foreclosure. This limited time offer hasn't received very much promotion from Bank of America, but they sent emails to select Florida Realtors earlier this week outlining basic details of the plan. We have not seen the details yet but want to make our readers aware of the opportunity now! To qualify, the short sales must be submitted for approval to Bank of America before Nov. 30. The homes must have no offers on them already and the sale must close before Aug. 31, 2012. According to the information we received, the plan, which has a minimum payout amount of $5,000, is a genuine incentive to Florida homeowners who may otherwise be facing foreclosure. The thought process behind the offer is to provide a sort of bribe incentive encouraging the borrower to leave the house in good condition. All too many homes that have fallen into foreclosure have been neglected by the homeowners or even deliberately damaged in some cases. This move is a preventive measure which will hopefully save the bank thousands of dollars in losses due to damage and/or neglect when the property is left vacant for many months or years prior to selling. Perhaps this is a sign that banks are finally beginning to realize that there is no advantage to them by not working with the struggling homeowner. It is much better for the banks to accept the fact that there is just nothing these distressed homeowners can do to prevent the inevitable due to job losses or other unfortunate circumstances brought on by the horrible economy we've all had to endure. A spokesman for Bank of America said the program is being tested in Florida, and if successful, could be expanded to other states. Wells Fargo and J.P. Morgan Chase apparently also have similar short sale programs although we have no additional details on them at this time either. From what we understand, the Wells Fargo short sale incentive is only good on first lien loans that it owns, which is about 20 percent of its total portfolio. Also, you need to know that Bank of America’s plan excludes Ginnie Mae, Federal Housing Administration and VA loans. Similar to the federal Home Affordable Foreclosure Alternatives program, or HAFA, which offers $3,000 in relocation assistance, the Bank of America program may also waive a homeowner’s deficiency judgment at closing. Remember, we are here to assist you with your short sale and our close working relationship with a local real estate attorney provides opportunity for you to receive a free legal consult prior to making any decisions. Contact us for more information on this or any other real estate related questions.

I think the number one question we’ve heard over the past few years is “When will the market hit bottom?”

And our answer is always that one person’s guess is as good as another’s. We understand that some buyers have been waiting... hoping to time the market just right and buy at the very bottom.

Of course, the problem is that no one knows where the bottom is until it as started going back up again.... So, What can we say about the fickle economic forces that have been driving the real estate market? Markets that were among the healthiest six months ago are now in decline and have been replaced by a few unexpected markets that have worked through their job losses and foreclosures effectively. Jacksonville seems to be one of them.

A lot has happened in the housing market during this year. We saw a double-dip in home prices... Only a small improvement in employment occurred on a national basis.... And the long-anticipated housing recovery, which most housing economists pegged for late this year, hasn't materialized. Rising home prices, job gains, and improvement in median incomes are going to drive the healthiest markets over the next 12 to 18 months.

Moody’s predicts that markets that benefit from military spending, or major universities, will be at the top of the recovery. Some markets hit the trifecta with military bases, big universities, and strong private sector employment. Recently, Home Builder online and Moody’s compiled a list of the 20 healthiest housing markets through 2012 and Jacksonville came in at number four!

It is surprising to see any Florida market so high on any list of healthy markets, But they say that Jacksonville’s strong employment base has helped it come back before many of the services-dependent housing markets further south. Jacksonville’s strong military presence has always anchored the economy... and our growing financial services sector has added employment in recent years. According to Moody’s, Jacksonville employment is expected to rise 3.2% next year and Median income is projected to rise 3.3%. And to add further encouraging news, Businessweek just ranked Jacksonville, one spot above Denver, as the 26th BEST CITY IN THE COUNTRY citing positive data regarding the number of restaurants, school scores and even crime rates.  They said,

"...with miles of Florida beaches nearby and thousands of acres of parks and preserves, residents of Jacksonville are spoiled with outdoor activities... The city has good schools, low poverty rates, and plenty of great options for nightlife."

Apparently, builders and developers must also sense our market is positioned for recovery. They pulled 28% more permits through the first half of this year than last. and Moody's expects the growth to nearly double next year. The fact is that nobody knows for certain... but there are good reasons to think that Jacksonville has, indeed, hit bottom and is poised for recovery over the coming months. Those home buyers who have been sitting on the fence waiting for the bottom would be smart to carefully consider whether now is the time to pull the trigger.

Unless Congress makes a last minute change here’s what to expect for Home Loans this October 1st.

2011 counties at and above loan limit ceiling

2011 counties between loan limit ceiling

Check your county to see the loan limits

FHA LOANS

Please refer to the above linked charts to see the new limits by county, nationwide.

CONVENTIONAL LOANS

The “standard-agency” loan limits are not changing:
1 Family: $417,000
2 Family: $533,850
3 Family: $645,300
4 Family: $801,950

The “high balance” loan limits are dropping from $729,750 (single family) to:
1 Family: $625,500
2 Family: $800,775
3 Family: $967,950
4 Family: $1,202,925

FNMA uses the FHA chart to determine what county is eligible for high–balance (see links above).

To determine if a property is eligible for conventional “high balance” you need to look at the FHA County list.

I hope this helps you understand the changes and as always please call or email us with any questions regarding a specific situation.

Search Jacksonville, Florida Foreclosures

Search Jacksonville Bank Foreclosures with this up-to-date IDX Feed from Tim and Susan Fennell, The Legends of Real Estate, REALTORS®.

With this tool, you have all Jacksonville area foreclosures at your fingertips.

Find all the Jacksonville foreclosure properties by clicking on the map below or by choosing from the list. Search our database of Jacksonville foreclosures FREE with no obligation - we promise not to bug you. We trust that you will call us when you are ready.

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Another tool that many Jacksonville homebuyers like to use is ListingBook™ which provides

an INTERACTIVE search experience as well as daily emails with any and all updates or new listings that meet your criteria.

Both this map and ListingBook™ are updated hourly insuring that the information your receive is accurate.

OPEN MAP IN NEW WINDOW FOR EASIER VIEWING

JACKSONVILLE REAL ESTATE

CONDOS & HOMES FOR SALE

The Legends of Real Estate, REALTORS®

_______________________________________

Property information is not guaranteed. © 2011 MLS and FBS.Prepared by Tim and Susan Fennell, Brkr Assoc on Wednesday, August 24, 2011 7:59 AM

The information on this sheet has been made available by the MLS and may not be the listing of the provider.

Address: 424 MALLOWBRANCH DR , ST JOHNS , FLORIDA ; 32259 County: St. Johns
List Number 576828 Status Active Property Type Residential Price $ 214,900 Region 30-ST JOHNS COUNTY-NW Area 301-JUL CK/SWITZ Parcel # 249544 0320 Lot 32 Block 000059 Subd-Legal JULINGTON CREEK Common SUTTON HOLLOW Association Fee Y Assoc Fee $ 425 Assoc Fee Freq 53015059 CDD Fee Y/N Y CDD Fee 765.00
Bedrooms 4 Full Baths 2 Half Baths 0 Bdrms Conform Y Approx. Heated SqFt 2,234 Year Built 2004 Waterfront Y/N N Navgble to Ocean Y/N N
Elementary School Durbin Creek Middle School Fruit Cove High School Creekside New Construction Y/N N Homestead Y Gated Community N Historic Area N Mobile/Mfg Home N

Room Name Dimensions Room Level Flr Master Bdrm 16'8' x 13' 1 C Bedroom 2 11'8' x 9'10' 1 C Bedroom 3 10'4' x 10 1 C Bedroom 4 14 x 10 1 C	Room Name Dimensions Room Level Flr Breakfast Rm 10'6' x 7'10' 1 T Dining Rm 12'4' x 10'10' 1 C	Room Name Dimensions Room Level Flr Family Rm 24' x 16'4' 1 C Kitchen 12'4' x 10'10' 1 T Living Rm 10'8' x 11'6' 1 C
DRASTIC REDUCTION !!! Your buyers will love this extremely well maintained home. 3 CAR GARAGE !!! Very nuetral decor with 10' ceilings and vaulted in the family room. A cook's delight in this spacious gourmet kitchen with granite counters and back splash. Tons of cabinets, stainless double sink w/Extensa faucet and sprayer. 18x18 tile and like new carpet. 4 bedrooms with 2 large walk-in closets.
Type of Dwelling: Sngl. Fam.-Detached Style: Ranch Square Foot Source: Tax Roll Bedrooms: Split Bedrooms Bath: MBR Bath Tub Sep Stl Dining: Separate Dining Room; Breakfast Room Kitchen: Breakfast Bar; Pantry - Closet; Solid Srfce Cntrtops Major Appliances: Range Electric; Microwave; Dishwasher;Disposer; Washer/Dryer Connect; Self Cleaning Oven Additional Equipment: Security Sys.-Owned Additional Rooms: Entry Hall / Foyer; Separate Living Room;Family Room; Lndry/Util. (inside)	Interior Amenities: Walk-in-Closet(s); Vaulted/Cath. Ceil.; Ceiling 8+ Ft.; Thermal Window(s); Window Treatment(s); Sliding Glass Dr(s); Wall-to-Wall Carpet; Tile Floors Fireplace: Mantle; Gas Fireplace Type of Heating: Central Heating; Electric Source Type of Cooling: Central Cooling; Electric Source Energy Features: Heat Pump-Air; Ceiling Fan(s); R-11 Wall; R-19 Ceiling Utilities: Water - Public; Sewer - Public; Cable - Available; Cable - Connected; DSL Available Water Heater: Electric Water Heatr Structure: Wood Frame; Concrete Floor Interior Amenities: Double Paned Windows Exterior Wall: Stucco Roof: Shingle Roof Pool/Hot Tub: No Pool	Common/ClubAmenities: Club Facilities; Club Pool; Children's Pool; Tennis Court(s); Basket Ball Court(s); Exercise Room;Garbage Pick-up; Community Garbage Misc Exterior: Patio - Open; Mandatory Fees Fencing: Fenced Rear Parking Facilities: 3 Car Garage; Garage Door Opener Approx Parcel Size: Less than 1/4 Acre Lot Description: Regular Lot Presently Zoned: Residential Road Frontage: City Street Road Surface: Asphalt Road Possible Financing: Will Consider FHA; Will Consider VA;Conventional; Cash Documents on File: Survey on File; Photos on File Occupancy: At Closing; Negotiable

Provided as a courtesy of Tim and Susan Fennell, Brkr Assoc THE LEGENDS OF REAL ESTATE, REALTORS® http://www.BestHomesInJacksonville.com

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devoid of trying to SELL YOU ANYTHING?

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The Legends of Real Estate, REALTORS®

904-568-5468

SEARCH ALL CONDOS & HOMES FOR SALE IN THIS AREA