Jacksonville FL Real Estate Update

THIS CONTENT IS NOT OURS - WE HAVE THE AUTHOR'S PERMISSION TO POST

We extend our thanks to Sheldon Neal for sharing this information with us for the benefit of our readers. 

IF THIS DOESN'T MOTIVATE FIRST TIME BUYERS, WE DON'T KNOW WHAT WILL!
(First Time Buyer is defined as an individual who has not owned a principle residence in the preceding 3 years.)

NOW IS THE TIME TO BUY!  Home prices and interest rates will be going back up soon - Interest rates are already starting to climb.

Our thanks to Jeff Belonger for providing this excellent update and explanation regarding 'advance loans' on the $8000 tax credit.  From what we have been able to learn, Jeff is on the mark with his analysis.

Let me state right up front that we DO NOT charge a transaction fee so we don't really know or understand why some brokers do charge one.  What I want to share in this post is why we DO NOT charge one and why we WILL NOT charge one.

First of all, what is a transaction fee?  In a nutshell, it is an additional fee, on top of the commission, that some brokers charge to buyers and/or sellers of real estate. 

The most common explanation for charging the fees is that it is needed to cover the costs the broker incurs in complying with state and federal laws regarding maintainence of paperwork/files for a number of years.  Obviously those costs could add up, especially for brokers with lots of transactions. 

The first time I heard about these fees (several years ago) my initial reaction was, "You've got to be kidding me!"  After several years of thinking about it, my reaction now is, "You've still got to be kidding me!" 

"Fees" are strange little things, in my opinion.  "Fees" are what politicians charge us when they don't want us to think that our taxes are being raised.  And, likewise, "fees" are what brokers charge when they don't want you to think that you are paying a higher commission.

And, from what I understand, there is a LEGAL difference between taxes and fees and there is a LEGAL difference between commissions and fees... the question I've had all along is whether or not there is any PRACTICAL difference between the two and if not, how long might it be until someone brings a law suit challenging that supposed difference.

Well, lo and behold, someone has and they won in a class action law suit brought in a Federal Court!  It happened in Alabama and you can read about it HERE.  The question I have now is, "when and how is this going to affect brokers in other states?"

I sure am glad that we never charged this (junk, in my opinion) fee.  In fact, I've said all along that if my broker decided to charge it I would find a new place to hang my license.  Fortunately I've never had to face that decision because both brokers that I have worked for shared my opinion and concerns.

For any buyer or seller that understands this fee up front and doesn't mind paying it... more power to them.  Me?  I like to know what I am paying for and I like to know that the money I'm spending is used for the purpose stated.  Something about fees (especially fees that look like junk) just gets my goat.  If I were the buyer or seller I would just say "NO THANKS, I'll find another broker to assist me who doesn't charge extra fees."

It was just announced today that Saft America, a manufactorer of high-tech batteries wants to build a $200,000,000 factory at the Cecil Commerce Center.  They are looking for half the cost of the factory to come from the U.S. Dept. of Energy.

If plans come to fruition, they will be adding about 800 new jobs to the Jacksonville economy over the next three years in addition to the jobs that will be created for the construction of the plant.

We understand that Saft is also looking to local and state authorities for other incentives.  I suppose that could be a stumbling block but let's hope that the project will come together to help pull us out of our current housing decline.

A few days ago we told you that interest rates had inched down a little... not their lowest ever point but pretty darned close to it.

We also cautioned that this could be short-lived and anyone on the fence about buying would be well-served by going ahead and making the move. 

The time you have to "pull the trigger" may be shorter than we expected - or, at least, hoped for.  There are serious signs that interest rates could spike - and spike hard and fast! 

There are also signs that prices in the real estate market have bottomed out.  We are now at about 2002 levels and holding.  We told you about some markets that were hardest hit by the real estate bubble burst, such as Phoenix where the tide is turning hard and fast.  They are actually seeing bidding wars again as prices inch upward. 

Once that trend begins, many buyers will get off the fence and start buying.  That will trigger an increase in prices.  So... if you are on the fence and want to take advantage of both low interest rates and low home prices, your window of opportunity is now.  The opening in that window is beginning to narrow and could shut at a moments notice.

Bottom line?  If you choose to wait (snooze), you will lose this opportunity and may never get it back in your lifetime.  In 5-10 years, don't be one of those people saying "If I had only purchased my home in the summer of 2009 I'd be sitting pretty today!"

Do you want to sell your house or not?

Look, this really isn't a trick question.  The answer is either Yes or No and your answer is going to make all the difference in the world!  It's a sincere question and it needs to be answered HONESTLY right from the start.  If you aren't really sure then don't waste your time, energy and money putting it on the market. 

And don't worry about wasting our time, energy or money because if you aren't absolutely certain that you want to sell, we won't take your listing.  We aren't in business to list houses.  We are in business to sell houses!

The simple reality is that there are hundreds upon hundreds of homes for sale in the Greater Jacksonville Florida area and if you don't really want to sell your house, it isn't going to sell. <<<----- (Note the PERIOD at the end of that sentence. Not a question mark... a PERIOD.)

Am I being too direct with you?  Well, I'm not sorry.  I'm not sorry because it is far better that I be 100% honest and up front with you now than to tip-toe around, waste your time, energy and money as well as ours, only to disappoint you later. 

If you are looking for a real estate agent who will simply say nice things that make you feel all warm and cuddly inside rather than get down-and-dirty and do the hard work it takes to get your house sold then you may as well stop reading now and call someone else.  As I said, we are in business to sell houses, not just list them.

Our goal is to do what it takes to get your house SOLD!  We cannot reach our goal if you're not 100% certain that you want to sell it. 

If your answer to the question, DO YOU WANT TO SELL YOUR HOUSE OR NOT is any of the following then DON'T BOTHER!

1. No.
2. I'm not sure.
3. It doesn't matter.
4. If we can get as much money for it as we want then we will sell but if not, we'll just stay here.

The only real chance you have of selling your house in this VERY STRONG BUYER'S MARKET is if you answer with a resounding "YES, I WANT TO SELL MY HOUSE AS QUICKLY AS POSSIBLE!"

Okay, if you are still reading then I'm going to move forward on the assumption that your answer is YES.

Now we can get down to business. 

There are a number of things that MUST be done in order to sell a home in this market.  We will take care of the vast majority of those things but there are a few things we can't do for you that you will have to do for yourself. 

These are not suggestions... these are MUST DO items.  But, of course, only if you are sure that you want to sell your house. 

If you aren't sure that you want to sell then please refer back to paragraphs 2 and 3.

Here's what you MUST DO to get started.

1. STOP thinking of and/or referring to this HOUSE as your home.  You are not selling your home. Let me repeat that -- YOU ARE NOT SELLING YOUR HOME!  You are selling A HOUSE... you will take your home with you when you move.  (And please don't be confused by our marketing that will refer to YOUR HOUSE as a HOME... you see, we want the buyer to view your house as THEIR HOME.)  If you simply cannot do this or refuse to do this then please refer back to paragraphs 2 and 3 again.
2. STOP listening to your neighbor, mother, father-in-law, friend at work, great aunt Alice who has a real estate license in Podunk, etc.  They don't know diddly squat about selling your house and whatever they did to sell theirs and/or how much they got for theirs doesn't mean a thing.  The Jacksonville Florida real estate market changes almost daily.  Whatever happened yesterday is YESTERDAY'S NEWS.  Believe it, accept it and DEAL WITH IT... it's the truth.
3. STOP thinking that your house is nicer than any other house on the market.  It might be BUT it probably is not.  (Sorry about that... I hate to burst your bubble but if you had seen as many houses as we have over the past few decades, you'd know it's the truth.) Sure, it was the nicest one you could afford when you bought it and you've done a great job of making it just perfect for you and your family.....     NEWS FLASH!  YOU AREN'T BUYING YOUR HOUSE... SOMEONE ELSE IS AND WHAT THEY WANT AND LIKE IS PROBABLY A LOT DIFFERENT FROM WHAT YOU WANT AND LIKE.

Okay, there are several other MUST DO items but we aren't going to give away all of our secrets here and now.  We've been doing this for a long time and we study the market and marketing techniques and trends daily... we aren't going to give you everything without a commitment from you to work with us. 

And we sure aren't going to tell our competitors everything that we do for you, although the fact is that the vast majority of them don't have the technical and internet skills and tools to implement the same things anyway and most probably aren't will to do the necessary work either... but there's no point in taking a chance.

What is your next step?

Call us to set up a free, no-obligation consultation.  We will go over all the details of our marketing strategy and answer any questions you might have at that time.

If you decide that we are the kind of agents you want working for you then we'll get started.  If not, that's okay too.  We know that our style isn't for everyone.  Some people prefer to hire a friend rather than a professional... we understand that. 

However, if you want professionals who are also friendly and like to have fun while they work then we just might be the agents you've been looking for....

You'll never know unless you call.

Hope to hear from you soon!

Tim and Susan Fennell
Associate Brokers / Property Managers
904-568-4528

Hometown Realty of Duval, Inc.
Office 904-288-9293

For just a little taste and teasor of what we have to offer visit our website at JaxPowerListings.com. 

I am in awe of and have the deepest respect and admiration for the men and women who gave their all for us. I am eternally grateful to their families who supported them in their service.



She holds the roses on her lap. The sweet smell fills her mind and adds to what all will call a perfect day. The sun sits high with only a few clouds to give contrast to the light blue sky. An ever so light breeze cools the air to comfort.

She does not hear the words that are spoken for she is dreaming of the most beautiful little boy. His blue eyes danced with a smile that warmed her heart.

She remembers the day his little sister got caught on the barbwire fence. He was only six years old. She watched with eyes watery with pride, the concern and take-charge attitude he showed as he freed the crying little child...

Read the rest of this beautiful essay here

Essay © Copyright 2007 GEOFFREY ROBSON. All rights reserved.

Rates on 30-year mortgages inched downward again this week, remaining below 5 percent for the tenth-consecutive week and just above record lows.

Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dipped slightly to 4.82 percent this week, down from an average of 4.86 percent last week.

The question fence-sitting buyers must ask themselves is "How long will they stay down and should I act now?"  We recently wrote about the 'gamble' one makes by waiting and waiting to buy.  With prices super low on houses coupled with low interest rates I don't know if it will or even CAN get any better.

Anyone even "thinking" about buying before the end of November in order to take advantage of the up to $8000 Tax Stimulus really should start looking NOW.  With more and more buyers coming back into the market and moving into a healthy summer real estate season, prices and rates could well start to climb again by mid-summer.

Let us help by answering any/all of your questions and more.   Go to our website for more info and to search the MLS for available listings. www.BestHomesInJacksonville.com

We just returned from a NEFAR meeting in which the VP of Public Policy for FAR (Florida Association of Realtors) announced that the premature announcement of last week is going to be a DONE DEAL within a few days. 

"The technical details are still being finalized and will soon be published in a mortgagee letter and posted on our Web site," Lemar Wooley, a HUD spokesperson, told Realtor® Magazine Wednesday afternoon.

He told us that the White House got cold feet and started to backtrack but after regrouping they are going to go forward with the proposal to allow bridge loans against the stimulus check to be used for downpayment assist for first time buyers.

Agree with the program or not, if you qualify you might as well take advantage of it now.  Couple it with the low interest rates and low home prices and you have great reasons to buy a home NOW!

Edit:  Just found this supporting article - http://www.floridarealtors.org/NewsAndEvents/n6-052209.cfm

Okay... I've been hearing about and reading about Twitter for months now and honestly do not understand its value.  Perhaps I'm getting old or maybe just overwhelmed by all the various "things" I "should" be doing to enhance my life and business.

Geez!  A man can only do so many things.  Right!? (sigh... I guess there's room for one more)

Fact One - I honestly don't get what all the hoopla is about Twitter and tweeting.

Fact Two - I set up a Twitter account anyway and will try to update it frequently and follow all the other tips and advice I can find on how to use it best.

Fact Three - Twitter is not the first thing I've not understood in life and it won't be the last.

Fact Four - Not understanding something doesn't mean that it is bad.  Take WOMEN for example - I don't have a clue but I still LOVE 'EM!  (Especially that cute redhead that takes super good care of me day in and day out!)

You can Twitter me this or that or the other at http://twitter.com/TimFennell.