Jacksonville FL Real Estate Update

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Time is running out for first time home buyers tax credit

Time is running out for First Time Home Buyers to take advantage of the $8000 Tax Credit.  Remember, also, that "First Time Home Buyer" means anyone who has not owned a principle residence within the preceding 36 months.

You only have until November 30, 2009 to find a home, secure financing and close the transaction
to receive your $8,000 tax credit/downpayment.

While that may seem like plenty of time, the fact is that a large number of homes for sale in our Jacksonville, Florida market are "short sales" and although their name says "short" it actually takes a long time to work through the process and close on these homes.  If you choose a short sale listing today, it could easily take up to the last minute to finalize and close.

The bottom line is that if you are a first time home buyer you need to get very serious about finding the right home NOW.  We can save you a lot of time, energy and money by doing all the footwork for you. 

We will help you locate the home, decide on a price offer and terms and then negotiate the sale all the waay through closing... and our services don't cost you a dime.  The seller will pay our commission at closing.

What are you waiting for?  Call now and let's get started - Don't leave $8000 sitting on the table!

Tim and Susan Fennell
904-568-5468

Visit our website for more information.

Timothy H. Fennell, P.A.
Broker Associate / Property Manager
Hometown Realty of Duval, Inc.
Office 904-288-9293

Hometown Realty Logo

Timothy H. Fennell, P.A.
Susan A. Fennell, P.A.
Broker Associates / Property Managers
www.BestHomesInJacksonville.com

0 comments • Tim and Susan Fennell • July 21 2009 10:09AM

How to tell if your home is overpriced - the creepy crawly test.

This falls under the category of LIFE'S TOUGH LESSONS! 

One of the most difficult realities home sellers struggle with is accepting the CURRENT MARKET VALUE of the property they want to sell.  HINT: It is lower than you think; it is lower than it was 6 months ago; AND IF NOT PRICED TO SELL NOW (ie. "market value") it may be even lower next week.

Waiting to lower your asking price is a sure-fire way of netting LESS than if you price it right in the beginning.  If you didn't price TO SELL in the beginning then...

It is time for a NEW BEGINNING.  Price it where buyers will look at it and make an offer on it...

or plan to keep it for a long, long time while waiting for the economy to turn around.

Our thanks to Brian Brumpton, Boise Idaho Real Estate, for allowing us to re-blog this clever lesson in reality.

Via Brian Brumpton, Boise Idaho Real Estate (Keller Williams Boise):
www.brianbrumpton.com biography featured listings Boise Relocation Information Local Boise Events Search For Boise Homes Free Reports About Real Estate

Supra Lockbox covered in spiderwebs How do  you know when your home is overpriced?

Well you could have your agent pull comps and if they're half way competent you could take their word for it.

Or you could wait until the lock box on your front door sits long enough for all the creepy crawly things to feel safe enough to make it their home.

Bottom line if the spider living in your lock box is netting more visitors than  you are chances are you're priced out of the market.

Statistically they say it takes two to three times longer to sell a home through price reductions than it does to price it right up front.

If your home is priced right for it's condition, for it's competition, and for the market, your agent shouldn't have to proceed with caution when removing the lock box from your door.

You can save yourself time and net a bigger return doing the research upfront and gettig the equation right from the start.

As for me I don't like spiders so if I show up at your door and your lock box looks like this, I'm going to leave it and it's inhabitants for the next agent.

 

 

Hometown Realty Logo

Timothy H. Fennell, P.A.
Susan A. Fennell, P.A.
Broker Associates / Property Managers
www.BestHomesInJacksonville.com

0 comments • Tim and Susan Fennell • July 16 2009 07:09AM

VIDEO of 3BR/2B Home for Sale in Jacksonville, Florida - Built for and around FUN!

Built in 1960, this 3BR/2B home has enjoyed a professional expansion and remodel to the main living areas and kitchen. The ORIGINAL OWNER has occupied the property throughout its life and kept it in immaculate condition.

In addition to screened front porch, expanded living areas, hardwood flooring (under carpet), brick wood-burning or gas fireplace and quality upgrade appliances, this home features an additional game room building not included in square footage. The large finished gameroom has unit heat and cooling and includes billiard table with table tennis top too!

 

Video of home for sale in Jacksonville, Florida - Fort Caroline Club Estates - Convenient to Ft Caroline Club, boat ramp, schools, shopping, downtown and more. This home offers far more than you expect. The Large corner lot offers plenty of room to expand if desired. 3 Bedrooms, 2 Baths, 1680 square feet plus recreation shed with pool table and additional tool shed. Seller had home inspection prior to listing and made the very few minor repairs recommended. It also has a newer HVAC system, brand new architectural shingle roof, and freshly painted exterior.

Brokered by Hometown Realty of Duval, Inc. - 904-288-9293
Tim and Susan Fennell (Broker Associates / Property Managers)
904-568-5468

Hometown Realty Logo

Timothy H. Fennell, P.A.
Susan A. Fennell, P.A.
Broker Associates / Property Managers
www.BestHomesInJacksonville.com

0 comments • Tim and Susan Fennell • July 06 2009 06:25AM

Are Real Estate Prices Being Held Back?

We want to thank Ed & Cindy Knight for allowing us to share the following post from their blog with our readers.  What can you do, as consumers?  Call your congressman/woman and demand they get off their duffs and do something PRODUCTIVE to reshape our economy.  What you are about to read is not a pretty picture but it is the reality we are beginning to deal with in real estate.

Know this... Susan and I will fight for you and the value of homes in the Greater Jacksonville Florida area!

Via Ed & Cindy Knight (Realty Executives e-Group):

Like many real estate agents I am getting more than a little ticked off at how the government banks are handling the foreclosures and the sale of homes and condos. In my opinion, they are running the real estate market right into the ground. Of course, right behind them are the appraisers who are actually "untouchable" now thanks to the HVCC Home Valuation Code of Conduct. One of my favorite blogger's Chris Griffith wrote about this recently. Right behind them are the underwriters who yes work for the banks.

So do I sound ticked off? Well I am and right now I am beginning to think it's some kind of conspiracy to cripple the middle class. No I am not going nuts it's just I am seeing first hand what is happening to the real estate market here in Macomb County, just outside Detroit. I just can't take it anymore and I think people need to know what's going on. I think the banks are holding real estate prices back.

Here's why -

  • last month we sold a home that was listed at $149,000 it had 7 offers and our buyer offered $169,900. Now that means the market is talking right? Not quite - although our buyer's offer was the best and his offer was accepted the appraiser brought the value in at $152,000. So much for the market talking. The best part is this home sold in 1988 brand new for $150,000 and the township well they are collecting taxes based on a value of $241,000.
  • a few weeks back we sold a condo for $92,000 actually we thought it was a pretty good deal.  Guess our 20 years of real estate experience means nothing - the appraiser said it was worth $83,000. The estate was appalled because their mom paid $80,000 in 1979. Of course, they were forced to sell since we could not fight the appraiser.
  • this tops them all - a condo sells for $83,000 this time the appraiser says it's worth $85,000 - ready for this one? The underwriter says No - she ran the automated evaluation system and said it was worth $73,000. What???
  • here's one that I have first hand knowledge of - we bought a condo in 2003 for $105,000 bank owned. These units sold back in 1994 for $65,000 and in 1988 brand new for $58,000. But in the past 3 years the banks have ran the market right into the ground - $95,000, $62,500, $59,900, $49,900, $44,900, $40,500, $38,000. Urgh

Now remember Macomb County was NOT an area that went way up in value. No this area did not see double digit appreciation in a couple years. We had normal appreciation and then the banks came in and ran it right into the ground. The other day I saw a home selling in Detroit for $850 yep you read that right. No it was not a wreck. It was a 3 bedroom brick home with a basement and a garage and a few miles from where I grew up. Sick just sick.

So what do you think?

 

Hometown Realty Logo

Timothy H. Fennell, P.A.
Susan A. Fennell, P.A.
Broker Associates / Property Managers
www.BestHomesInJacksonville.com

1 comment • Tim and Susan Fennell • July 03 2009 09:09AM

3BR/2B Home for Sale in Ft Caroline Club Estates - 1680SF + 350SF Recreation Room

Built in 1960, this 3BR/2B home has enjoyed a professional expansion and remodel to the main living areas and kitchen. The ORIGINAL OWNER has occupied the property throughout its life and kept it in immaculate condition.

In addition to screened front porch, expanded living areas, hardwood flooring (under carpet), brick wood-burning or gas fireplace and quality upgrade appliances, this home features an additional game room building not included in square footage. The large finished gameroom has unit heat and cooling and includes billiard table with table tennis top too!

Convenient to Ft Caroline Club, boat ramp, schools, shopping, downtown and more. This home offers far more than you expect. The Large corner lot offers plenty of room to expand if desired.

Seller had home inspection prior to listing and made the very few minor repairs recommended. It also has a newer HVAC system, brand new architectural shingle roof, and freshly painted exterior.

 

Hometown Realty Logo

Timothy H. Fennell, P.A.
Susan A. Fennell, P.A.
Broker Associates / Property Managers
www.BestHomesInJacksonville.com

0 comments • Tim and Susan Fennell • July 03 2009 08:36AM