pstaines's blog

It appears that the tide is beginning to turn in some markets.  According to our National Association of Realtors, sales of existing homes rose to its highest level in 13 months, and had the highest percentage increase in five years for statistics ending September 2008.  This increase resulted from buyers responding to improved housing affordability conditions and low interest rates.  All indications point to this trend continuing as interest rates remain low and housing prices continue to stabilize.  And with the $7500 tax credit that is available to qualifying buyers who close by

The Mortgage Bankers Association of America has reported a 12 percent increase in mortgage applications during the first week of February. With interest rates at 40 year lows, money is cheap right now and there is no better time to either purchase a home or refinance your current mortgage.   The 30 fixed rate mortgage is averaging around 5.75 percent.  And with home prices lower than they were this time last year, now is a great time to buy. 

I am asked quite often from homesellers when the real estate market will return to "normal". First of all, there is no such thing as a normal real estate market.  For those of us wishing for the frenzied market of a few years back, get over it.  It's not here, nor will we likely see it in the future.  But that's not to say you shouldn't get your home on the market now. The majority of real estate transactions occur due to an event in one's life such as a change in employment, birth of a child, death of a spouse, injury, illness, etc.  As long as these life events occur, real estate will continue to be transacted.  So yes, the market may have changed, but it's not dead.  Forget about what you read or hear in the news.  Jacksonville Realtors are still selling quite a number of homes...you just don't read about it in the papers.  So go ahead, take the next steps and get your home ready for sale now.

I wanted to pass along some information about a free program for homeowners offered by the state of Florida.  The My Safe Florida Home program is being offered by the state to advise homeowners how to protect their homes against wind damage.  The inspection looks for ways to harden your home against hurricane and wind damage, determines your home’s current hurricane resistance rating to withstand hurricanes, and offers suggestions for improving your home’s ability to withstand wind damage.  And, implementing th

While Realtors may debate what really matters most to homeowners when selling a home, The National Association of Realtors (NAR) research shows that the number one concern for all buyers (65 percent of all respondents) is "quality of the neighborhood."  Coming in second (50 percent) was "convenience to work,"  while "overall affordability of homes," "convenience to friends and family" and "quality of the school district" rounded out the top five. The quality of the neighborhood was most important to married couples (68 percent), whereas single males were not nearly as concerned (56 percent). However, if your home is overpriced, the above criteria may not matter in this market due to the amount of inventory. So if you are thinking of selling your home and are in a favorable neighborhood and school district, price it right.  You'll be ahead the market before the sign even goes in the yard.

I’m hearing from a lot of buyers regarding how to file for their Homestead Exemption.  If you purchased a Florida property in 2007 as your owner occupied, primary residence, you are eligible for the homestead exemption as long as that property is your permanent home as of January 1st.  This means you will receive a tax-saving exemption on the first $25,000 of assessed value (as determined by the County Property Appraiser)  You have until March 1st, 2008 to file so just

I get asked alot whether we are in a buyer's market or a seller's market.  While I would agree that the market has shifted from our robust seller's market, I think it's time for a new market definition.  I believe we are in an opportunistic market.  Let me explain.  

Opportunity exists for both buyers and sellers.  If you a buyer, you have more available inventory and cooperative sellers than ever before.  Builders are willing to throw in incentives and prices are adjusting to meet market demand.  Everything is negotiable…from the fees you pay to secure financing to the appliances and pool equipment.  Never before in my ten plus years of selling real estate have I seen such a good market for buyers.  And with interest rates still at record lows, now is a great time to buy.  And as a seller, if you are buying another home, you too will reap the benefits of this as well.  With the healthy real estate market we've had in previous years, most sellers are still making a healthy return from their sale.  In my opinion, our current market offers opportunities for both.