Davidson Realty, Inc.

The Northeast Florida February 2020 Market Stats Show the Same Positive Trends.

March 25, 2020

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Posted by in Ask Sherry, News, Northeast Florida Market Trends

 

As I write this letter, there is a lot of uncertainty and concern over the Coronavirus. I do not pretend to know the impact we will see on the real estate market or the economy, but I know God is in control and I will take one day at a time.

 

I can tell you the Northeast Florida Association of Realtors market stats report for February 2020 shows the same trends I have been repeating every month. Pending sales, closed sales, median and average sales prices are up and inventory of homes available is down. These are all very positive trends.

 

From the NEFAR report, “The recently released January ShowingTime Showing Index saw a 20.2 percent year-over-year increase in showing traffic nationwide. All regions of the country were up double digits from the year before. As showing activity is a leading indicator for future home sales, the 2020 housing market is off to a strong start, though it will be important to watch the spread of COVID-19 and its potential impacts to the overall economy in the coming months.”

 

There were 2,743 contracts written and pending sales were up 10.3% month-over-month and year-to-date. There were 2,201 closings which is up 4.1% for the month and 6.7% for the year.

 

The median sales price is $239,700 which is up 6.6% over last February and the average sales price is $287,068 which is up 12.2% for the same period.

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Fed Rate vs Mortgage Rates……what gives?

March 23, 2020

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Posted by in News

Ah yes! This has been a popular topic since the Federal Reserve’s emergency rate cut to a range of 0% to .25%.

 

Coming off March 9 mortgage rates that were at historic lows to—not even four days later—being about a full percentage point higher, the Fed again cut the rates on March 15. This is what’s going to send mortgage rates to guaranteed rock bottom lows, right?

 

In the words of famed football coach and broadcaster Lee Corso, “Not so fast my friend!”

 

The Fed Funds Rate deals more directly with short-term rate items like credit cards, savings rates and bank-to-bank short-term loans. You may see a credit card APR go down (YES!), but generally, the Fed rate is not a consumer lending rate.

 

Although the mortgage rates have a tendency to mirror the direction of the Fed Funds Rate, it is never a direct correlation.  Remember, the Fed Funds Rate is for short-term rates and mortgages are not short-term.

 

So, what IS going to happen? 

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Knock out your springtime home maintenance before it gets too hot!

March 17, 2020

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Posted by in News

Spring officially starts on Thursday and now is the perfect time in Northeast Florida to take assessment and make sure your home is ready for the hotter months. Once daily temperatures hit the 90s and above, and hurricane season starts (June 1), you will want to have it all done.

 

This might not seem like much fun but waiting can ensure your current small issues will turn into big (expensive) problems later. Here is a simple checklist to make sure your home’s exterior is warm-weather-ready from top to bottom.

 

Start from the top

  • Roof – Inspect your roof for missing, loose or damaged shingles and leaks as well as chimney damage. You can either climb onto the roof yourself or stand across the street with a pair of binoculars and inspect each shingle. You may get funny looks doing the latter, but it’s much safer! If you see any issues, call a roofer to fix them right away.
  • Gutters – Remove leaves and debris from gutters and downspouts. Make sure downspouts face away from the house and don’t collect rainwater at the bottom, which attracts mosquitos.

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Congratulations to the top producing agents at Davidson Realty for February 2020.

March 6, 2020

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Posted by in News, Top Agents

I would like to recognize our entire team for a great February with over $9 Million in closings.

 

The Top Producing, Top Sales and Top Listing agent for the month is Mirtha Barzaga. Mirtha helped 6 families make a move this month for a total volume over $2.5 Million. Mirtha supports Nease High School ROTC and band programs in addition to many other local causes.

 

 

 

The Top Producing Team for February is Dana Usrey and Deborah Shadowen, a great mother-daughter team. Dana and Deborah are very active in the local schools and involved in Davidson Realty’s “Deck the Chairs” entry every year.

 

 

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Top 3 mistakes sellers make (and how to avoid them)

March 3, 2020

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Posted by in Agent Feature, News, Northeast Florida Market Trends, Top Agents

There is so much advice floating around about avoiding mistakes as a buyer that it’s easy to overlook the pitfalls and potential blunders of selling. There are a few that stand out to me as some of the most common mistakes that sellers fall into. Here they are, as well as ways you can avoid them.

 

Avoiding repairs and instead offering credit to buyers.

If your home needs repairs, upgrades or just some TLC before anyone will take notice, it can be easy to say, “Gosh, I’d rather just take less money, and they can worry about it after the house is theirs.” This can be a big mistake! The simple fact is that while you may not have the time to deal with it, neither do your buyers. “Time is money” may sound cliché but it certainly applies to everyone.

 

The effect is that potential buyers will likely bring extremely low offers. Instead, I often recommend to sellers to invest in the repairs and get the work done before you list your home to sell. Not only will your home sell more quickly, you are much more likely to benefit financially from the sale. There is nothing buyers love more than a turn-key home!

 

Ignoring initial offers.

It can be tempting to overlook the first offers that come in, but not taking these seriously can be another colossal misstep. While the first offer might not blow your socks off, potential first offers are often very motivated. Perhaps they are in a rush. Maybe they fell in love with your kitchen. It could be your home is near their aging parent’s home. You never know!

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