Davidson Realty, Inc.

How Downsizing Your Home Can Upgrade Your Life

May 7, 2021

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Posted by in News, Retirement

If the COVID-19 taught us anything, it’s to appreciate the simple things of life. As millions of Americans have adjusted to a more simplified lifestyle, the notion that ‘less is more’ resonates more than ever before. Downsizing could be exactly what you need to maximize your life. 

 

“Many people downsize once they become empty nesters. Once their children have left the nest, homeowners begin to desire lightening their load,” shares Davidson Realty Realtor ®, Rebecca Schaffer. 

 

Perhaps the most obvious advantages of downsizing are financial. Selling your property with the intention of buying something smaller often means you have more money to afford upgrades in your new home that matter most to you.  But the savings don’t stop there. With less square feet under your roof, you’ll likely be spending less on your mortgage payment, utilities, and maintenance on your home. That extra cash in your pocket each month can help you go on vacations or have other experiences that will make lasting memories. 

 

Less house equals less upkeep. The time you would have spent cleaning and maintaining your home will now be cut significantly. Decreasing your space also means decreasing your belongings. Prior to your move, sort through items and only keep your more treasured pieces. A weight will be lifted off your shoulders as you say goodbye to the clutter and unused stuff that has occupied your space. Donate any items you are no longer keeping to those in need. A few of our favorite places to donate clothes and home goods are: Goodwill, BEAM Thrift, and Hope’s Closet. 

 

With less to worry about inside your home, the more time you can spend outside of your home. Spend your newfound free time to take up a new hobby, travel, and socialize with old and new friends. Northeast Florida is the perfect place to truly relax and live your best life. “Many downsizing buyers are taking advantage of Northeast Florida’s fifty-five and older communities for an active and social lifestyle. While others are opting for the beaches for a leisurely pace,” shares Davidson Realty Realtor ® Shelley Nemethy. 

 

From the beaches to the historic neighborhoods, there is something for everyone to enjoy. If you are interested in maximizing your life by minimizing your home, call the Northeast Florida real estate experts at Davidson Realty at (904) 940-5000.

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4 Ways to Sweeten the Deal When Buying a Home

May 5, 2021

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Posted by in News, Northeast Florida Market Trends

The real estate market is unlike anything we’ve seen before. Inventory is low, demand is high, and homes are flying off the market! “With the current market conditions, listings are receiving multiple offers and buyers need to be ready to act fast with their best offer when they see a listing they love,” shares Davidson Realty President, Sherry Davidson. In such an intensely competitive market, trust the real estate experts at Davidson Realty to help you put your best foot forward with these strategies. 

 

Get Pre-Approved for a Mortgage

The first thing you should do when you decide to purchase a home is obtain a pre-approval letter. A pre-approval letter not only states what a lender is willing to lend to you but shows the seller you are serious and prepared to purchase a home. A pre-approval letter shows legitimacy and a sign of good faith that they can afford to buy the home. Sellers are more likely to select an offer that is pre-approved than one that is not. 

 

Eliminate Contingencies

A clean offer is extremely attractive to sellers. “Any contingencies you have in your offer could be a negative to the seller. Sellers want a low risk and speedy closing,” shares Sherry. Appraisals are often a major cause of home sales falling through. Eliminating this step allows for a smooth sale process with minimal chance of things going wrong. As the buyer, you are effectively taking the risk off the home seller and putting it on to yourself. 

 

Make an All-Cash Offer

All-Cash offers provide the unique opportunity of keeping the sale primarily between the buyer and the seller. Cash offers tend to be stronger than offers utilizing traditional financing because they are less risky for the seller. With a cash sale, no appraisal is necessary since there is no mortgage lender involved. The absence of a mortgage lender also allows for a quicker closing. A fast timeline is advantageous for sellers because the sooner they close, the sooner they get paid.  

 

Be Flexible

Including a flexible timeline in your offer can go a long way with sellers. Depending on the sellers’ situation they may need more or less time in the home than the traditional 30-day closing period. If you are not in a hurry to move, being as adaptable as possible will be to your advantage as the sellers will then be able to decide what works best for them. This can go a long way, especially if competing offers come with strict deadlines. 

 

If you are ready to begin the search for your next home, call Davidson Realty today to help you get started. 

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REAL ESTATE MARKET UPDATE

April 23, 2021

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Posted by in News, Northeast Florida Market Trends

“God could not be everywhere, and therefore he made mothers.” Rudyard Kipling

 

I wish every mother a Happy Mother’s Day!

 

The Northeast Florida Association of Realtors market stats for March shows 3,782 homes available for sale compared to 9,484 last March, a 60% reduction. It appears the low supply of homes for sale, high buyer demand and rising prices will be with us for several years.

 

The single-family home for sale inventory peaked in 2007 with about 3.7 million homes available nationally and has been dropping since then to 1.07 million homes currently.

 

A great article from The Mecklenburg Times cites the reason for continued buyer demand as low household formation rates following the Great Recession. If the historical household formation rate had continued after the recession, there would have been 5.7 million more households formed.

 

“The mid-2000s financial collapse began a domino effect. Roughly $6 trillion in real estate equity vanished during the housing crash, impacting the ability of many families to pass down wealth to their children. Young people who finished school around the late 2000s faced a soft job market, which can have long-lasting effects on a person’s finances and their ability to start a new household. Previous Zillow research has shown it takes about six years for homeownership rates of those who graduated college during a recession to catch up with those who graduated during better economic times.”

 

The last two years had shown that when the economy is good and most Americans have access to decent jobs, more of them are able to find a home of their own. More Millennials are turning 33 which has been the age most are marrying and starting families. This trend should continue rising for the next three to four years. Add to this the retiring Baby Boomers who are downsizing and the COVID-related moves where people can work from anywhere. The demand should continue for several more years at least.

 

The supply is tight and the demand is strong, so prices are rising. The median sales price is $274,900 up 12.7% over last March. The average sales price is $344,643, up 20.4%. Many buyers are offering to pay more than list price to get the offer accepted among multiple offers. The percent of properties sold over list price spiked 102.1%. In March 2020 14.2% of properties sold over list price and in March 2021 28.7% paid over list price.

 

It is a seller’s market, so if you are considering selling, we are happy to assist you. If you are interested in buying, we are finding ways to get offers accepted. Thank you for your continued trust and please let us know if we can help in any way. Happy Mother’s Day!

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Meet Isle of Palms’ New Custom Home Community – The Cove

April 21, 2021

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Posted by in Featured Listings, Featured Neighborhood, Neighborhoods, New Home Construction, News

Interested in waterfront living in a secluded community, yet in a convenient location? Look no further than The Cove at Isle of Palms, a private, gated community off San Pablo and Stacey Road in Jacksonville, Florida with eight homesites located along the Intracoastal Waterway. Enjoy coastal living at its finest with luxury custom homes starting at 2,800 square feet and $1.3 million. From the stunning Coastal style architecture to the community dock and private boat slips, The Cove is the perfect place to embrace outdoor living. 

 

Coastal living will truly come to life in every way at The Cove. Homes will be styled with metal roofs, light color palette exteriors, and elevated outdoor living spaces that allow for a seamless transition from indoor to outdoor living. Residents will be just steps from the Intracoastal Waterway where serenity will travel from the water to your backdoor. 

 

While enjoying a small, intimate community, homeowners will have the added perk of living in one of the most convenient locations in the city of Jacksonville. The Cove is located one mile from Mayo Clinic, four miles from the beaches, nine miles from St. Johns Town Center, and only twenty-six miles from Jacksonville International Airport. The area immediately surrounding The Cove has everything you need from your choice of grocery store and restaurants to gyms and parks. “The Cove will set the perfect scene for the ‘last-of-its-kind’ custom home community in Isle of Palms. This community will be a beautiful addition to the area. Davidson Realty is excited to be a part of the process and proud that our agent, Suzy Evans, will represent Davidson Realty with her homesite listing in The Cove.” shares Davidson Realty President, Sherry Davidson. 

 

Collins Builders will be the construction talent behind this stunning new community. “Collins Builders has been involved in The Cove project since the early stages of development. No one knows the property better than we do. Our reputation in the area and our white glove service combined with an organized and timely home building process will provide a custom home building experience that is second to none,” shares Chief Operating Officer of Collins Builders, Tim Calderala. For more than two decades, Collins Builders has built quality custom homes in Northeast Florida. At Collins Builders providing an exceptional customer experience is their goal. The design team at Collins Builders uses the latest technology to ensure clients are confident and comfortable during the custom home building process. “Our dynamic in-house architecture team uses virtual renderings to bring the space of your dreams to life. Collins Builders is honored to help residents of The Cove build their dream home,” continues Calderala. 

 

With only eight homesites and limited opportunities to build on the Intracoastal Waterway, the time is NOW to make The Cove your home. Whether you are a boat enthusiast or desire luxury coastal living, The Cove is ready to welcome you home. For more information and to schedule a tour of The Cove, contact Suzy Evans at (904) 347-5447 or evans@suzysells.com. 

 

https://my.flexmls.com/suzysells/search/shared_links/4oARp/listings/20210330205905658178000000

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4 EASY WAYS TO INCREASE THE VALUE OF YOUR HOME

April 14, 2021

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Posted by in News

Increasing the value of your home is ALWAYS a good idea. Staying on top of home maintenance and projects will ultimately allow you to get top dollar for your home when the time is right for you to sell. “Homebuyers will appreciate that you took good care of the home and will happily pay more for a home when they don’t have to make major changes themselves,” shares Davidson Realty President, Sherry Davidson. 

 

Curb Appeal

First impressions are important! Continually spending time on your landscaping and the outward appearance of your home will enhance your curb appeal. Luckily, yard care is relatively inexpensive and depending on the current state of your yard, could be tackled simply with fresh mulch or a few new flower beds. Walkway lighting is another easy and affordable way to elevate your curb appeal while providing a functional illuminated path to safely use your walkway at night. Additionally, routinely walk around the exterior of your home and look for any cracks or damage that needs repair. 

 

Fresh Paint

A fresh coat of paint can truly transform a home. Whether you are interested in selling your home this year or in ten years, routinely examining and updating the interior can make your home more attractive to potential buyers. When selecting a paint color that will appeal to an extensive audience, pale gray, oatmeal, and other cool, natural tones are current fan favorites because of their adaptable nature and ability to enlarge and brighten spaces. Some of our favorite paint colors include Snowbound and Passive from Sherwin Williams. 

 

Energy Savings 

Energy-efficient upgrades not only help the environment but save homeowners money and time by requiring less maintenance. Consider switching to energy-efficient light bulbs or installing a smart thermostat that will learn your preferences and automatically adjust the temperature to save energy. Adding more insulation is another way to improve energy efficiency in your home. Good insulation will keep your home warm in the winter and cool in the summer while using less energy. 

 

Cosmetic Touch-Ups 

If you make repairs and improvements as needed, you will avoid bigger, more expensive projects and ensure your home is well maintained. “Your home is one of your most expensive assets. When buyers see items that need to be repaired or maintained, they question if the home has been well cared for. Buyers will pay retail versus wholesale prices for an updated and well-maintained home,” shares Sherry.  Patching up holes and dents in walls or moldings, fixing a squeaky door, or repairing a running toilet are easy DIY repairs that will refresh your home.  Replacing the hardware in your kitchen or updating ceiling fans or light fixtures are small updates that will make a HUGE impact. 

 

If you are interested in learning more about the value of your home or are interested in selling your home, trust the real estate experts at Davidson Realty.

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