Davidson Realty, Inc.

The Northeast Florida real estate trends remain positive in October!

November 25, 2019

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Posted by in News, Northeast Florida Market Trends

The Northeast Florida Association of Realtors market stats for October 2019 show continued strong buyer demand, prices increasing more slowly, and inventory of available homes continuing to decline.

 

There were 3,507 new listings in October which is 2.6% higher than last October and a year over year increase of 0.6%. However, the inventory of homes for sale of 8,807 is down 11.9% from last October.

It is the lowest inventory level since March 2018.

 

A Realtor.com article says, “National listing inventory continued to decline in September, posting a 2.5% year-to-year decrease – a faster rate of decline compared to August’s 1.8% decrease. Driven by strong demand and short supply, entry-level homes priced below $200,000 have been steadily decreasing since May 2014, a trend that continued in September with a yearly decline of 9.8%. Mid-market homes priced between $200,000 and $750,000 – the largest segment of inventory – flatlined in September with 0% growth, and they’re poised for their first decline next month.”

 

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Think all property managers are the same? Here are 6 ways Davidson is different!

November 13, 2019

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Posted by in Neighborhoods, News, Northeast Florida Market Trends

When you rent out your home, it can be easy to fall into the idea that all property management companies are essentially the same. They locate and screen tenants, collect rent and handle issues that arise during the lease.

 

 

However, how well property managers juggle these tasks varies widely! Here are six of the many ways your experience with Davidson Property Management (DPM) will be different:

 

1.) Our rental team: Unlike many companies in which property managers show their own properties, our team consists of staffed rental agents that are designated to show the rental properties. This makes it much more accessible to show the property, which makes your home more marketable and gets you a renter more quickly.

 

2.) Higher rental commission: For DPM managed properties, the rent commission is double what most other companies offer. How does this benefit our homeowners? It motivates agents to find great tenants and rent your property faster!

 

3.) 24/7 access: While some property management companies limit response times based on business hours, our team guarantees a timely response no matter the issue or question, and any time day or night.

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4 important questions to consider when upsizing your home

November 6, 2019

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Posted by in News, Northeast Florida Market Trends

At some point in our lives, most of us find the need for more space. The next logical step is to move to a home with more square footage. But there are several important questions that should be addressed before you start looking for a bigger house.

 

Why do I need more room?

 

Whether you are growing by people or acquiring more stuff (or both), your space needs will differ. Many families are growing and looking to accommodate more children. That means you need additional bedrooms, bathrooms, a larger living room and perhaps a larger yard to accommodate a swing set and trampoline.

 

Maybe an elderly family member is moving in or you have frequent guests. In that case, you may want to seek out homes with a separate suite or an apartment above the garage. Have you started a business that requires more space? Plan for another room to accommodate your office or perhaps a larger garage for your new company’s inventory.

 

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The Northeast Florida real estate trends remain positive in September!

October 28, 2019

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Posted by in News, Northeast Florida Market Trends

The Northeast Florida Association of Realtors market stats show buyers are responding to the low interest rates available with pending sales of 2,396 for September. Pending sales are up 2% over last September
and 6% year-to-date. There were 2,500 closings in September which is up 7% month-over-month and 5% year-to-date.

 

The median sales price of $235,000 is up 8% month-over-month and 4% year-to-date. The average price of $272,154 is up 6% month-over-month and 3% year-to-date.

 

New listings of 2,963 are down 7% from last September, but we are almost even year-to-date. The inventory
of homes for sale dropped 12% from last September to 8,920 homes. The months supply of homes for sale dropped 15% to 3.4 months.

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Is a Down Payment Assistance loan right for you?

October 15, 2019

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Posted by in News, Northeast Florida Market Trends

Not having enough cash to make a down payment on a home is a common concern. But it doesn’t have to be the end of the road! I recently spoke with Mark Sherman of Atlantic Trust Mortgage, who provided valuable insights on another option: a DPA (Down Payment Assistance) loan.

 

Mark said in addition to understanding the ins and outs of traditional loan products (e.g. Conventional, Jumbo, USDA, VA, FHA), mortgage brokers are also responsible for being well-versed in a variety of niche and first-time homebuyer products. This includes knowing how and when these alternative products are valuable to buyers.

 

Key among these products is the DPA loan. Though there are 3% down, 3.5% down and even 100% conventional, government and USDA financing options, some buyers still can’t cover the down payment and closing costs. However, they might have good credit and the necessary income to qualify for the monthly payment.

 

For these buyers, Mark says the DPA portion of their financing is provided as a “second” mortgage “grant” that requires no payment (or a reduced interest-only monthly payment). Then they can apply the funds from their “grant” to their down payment and closing costs. In many cases, the buyer needs no cash at closing.

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