Davidson Realty, Inc.

The May Market Stats Show Increasing Pending Sales & Closing

June 26, 2019

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

The Northeast Florida Association of Realtors market stats for May 2019 show increased pending sales and closings. Prices continue to rise, but at a slower pace than the previous few years. Home sales had weakened late last year when interest rates on mortgages spiked, but the declining rates and strong economy in Northeast Florida have the numbers outpacing 2018 year-to-date.

 

There were 3,114 contracts written in May which is up over 5% for the previous May and year-to-date. There were 3,091 closings in May which is up over 4% month-to-month and year-to-date. The median sales price of $232,000 is up 2% year-to-date. The average sales price of $276,429 is up 1% year-to-date.

 

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How to Find Your Ideal Square Footage

June 25, 2019

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

New construction homes in the U.S. continue to inch a little larger each year, however the number of family members in the average household remains steady. This leaves many buyers scratching their heads and asking, how much house should I buy?

 

Since all residents generally meander around the entire house, estimations are individual and approximate. Some online sources estimate as high as 1,000 square feet per person while others dip down to 100 square feet per person. Many estimates fall around 500 square feet per person.

 

One Atlanta architect recommends calculating a ratio between bedrooms and living space. He said, “A rule of thumb that we have is: for every bedroom, you need to provide places for two people to sit in the dining area and living area.”

 

Before you start doing any math, there is another huge consideration: how much is right for you.

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What’s the best time to refinance? Use this simple rule of thumb

June 24, 2019

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Posted by in News, Northeast Florida Market Trends

As mortgage professionals, we are often asked about refinancing, especially at times like these when interest rates are historically low.

 

In addition, every time you turn on your television or go online, you are bombarded with advertising encouraging you to refinance now! But when should you consider refinancing?

 

In a normal interest rate environment and in Florida, the “rule of thumb” is that if you can reduce your rate by 2%, and plan to stay in your home for more than 2 years, you will begin to realize some actual savings. The math is simple:

 

On a 30-year fixed rate loan of $200,000 at a 6% interest rate,your payment (principal + interest) would be $1,199.10.

If you secure a new rate of 4% on the loan, your payment would go down to $954.83. That is a payment reduction of $244.27 a month.

Over 24 months, that’s a net savings of $5,862.48!

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New construction or existing home: 3 not-so-obvious questions

June 11, 2019

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Posted by in Agent Feature, New Home Construction, Northeast Florida Market Trends

When you move to the First Coast, you have some decisions to make. Will you move to the city, suburbs or beach? Will you choose Jacksonville, St. Augustine or another nearby town? And of course, will you look for an existing home or new construction?

 

Each of these decisions comes down to personal preference, plain and simple. It’s often said newly constructed homes cost more now but may be less costly than older homes in the long term. Beyond the numbers, there are other fairly obvious differences—aesthetics, access to amenities and good schools, appliance warranties, neighborhood, and so on.

 

Here are three important but not-so-obvious questions that may help you decide:

 

Do you want more house or more yard?

While there are certainly exceptions, many existing homes tend to be on larger lots and boast less square footage inside. The average home built in 1990 barely broke 2,000 sq. ft. while homes built today average nearly 2,700 sq. ft.

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Our Davidson team had a great month with over $9 Million in sales! Congratulations to our May TOP Producers

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

May is a great month with graduations and end of school year activities and lots of summer vacation plans in the works. Even with all the busyness, real estate activity was very strong.

 

Our Davidson team had a great month with over $9 Million in sales as we continue to help 400 families this year.

 

 

Our Top Producer for the month with $1 Million in closings is Mirtha Barzaga. Mirtha loves to help customers with new construction. She is familiar with all the builders in the area and provides great value in selecting the right community and the right builder for her customers.

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