Northeast Florida Market Stats | May 2024

June 25, 2024

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“Failure will never overtake me if my determination to succeed is strong enough.” Og Mandino

 

Og inspires me every day. He shares so much wisdom.

 

The Northeast Florida Association of Realtors (NEFAR) May market stats show a slight increase in median sales price and a slight increase in closed sales. The median sales price of $375,000 for all property types is 3.2% higher than last month and 5.6% higher than last year. You may have seen articles that the median sales price went over $400,000, which it did for single family homes.

 

There were 2,604 closed sales in May, which is 3.1% higher than last month, but 8.2% lower than last year. We were seeing good sales activity in early April before mortgage interest rates went back above 7%. The properties that went under contract in late March and early April closed in May.

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The Benefits of a Pre-Inspection

June 24, 2024

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Posted by in News

Sellers may read pre-inspection and think, “Oh goodness, what’s that, another step in the selling process?” A pre-listing inspection is a home inspection that the seller has done before listing their home. Why would sellers want to do this? It can actually provide the seller and the realtor with valuable information that they can use to streamline and improve the selling process. We spoke with Lawrence Petraglia of South Country Home Inspections to learn a little bit more.

 

What are the benefits of doing an inspection before you list your home? Is it worth the money?

 

The benefit of a pre-inspection really comes down to creating a smooth real estate transaction. It’s arming the homeowner with knowledge. Some of the things our certified inspectors look at are the condition of the roof, garage, exterior covering, windows and doors, air conditioning and the overall structure of the home. If we do identify any defects, the seller has time to resolve them. If they’re discovered during the buyer’s inspection, you’re probably about two to three weeks away from the closing date. Now you’re scrambling to find a contractor, and finding the right professionals is not something you want to rush. If we discover a leaky roof, you’re most likely going to have a tough time finding a reputable roofing company that can come complete the job in that timeframe. A pre-inspection allows the seller time to address any issues.

 

Are there any differences between a pre-inspection and the inspection done by a potential buyer?

 

Absolutely none. We’re looking for the same defects and doing everything the exact same way we would for a buyer’s inspection. The report will detail any items or issues that would be considered a safety hazard or a major defect. Some may be an easy fix, others could be quite involved.

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Congratulations to our TOP Producers in April

May 20, 2024

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We are thrilled to recognize and celebrate our top-performing agents for April!  Congratulations to these stellar professionals for their remarkable achievements and unwavering commitment to our customers and our community!  We asked our Top Agents this month “In their professional opinion what is the best value of real estate property in Northeast Florida market right now?”  Please read on as they share their picks!

 

Our Top Producer, Top Lister, and Top Overall Sales Agent for April with over $2.1 Million in closings is Mirtha Barzaga!

Mirtha – I have this listing in Cascades that is move-in ready and priced to sell.  It’s a great size for a 55+ buyer with an extended lanai, newer appliances and much more.

Follow this link to see the page:  https://www.flexmls.com/link.html?1ts5qxy9rkta,15,1  This link is valid until 6/9/2024.

If I was going to buy an investment property, I would look at a townhome with low fees in the low 300k’s with a reasonable HOA (200 to 350 dollars a month) in a neighborhood such as the WGV area that is desirable and where we could command a nice rental income.

Our Top Producing and Top Sales Team for the month is The Nemethy Group!  Shelley & Tim had over 1.8 Million in closings and 1.8 million in pending sales!

Shelley and Tim – 1532 Valhalla Way in The Cascades of World Golf Village is the best value in the community! It is a 55 and older community near golf, shopping, medical and restaurants. This gated community has outstanding amenities which include maintenance of the grounds, indoor and outdoor pools, fitness center, club house, pickleball, tennis, walking trails, activity director and so much more! This 2015 home has 2,517 square feet which includes a glassed in Florida room under heat and air. This gem is a great investment for full time or part time living!

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Congratulations to our TOP Producers in Q1 & March

April 22, 2024

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In the exiting world of real estate, where every deal carries the promise of new beginnings, recognizing exceptional performance and loyalty is important to us here at Davidson Realty. I wanted to take a break from our usual monthly Q & A format with our TOP PERFORMERS and personally brag about them for their accomplishments not only in March but the entire first quarter of 2024.

 

Margherite Myers is our TOP PRODUCER for MARCH! Margherite has been a World Golf Village resident for many years and has been with us at Davidson Realty for almost 15 years now. With her professional guidance and knowledge, she has helped so many people buy and sell homes in our Northeast Florida market. Margherite has been awarded multiple times the Five Star Professional Award: An award that recognizes outstanding real estate agents who show dedication to the customers and professional excellence. It’s no surprise she is TOPS!

 

Mirtha Barzaga is our TOP PRODUCER for the FIRST QUARTER! Mirtha is one of our TOP Agents both in SUPERIOR service and production. She has been Davidson’s Top Lister, Top Overall Sales, and Top Producer in 8 of the last 10 years here at our company. That accomplishment of sustained success in itself proves she is the BEST in the business. Mirtha chose Davidson 17 years ago to embark on her real estate career and we are beyond lucky she did!

 

Shelley & Tim Nemethy of The Nemethy Group are our TOP SALES TEAM for MARCH and our TOP PRODUCING TEAM and TOP SALES TEAM for the FIRST QUARTER! Shelley & Tim are EXCEPTIONAL and have been our top team at Davidson Realty five years running! Shelley joined us first almost 11 years ago creating a successful business model and 5 years after that Tim came aboard making them an unstoppable force! They are seasoned real estate professionals who provide personalized service for all their customers no matter the real estate need. They help customers buy and sell all over, but they live and love the beach lifestyle!

 

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Northeast Florida Market Stats | February 2024

March 28, 2024

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“Baseball, it is said, is only a game. True. And the Grand Canyon is only a hole in Arizona.” – Journalist & Autor, George Will

 

I am very excited about Baseball season starting. It is my favorite time of the year.

 

The February 2024 market review from the Northeast Florida Association of Realtors confirms the ups and downs of our market each month. At least the median price has stayed relatively stable. The median sales price of all property types in February was $359,000. The price has gone up and down monthly but stayed in a consistent range.

 

There were 1,893 closed sales in February, which is up 29.1% from January and down 7.8% from last year. The National Association of Realtors reported that home buyers who paid cash accounted for 32% of home sales in January, marking the highest cash sales since 2014. Many leveraged the equity from a prior sale.

 

There were 1,808 pending sales in February, which is down 15.2% from January and 24.6% from last year. The mortgage rates ticked back up in February after dropping in December, which slowed sales. The average 30-year fixed mortgage rate was 6.78% in February, up from 6.64% in January, according to Freddie Mac’s weekly survey.

 

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