Davidson Realty, Inc.

Thinking About Real Estate Investing? Avoid These Top 3 Mistakes

December 8, 2010

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Posted by in investment property

We’re seeing a lot of real estate investment activity in the St. Augustine area, and now’s a great time to take advantage of excellent deals and opportunities. But here’s some advice from someone who’s been active in the St. Augustine and Jacksonville FL real estate market for more than 20 years – the top 3 mistakes our real estate professionals see investors make:

1. They don’t understand the current market trends in a specific neighborhood.  I speak to many investors that know a lot about our general market area; however, every neighborhood has behaved a little differently during this market adjustment. You need to be ahead of everyone else in seeing when the prices are declining, becoming more stable and beginning to improve. An investor may avoid a neighborhood because there were so many distressed properties when the reality is that neighborhood has already adjusted and the inventory and prices have stabilized. It is very hard to know what is about to happen in a neighborhood if you don’t spend a lot of time actually seeing the inventory.

2. They don’t know details that aren’t public record. Many investors are interested in condos now because the prices have adjusted even more than single family homes in the Jacksonville area. While condos can be a great investment, your success is more dependent on the other owners and the Association. If you don’t know the rental policies, the potential lawsuits facing the Developer or Association or other issues currently brewing in the Community, your investment may not be as successful. Realtors that handle sales in that Community every day may give you the insights you need to make the best decision. Read more

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Northeast Florida Real Estate Trends in July

August 30, 2010

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Posted by in Northeast Florida Market Trends

This week’s headlines on the historical drop in national home sales certainly didn’t help in creating market confidence.  Closings in the Northeast Florida Association of Realtors (NEFAR) market area in July are down almost 30% from the number of closings in June. I really believe the tax credit is part of the reason for this drop.  It is encouraging to see that pending sales or new contracts being written in Northeast Florida have increased over June.

Out of curiosity I did some research on high-end transactions in the Nease High School attendance zone which includes communities such as Nocatee, Palencia, World Golf Village and everything in between. Since January 2010 there have only been 25 single family homes closed over $500,000. My statistics come from the Northeast Florida Multiple Listing Service and do not include any home listed only in the St. Augustine MLS. Sales of high-end residential homes are still hampered by the lack of consumer confidence and the mortgage lending market.

Here are a couple facts about St. Augustine and  Jacksonville FL real estate in July:

• While the median sales price in the NEFAR area dropped in July, the average sales price in the NEFAR  area showed a slight increase. Unfortunately our primary markets 32092 (World Golf Village) and 32095 (Palencia) showed a decrease in the average sales price. Home price improvement will only be generated by reduced housing inventories and increased job production in the private sector.
• The number of homes available for sale continues to drop. When looking at “for sale” inventories, keep in mind there is a need to segregate listings based on sales price viability. There are many sellers listing their homes high above true market value. These properties are “for sale” but not saleable.
• The inventory of available homes in the World Golf Village is less than half of what it was 2 years ago. In August 2008 there were 258 active listings and in July 2010 there were only 122 active listings. Read more

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Understanding Realtors Make a Difference in Selling Distressed Properties

January 13, 2010

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Posted by in Distressed Properties

Dottie LayI have been working with many homeowners lately that are in a distressed financial situation. They aren’t able to pay their mortgage any longer and are looking at alternate solutions, like a Short Sale and, in extreme cases, foreclosure. Unfortunately, this has become quite a common occurrence, which is why there are so many foreclosures in Jacksonville and the rest of the Northeast Florida real estate market. As the homeowners make these difficult decisions, they feel grief and sadness.  It is my job to help my clients with their real estate transactions, however, as I work with them they become my friends too. And I want to help alleviate their stress and get them to a brighter tomorrow. So I did a little research to get a better understanding of what they are going through. I realized that the stages you go through when you are losing your home are the same stages as when you lose a loved one. After any significant lose, people experience the five stages of grief. They are:

1. Denial and Isolation- At first, you tend to deny the loss has taken place.
2. Anger – You may be angry with yourself for letting the event take place, even if, realistically, nothing could have stopped it. Read more

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Davidson Realty’s 25 CDPEs Help Northeast Florida Homeowners Facing Foreclosure

October 29, 2009

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Posted by in Distressed Properties, Foreclosures, Short Sales

DR CDPEsThe housing crisis and financial crisis in the U.S. are causing tremendous stress and heartache for millions of families across the nation who are affected by the prospect of foreclosure. A majority of those homeowners will endure the foreclosure process without the guidance, assistance or advice of real estate professionals.

Real estate professionals with the Certified Distressed Property Expert® (CDPE) designation have trained extensively to understand the options, solutions and most effective methods for dealing with homeowners facing hardships; and Northeast Florida’s Davidson Realty, Inc. has a Distressed Properties division and 25 CDPEs on staff to provide solutions for homeowners facing hardships in today’s market. Read more

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