Davidson Realty, Inc.

What You Paid for Your Home is Irrelevant

December 16, 2013

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Posted by in News, Northeast Florida Market Trends

After more than 20 years in the North Florida real estate business through good markets and bad, this simple truth is proven right time and again:

What you paid for your home is irrelevant.

I understand this is hard for many people to hear because they think their sale price should be based on what they owe on their loan, improvements made to the house, how much they need for a down payment on their next home purchase, etc.  But homebuyers do not care about any of that.  A good Realtor will advise the seller that the price should be based on location, condition, specs (such as size, amenities, etc.) and recent comps.  Another factor is how quickly a seller needs to move. Read more

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A Great End to an Even Greater Year- Congrats to our Top Realtors in December & the 4th Quarter!

January 5, 2012

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Posted by in Top Agents

The final tally for 2011 is in and we’re thrilled to report that business was up over $8 million in sales and over $9 million in closings from 2010 to 2011!  We’re also happy that overall the North Florida real estate market is showing positive signs of continued improvement.  Our hats are off to our incredible team of St. Augustine Realtors, and special Dottie Originalthanks goes to our top performers in December and the fourth quarter of 2011.

Our Top Sales Agent and Top Listing Agent for December is Dottie Lay with almost $300,000 in listings sold and over $1 million in total sales. Seventeen different agents had sales in December for a total of over $4.2 million. Dottie had an amazing close to 2011 and we know that 2012 will take her even further!

MargheriteThe Top Producer for December is Margherite Myers with over $900,000 in closings! Our agents had over $4.2 Million in closings for the month. Margherite was on fire this month selling new home construction in The Cascades – World Golf Village’s premier active adult community.

suzyFor the 4th Quarter, our Top Sales Agent is Suzy Evans with over $1.3 million in buyer sales and over $2.5 million in total sales. Total sales for the quarter were over $16 million. Suzy was also our Top Sales Agent/Top Producer in November and our Top Lister in October.

Mirtha BarzagaThe Top Lister and Top Producer for the quarter is Mirtha Barzaga with over $1.7 million in listings sold and almost $2.8 million in total sales. She had almost $3 million in closings.  Our closings for the quarter were over $14 million. Mirtha was also our Top Lister in November and the 3rd Quarter.

Congratulations to the entire Davidson family for a year of progress!

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North Florida Real Estate Trends – Housing Inventory Approaching Normal Market Equilibrium?

November 28, 2011

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Posted by in Northeast Florida Market Trends

“Before you can learn a new way of doing things, you have to unlearn the old way. So beginnings depend on endings.”– Rick Maurer

Everything has changed over the past few years and we have to learn to adapt. Some things haven’t changed though so when we see declining inventory and improved sales, you might well expect an improvement in the future housing market, especially if we can continue adding jobs in the northeast Florida area. I know the job growth has been slow but our area has started to see growth.

The Northeast Florida Association of Realtors market statistics for October, 2011 continue to show encouraging trends in the market. The pending sales are up 37.5% over October, 2010. The 12 month average for the most recent 12 months is 1,463 pending sales per month compared to 1,357 for the previous 12 months which is an increase of almost 8%.

The inventory of homes for sale in October, 2011 was 10,964 down 31.5% from 15,995 in October, 2010. The inventory has dropped consistently for the last 12 months. The largest drop in inventory is in the less than $150,000 price range at 36.5% however the $500,000 to $999,999 price range also dropped 28.5%. Of particular interest is that over the last year the price range hardest hit in our area ($500,000 – $999,999) has seen the strongest increase in sales with a 30.6% increase. Read more

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Jacksonville, FL Real Estate Trends in May 2011

June 29, 2011

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Posted by in Northeast Florida Market Trends

“Life is not about how fast you run or how high you climb but how well you bounce” Vivian Komori

If you own a business or are connected to the real estate industry in any way, you will enjoy the quote.

The most important trend I am seeing this month is the drop in inventory. The inventory of homes for sale in May 2011 is down 25.8% from May 2010. This inventory level translates into 8.9 months of supply versus a 11.7 months supply for the same period last year. This is a 23.7% drop in inventory. In many popular neighborhoods there are very few properties available for purchase that aren’t already under contract. We need to monitor this trend in inventory levels to better advise both our purchasers and sellers with regard to the pricing outlook.

Pending sales are up. The May 2011 pending sales of 1,756 transactions is 33.9% higher than May 2010. The year-to-date pending sales are 3.3% higher than the same period in 2010. The number of homes going under contract (pending sales) tends to bounce around each month but May 2011 is tied with March, 2011 for the highest amount of pending sales in the last 21 months. Another positive outlook.

Closings are down 10.6% from last May; however, the number of closings year-to-date are up slightly over the same period in 2010. Between lender, appraisal and title issues, it is always cause for celebration when we get a transaction to closing.

Pricing continues to be down compared to the previous year. The median sales price is down 7.9% and the average sales price is down 3%. If you look a little closer, the median sales price of traditional sales is up over 5% and the median sales price of lender-mediated sales is down over 14%. I would also point out that in the northern St. Johns County area the average price currently seems have stabilized around the same price as 6 months ago.

The lender-mediated sales in May 2011 were 49% of closings for the month. If you think this number is high, remember that short sales and foreclosures made up 60% of the closings in February. I believe this number is down because the banks are being more careful with their foreclosure process due to the recent bad publicity.

To sum it up: inventory is down, the transaction activity is up and the prices overall are down year-to-year.

If you have any questions or need any assistance with real estate issues, please give me a call 904-940-5000. I always enjoy talking about real estate.

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November Trends in 2010 for the Jacksonville FL Real Estate Market

December 31, 2010

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Posted by in Northeast Florida Market Trends

“Progress involves risks. You can’t steal second base and keep your foot on first.” Frederick B. Wilcox

This quote captures exactly how I feel about the real estate industry and our Company right now. I see some positive trends and I am planning to start 2011 ALL OUT which is defined as “using all available means or resources.” If we aren’t going to use our resources now, what are we saving them for? It’s time to round second base.

The positive trends in the Northeast Florida Association of Realtors Market Stats for November, 2010 are as follows:

                                      2010 year to date          2009 year to date            Percent change
Pending sales                       15,890                              14,013                                13.4+
Closed sales                          14,548                              13,143                                 10.7+
Days on Market                   103                                    108                                       4.4-

As you can see, Pending Sales and Closings are up year-to-date and the days on the market are down slightly. 

                                    Median sales price 2010                                  Average sales price 2010
September                          $129,950                                                                      $165,855
October                                $135,575                                                                      $168,857
November                           $140,750                                                                     $187,189 Read more

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