Davidson Realty, Inc.

10 Reasons Boomers Like Me Choose to Live in North Florida

December 23, 2010

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Posted by in Retirement

There’s good reason that Florida’s population continues to grow, by as many as 800 each day. In fact here are 10 reasons Florida, and especially the North Florida region, is a great choice for retirement.

1. North Florida is less crowded and less congested than South Florida.

2. Cost of living:  Florida has no state income tax, and in general our cost of goods is on par or lower than many other metro areas, as is our property taxes. 

3. Real estate prices are at an all time low.  There are great “deals” to be had right now – our World Golf Village and surrounding St. Augustine and Jacksonville markets are “on sale” for now but probably not too much longer.

4. We are packed with recreational amenities, including numerous golf courses (my personal favorite is the King & Bear at World Golf Village, but the TPC at Sawgrass is another standout); boating and fishing opportunities thanks to one of the largest rivers in North America, the St. Johns River, several lakes, creeks and of course the Atlantic Ocean; and home to the Jacksonville Jaguars NFL team.

5. Our top-notch medical facilities include the Mayo Clinic as well as teaching hospitals at UF Shands.  Some of the best & brightest are involved in the healthcare system in and around Jacksonville & St Augustine.

6. Several 55+ communities offer an active retired lifestyle here, whether you’re looking for a condo or single family home.  One well-located and affordably priced option is The Cascades in World Golf Village. Read more

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Learn about the Latest and Greatest Flooring & Home Design Trends at the Davidson Speaker Series on October 28th

October 11, 2010

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Posted by in Events, Speaker Series

Have you seen the new ceramic tile flooring that looks like planks of hardwood?  Two of my neighbors recently installed it in their homes and I’m having major bouts of floor envy!    You bet I will be asking Richard of About Floors N’ More all about it at the next Davidson Speaker Series.  We hope you’ll join us too on Thursday, October 28th at 7:00 pm as Richard Scherzer from About Floors N’ More presents “Updating Your House” as part of our ongoing Davidson Speaker Series. Richard will discuss bathroom remodels, kitchen remodels, new types of flooring, the latest products, home fashion trends, and what to avoid when hiring a contractor. He can also answer  burning questions like Which type of flooring will best stand the test of time?, What tile trends are hot for bathrooms?, Which kitchen counter surface is most resilient? and What new trends should I jump on before my neighbors?. 

The Davidson Speaker Series is a monthly event held at the Davidson Realty office at World Golf Village. It is free to the public. The Davidson Speaker Series was started by Sherry Davidson, President, Davidson Realty, Inc. so that local professionals could share their expertise with neighbors from World Golf Village, Palencia, Murabella, Kensington, Heritage Landing and the surrounding community. Wine and cheese are served and the event is held at the Davidson Realty offices, located at World Golf Village just across from Publix.

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SHORT SALE SUCCESS: A TRUE STORY

September 27, 2010

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Posted by in Distressed Properties, Short Sales

A homeowner facing a huge increase in her mortgage payment.

Short sold a home in World Golf Village.

Never missed a mortgage payment.

Process took about 30 days.

Seller bought a new, more affordable home just 6 months later.

No tall tale here. This is a true story of how a well-executed short sale can have a happy ending. Della Myers, a Real Estate Agent herself, saw the writing on the wall. Her 2004 purchase of a World Golf Village home was at the height of the market. The lender assured her that she could simply refinance (buoyed by all the equity she would gain from the robust market) before her low monthly “teaser” rate adjusted dramatically higher.

But the market changed. Della tried to get out in front of things. She knew her rate adjustment was coming and she would not be able to afford it. She put her home on the market but to no avail. She lowered the price and re-listed it. Again no bites. She couldn’t refinance because her home’s value was plummeting and would eventually end up appraised for about 50% less than she paid. Della knew a Short Sale, when the lender/bank agrees to take less for the home than the original loan value in order to avoid foreclosure, was her only hope. Read more

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SURPRISE! You Now Owe…

June 18, 2010

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Posted by in News

You close a brand new home mid-year that was still under construction on January 1st when the county assessed the house for the current year. Obviously, the house is not going to appraise at fair market value because it is not finished. Unfortunately, many people aren’t aware that your payments are about to sky rocket.

Your escrow company requires a monthly payment based on the current home assessment (or a prior year tax assessment), but it is an unfinished home, so the amount may be based on just the fair market value of the home site alone. When the home is completed and the new tax year arrives, the value of the home on the tax roll will change to the current assessed value by the tax appraiser.  Therefore, this will be a higher figure than the property was assessed for in the previous year. The homeowner’s mortgage company will get the new assessment from the tax appraiser and will increase their payment according to the increased assessed value. Read more

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Updates on Short Sales from the CDPE Momentum Convention

June 9, 2010

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Posted by in Distressed Properties, News, Short Sales

untitledAt the end of May, I was fortunate to go on a road trip with Davidson Realty’s Short Sale Coordinator Cindy Vaughn to Tempe, AZ to attend the Certified Distressed Property Expert (CDPE) seminar. We had a great time and learned a lot. There were many great speakers and I wanted to share some of the comments I found most interesting.

Rick Sharga from Realty Trac Inc. talked about three waves of foreclosures. The first wave of foreclosures occurred when employment was strong and the economy was growing. These foreclosures were caused by the sub-prime loans. The second wave of foreclosures was caused by unemployment. They estimate that there is 1 foreclosure for every 6 to 10 jobs lost. The third wave of foreclosures is mainly due to Option Arm loans resetting. Many people will see payments rise by $1,000 to $1,500 per month. The resetting Option Arms will peak in 2011.

Matt Vernon from Bank of America spoke about improvements to the short sale process using a new technology called Equator. Just to give you an idea of their volume of short sales, in March 67,000 short sales were initiated and 64,000 decisions were made. They have made major improvements in the time frame for approvals; however, Matt pointed out that only about 10% of the loans are owned by Bank of America. Most of the approvals have to be made by an investor and some investors respond more timely than others. Read more

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