Click the video below to watch a recording of the webinar from Friday, September 18, 2020. Connect with us at www.FloridaNetworkRealty.com or call (904) 296-6400 with any questions you have regarding the webinar or if you would like a complimentary real estate review.
The post State of the Real Estate Market Webinar Recording 9/18/2020 first appeared on Real Estate Jacksonville.
Berkshire Hathaway HomeServices Florida Network Realty Offers Trusted Guidance and Expertise
The real estate market in Northeast Florida is thriving. Record low interest rates are motivating buyers while limited homes available for sale and price appreciation are providing sellers with a unique opportunity to maximize their homes’ value and earn more profit. During the month of August, 26 percent of homes in Northeast Florida sold over list price.
Berkshire Hathaway HomeServices Florida Network Realty Realtor Zack Williams received seven offers on his Montclair Drive listing, which went under contract in three days and sold for $5,000 over the $365,000 listing price.
There were eight offers for Realtor Sarah Rothstein’s listing on Invermere Boulevard, priced at $189,000.
Realtor Julia Fattahi received multiple offers for her listing on Woodmere Drive in Jacksonville, which sold for $600,000 after only four days on the market.
For prospective buyers, historically low interest rates are providing more buying power. For every one percent increase in interest rates, a buyer’s purchasing power declines 10 percent. In this market, rates are down 1 to 1 ½ percent over last year, increasing buying power by 10 to 15 percent.
For sellers, the current market with its limited stock of homes is beneficial. Inventory of homes available for sale is down 35 percent over this time last year, which is driving price increases. Most sellers, if their home is well priced, in good condition and in a good location, will make between five to 15 percent more on the sale of their home than they would have at the beginning of this year. In Northeast Florida, the average sales price increased 10.2 percent over this time last year.
While it’s sellers who have the market advantage right now, there are opportunities for buyers to benefit. Buyers are encouraged to get pre-approved for a loan before house hunting, making it possible to present a clean offer than can compete with cash offers in this competitive market.
“Obtaining a mortgage preliminary approval as early as possible is a great place to begin when buying a home,” said Prosperity Home Mortgage Regional Market Manager Eric Spottswood. “At Prosperity, we want to help you find the best program for your home purchase while delivering an extraordinary customer experience.”
Prosperity’s Buyer Advantage program is no cost and no obligation for buyers and ideal for this real estate market. By electing to participate, a prospective buyer can get much of the home financing process out of the way and obtain a Commitment Letter before they begin searching for a home. Having a Commitment Letter gives clients an advantage in competitive bid situations and also makes the lending process faster and more stress free for all involved. For more information on Prosperity Home Mortgage, visit www.PHMLoans.com.
The market forecast indicates this strong sellers’ market will not last forever. Experts anticipate the market will settle down to a more normal pace by the end of the first quarter of 2021. Prospective sellers are encouraged to act quickly if they are considering selling their home. Connect with a Berkshire Hathaway HomeServices Florida Network Realty Realtor who can assess your home’s true market value and offer guidance to bring it to market. To learn more, visit www.FloridaNetworkRealty.com.
Photography:
Written by Clockwork Marketing
The post Northeast Florida’s Real Estate Market is Booming first appeared on Real Estate Jacksonville.
Berkshire Hathaway HomeServices Florida Network Realty is pleased to welcome Georgina Beharry to the Fleming Island/Orange Park office.
Georgina joins Florida Network Realty with a strong background in sales and marketing. Prior to obtaining her real estate license, Georgina was the Owner of Topiary Beauty Supply. As a business owner, and now as a Realtor, Georgina’s main focus has always been centered on making her clients feel comfortable and at ease.
Discipline, attention to detail, and forming strong bonds with her clients are Georgina’s core values, and she loves the opportunity to help her clients find their forever home in Northeast Florida. When asked why she became a Realtor, Georgina states, “I’ve lived and worked in Northeast Florida for seven years, and I love the neighborhoods and communities around Fleming Island. I became a Realtor because I want to build lasting relationships with my clients, help families see the potential in each property, and ultimately to find my clients a house that they can call home, in a community that they love.”
“I am excited to welcome Georgina to the Fleming Island office – our team just became stronger! Georgina is going to be a great addition to the Florida Network Realty team, and we look forward to working with her,” shares Linda Benson, Broker/Manager of the Fleming Island/Orange Park office.
For more information, Georgina Beharry can be reached by phone at 772.240.9821 or at Georgina.Beharry@FloridaNetworkRealty.com and website: GBeharry.FloridaNetworkRealty.com. The Fleming Island/Orange Park office is located at 3535 Highway 17, Suite 10, Fleming Island, FL 32003.
Berkshire Hathaway HomeServices Florida Network Realty is pleased to welcome Dana Cotton to the St. Augustine office with locations in St. Augustine Beach and Murabella at World Golf Village.
Dana joins Florida Network Realty with a strong background in sales and management. Prior to becoming a Realtor, Dana was the Manager at a popular bicycle shop on St. Augustine Beach. In addition to this, Dana owns her own photography business, and she is eager to use her creative skillset to help clients find their dream homes.
When asked why she became a Realtor with Florida Network Realty, Dana states, “I pride myself on being a very driven, creative, passionate and motivated person who loves to help others, and my work as both a photographer and a Realtor allows me to fulfill this goal. When I was looking for a brokerage to work with, Florida Network Realty drew me in immediately – the atmosphere is encouraging and uplifting, and I feel confident of my success in Real Estate with this team supporting me.”
In her spare time, she enjoys paddling wild Florida, swimming, body boarding and learning to surf in the Sea, disc golfing and continues to photograph Florida’s flora fauna, and architecture.
“Please join me in welcoming Dana to the St. Augustine office of Florida Network Realty! Whatever your real estate needs may be, Dana will provide the special attention and unwavering loyalty that one expects and deserves. I’m excited to have her on our team,” shares Tracy Glochau, Broker/Manager of the St. Augustine and Murabella at World Golf Village offices.
For more information, Dana Cotton can be reached by phone at 904.671.2415 or at Dana.Cotton@FloridaNetworkRealty.com and website: DCotton.FloridaNetworkRealty.com. The St. Augustine offices in St. Augustine Beach and Murabella at World Golf Village are located at 112 Sea Grove Main Street, Suite 210, St. Augustine Beach, FL 32080 and 196 Capulet Drive, Suite 3, St. Augustine, FL 32092.
