Jacksonville Real Estate Market Predictions: 2017 Edition

We have a meeting of the minds as to what our predictions will be for the next calendar year.  This year was no different.  We started compiling our list, and made sure to include the "no shit Sherlock" predictions as well as the more "huh - not so sure about that one" predictions.  

• Rising Mortgage Rates:  Yep - it's already happening and will continue to happen as long as we are seeing a stable economy ahead.  
• More Transactions:  It's been a trend year over year since the dog days of the bust years.  
• Price appreciation slows:  I believe we are near the top of our current "arch".  "Current" being the key word there.
• Move Up Buyers are a MAJOR influence this year:  In Jax, we've had too many people S T U K (4 letter word) for too many…

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2017 The Year of The Move Up

We just finished our Radio show for the week, and our topic was a hot one:  

2017, The Year of the Move Up!

Show notes:

Why we believe 2017 is the move up year.......

First we have to understand demand is building.

1. MANY homeowners in Jacksonville have been STUK (4 letter word) for nearly a decade.
1. Not anymore:  Prices are up, and principal balances are down!
2. Katy bar door! With these homeowners finally above water, MANY will choose to make the move this year.
2. MORE Buyers entering the market.
   1. Millennials are coming of age with real income, real families, and real money.  They are deciding to buy their first homes, but they are skipping the small starter homes and often times buying that next level up... which is…

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Mortgage Rates are On The Rise in 2017

Time to make your move in 2017!

If there has ever been a time to capitalize on moving up, this is the time!  

That's right, make your MOVE UP in 2017 and benefit by both selling high and buying low.  How can that be?

1. Selling High:  We have just finished several years of above average real estate appreciation.  In 2016, Jacksonville realized an 8%+ annual appreciation!  Your house is most likely worth more than you think.  Will this trend continue?  No one knows for sure.  There certainly appears to be a rise in overall consumer sentiment, and our local Jacksonville economy is growing so signs are pointing to positive.  
2. Buying Low:  Rates are historically low, which gives you increased buying power.  That's right, you'll be able to buy…

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Impact of Housing Inventory on Home Prices

As home owners, we are all concerned with the values of our homes.  Obviously we'd love if the values always went up, but that hasn't always been the case in the month to month housing market in the Jacksonville area.  Anyone who lived through the housing and stock market crash in the 2007-2008 timeline can certainly attest to the fluctuation in home values.  

Here we are many years removed and many percentage point increases over the lows of 2012.  Many areas of Jacksonville and the surrounding areas have seen great increases in values while others have seen very slow increases or even flat to borderline decreases.  

Why do some areas appreciate rapidly while other areas (very nearby) in the same town, depreciate?

It all comes down to your Econ…

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Infographic Video of Jacksonville Home Appreciation and Depreciation

Wow!  Check out this video on the depreciation and returning appreciation of our Jacksonville real estate market.  Very impressive!

One note to point out:  A slowing of appreciation.  The data is pointing to strong appreciation running up to now, but it's showing a slowing in appreciation which is exactly what we've been talking about in the last few weeks on our radio show:  Real Estate 911 with Brad Officer.  

Video no longer available

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The Millennials Are Coming The Millennials Are Coming

uhhhh  -  I think they are already here!

Millennials: the buzzword to end all buzzwords. 

They’re constantly in the news. Every business from grocery stores to car companies have been asking how to best work with, understand, and market to Millennials for years. 

This group, composed of people 18 to 35, is drawing attention to themselves again by making up the largest percentage of current homebuyers. 

This isn’t actually breaking news. Millennials have made up the largest portion of homebuyers for the last three years, according to the National Association of Realtors.  

Millennials make up 35 percent of homebuyers compared to just over 25 percent for Gen X. Younger Boomers and Older Boomers make up the lowest percentage, each making up…

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How This Home Sold in 6 Days

As a home owner, it's often difficult to figure out which direction to go when selling your home.  You probably know a handful of Realtors in Jacksonville and may even be close friends with a few.  That can make the decision of who to choose when looking to sell your house very difficult.  In fact, we've run into situations where home owners have called us to ask if we could sell their home without agent XYZ finding out (which is near impossible).  ....mostly because they don't want to hurt the agent's feelings.  

IF you were choose the wrong agent, several possible consequences could be the result:

1. The wrong Realtor could leave WAY too much money on the table.

2. The wrong Realtor could take too long to sell and cost you more in added…

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Staging Could Save Your Home Sale

Buyers aren’t just looking for their next house; they’re looking for their next home. However, it can be hard to see that the house, which has been home to you, might not look like home to a potential buyer. 

There seems to be a fine line between making a home look livable and not just lived in. This is where the concept of staging a home comes in. An open house should show a prospective buyer the possibilities of living in that space without making them feel like they’re intruding. For this reason, extensive personal items, photos, and mementos should be limited when staging your home. 

According to the National Association of Realtors, the median price to stage a home is $675.

Realtors who represent buyers report that their clients are…

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Pool Home For Sale in Mandarin 5210 Julington Creek Road

Looking for a pool home in Mandarin?  Isn't everyone!  Well you've found it:  5210 Julington Creek Road is listed for sale!  

All the details, price, map, loan payments, etc. are here

A few notable features of this fantastic home:

• Oversized Lot
• Fenced Yard
• New Roof 2009
• New Carrier AC System 2009
• Pool installed 2006
• Pool & Spa are both heated
• Paver Driveway
• Wood burning fireplace
• Corian Countertops
• Updated bathrooms
• Mega storage in the attic
• Pavered outdoor living space with FIRE-PIT!
• Video security surveillance system stays as installed
• Gas tank via Sawyer Gas to heat your spa
• HVAC heater to heat your pool
• All the Mandarin charm with mature shade trees and lush landscaping
• VERY Well cared…

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Number 1 Secret To Selling Your Home

It's amazing how many homes go on the market for sale and just sit.... and sit ......  and sit ...... and keep sitting.....

They get showings, but they just sit. Unsold.  Still sitting unsold for days.  Those days eventually turn into weeks and eventually into months and longer.  

To rub salt in the wound:  The neighbor's house sells in 4 days!  

The Sellers think:  This is embarrassing!  and then starts thinking,  "why the heck hasn't my house sold?" 

or even further...

WHY THE HELL HASN'T MY HOME SOLD!?!?!?!

Then this thought hits: "It's gotta be my Realtor!"  The Seller talks with their Realtor, and hopefully the Realtor has some suggestions, and hopefully the Seller takes those suggestions and puts them into place immediately.  

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