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Forbes: Jacksonville #2 city Americans moving to

                                     Click above to watch the video from First Coast News

JACKSONVILLE, Fla.-  Forbes magazine says Jacksonville is the #2 city in America that people are moving to. The magazine cites low unemployment (4.4%) and a low cost of housing as the primary reason people are choosing to move to this area. The Jacksonville Chamber of Commerce boasted about the ranking on their Facebook page.

17 Critical Thoughts Concerning Real Estate for 2017

For SELLERS

1.  "Price it right...sell it fast!"  Overpricing often leads to much angst for all parties. This can be avoided, if a property is priced to sell.

2.  "Do your homework"  Know your property's value. so that you have an objective number in mind. It's okay to challenge that value with a potential broker/agent. A well informed seller are often the best sellers to work with.

3. "Declutter the interior" Home Staging- Whether or not you decide to stage your home is your decision. you need to create an inviting curb appeal.  Walk through the property as if you were the buyer. Keep what works and store, or remove the rest.

4. "Let it Go" While it can be difficult for sellers, try to detach, as much as possible, your emotional connection to the property. Try to view it from the eyes of the buyer. The Broker/Agent can convey the personal history, and add the nuances that ultimately add value to the property. A skilled agent will ask for this insight as a selling tool, and share it when appropriate. This concept is often referred to "Story Telling".  Every seller/buyer is different. It is our job to highlight your property in the best way to the most suitable buyer.

5. "Collaborate" with your agent and strongly consider his/her suggestions. Our goal is to optimize each showing. Leveraging our knowledge with every buyer, as it pertains to the features and benefits of your property are critical in making a lasting impression, and getting a reasonable offer.

6. "Cyber Security"- In today's world of internet hacking and fraud, making sure that all funds "both buyer and seller" are secure is critical. When working with a broker/agent, make sure to ask about the relationship they have with the closing attorney or title company. Has there been a problem or issue with funds transfer in the  past? If so has it been corrected?  Many firms are now updating software to make sure that funds are not diverted, and the loss of funds will not occur.  Unfortunately, in today's world this occurs, and unknowingly the transfer never makes it to the account of the closing office. Fortunately, reliable closing professionals now recognize this issue and are taking measure to ensure the safe transfer of funds. Make sure that your closing office have those measures in place.

For BUYERS

7. "Do your research!"  Create your own checklist of what you are looking for.  Your agent should provide value added insight during your search, but with the depth knowledge that you have available on the internet, get a head start.  This extra work on your part may open new ideas and properties that you may have never considered.

8. "That is our job" Remember that you should be working with an agent that understands your wants, needs and nuances.  If you feel that they are trying to push product to close a sale...find another agent that understands who you are and what you are looking for.  

9. "Know your price range" before you begin making that initial search.  Most sellers now require some of pre qualifying/approval prior to taking an offer very seriously (if at all).  This is so important for all parties involved. The purchasing process can be daunting, and having the assurance that a buyer is pre approved, or qualified can be a great asset.

                                                 

10. "Do your pre financing homework"  Just because a lender advertises a very low rate, does not mean that it is the best option for you.  Many variables are attached in the form of fees and add on's that can affect the bottom line.  Make sure that you work with someone someone who understands your situation and knows which loan options make the most sense for you.

11. "Get your property inspected" Make sure to have property inspections included in your offer.  With new homes, this may not be a big issue, as they often a offer warranties, but some builders have been called out on shoddy construction. I never hear of buyers complaining about the benefits of home/property inspections. This is even more critical with older homes. Sellers may not be aware of forthcoming problems, or worse yet, covered them up.  Again, in my opinion, always get your property inspected by a qualified home inspector.  Most lenders will require this, but some cash buyers purchasing "as is" need to adhere to this option as well.

12. "Settlement" - Once the closing has occurred, you should have an agreement for the move in/out already in place.  I have found that it is most helpful to have the agents involved post closing to make sure that neither party is left to fend for themselves just in case of an unexpected delay or confusion in communications. It happens!  There is nothing worse than having representation and feeling that your trusted agent just took their commission and ran post closing.  Sometimes, the smallest changes can create unnecessary friction between a buyer and seller.  When either cannot reach their respective agents, many times something so insignificant can be overblown.

Additional THOUGHTS

13. "Think before you sink" While real estate has historically moved at a slower pace, both in purchase and selling, as well as value changes, the past decade has certainly been a game changer with many winners and losers during this time period.  My suggestion, "Think before you sink". As markets continue to change (in many cases at a faster pace), in most situations, rushing can work against you.  Their are many variables that may require a fast decision such as an auction, fix and flip and distress related sales.  As most of us realize, markets are local in nature and typical home sales are rarely overnight.  Not to say it doesn't happen (especially in hot markets), but most buyers and seller should have time to think things through.  After all, this is usually one of the biggest investments that you will make.

14. "Location, Location, Location" -  I have heard that phrase my entire real estate career and while the definition may have expanded, the concept is key.  Whether you are seeking a home in an "up and coming neighborhood", moving to a city/area that has been defined as a high growth area, seeking properties in prime locations, or finding that one deal in an otherwise much better neighborhood.  The "location" theory continues to play a key role in many real estate transaction.  Think about what and where is important for you.  Have your realtor research value shifts, and that might impact your decision making. Whether you are buying or selling, location will come up during the sales conversation.

15. "Owning vs.Renting" - Years ago, the goal was always home ownership.  That equation has changed for many.  This is due to  multiple factors  including: affordability, mobility, flexibility, etc.  For the most part, buyers and sellers know when it is time either by choice, or other issues that determine whether or not to buy or rent. Whether you are moving up, downsizing, moving across the country or just experiencing a new area in your journey, today,  buying and renting can provide options for both the short and long term.  My personal philosophy is "you will know when it is right".  They both offer very different benefits.  It really is important to consider the options and benefits when making a purchasing or decision to sell.

16. "Real Estate Investing" -  Real estate investing can prove to be a very rewarding experience for so many.  At the same time, it's not for everyone.  For investors, building a portfolio that they can fall back on later in life, or simply buying, holding and flipping in a few short years can yield great returns.  As you think about your investment portfolio, or are considering real estate investing for the first time, like every investment, do your homework, and understand what you are getting into. It can be an excellent strategy if you enjoy real estate as an investment alternative.

17. "Happy Real Estate Buying and Selling for 2017!" My goal was to provide all parties with a list of suggestions for 2017.  This by no means covers the full menu of options, responsibilities, decision making or legal aspects in the buying or selling real estate.  I only hope it provides some insight as you move onto the new year and real estate decisions are a part of your new years objectives.  I hope you have a healthy and prosperous 2017 💰🔑💲🏡🚚🎈😄.

Boring can be better

Have you been watching the recent real estate reality TV shows?  Properties in prime cities are now sitting on the market for over a year and sometimes much longer.

Having traveled that road in past years, I can suggest extreme caution when making real estate purchases. Many areas of the area (especially the tier one areas) appear to have peaked and potential buyers are pushing back to find real value.  That is what I refer to as "what the buyer is willing to pay and the seller is willing to sell for" AKA...present value.

This should not stop the wise investor from seeking wise investments.  In my opinion, too many top heavy investors have overpriced these top heavy cites and smart investors are seeking intelligent investments where the ROI, and capital investment make sense and offer an upside for the buyer./investor.

Think before you sink.  Real estate is rarely a short term gain.  If you buy right, you benefit later. 

Noticeable Real Estate Buying Trends by the Chinese in US Markets

It's no secret that the US has always attracted international investors.  They have included individual buyers/investors as well as larger institutional buyers.  One noticeable trend that has been documented by Chinese investors has been shift in acquiring both trophy and real estate in sectors that do not have the same "curb appeal", or get the attention that previous buyers have focused on when purchasing US real estate.

In a recent article, it was noted that many Chinese investors are seeking out investments that do not necessarily stand out, including luxury hotels, class A office buildings and other well known properties that are well documented in first tier cities.

As I stated in a previous post, with our new administration, much of the emphasis was place on middle income workers in 2nd and 3rd tier cities and a commitment to improve the quality of lives, incomes, jobs and education in those areas of the country.

Could the Chinese be on to something?  Do they recognize a forthcoming plan to get into the real market on a sizable level (at an early stage) in many of the potential growth areas?  It is no secret that while many foreign investors are still buying in tier one areas of the country, prices in many of these areas appear to have reached record highs and the days of buying at asking price has declined in many of these major cities.

More recently, international investors are seeking out mid- tier properties, which also includes investments that have not always been a priority for international investors.  These include student housing, senior living communities, affordable housing, mid level rental communities, and the like.

In summary, I believe that several factors are contributing to this gradual shift into broader real estate markets, locations and types of investments.  As I have stated before, real estate is local in nature.  Knowing these 2nd tier cities and where high potential opportunities exist is paramount in making strategic investments in the coming years that may very well offer excellent returns for savvy buyers.

Latest Real Estate Projections

After reviewing Case-Schiller and other professional economists that focus on the real estate sector, they once again prove that real estate is local in nature, but paramount to our national economy.

With a new President entering the White House, so much speculation is already being analyzed concerning wealthy urban areas including: Manhattan, Washington DC, Boston, Philadelphia , San Francisco and several other major metropolitan areas.

While these larger, more robust cites in the US certainly stand out, the impact, or spillover effect on 2nd-3rd tier cities will also be impacted.

Again, real estate is local in nature, but the coming year will definitely feel the national impact that arise due to interest rates, demographics, shifts in the economic sectors nationally.  Other key factors that help define the desirability and affordability of the cities that appreciate in value, remain flat or even reverse in value will be defined during the new administration.

We have much to learn in 2017 and time and the decision making process of this administration will certainly have a significant impact on valuation in the coming years.

                                                                           N.Y.C 

The Greater Jacksonville Housing Market

                                                                                                       San Marco

The Greater Jacksonville housing market is expected to experience a significant improvements in sale growth and in price appreciation in 2017.  This projection has been confirmed by leading national data and analytics.

Values are expected to increase by 4- 6% and sales could increase up to 8% over 2016. This is good news for buyers and sellers, as Jacksonville is still considered to be one of the few major Florida cities offering affordable housing and a large diversity of neighborhoods to choose from.

Forecast 2017