Airbnb, and Jacksonville

While Airbnairbnb Website is still in it's infancy in the Jacksonville area, it has seen growth during the past 24 months.  As we have all witnessed, Airbnb website has thrived in other Florida cites (especially those that are tourists destinations) including Miami, Orlando, and Ft Lauderdale.

Jacksonville and the beaches in particular have long been summer time tourist destinations, but special events and business travels often bring large groups to our city and Airbnb is picking up the pace as more property owners are taking advantage of this lucrative option for hosting guests.

Like many Florida destinations, it is projected that the Airbnb Website concept will continue to grow in the coming months and years.

Higher Prices, Slower Sales in Top Tier Markets

We have all witnessed the astronomical growth and appreciation of real estate in many cherished cites and locations around the globe.  Closer to home, the values spikes have become clearly evident in locations like New York City, San Francisco,  Much of Southern California and Miami to name a few.

While the market has rebounded in many parts of the U.S., the appreciation rates in these cities are simply off the charts for most Americans to absorb.  After years of record growth, it does appear that many of these specific cites are beginning to see a slow down in sales, even though higher prices are being commanded.

Eventually, It does appear that values have reached a peak and a mild correction or leveling off is in store.  

In summary, the market always finds it's value.  Many of us have enjoyed greater appreciation with a combination of historic low interest rates. And many markets are enjoying robust sales where values are still considered reasonable.

Through the process of supply and demand, affordability and desirability of a geographic location, real estate, like many other investments have a way of finding true market value based on their respective benchmark indicators.

Nona Blue Modern Tarvern is now open in Ponte Vedra Beach

If Golf is your game, or sports for that matter, Nona Blue offers an extra incentive to visit their newest location in Ponte Vedra Beach.  The restaurant offers a modern flare to what have been described as traditional taverns.  Known as the modern tavern, this is the restaurant's second location and has been well received by the local community in Ponte Vedra Beach.  

The tavern offers over 16 beers to choose from and a wide variety of eclectic menu items to choose from.   The menu includes the infamous fish and chips as well as other fine dishes offering delicious food and drinks for everyone.

Looking for a new place to dine, you now have another great choice in Ponte Vedra Beach community.

First Coast Real Estate Trends

As we enter the Autumn season, real estate, transactions ,values and predictions all come into play!  The Fall season can be a great time for many buyers and sellers and not so great for others.

The hustle and bustle of summer has passed and the holidays are not far off.  As a result many buyers seek to find homes that they can close and occupy before year end.  This may be for tax purposes, or just the need or desire to be in a new home before 2017.

As interest rates continue to provide buyers with historic low's in terms of financing opportunities, we should still continue to see momentum in the Fall, even though it may not hit summer time peaks.  Sellers also realize that while traffic may be a bit slower, those who are looking usually constitute serious buyers and finding the ideal property that is priced at market value is key.

Northeast Florida and the beaches in particular have enjoyed growth during the past few years .  The trend, given employment, companies and executives relocating to Florida and other overall affordability of the First Coast point to a continued healthy growth rate in the real estate sector through year end.

Finding Financial Stability in an Uncertain Economic Environment

Today more than ever, investors are seeking solid investments during very uncertain times. Markets continue to fluctuate rather wildly.  Many of today's financial instruments have come under increased scrutiny and risks are much higher than previously realized.  Investors and savers alike are searching for the safest haven to invest and seek out reasonable returns during very uncertain times.

Many investors have or have considered real estate as a part of there investment strategy. Whether through REITs, actively purchasing rental/income properties, passively investing in newer forms of real estate ownership such as bnb investments and other types of passive investing.

After 20 years of investing in different markets and personally learning and honing my skills in the real estate market, I have learned very valuable lessons(some that hurt), but each transaction taught me.

In summary, if asked I would avoid chasing high end real estate markets.  With the exception of a few key global cities, at some point, the last buyer ends up holding the losses.  I would also recommend second tier cities that have a strong rationale for investing such as new business growth, growth in geographic population, year round tourism, university towns that continue to expand and so on.

As a Broker/Owner in Jacksonville Florida, I have witnessed steady and consistent growth in many parts of this city.  Jacksonville and the surrounding area also offer a host of reasons for solid and long term investments for virtually any buyer including college students to retirees.

Finally, values in North Florida and Jacksonville are considerably lower than many parts of the state and country.  

To learn more about investing in the greater Jacksonville area, please do not hesitate to contact me. Happy investing! 

East Arlington, An Emerging Neighborhood that's back !

As anyone who lives in the greater Jacksonville area, we all know of the huge range of diversity in the vast neighborhoods that make of this great city.  Occasionally, we find some "sleepers" that early investors begin to cherry pick homes to renovate, flip or rent.  

I have long known East Arlington, in particular the vast section between Beach Blvd and Atlantic Blvd just west of I 295.

The area consist of homes that were mostly built in the 1950's-60's with some much larger estate homes at the Beach Blvd end of this area that were custom built and owners amassed much larger tracts of land and higher values. 
The geographic location is ideal as it is 15-20 minutes from the beaches and about the same distance to downtown Jacksonville.

Sunset on Cortez Road

The primary focus has centered on these smaller homes, many of which suffered the overblown values during the subprime crisis and are have become homes that are in disrepair for those who overpaid and other reasons.  During the last year, I have watched in amazement as owners and new homeowners are transforming these properties and by doing do, making a significant change to the overall value of this neighborhood.  

                                                                      

Many of these properties that are being purchased and renovated are being bought at a fraction of market value and rehab crews are updating them for millennial buyers and renters alike.  These homes can range form the mid $40's-100k, based on the type of home and condition/situation.  

If you are thinking of investing and want to learn more about this area and the resurgence that it is seeing, 

Now is the time!!

What's up with Jacksonville?

Why is Jacksonville so often overlooked as a leading Florida city? 

What are the undercurrents that do not allow this city to compete with other major Florida cities including Orlando, Tampa, Ft. Lauderdale and Miami?

• Jacksonville has the infrastructure to support and compete with any of these cities. 
• It is the gateway into North Florida and is home to many regional offices of fortune companies. 
•  Property values are very competitive, especially when comparing them to other major Florida cities.
• The weather is certainly considered to be a mild/seasonal climate. 

Yet in a recent survey of the southeast, projections for commercial growth (South of Atlanta) moved beyond Jacksonville and focused on Orlando and Tampa for growth, employment and housing.

Jacksonville cannot seem to shake off the image that it has had for decades as a "stereotyped" city that lacks the diversity and insight to lead it into the years ahead to compete with it's neighbors.

Of course, many are satisfied with the status quo and not to undermine the growth that has occurred during the last decade would be foolish.
Let's not stall, or worse yet fall backwards into a city of the past. Progress can only occur when forward thinking citizens and those who represent our best interests do what is right for us and the prosperity of all. 

Please don't hesitate to share your comments. Thank you!

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