Considering a Home Renovation? The Do's and Dont's

I think it is fair to say that many of us have been intrigued by the variety of home renovation shows that are both inspiring and demonstrate just how dramatic an old or outdated home can be transformed.

Homes in particular seem to always need something that needs to be fixed or updated (even if we are not thinking about a major renovation).   However, the joy and pride of home ownership is a benefit for so many of us, that maintaining our properties is considered part of being a homeowner....even though we are rarely prepared for those unexpected repairs!

Renovation can be defined from just about anything from a "complete" renovation, updating, modernization, makeover etc.

As a real estate professional and homeowner, I have learned to think beyond the expected timelines and budgets.  Even on those popular renovation shows, new found repairs often consume more time and money.

Of course, if you are working with a reputable contractor, they often do everything possible to meet the expected obligations and outcomes and in a perfect world this would happen 100% of the time.  For the rest of us, I suggest that you always have a plan B for time and budget.  

It can be so disappointing to not have a project finished on time, or unforeseen repairs needed that require us to make improvement choices.  

In summary, be ready to expect the unexpected including time delays, budget overruns and have and have a plan B when these difficult situations occur.  Depending on the level of renovation that you are considering,  unexpected events can occur and preparation, patience and persistence can be very helpful for the the owner to get through it.

Hopefully, in the end, it was well worth your time and investment.  Learn to enjoy the renovation journey!

Stop Procrastinating, Get Started! #outdated2updated

                                                                         Before

                                                                   

After

To Summarize:  

                                         

Before Renovation 

                                                                              After Renovation

#outdated2updated

Always Learning

As our Country, cities and local communities continue to evolve into "sharing communities", we should look at our local communities, businesses, colleagues and within ourselves to develop and support these changes.  How does this impact our business, our daily lives, prosperity, efficiency and so many other metrics that determine where we go from here?    What does it mean to the very core of how we work, earn a living and add meaningful value in a world that seems to move at an endless speed to accommodate "what"s next" ?

I believe that most of us have value of some sort to bring to the table.  Our goal in this fast and ever changing environment is to find our place, stick to it and stay focused on growing with it.

No matter the industry you are in, there is a place for each of us.  It may require training, changing and skill development that brings us out of our comfort zone.  I believe that the the sooner we adapt, the more prosperous and content we will be.

Change is seldom viewed as a positive thought, but accepting the status quo is far more detrimental.

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!