November 29, 2017

Jacksonville Real Estate Trends in October – Market Rebounds After Hurrican Irma

“Feeling gratitude and not expressing it is like wrapping a present and not giving it.” William Arthur Ward
The October market stats compiled by the Northeast Florida Association of Realtors show our local real estate market rebounded quickly after Hurricane Irma. That is very good news, but many housing experts are predicting a wave of foreclosures in February due to the storms. It is difficult to collect insurance until contractors are lined up to make repairs and many homeowners are waiting months for construction companies to get to the work. Some homeowners may just walk away.
Pending sales for October jumped 20% over last October. We are up 5% year to date. Closed sales are up 6% over last October and 1% year to date.

Our median and average sales prices are up over 10%. Out of the country’s 50 largest housing markets, 31 have returned to their levels during the last housing bubble (62 percent). Our market is getting closer to the peak pricing of 2005 and 2006. “As we compare today’s market dynamics to those of a decade ago, it’s important to remember rising prices didn’t cause the housing crash,” says realtor.com Chief Economist Danielle Hale. “It was rising prices stoked by subprime and low-documentation mortgages, as well as people looking for short-term gains – versus today’s truer market vitality – that created the environment for the crash.”

(more…)

October 31, 2017

Jacksonville Real Estate Trends in September – Irma Recovery & 2018 Housing Predictions!

“Change before you have to.” Jack Welch

We had finally settled into a more stable real estate market this year without quite so many wild swings, and then Irma decided to pay us a visit. Change is always coming.

The Northeast Florida Association of Realtors market stats for September show new listings down 21% and closed sales down 25% which are the most obvious impacts from Irma. We were stuck in a holding pattern waiting for the storm for days and then with the aftermath clean up and repairs, fewer people listed their home for sale. Closings were delayed due to insurance issues, re-inspections and repairs. (more…)

August 31, 2017

Jacksonville Real Estate Trends in July – Low Inventory & More Buyers!

“The question should be, is it worth trying to do, not can it be done.” Allard Lowenstein

This quote really spoke to me as I watch how fast the real estate industry is changing and how we are constantly looking for new ways to thrive in this industry regardless of whether our specialty is developing communities, building homes or selling homes. We will all keep looking for better ways to meet the needs of our customers. (more…)

August 30, 2017

Davidson welcomes 30-year real estate veteran Belinda Nelson

We are excited to welcome experienced agent Belinda Nelson to Davidson’s sales team! Belinda boasts decades of experience in real estate and numerous designations.

“Belinda is a pillar in the Northeast Florida real estate industry and we are thrilled to welcome her to the Davidson team,” said Sherry Davidson, President of Davidson Realty.

A native of the First Coast, Belinda started her career in cosmetology. In 1988, she launched a career in real estate and utilized her knowledge of the area to become a multimillion-dollar producer. (more…)

July 26, 2017

Jacksonville Real Estate Trends in June – Inventory is Tight! Now is the Time to Sell

“Among the things you can give and still keep are your word, a smile, and a grateful heart.” Zig Ziglar

A little bit of Zig can brighten any day. The market stats for June from the Northeast Florida Association of Realtors brightened my day. Pending sales for the last 4 months are the highest we have seen. There were 2,741 contracts written in June which is 4% more than last June. Davidson Realty’s sales are up more than 12% over the first half of 2016. (more…)

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