Davidson Realty, Inc.

Davidson Realty #25 on Business Journal 50 List

July 15, 2011

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Posted by in Awards

2011-07-14_11-49-20_499We’re on a roll. First the Jacksonville Business Journal names Davidson Realty one of the Best Places to Work, then June was our best sales month in years and now we’ve been named to the Business Journal’s 50 List!  The Business Journal 50 identifies the fastest growing private companies in Northeast Florida.  Davidson Realty came in at #25.  “We’re honored to make the 50 list.  It’s especially gratifying to have come through the worst economic crisis and real estate industry bust in our company’s history and, not just survived, but prospered,” said Davidson Realty President Sherry Davidson.  Sherry, Jim Davidson, Rick Pariani, and Peyton Davidson attended the Business Journal 50 luncheon which honors the list-makers. 2011-07-14_13-44-50_454

Davidson Realty, based in World Golf Village, has become one of the top 10 real estate companies in Northeast Florida.  We have major market share in the World Golf Village and north St. Johns County area and our reach has also expanded to include Ponte Vedra and the beaches, Julington Creek and Flagler County.  Several Davidson agents hold the CDPE (Certified Distressed Property Expert) designation which gives them expertise at helping clients navigate short sales, foreclosures and distressed property situations. 

2011-07-14_13-29-35_344The Business Journal’s top 50 list list was compiled based on the following criteria:
• Privately held, for profit and locally owned.
• Headquartered in Duval, Clay, St. Johns, Nassau, Baker, Flagler or Putnam counties.
• In operation since at least 2007.
• Annual revenue of at least $1 million in 2010.
• Overall revenue growth from 2008 to 2010 with revenue gain from 2009 to 2010.

The full list of the Business Journal 50 is in the current issue of the Jacksonville Business Journal which hit newsstands today.

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It’s Wedding Season! We Have Great Tips for Buying Your First Home

July 11, 2011

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Posted by in News, Videos

picFirst time home ownership can be as exciting and stressful as getting married. And often the two often go hand-in-hand, so to speak. So, we have six key tips for new couples embarking on their first home purchase below and we had some of our knowledgeable Jacksonville Realtors give you more tips in the video above!

1. Check your credit. It’s wise to get this one out of the way before the wedding so both partners are clear about each other’s financial health. Check at least two of the three major credit reporting agencies – Equifax, Experian and TransUnion.  Address any issues or misreporting. A FICO score of 720 or above is the best range for loan approval and favorable rates.  You may still get approved for a loan with a credit score of say 680 but you’ll most likely have a higher interest rate.  If you’re in the 660 range, you may be able to qualify for a FHA loan.

2. Agree on what you can afford. This is where those communication skills are key!  Make sure you’re both comfortable with the budget. Generally a home purchase should not be more than 2 ½ times your combined annual salary but perhaps you have student loans to consider.  It’s ideal to have a 20% down payment, but you may be able to qualify with less down, although that’s tougher in today’s real estate market.

3. Agree on top needs. Talk, talk and talk some more. Be able to agree on at least your top three must-haves.  For example, maybe it’s good schools, three bedrooms and an easy commute to work.

4. Find an experienced Real Estate Agent.  An experienced real estate professional can help ease the home buying process in many ways – from helping identify lenders to providing current market stats and advising you about what to offer on house. Ask around. Word-of-mouth recommendations are often the best.

5. Get pre-approved. Getting pre-approved ensures you don’t waste time looking at houses you can’t afford.  It also puts you in a better position to make an offer when you find the right home. Pre-approval is a more in depth process than pre-qualified but it’s the smarter way to go.

6. Use a home inspector. Being a smart homebuyer means being informed. A home inspection will make you aware of any potential problems BEFORE you’ve signed on the dotted line.

For more information about first-time home buying, visit Davidson Realty’s First Time Homebuyers Webinar Library at http://www.davidsonrealtyinc.com/webinars/category/first-time-homebuyers.

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$9 Million in Closings for our St. Augustine Realtors in June!!!!!

July 6, 2011

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Posted by in Uncategorized

One word to describe this month – WOOHOOOOO!!!! We had over $9 million in closings for June and over $7 million in sales all thanks to our hard working St. Augustine Realtors! That’s our best month since June 2008, so as you can imagine we are all smiles around Davidson Realty. There were 18 different agents with closings for the month. We have lots of celebrating to do – we get to congratulate our Tops in June and for the 2nd Quarter!

pcPauline Cake is our Top Sales Agent in June and our Top Producer for the 2nd Quarter! Pauline’s total sales for June were over $800,000 and she had over $3 million in closings for the quarter. She was our Top Producer in April, Top Lister for March, and Top Lister for the 1st Quarter. Pauline works and plays in World Golf Village, so it’s not hard for her to sell a lifestyle that she loves so much!Ana Speziale

Our Top Producer for June and our Top Sales Agent for the 2nd Quarter is Ana Speziale with over $1.1 million in closings in June! She had over $1.3 million in buyer sales and over $2 million in total sales for the quarter. Ana was our Top Sales Agent in May and our Top Producer in January. Ana treats every customer as if they were her only customer. She gives so much of her time, energy, and passion for real estate.

Mirtha BarzagaThe Top Lister for the month is Mirtha Barzaga with almost $700,000 in listings sold and $800,000 in total sales! Mirtha is the definition of hard worker! She recently had to be persuaded by her co-workers to take one day a week to work from home. Whether it’s a holiday or not, Mirtha is serving her customers!dottie

And, our Top Lister for the second quarter is Dottie Lay with over $1.1 million in listings sold and almost $2 million in total sales. Dottie was our Top Lister in May, Top Sales Agent in March, Top Producer for the 1st Quarter, Top Producer in February, and Top Lister in January. Dottie knows this market like the back of her hand – let her more than 25 years of experience in this industry work for you!

Congratulations to all of our Davidson Agents and staff for everything they gave to make this month the best one yet!

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How Horses are like Loan Interest and why DASI

July 1, 2011

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Posted by in News

Logo-Red-thumbWe are all aware of the lingering problems facing the real estate market on a nationwide basis. During the past real estate down-turns, financial institutions, investors and individuals took direct responsibility for their problems and realized early on that they had to come up with a solution that would eliminate or substantially reduce their losses. This time the federal government decided to come to the rescue. Program after program was announced including monetary bail-outs, debt restructuring options and even debt forgiveness. As a result most, if not all, of the financial institutions, investors and individuals opted for a wait and see attitude related to their troubled real estate assets. Time, as always, has marched on. As a wise old Georgia farmer once told me “I don’t like horses; they eat while you sleep”! Well interest is the same way with or without the inherent penalties for non-payment. It just keeps accruing. Many of the loan defaults started in late 2006 and early 2007. While there have been bail-outs and some debit restructuring the back log of troubled assets is still monumental in many markets.

This brings us back to the question of “Why Davidson Advisory Services, Inc. (DASI)? Very simply a strong market need. Any restructuring of existing financing, modification of permitting, change of intended use or revived sales efforts must rely heavily on a well thought out comprehensive disposition strategy taking into account current and projected market conditions. In many cases this may be the last chance to salvage loan principal or invested capital. Oftentimes the owner/lender just needs a knowledgeable sounding board to bounce off ideas. The principals at DASI have the knowledge, expertise and proven track record to assist any financial institution, investor or individual in making the right decision regarding their real estate investment. These services may be solicited and engaged at any point in the process.

In summary, DASI can help.

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Jacksonville, FL Real Estate Trends in May 2011

June 29, 2011

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Posted by in Uncategorized

“Life is not about how fast you run or how high you climb but how well you bounce” Vivian Komori

If you own a business or are connected to the real estate industry in any way, you will enjoy the quote.

The most important trend I am seeing this month is the drop in inventory. The inventory of homes for sale in May 2011 is down 25.8% from May 2010. This inventory level translates into 8.9 months of supply versus a 11.7 months supply for the same period last year. This is a 23.7% drop in inventory. In many popular neighborhoods there are very few properties available for purchase that aren’t already under contract. We need to monitor this trend in inventory levels to better advise both our purchasers and sellers with regard to the pricing outlook.

Pending sales are up. The May 2011 pending sales of 1,756 transactions is 33.9% higher than May 2010. The year-to-date pending sales are 3.3% higher than the same period in 2010. The number of homes going under contract (pending sales) tends to bounce around each month but May 2011 is tied with March, 2011 for the highest amount of pending sales in the last 21 months. Another positive outlook.

Closings are down 10.6% from last May; however, the number of closings year-to-date are up slightly over the same period in 2010. Between lender, appraisal and title issues, it is always cause for celebration when we get a transaction to closing.

Pricing continues to be down compared to the previous year. The median sales price is down 7.9% and the average sales price is down 3%. If you look a little closer, the median sales price of traditional sales is up over 5% and the median sales price of lender-mediated sales is down over 14%. I would also point out that in the northern St. Johns County area the average price currently seems have stabilized around the same price as 6 months ago.

The lender-mediated sales in May 2011 were 49% of closings for the month. If you think this number is high, remember that short sales and foreclosures made up 60% of the closings in February. I believe this number is down because the banks are being more careful with their foreclosure process due to the recent bad publicity.

To sum it up: inventory is down, the transaction activity is up and the prices overall are down year-to-year.

If you have any questions or need any assistance with real estate issues, please give me a call 904-940-5000. I always enjoy talking about real estate.

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