Best Strategies to Win a Bidding War

June 2, 2022

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When buying a home in today’s real estate market, be prepared to pull out every weapon in your arsenal. Most agents are dusting off strategies and techniques they haven’t used since the early 2000s to compete in this competitive seller’s market. “Homes are selling fast and for thousands over list price. Homebuyers need to be ready to move quickly and aggressively when they find a home they love,” shares Davidson Realty President, Sherry Davidson. 

 

Putting together an offer to sellers? Make it strong! With only a month’s worth of inventory up for sale, more and more buyers are making all-cash offers. Cash sales are attractive because the seller has seemingly no risk of financing problems and they save time with the elimination of the underwriting process. 

 

Opt for a shorter inspection period or no inspection. Make an estimate of how much necessary improvements will cost and consider them in your offer. For newer homes, waiving the inspection could be a valid tactic, but the buyer must truly understand and be comfortable with it as it could be extremely risky. 

 

Allowing the seller to rent back the home for a short time is another way to appeal to the seller’s needs. If the seller needs time to find or move into their next home, the buyer can allow the seller to stay for a set period of time and pay rent, usually the mortgage payment, or stay rent-free as the buyer would begin paying the mortgage. Being flexible could be what helps you win a bidding war!

 

Waive the appraisal contingency. The appraisal contingency allows a buyer to get out of a pending sale if the appraised market value of the home is less than the agreed upon contract price. If the contingency is waived, the buyer agrees to pay the difference between what the bank is willing to lend on the appraised value and the contract price. Waiving the appraisal contingency is clearly an attractive strategy, however, the buyer needs to be aware of the risk. 

 

A tool many agents are recommending to buyers to win bidding wars is an escalation or escalator clause which states the buyer will pay a certain amount above the highest bid. This clause makes the offer more attractive because it guarantees it will beat the highest bid. Usually, a limit is set on the clause to avoid the buyer overspending.

 

Footing the bill for closing costs and paying the commission for both sides of the transaction is another way to sweeten the deal for the seller. Additionally, writing a “love” letter could appeal to the emotions of the seller. Trusting your agent to help you select the strategies that work best for your situation is key. 

 

In this real estate market, be ready and act fast! For expert advice on strategies to catch the seller’s attention and put your offer at the top of the list, contact Davidson Realty today at (904) 940-5000. 

The Best of the Best – Davidson Realty 2021 Awards

March 14, 2022

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The Davidson Realty Team closed out another successful year.From involvement in various charity events to their top-notch real estate services, we are so proud of all the incredible things our team accomplished in 2021,” shares Davidson Realty President, Sherry Davidson. “The passion and dedication our team possesses is inspiring.” The Davidson Realty family recently got together for their annual Awards Banquet. A huge thank you to the awards committee: Amy Thornton, Bonnie Cherhoniak, Matt Burkhart, Mirtha Barzaga, and Andrea Gallagher!  

 

Terri Apodaca

Davidson Property Management – Most Rentals

Davidson Property Management – Most Properties Referred

5 Million Dollars Closed 

6 Million Dollars Sold

 

Max Reyna 

Davidson Property Management – Rookie Agent of the Year

 

 

 

Jeanne Denton-Scheck

5 Years of Service

 

 

 

Rebecca Schaffer

5 Years of Service

3 Million Dollars Closed

4 Million Dollars Sold

 

Vern Shadowen

5 Years of Service

 

 

 

Andrea Gallagher

10 Years of Service

 

 

 

Caitlyn Hawkins

10 Years of Service

3 Million Dollars Sold

 

 

Shirley Barber

15 Years of Service

 

 

 

Laura Hendricks

Value People First Award Winner

 

 

 

Liz Pappaceno

Value People First Award Winner

5 Million Dollars Closed 

5.5 Million Dollars Sold

 

Lynn Whitley

Value People First Award Winner

 

 

 

Reba Barkley

Break Out Year Award Winner

7.5 Million Dollars Closed

10 Million Dollars Sold

 

Tammy Peacock

3 Million Dollars Closed 

4 Million Dollars Sold

 

 

Jennifer Todd

5 Million Dollars Closed 

4.5 Million Dollars Sold

 

 

Candy Gil

6 Million Dollars Closed

6 Million Dollars Sold

 

 

Margherite Myers

8 Million Dollars Closed

7.5 Million Dollars Sold

 

 

Suzy Evans

15 Million Dollars Closed

15.5 Million Dollars Sold

$7,500 Bonus Recipient – 3rd year

 

TEAMS

 

Shelley & Tim Nemethy

15.5 Million Dollars

18 Million Dollars Sold

$5,000 Bonus Recipient – 2nd Year

 

Mirtha Barzaga

17 Million Dollars Closed

22 Million Dollars Sold

2021 Closing Agent of the Year

2021 Sales Agent of the Year

2021 Listing Agent of the Year

$10,000 Bonus Recipient – 5th Year 

 

We would also like to recognize our amazing staff for all their support throughout the year: Shirley Barber, Matt Burkhart, Matt Davidson, Sam Davidson, Rochelle Richardson, and Andrea Gallagher. 

 

Additionally, we’d like to give a big thank you to our property management team who help take care of all our owners and tenants: Laura Hendricks, Bonnie Cherhoniak, Amy Thornton, and Judy Kashou.

 

The Davidson Realty Team is proud of all the hard work and dedication displayed in 2021 and strives to have an even more successful 2022. These achievements would not be possible without the trust and loyalty of Davidson Realty clients. Thank you for choosing us as your real estate experts. If you are interested in experiencing the Davidson Realty difference, contact us at (904) 940-5000.

Selling Across Northeast Florida

January 12, 2022

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Since 1989, Davidson Realty has established itself as one of the leading real estate brokerages in Northeast Florida. Davidson Realty attributes much of their success to their value of people above everything else. With more than forty dedicated agents, Davidson Realty has served thousands of clients across Northeast Florida and is grateful to have had the opportunity to service the entire First Coast in 2021.

 

“Looking back 2021 was a crazy year,” shares Mirtha Barzaga, Davidson Realty Top Producing Agent. “The fact that the market was hot didn’t mean more sales and less work. On the contrary, the lack of inventory and the inflated prices drove a lot of buyers into remission.” With a market that proved to be competitive, Davidson Realty ensured their clients received TOP dollar for homes across Northeast Florida.

 

World Golf Village

945 Registry Boulevard Unit #302, St. Augustine, Florida 32092

With the help of Mirtha Barzaga, this beautiful, well-maintained, furnished unit in King & Bear sold for $232,000. Its lovely views and cozy balcony captivated home seekers. The extensive community amenities were the cherry on top to help this listing sell quickly. 

 

220 Presidents Cup Way Unit #204, St. Augustine, Florida 32092

In the heart of World Golf Village, you will find this upgraded and updated condo in The Legends. There was a lot to love about this home from the glass-enclosed lanai to the custom closets throughout. Lynn Whitley was the listing agent for this home which sold for more than $240,000. 

 

250 Holland Drive, St. Augustine, Florida 32095

This five-bedroom, four-bathroom home went through more than five weeks of improvements before going on the market. The hard work paid off when it sold in a flash for Rebecca Schaffer and her California-based clients. 

 

Ponte Vedra Beach 

695 A1A North Unit #117, Ponte Vedra Beach, Florida 32082

After being on the market for only NINE days, this move-in-ready Ponte Vedra Beach condo in The Fountains sold for $5,000 over list price thanks to listing agent Suzy Evans. Being just steps from the beach and near the large amenity center certainly helped attract attention to this property. 

 

Northside

319 Northside Drive South, Jacksonville, Florida 32218

Behind the gates of Pine Lakes, you’ll find this spacious, open floorplan home that sold in only EIGHT days and for $7,000 over list price. Yana Austin and her clients piqued prospective buyers’ interest with the property’s three-car garage, close proximity to the amenity center, and low HOA fees. 

 

Middleburg

2985 Chase Ridge Drive, Middleburg, Florida 32068

Listed by Shelley and Tim Nemethy, this brick beauty in Middleburg sold for $351,500 in October. This meticulously maintained cul-de-sac home had captivating features including an updated kitchen, thoughtful layout, and enormous fenced backyard.  

 

Palm Coast 

500 Canopy Walk Lane Unit #535, Palm Coast Florida, 32137

Overlooking the Intracoastal Waterway you’ll find this three-bedroom, two-bathroom end unit that provides stunning panoramic sunrise views. This window-lined unit draws in plenty of natural sunlight making it the perfect place to relax. Listing agent Mirtha Barzaga helped her clients sell this property for $440,000. 

 

Mandarin

12160 Chaseborough Way, Jacksonville, Florida 32258

In just THREE days this beautifully renovated pool home in Greenland Chase SOLD for more than $12,000 over list price – thanks to listing agents Shelley and Tim Nemethy! Positioned on a cul-de-sac and complete with stunning white cabinetry and granite, this three-bedroom, three-bathroom home quickly received multiple offers.

 

Intracoastal West

13176 Wexford Hollow Road North, Jacksonville, Florida 32224

Nestled between the 11th and 12th Jacksonville Golf and Country Club golf green, you’ll find this stunning executive estate. With more than $250,000 recently spent on renovations, this six-bedroom and four-bathroom, received multiple attractive offers. Caitlyn Hawkins was the listing agent that secured the sale of this home. 

 

Agents like Barzaga had to be extremely efficient and creative in this very competitive market. “I had a client this year from California who was looking for an investment property. I was able to write the contract remotely, complete their inspections, closed the transaction by mail, and put the property on the rental market for them – all this without them coming to Florida,” said Barzaga. “2021 was an interesting year in real estate, every day brought new challenges that the Davidson Realty team worked to overcome together.”

 

From Middleburg to Palm Coast and everywhere in between, Davidson Realty has the real estate experts to help you buy or sell your home with ease in 2022. There is no question Davidson Realty is equipped to serve you. Call the Davidson Realty team today at (904) 940-5000. 

Our Agents Answer Six Common Real Estate Questions

November 8, 2021

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For nearly two years, seemingly every industry has had to deal with unprecedented changes. The real estate industry is no exception as inventory of homes for sale and interest rates were at historic lows causing the market to be fiercely competitive. As the story of the real estate market continues to unfold, it’s vital to have an experienced real estate professional by your side. Northeast Florida real estate experts at Davidson Realty are answering some of the most common real estate questions. 

 

When is the best time to sell a home?

Quite a few people have asked me this lately and, honestly, in Florida or at least in our area, our selling season is year-round. Especially with the low inventory, we are experiencing, there doesn’t seem to be a wrong time to sell your home. Buyers are watching the market very closely for new listings to pop up. Some markets may slow down in the winter, but we have snowbirds who begin their search in January,” shares agent Shelley Nemethy

 

With the current market, should I still buy a new home before I sell my old one?

“If your current home is in an active community and in excellent condition, buying a new home before selling your current home could certainly be an option. However, if it is too much of a financial risk to put yourself in, in the event you had to carry both mortgages, I would advise against it,” shares agent Jennifer Todd

 

Is it still a seller’s market?

“It is still a seller’s market. Until we begin seeing a more balanced inventory in homes available, it will continue to be a seller’s market,” continues Nemethy. 

 

How should I prepare my home before selling it?

“Pack away or get rid of all clutter. The removal of clutter and items that you don’t need on a daily basis will enlarge your home. Eliminating excess furniture can also make a huge difference in how a home shows, “ shares agent Lynn Whitley. “You will recoup the cost of renting a storage unit and you will be a step ahead on packing when you accept an offer.”

 

What is your best advice for current home sellers?

“I suggest pricing your home to the current market and letting the market take the price to where it should be,” continues Todd. “ Always have your home spotless, no one wants to buy a dirty home!”

 

What is your best advice for current homebuyers?

“Hire an experienced real estate agent that knows how to help a buyer bid and win in this current competitive market. You’ll be glad you did,” continues Nemethy. 

 

If you are interested in buying or selling a home or have further questions about the market, contact Davidson Realty at (904) 940-5000.

NORTHEAST FLORIDA BUILDERS ARE TRYING TO KEEP UP WITH THE DEMAND FOR NEW HOMES. HERE’S HOW SOME BUILDERS ARE MANAGING THE PROCESS.

June 23, 2021

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Persistence and patience are the name of the game in the current real estate market as every corner of the industry has been rattled by uncertainty as a side effect of the COVID-19 pandemic. 

 

“The Northeast Florida real estate market is as hot as many in our industry have ever seen,” shares Davidson Realty President, Sherry Davidson. “There are not enough homes on the market to satisfy buyer demand. Resale homes coming available are getting multiple offers usually within hours to a day and offers are mostly above list price. In May of this year, more than 41% of homes closed were over asking price,” Sherry continues. Even the new construction housing market has experienced challenges that are requiring home seekers to adapt. We’ve connected with some of the talented home builders in Northeast Florida to get an update on their current conditions. 

 

Riverside Homes

“Riverside Homes continues to see very strong demand and we have made a few changes to our process to ensure the very best quality homes and provide the great building experience the people expect from Riverside Homes. We limit the amount of sales in each of our communities so we can keep a smooth process for permitting and building our homes. We closely monitor increasing supply costs each month doing our best to offer the most competitive home pricing,” shares Riverside Homes Sales Manager, Jacki Matthews. Despite the building supply shortages plaguing builders across the country, Riverside Homes promises to maintain the integrity and quality of their homes. 

 

Ashley Homes

Ashley Homes experienced a surge in sales and are currently sold out in Silverleaf, and have been since February 2021. “During the pandemic, we had no limits on sales and sold everything that we had available. Ashley Homes includes escalation clauses in many of our contracts, as do other builders, to protect us and our buyers from unforeseen lumber and material increases. Our buyer may pay a modest increase just to cover the rising material costs, but Ashley Homes has no profit added, shares Ashley Homes’ very own Greg Souris. Ashley Homes is navigating the home building process with their buyers, many who have seen more than $40,000-$50,000 increase in their home value before their home construction even started. 

 

Providence Homes

“In E-Town we are not limiting pre-sales or inventory homes, however, some of our policies have changed on when we can release inventory homes for sales. In Nocatee, we are limiting the pace of sales so we can manage the construction process,” shares Brenda Harris, Sales Associate at Providence Homes. Build time is approximately eight months, but Providence Homes is asking for flexibility and understanding from customers as material shortages could cause delays. 

 

MasterCraft Builder Group

Brad Shee, MasterCraft Builder Group President, shared, “The shortage of materials began in March 2021 as suppliers burned through inventory. Based on the lumber futures chart, lumber prices should start dropping. Because of the shortages, MasterCraft Builder Group is limiting sales each month in TrailMark and Rivertown.” The demand for homes in Northeast Florida is unprecedented, but it’s no surprise as the attraction to the First Coast is clear from the ocean to the river to the affordable cost of living. 

 

With more than 30 years of experience, Davidson Realty has cultivated strong relationships with some of the area’s leading home builders in Northeast Florida. Davidson Realty Agents know the new constructions market in Northeast Florida and can help you find the perfect lot and design to fit your needs. “Our agents are constantly talking to builder site agents to stay current on which builders have inventory and how they are managing the sales process. This constant communication allows our agents to know if a sale falls through, what is available, and the timing and process of the homesites that will be released so our clients can take advantage,” shares Sherry Davidson. 

 

The real estate experts at Davidson Realty will be by your side throughout the construction process to ensure your expectations and vision comes to life! For more information on new construction homes in Northeast Florida, call Davidson Realty at (904) 940-5000.

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