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.

The Things You Might NOT Know About the Real Estate Market in Northeast Florida

June 3, 2021

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The real estate market is notorious for its ups and downs, however, this real estate market is unique. Inventory is low, demand is high, and homes are FLYING off the market faster than ever! With so much uncertainty in this unprecedented market, it’s more important than ever to have a trusted real estate expert by your side to navigate the market.  Northeast Florida real estate expert Sherry Davidson, President of Davidson Realty, is answering some of the most common real estate questions from the community. 

 

How can I figure out how much my home is worth? 

Your home’s value is whatever the market is willing to pay. The market is changing very rapidly. It is in your best interest as a home seller to have a trusted real estate expert that knows the current market by your side to help you place a value on your home. Our team is selling homes daily and has the knowledge to ensure your home sells for TOP DOLLAR! 

 

Should I sell my home before buying a new one? 

The answer to this question has always been, YES! However, in the current real estate market conditions, the answer depends on your situation. If you sell, you need to have a rental home lined up or have the ability to live with family until you find your next home. If you put a new home under contract, you will probably not get a contingency to sell your existing home. You will risk losing your escrow deposit if you can’t close or you will have to acquire a bridge loan, extra savings, or a gift to close on the new home before you have the closing on your existing home.

 

Is World Golf Village expanding? 

With a few small exceptions, the only portion of World Golf Village not built out is Trailmark. There are new phases of homesites still becoming available in Trailmark.

 

What is the next go-to area to move to in Northeast Florida? 

There are so many incredible communities in Northeast Florida. However, Silverleaf is extremely popular right now. Silverleaf is located in highly desired St. Johns County, Florida, and just minutes from various shopping centers, beaches, golf courses, and entertainment.   The community will also be home to a first-class amenities center for residents to enjoy! 

 

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

4 Ways to Sweeten the Deal When Buying a Home

May 5, 2021

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The real estate market is unlike anything we’ve seen before. Inventory is low, demand is high, and homes are flying off the market! “With the current market conditions, listings are receiving multiple offers and buyers need to be ready to act fast with their best offer when they see a listing they love,” shares Davidson Realty President, Sherry Davidson. In such an intensely competitive market, trust the real estate experts at Davidson Realty to help you put your best foot forward with these strategies. 

 

Get Pre-Approved for a Mortgage

The first thing you should do when you decide to purchase a home is obtain a pre-approval letter. A pre-approval letter not only states what a lender is willing to lend to you but shows the seller you are serious and prepared to purchase a home. A pre-approval letter shows legitimacy and a sign of good faith that they can afford to buy the home. Sellers are more likely to select an offer that is pre-approved than one that is not. 

 

Eliminate Contingencies

A clean offer is extremely attractive to sellers. “Any contingencies you have in your offer could be a negative to the seller. Sellers want a low risk and speedy closing,” shares Sherry. Appraisals are often a major cause of home sales falling through. Eliminating this step allows for a smooth sale process with minimal chance of things going wrong. As the buyer, you are effectively taking the risk off the home seller and putting it on to yourself. 

 

Make an All-Cash Offer

All-Cash offers provide the unique opportunity of keeping the sale primarily between the buyer and the seller. Cash offers tend to be stronger than offers utilizing traditional financing because they are less risky for the seller. With a cash sale, no appraisal is necessary since there is no mortgage lender involved. The absence of a mortgage lender also allows for a quicker closing. A fast timeline is advantageous for sellers because the sooner they close, the sooner they get paid.  

 

Be Flexible

Including a flexible timeline in your offer can go a long way with sellers. Depending on the sellers’ situation they may need more or less time in the home than the traditional 30-day closing period. If you are not in a hurry to move, being as adaptable as possible will be to your advantage as the sellers will then be able to decide what works best for them. This can go a long way, especially if competing offers come with strict deadlines. 

 

If you are ready to begin the search for your next home, call Davidson Realty today to help you get started. 

First-Time Homebuyer? Call Davidson Realty. 

March 12, 2021

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Life is full of firsts. First car. First job. First child. First home. They are all memorable milestones that come with time and planning at various stages in life. Each first is unique and special in its own way. If buying your first home is a goal for you this year, Davidson Realty will be there. 

 

Like any first, you rely on the support and experience of friends, family, and industry experts. The same is true when buying a new home, especially with the current state of the real estate market, it is essential that a trusted real estate expert is by your side to help you navigate the process of buying a home. Davidson Realty has a team of real estate experts ready to educate and prepare you for what is to come. Davidson Realty Agents have the support and network that will give you a leg up when searching for your first home and sealing the deal. “With Davidson Realty, you have an ally in your corner and a real estate advisor for life to help and offer suggestions, repair vendors, community resources, and anything you need along your homeowners journey,” shares Davidson Realty President, Sherry Davidson. 

 

Preparation is key in the real estate market. “Buyers have to be ready to make an offer quickly in this market. Establishing a budget, type of loan you will use, how much of a down payment you are prepared for, and how much escrow deposit you have available is critical when you begin looking for a home,” continues Sherry. The state of the real estate market may present some advantages to home buyers as interest rates are some of the lowest seen in years which means lower monthly mortgage payments and bigger home-buying budgets. However, low interest rates have created a fiercely competitive market. “Buyers must be prepared to make aggressive offers within days of the home hitting the market. Sellers are receiving multiple offers often at list price or above. It’s a seller’s market, buyers need to be ready to bring their best offer to the table,” shares Sherry. 

 

With the market this competitive, it’s important to not only know what you can afford but what features and areas you are looking for. Whether you are looking for a starter home or your forever home, spending time deciding what is on your wishlist is critical so when a home that fits your criteria comes on the market you can act quickly. “Davidson Realty’s knowledge of the Northeast Florida communities, builders, schools, and entertainment options are invaluable.  Your Davidson Realtor ®  will take the time to understand the needs of your family and what you need in a home,” continues Sherry.  

 

Whether your first home is your one and only or the first of many, Davidson Realty will be your real estate partner for life. If you are ready to purchase your first home, call the real estate experts at Davidson Realty at (904) 940-5000.

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