HOMEOWNERS ARE FEELING A LITTLE TOO “COVID-COZY” And YOUR HOME could be what they’re looking for!

August 14, 2020

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Posted by in News

By now, you’ve probably heard the term “Coronacrazy” which clearly speaks to the day to day roller-coaster we’ve all been living since early March. At Davidson Realty, you’ll also hear the term, “Covid-Cozy” which describes the homebuyers working with our agents who during quarantine determined their home no longer suits their needs. This doesn’t necessarily mean the home is too small in some circumstances. There has been a shift in desired layouts, locations, and overall function for many homebuyers as the Coronavirus has people spending more time at home.

 

While market conditions remain positive, interest rates are at an all-time low and inventory is low, if you have a home you’re contemplating selling – you may just have the perfect home for someone who is too “Covid-Cozy” in their current home!

 

What are homebuyers looking for?

 

 

Suburb Living:

While the convenience of living close to work has remained one of the top priorities for homebuyers, it’s not necessarily part of the top five “must-haves” since more people are working from home. In addition, people feel safer in less crowded and less populated areas which makes suburb living more desirable.

 

Dedicated Office/School space:

The pandemic has forced many Americans to work from home. Several large corporations in the Jacksonville Metro area are still shut down and have employees working from home. And nearly 38% of students across Northeast Florida will participate in some form of “distance learning” through virtual options. That means more homeowners are realizing with parents and/or children all needing a dedicated space their current situation isn’t ideal. The dedicated office/school space can be a bonus room or even an additional bedroom converted to office or school space.

 

Food Pantry:

If you think back to March and April, our groceries caused major anxiety for some as we were told the virus could potentially be brought home from groceries and lives on surfaces. (Not sure we still have a clear answer on this one!) Many consumers tried to buy in bulk and minimize their frequent trips to their local grocery stores. And whether or not consumers are still consumed with fear about their grocery stores, we do know that buying in bulk has become more popular and people are needing more storage space.

 

Larger yards or better outdoor amenities:

Northeast Florida weather, albeit very hot and humid during August, provides plenty of months for enjoying the outdoors. And people who enjoy entertaining can more safely socially-distance while entertaining outdoors. Outdoor amenities also provide plenty of entertainment while people are looking for more controlled environments for their children to play and safely social distance.

 

You may be looking for a home that offers these features or maybe you are living in a home that hits some or all of the list above. Either way, if you’re contemplating moving into a new home contact our Davidson Realty office and let’s get the process started. Our Davidson Realty team of experts knows exactly how to market your home to highlight its qualities and make it desirable for people who are ready for something a little less “Covid-Cozy.”

Florida Homeowners – How can your TRIM Notice save you money?

July 30, 2020

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Posted by in News

Is there any reason to review your property tax notice?  There is a very compelling one and it could potentially save you lots of money!

 

If you own a home, you will receive your Truth in Millage (TRIM) notice from the Property Tax Appraiser in August. The 2020 Notice of Proposed Property Taxes will list the market value of your home determined by the County Tax Appraiser. You want the market value to be accurate. Let me explain.

 

The Save our Homes Cap was passed in 1994 and caps the amount the assessed value may increase to a maximum of 3% a year, or the Consumer Price Index. Your tax bill is based on this assessed value, not your market value.

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May 2020 Northeast Florida Market Stats: How Has COIVD-19 Impacted Our Market

June 24, 2020

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Posted by in News

The Northeast Florida Association of Realtors Market Stats for May 2020 shows a dramatic increase in sales in May (3,063) compared to April (2,368). Pending sales were down 2.6% from last May, but it appears the housing market reached its low point during mid-April and began to strengthen in May.

 

Closed sales of 2,244 were down 33% from 3,346 last May which is not surprising since people were staying at home late March and most of April and not out looking at homes and writing contracts that would close in May.

 

The average sales price of $287,842 is up 5% over last May and the median sales price of $247,484 is up 7%. The prices have not dropped during COVID because there is more demand for homes than supply of homes for sale.

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Congratulations to our TOP Producing Agents in May!

June 8, 2020

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I would like to congratulate our entire team for a great month in May. We had sales of $15 Million which is an amazing month and a wonderful surprise following April where everyone was staying at home due to COVID-19.

 

The Top Producer with the most closings in May is Delilah Salameh. I continuously receive feedback from Delilah’s customers about her genuine concern and her constant communication. Delilah was born and raised in Jacksonville and can help her customers no matter where they prefer to live.

 

 

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April 2020 Northeast Florida Market Stats: How is COVID-19 Impacting our Market.

May 22, 2020

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Posted by in News

The market stats for April 2020 from the Northeast Florida Association of Realtors show new listings of 3,107 are down 22% compared to April 2019. Pending sales of 2,339 are down 27% and 2,334 closings are down 23%. The sales price is up over last April and the last several months. The median price of $250,000 is up 11% and the average sales price of $298,438 is up 8%.

 

According to the Florida Realtors Chief Economist Dr. Brad O’Connor, “drops in both new pending sales and new listings indicate that both demand and supply are in decline, at least in the short run.” This seems to be causing sales prices to be more stable.

 

The graph below is a great depiction of showings through ShowingTime. It compares the change from the first week of 2020 which is the line at 0%. As you can see on March 11, the 2020 showings were slightly above 2019. The showings immediately dropped to 49% of the first week while the 2019 showings had been 39% higher than the first week for a difference of 88%. However, on May 12th the 2020 showings were up 11% and the 2019 showings were up 31% for a difference of only 20%. I just wanted you to visually see how showings dropped when the stay at home orders first started and the number of showings has recovered dramatically. The customers out right now are serious buyers.

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