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What's a 'Best-Bet' Investment in These Turbulent Times? Real Estate.

2011-09-27T19:54:17Z

With all of the recent social and cultural upheaval around the globe, the resulting volatility of world financial markets, and partisan politics fueling a federal debt crisis right here at home, investors finally are beginning to realize that real estate in proven resort markets like Amelia Island should have a definitive place in their portfolios.

Right now there are broad indications that those who buy in the next 12 months may be celebrating five years from now (and beyond), while those who don’t may be looking back with regret.

In fact, many signs point to a ‘buy’ indication, but three in particular are especially attractive for buyers who are purchasing now: very discounted prices, attractive mortgage rates, and sellers who respond positively to “cash” purchasers (within reason).

Real estate values likely have bottomed out, and liquidity can be preserved by borrowing at historically low interest rates for investment in very high-quality properties below replacement cost.

One of the biggest bright spots in the national housing market is affordability, which was near an all-time high in the second quarter of 2011 according to the National Association of Realtors. Falling prices have made homes more affordable. In fact, the trade group’s affordability index measured the third-highest on record after the first quarter of 2011 and the fourth quarter of 2010.

Nationally, average home prices in June were 7.9% below a year ago, which was the height of the small boom spawned by the federal tax credit. However, prices are still up 4.1% over the first quarter. And as expected, retail sales rose 0.5% in July, up from 0.3% in June; the biggest increase in the past four months.

Better yet: The Federal Reserve announced on August 9 that it has the tools to keep interest rates low through 2013.

In Nassau County, real estate sales totaled $267 million between January and September 2011, compared with $255 million for same period in 2010. Of this new total, COLDWELL BANKER The Amelia Group closed $41 million in volume sales compared to $35 million for same period in 2010.

So, although listing volume in the county is down approximately 30% (year-to-year), sales are up about 5%. This in itself could be a harbinger of a positive shift in the local supply-and-demand curve.

To recap, it’s time to be among those smiling—not frowning—because you are among those recognizing the time has come to acquire an investment that truly will provide years of intangible returns for generations of your family; to fully enjoy a family asset that is protected by a market with limited inventory and very substantial ownership equity. The contrarians are buying now.

Let me help you see the light. As a proven market leader, I take great pride in working tirelessly to ensure that every buying and selling experience exceeds my clients’ expectations. I’ll be glad to take the time to explain the competitive advantages you can achieve as your agent of choice. Please contact me at your convenience.

Buy Amelia Island. Buy Florida. Buy Now. Why? Because You Can!

2011-06-02T22:54:00Z

Even with its stable market growth in population, residential expansion and retail development marked by the latest Chamber of Commerce and census figures, Amelia Island remains one of the better kept secrets among resort communities in the U.S.

Further diminishing any broader visibility in recent years has been the economic downturn, to which our historic barrier island and, indeed, greater Nassau County, have not been altogether immune.

Often times, however, two negative current realities can portend a quite positive omen for the days ahead. This, dear friends, is one of those times—in spades!

Just this week, Standard & Poor's/Case-Shiller reported that prices fell from February to March in 18 of the metro areas tracked in its 20-city index. Further, prices in a dozen U.S. markets have reached their lowest points since the housing bubble burst in late 2006.

Want more perspective? Prices have now fallen further since the bubble burst than they did during the Great Depression. And many economists think prices nationally will drop at least 5 percent more by year's end.

Here in Nassau County, tucked neatly into the northeast corner of Florida just below the Georgia border, housing prices are at a new low. In fact, many home prices today are just half of what they were in 2005.

To prospective buyers, including an increasing number of Baby Boomers retiring each year, the news could not be more promising. Lower home prices, combined with attractive mortgage rates (recently quoted 30-year fixed averages of 4.5% - 4.875%) spell one thing: extraordinarily better value that positions them optimally for the future when prices rise again.

And what’s not to love about location, location, location?

Ideally situated to serve important domestic and international markets, Nassau County comprises 652 square miles and generally is divided into three areas: Hilliard to the northwest, Callahan to the west, and Amelia Island, Fernandina Beach, and Yulee to the east of I-95.

The county is a rich blend of rural, wooded areas to the west and beautiful rivers, sounds, beaches and the Atlantic Ocean to the east.

Amelia Island is a unique, 13.5-mile long barrier island perfectly suited to visiting and permanent or part-time living. Population is 20,000. Just 20-25 feet above mean sea level, the 18.2-square mile area is bounded on the east by the Atlantic Ocean and on the west by the Amelia River and the Intracoastal Waterway. Width varies from one-quarter mile to two miles.

At the north end of the island sits Fernandina Beach, a quaintly historic seaport that is the home of the modern shrimping industry. It encompasses seven square miles of Amelia Island, and its 50-block downtown district is on the National Registry of Historic Places. Population is just over 11,000, and it’s the only site in the U.S. ever to have been governed by eight flags of dominion: France, Spain, Britain, the Patriots, Green Cross of Florida, Mexico, Confederate, and the USA.

Weather-wise, the area offers all four seasons, but nine wonderful warm-weather months. Amelia Island boasts some of the best beaches in the country, four- and five-star hotels, charming B&B’s, and upscale resorts including the Ritz-Carlton and Amelia Island Plantation, with the resort side now operated by Omni Hotels. Residents and visitors alike enjoy numerous outdoor activities including biking, swimming, dock and deep sea fishing, boating, kayaking, golf at any of a number of public and private courses, and horseback riding along the white sandy beaches. Festivals dot the calendar throughout the year on both sides of Nassau County.

Coming and going is easy, too. Children of residents and other visitors have easy travel access through Jacksonville International Airport, just 26 miles southwest of Amelia Island. And the island is comfortably reachable in less than a day by car from cities like Charleston, SC (230 mi.), Raleigh, NC (440 mi.), Mobile, AL (430 mi.), Atlanta (360 mi.) and Miami (380 mi.).

The bottom line: It’s an exciting time in Nassau County. More people want to be here, and the timing couldn’t be better to purchase a property on or off Amelia Island. It truly is time to rethink your priorities; a time to move confidently forward while market conditions are in your favor.

Contact me at your convenience. I always take great pride to ensure that my work on behalf of every client exceeds their expectations. I’ll be glad to explain the competitive advantages that you can achieve as your agent of choice.

Sales ‘Spring’ Ahead in Nassau County; Plantation Home Tour This Saturday

2011-04-01T14:57:00Z

Area home buyers and sellers apparently are in lock step with an early changing of the seasons in Nassau County, springing to action just as new shoots and blossoms begin to emerge across our beautiful landscape.

The positive economic news: real estate activity continued brisk into March, with year-to-date sales in the county totaling $94 million vs. $80 million at this same time in 2010; an increase of 14.8 percent.

This trend was mirrored in our broader region, with the Northeast Florida Association of Realtors this week announcing a 12.9 percent increase in year-to-year sales. Pending sales also showed gains, jumping 10.7 year-over-year.

Northeast Florida inventory dropped 25.2 percent to reach 9.2 months, signaling a continued move in the right direction toward a balanced market of five- to six-months’ inventory. Overall, the inventory of homes for sale dropped from 15,721 last year to 12,998 this year, a reduction of 17.3 percent.

Nassau County listings volume of $191 million year-to-date was down from $239 million in 2010. Thus, demand currently is somewhat outpacing supply. However, with lower median sale prices, the current real estate environment is turning out to be a plus for both home buyers and sellers.

Landmark Sale

Wonderful news for the luxury market: a $3 million sale of an oceanfront villa in Dunes Club on the Omni Amelia Island Plantation was recorded in early March. Previously, there had been no recorded sales over $1.3 million in the Dunes Club complex during the past 30 months.

Personally, year-to-date, I’ve listed $6 million and closed $4.3 million in sales. Seven deals currently are pending, with 60% of the transactions being cash purchases.

Spring Home Tour

Saturday, April 2, Coldwell Banker The Amelia Group is proud to feature our Spring Home Tour—a planned open house event at Dunes Club and Long Point on Omni Amelia Island Plantation.

A total of 13 properties will be open for your viewing pleasure, and refreshments will be served at all sites. Come out and see these spectacular properties. We’ll look forward to meeting you!

Collectively, we continue to see optimistic signs of real estate growth on Amelia Island and throughout Nassau County. I believe this trend will continue, and encourage you to move confidently ahead if you’re presently considering the sale of your home or the purchase of another property.

As always, I take great care in striving vigorously to make certain that every buying and selling experience exceeds my clients’ expectations. Please contact me at your convenience, and I’ll be glad to explain the competitive advantages you can achieve as your agent of choice.

By the Numbers: Latest Data Shows Home Sales Up in Nassau County

2011-02-17T23:10:00Z

More often than not these days, I hear (or overhear) people suggesting or even saying, frequently without basis or merit, that they believe real estate is stagnant; that nothing in the market is moving, adding to our recession woes nationally, regionally and, most important, locally—here on Amelia Island.

Actually, quite the contrary is true: real estate is one of the truly bright spots among leading economic indicators, like job growth, that otherwise continue to lag and disappoint.

According to the National Association of Realtors^® (NAR), existing-home sales rose sharply in December, increasing for the fifth time in the past six months. Such sales—which represent completed transactions that include single-family, townhomes, condominiums and co-ops—rose 12.3 percent to a seasonally adjusted annual rate of 5.28 million in December, up from 4.70 million in November.

And Lawrence Yun, NAR’s chief economist, reported sales are on an uptrend. “December was a good finish to 2010. The pattern over the past six months is clearly showing a recovery. The December pace is near the volume we’re expecting for 2011,” he said, “so the market is getting much closer to an adequate, sustainable level.”¹

Further, existing-home sales in the southern United States increased 10.1 percent to an annual pace of 1.97 million in December, NAR reported.

Here at home, Nassau County statistics parallel this positive trend. From 2008-2010, existing-home sales in the month of December increased 13 percent, while similar sales for January, from 2009-2011, jumped 10 percent.

Year-to-year county comparisons are even more encouraging. After total property volume closures slipped a devastating 38 percent from 2007-2008, this number improved by a whopping 26 percent between 2008-2009 to a drop of just 12 percent.

In the latest year for which data is available, 2009-2010, the turnaround not only is complete but reveals cheerful optimism for the years ahead. Nassau County registered a 21% increase in total dollar volume sales year to year, with 1,580 units sold and an average sale price of $247,000.

COLDWELL BANKER The Amelia Group led all of Nassau County in 2010 volume with over $63 million in closed sales. Our office also led with $161 million in listed property.

Personally, I’m pleased to report that I was Top Producer for all of Nassau County in 2010, closing over $15 million in volume sales—and also led our office with over $43 million in volume listings.

Clearly, we are seeing very positive signs of real estate growth in Nassau County and, in particular, on Amelia Island. It’s time to rethink your buying and selling priorities, and to move confidently forward if you’re considering the sale of your home or the purchase of property.

As a proven market leader, I take great pride in working tirelessly to ensure that every buying and selling experience exceeds my clients’ expectations.

Contact me at your convenience, and I’ll be glad to explain the competitive advantages you can achieve as your agent of choice.

1-National Association of Realtors; Washington, DC; January 20, 2011.

Choosing a Real Estate Agent

2011-01-10T00:52:00Z

Beginning this week, and in the weeks to come, it’s going to be my pleasure to share with you current data, trends and real-time happenings in the local and regional real estate market comprising Amelia Island and historic Fernandina Beach. As a full-time, conscientious realtor with nearly 17 years of experience in this truly unique coastal marketplace, I will also offer my thoughts, views, and opinions on substantive issues of the day, national events that may affect us here in Northeast Florida, as well as the lighter side of island living. I invite you to join in with your feedback to any and all postings that may interest you.

Choosing a real estate agent is not something to be taken lightly. In fact, it can be the single most important aspect of selling or purchasing a home because the agent you choose is your new employee, and it’s critical that you’re happy with the job he or she does for you.

As with any important decision in your life, you really need to do your homework:

Select a licensed professional who has thorough knowledge of the local market and will assist you in getting the best value for your home.

Be sure the agent is affiliated with MLS, the Multiple Listing Service. MLS means that your home will be distributed in the multiple listings and on the web site www.realtor.com, thus providing you with greater exposure than you will achieve with an independent agent. If purchasing, you'll have access to all listings accessible through the MLS.

Look for motivation and efficiency; an active agent who always comes to every meeting well prepared.

Find an agent who is friendly, willing to listen, and genuinely interested in servicing your specific real estate need.

Choose an agent with compassion for your situation; one who is insightful, candid and who will work hard to affect your desired result.

Finally, be sure that the agent you select will be available when you need him or her; proactively communicative and simultaneously responsive.

In today’s ever-changing market, it’s increasingly more important to choose an agent wisely. Humbly, I am now among five top producing, deeply experienced realtors who have assembled to create COLDWELL BANKER The Amelia Group, offering unparalleled service with proven results. I am honored to have the opportunity to work tirelessly for my clients, and to make sure their home-selling or home-buying experience exceeds their expectations. If you are considering the sale of your home or the purchase of property, I will be glad to explain the competitive advantages you can achieve as your agent of choice.

Welcome

2010-12-04T17:32:30Z

Welcome to my blog. Please check back soon for new entries.