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        <title>Real Estate Blog</title>
        <link>http://www.roundtablerealty.com/blog/</link>
        <description>This is Round Table Realty's Blog</description>
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            <guid>http://www.roundtablerealty.com/blog/jacksonvilles-new-construction-is-drawing-in-homebuyers.html</guid>
            <link>http://www.roundtablerealty.com/blog/jacksonvilles-new-construction-is-drawing-in-homebuyers.html</link>
            <author>Howard@RoundTableRealty.com (Howard Flaschen)</author>
            <title>Jacksonville's New Construction is Drawing in Homebuyers</title>
            <description> <![CDATA[ JACKSONVILLE, Fla. -

There is good news about the outlook of the housing market, and not just for those who buy and sell homes, but for those who build them as well.














Two of the nation's top 50 best-selling neighborhoods are in the Jacksonville area.One year ago at this time, we reported that new home sales were at a 10-year low in Northeast Florida, now they're on the way back up.


"We work hand in hand with homebuilders, and they are certainly seeing the up-tick as well, they are not worried about making ends meet, they can do this full time again," Realtor Howard Flaschen said.


Flaschen is noticing a steady upswing in home construction. The first real up-tick since the housing market unraveled. Two of the countries top selling neighborhoods, are right in our backyard, Nocatee and Durbin Crossing.


"Prices are back to before bubble prices, a lot of people thought they'd missed the train but the train came back around, and now people can get into a new home and community with a lot of amenities,"Flaschen said.


Flaschen warned builders are still being very careful in this economy. They're only building in places where they know, buyers really want to live. He said short sales and foreclosures are still attractive to some buyers, but others want the guarantee, that the house they want will be theirs.


"People want a guaranteed closing date, they want to pick their colors, there's an attraction to the warranty, not having to buy a home as is," Flasechen said.Industry analysts said the housing downturn may at least be nearing the bottom.


They say the turning point is here now, or right around the corner.

 

http://www.news4jax.com/news/2-local-neighborhoods-among-fastest-growing-in-nation/-/475880/8600132/-/rlgvnu/-/index.html
 ]]> </description>
            <pubDate>Mon, 06 Feb 2012 10:45:00 -0600</pubDate>
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            <guid>http://www.roundtablerealty.com/blog/our-jacksonville-shortsale-success-stories-rock.html</guid>
            <link>http://www.roundtablerealty.com/blog/our-jacksonville-shortsale-success-stories-rock.html</link>
            <author>Howard@RoundTableRealty.com (Howard Flaschen)</author>
            <title>Our Jacksonville Shortsale Success Stories Rock!</title>
            <description> <![CDATA[ 
Jacksonville, FL Shortsale Success


Jacksonville, FL - At the Round Table we truly believe in People Before Property and hearing from our Customers and their successes gives us goosebumps!!  We certainly love to help and we love to hear back that we exceeded expectations:


This note is something I am so extremely happy to write. I have boughtand sold countless homes over the years, but working with Howard hasbeen a great experience. Due to the unfortunate situation of the salethis could have been a harrowing situation. I was forced to do a shortsale of my property, last year 2011. I had heard all of the horrorstories about how people are treated by lenders. How they arerequested to submit forms and paperwork time and time again, just tobe served with foreclosure papers 6 months later, because the customerwas not taken seriously by the Lender.I can honestly say the Good Lord was at my back when I was referred toHoward by my Financial Adviser.  I didn't have to deal with the lenderat all. The whole process was handled by Roundtable Realty.Considering the complexity of this process it was an incredibly easyexperience.I wish everyone going through this awful experience could have theopportunity of working with a this knowledgeable and capable group ofpeople.I recommend Howard and his company to all who are interested ina truly incredible experience;."Integrity, Compassion and Understanding" is their motto.Thank you so much Howard &amp; CompanyD. MarinoJacksonville, FL.
 ]]> </description>
            <pubDate>Tue, 31 Jan 2012 21:34:38 -0600</pubDate>
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            <guid>http://www.roundtablerealty.com/blog/breakfast-at-tpc-sawgrass.html</guid>
            <link>http://www.roundtablerealty.com/blog/breakfast-at-tpc-sawgrass.html</link>
            <author>Kirstin.Walker@RoundTableRealty.com (Kirstin Walker)</author>
            <title>BREAKFAST AT TPC SAWGRASS</title>
            <description> <![CDATA[ 
BREAKFAST
AT TPC SAWGRASS


Ponte Vedra, FL - Real estate agents often work out of their car and
are also constantly meeting customers in locations near where they are showing
homes. I am no exception.


I needed a nice place to visit with out of town customers
before heading out to see homes in Ponte Vedra one recent weekend morning.
Panera was crazy busy and the local Starbucks was just a little too cramped. Lo
and behold, I found out about a little known secret: The Players Club at
Sawgrass has a dynamite breakfast and is open to the public!


All I had to do was drive up to the TPC gate and
introduce myself. The guard simply took my license plate information and waved
us in. Next, we meandered the beautiful community until we got to the Country
Club.  Surrounded by palm trees and
rolling golf hills, the club boasted gorgeous columns and staircases.  Once inside, the historical golf art blended
in well with the plush atmosphere. It was quite a place for golf lovers.


We were directed in to one of the several dining
rooms. Being is was a glorious January morning, around 68 degrees, we opted to
eat outside and enjoy the scenery. The view was spectacular, but the food was
even better!


We enjoyed the freshly brewed Starbucks coffee. One
of my companions loved his breakfast egg and bacon sandwich, but really
loved  my creamy grits. He said they were
the best he’s ever eaten…coming from someone Southern born and bred, I believe
him. They were delicious, as was my toasted bagel complete with cream cheese
and three types of jam to choose from. 
(We were eating light, as there was quite a variety on the menu.)


We were dressed casually for this Saturday morning
escapade. There is a dress code for the different dining halls. You can check
out this private, yet open to the public, jewel at http://www.tpc.com/sawgrass-clubhouse

And, if you’re
looking for a home anywhere in Ponte Vedra, let me know and we can start out
our day at the TPC Clubhouse! ]]> </description>
            <pubDate>Mon, 23 Jan 2012 13:16:54 -0600</pubDate>
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            <guid>http://www.roundtablerealty.com/blog/the-housing-bottom-is-in.html</guid>
            <link>http://www.roundtablerealty.com/blog/the-housing-bottom-is-in.html</link>
            <author>Howard@RoundTableRealty.com (Howard Flaschen)</author>
            <title>The Housing Bottom is in</title>
            <description> <![CDATA[ 
The number of Americans who signed contracts to buy homes in November rose to the highest level in a year and a half.














Phillip Spears | Digital Vision | Getty Images









Jacksonville, FL - The best reading on pending homes sales since a federal home-buying tax credit expired appeared to encourage traders on Wall Street.


 Still, the National Association of Realtors cautioned that a growing number of buyers are canceling their contracts at the last minute, making the gauge less reliable.


The Realtors group said Thursday that its index of sales agreements jumped 7.3 percent last month to a reading of 100.1.


A reading of 100 is considered healthy. The last time the index was that high was in April 2010, one month before the tax credit expired.


Stocks rose after the index was released. The Dow Jones industrial average gained more than 70 points in morning trading, and broader indexes also increased.


Contract signings usually indicate where the housing market is headed. There's a one- to two-month lag between a signed contract and a completed deal.


But a sale isn't final until a mortgage is closed and many are falling apart before that happens. One third of Realtors say they've had at least one contract scuttled in November and October, according to the Realtors' group. That's up from 18 percent in September.


Pierre Ellis, an analyst at Decision Economics, said potential buyers are "feeling comfortable with their personal situations and with the house-price trend." But the demand for homes is running into significant obstacles, he said, including tougher lending standards and bigger required down payments.


Homes are the most affordable they've been in decades. Long-term mortgage rates are at historic lows and prices in most metro areas have tumbled since late 2006.


Yet this year will likely be the worst year for new-home sales in history. Sales of previously occupied homes are just barely ahead of 2008's dismal figures — the worst yearly showing since 1997.


Americans are holding off buying a home for a number of reasons. High unemployment and weak job growth have deterred many potential buyers. Loans are harder to come by. Lenders are requiring bigger down payments and strong credit scores to qualify.


Even those with good credit and stable finances are hesitant to buy out of concern home prices will keep falling.
 ]]> </description>
            <pubDate>Sun, 01 Jan 2012 07:50:46 -0600</pubDate>
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            <guid>http://www.roundtablerealty.com/blog/why-diana-olick-is-wrong-about-housing.html</guid>
            <link>http://www.roundtablerealty.com/blog/why-diana-olick-is-wrong-about-housing.html</link>
            <author>Howard@RoundTableRealty.com (Howard Flaschen)</author>
            <title>Why Diana Olick Is Wrong About Housing</title>
            <description> <![CDATA[ 
My Ode to Diana


Jacksonville, FL - What is an ode?  I have no idea if this is one but its a soapbox nonetheless and its a microphone directed at Diana.  


Oh, Diana.  What you fail to realize when you recount your numbers, when you go on TV and duke it out with the talking heads opposite you in the quatro-box or Joe's Octo-box is that you, and so many of the analysts, like Core Logic's people, S&amp;P's etc. is that the housing market, does in fact, get local.  Super local.  Hyper-local if I may be du jour.  So local in fact that it boils down to James and Marie (names changed to defend the innocent).


http://www.cnbc.com/id/15837671


See Diana, tonight you wrote about the 2 different housing markets and how they are correlated but you leave out so much and perhaps thats because you hadn't the time to expand.  See lets go back to James and Marie.  James and Marie are ready to buy their first house, together, and theyre super excited.  Even talking about adopting at some point.  Its pretty neat and all but its been a tough road thus far.  


See they listened to the pundits who told them that they could get a huge discount on a home if the home was in distress so we searched and we found one, a shortsale.  In this case the lienholder is, lets call it Thirst Dranklin and the seller's have the kiss of a mortgage insurer on their loan as well.  So after 5 months of waiting for thir home to go through the shortsale process the MI company demanded that the sellers sign a BIG note, (0% interest) BIG.  So the seller, being scared and all wanted a lawyer to look things over but the lienholder takes their time, drags their feet, and finally, after numerous deadlines have passed James and Marie decide they really can't wait any longer as there's no telling if the home will ever close.  (As an aside the home in question hasn't closed 6 months later and the new deal put together asks for a note 75% less than the one demanded 6 months ago {shrug})


So James and Marie begin looking again and there's so many homes out there, right?  You recount the numbers and the wave after wave thats coming but James is getting a VA loan so if the home needs a new roof, has WDO, or needs some things repaired, its out.  Well guess what distress seems to equal?  Work.  Typically the shortseller themselves doesnt have the money for it, the lienholder's lackey behind the desk isnt going to pay for it, and the buyer can't or shouldnt pay for it prior to closing (a good Realtor would quikcly shoot that idea down).  So alas they pick through a bunch of homes that all need work in the hope of finding one that will work and they find it!!!


Yes, an offer is in (multiple offers beaten) and the waiting game begins again.  And they wait.......


.......


.......


..and they get word.  The MI company has rejected the shortsale!  No rhyme no reason and the agent tells them that the negotiator for the lienholder went on vacation and wont be able to advise for a week.  When the negotiator comes back, she's closed the file, and moved on without a word.  Is it possible some other attorney's office could get the train back on the tracks?  Maybe but James and Marie are in a lurch...Theyve been looking now for a year.


Well now they dont want a shortsale and the idea of getting that discount you talk about, well, they want a home.  They want to begin their lives in their house.  Paint.  Decorate.  Cook.  What to do, the community has a few that arent distressed but theyre 10% more!


Alas, at this point its an easy decision, make an offer on the more expensive one but ACTUALLY get something they'll love. See the waiting indefinitely for the predictions of price drops to come true doesnt help them now.  A miniscule price drop doesnt change their monthly payment enough to stay in their current situation.  Now, you mention appraisal problems and they happen but for the most part a short appraisal gets resolved.  You talk about financing issues and boy you couldnt be more right (USAA, BAC, WFC, Everbank are horrors) but smaller lenders are making things happen (Bank of England, Prime Lending).  


But the moral of the story in contrast to your connecting the markets, is that there are 2 or even more markets and when a buyer finally throws in the towel on trying to buy a steal that they cant live in, many times they prefer to buy the house they can, a totally separate marketplace.  Is this all the time?  No.  (Hi Sarah and Jon - names changed) But you paint with such a broad brush that I think you miss the target........ unless of course you're lobbying for housing help.  If you are lobbying for more help for housing than carry on my dear, carry on.
 ]]> </description>
            <pubDate>Tue, 06 Dec 2011 20:24:30 -0600</pubDate>
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            <guid>http://www.roundtablerealty.com/blog/winterize-your-home-in-north-florida-why-what-when-and-how.html</guid>
            <link>http://www.roundtablerealty.com/blog/winterize-your-home-in-north-florida-why-what-when-and-how.html</link>
            <author>Keith@RoundTableRealty.com (Keith Francis)</author>
            <title>Winterize Your Home in North Florida??  Why, What, When and How? </title>
            <description> <![CDATA[ 
You may have relocated to North Florida to avoid ever having to scrape ice off of your car windows, salting your sidewalk and shoveling snow from your home's driveway again. 


While the last time I can recall seeing snow here in Jacksonville was in the late 1980’s when we made a one tier snowman, we do still experience freezing temperatures at times. You may consider performing a few of these maintenance tasks in order to keep your home in tip top condition; Especially if you are on the path to listing it for sale at the start of the New Year. Here are a few pointers of things you may consider with this rapidly approaching winter:


Irrigation, Hoses and Hose Bibs


Before the first frost you will want to follow these simple steps to ensure that your hose bibs and irrigation system do not freeze.


Winterizing your irrigation system is really pretty simple: Turn off the water to the irrigation system at main valve. Set the automatic irrigation controller to the "rain" setting. Turn on each of the valves to release pressure in the pipes. Drain all of the water out of any irrigation components that might freeze.


Hose Bibs. Remove hoses from the exterior hose bibs to prevent water pipes from freezing within the wall. Wrap the pipes and the pressure reducing valve at your main water shut off to provide additional protection against freezing. On the exterior, open the hose bib and drain the water from the line. Push upward on the anti-siphon ring to ensure that all of the water is drained from the line. On the interior, open the bleeder valve at the shut off. (Make sure you have something to catch the water in.) Be sure this valve is tightened again after the water is drained and then make sure that the black washer is in the cap. Push upward on the anti-siphon ring to ensure that all of the water is drained from the line. 


Gutters and Downspouts


Clean gutters and downspouts frequently throughout fall to prevent build up of leaves and other debris. Neglected gutters can lead to wood rot problems and pest infestations. Be sure water is not coming down behind gutters and that all support brackets are securely in place. Check to ensure water drains properly and doesn’t pool, which can cause damage to foundations, driveways, and walkways. 


Windows and Doors


Inspect and repair any loose or damaged window or door frames. Install weather stripping or caulking around windows and doors to prevent drafts and lower heating bills. If you live in a home 5 years old or newer, chances are you have certain energy star/saving features in your windows. These homes were built very tightly so with your heat on and very cold air outside it is common to see condensation on your windows. Keep an eye for dripping condensation on your window sills and wipe it up. No your windows aren’t leaking; you just have somewhat of an air-tight home. 


HVAC Systems


It is generally recommended that you hire an HVAC company to regularly maintain your HVAC system.


Consider having a heating professional check your heating system to ensure optimal performance and discover minor problems before they turn into costly major repairs. Adjust the dampers if necessary, a little heat to the unused rooms of your home should be left on during the cold winter. Clean your ducts to better your heating system’s efficiency as well as to reduce household dust and to provide relief to those with respiratory or allergy problems. Clean your thermostat’s heat sensor, contact points, and contacts. Check accuracy and replace if necessary. Lubricate hot water heater’s pump and motor.  For those who will travel this Holiday season, do not turn the thermostat below 65. This practice will help protect your pipes should there be a freeze while you are out of town. Keep your outside condenser unit clear to prevent freezing. 


Landscape and Yard Work


Although grass appears to stop growing in the fall, the roots are actually growing deeper to prepare for winter. Now is the best time to fertilize and reseed your lawn. Prune your trees and shrubs after the leaves turn to encourage healthy growth in the spring. Trim any tree limbs that are dangerously close to power lines or the roof of your house. Cover the plants/trees over night with a sheet or tarp when freezing temperatures are expected. 


General Tips


During extremely cold weather, you may consider letting indoor faucets located on exterior walls drip.


Place the emergency numbers for the electrician, plumber, and heating contractor in a convenient location. When the holidays arrive, some of these contractors will be open for emergencies only, and it will be costly to you to have them come out! So hopefully these tips will spare you from that expense and you can put it toward the “Santa Fund”.  


Remember to open the damper on the fireplace when using it. As you leave the room, be sure to close the glass doors on the fireplace to keep any sparks created by the fire in the firebox. 


If you are going to be away longer than a week, turn your water heater to the “Vacation” setting. 

If you have outdoor pets, please bring them inside on the days and especially nights when there is extremely cold weather. ]]> </description>
            <pubDate>Mon, 05 Dec 2011 10:21:33 -0600</pubDate>
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            <guid>http://www.roundtablerealty.com/blog/so-how-affordable-are-homes-for-sale-in-mandarin-right-now.html</guid>
            <link>http://www.roundtablerealty.com/blog/so-how-affordable-are-homes-for-sale-in-mandarin-right-now.html</link>
            <author>Keith@RoundTableRealty.com (Keith Francis)</author>
            <title>So how affordable are homes for sale in Mandarin right now ?</title>
            <description> <![CDATA[ So how affordable are homes for sale in Mandarin right now ?  Well to start with lets pick a growing and popular area in Jacksonville Florida.  Mandarin homes for sale have been pretty hot lately based on the amount of website leads we receive and homes that are currently under contract.  Lets take this home as an example is in the heart of Mandarin and has over 2000 square feet of air conditioned space.  Three bedrooms, two baths and a two car garage is a very nice size home.  It looks to be nicely remodeled and very updated with its Interior Finishing.  The home at this date is listed at $160,000.00 and based on today's average 30year mortgage interest rates from bankrate.com of 4.15% , that gives you a principal &amp; interest amount of $758.32 per month.  You would have to add Homeowners Insurance and Property Taxes to that which could be a total of $250.00 per month as a rough estimate.  If you have VA Loan Eligibility you could be looking as little as $1,040.00 per month including taxes and insurance with a nice tax deduction waiting for you at the end of the year.  Could you even rent something this nice in Mandarin?  Not that I can find in my searches...  So are homes in Mandarin that are for sale affordable?  My opinion is YES... VERY AFFORDABLE! The market is heating up for homes for sale in Mandarin like this one that are in great condition and move-in ready.  Click the link above to see the home and all the beautiful pictures.  If you want to go to real extremes of affordability then take a look at this Three Bedroom, Two Bath and Two Car Garage attached home in Mandarin!  How about just over $500.00 a Month including taxes and homeowners insurance &amp; based on the same rates and VA Eligibilty like the home above! Homes for Sale in Mandarin are affordable! ]]> </description>
            <pubDate>Mon, 05 Dec 2011 10:07:57 -0600</pubDate>
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            <guid>http://www.roundtablerealty.com/blog/the-stats-continue-to-support-jacksonville-real-estate-stabilization.html</guid>
            <link>http://www.roundtablerealty.com/blog/the-stats-continue-to-support-jacksonville-real-estate-stabilization.html</link>
            <author>Howard@RoundTableRealty.com (Howard Flaschen)</author>
            <title>The Stats Continue to Support Jacksonville Real Estate Stabilization</title>
            <description> <![CDATA[ 
August Stats Show Continued Improvement in Jacksonville Housing Numbers



NEFAR Announces August 2011 Real Estate Sales ResultsIndicators point toward recovery: closed and pending sales up, inventory and new listings down, median and average sale prices increase, percentage of lender-mediated sales down.JACKSONVILLE, Fla. - The Northeast Florida Association of Realtors (NEFAR) announces real estate market statistics for August 2011. Statistics encompass both single-family residential and condo sales.Closed sales were up 1.5 percent year-over-year, coming in at 1,441 sales for the month. Pending sales popped in August, jumping 24.4 percent year-over-year to reach 1,744.Inventory in August was noteworthy, dropping 32.2 percent from a year ago to arrive at 11,167 properties for sale as opposed to last August's 16,464. The number of months supply of homes for sale also showed exceptional improvement year-over-year, dropping from 11.8 months last August to just 7.9 months this August; a 33.1 percent drop. A market is considered balanced when there is roughly a five- to six-month supply of properties, indicating that northeast Florida is on the cusp of that normalcy.New listings were also markedly down, dropping 20.7 percent from 2,924 in August 2010 to 2,319 this August.Prices also rallied a bit in August. The overall median sales price was $138,000; a 2.2 percent increase over $135,000 last August. The $180,823 average sale price was 6.6 percent higher than last August's $169,658.The balance between traditional sales and lender-mediated sales also moved in the right direction. Of the 1,441 sales for the month, 626 (42.8 percent) were lender-mediated while 835 were traditional. Last August, more than 51 percent of sales were lender-mediated.NEFAR President Dane Leslie says, "August was a month of numerous positive indicators, sending a clear signal that we are on the path to a stabilized market with recovery now in progress."All of the statistics above, plus numerous others, are included in the FREE statistics reports available on the Newsroom | Market Stats tab ofwww.NEFAR.com. Two report categories are available: 1) The Monthly Indicators and Housing Supply Overview Report summarizes complete activity for NEFAR's entire service area plus *partial information for St. Johns County and Nassau County. 2) Lender-Mediated sales reports offer a birds-eye look specifically at lender-mediated sales and how they compare to traditional sales. Time-savings tip: For the quickest review of key indicators for the month, see page 2 (Market Overview) of he Monthly Indicators Report.

The Northeast Florida Association of Realtors provides professional development, political advocacy, professional standards administration, media relations, and promotional activities and exchange of information among its members. NEFAR serves as the voice for real estate in northeast Florida; serving the public through efforts to protect private property rights and community affairs programs. NEFAR is Northeast Florida's largest professional association, comprising nearly 5,000 members working in all facets of the real estate industry, including residential and commercial sales as well as property management. All statistics in NEFAR's reports are based on data compiled from NEFAR's wholly owned subsidiary, the Northeast Florida Multiple Listing Service (NEFMLS). NEFAR is headquartered in Jacksonville, with satellite Service Centers in Orange Park, Jacksonville Beach, Palatka and World Golf Village.* As all Nassau and St. Johns County Realtors are not participants of the NEFMLS, reports provided to not represent the full extent of Realtor sales in those counties. ]]> </description>
            <pubDate>Sat, 05 Nov 2011 16:05:48 -0500</pubDate>
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            <guid>http://www.roundtablerealty.com/blog/buying-a-north-florida-home-isnt-just-about-the-home.html</guid>
            <link>http://www.roundtablerealty.com/blog/buying-a-north-florida-home-isnt-just-about-the-home.html</link>
            <author>Howard@RoundTableRealty.com (Howard Flaschen)</author>
            <title>Buying a North Florida home isn't just about the home...</title>
            <description> <![CDATA[ 
There are a lot of hoops to jump through


Financing just being one of them


Jacksonville, FL - Realtors dont just open doors for you, they link you up with professionals who will actually execute the gameplan so that the home will be yours...someday.  Unless you're a cash buyer you also have to worry about financing your purchase and there may be no more critical part to the program than finding the best professionals, who speak the truth, and can live up to the expectations that they have set.


This is why its so important to take your Realtor's recommendations to heart when they present you with your choices of which financier to use.  You are entitled to use anyone you'd like however when you mention the name of the intended bank, your Realtor's reaction may tell you just how likely it is that that bank or lender will perform for you.


Your Realtor, including your Round Table Realtor, will be able to tell you anecdotally just what has happened to their past customers and how you can avoid the same heartache some of them have experienced.  There are a lot of ways to get your Jacksonville homepurchase financed but teaming up with one of the Round Table Professionals to help navigate through the storm may be the difference between you moving in on time or you finding someplace to crash while your lender tries 'to figure it out, while working on it.'  You have nothing to lose.  Working with the Round Table is free for homebuyers so pull up a chair and allow the Round Table to guide you through to your eventual new home.
 ]]> </description>
            <pubDate>Wed, 02 Nov 2011 12:02:47 -0500</pubDate>
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            <guid>http://www.roundtablerealty.com/blog/north-florida-real-estate-is-heating-up.html</guid>
            <link>http://www.roundtablerealty.com/blog/north-florida-real-estate-is-heating-up.html</link>
            <author>Howard@RoundTableRealty.com (Howard Flaschen)</author>
            <title>North Florida Real Estate is Heating Up</title>
            <description> <![CDATA[ 
North Florida Real Estate is Heating Up


Jacksonville, FL - You do not have to believe me.  Shoot, if you need some negative news about the National Housing market? Just look up Diana Olick on CNBC for your fair share of melancholly.  Want to know what's happening locally?  Ask you friendly Realtor (or me if you dont have one).  Ive been banging the drum that I was feeling the market starting to firm up and boy is it.  Inventory is down around a third!!  


Are more homes going to hit the market?  You betcha but with rates this low and people still dying to relocate to Florida and not Miami the Top Right is starting to reinflate.  Just today one of my buyer's had whittled it down to 4 homes that they're considering making an offer on but thats been forced down to 3 as someone else has snagged their favorite.  Another one of my customer's, the Pikes from the Northeast, finally got under contract on their 3rd attempt at a condo in Ponte Vedra.


Its becoming a common refrain I hear when customer's ask me about the market and I tell them what I'm seeing.  "What?! Are you serious?"  Yes I am.  Are prices going to remain here?  I dont know.  Are they going to drop 50%? I doubt it.  Will I be able to sell my home in 5 years for more then I paid for it?  I hope so but all of these things dont change the fact that...


The good homes, that people want, in areas that they want to live, are being snagged up at prices near the bottom and interest rates historically low and in 10 years, in my opinion, these homebuyers will be thankful that they struck while there will be a group of people who said.... "hmmm, If only I'd have bought when prices were low and interest rates were so good".


Dont take my word for it:




Closed sales were up 1.5 percent year-over-year, coming in at 1,441 sales for the month. Pending sales popped in August, jumping 24.4 percent year-over-year to reach 1,744.Inventory in August was noteworthy, dropping 32.2 percent from a year ago to arrive at 11,167 properties for sale as opposed to last August's 16,464. The number of months supply of homes for sale also showed exceptional improvement year-over-year, dropping from 11.8 months last August to just 7.9 months this August; a 33.1 percent drop. A market is considered balanced when there is roughly a five- to six-month supply of properties, indicating that northeast Florida is on the cusp of that normalcy.New listings were also markedly down, dropping 20.7 percent from 2,924 in August 2010 to 2,319 this August.

http://www.nefar.com/real-estate-newsitem.php?a=100&amp;page=1&amp;sn=
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            <pubDate>Thu, 29 Sep 2011 15:08:41 -0500</pubDate>
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