Beaches Market Trends Update

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The Numbers Tell the Story of the Current Real Estate Market In Jacksonville Beach

 

Why you really need to use a Realtor® when you sell your home

Home sellers reveal why they decided to bypass professional representation—and the mistakes they made without a trusted adviser. Homeowners who decline to use a real estate agent to sell their property are twice as likely to say they weren’t satisfied with the selling experience, according to a new survey from Clever Real Estate of 1,000 home sellers in 2022 and 2023. Survey respondents say they realize they likely made less money on their home sale and faced more stress by not having a professional representative.

Those who didn’t use a real estate agent said before their transaction that they think pros are overpaid for what they do and are not more knowledgeable about the homeselling process than the average seller. However, when these respondents reflected on their experience after the transaction, they admitted that they made some mistakes without the help of a pro. More than a third of non-agent sellers, such as FSBOs or those selling to an iBuyer, said the process was more difficult than they expected. What’s more, these sellers admitted: Buyers distrusted them because they didn’t have an agent (43%). They struggled to understand their contract (40%). They made legal mistakes because they didn’t use an agent (36%). 

The survey also found other consequences of going it alone as a seller: Lower sales price: Homeowners who sold without a real estate agent are three times more likely to say they lost money on their home sale. The Clever Real Estate survey found that those who sold their home with an agent tended to earn $46,603 more in average profits than those who sold without an agent in 2022 and 2023. About half of unrepresented sellers say they wish they had priced their home differently, and nearly half now believe their home would have sold for more if they would have used an agent. Longer selling process: Home sellers without an agent are nearly twice as likely to say they didn’t accept an offer for at least three months; 53% of sellers who used an agent say they accepted an offer within a month of listing their home. Ironically, many homeowners who didn’t use an agent said the primary reason for going it alone was to sell faster. More stress: Half of home sellers who did not use an agent admit to crying at some point in the process. Fifty-two percent of unrepresented home sellers said they felt overwhelmed by the entire sales process. 

On the flip side, homeowners who hired an agent were more likely to say they felt good about their sale and expressed less stress. To be fair, home sellers who used an agent also had some gripes about their experience, albeit much fewer. But those who were unhappy with their agent experience expressed feelings like their agent was only looking to make a sale and didn’t care about their interests, their agent “annoyed” them, or they thought the agent pressured them into decisions, the survey found. 

That said, 77% of respondents who used an agent say they were satisfied, and 72% say they would use their agent again. Even as the vast majority of home searches start online, most consumers still use real estate agents to buy or sell a home. Indeed, the National Association of REALTORS®’ 2023 Profile of Home Buyers and Sellers found that 89% of buyers and sellers in the last year used a real estate agent, up from the previous year. Only 7% of homeowners sold as a FSBO over the last year—which matches the all-time low recorded in 2021, according to NAR data. FSBOs continue to not fare as well in the market as professionally represented homes: FSBOs sold at a median price of $310,000 in the last year, compared to $405,000 for listed homes, NAR’s data shows. “Having a REALTOR® help you navigate the homebuying and selling process provides peace of mind, especially in a challenging market with high prices, elevated mortgage rates and limited inventory,” says NAR President Tracy Kasper.

It's hot as blue blazes in Jacksonville Florida!! Tips to enjoy your day in Jax Beach.

 With its super hot weather, Jacksonville Beach, FL offers a variety of activities to help you beat the heat and enjoy your time. Here are some ideas:

1. Beach Fun: The obvious choice is to hit the beach! Jacksonville Beach offers sandy shores and warm waters. You can swim, sunbathe, build sandcastles, or simply take a leisurely stroll along the shoreline.

2. Water Sports: Embrace the heat by engaging in water sports such as surfing, paddleboarding, kayaking, or jet skiing. The ocean is your playground, and these activities can help you cool off while having a blast.

3. Fishing: Jacksonville Beach is known for its excellent fishing opportunities. You can fish from the pier or join a charter boat trip for deep-sea fishing.

4. Beach Volleyball: Many beaches have designated areas for beach volleyball. Gather your friends or join a pickup game to get active while enjoying the sea breeze.

5. Beachfront Dining: There's nothing like indulging in delicious seafood while overlooking the ocean. Check out beachfront restaurants and enjoy a meal with a view.

6. Ice Cream and Frozen Treats: Treat yourself to some ice cream, frozen yogurt, or other cold treats available in the area. It's a perfect way to cool down and satisfy your sweet tooth.

7. Outdoor Events: Check for any outdoor events, concerts, or festivals happening in the area. These events can provide entertainment and distraction from the heat.

8. Shopping: If you prefer staying indoors, explore local boutiques and shops. Jacksonville Beach has a variety of stores where you can find unique souvenirs, clothing, and more.

9. Indoor Activities: To escape the heat, you might want to visit indoor attractions like museums, art galleries, or shopping malls. The Beaches Museum & History Park could be a good option.

10. Sunset Watching: The heat tends to lessen as the day goes on. Take advantage of the cooler evening temperatures by heading to the beach to watch the sunset. It's a beautiful and relaxing way to end the day.

11. Stay Hydrated: Regardless of the activity you choose, make sure to stay hydrated. Carry water with you to avoid dehydration in the hot weather.

Remember to take precautions when spending time in hot weather, such as applying sunscreen, wearing appropriate clothing, and taking breaks in the shade. Always prioritize your health and safety while enjoying the attractions Jacksonville Beach has to offer.

Inventory Up in Jax Beach. Prices down in Jax Beach. Surfs up Jax Beach

Time to Sell Your Home in Jacksonville Beach??

The time to sell is a waiting game for some

 

By Megan Hopkins • March 21, 2013 •

 

Real estate is always a game of knowing when to make your move. With that in mind, industry experts suggest move-up buyers remain mindful of how quickly home prices appreciate while riding the current market recovery. For move-up buyers wanting to wait out rising home prices to ensure they can sell their current home at a maximum price, analysts say the value of such a move depends on when the homeowner purchased their current residence.

 



Daren Blomquist, vice president of RealtyTrac, says homeowners who purchased during the down market of the last two or three years would be wise to move up in 2013. "Because they bought near the bottom, these homeowners should have built up some good equity that can go toward the purchase of a new home, and waiting longer to build more equity likely won’t provide much advantage given that other homes that they might want to move up to will also be appreciating at roughly the same pace," said Blomquist. He added, "In addition, the low interest rates of 2013 are certainly not guaranteed to last forever."

According to data from the Mortgage Bankers Association, mortgage rates are expected to reach 4.4% in the next 12 months and the 20-year average could possibly hit as high as 6.5%. Real estate broker Redfin says this is precisely the reason why some homeowners wanting to sell their current home in lieu of finding a nicer one should not wait. While waiting a few years will most likely mean the selling price of the current home will be higher, it also means the price of the new home will rise as well. "If you're selling one house just to move up to another, it does you no good to wait for prices to rise — the price of the move-up home will increase faster than the price of the place you're leaving behind," said Redfin CEO Glenn Kelman. With that being said, Blomquist warns potential homebuyers against rushing to buy a home once they have sold their current home. According to RealtyTrac data, more foreclosure inventory will become available in the next six to 12 months in markets with rebounding foreclosure activity in 2012. Markets such as Florida, Illinois, Ohio, Pennsylvania, New York and New Jersy will see the strongest growth in foreclosure inventory, according to RealtyTrac. "Particularly in these markets it might be good for the move-up buyers to sell in the spring when inventories are still tight, rent or stay with family for a few months, and then buy in the fall when that additional foreclosure inventory is listed for sale," said Blomquist.

 

However, for homeowners who purchased near the peak of the housing market — in the past five to seven years — it’s probably better to wait for home prices to rise further before they sell and move up, Blomquist advises. "If these folks need to move because of a job or other reason, it is worth considering renting out the property in the short term to take advantage of the strong rental market," said Blomquist.