Interest Rates Continue to Rise!

From Freddie Mac 04/17/2024 Mortgage Rates Exceed 7 Percent for the First Time this Year MCLEAN, Va., April 18, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 7.10 percent. “The 30-year fixed-rate mortgage surpassed 7 percent for the first time this year, jumping from 6.88 percent to 7.10 percent this week,” said Sam Khater, Freddie Mac’s Chief Economist. “As rates trend higher, potential homebuyers are deciding whether to buy before rates rise even more or hold off in hopes of decreases later in the year. Last week, purchase applications rose modestly, but it remains unclear how many homebuyers can withstand increasing rates in the future.” News Facts The 30-year FRM averaged 7.10 percent as of April 18, 2024, up from last week when it averaged 6.88 percent. A year ago at this time, the 30-year FRM averaged 6.39 percent. The 15-year FRM averaged 6.39 percent, up from last week when it averaged 6.16 percent. A year ago at this time, the 15-year FRM averaged 5.76 percent. The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. For more information, view our Frequently Asked Questions. Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home.

Home Prices Expected to Rise in 2024

According to Real Estate gurus at KCM (Keeping Current Matters): Prices aren’t likely to depreciate in 2024 because inventory is still tight and lower mortgage rates are leading to strong buyer demand. Those two factors will keep pushing prices up as the year goes on. As Selma Hepp, Chief Economist at CoreLogic, explains: “With mortgage rates dropping, demand for homes in early 2024 is likely to be strong and will again put pressure on prices, similar to trends observed in early 2023 . . . Most markets will continue to reach new home price highs over the course of 2024.” What Does This Mean for You? Experts are saying home prices will go up this year, and that’s good news if you’re thinking about buying a home. When you become a homeowner, you want the value of your house to go up. That appreciation is what builds equity and makes homeownership such a good investment over time. Beyond that, expected home price appreciation also means if you’re ready, willing, and able to buy, waiting just means it will cost more later.

Southside Condo For Sale Jacksonville, FL

Things to do in Jacksonville Florida in October

Mark Your Calendar

Fri. - Sun. 10/13-10/15

WasabiCon at Prime Osborn Convention Center Fri. 10/13

The Florida Ballet’s Dracula at Jacksonville Performing Arts Center Sat. 10/14

TEDxJacksonville Conference 2023: Human/Nature at WJCT Sun. 10/15

Jacksonville Jaguars vs. Indianapolis Colts at EverBank Stadium Thurs. 10/19

Sip & Stroll Presented by PNC at Southbank Riverwalk

SOLD Listing In the Baymeadows-295 Area of Jacksonville FL 32256

 

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.

Five Reasons People Are Moving to Northeast Florida from New York

I have a hundred reasons why people are leaving New York and coming to Northeast Florida.  Here are my top 5 reasons.

1. Affordable Cost of Living: Northeast Florida offers a more affordable cost of living compared to New York. Housing prices, property taxes, and general expenses tend to be lower, allowing individuals and families to stretch their budgets further.

2. Pleasant Climate: Northeast Florida enjoys a mild climate with warm summers and mild winters, making it an attractive destination for those seeking a break from New York's harsh winters. The region's pleasant weather allows for outdoor activities and a generally more relaxed lifestyle.

3. Outdoor Recreation Opportunities: Northeast Florida boasts beautiful beaches, rivers, and parks, providing ample opportunities for outdoor recreation. From surfing and fishing to hiking and wildlife observation, residents can enjoy an active lifestyle surrounded by natural beauty.

4. Vibrant Cultural Scene: Northeast Florida offers a vibrant cultural scene with a mix of historical sites, museums, art galleries, and live performances. The region is home to the Cummer Museum of Art and Gardens, the Museum of Science and History, and the historic St. Augustine, attracting both residents and tourists alike.

5. Growing Job Market: The Northeast Florida region, including cities like Jacksonville and St. Augustine, has experienced a growing job market. The region has seen an increase in industries such as healthcare, technology, logistics, and finance, creating employment opportunities for professionals seeking new career prospects. We have one of the lowest unemployment rates in the country. New businesses are relocating here daily.

Jacksonville Jaguars to have one of a kind stadium 2014

Jacksonville will soon become the home of the largest video screen in the world! Our beloved Jacksonville Jaguars received approval from the city council to proceed with their amazing stadium enhancements.  For a mere 63 million dollars, the Jaguars will now have the most exciting fan experience in the entire NFL!

The North end zone of beautiful EverBank field will become a warm Sunday afternoon oasis. Complete with several swimming pools and the best bar and food service in Northeast Florida; our fans will be the coolest fans in the country! The pool(s) will keep those hot Jaguar fans as cool as cucumbers.

Now for the amazing details. Are you ready for some football?  You better be at the Stadium and not at home stretched out on the couch! The LED scoreboards in each end zone, each measuring 55 by 301 feet, make them the largest of their kind in the world. If that isn’t enough of a view for you, there will be two sideline boards, each measuring 3.6 by 579 feet.  If that isn’t enough, there will also be two displays in the Bud Light Party Deck and above the Terrace Suites in the South End Zone, each measuring 3.6 by 106 feet! And for good measure, there will be two displays over the tunnels, each measuring 6 by 22 feet and one display in the North End Zone measuring 10 by 400 feet.

The families in Jacksonville Florida not only have the Jaguars to watch during football season, there is also the Gator Bowl, the World Cup Qualifier MLS Soccer game, and of course, the amazing Monster Truck show to enjoy. With the completion of the stadium upgrades, even more events will be scheduled.

Our EverBank field is in the heart of Jacksonville Florida and now it’s going to be the home of the very best fan experience in the world.

Just another reason to make Jacksonville YOUR home. Hurry up and get here! We’ll save you a seat at the Stadium.

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.