by Jenn Heller

So, your new home purchase is on the horizon with a "pending" status; congratulations! You've successfully navigated inspections, and negotiations, and the offer has been accepted. But what does "pending" really mean? In this article we will be shedding light on the intricacies and offering valuable insights for both buyers and sellers on the pending status in real estate.

Once a buyer's offer is accepted, the home enters the contract stage. The buyer has inspections performed and can back out based on inspection results or negotiations. Properties can be "contingent under contract" and "taking backup offers," if additional conditions exist beyond typical inspections, appraisals, and loan approvals. Once these contingencies are…

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by Willow Logue

Most of the discussions around buying and selling are financial. For many, owning a home is the single biggest investment they will make. Even if it's not, understanding the finances is a very big part of the consideration. Lately, with current mortgage rates hovering around 7% and inventory low, all the headlines can be discouraging. However, even when all the financial aspects are perfect, seldom does the dream house come on that ticks all the boxes (price, location, living space, pool, etc). If the dream does materialize, usually it's someone else's dream too.

Thus, buyers (and sellers) should also consider the unquantifiable joy a home might offer. What will buying or selling bring to your life? What freedoms, life experiences or…

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by Jenn Heller

That house you've been eyeing? Well, it's officially labeled as "under contract" now. But don't toss in the towel just yet—there might still be a glimmer of hope.

So, what's this "under contract" business all about? Gwinn Volen with The Volen Group says, "When a home goes under contract, it means the seller and buyer have shaken hands on a deal. They've both signed on the dotted line, and the buyer has paid a binder deposit."

This binder deposit is usually required within three days of agreement and will become non-refundable to the buyer once contingencies to the contract have expired. The binder deposit is usually 2 to 3% of the home's price. This money later gets deducted from your final amount due at closing.

…

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by Aaron Bacus, Mortgage Broker, First Coast Mortgage Funding

The journey towards homeownership is an exciting one, filled with dreams of cozy living spaces, white picket fences, and the pride of calling a place your own. But before you dive headfirst into the world of real estate listings, it's crucial to understand a fundamental question: How much mortgage can you truly afford? As a trusted mortgage broker, I'm here to guide you through this critical step on your path to becoming a homeowner.

Assess Your Financial Landscape

The first step in determining how much mortgage you can afford is to take a close look at your financial situation. This involves calculating your monthly income, factoring in any steady sources of…

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by Aaron Bacus, First Coast Mortgage Funding

Purchasing a home is an exciting milestone, but it can also be an overwhelming process. A Mortgage Broker can guide you through the maze of mortgage options, ensuring that they make informed decisions and secure the best possible financing for your home. Let’s explore key considerations and valuable insights to assist in navigating the world of mortgages with confidence.

bank maze

Understanding Your Financial Picture

Before embarking on your homebuying journey, it's crucial to assess your financial readiness. Take stock of your income, expenses, and credit profile. A thorough review of these factors will enable you to determine your budget and identify any potential roadblocks. Working with a Mortgage Broker…

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by Gwinn Volen

PRESS RELEASE

Stunning Modern Oceanfront Residence Sells at a Record-Breaking Price in 44 Days


Ponte Vedra Beach, FL

In just 44 days, 1329 Ponte Vedra Boulevard closed at a new NE Florida record high sales price of $16,250,000. The home is still a few months away from completion.

"This is one of the most beautiful oceanfront homes in Ponte Vedra Beach," says real estate agent Gwinn Volen of Keller Williams Luxury. "It's sleek, modern and incredibly well-built."

Volen sourced and worked with both the seller and buyer to pull the transaction together. 

"I'm not at all surprised that the home sold so quickly," says Volen. "Ponte Vedra Beach's oceanfront property has been undervalued in my opinion, and our market is finally…

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By Gwinn Volen

Analysts and talking heads have speculated for months now that the real estate market could crash. The western half of the US has seen some bigger declines, but a crash is definitely not the case in NE Florida.

The reason for this is that supply remains low in our area. An over-supply is what ultimately would drive drastic price cuts.

Additionally, Florida continues to see an influx of newcomers. According to Census data, Florida was the fastest growing state in 2022.

Though Q4 2022 and Q1 2023 show a dip in sale prices for most areas in NE Florida, monthly trends for 2023 indicate an uptick in pricing.

The economy, mortgage rates and headlines all contributed to the dips we’ve seen, but with inventory as low as it is and…

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by Aaron Bacus

When applying for a home loan, it’s important to understand the difference between pre-qualifications and pre-approvals. While both are important steps in the loan process, they provide very different levels of assurance that you’ll be able to secure the loan.

aerial ponte vedra beach to guana preserve

Before you start the home buying process, it’s a good idea to get pre-qualified, because it gives you an idea of how much you can afford and can help you narrow down your home search. Pre-qualification is the first step in applying for a mortgage loan. It involves having a lender review your financial information, such as your income, debts, and savings. Your lender may also want to look at other financial documents like your tax returns. This helps them understand…

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by Jenn Heller

Thinking about listing your home for sale this spring or summer? These warmer months tend to be buzzing with activity from eager home buyers. Many are on the hunt to establish roots and settle in before the new school year kicks off. Let's ensure your home stands out from the rest during this busy selling season with these 5 invaluable tips to get market-ready.

1. Get Organized

Buyers want to see themselves living in your home, but it's hard to envision if your space feels cluttered and cramped. Before listing your home, take a stroll through each room to create an airy atmosphere by decluttering and organizing. Consider stowing away excess items, especially in homes with children, where toys can easily take over. Removing family…

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Is the Market Crashing? 

No. The balance between supply and demand is what affects prices, and in the greater Jacksonville market, we are at 3 months of supply which still indicates a seller’s market (6 months is a balanced market). We expect inventory to rise some in the Spring, but supply will still remain relatively low. We don’t expect homes to appreciate at the pace it has for the last two years. For 2022, the greater Jacksonville real estate market median sale price saw an 18% increase over 2021, and 2021 was up 18% from 2020. Historical average appreciation nationally is 4%, while our area enjoys a slightly higher historical average of 6%. Keep in mind, Florida is still a tax friendly destination state so we should continue to reap the…

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