Found 71 blog entries tagged as real estate.

by Aaron Bacus, First Coast Mortgage Funding

Are you dreaming of purchasing a home in Northeast Florida but worried you don’t have enough for a down payment? It’s true, this is one of the most crucial aspects of the home-buying process but that doesn’t mean that home ownership is out of reach. As a seasoned mortgage loan officer, I've guided countless individuals through this journey. Today, I'm here to demystify down payments and offer practical strategies to help you save for your future home.

Understanding Down Payment Basics

First things first, what exactly is a down payment? Simply put, it's the initial, upfront portion of the total cost of your home that you pay out of pocket. This amount varies depending on various factors, including…

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by Gwinn Volen

LOCAL STATS

Q3 stats indicate the Jacksonville real estate market is relatively flat. Sales prices were up 1.5% from Q2 and flat (0.0%) from Q3 2022. Closed sales are down -13.7% from Q2 and -9% from Q3 2022. Days on the Market is up 6.7% from Q2 and 14.3% from Q3 2022 as buyers stand on the sidelines watching mortgage rates and the economy.

If we look at the beach market only (Atlantic Beach, Neptune Beach, Jax Beach, and Ponte Vedra Beach) sales prices are down -2.6% from Q2 and -1.3% from Q3 2022 with closed sales down -16.7% from Q2 but up 12.4% from Q3 2022.

Nocatee sales prices are up 2.8% from Q2 and 3.2% from Q3 2022 with closed sales down -3.7% from Q2 and -9.9% from Q3 2022. If I were to speculate I would say those…

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Retirement opens up a world of possibilities, especially when it comes to where you want to live. No more being tied down by work – you’re free to choose a place that truly suits your lifestyle. It could be a warmer climate, a coastal paradise, or somewhere more affordable. Of course, the basics like cost of living, taxes, safety, and weather are essential factors in picking your ideal retirement spot, and yet there are some less obvious but equally important things to consider. With all these criteria, the decision can quickly become overwhelming. Here are five key things that Ponte Vedra Beach offers that make it the ideal spot to retire.

Ocean Course at Ponte Vedra Inn & Club

Golf and Club Options

For golf and club options there are plenty…

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by Aaron Bacus, First Coast Mortgage Funding

Ponte Vedra Beach, with its beautiful beaches and upscale neighborhoods, presents a compelling draw to real estate investment. Whether you're envisioning a sunlit second home for family vacations or a rental property to tap into our thriving tourist market, understanding the financing nuances is paramount. As a local mortgage broker, I'm here to guide you through the intricacies of financing your investment property.

Differentiating Between Second Homes and Investment Properties

First and foremost, lenders view second homes and investment properties differently. A second home is a property you intend to occupy for a portion of the year, while an investment property is primarily for generating rental…

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by Jenn Heller

Selling a home can be a complex and often stressful process, especially when it comes to making necessary repairs to close the deal. However, in certain situations, the option of selling a property "as-is" can be an appealing alternative. When you sell a home as-is, you're essentially telling potential buyers that they will receive the property in its current condition, and negotiations won't involve major repairs or renovations. In this article, we'll explore what it means to sell a home as-is, how it works, and the key considerations for both sellers and buyers.

What Does Selling a Home "As-Is" Mean?

Selling a home as-is essentially means that the property is being offered in its current state, and the seller is not willing to…

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By Aaron Bacus

Are you thinking about buying a home? The prospect of being a homeowner is so exciting! However, before you dive headfirst into the whirlwind process, there's a step to consider: your credit score. Your credit score plays a pivotal role in determining the mortgage rate you'll qualify for, and understanding this relationship is vital for securing the best possible deal on your home loan.

Let's break down the ins and outs of how your credit score affects your mortgage rate and discuss ways to improve your creditworthiness.

credit score for mortgage

The Credit Score-Mortgage Rate Connection

Your credit score is a three-digit number that reflects your creditworthiness, providing lenders with a snapshot of your ability to manage debt responsibly. Mortgage…

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by Jenn Heller

Are you thinking about the idea of "aging in place?" Well, it's a pretty important decision, and the first thing you need to do is check if your current home can be adjusted to fit your needs as you get older. Let's break it down for you.

As we all get older, we face this choice: do we stay in our own homes or move to a senior living community? Nowadays, more and more families are choosing to stick with their homes, and they call it "aging in place."

Aging in place can mean different things to different people. We will summarize by saying that The National Institute on Aging says essentially it involves residing safely, independently, and comfortably in your own home and community, regardless of your age, income, or abilities. …

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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

Elder fraud is no small concern, with the FBI reporting a staggering $900M+ loss for Americans aged 60 and above in 2020 due to scams. And this is not just limited to the U.S.; it's a global concern as cybercriminals increasingly exploit online scams to target older adults, particularly those living independently. The financial implications of falling victim to scams are evident. Losses can deplete retirement savings, disrupt plans for inheritance, or compromise daily expenses such as bill payments and groceries.


Identifying Elder Fraud Schemes

Fraudsters employ an array of methods to exploit individuals, but understanding common types of financial scams targeting older adults is key to…

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