Ponte Vedra Focus Blog - real estate

The House I Love is Under Contact. What Does That Mean?

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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How Much Mortgage Can I Afford?

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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Navigating the Mortgage Maze: A Guide for Homebuyers

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.

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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Saving Money on Mortgages: 9 Strategies for Homeowners

by Aaron Bacus, First Coast Mortgage Funding

Purchasing a home is a significant accomplishment! Mortgage payments can be a huge chunk of your monthly expenses, so it’s important to do all you can save money on your mortgage.  There are many strategies you can use to reduce your payments or pay off your mortgage faster with minimal effort.  Let’s explore three effective strategies to successfully reduce your mortgage payment:  refinancing, making extra payments, or negotiating with lenders. Let’s delve into the options and pro and cons of each approach to help you make an informed decision and potentially save you thousands of dollars. 

Refinancing Your Mortgage

Refinancing your mortgage involves replacing your current mortgage with a new one,…

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Enhance Your Home's Curb Appeal: Quick Upgrades for Every Timeline

by Jenn Heller

As a homeowner, you understand the significance of making a lasting first impression. Boosting your property's curb appeal not only adds value but also creates an inviting atmosphere for guests and potential buyers alike. If you're looking to transform your home's exterior, we've compiled 5 quick and easy touches you can add in just a few short hours. Have more time on your hands? Great! We've dug a little deeper too with some upgrades to make a much more noticeable difference. From sprucing up your garden to replacing your mailbox, these upgrades are sure to make a noticeable difference.

5 Easy Ways to Add Curb Appeal to Your Home

If you're pressed for time but still crave a noticeable change, these 5 quick projects will do…

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Ponte Vedra Beach Oceanfront Sale Breaks Record

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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Q1 Real Estate Sales: Real Estate Market Restrained and Yet Prices Are Inching Up

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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What's the Difference Between Pre-Qualified vs Pre-Approved

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.

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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5 Tips to Get Your Home Market Ready

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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Mortgage Gift Funds: What You Need To Know

by Aaron Bacus

Gift funds have been a hot topic recently for those looking to buy a home. So what exactly is a gift fund and can a buyer accept funds from anyone? Let’s dive into the nitty gritty! Gift funds are funds given to someone buying a home by an acceptable donor to be used as a down payment, towards closing costs, or other fees.  They can only be used on a primary residence or second home and are not allowed to be used for an investment property. 

An acceptable donor can be a relative such as a spouse, child, dependent or other relative that is related by blood, marriage or adoption.  A non-relative can be considered as an acceptable donor if they share a “familial relationship” with the borrower such as a domestic partner, fiancé,…

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