Florida Real Estate News

 If you weren’t aware, the federal government has been offering a first time home buyer credit of $8,000  when you buy your first place.  Unfortunately, if you aren’t already actively involved in looking and making offers, the time to get that credit is soon to run out.  “Act Now” as they say on TV.

More good news may be on the horizon though.  We’re hearing word and seeing more evidence that some legislators are considering extending the $8,000 first time home buyer credit and adding a provision for existing homeowners to get a $6,500 credit for moving up.  Though it’s clear that many others are now buying in Florida and elsewhere, an extension and the new provision would be a welcome helping hand to the upticking economy. Whether you are a first time home buyer or an existing homeowner, it would be hard to argue that the we aren’t already seeing rock bottom prices for real estate in Florida so take advantage of the tax credit, low mortgage rates and the great deals now because buying and investing in real estate in Florida doesn’t get much better than what we’re seeing right now.

Here’s a quote supporting the possibility:

“We would help first-time home buyers, and we would also help homeowners looking to move up to a new home, but we would exclude from the credit speculators who may have recently purchased a home intending to flip it for a fast profit,” said Senator Max Baucus…”

Read more about it here.

UPDATE:  The proposal passed in the Senate and the House may be voting on it today (Thursday).

 According to a new report from the Florida Association of Realtors (FAR), September sales of existing condos in Florida increased a whopping 77% over last year’s numbers.

Confidence in buying is back in a big way and not just for first time home buyers getting the $8,000  tax credit either. 

” (Anita) Williams, broker-owner of The Realty Firm Inc. in Destin, observed that buyers were a mix of traditional first-timers and move-ups, as well as seasoned investors and cash purchasers looking to invest in a rental or vacation home.

“There’s a lot more people coming in from out of state to buy condos here,” she noted. “Once they visit, they want to come back. And they want to buy a place of their own to come back to.” ”

There are a number of luxury and near luxury condos available throughout the state at bank minimum prices and buyers have already started to take advantage.  The clock is ticking on the tax credit and certainly many are rushing to get in but others, particularly those who have watched the market for some time, are buying now because they recognize the market will soon only be going up.

 Read this article for more.

“Starwood Sees Payoff in Patience” – Wall Street Journal 10/7/09

A Starwood Capital Group led consortium is buying the Florida condo assets of the broken up Corus Bank.  In this depressed market Starwood sees opportunity for  real investment return in Florida condos in the near future.

Starwood’s Barry Sternlicht makes their motivation clear:

“In years three, four and five, there won’t be any more new condos being built in these markets and you’ll be one of the few guys with new inventory.”

This is what recovery looks like.  A bubble bursts, consumer confidence understandably goes down, distressed properties accumulate and then, after a bit of time, people remember that unusually low prices, bank approved unusually low prices, are a good investment.  We’re now seeing some of the lowest prices in the Florida condo market than we’ve seen in almost a decade.  It’s especially good for first time home buyers considering the federal incentives now being offered for first time homebuyers in Florida.  Not to mention that that three, four year timeline also works particularly well for students in Jacksonville because of the variety of well built, affordable condos. Parents can invest in both their child’s future through tuition AND in a money maker by investing in Florida property their child can live in as student housing while it accumulates profit and provides real tax benefits.  In Jacksonville’s Riverside Historic District, The Chelsea Lofts has seen a spike in sales as prices were reduced to bank minimums and buyers “waiting for the bottom” found the award winning project attractive.

Read the whole article HERE

VA loans are great for military buyers. They allow for no money down loans up to the VA limit without PMI (Private Mortgage Insurance). The actual loan is originated through a traditional bank with the VA guaranteeing a portion of the loan. The VA loan guidelines also spell out what fees and closing costs can be charged.

In order for a condominium to qualify, the entire project must be approved through the VA process, which can be time consuming. The benefits to both the veteran and the developer can be large. The Chelsea Lofts in the Riverside historic district of Jacksonville Florida recently obtained VA project approval and have already received contracts from NAS Jax (Naval Air Station Jacksonville), making the process worthwhile. The project’s proximity to NAS Jax and contemporary loft interiors have been popular with the base squadrons.

You can view a list of approved VA condominium developments here: VA CONDO APPROVALS

When you’re looking at investing in or buying that holiday retreat as an investment or a place to spend your retirement, the number one place that you’ll want to look is still Florida. The properties that you can find here are as luxurious as they’ve always been, but the big difference is that in today’s economy prices have fallen to the point where the best in these Florida waterfront communities can be bought for a quarter of what was once the going price.

And there are the kinds of choices here that you won’t find anywhere else. Florida real estate is like no other and that means there are richly appointed and luxurious finds waiting for you from Jacksonville to Ponce Inlet. Of course, you’ll need to be assured that the developer that you find is the one that has done the best possible job with all of these properties and that means you need to have a good look at the professionals at Cranewoods Developments.

These are the folks that are responsible for everything from the well appointed condos in Jacksonville that are a stone’s throw to all the excitement of the downtown core to the majesty of lots that are drastically reduced in St Augustine.

Getting Florida real estate has just gotten easier and that means that now is the time where you can get the best deals for the best prices. With Cranewoods Developments, you can rest assured that you’ll be getting the best Florida waterfront communities at the best prices.

When you make the decision to start looking for real estate in the Jacksonville area, there are going to be key things that you’re looking for. Maybe you’re interested in buying a Jacksonville condo with an open floor plan; maybe your idea of a great condo in the area is one that puts you near the ocean, a place to call home in Jacksonville Beach. Either way, one of the things that you’re going to want to take a look at is the fact that there are great spots available.

By looking into Jacksonville area condos, you’re going to want to focus on what interests you. There are great condos that will give you access to great restaurants, to parks, to museums, to the theater or to great shopping venues. Want to be sure that you are able to live in an area where you’ll be able to walk from one place to the next rather than having to take the car? It won’t be a problem – neither will it be tough to get out to pick up takeout for a quick dinner (though, depending on the home that you choose to call your own, you may want to focus on cooking at home more if your kitchen has everything you need).

The more that you start looking into Jacksonville condos, the more that you’re going to find yourself looking into a wide variety of homes. Take the time to identify what you’re looking for in a condo and then think about what you want to be near; the ideal Jacksonville condo is out there waiting for you.

When your primary home is a Florida condo, one of the great things that you’ll find is that it’s really easy to get your home ready for the summer. Ultimately, there’s no exterior landscaping that you’ll need to take care of (when you own a Florida condo in many communities – including waterfront communities – you won’t even need to own a lawnmower), and you won’t have to worry about whether or not the exterior needs a fresh coat of paint; those things will be taken care of for you.

In other words, when it comes to getting your Florida condo ready for the summer, the only thing that you’ll really need to focus on is making sure that the inside has the look and feel that you’re going for.

Summer is a great time to think about giving your home some more colorful accents – even with tropical flowers or plants, not just with accent pillows or rugs. Summer is going to give you a chance to add a bit of flair to your home that you might not want to have year round.

Whatever you want to do to add some color and a sense of summer to your Florida condo, the best thing is that you’ll only need to worry about the decor within your living space. Because of this, once you’ve taken the time to get your home ready for the new season to simply kick back and enjoy it – and you’ll even be able to get your decorating done without breaking a sweat.

When you’re looking at the news about travel; specifically about the number of people who are reluctant to travel far from home because of the flu as well as cost reasons. One of the best things that you’re going to be able to do, therefore, if you’re looking for the chance to get away, is to take a look into having a home away from home. In Florida, a waterfront condo is a great solution.

In other words, if you want to be sure that you’re able to take the time to get away from your routine, looking into a Florida waterfront condo is something that will give you the opportunity to do just that. When you have a condo near the beach, you’ll be able to:

• Get out and enjoy the water
• Spend some time fishing
• Go on a boat trip – even if you charter the trip
• Get a bit to eat
• Play tourist without having to pay for a hotel room

Of course, there’s a lot more to buying a Florida condo than just looking into a vacation home. Even with homes in waterfront properties, you’re going to have the chance to find a great every day home.

With Florida waterfront properties, you’re going to find yourself in a great position to unwind – regardless of what interests you in the area. Whether you are looking into having a home that puts you near the arts, that will give you the chance to unwind while feeling the sand between your toes or you’re looking for a place to go where you can get away.

Planning to open a restaurant? Looking into all of the information out there about new trends in restaurant furniture?

The more that you find yourself looking into restaurant furniture and the trends that are going on, the more that you may have questions. You’ll find that there are a number of restaurant owners, for example, who have decided that eclectic isn’t just a term that they want to describe their menu; they’re using it to set a trend and to set themselves apart from everyone else in the area.

The challenge is, of course, that not every restaurant furniture trend should be followed. In some cases, trends like mis-matching furniture and having no two pieces alike works – if, on the other hand, you are thinking about creating a restaurant where high end dining is the norm, this isn’t the type of look that you’ll want to go for.

In other words, when you are looking into trends in restaurant furniture and what you should do to adopt those trends, you’re going to want to look more at your goals. No matter how trendy a given option may seem to be, choosing to follow it isn’t going to be right in every situation. It’s up to you to make sure that you’re looking at those options that are going to work in the space that you have and to create a restaurant that you’ll be proud of and that your customers will love – it’s up to you to know when not to embrace new trends in restaurant furniture.

If you’ve been thinking about buying a home in Florida, you may want to take a closer look at buying a home in one of the area’s waterfront communities. After all, because prices are low right now, you’ll find that you’re able to purchase a waterfront home for about the same price as you would have been able to buy an inland home not all that long ago.

Think of all that you could do if you had a home of your own in a Florida waterfront community.

• You’d be able to watch the sun rise over the water, quite possibly without having to get out of bed.
• You’d be able to fit your morning workout in on the beach – whether you chose to run, to swim or even to surf.
• You’d have the chance to know that when your friends come over, you’ll have a home that “wows” them.
• You’ll be able to focus on finding a home that matches your interests and design sensibilities.

When you look into Florida real estate, choosing one of Florida’s waterfront communities seems like a no brainer: you’ll be able to get a home that you love, the feature’s that you’re looking for, a great location and a price that fits your budget.

By taking the time to look at all of your options when you’re looking into Florida real estate, you’ll find that you’ve had the chance to find a variety of different areas that you could call home. Most importantly, you’re going to find a spot that’s ideal for you.