Mayport, FL

As I've recently posted (I think) the Jacksonville Port Authority has recently decided to cease funding the Mayport Ferry, which provides ferry service between the historic fishing village of Mayport, and connects one side of scenic A1A to the other via the ferry service.

It may not be much shorter than driving from a time perspective (the ferry runs every 30 minutes from one side to the next), it certainly is more fun than the extra drive, and is scenic to say the least. It's my favorite way to get to Amelia Island and Fernandina Beach.

The funding is to end this coming September, and there are various efforts to find alternate funding/operational sources, and here is a meeting that could yield some solid information.

If you live locally, you can also "like" Save the Mayport Ferry's Facebook page here.

We here at the beaches love our ferry, as it can save us time and money to get to Amelia Island, and Fernandina Beach. The slowest month for ferry ridership is December, so the local Port Authority decided that was a good time for maintenance and improvements.

It's also fun to ride the ferry vs. driving up 9A because of the great water views you get - sometimes, there is nothing like it.

You can read more here: http://jacksonville.com/community/arlington/2011-01-07/story/mayport-ferry-back-operation-after-month-closure

Here are the January - June 2010 stats and 2009 for comparison -

2010

• 64 Homes Sold
• Lowest price: $25,000
• Highest price: $1,000,000
• Lowest Per Square Foot Sold:$25.51
• Highest Per Square Foot Sold: $298.18

2009

• 43 homes sold
• Lowest price: $48,000
• Highest price: $615,000
• Lowest Per Square Foot Sold:$40.32
• Highest Per Square Foot Sold: $226.77

I know most buyers want to hear more information about distressed sales (REO's/Bank Owned properties) and most sellers would prefer to ignore them - as they make up about 50% of our local Multiple Listing Service inventory, however, they are impossible to ignore, as they do have an impact on pricing, and value perception of the market.

Foreclosure sales are up about 50% year to year, which is good, as the sooner we get the distressed inventory (and overall inventory) to "normal" levels, we will begin to see prices stabilizing.

Pricing showed a decline of about 36% on the low side; this could be a combination of factors, including the amount of inventory available a the lower price levels, (increased competition) and possible condition of properties. I have personally seen some very rough foreclosures.

Prices increased on the high side as well, another positive sign, approximately 30%. It's also important to keep in mind foreclosures happen everywhere, from exclusive, gated subdivisions to oceanfront, and everywhere in between.

If you are interested in purchasing a foreclosure, there are certain items you need to be aware of, including: how long has it been since the utilities were last on? This could affect your inspection process, as you will have to pay to turn on the utilities prior to purchase, so you know what you are buying. If the electricity has been red-tagged by the utility service, you will need to have an electrical inspection conducted to ensure the system is functioning correctly as well.

If you are ready to list your home, call me for a comparable market analysis to see what price range you should list in, and to learn more about what sets myself and Prudential Network Realty apart from the competition.

If you or someone you know is considering a short sale, please have them contact me for a no-obligation confidential interview about their current situation and how best for them to move forward. I hold the Certified Distressed Property Expert, and am one of a mere 18,000 who do so - I can help salvage their credit, and their future.

Carol Zingone is a Broker Associate with Prudential Network Realty. Recently honored as the Realtor of the Year for Northeast Florida - an award based on community service, professional qualifications and other attributes, Carol helps buyers and sellers throughout the Beaches, Intracoastal West and Greater Jacksonville, FL areas. She can be reached at 904/993-9048 or via email at carolzingone@clearwire.net.

The Jacksonville HOMEBUYER reports that the Jacksonville area ranks No. 14 on a new list by Forbes of America's 40 "recession-proof" retirement cities. Forbes said it considered such factors as average income for seniors, current and expected home prices, job-growth predictions through 2014, the also ranked 13th for number of sunny days, eighth for income of residents 65 and older, 14th for median home price, 32nd for home price change predicted for 2009-2014, 13th for cost of living and 15th for median housing cost.

Contact me if you are looking for a home in the Jacksonville area, any where from Amelia Island southward to Daytona Beach (which includes the greater Jacksonville area).

Richard

www.ameliaislandresidences.com

If you are like anyone today, you believe there are fabulous deals in real estate, and all you have to do is FIND them.

Yes, Virginia, there are deals in real estate, especially if you have cash, and a terrific credit score.

Let's look at the online auction in Jacksonville, since so many buyers believe auctions are where the REAL deals are.

For the date of 6/9/09, there were a total of 40 auctions schedule on the online auction site:

www.duval.realforeclose.com.

Of these, 21 were canceled PRIOR to the auction, either by court order, the attorney, or the plaintiff. So, over 50% of the available auction properties were canceled. That's a fairly high percentage, and as you can imagine, if you had your eyes on one particular home that was canceled, you'd be frustrated.

When will that home be re-scheduled for auction, you ask? Good question - the plaintiff (owner) can petition the court for cancellations and continue to postpone the sale; not forever, but I have heard of some cases that have languished on for a very long time.

Many times, however, if there are bidders interested in a property for a "steal", it's good to keep in mind the bank has bidders themselves, to protect their interests. They may have lent $1,500,000 on the house, and they will not sell it for $500,000 - without at least trying to do so themselves. So remember, you are bidding against the bank.

If you are interested in purchasing a foreclosure, investment property, or first home, please contact me to help you navigate the process. I will help you find the homes that fit your needs, budget and financing.

Carol Zingone is a Broker Associate with living and working in Jacksonville Beach, FL with Prudential Network Realty. She helps buyers and sellers throughout the Beaches, Intracoastal West and Greater Jacksonville, FL areas. She can be reached at 904/993-9048 or via email at carolzingone@clearwire.net