Christa LaFarlette (la-far-let)

We can all agree that it is a buyer's market here in Jacksonville FL. However, with that we can also agree that the days of rock bottom $.50 on the dollar offers are gone--unless they are a short sale and the bank may negotiate that price. So what is a buyer, who wants to land 'that' home to do?

Offer smart.

First and foremost pre-approve for a mortgage. You will then be able to confirm to the seller that you actually will be able to purchase this home, and afford it. You are serious. You are in the game. Aside from that, most if not all sellers are requesting it. So before you search, pre-approve with a well known lender.

Open your email and look at all those listing links that you receive daily! I know you think I send them, but no, they are automatic. Look at them--I may not have time today, and if you like one or two CALL or email me. We can go see it asap if it's a hot opportunity. Stay in close contact and use your technology 'tools'.

Ready, set, go. Please be ready to pull the trigger when you find that house. Know what you do want, what is a show-breaker, and what is okay--sort of. You know, figure out what you want so we don't waste our collective time looking at things that you are not going to be interested in. Pool-great, right it down. 2-car garage, okay-write it down. And as you are writing it down I am as well--so, bottom line. Ready, set, go!

Highest and best. We have heard this over and over. 'I want the steal'. Yes, I understand. However, if it is a property you really want then the offer needs to not offend the seller. Always go in with your highest and best! If your highest and best is $50k lower than the listings price, then so be it. Be aware that you may offend the seller, and in the case of a short sale the lender may counter back. Be ready to negotiate with both scenarios. Or be ready to walk away--I too will be ready to walk away:) In a tight market it is buyer beware--really.

The offer. With your offer you do want to go easy on the contingencies without giving everything up. Yes, keep the inspections in--they are important. Yes, keep the timelines in--important. Let's not be silly, and let's remember to protect you and your money. After all buying a home is one of the largest purchases you will make in your lifetime. Remember, although time is a concern, the greater concern is double checking and then triple checking your gut to make sure your decision is a good one!

Moving in. Take it from one who has made this mistake--take off the wallpaper first. If you are going to make big changes try to get them accomplished prior to your move. Trust me--pink carpet and the wallpaper is just now coming down (thank you honey!)--5 years later.

Have a great night, and if you are interested in anything in Jacksonville FL please call or email me! Hiring a buyer's agent is generally FREE for the buyer.

Good night, and God bless----

Question. How does your credit score effect your choice to buy a Jacksonville FL property? Read on! Here is a handy list.

First and foremost it is important to note that credit scores range from 200-800. The higher the better. When we bought our house I had a zero score (years of cash only) and had to quickly establish a line or credit. Lenders like to see a score of 620 and higher--but don't give up if you are lower, just shop lenders, and do not pull your credit too often. Onward!

• Variety. The goal is to have credit lines that are not identical. Example: a credit card, a car payment, furniture loan, etc. That is the overall goal, but please keep in mind that it is important to not open anything new until you consult your lender.
• Time. The longer the better in this case. You want a nice lengthy time line of great or good payment history. Generally speaking between 2-14 years is average, with the variables on both sides. Consistency and time. Good stuff.
• New Credit. Speaking of time. Nothing new--follow the basics of the home buyer commandments: do not open, do not close, do not switch, do not buy large items. I am sure we all get the picture! Nice, stable, easy to read.
• How Much. A friend of mine recently had her credit card limit reduced to the amount she owes. Not an issue, right? Wrong. That card now reflects a 100% debt ratio. Better to keep the higher limit, and the same balance (which she will keep paying on time:)) and show that there is 'room' on that card, and that it has a better debt ratio. At least that's what her lender told her. BTW--she called the company and they raised it again based on the original qualifying agreement.
• Payment History. The big one. Pay on time, or make arrangements if you cannot. Bottom line. Your payment history matters. Enough .said.

Regardless of the tax incentive, the number of homes on market, the great pricing--if your credit score is off and you are wanting lending then start to clean up the credit score. A good lender can assist with the clean up. And after it is cleaned up, let's start to search for homes in Jacksonville FL.

On a side note. I've changed my personal website recently and would really like some feedback! Click here and it will take you to the home page---and thank you!

There are some great reasons to own a home! First and foremost, if you have a family similar to mine, the best reason is a place to eat, sleep, and neglect homework! But seriously, there are some great reasons to own a home in Jacksonville Florida, and here are just a few:

• Community. Become a part of something bigger than yourself. Arlington is a perfect example. This older city is in the process of revitalization and many of the residents there are digging in and changing the environment for the better. Community--key to the purchase, and something to choose carefully.
• Tax breaks. I know! Who knew:) The interest you pay on a mortgage, the taxes, and some of the costs involved are deductible. Which is amazing! Then, if you do improvements that are in line with Federal Tax deductions you can deduct those as well. Good stuff.
• Equity. Money spent on rent is money, as my dad used to say, flushed. However, despite the current economic condition it is possible to have equity in a home. Example: you decide to buy that cute little fixer-up foreclosure. And as you add some paint, you (and your friend the Realtor) are amazed to find out that it has greater value--equity. Typically speaking the house should gain equity along a nice slow sloping upward trend over great lengths of time. Not quick spikes. Think long term, not short!
• Stability. We are a retired military family. My eldest son has moved (we think) approximately 9 times in his 19 years. Twice in Kindergarten, once in 3rd grade, once in 5th (I think), and multiple times before turning 5. Remaining in one home gives a family, a person, a group, stability. You know your neighbors, have a favorite dry-cleaner, develop lasting friendships. Good stuff!
• Fixed expenses. Rent goes up. Taxes can go up (you vote on these, perhaps). Insurance can go up, and you have the choice to change companies. Your payment however, now that is an unchanging item. You should always have a set interest rate, and that monthly payment will not decrease or increase--the mortgage part. Fixed housing expense--good stuff!
• Savings. Take it from one who knows--your investment in real estate is a savings plan in disguise. Who knew? The most brilliant minds in business invest in real estate. Some in big ways, and others in little way, but all do--or are working to do so.
• Freedom! Yes, paint that wall blue, or purple, or green. Please, choose shag carpet, or berber, or hardwood. Sure, hang that picture Aunt Somebody painted for you....after all, it's yours! All yours. Live your life how you choose, from the interior of your own home! Freedom, and it is good.

As you begin to search for your dream home remember the following: narrow down the musts, wants, and do not wants. Then remember to view the neighborhood. I prefer viewing neighborhoods on Sunday afternoons, Friday nights, and after school is out. And please, please, please keep in mind that your Realtor is educated in the art of listening and assisting you in finding your first or next home!

Good night, and God bless----

So, this is a charting of sales in the greater Jacksonville Floridaarea for 2010 and 2009 (Year over Year). The formating is rough, but the more I mess with it the worse it gets! So, do the best you can to interpret as you may.

This reflects: single family residential, resale, February 2009 and February 2010 and their percentage of change.

It is my hope that all the number junkies (like me) will enjoy and educate on our current Jacksonville Florida market. After all, how can a buyer search for a home effectively if you do not know what is going on.

Good night, and God bless!

In Jacksonville FL these are the mistakes I am finding most common. This reflects Jacksonville FL and the greater surrounding area(s).

• Someone else buys the house. We search, we view, you ponder. I understand the need to ponder. I completely understand that you may not want to make a quick decision, but in this market you really need to, or you may miss your home. I have seen this happen all to many times. And we are both discouraged. Moral: if you see a house you like, offer. I'll be ready, you should be as well.
• Your agent matters. Ask questions. How savvy at negotiating is your agent? Is your agent willing to work around your schedule? Will they be there during the entire process. Will they be there for the inspections. What are they expectations they have, and you have, and do they match. Is your agent determined to have high volume or high satisfaction, or both. And if both, do they have a team in play.
• The net number. The offer needs to be appealing to the seller and the net number needs to be the best it can be. How does your agent gage what is or is not a good offer. How do they help you get that home. What will they do to make it work. Is your agent about the money, or your experience, or both--which is completely okay as we are professionals and need to make sure our bottom line is met (hopefully exceeded) but not at your expense. Find out--it matters.
• Know your lender. Ask questions. Know what is offered, and what is not. What is your interest rate, and when does your rate lock expire. Do you qualify for any programs or assistance. How often do they miss closing dates, and why. Set expectations up front so you will not be disappointed. And, make sure they do the FHA 203k program, just in case....
• Think resale. I know. You are just moving in--why think about that? I once bought a home, in Port Orchard Washington. We stayed there exactly 14 months and then sold that house. Profit--yes. And we used the same agent. She knew the house inside and out, and saw some improvements (fence, sod). She sold it the first week, and it was good. But, we had not considered resale. If the average is 5 years with each home, then think ahead!

Homes are getting snapped up right and left in this market here in Jacksonville Florida. It is an unusual market, and the foreclosures increase each day. There is an increasing number of seller owned and they are coming on at reasonable pricing--my thought is so they will make the tax incentive with a move up! Either way there is not a need to look at 20 homes any longer, we can do that online. There is a need to keep moving in the process and to execute the offer as you find a home that works for you!

And that's all I have tonight--so, good night and God bless!