Lucien Vaillancourt Jacksonville Florida Real Estate

More good news! Three Florida cities (including Jacksonville) made in onto the American Improving Markets Index (IMI). The index measures three sets of independent monthly data to get a mark on the top improving Metropolitan Statistical Areas. The three indicators that are analyzed are employment growth from the Bureau of Labor Statistics, house price appreciation from Freddie Mac, and single-family housing permit growth from the U.S. Census Bureau.

If not for overly restrictive lending policies and the inventory of distressed properties conditions would most likely have improved even more. As market conditions improve so will home prices. I'll say it again. If you are waiting for the bottom, it has arrived. With record low interest rates and an abundance (for the moment) of homes to choose from conditions have never been better for investing in Jacksonville Florida Real Estate. Now is the time to make your move. To search all available Jacksonville Homes For Sale visit http://www.nativesunrealty.com .

Once again Jacksonville has shown that the Christmas spirit is alive and well. Every year on Black Friday the Jacksonville Landing puts on a great Tree Lighting event that includes live performances by local artists and a fantastic fireworks display.

A beautifully lighted fountain across the river in Friendship Park also contributes to the spirit of the season with Christmas songs playing over speakers for all to enjoy.

While there may not be snow on the ground it still looks a lot like Christmas in Jacksonville.

Merry Christmas!

Hurricane Irene gave the media a big story to cover for about a week. Soon the coverage of the devastation will give way to the next “Breaking News” alert and those people not directly affected by the storm will forget it.

Not so for those that suffered damage to their homes. Irene came ashore as a category 1 storm packing winds of 100 MPH or less so wind related damage could have been much worse. In fact, the real damage delivered by Irene came from the storm surge and flooded areas located outside of designated FEMA hazard flood zones. Homes in these areas are not required to have flood insurance so most property owners did not have coverage believing that their hurricane policy would protect them. Not true. The only insurance that provides coverage for flood damage is flood insurance.

Most communities prone to hurricanes will have maps showing Storm Surge Zones and Evacuation Routes for each storm category. Even though FEMA flood maps may not require you to carry flood insurance it may still be wise to get it if you live in a storm surge zone.

Here is a link to the Storm Surge Zones and Evacuation Routes for Jacksonville Florida. As shown on the map the storm surge can impact properties far from the coast where residents may feel safe from the coastal effects of hurricanes.

I am frequently asked by home buyers if a home needs flood insurance. I make a clear distinction between what is required and what is needed. If your home is located in an area where storm surge flooding can be expected when hurricanes strike I say it’s best to be protected. Considering that the average flood insurance policy in 2010 cost about $600 a year and the average claim over the last five years wasabout $34,000. Maybe you do need flood insurance.

According to National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI), housing affordability is near it’s highest level in 20 years. This is great news for people in the market for their first home or someone looking to own a vacation home or investment property.

The Housing Affordability Index has a value of 100 when the median-income family has sufficient income to purchase a median-priced existing home. A higher index number indicates that more households can afford to purchase a home. The HAI is calculated using the following formula:

HAI = ( Median Family Income / Qualifying Income ) * 100

Applying this formula to July statistics In Jacksonville:

145.45 = ($44,173 / $30,368) * 100

We see that the typical Jacksonville household had 145.45 percent of the income necessary to purchase the typical home. Homebuyers are regaining confidence in the market and finally making the decision to purchase homes. This may be why some housing markets across the country, including Jacksonville, have stabilized and are beginning to show signs of a budding recovery.

When most people think of Florida I would say that Jacksonville is not the first city that comes to mind.  After all, Mickey does not live here and the Gator's only come once a year.  This does not mean that Jacksonville has nothing to offer.  In fact, nothing could be further from the truth.  Jacksonville has many business and recreational opportunities not found in other parts of Florida.  The Jacksonville Port Authority (AKA JAXPORT) is the Florida port of choice for global trade and intermodal transportation.  CSX coporation, and international shipping company, with over 30,000 employees has its headquarters in Jacksonville.   Hanjin Shipping has also recognized the strategic position of Jacksonville and has a $300 million cargo terminal scheduled to open by 2016.  Tourism is on the rise in Jacksonville with Carnival Cruise Lines embarking from Jacksonville to the Bahamas, Key West and other exotic ports of call.  In addition to the shipping industry Jacksonville is one of the insurance and banking capitals of the south with the 617 ft tall Bank Of America tower, the tallest building in Jacksonville, and and Blue Cross & Blue Shield with 6,000 employees. 

The are also several highly rated colleges and universities that have turned out notable alumni like Todd Haley, UNF grad 1991, head coach of the Kansas City Chiefs and David M. Walker, JU grad 1973, who served as United States Comptroller General from 1998 to 2008. 

Jacksonville, also known as The River City, is a boaters heaven with hundreds of miles of inland waterways and easy access to the Atlantic Ocean. 

This ia also a great time to be a home buyer in Jacksonville.  Interest rates are at record lows, prices are way down form their highs in 2006, and there are lots of great homes to choose from.  If you are looking for a home feel free to use my MLS search feature where you will have access to all available homes for sale in Jacksonville and North East Florida.

If you have not been to Jacksonville you may enjoy this video tour that covers some of the highlights and attractions Jacksonville has to offer it's residents and vistors alike.  You may decide that Jacksonville is your place in the sun.