7 Tips for Jacksonville First-Time Home Buyers
A year after the financial collapse of 2008, the housing market is very different than it was before the foreclosure crisis.
Here are seven bits of wisdom from economists and financial planners for anyone contemplating a home purchase today:
Source: The New York Times, Ron Lieber (09/12/2009)
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The Jones Group
Mike & Cindy Jones
Real Estate Consultants
(904) 874-0423
Keller Williams Realty
Jacksonville Real Estate?? Buy now before the opportunity is GONE!!
Experts Say Now is the Time to Buy
Many investment experts advise it's time to buy. With prices falling, it is a once-in-a-generation chance to load up on property, they say.
How much of an investment portfolio should be devoted to real estate? David Swensen, who manages Yale University's endowment, says 20 percent is a smart number.
One possibility is real estate investment trusts (REITs), which, despite the fact that they are slashing dividends to conserve cash, are still paying average yields of 7.3 percent. That's double the yield on Treasurys.
Should a home be part of the equation? Michael Kirby, founder of Green Street Advisors, says no.
"You should own a house to provide shelter," says Kirby. "In a way, it's not an investment, and it's not part of your investment portfolio. It's really just a living expense. By owning a house you are prepaying rent."
Source: Forbes (08/03/2009)
Mike and Cindy Jones
The Jones Group
Real Estate Sales and Marketing
Jacksonville, Orange Park, St Augustine
(904) 874-0423
Jacksonville troubled homeowners assistance
The City of Jacksonville has created an informational foreclosure prevention web site, called Stay Home Jacksonville to sere as a resource to connect homeowners who may face or are facing foreclosure with the appropriate agencies for assistance.
Although it is a city initiative, the site provides information for homeowners in Baker, Clay Nassau and St Johns Counties in addition to Duval County. The goal is to try to reach and provide resource direction to troubled homeowners as early as possible.
Go to www.Coj.net (Housing and Neighborhoods Department) or go directly to Stay Home Jacksonville
Source: NEFAR News
The Jones Group
Mike & Cindy Jones
Real Estate Consultants
Short Sale Facilitators
(904) 874-0422
Bank of America Revises Short Sale Policy
Bank of America, one of the country's largest mortgage lenders, says it is loosening its policies on short sales in response to the U.S. Treasury Department's announcement last week that it would increase incentives for lenders to work out short sale deals.
The government's plan is a boon to banks, says David Sunline, BofA's real estate management executive, because it provides guidance when there are multiple liens, a potentially litigious issue for lenders.
In the past, the bank followed Fannie Mae's policy of giving second lien holders about 10 percent of the second mortgage balance in a short sale. Now when it holds the second lien, BofA will accept 5 percent of the net proceeds of the short sale, Sunline says. When it is the first lien holder, it will offer 5 percent to the holder of the second lien.
Sunline says home owners considering short sales should contact the bank within five days of getting an offer on the home and expect its cooperation as long as the offer is within the range of other sales in the area and the borrower can demonstrate financial hardship.
Source: The New York Times, Bob Tedeschi (05/15/2009)
The Jones Group
Mike & Cindy Jones
Jacksonville Real Estate Specialist
(904) 874-0422
SEARCH OVER 10,000 HOMES FOR SALE IN JACKSONVILLE
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SEARCH OVER 120 HOMES FOR SALE IN FLEMING ISLAND
Tax Credit Can Be Used for Down Payment
Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment.
Previously, most buyers wouldn't receive the funds until after they filed their tax return, and that deterred some people from using the credit. The NATIONAL ASSOCIATION OF REALTORS® has been calling for the change.
"We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment," Donovan says. His remarks came in an address to several thousand REALTORS® gathered Tuesday morning at "The Real Estate Summit: Advancing the U.S. Economy," at the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo in Washington, D.C..
He says FHA's approved lenders will be permitted to "monetize" the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.
Source: NAR
The Jones Group
Mike & Cindy Jones
Realtors, e-Pro's
(904) 874-0422
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For ALL things Real Estate in Jacksonville, Orange Park, Mandarin and the Beaches call The Jones Group
visit our main page at www.MikeAndCindyJones.com
Mike Jones, AKA Jacksonville's Voice of Real Estate and former host of The Real Estate Today Show is a Jacksonville native and would like everyone, especially those from up north to know he has never experienced a full on hurricane. This seems to be a familair topic of discussion when he meets customers from out of state. Another topic folks are concerned with is alligators, kinda like squirrels in these parts.......hurricanes and alligators are synonymous with Florida and he doesn't worry much about hurricanes and advises not feeding the alligators. You'll be fine.
Born and raised in Jacksonville, Mike has enjoyed the Florida sunshine for all of his 40 plus years except for the 6 years he spent in the United States Navy. As any Aviation Ordnanceman, he's proud to be called an AO, Ord'y or Red Shirt. Once an AO...always an AO! He spent his first 4 years of service attached to VA-27, one of the last A-7 squadrons in the tropical paradise of Lemoore California (if you've ever been to Lemoore you'll know this is not the case). He also enjoyed life on the flight deck of the aircraft carrier USS Carl Vinson for 2 western Pacific cruises (West Pac) and anytime you want to sip on a cold one and swap Navy stories....he will gladly oblige.
Cindy Jones, the prettier of The Jones Group is a transplant from Nashville, Tennessee via St Petersburg, Florida and a few other places. She landed in Jacksonville soon after her 6 year hitch in the United States Army. A gun tote'n, scud missile dodg'in veteran of Desert Storm she is surely a force to be reckoned with, although you would never guess it by looking at her. She hates snakes, bugs and lizards...Florida provides plenty of these too! However she loves the warm sunshine and helping good people with their real estate needs.
Together they enjoy keeping fit, riding Mikes Harley Davidson Road King, making friends, spending time at the beach and helping people buy and sell Jacksonville and Orange Park Real estate.
While we spend most of our time in the residential resale market, we have a lot of experience with new construction, vacant land, commercial property and investment properties. We don't limit ourselves to a certain price range in any type of real estate. If a buyer or seller is serious and motivated about achieving their goals, we'll help them no matter the price.
Welcome to your one-stop source for real estate services covering the Jacksonville, Orange Park, and Mandarin areas. Real estate is one of the most exciting investments one can make, and it should be a fun and rewarding experience. Here you'll find everything you'll need to buy or sell a home, as well as learn about the market value of homes you may own in the area. It is our goal to provide you with superior service at all times, so please tell us more about you! Learn About Us.
Many homeowners today find themselves in the position of needing to sell even when the value in their home has dropped below what they owe on the mortgage. In this instance a short sale may be an option if you don't have the funds to cover the deficiency.
Welcome to your Jacksonville Real estate resource. Search the Jacksonville MLS for listings, homes for sale, vacant land and luxury homes in Jacksonville and homes for sale in Orange Park, Florida. You can also search for homes for sale in Atlantic Beach, Jacksonville Beach, Ponte Vedra Beach, Neptune Beach, Nocatee, Orange Park, Ponte Vedra, Southside, Mandarin, Oakleaf Plantation, Green Cove Springs, Middleburg, Fleming Island, Eagle Harbor, Eagle Landing and Arlington areas. We can also help you with Clay County homes and land for sale, St. Johns County homes and land for sale, and Duval County homes and land for sale. Relocating? Relocating to Jacksonville? We can help make the experience much more pleasant.
Whether you are a first time home buyer, moving up, downsizing or seasoned investor, or if you are looking to sell your Jacksonville or Orange Park home, we are here to help. We can help you with new homes, re-sale, residential homes, vacant land, commercial properties, luxury homes, ocean front homes, waterfront homes, golf course homes, farms, acreage. Pre-qualify for your mortgage online. FREE mortgage application.
What are homes selling for in your area?
Looking for Foreclosures in Jacksonville or Orange Park? Send us a list of your requirements such as price range, bedrooms, baths, location etc and we'll send them to you. E mail your requirements to MikeSellJacksonville@live.com
Kim Glover- our first video testimonial
Click here: Hawks Haven
Rick & Deniece Woodson -
Mike was knowledgeable, friendly and professional making the experience enjoyable instead of stressful. Mike knew we were first time home buyers and he was honest, helpful and didn't push us in any way.
Ann Marie Williamson -
Cindy was extremely helpful, polite and courteous. She was always there when we needed her and had answers for everything!
Cate Vreeland -
Cindy Jones is fantastic! I hope all Realtors are as patient, kind, humorous, helpful and efficient as Cindy....she ROCKS!
The Gruenemeiers -
Mike & Cindy are very personable, experienced and wonderful to deal with. They have considerable knowledge and are aware of many different ways to get you into a home.
Rob & Margarita Coyle -
Mike provided 110% customer satisfaction! An excellent Realtor I recommend for Realtor of the year..He's very efficient! Sold our house in the morning...closed on our new one in the afternoon without a hitch.
Diann Samuel -
Cindy was always readily available to answer all my questions. Most of all I felt very comfortable with the way she handled things!
Mr. & Mrs. George Waggoner -
Mike is a true professional who goes above and beyond. All agents should follow Mike Jones' lead!
Mr. & Mrs. Larry Zabel -
Mike is an excellent guy and Cindy is wonderful! They have a lot of patience and are willing to help with everything. If I every need to sell or buy....I'm calling Mike & Cindy!
Dustin & Angie Crawford -
Thankfully we found Mike Jones..he went above and beyond what it took to make us happy. Not only is Mike a good Realtor, he is a wonderful person too...Mike Jones should serve everyone in Jacksonville!
Mr. & Mrs. John Arms -
Mike does his job very well and follows up with every detail. His professionalism and integrity are second to none!
Phillip and Caroland Williford -
Mike was very professional, friendly and always aware of what we were looking for as his clients. We received very good service from Mike Jones and you should have more people like hime working for your company.
Paul Fisher -
Mike and Cindy worked very hard to get our home SOLD! They also promptly answered all my questions and did everything they promised and more.
Abe Sharqawi -
Mike kept his word and returned calls on time. Very important attributes I look for in people.
Mr. & Mrs. Charles Kananszka -
Mike was friendly, followed through and provided our home with excellent exposure. He did everything he said he would and worked hard for us to sell our home!
Rafael & Rosa Delatorre -
Mike Jones is very professional and honest. He was always in contact with us from contract to closing keeping us thoroughly informed. We highly recommend Mike to all our friends!
Scott & Michelle Logan -
Mike is professional, courteous and does exactly what he says he is going to do. When the time comes for us to buy or sell our next home we will surely use him. His company should be very thankful that he is a person with such integrity & enthusiasm!
Peggy Longuil -
Mike and Cindy are bith very efficient. They know their job and do it very well!
Frank & Ruth Hamwey -
Mike sold our home, our cousins home next door and sold them both in record time. In my opinion....there are no other agents in Jacksonville!
Paul & Arlena Grubs -
We are very satisfied with Mike & Cindy. They were always polite and available to answer my calls and questions. We will continue to recommend tehm. They do a great job!
James & Lynn Hughes -
What else can we say......excellent, excellent, excellent!
Joe & Heather Selvaggio -
Mike and Cindy were great to work with! They found us the perfect house in just a couple of days!
Hank & Irene Yacek -
Mike was sincere polite and accomodating with no pressure. i liked that he always returned my calls.
Mr. & Mrs. Richard Phipps -
Mike and Cindy did a wonderful job. Very efficient, courteous and the best Realtors we've ever encountered!
Bill & Rose Lorenzen -
We are extremely satisfied! They got the job done, they were honest, thourough, understood our situation, helpful and responsive. The only suggestion we have to improve the service of your company is to "Clone Mike & Cindy Jones"!!
Francis & Irene Matuszek -
Mike Jones answered al my questions in a pleasant and knowledgeable manner. He was informative, efficient and responsive to our every need in this endeavor! You're doing great with Mike Jones!
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