Jacksonville Beachside Cottage

Jacksonville Beach Cottage

Cute 3/3 just two blocks from the beach!

Smell the salt air, hear the ocean breakers,

the discerning executive has found her home!

 

Want to see some more great deals at the beach? Call Richard Newquist 904-422-5091

First Time Home Buyers & Previous Owners Get Break Under Housing Recovery Act

Housing Bill Creates Great Environment for First-time Buyers, Says Richard Newquist, Real Estate Analyst in NE Florida.

The signing of the Housing and Economic Recovery Act of 2008 by President Bush has opened the door to first homebuyers and previous homeowners who haven't owned for the past three years.

New benefits such as a repayable first-time home-buyer tax credit. First-time buyers are important to the health of the housing economy because their home purchases help to stimulate sales up the price points. Through the home-buyer tax credit, buyers who are purchasing for the first time or who haven’t owned a property in the last three years can now qualify for a tax credit equal to 10% of their home purchase price, up to $7,500.

The timeframe to buy is between April 9, 2008 and July 1, 2009. The credit phases out if the buyer’s income exceeds $75,000 for an individual or $150,000 for a couple filing jointly and it must be paid back over a 15 year period in equal installments. The credit can be claimed on the buyer’s 2008 tax return even if the purchase is made in 2009 (it’s important to note that this is a tax credit and not a tax deduction).

Another component of the housing bill is an FHA overhaul which allows Fannie Mae and Freddie Mac to serve more home-buyers by raising loan limits in high cost areas above the standard conforming limit to 115 percent of the median house prices and up to 150 percent of the conforming loan limit.

"This Housing and Economic Recovery Act marks the beginning phase of the next ten-year housing cycle in which prices in the more affordable markets will only continue to appreciate", said Richard Newquist, long time real estate analyst now practicing in Jacksonville Florida.

Home loan proceedures have been reevaluated and some tightening has taken place especially in the area of down payment assistance by sellers which has now been ruled out as a source of funds.

Infusion Marketing

Straight advertising? Naw! It doesn't work. Advertising has lost it's credibility and, what's worse, the ads are packed full of clichés that don't work. People are sick of the clichés: "Must See" (why?), "Hurry--this one won't last" (yes it will), "Price Reduced" (for a reason), "Too Many Amenities To List" (oh really?), "42 inch cabinets and granite countertops" (good grief!), "Price Reduced" (you just cost the seller big bucks!).

Three minute video ads with jumpin music, sharp editing, great captions and some voice dubbing is the future of real estate advertising. The old 'fisheye' lens makes me motion sick. Property tours don't show any more than a bunch of still pics.

Three minute video ads are the wave of the future and this isn't a fad. It is infusion marketing that reaches all the senses of the viewer including the sense of "INTEREST".

Three minute video ads that will sell your property.

Are you a buyer who lives out of state? Want to get a better look at interesting properties? You can actually get DVD's of whatever interests you.

Check out XCELMARKETING.NET also for other marketing ideas.

Where have all the buyers gone?

According to the Florida Association of realtors, RE business in Jacksonville is down some 30% from 2006.

But 2006 listings and sales were way off from 2005!

So...from 2005 to 2008, the business is actually off some 40%. I have seen hundreds of "For Sale By Owner" signs go up...stay on the market for a year...and disappear...waiting for better times.

I have seen properties listed with brokers change brokerages two and three times...and they STILL DON't SELL!

Buyers don't realize it but in 2005, they would have gladly given their right arm for a market like this. They thought they would never be able to get into the housing market or get that investment property...prices were rising fast and furiously!

Today, prices are dropping, the pressure is off, the psychological urgency is gone...buyers don't see the need to buy that special house....TODAY. Why not wait 'till next month, "maybe the seller will get desparate and lower the price even more".

It's all about marketing, my friends. There are good deals on the market right now that aren't being bought. They should be sold but there they sit. The good deals need to be handled with more skill and agility.

Repo's are really a pain in the *ss. The contracts are totally one sided and the casual buyer shouldn't get involved. The Repo market is for the experts. Call me at 904-422-5091 if you want to find out the details. The average guy working a 50 hour week at a job have no business speculating in repo's.

Buyers: Wake up and take advantage of the good deals. Sellers: Make sure your price reflects the lower market demand.

Check out Active Rain.com, your real estate business school online...

Richard Newquist, Realtor PN, www.liveatthebeach.net
www.xcelmarketing.net


Experience Jacksonville Week: Your Florida Destination

CONTACT:
Lyndsay Rossman, Director of Corporate Communications
lrossman@jaxcvb.com

JACKSONVILLE, Fla. (July 9, 2007) – Northeast Florida businesses are partnering with the Jacksonville & the Beaches Convention and Visitors Bureau (CVB) to promote tourism to local residents from August 6-11, 2007 during Experience Jacksonville: Your Florida Destination Week. The week-long event will offer residents “Destination Deals” as a chance to save on area accommodations, attractions, restaurants, retail, nightlife hotspots, sports events and transportation services.

Richard Newquist, Coral Shores realtor, is offering tours of beachside properties from $3million to $140,000 homes and condos. Reach him at newquist@liveatthebeach.net.

“No longer can kids and adults say there is nothing to do at home…Experience Jacksonville Week gives local residents the opportunity to discover their own hometown and realize why millions of visitors enjoy our destination each year,” said John Reyes, president and CEO of the CVB. “Through the generous discounts offered by CVB tourism Partners, residents won’t have to travel very far to experience a wide range of activities. What better way to end the summer before school starts?”

Coupons for “Destination Deals” at over 50 local businesses are available at area visitors centers* and online at www.experiencejacksonville.org. Coupons must be presented to receive discounts and are only valid during Experience Jacksonville Week. Local news stations will also be promoting the celebration with giveaways throughout the week.

Experience Jacksonville: Your Florida Destination Week is a celebration of National Tourism Week observed nationally in May each year. Jacksonville delayed its annual concurrent celebration to avoid conflicting with THE PLAYERS Championship, held from May 10-13, 2007.

*For a listing of CVB Visitors Center locations, visit www.visitjacksonville.com.

Florida Is Business Friendly Says Forbes !

Richard Newquist, Realtor, PN at: www.liveatthebeach.net in Jacksonville Florida says:

Study: Florida among top 10 business-friendly states...WOO HOO! Something good is being reported!

NEW YORK – July 19, 2007 – Florida is as one of the best places to do business, ranking seventh in the 2007 listing of business-friendly states by Forbes.com. For the second year in a row, Forbes.com has ranked the top states for business, taking into account living costs, job and income growth, and educational achievement, as well as projections of job, income, and gross state product growth.

Forbes also measured the amount of available venture capital and how much red tape state governments inject in the business environment.

Who came in as No. 1? Virginia was the top-ranked state for the second year, finishing in the top 10 in four of the six main categories. Its strongest attributes include environmental incentives and a low unemployment rate. Here are the top 10 states and their rankings from Forbes.com: Virginia (1); Utah (2); North Carolina (3); Texas (4); Washington (5); Idaho (6); Florida (7); Colorado (8); North Dakota (9); and Minnesota (10).

Source: Forbes.com, Kurt Badenhausen (07/11/07)

Palm Beach Post

Richard Newquist Realtor
Live At The Beach.net

Here's an article that takes a slightly different approach to explaining Florida Real Estate:

By Linda Rawls
Palm Beach Post Staff Writer
Monday, May 14, 2007
Who's going to blink first?
The region's once-sizzling housing market - which for nearly five years lured investors with double-digit gains, easy credit and 40-year-low interest rates - has simmered to a showdown.
South Floridareal estate
Take a look at housing in our area, which has become one of the U.S.' most volatile markets.• Blogs, property listings, more A look at the effects of a volatile housing market on homeowners and builders. Post reporters' blog serves up latest updates and chat on South Florida real estate. Chat about the maddening twists of homeowners insurance on our blog.
More Business
Latest news, columnists, stocks, market tools• Mortgage rates

Indeed, some market watchers believe home prices are the object of a high-stakes tug of war between home buyers in Palm Beach County and the Treasure Coast armed with low interest rates, and home sellers who refuse to budge from boom-time home prices despite rising inventory, surging foreclosures and tightened credit standards.

"Even to this day we still have stubborn sellers who aren't being realistic," said Mike Larson, a real estate analyst with Weiss Research in Jupiter. "Some won't accept that the market has changed, and lower their prices." The result has been a painful slowdown with a ripple effect that has even local retailers crying foul as they see their sales dip. As the song says, "Something's gotta give," and experts are betting that sellers will blink first.

And when they do, they'll see a buyer's market.
Meanwhile, Palm Beach County teacher Stephen Luzinski wonders why prices have not already come down more.

"I am still waiting for prices to fall," said Luzinski, who's looking to buy his first home.
"I am out in this housing market almost every single day, but there does not seem to be a whole lot of budging by the owners," he said, eyes wide open. "It seems that most sellers are still looking to double, triple or quadruple what they paid for their house."

Flood of foreclosures
Such seller attitudes are unlikely to last, according to real estate forecasters. Primarily because there are just too many homes on the market. Nationwide, the number of vacant unsold units in the first quarter of this year set a record, the U.S. Commerce Department said recently, continuing a sharp upward trend that started last year.

David Seiders, chief economist for the National Association of Home Builders, puts the number at an "excess of about 1.4 million." Swelling inventory caused the National Association of Realtors to create a mini-stir last week when it revised its forecast to predict that existing-home prices would fall this year for the first time since the Great Depression. The 1 percent predicted drop - to $219,800 - is not as earth-shaking as it sounds, given that home prices in 38 of the 50 states declined in 2006, local real estate consultant Jack McCabe said.

Local home prices already have started their downward march, Realtors say, though they're not moving as fast as some would like.
The median price of an existing single-family home in Palm Beach County fell from $388,000 in January to $375,100 in March. In the Treasure Coast, however, prices have barely budged since the first of the year, remaining at a median of $239,700 in March. (April home sales figures come out next week.)

The number of unsold homes on the market from Boca Raton to Vero Beach has been steadily rising, surging to a record 24,028 homes for sale in March, according to Illustrated Properties Real Estate. That's a 27-month supply at the March sales pace. The same month a year ago, there were 18,178 unsold homes.

Unfortunately, this surge in inventory will be swelled soon by foreclosures, which are reaching record numbers across the nation and locally. "The biggest problem for single-family medium-priced homes is the beginning of this flood of foreclosures," Delray Beach developer Frank McKinney said. "If you're an optimist, it's a buying opportunity."
Not surprisingly, Realtors agree.

"What billionaire said, 'If you want to make money, do the opposite of what everyone else is doing'?" asked Realtor Bob Graeve of Illustrated Properties. "If everyone is selling," he added, "it's time to buy. If everyone is buying, that's the time to sell."

Living in Jacksonville

Jacksonville, FL, is one of the most interesting towns to live in in Florida.

We actually have a cold season and a warm season. We have beaches, rivers and lakes. We have BIG participation by some of the largest corporations in the U.S. and a wealth of small business that provides the backbone of the employment base.

The beaches run from Atlantic Beach to Jacksonville Beach in Duval County and Ponte Vedra Beach in St. John's County. The St. John's river is big and wide. It flows south to north and empties into the Atlantic Ocean at Mayport, a fishing village founded in 1563.

For the most complete real estate services in the Jacksonville, contact Richard Newquist @ 904-422-5091 or email at: newquist@LiveAtTheBeach.net