Lisa Barton

As we go into the final quarter of 2011, I am reminded that news on the national real estate market has little to do with what is happening right here in Northeast Florida. In real estate, you hear the phase, "location, location, location." When it comes to the real estate market statistics in Jacksonville and Ponte Vedra Beach, the phrase is "local, local, local." Here's what happened last quarter in the Jacksonville real estate market:

• Overall in Northeast Florida, inventory was down. New listings decreased 23%. Additionally pending sales were up 24%. With listings down and sales up, signs of a stabilizing market are emerging.
• Through the third quarter, the Housing Affordability Index (HAI) continued to climb in the Jacksonville area. Year-to-date HAI was up over 7% In fact, CEO Greg Rand of Own America listed Jacksonville as the #1 place to invest in real estate due to the expected increase in population, increased job rate, and affordible housing.

If you're waiting to sell, now might be the time! Inventory is drastically reduced from prior years and closed sales are up, meaning buyers are taking action in the market.

In the luxury market (home sales over $1,000,000) of Ponte Vedra Beach North, there were 22 sales between January and September of this year. That's down slightly from 25 sales during the same time last year. In Ponte Vedra Beach South, 16 homes were sold January through September of this year, fewer than the same period last year. Deep discounts can still be found in the luxury market.

The Marsh Landing Home Owners Association and Marsh Landing Country Club invite all Marsh Landing residents and their guests to join them for an evening of Halloween fun! The party starts at the tennis courts with activities for children 10 and under from 4:30-6:00. At 6:00 there will be a haunted house, followed by a buffet dinner at the Marsh Landing Country Club's ballroom. This event will be a great way to start the Halloween celebrations! This will be one of the best Halloween parties in Ponte Vedra Beach. You won't want to miss it!

On Monday night, St. Johns County School District Superintendent, Dr. Joseph Joyner, presented his annual "State of the Schools" address. If you remember, St. Johns County has been ranked the best public school district in the state of Florida for the last three years in a row. We're lucky to live in a county that provides a high quality education for our children. For example, the district's high school graduation rate is 92.8 percent. WOW! Dr. Joyner's presentation is online if you'd like to see it in its entirety. 

Thinking of making the switch to a tankless water heater? You may want to consider these points before purchasing.

Tankless water heaters have been drawing a lot of attention lately. Makers of these units often promise dramatic energy savings and endless hot water flow. However, this may not always be the case. 

In several studies by Consumer Reports, tankless water heaters were found to have a slow return on investment. In fact, it could take up to 22 years to see the benefits. Tankless water heaters work when quick-acting, high-powered burners heat the water as it flows through a heat exchanger. A typical tankless water heater can cost between $800 and $1,150, almost double the cost of the more traditional storage-tank heaters. In addition, installation can be significantly more expensive if upgrades are needed to electrical outlets, water or gas lines, or pipes, as is often the case with the tankless units.

Good news for real estate investors! Jacksonville and, of course, Ponte Vedra Beach offer some terrific opportunities for real estate investors who want to take advantage of low home prices and excellent interest rates. The Ponte Vedra Beach real estate market is particularly attractive to investors because the St. Johns County School District was rated the best public school district in the state of Florida for three years in a row. Excellent public schools, nice neighborhoods and wonderful weather attracts home buyers and renters who want to make Ponte Vedra Beach their home. 

I just sold this adorable home in The Sawgrass Players Club to a real estate investor who shouldn't have any difficulty finding a tenant. This house was completely renovated just a few years ago and is only a block from the amenities at the Ponte Vedra Golf & Country Club.

Our very own Jacksonville, Florida was rated last week as the best city to invest in real estate, according to the CEO of OwnAmerica, Greg Rand. Reasonable home prices, ease of lifestyle and new employment opportunities make Jacksonville a great value now, with terrific potential for future appreciation. Take a look at this video clip to see the report.

Check out this recent article in Jacksonville's newspaper, the Florida Times Union. Our local real estate market is showing good signs of improvement, especially in the luxury home market. Click here for the article.

Considering a remodeling project for your home, but not sure what projects will improve your home's value? The Remodeling Magazine publishes a yearly report that compares the average cost for 35 popular remodeling projects with the value those projects retain at resale. In Jacksonville and Ponte Vedra Beach, the projects that give you the most "bang for you buck" were reported to be:

• new front door
• new garage door
• replacing the roof
• adding a deck
• remodeling the kitchen

If you'd like to see the entire Cost vs Value Report for 2011 click here.

Here's a quick summary of the Bridge Water Island neighborhood in Sawgrass Players Club. If you have any questions please feel free to contact me.

• Neighborhood: Bridge Water Island
• Nearest Major Intersection:  Solano and TPC Parkway
• Gated: Yes
• Clubhouse: The Ponte Vedra Golf & Country Club (formerly known as Oakbridge Country Club) has tennis, a pool, golf, and dining. You must be a member or a member guest to access these facilities.  Only a few blocks away is the TPC Clubhouse which is open to the public. There are a variety of membership categories available depending on how much you want to play golf.
• How Many Homes: Bridge Water Island has approximately 40 residences.
• Size Range: Most are two stories, 3 bedrooms, and are less than 2,500 square feet.
• Pedestrian-Friendly: Yes, very.
• Recreation: There is a very large playground with basketball courts, soccer fields, jungle gym, walking trails and covered picnic tables in Oakbridge. 
• Nearest Grocery Store: Publix, Winn Dixie, and Fresh Market are all close.
• LB’s Favorite Neighborhood Feature:  Immaculate neighborhood. Many of the homes have very nice water views.
• Fun Fact: Bridge Water Island is one block from the Sawgrass Shopping Center.

The Ponte Vedra Realtor Council is a social/educational organization that hosts four meetings a year for real estate agents in Ponte Vedra Beach. As the Chairman this year, one of my responsibilities is to arrange speakers for our group. Today's speakers were Janet Herrick and Adam Hoyles of Onsite Environmental Consulting. OSE assists property owners and potential buyers by conducting site assessments for wetland delineation, environmental permitting, listed species studies, dock permitting, water quality monitoring, etc. They work closely with many of the regulatory organizations to help property owners understand how their property can (and cannot) be developed. Both Janet and Adam were dynamic speakers and, fortunately, there was time for real estate agents to ask questions about specific issues. 

Here are a couple highlights from their presentation:

1. What are wetlands and why are they important?

• Act as filtering agents, remove toxins and excess nutrients from the water.
• Stabilize the shoreline and provide flood protection.
• In hurricanes, they reduce the storm surge.
• Illegal to dredge or fill without a permit.
• You can hand clear a wetland, but not root rake it.
• You cannot plant sod in a wetland.

2. What are conservation easements and what rules govern them?

• A restrictive easement that allows for natural uses only.
• A protected area for conservation use to ensure habitat for wildlife, protection of wetlands and water quality.
• Governed by a Water Management District if in a subdivision, or by the Department of Environmental Protection if property is a single family lot not associated with a subdivision.
• You cannot cut down any plants, clear the property or plant sod.

Onsite Environmental Consulting's offices are located in Jacksonville and they also consult in St. Johns County, Nassau County, and Clay County.