Lisa Barton

Just read an exciting article about improvements in the the Jacksonville real estate market. According to the National Association of Home Builders/First American Improving Markets Index (IMI), the number of housing markets showing measurable improvement nearly doubled in January with the addition of 40 new metro areas. The IMI now shows 76 improving markets, up from 41 in December, with 31 states and the District of Columbia represented by at least one entry.

In Florida, three cities made it onto IMI’s improved list: Jacksonville, Cape Coral and Punta Gorda.

“The fact that the list of improving housing markets nearly doubled this month shows that a significant, positive trend is developing, and is even more relevant when you consider the expanding geographic distribution of the list – which now includes 31 states and the District of Columbia,” says NAHB Chairman Bob Nielsen. “This trend could be even stronger if not for the numerous impediments that continue to slow a housing and economic recovery, including overly restrictive lending policies and the growing inventory of distressed properties in certain markets.”

To read the entire article click here.

Who is your real estate agent working for? One area of confusion for Buyers and Sellers is the role real estate licensees have in real estate negotiations. There are three basic options in a real estate transaction that a brokerage firm can assume: no brokerage agreement, transaction broker and single agent.

In a no brokerage agreement the agent is simply handling the paperwork of the transaction and cannot represent or negotiate on behalf of the buyer or seller. As a transaction broker the agent provides limited representation and does not have a fiduciary capacity. In this form of representation the buyer / seller is a customer of the agent and has given up their right to undivided loyalty of the licensee. In other words, a transaction broker may not work to the detriment of either party in a real estate transaction, but conversely cannot work to benefit either party either. Many brokers have opted for this limited representation for financial gain and to avoid legal responsibility for both the broker and the customer.

The highest degree of accountability comes with single agency. As a single agent, the broker has a fiduciary relationship and owes complete allegiance to the buyer or seller, who is then referred to as a Principal or Client. This means that the single agent is not only allowed to work to the benefit of their Principal, by law the agent must work to achieve the best terms for their Principal.  As a fiduciary representative, a single agent must provide Loyalty, Confidentiality and Obedience to the Principal whereas other forms of representation may not. More and more buyers and sellers are looking for the full representation from their broker that single agency provides.

As our industry evolves and customers continue to demand a higher degree of accountability from their real estate broker, agents are faced with the question of whether they want to represent people or paper and in the end, it is the buyer or seller that will decide if they want to be a Principal or a customer.

The quarterly sales meeting for Prudential Network Realty was held this past November in the community clubhouse in Nocatee. Wow, what a beautiful building! Prudential's agents had a chance to hear from the developer of Nocatee about the growth and changes in this new community. Our speaker was Rick Ray, who's a managing partner for the Parc Group. Rick emphasized his company's "back to the basics" approach to real estate development as being important in the success of Nocatee's sustained growth. 

This unique cottage-style home on a one-acre lot is a wonderful combination of classic charm and modern convenience. Located in Neptune Beach, FL, this new listing at 821 Penman Road is one you won't want to miss. WIth four bedrooms and three and a half bathrooms, this house has over 3,400 square feet of living space. The deluxe master bedroom has a walk-in closet and dual vanities. Just outside the master bedroom, you will find a tranquil wrap around deck, great for relaxing or quiet entertaining. Another large deck surrounds a beautiful magnolia tree in the back yard and is the perfect location for hosting large gatherings or slipping away with an iced tea on a lazy afternoon. This home has been the winner of several "yard of the month" awards and is a must see. Take a look at the video and get a sneak peak!

Recently, I was contacted by Florida Realtor Magazine. I'm excited to have been interviewed for an article (Give Them What They Want) in the September edition of the magazine! This article discusses how I'm using my website to best suit both buyer's and seller's needs. You can read my comments and the article by clicking here.

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.

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.

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.