Q. Are today’s buyers leaning toward master planned communities or smaller intimate neighborhoods?
A. So much of it depends on the families themselves. Most master-planned neighborhoods offer fantastic amenities like pools, a club house, fitness center, basketball and tennis courts, and playgrounds. Aside from the physical amenities, they also offer different activities throughout the year to keep the neighbors more involved. This attracts a lot of out-of-town families, especially those with children, because they can meet people quickly. On the flip side, the more intimate neighborhoods can offer more privacy and a quieter setting for families who do not need all the amenities previously described and their payments are typically lower since most private neighborhoods do not have the CDD fees attached to them and they can afford more.
Q. Are buyers looking for the latest in new architectural designs or is price more of a focus?
A. The first question I ask my families when they come in: what type of home are they looking for? Most of their responses are an open floor plan and gourmet kitchens, but price is still key, or more importantly, the value for that price. One of the most popular floor plans we sell is a traditional ranch-style layout that many families are familiar with, but they see the value and craftsmanship at a competitive price, and that’s what attracts them to the home. There’s no need to reinvent the wheel when you have a quality product.
Q. Are you seeing many second home buyers?
A. Over the last few years, we are seeing more and more second-home buyers in our market. This is largely attributed toward families getting closer to retirement and looking for that second home to settle down in. We are also seeing a lot of families purchasing second homes and renting them out as investments. Buyers are seeing the prices are starting to rise again and inventory is low, so they are trying to purchase at a great price. Typically, these families are looking for smaller homes, between 2,000 and 2,500 square feet because they are easier to rent out and make additional income on.
Q. Are today’s buyers looking for new construction, resale, foreclosures or short sales?
A. As a site agent, I have a slight bias toward new construction. Some of the biggest factors that attracts families toward a new home is that builders will typically contribute toward their closing costs, which is a big benefit for first-time buyers. New homes also come with a warranty, which is in stark contrast to distressed properties that haven’t been attended to for long periods of time and buyers immediately become responsible for when they close. However, one of the benefits that families and Realtors appreciate the most with new construction is that they are dealing with someone directly, whether it’s a site agent or a builder, versus dealing with banks. Families know once they reserve their home or home site, they don’t have to worry about any other offers coming in for that property. Plus there is nothing like designing and customizing your own home.
Q. What is bringing today’s buyers to Northeast Florida?
A. We are very fortunate to be selling in such a great location. Northeast Florida is a prime area and we see a lot of families relocating here. What attracts many of the buyers are the quality school systems in St. Johns and Clay county, as well lower taxes for families coming in from other states. We are seeing more foreign buyers who are looking to invest in the area as well. Overall, Jacksonville and Northeast Florida is a great place to raise a family or settle down and enjoy retirement. It’s why I chose to move here over six years ago.
Q. Are the majority of your prospects first time buyers, move-up buyers or investment buyers?
A. The majority of the families I meet with are either first-time buyers or move-up buyers. First-time buyers are in a great position to take advantage of low interest rates without having to sell a home at a lower value than they might have paid. What’s incredible now is that it’s cheaper to own a home than rent, due to these lower rates. Move-up buyers are also taking advantage of this and while they might be selling their home less than what they paid, they are able to afford more home than they would have years earlier, giving them more bang for the buck. A lot of these move-up buyers are also renting out their existing home as well to offset that costs. Investment buyers are becoming a stronger force as well. They realize that real estate is still a great investment and with the demand of families looking for homes in this area, are taking advantage of the market.