Tag Archives: homes for sale in Jacksonville FL

Homeowners Should Have Some “Fear of Missing Out” on This Market

30 Thursday Jun 2022

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If you’ve been thinking about selling and hesitating or simply waiting, you may want to start thinking about how you’ll feel if you miss out on the best time to sell your house in a long time. You never know when (or if) conditions will be like this in the real estate market again.

It’s been a sellers’ market for quite some time now, and with rates going up significantly and home prices still historically high, there’s a lot of chatter about whether or not there’s a real estate “bubble” that’s about to pop. In particular, The Federal Reserve Bank of Dallas recently warned about the potential of a housing bubble and how buyers’ “fear of missing out” (FOMO) is making it worse.

On the other hand, a recent survey revealed that home buyers are still hopeful and feel that it will still be a good time to buy a home in the next three months. 

That’s despite the fact that even though there have been signs and reports about the market slowing, according to this Realtor Magazine article, as of March sellers have still been:

  • Receiving an average of 5 offers on their home
  • Selling for above list price over 57% of the time
  • And 87% of listing sold in less than a month

Much of that may very well be fueled by buyers’ FOMO, but it can’t and won’t last forever. That’s how the real estate market works—it goes up, then it goes down, and then back up again in cycles. So even if you “miss out” on this moment in history, there will certainly be a time when home values are this high, or even higher. 

But will there be such a combination of high values, low inventory, historically low rates, andhigh demand? And when will it happen? How will you feel if you “miss out” now? 

Those are questions you need to ask yourself if you’ve been toying with the idea of selling your house. 

The Takeaway:

Don’t be fueled by fear of missing out, but definitely think about how it would affect you if you did, because the market’s still in your favor…for now at least. If you’re going to sell in the next few years, now is as good a time as any to take advantage of the fact that buyers are still hopeful, offers are plentiful and over asking price, and homes are selling quickly.

GITT (get in touch today!) Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 HanleyHomeTeam.com

Hate Your Neighbor? New Survey Shows You’re Not Alone

23 Thursday Jun 2022

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Do you have a neighbor that annoys you? The chances are, you do! According to this REALTOR Magazine article, a recent survey done by Lending Tree revealed that 75% of Americans don’t like their neighbor.

What bugs people about their neighbors the most? Take your pick:

  • They give off a “weird vibe” (28%)
  • They’re too loud (27%)
  • They’re rude (27%)
  • Disruptive pets (17%)
  • They’re nosy (16%)
  • They don’t maintain their home (16%)
  • Unruly kids (13%)
  • Guests park in front of their home or in their spot (13%)
  • They’re smokers and the smell is bothersome (11%)
  • Disagree with political views (4%)
  • They rent their house out short-term (3%)

So if you have a neighbor that annoys you for any of those reasons, just know that you’re not alone. But simply knowing that doesn’t make it any better, so here are a few tips on how to avoid or deal with neighbors you don’t get along with.

  1. Try before you buyBefore you buy or rent a place, take a walk around the neighborhood during the time people will likely be outside. Get a feel for how they greet you…or don’t greet you. Chat with the neighbors you’ll potentially live directly next to if possible, and see what they’re like. Walk around and just watch and listen to what goes on in the area. If possible, do this on different days and times to get a more thorough feel.
  2. Be pleasant and friendly Most people aren’t going to intentionally annoy someone who’s pleasant and friendly with them. Whether you like them or not, just being nice can go a long way in getting them to treat you nicely. And if they do something that bothers you, it’ll be easier to have a conversation and resolve the issue.
  3. Avoid themPeople complain about how everybody is so busy nowadays, and even when they’re home, they spend all their time inside. So, you can probably live on the same street or in the same neighborhood as someone and not interact all that much. So if you don’t see eye to eye with someone, just do your best to avoid having to even lay eyes on them as much as possible. 
  4. Have a chatIf you have a problem with a neighbor and can’t avoid them or the issue, don’t come at them aggressively. Bring up what bothers you in a diplomatic way. See how they react before you presume they’ll be defensive or argumentative. They may have no clue that they do something that bugs you, and they might be willing to do whatever it takes to keep the peace. 
  5. Put it in writingIf you have a chat and it doesn’t go over well, or the problem persists, see if what they’re doing violates any local laws or ordinances. If it does, let them know that you’d prefer to avoid reporting the behavior to authorities, but will if it continues. Putting it in writing puts them on notice that you’re serious. But, it is a serious step, so only do this if it’s intolerable, because it’ll be hard to be on friendly terms at all afterwards. The best outcome you can hope for going this route is that they cease the behavior, but you still won’t be on good terms. 
  6. Call the authoritiesIf it persists or escalates, you may just have to call the police or local authorities to step in.
  7. Maybe moveThe last resort is to just move. If you don’t feel safe or comfortable, definitely consider moving. But if it’s just not ideal, and you wish you had better neighbors, think twice about moving. As you can see by the results of the survey, the chances are, even if you move somewhere else there’s a good chance you’ll have a neighbor you won’t like.

The Takeaway:

As statistics show, there’s a good chance you won’t like a neighbor wherever you move, which also means there’s a good chance one of your neighbors won’t like you. Even if you live on a one-way street, being a good neighbor is a two-way street. As much as a neighbor might annoy you, you could be doing something to annoy them. So think about how you’d want to be treated if that were the case, and treat your neighbors similarly. Try to handle your grievances with diplomacy, respect, and understanding.

Get in touch and let’s find you a GREAT neighbor! Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 HanleyHomeTeam.com

Just Sold Your Home? Make Sure to Do These Things

16 Thursday Jun 2022

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You just sold your house. Congratulations! But while you’ve knocked the biggest task off of your moving to-do list, there are still things you’ll need to take care of as you transition out of your current home and into a new living situation.

So what, exactly, are those things?

A recent article from realtor.com outlined key things sellers will definitely want to consider doing following the sale of their home, including:

  • Organize and file all of your paperwork. After you sell your home, you may be tempted to toss your paperwork into a drawer and forget about it—but when tax day rolls around, you’ll need copies of any paperwork associated with the closing and settlement. Make sure to organize and file all of your paperwork in a safe place; that way, when April 15 hits, you’ll have everything you need for your taxes ready to go.
  • Send change-of-address notices. Once you sell your home and move out, you want to make sure your mail follows you to your new address—so make sure to fill out your change of address form ASAP. (In fact, the US Postal Service recommends completing your change of address request 30 days before you move out.)
  • Think about what you need from a buying agent. Sometimes, the agent that helped you sell your house is the perfect person to help you find a new home—but not always. Before you commit, think about what you need from a buyer’s agent—and whether your selling agent fits that criteria. (For example, if you’re moving to a new city, you’ll probably want to work with an agent that’s familiar with the area.) If you do opt for an agent other than the one who helped you sell your home, ask him or her for a referral to an agent they trust to help you with your purchase.

Want more tips? Get in touch! Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 HanleyHomeTeam.com

Selling a Home in Today’s Market? Don’t Believe Everything You Hear

09 Thursday Jun 2022

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People say a lot of things about selling a home in today’s market. But unfortunately, some of it isn’t true—and buying into those myths can have a negative impact on your home sale.

So what, exactly, are people saying about selling your home in today’s market that just don’t align with the facts?

A recent article from realtor.com outlined common myths about selling a home in today’s market that simply aren’t true, including:

  • “Buyers will take anything—so there’s no need to renovate or repair.” Many sellers think that low inventory means that buyers will be willing to pay top dollar for any property. But the truth is, many buyers are put off by homes that appear like they need a lot of work. So while there’s no need to completely renovate your home prior to listing, making small, cosmetic repairs (like tidying up the landscaping or repainting the walls) can make a huge difference in how attractive your home is to buyers—and ultimately, how quickly (and profitably!) your home sells.
  • “There’s no need to invest in marketing my home; in this market, homes sell themselves.” It may be a seller’s market—but that doesn’t mean, as a seller, you don’t have to put in any effort to sell your property. Buyers spend a lot of time scouting homes online—so if you want your home to sell, you’ll want to invest time and resources into making your listing as attractive as possible (for example, getting professional photos of your property).
  • “In a bidding war, choosing the highest offer is always the right move.” Bidding wars are a common occurrence in today’s market—and many sellers believe that, if their home inspires a bidding war, they should accept the highest offer. But that’s not always true. There’s a lot more to an offer than just the purchase price—and going with a slightly lower offer with better terms (for example, more flexible closing terms or an all-cash offer) is often a better option than just choosing whichever offer has the highest dollar amount.

The Takeaway:

So what does this mean for you? If you’re thinking about selling your home, it’s important to arm yourself with the right information about how to navigate the current market—and to avoid buying into myths that could potentially derail your sale.

7 Ways for Homebuyers to Deal With Rising Interest Rates

02 Thursday Jun 2022

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If you’ve been considering buying a house — or if you’re actually in the process — you’ve probably heard two things quite a bit lately:

  1. Interest rates are on the rise.
  2. They’re still historically low.

Yes, they are still historically low, but that doesn’t change the fact that they’re higher than if you’d just bought a house a little while ago. Kind of painful to hear, huh? 

What you’d probably rather hear is that rates and house prices will come down in the near future, so just hold on a little while and waiting will have paid off. Unfortunately, it’s looking like rates could go up even more in the near future, and house prices aren’t looking like they’ll definitely take a dramatic tumble. 

So let’s look at some ways you can deal with rising interest rates to make your payments as manageable as possible, and maybe even save some money.

  • Clean up your credit. The better your credit is, the better your rate will be. Take a look at your credit report and see if there’s anything glaringly wrong that you can have corrected. If it all looks foreign to you, ask your mortgage rep or a credit repair specialist to take a look and give you advice on anything they see that you could get corrected, pay off, or pay down in order to raise your credit score.
  • Shop around. Check with several lenders and see who offers you the best rate. Or go through a mortgage broker who has access to many lenders and can do the shopping for you. Be careful if one sounds way too good to be true; they could be quoting you a much better rate, but beware of the fees. If you have access to a credit union or a smaller local bank that knows you, make sure to check with them—they often have better rates because they lend their own money and / or have a closer relationship with their customers.
  • Buy discount points. Consider buying down your mortgage rate by paying “discount points.” These are fees you pay up front in order to get a lower mortgage rate. Buying a point will cost you 1% of your home loan and will generally buy your rate down by a quarter percent, although that can vary from lender to lender. Most will have a cap on how many points you can buy, and they also may offer you the option of buying lower increments than a full point. This is a good option if you plan on staying in the house for some time. Make sure to weigh how much it’ll cost you, and how long it’ll take to break even and then reap the benefits in terms of savings. 
  • Lock in your rate. Even though rates have already been on the rise, there’s a good chance they’ll go up even more. Rate locks are typically only offered for up to 60 days, so if you’re serious about buying soon, consider locking in at the current rate. Make sure to ask your lender how much a rate lock will cost you, if anything. Also find out if they offer a “float down” option, which will allow you to get a lower rate than you locked in at, if the rates do happen to come down before you close on your house.
  • Get an adjustable rate mortgage. Rates have been so low for so long that there wasn’t much demand for adjustable rate mortgages, since the 30-year fixed-rate mortgage was so affordable. But now that people are trying to save money however they can on their rate, adjustable rate loans are making a comeback. These typically afford you a better interest rate at a fixed rate, but only for a certain number of years before they adjust (as the name suggests). They could adjust up or down, depending upon what rates are when the time comes. To be safe, plan on the worst-case scenario of the rate being higher when that day comes. The length of time you have before the rate adjusts is often 5, 7, 10, or 15 years. These are perfect if you’re not even thinking about staying in the house for a full 30 years. So, consider how long you plan on staying in your house, and opt for one that won’t adjust before you move so you won’t be affected by a rate adjustment at all. For instance, if you’re pretty sure you’ll move in the next decade, a 10-year ARM might be the way to go.
  • Pay biweekly. By paying half of your monthly mortgage payment once every two weeks, you end up making an extra payment per year. Doing this cuts years and lots of interest off of your loan. 
  • Refinance when rates go down. Keep an eye on mortgage rates. When they come down a good amount, refinance your mortgage at a lower rate.

So, even if rates aren’t as low as they were in the recent past, you still have some options and control over how much interest you have to pay. Use one, or a mix of the strategies above, and you’re bound to save money! Let’s strategize together…Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 HanleyHomeTeam.com

Some of the Scariest—and Most Expensive—Things a Home Inspection Might Uncover

27 Friday May 2022

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Getting an offer accepted can be an exciting experience. But, in most cases, your home purchase isn’t a done deal just yet; before you close, you’ll need to get through the inspection process.

Ideally, the home inspector won’t find anything too concerning during the inspection. But there are certain home issues that may be uncovered during an inspection that could make you think twice about buying the home—thanks to the added time, stress, and costs those issues could throw into the mix.

So as a potential homebuyer, what, exactly, are those issues?

A recent article from realtor.com outlined some of the scariest (and most expensive!) things a home inspector might discover when inspecting a home, including:

  • An old deck. A deck can be a major selling point of a home. But decks also have a relatively short lifespan (12 to 15 years) before they start to corrode—which can lead to a collapse. If your inspector finds that the deck of the home needs to be rebuilt, you can expect to spend anywhere between $10,000 and $15,000 on the renovation.
  • A detached chimney. Repairing chimneys is an expensive undertaking; if the home inspector discovers that the chimney is detached from the house or has sustained significant damage, it will need to be replaced—which can cost upwards of $20,000.
  • Bad electrical panels. The electrical panels (also known as fuse boxes or breaker boxes) in older homes sometimes don’t work properly—and if your inspector finds that the electrical panels in your home need to be replaced, it will cost you between $5000 and $6000.

Don’t worry! Buying a home is NOT scary and we will make it easy! Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 HanleyHomeTeam.com

Recent College Grads Should Think Twice Before Renting a Place to Live

20 Friday May 2022

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People often envision young adults graduating from college, landing a job, and renting their own place to live. While it was never easy, that path has become more and more difficult to attain in a straight line. College isn’t cheap, and many grads are starting their adult lives with a heap of student loans and jobs that may not pay as much as it costs to live independently. 

It’s especially difficult because rents have risen 16% in the last year alone, and 28% since 2017, according to this Realtor Magazine article. If that’s not enough, throw in the fact that renters are facing bidding wars that are pushing them to bid anywhere from 10% over, to 1.5 times the listed monthly asking amount!

It’s not like you can snap your fingers and demand a high enough wage to make up for how much rent is. And there’s no magic wand you can wave to lower rent prices. So, what’s the solution? 

There’s no one-size-fits-all remedy, but here are a few things to consider if you’ve recently graduated from college and have been struggling with the cost of renting:

  • Live with family and save. Okay, it’s not the most appealing thing to hear, but it’s sensible. Sure, you’d rather have your freedom and a place of your own, but you might be better off moving back home and saving as much money as possible.A smarter move would be to not just stay long enough to save what you need to rent a place, but to stay as long as it takes to save enough to buy a place of your own.
  • Get roommates. You might be dreaming of having a place all to yourself, but you might need a roommate or two (or three) to help pay the monthly rent. You don’t need to be best friends with them. In fact, don’t just choose a roommate because you’re great friends. Make sure whoever you choose is reliable and financially able to share the costs.The last thing you want to do is take on the responsibility of a lease with someone who decides to move out and leave you picking up the slack when they don’t have enough money to pay their share.
  • Buy a rental property. If renting is barely affordable for you, buying a place probably sounds out of the question. But you might be able to, and you may be better off doing so. See if you can qualify for a mortgage and buy the most affordable home you can, even if it isn’t your dream home.Better yet, buy a multi-family house and live in one unit while renting out the others to help pay part (or maybe even all) of your mortgage. If you’re not in the financial shape to get a mortgage on your own, see if your parents or someone else you’re close to can co-sign or invest in a place with you. If that’s not an option, consider teaming up with another recent grad or two and buying a place together.

The Takeaway:

It’s never easy to strike out on your own after college, but right now it’s even more difficult. Just know that you’re not alone in your struggle—it’s hard for most recent grads. Many of them will do whatever it takes to get a place of their own even if it’s a huge financial burden and mistake, but with some thought and consideration, you can make some wise decisions that will set you up for a better future.

In Northeast Florida, it’s cheaper to buy than rent! Let’s find you a great first home/investment. Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 HanleyHomeTeam.com

Tips to Get Your Offer Accepted in a Bidding War

28 Thursday Apr 2022

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In today’s competitive market, it’s not unusual for a home to get multiple offers. So, if you’re planning on buying a home, it’s important to understand how to navigate bidding wars.

So, what, exactly, do you need to know when you’re ready to make an offer on the house, but you’re not the only buyer that wants to call the home their own?

A recent article from realtor.com outlined key insights buyers need to know when they find themselves up against a bidding war, including:

  • Make your first offer your best offer. When a home has multiple offers on the table, you generally only have one shot to grab the seller’s attention—so make sure that your first offer is your best offer. That means to make an offer at the upper limit of what you’re willing to pay and to include anything else you’re willing to make your offer more competitive (for example, waiving a contingency).
  • Write a personal letter. When you’re up against multiple other offers, a heartfelt letter to the sellers about why you want to buy their home could help your offer stand out—and, if the rest of your offer is competitive, could give you the extra help you need to win the bidding war.However, these have been coming under scrutiny in many areas recently, so make sure they are still acceptable in your area before writing and submitting one. Make sure to have your agent guide you in what you can and can’t say in your letter if you are writing one to include with your offer.
  • Know that the seller is in the driver’s seat. When you really want a home, it can be tempting to try to force or control the situation. But the truth is, in the case of a bidding war, it’s important to recognize that the sellers are in the driver’s seat—and accepting that all you can do is make your best offer and hope for the best can make the process less stressful.

The Hanley Home Team has several other tips to share with you! Let’s WIN – get in touch today.

Kevin and Jennifer Hanley, REALTOR, SRES. Luxury

OVER 1000 HOMES SOLD!
The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 HanleyHomeTeam.com

Mortgage Interest Rates Are Rising, but You Can Still Get a Great Deal—Here’s How

21 Thursday Apr 2022

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Mortgage rates are rising—and fast. According to data from Freddie Mac, the average interest rate for a 30-year fixed-rate mortgage hit 4.16 percent the week ending March 17—the first time rates have exceeded 4 percent since May 2019.

But don’t panic! Rising interest rates don’t have to put your home purchase on hold; you just need the right strategies to get a good deal.

So what, exactly, are those strategies?

A recent article from realtor.com outlined strategies buyers can use to score a great deal on their home (even as mortgage interest rates rise!), including:

  • Purchase points for a lower rate. Mortgage rates may be on the rise—but you can still lock in a low rate. Points allow you to pay an upfront fee to lower the interest rate on your mortgage; generally, 1 point will lower your mortgage rate by 0.25 percent—and will cost you 1 percent of the loan. It’s an upfront cost, but it can drive significant savings over the course of the loan—so if you can purchase points to lower your rate, you’ll definitely want to consider it.
  • Target homes that come in under budget. As interest rates rise, your dollar won’t buy you as much house as it did at a lower rate. That’s why, if you want to keep your monthly mortgage payment at an affordable level, you should consider targeted homes that are under your budget.
  • Explore down payment assistance programs. As interest rates rise, you may not be able to get as competitive of a mortgage as you could have when rates were hovering near all-time lows. But you can still find ways to save money on your home purchase—including down payment assistance programs. There are a variety of assistance programs in place (for example, programs for first-time homebuyers and programs for civil servants, like firefighters or teachers)—so it’s definitely worth doing some research to see if there are any programs you qualify for.

The Takeaway:

Interest rates may be rising, but there are still great deals to be had—so if you’re thinking about buying a home, don’t let the increase in interest rates stop you! Get in touch!

Kevin and Jennifer Hanley, REALTOR, SRES. Luxury OVER 1000 HOMES SOLD!
The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 HanleyHomeTeam.com

Is It Time to Lower Your Asking Price?

14 Thursday Apr 2022

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We’re in the midst of a historic seller’s market, when many homes are selling quickly and above asking price.

So, if your home has been on the market for a while and hasn’t sold, you may be scratching your head and wondering what the issue is. And, in some cases, it may be that your asking price is too high.

But how, exactly, do you know when you’ve priced your home too high—and when it’s time to bring that price down?

A recent video from realtor.com outlined scenarios where you should consider lowering your asking price, including:

  • You’ve had lots of showings—but no offers. If you’ve had plenty of potential buyers come and see your property—but none have made an offer—it could be a sign that your home is priced too high. (This is particularly true in today’s market, when most homes sell quickly.)
  • High volume of more affordable properties on the market. If your home is listed significantly higher than other comparable properties in your area, it could deter buyers—and you may want to consider lowering your asking price to be more in line with the going rate in your neighborhood.
  • New construction in your area. If there is new construction in your area that’s priced within range and/or offering incentives to buyers, it could make it harder to generate interest for your home at a high asking price.

Let’s discuss the importance of pricing your home correctly so you maximize your profit!

Kevin and Jennifer Hanley, REALTOR, SRES. Luxury

OVER 1000 HOMES SOLD!
The Hanley Home Team
Keller Williams Realty Atlantic Partners Southside
904-515-2479
HanleyHomeTeam.com