IN APRIL’S ISSUE WHAT IS EQUITY & WHY IS IT IMPORTANT? THE GRAPEFRUIT LEAGUE WATERPROOF YOUR HOME
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2022 FEATURE
FLORIDA FINDS
IN YOUR CORNER
IN YOUR CORNER (HOW TO) WATERPROOF YOUR HOME
FLORIDA FINDS THE GRAPEFRUIT LEAGUE
FEATURE STORY
LIVING LARGE
WHAT IS EQUITY & WHY IS IT IMPORTANT?
LIVING LARGE 5 THINGS TO KNOW ABOUT INSTALLING A PATIO DOOR
MARKET UPDATE CURIOUS IF PRICES ARE UP? WHAT’S THE MARKET DOING? WE’VE GOT ANSWERS!
KID’S CORNER HOW TO CREATE AN AWESOME KIDS’ BEDROOM
CBV CARES LEADING THE WAY IN OUR COMMUNITIES
The cover image was photographed by OMRI D COHEN.
©2022 Coldwell Banker Real Estate LLC. A Realogy Company. All Rights Reserved. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office Is Independently Owned and Operated. Coldwell Banker, the Coldwell Banker Logo and “We Never Stop Moving” are registered service marks owned by Coldwell Banker Real Estate LLC. All information deemed reliable but not guaranteed.
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The following is a guest blog post from SONYA SANTOS, GCP Applied posted by CHRISTIAN MONTIEL originally published on Blue Matter, the Coldwell Banker Blog. Edited by Chelsea Cornelius.
home
Do you know what the envelope of your home is? Just as the name “envelope” implies it is the skin of your home that protects you from the outdoor elements. The envelope of your home includes: the roof, walls, and windows. These three areas are the keys to waterproofing your home. If they are built right, your home will be protected from water damage.
Now that you can speak the language to your contractor, you may be wondering how to use this information. It’s simple, go through the envelope of your home (roof, outer walls and windows) to ensure they are built with the right materials and thus watertight. If you are building a home, you will save yourself a lot of trouble and money if you build it right the first time, by using the latest innovations to protect your home from water intrusion and subsequent damage. Whether you’re building a home or updating your current home, your motto should be “Don’t just build it, Protect it.” To find out how to protect your home from water damage, follow these three steps:
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roof
The complete roof system consists of multiple layers – not just the shingles. Shingles are the exterior layer, and shingles alone will not keep the water out. What makes the difference and protects your roof from water damage is the roofing underlayment, which is installed underneath the shingles. Roofing underlayments perform many functions in a roofing assembly, but first and foremost, they serve as the last line of defense between homeowners and the damaging effects of water infiltration. While use of an underlayment is required by building code, there are multiple product types that can be used. Be sure your contractor uses quality self-adhered roofing underlayments so you receive the ultimate waterproofing protection. Requesting that your contractor use self-adhered roofing underlayments is important, especially at the eaves and at all critical detail areas. There is a wide variation in product quality and performance. GCP Applied Technologies’ Grace Ice & Water Shield® pioneered the self-adhered roofing underlayment category more than 35 years ago. Grace Ice & Water Shield® provides premium performance as it seals to itself at overlaps, seals to the roof deck and, most importantly, seals around the fasteners used to attach the shingles, which helps prevent water from leaking into your home.
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windows
Windows are large openings in your home so they can definitely be major leak zones. Even if windows are well shuttered in a storm, wind-driven rain can be blown into the house at these points, especially if they have not been properly flashed and weatherproofed. Proper selection and installation of flashing at the windows and doors is critical to the performance of your home’s weather barrier system. If not properly selected and installed, wind-driven rain can leak in and quickly cause rot and mold in your walls. Flexible flashings such as GCP Applied Technologies’ Vycor® Plus and Vycor® PRO can be used to seal windows, doors, corners, and other non-roof detail areas. These products are designed to form a watertight and airtight seal with building materials; thus protecting your home from water damage and air infiltration.
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As you would guess the walls of your home are pretty important! While walls may seem pretty simple to the eye, there are complex layers hidden underneath the siding of your home. It is important that the materials that comprise those layers are selected and installed properly. You may be familiar with traditional house wraps that are used during construction or remodeling of a house, but today there is a new innovation that provides premium weather protection and is an advanced alternative to house wraps. Vycor®enV- S™ utilizes the latest in residential building science to create an air-tight, yet “breathable” home, and achieve the highest product performance available. Unlike mechanically-attached house wraps, Vycor® enV-S™ seals to itself at overlaps, seals around fasteners, and forms a strong bond with the substrate. During construction, Vycor enV-S withstands harsh weather conditions, eliminating costly rework. And, most importantly, Vycor® enV-S™ improves the home’s energy efficiency, leading to significant savings for the homeowner. A recent study conducted by the Oak Ridge National Laboratory (ORNL) revealed that Vycor® enV-S™ achieved an air leakage rate seven times lower than the leading house wrap brand. A reduced rate of air leakage translates to lower annual heating and cooling costs—an important benefit that homeowners will surely value and appreciate!
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brick houses Believe it or not, a brick house has the potential to allow water to enter the home, too. There are actually three possible entry points water can find- through the mortar, the bricks themselves, and where the brick and mortar meet. In fact, many brick veneer houses built in the last ten years tend to leak. These homes require both a house wrap below around any wood framed exterior walls and a waterproofing agent on the brick. If you have a brick or concrete brick house you can create an extra layer of protection around your home as well. All you need is a bucket, paint roller, and a waterproofing agent. You can apply it generously directly to the brick, top to bottom. By unlocking the envelope of your home and ensuring it is properly built, your home will stay dry and care-free. Photography provided by the following in order of appearance: Debby Hudson / Diana Akhmetianova(A1/A2), Anna Atkins(B), Spacejoy(C), Victor Forgacs(D), and Jens Behrmann (E).
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league The following is a post by Chelsea Cornelius.
Back in the late 19th century, the Washington Capitals brought America’s Pastime to the great state of Florida for three weeks. It was initially meant to get all of their players back in shape for the upcoming season; the sport was far different than the institution it is today. In fact, when baseball began to pick up speed over the 19th century, it was a renegade sport where different teams had different rules, and the umpires would just ask players to simply hit a little better rather than call balls and strikes. As the game evolved, so did the rules and the discipline of the teams. By the time the Washington Nationals had their first spring training in Jacksonville, FL, in 1888, the game pretty much resembled the game we know and love today. The Washington Nationals had an abysmal season, and looking for a scapegoat no longer felt the spring training was worth the travel. The American League champions from 1900, the Athletics spent an entire spring season in 1901 in Florida but then too blamed their next season’s failure on the Florida spring training. Their star pitcher, Rube Waddell, who was heartbroken over a Duval brunette and also found himself wrestling alligators while in Jacksonville, did not have a great year. The team’s manager, Connie Mack, found it easy to say Jacksonville was responsible for distracting his players. The Philadelphia Athletics would still return to Jacksonville, and perhaps the city wasn’t solely responsible for distracting his players as they went on to win the World Series in 1910 and 1911.
Spring is here, and that means gorgeous weather and a mix of spring showers in Florida. That fabulous Florida sunshine and mild temperatures are what brings baseball teams from around the country to our state every year for spring training. It is a month full of training, trades, and pre-season games that became a tradition that goes back over a century, over 130 years in fact. All of the teams who train and play in Florida during spring training were coined “The Grapefruit League.” Let’s take a look at America’s Pastime in Florida and the origins of the league’s nickname, which is still used today by the MLB.
Other teams started to come to Florida as well, several being bribed by mayors and businessmen offering to pay for the travel and stay expenses for players. The city leaders and businessmen saw the opportunities to profit from the families following their beloved teams. In the spring of 1914, the league was really starting to form with teams in Jacksonville, St. Petersburg, Tampa, and St. Augustine. Although the league was formed, it was not until 1915 that a comical event would make local news and garner enough hubbub to become the league’s official name. In March, the Brooklyn Dodgers were playing a game in Daytona, their home for spring training. It was there that a publicity stunt was supposed to take place, which it did, but not according to plan.
The pilot of the plane was the national hero and female aviator, Ruth Law. She was contacted by the Dodgers manager, Wilbert Robinson, to throw a baseball out of the plane because she had previously done so with golf balls for a local golf course. As Robinson waited to catch the baseball for the delight of the fans below, he saw something that wasn’t a baseball headed toward him. The debate of whether it was a prank or an accident continues, either way, a grapefruit was thrown out of the plane and burst as soon as it hit Robinson’s glove. Needless to say, the manager was completely drenched in grapefruit pulp and juice, and rumor has it that he thought he was injured and bleeding. Luckily, his pride and arm were the only things bruised that day, and on the plus side, the publicity stunt was a success, and the event became a baseball legend. Robinson understandably lost a taste for grapefruit after that, and the legend spread, which led to the adaptation of the Grapefruit League nickname. The Grapefruit League would continue to grow and, by the 1920s, advertised as such. Over the years, more teams flocked to Florida cities, and the cities enjoyed the additional tourism and entertainment that filled the stadiums and played out off the field. Although this year’s Grape Fruit League schedule was published, a lockout had fans and Florida businesses waiting for those players to return. Luckily an agreement was reached and the beloved Florida tradition of the Grapefruit League continues.
Photography provided by the the State Library and Archives of Florida, floridamemory.com or are public domain. Additional photo provided by Michael C (A).
What Is
Equity& Why Is It important? A
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The following is a guest post by VICTORIA KEICHINGER, originally published on Blue Matter, the Coldwell Banker Blog. Edited by Chelsea Cornelius.
You’ve probably heard people throw around the word “equity” when they’re talking about homeownership. You might have heard someone say that owning a home helps you “build equity,” or perhaps you heard someone talk about “borrowing against equity.” But what exactly is equity? And why does it matter?
What Is Equity? Equity is what you own, minus what you owe. It’s the percentage of your home value that belongs to you free and clear. If your home is worth $250,000 and your outstanding mortgage balance is $200,000, then you have $50,000 of equity in your home.
How Does Equity Grow? There are three common ways in which your home’s equity can grow: market appreciation, forced appreciation, and debt reduction. Market appreciation takes place when the value B of your home rises due to factors caused by the overall local, state, or national economy. If your home is located in a neighborhood that is experiencing a sudden burst of new jobs and population growth— and if that population growth is outpacing new housing construction—then there’s a likelihood that the value of your home may rise due to market appreciation.
Let’s return to the previous example. Your home is worth $250,000, and your mortgage balance is $200,000, meaning that you hold $50,000 in equity. Let’s assume that home values in your area start climbing as it has in Florida over the last five years. Your home is now worth $300,000. Guess how much equity you hold? You now have $100,000 in equity. With the way the market appreciated last year alone, you have probably gained even more equity than that. As the homeowner, you benefit from all market gains.
Forced appreciation is another common way that homeowners build equity. While market appreciation is based on factors outside of your individual control, forced appreciation directly results from your actions. When you hear about people making upgrades for the sake of boosting resale value, they’re referring to forced appreciation. Imagine that you carefully plan and execute a kitchen remodel. You replace the 30-year-old cabinets with a new set; replace the laminate countertops with granite, marble, or quartz; replace the linoleum flooring with hardwood, bamboo, or porcelain tile. Assuming that you managed this remodel cost-efficiently and made upgrade choices that are consistent with your neighborhood, the value of your home may exceed the renovation cost. For example, if you spend $8,000 on the renovation, which results in a home that’s now worth $15,000 more, this means you increased your equity through forced appreciation.
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Finally, you can boost equity through debt reduction, which means that you reduce the principal balance of your mortgage. Mortgages are amortized, meaning a larger percentage of your payments apply to interest at the beginning of the term, while more applies to principal near the end. If you want to accelerate equity growth at the start of your term, you can make extra principal payments. This boosts your equity while also lowering the total interest you’ll pay over the life of the loan. A combination of these factors can accelerate your equity growth. Since equity is the difference between “what you own” and “what you owe,” the 1-2 combination of boosting home value while also reducing the mortgage balance can be an effective way to build equity rapidly.
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Why Does Equity Matter? There are many advantages of holding equity. First and foremost, equity boosts your net worth. The higher your equity, the higher your overall net worth—your net worth can give you feedback on your overall financial health and help you make crucial financial planning decisions. Secondly, some homeowners who decide to move can use the equity from the sale of their home to make a down payment on another home. This allows homeowners to “trade up” without saving cash for a down payment. Furthermore, homeowners who downsize (meaning sell their current home and move into a smaller and less-expensive home) may cash out their equity—using some of their equity to purchase their less-expensive home and then receive the rest as cash. Finally, you can borrow against your equity and, if you choose, invest this money. Some homeowners borrow against their equity to start businesses; others borrow to remodel their homes or purchase investment properties. The home equity loan, home equity line of credit, and cash-out refinancing are several options that homeowners can choose from if they want to borrow against their equity. This can be an excellent opportunity to leverage your equity to purchase an investment property. Whether you are going for a rental property where the rent collected takes care of the mortgage and then some, or you are looking for commercial properties that pay for themselves, Coldwell Banker Vanguard Realty can help you navigate that purchase. Reach out to your Coldwell Banker Vanguard Realty Agent to discuss the potential to grow your real estate portfolio.
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What Should I Do? Equity can be a form of ‘forced savings.’ Once this equity is locked into your home, you’ll have the advantages and opportunities that come from holding a high-equity position, without the same temptation to spend this money that you might have if it were liquid cash. Assuming that you’re not planning any major projects that require a large cash outlay—such as starting a business, buying an investment property, a renovation, or paying for college—you may want to focus on boosting your equity. You can do this by accelerating your mortgage payoff, making strategic value-boosting upgrades, or both. However, if you are considering any of those investments, it is time to call your Coldwell Banker Vanguard Realty Agent to help you find the best strategy in this ever-changing market. I Photography provided by the following in order of appearance. Roger Starnes(A), Morgan Housel(B), Sidekix(C), Kam Idris(D), Jean Luc BenazetE), Laurence Katz(F), Omri D Cohen(G), Jonathan Borba(H), and Spacejoy(I).
5Patio Door Things to Know About Installing A
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The following is a guest post by VICTORIA KEICHINGER, originally published on Blue Matter, the Coldwell Banker Blog.
As the gateway to your home’s outdoor living space, patio doors provide beautiful, stylish transitions between your home and landscape. Choosing and installing a patio door is no simple task, but these five pointers can help any homeowner complete the process successfully. B
1. Choose a style that fits your home
Patio doors come in many different styles today. Not only do you need to keep in mind the space available for the door and how much natural light you want the doors to bring into the home, but you should also consider how the door connects the interior and exterior aesthetics of the home.
2. Carefully create the space you need for a new patio door If you’re not replacing a patio door, you should know there’s more to preparing a wall for the patio door than simply cutting an opening in the wall. Depending on the construction, you may need to incorporate other structural changes to your home. Done right, though, a well-engineered space will make the installation and enjoyment of the new patio door all the easier.
3. Even if you’re a DIYer, ask for help Patio doors are heavy—this is not a one-man job! Hiring the pros is something we would recommend, but if you’re a seasoned DIYer, make sure you use safe lifting techniques and a strong team to help you move the door safely. C
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4. Measurements count after installation, too D E
After the door is in place, check your measurements and ensure everything is level. This is the last opportunity to take things out and adjust before you anchor the door into place. Any off measurements could potentially cause permanent damage to the patio door or void the manufacturer’s warranty.
5. The door must be watertight Just like you want to seal out water around a window opening, the same philosophy applies to patio doors. A watertight door not only helps keep the home insulated but also prevents future leaks and damage from the outside elements. There are many considerations for installing a patio door, but these five tips can help keep any homeowner on track to complete the project. For more information about patio doors, styles, and installation ideas, be sure to check the Blue Matter blog, blog.coldwellbanker.com. Photography provided by the following in order of appearance. Greg Rivers(A), Glauber Sampaio(B), Steven Ungermann(C), Point3d Commercial Imaging(D), Six Acre Films(E), and Birgit Loit(F).
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Market Update February 2022
February 2022
$329,995
February 2021
$263,285
Want the latest market data when it’s available? Ask your agent if they are a part of the MLS MARKET UPDATE program.
According to the most recent NEFAR press release, "As the price of gas, groceries, and other necessities continued to climb in the month of February, so has the price of homes in Northeast Florida. 'The real estate market in Northeast Florida remains solidly a seller’s market with just 1.2 months’ supply, as active inventory of single family, condo, and townhomes settles in at 2,646 units, down from both last year and last month,' said Mark Rosener, president of Northeast Florida Association of REALTORS (NEFAR). "
What does this mean for BUYERS?
As interest rates are slowly inching up you will need to make sure you meet all of the prequalifications necessary to secure your loan. Contact your Coldwell Banker Vanguard Realty Agent to find out who the experts are you need to talk to and for help finding out what you need to get into your next home.
What does this mean for SELLERS?
If you are looking to sell, you are in a strong position. Your Coldwell Banker Vanguard Agent would love to discuss your real estate needs. They can ensure your return on investments(ROIs) reach their fullest potential in this historic market.
www.CBVHomesearch.com
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HOW TO CREATE AN
Kids’BEDROOM
The following is a post by SAKAI BLUE, originally published on Blue Matter, the Coldwell Banker Blog. Edited by Chelsea Cornelius.
You might think a shared kids’ bedroom is basically an anomaly. Many of us are blessed that our kids have their own bedrooms and get to grow up in homes with tons of square footage. But the picture looks a lot different for other families who weren’t able to find a home in our recent seller’s market or just aren’t in a position to buy a home right now. Many families put in offers well over asking but still lost out to all-cash offers. Or just those who wanted to hold out for the perfect home even while inventory dwindled. Regardless of your circumstances or those you know in those circumstances, it’s totally not an issue if you can create a space your kids will love spending time in. A shared bedroom can be one of two things: a cluttered, conflict-generating space where kids attack each other with stunning regularity, or a beautiful, inspiring, imaginative space where kids can learn and dream. Before you think that your kids’ room needs to be massive in order to make it the latter, it doesn’t. Even the smallest spaces can be gorgeous, fun, and livable.
One Big Kid, One Little Baby First, there were just the three of you, traipsing around the city, going to kiddie concerts and farmers’ markets, baby slung adorably across your tummy. Pure bliss. You furnished the kiddo’s room with furnishings from Land of Nod, Restoration Hardware Baby & Child (psst ... there’s a lot of shopping options online and several antique stores or consignment shops to find bargains in too.) Then much-wished-for Baby Number Two came along. Your apartment or starter home hasn’t gotten any bigger, and the market has priced you out of moving before the baby comes, so for now, you’ll have to figure out how to fit the two kids in the room. Some ideas: C
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• You can have the traditional setup of a twin bed and a crib. If you go this route, it will help to give the older child a self-contained space around their sleeping area. This way, putting the baby in the room won’t take away the bigger child’s sense of ownership of their space. • Let your older child help with decorating the “big kid” side of the room, and encourage their assistance in decorating the baby’s side as well. This will allow your big kid to feel like they’re sharing in the process. • If your space is especially small, consider a combination bunk bed/crib. The bunk bed sits over the crib, making great use of rooms with limited square footage.
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Two Big Kids If you’ve got older kids sharing a bedroom, there are lots of fun ways to make the space really work. If they’re old enough, ask them for their input-on furniture choices. • The side-by-side twin bed setup can be really beautiful if you’ve got enough floor space for the kids to move around. Choosing the same type of bed and bedding will make the room seem more streamlined. • Let the kids individualize their own sections of the bedroom. Even if they don’t mind sharing, they’ll still want their own space. • Bunk beds are cool; built-in bunk beds are awesome. If you’ve got the budget and space (and it makes sense for your long-term goals), having bunk beds built into the room by a talented and reputable contractor can really turn it into the go-to party pad for your kids and their friends. Many built-in bunk bed units are completely self-contained, with privacy drapes, lighting, and storage space. • If you’ve really, really, really got no room for anything larger than a single bed, get a trundle bed, which you can keep tucked away throughout the day until it’s bedtime. This solution will leave room for important floor space in a shared kids’ bedroom. D
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Photography provided by the following in order of appearance: American Blake Wooline(A/E), Edward Cisneros(B), Collov Home Design(C), Bruce Mars(D), Jonathan Borba(F), and Shashi Chaturvedula(G).
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GUIDING
YOU HOME
Since 1906
“No act of kindness, no matter how small, is ever wasted.” -Aesop Last month we loved celebrating all that was achieved by the Coldwell Banker Vanguard Realty Offices in 2021. As we are moving forward with 2022 we look forward to finding ways to create acts of kindness in our community through donations, volunteering, and fundraising. In February, Fleming Island/Oakleaf Office donated funds to AstroBot S.T.E.M. The non-profit is an online hub of S.T.E.M resources for all students to find scholarships, organizations, and role models to inspire them to pursue a S.T.E.M. Career. The Offices also raised money during their annual Tennis4Cancer tournament which goes to support the American Cancer Society’s Rich M. Schulze Family Foundation Hope Lodge and the Rotary Club of Orange Park Sunrise. The Ponte Vedra - Beaches Office supported the K9s for Warriors event, which was on the afternoon of March 5th. The event gave a behind-the-scenes look at the Ponte Vedra campus, and all that K9s for Warriors does for veterans and the K9s, which are 90% saved from Kill Shelters. Warrior, John Tappen, shared his personal journey and introduced his K9, Henry, as K9s for Warriors Development Manager, Elizabeth Reeger, discussed logistics and operations for the non-profit. The event itself raised over $500, and one of the Ponte Vedra - Beaches invitees donated an additional $1,000 after the event. John Bayer from the Bayer Group also raised over $600 in additional funds on Facebook and is continuing to raise money with a goal of $3,000 by Memorial Day Weekend. The additional funds will go towards supporting the new kennels being built to rescue and train more K9s. If you would like to donate, you can do so by following this link to K9s for Warriors Facebook Fundraiser. To nominate a favorite charity or organization that is near and dear to your heart, contact your CBV agent for more information.
A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE (800) 435-7352) WITHIN THE STATE. REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL, OR RECOMMENDATION BY THE STATE. The State of Florida registration number for CBV Cares, Inc. is CH61481.
Closing Bear is a fast-paced title company that offers title insurance and closings for anyone buying or selling real estate. Simply put, Closing Bear does all the paperwork when someone buys or sells property...but they do it better than anyone else.
OUR PROMISE We will take the stress out of your transaction and your closing will be a celebration, not a relief. We will add education to each customer so that you leave your transaction knowing every detail, and not asking “what did I just sign?” We will communicate with every party in the transaction in real time, clearly, and effectively. We will work harder than any title company you’ve ever seen.
ABOUT US “Closing Bear launched in June, 2019, and has quickly become the fastest growing title company in Jacksonville. By infusing modern technology and practices into an age-old industry, Closing Bear has positioned itself as the most innovative company in its market.” —Innovate Jacksonville
Chip Lynn, CEO/Managing Attorney • Chip@ClosingBear.com • (904) 738-1672 • www.closingbear.com
