IN MAY’S ISSUE DREAMING OF HOME THE PRICE IS RIGHT KNOW YOUR FLOOD INSURANCE BEFORE ANYTHING HAPPENS
MAY
2022
FEATURE
IN YOUR CORNER
IN YOUR CORNER KNOW YOUR FLOOD INSURANCE BEFORE SOMETHING HAPPENS
FLORIDA FINDS THE PRICE IS RIGHT
FEATURE STORY
LIVING LARGE
FLORIDA FINDS
DREAMING OF HOME
LIVING LARGE PANTONE'S COLOR OF THE YEAR : MEET VERY PERI
MARKET UPDATE CURIOUS IF PRICES ARE UP? WHAT’S THE MARKET DOING? WE’VE GOT ANSWERS!
KID’S CORNER HELP YOUR KIDS & GARDEN GROW
CBV CARES LEADING THE WAY IN OUR COMMUNITIES
The cover image was photographed by SPACEJOY.
©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.
KNOW YOUR
FLOOD INSURANCE BEFORE
SOMETHING HAPPENS BLUE MATTER The following is a guest post by JENN HAWKINS, originally published on Blue Matter, the Coldwell Banker Blog.
Did you know that flood insurance is not included in your homeowner’s insurance policy? Understanding flood insurance requirements in Florida does not necessarily require an insurance agent’s license, but it doesn’t hurt to have an experienced broker guide you through all the information.
Why Purchase Flood Insurance? After the incredible hurricane season of 2005, with three hurricanes and two tropical storms (not to mention the close brushes with storms), the financial impact on property insurance providers to the state was significant. Lawsuits increased in number as many residents found out the hard way that their homeowner’s insurance did not cover rising water. Flood insurance could have saved some homeowners in Florida significant headaches. It is a relatively inexpensive policy, but some prospective homeowners might want to know if they are required to have it. It is easy to learn the flood insurance requirements and whether it is a good idea to purchase the coverage.
Where Do I Look First? Flood insurance is sold by only one group, the National Flood Insurance Program, backed by the United States federal government through the Federal Emergency Management Agency (FEMA). FEMA determines flood zones using historical records and Google mapping. If you are looking at a particular piece of real estate and wonder whether it happens to be in a flood zone, you can consult the FEMA Map Service Center and enter the street address, city, and zip code. Flood zones are typically marked “AE” on the flood zone maps and are areas that have flooded in the past; however, just because a property is not located in a marked flood zone does not mean it is safe from flooding. As a mortgage goes through the underwriting process and title search, you may learn that the area in which you are interested sustained flood damage within the last twenty years. If this is the case, the mortgage company could require that you carry a flood insurance policy.
How Can You Purchase Flood Insurance? The majority of property insurance carriers in Florida can provide you with a price through the National Flood Insurance Program. The prices for these policies, coverage limits, and deductibles are set by FEMA. The policy is issued and managed by FEMA; therefore, after the policy is purchased, your agent will no longer have any part in its handling. It is not unusual to be informed in the final stages before a closing that a flood insurance policy must be purchased. But don’t worry: Policies and deductibles are reasonable. They range from $40 to $100 per month and cover both property and dwelling contents. If you are interested in a particular piece of real estate and wonder whether you will be required to purchase flood insurance, consult the FEMA flood maps. Suppose the property is not in a flood zone, a high-risk zone (areas susceptible to hurricane storm surge), or near other bodies of water. In that case, it is unlikely you will be required to purchase flood insurance, but the mortgage company will have the final say.
Photography provided by the following in order of appearance. Daniel Sinoca (A).
It was in December of 1961, and Mysterious Island was just hitting theatres. The film was set during the Civil War, and after a rough storm, three Union soldiers and a war correspondent being held in a Confederate prison escaped and kidnapped a Confederate soldier. The soldiers flew away in a hot air balloon that drifted across the United States and the Pacific Ocean, eventually dropping them off on a mysterious island. The castaways have numerous adventures and eventually meet Captain Nemo, who helps them escape the altogether dangerous island. Although Captain Nemo didn't make it out of the mysterious island alive, the soldiers wanted his dream of world peace to live on. Although the film was not shot in Florida, the marketing team from Columbia Pictures and the Price is Right team developed a catchy movie promotion, as they did in the fifties and sixties, and planned a whole show around the movie's release. The extravaganza of prizes during this time included a Rolls-Royce with a chauffeur, a Piper Caribbean Airplane, a Ferris wheel, and a submarine. They were even giving away business franchises during two seasons of the show. The following is a post by Chelsea Cornelius.
The Price is Right is basically an American past-time for all of us born in the 20th century. I'm sure if it is on a streaming service, the younger generation will be hooked just the same. The fact that anyone can win with a little luck or knowledge of everyday prices mixed with the charisma of Bob Barker made it television gold. Drew Carey is the new host, but the prizes still vary from household appliances to extravagant trips to Italy. But looking back into the archives, we found the show has a little-known part of Florida history in their prizes.
During the "Mysterious Island episode", a lucky winner would return home with a brand new two-bedroom home on their own private "Mysterious Island." Henry Freeman and his lovely wife took home this grand prize which came complete with their own dock and the most modern amenities available at that time. The island was located in the middle of Crescent Lake and wasn't completely given away. In fact, the island, which is still known today as the Price is Right Island, was owned by a real estate developer, Jake Ward. The home and a plot of land around the home were given to Bill Cullen (hosted the show before Bob Barker), who then gave away the large chunk of the island that sits in Flagler County on the show.
The Freemans, who were from New York, headed to their new island home and received all of the fan fairs, which included a ceremony, a private showing of the film, and the keys and deeds to the property. Columbia Pictures captured the whole shebang as promotional material and later used it to promote the movie. The Freemans, although excited about the initial prize, would never visit the island after their initial trip. Instead, they would later sell to Jake Ward. Ward had plans to play up the Mysterious Island angle and develop the entire island as a tourist attraction, but this sadly never came to fruition. Today the island is privately owned, and it remains a mystery if the current owners know its fascinating history. Photography provided by the the State Library and Archives of Florida, floridamemory.com or are public domain. Additional photo provided by Alexander Schimmeck(A).
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dreaming of home A
The following is a guest post by ATHENA SNOW, originally published on Blue Matter, the Coldwell Banker Blog.
Despite the current seller's market, nearly half of American homeowners (46%) are unsure of the current value of their home. This is according to the latest Coldwell Banker survey, which launched alongside a refreshed ColdwellBanker.com and the newest "Dream" ad campaign. Part of the brand's 2022 Seller Strategy, this campaign will give potential home sellers the tools and help they need to navigate today's market – and to dream big. The Dream ad campaign aired on March 15th during March Madness and featured an unveiling of ColdwellBanker.com and three new Coldwell Banker products: C.B. EstimateSM, Move MeterSM, and the Seller's Assurance Program. Paired with the brand's 100,000 world-class agents, these products help ensure that Coldwell Banker Real Estate is delivering something for every step of the seller's journey, from inspiration to action.
Coldwell Banker Real Estate LLC, a Realogy (NYSE: RLGY) company, commissioned the survey conducted online by The Harris Poll to understand the ways Americans assess their real estate dreams and what support they value during the selling process. Findings include:
Opportunities for home sellers are ripe as the COVID-19 pandemic has made younger generations more likely to think about pursuing their dreams, and for some, this includes homeownership. Over a quarter of Americans (29%) who experienced the pandemic – especially Gen Zers and Millennials – are more likely to think about pursuing their dreams.
·Pursuit of happiness:
39% of Gen Zers (age 18-25) and 41% of Millennials (age 26-41) say they are much or somewhat more likely to think about pursuing their dreams (e.g., making a housing move, pursuing a passion project, making a career change, expanding family) after experiencing the COVID-19 pandemic.
·Location, Location, Lifestyle: When it comes to home, more than 4 in 5 Americans (87%) say it is important to them that the location of their home (rural, suburban, or urban) aligns with their lifestyle.
·Dreaming about everywhere: Not all Americans agree on what the ideal dream home looks like. Top dream home locations include: · A location with warm weather (33%) · Suburbs with ample space (28%) · Remote and off the beaten path with a large plot of land (25%)
Americans need help selling and finding their dream home.
According to this survey, nearly half (46%) of American homeowners say they are unsure of the current value of their homes. That number increases to 52% among Gen Z homeowners and 54% among Millennial homeowners. With the new C.B. EstimateSM tool, Coldwell Banker is making it easier to find out what a home is worth with a free and instant online estimate. Sellers can browse at their own pace without having to fill out a form or provide data.
What's more, sellers still have the upper hand as two-thirds (67%) of Americans have not yet found their dream home. That proportion is even higher among Gen Z (72%) and Millennials (75%).
Many Americans use home price estimate calculator tools as a first step in selling a home.
More than a third of Americans (35%) would go to a real estate website with a home price estimate calculator tool as their first step to sell their home if they were looking to sell, and younger Americans are more likely to take this as a first step versus using a real estate agent. The new C.B. EstimateSM and Move MeterSM tools will help kickstart the process of a home evaluation. From there, Coldwell Banker Vanguard Realty agents are ready to take a sale to the next level – by getting the most for a customer's current home and bringing them one step closer to finding that dream home. In fact, Coldwell Banker affiliated agents have achieved a 20.7% higher U.S. sales price than the National Association of Realtors® on average.
· Online shopping: If they were looking to sell a home, more Gen Z (ages 18-25) and Millennials (ages 26-41) would go to a real estate website with a home price estimate calculator tool as their first step to sell their home (44% and 43%) versus contacting a real estate agent directly (30% and 35%).
But when it comes to selling a home, agents are still key.
Proving just how valuable a human approach is to the selling process, 60% of Americans would trust a licensed real estate agent to accurately estimate the value of a home more than an online valuation tool. That's why Coldwell Banker's Estimate tool is designed to be paired with one of our star agents, who can verify a home's true value.
·License to sell: Nearly half (45%) of Americans say if they were going to sell a home, contacting a licensed real estate agent directly would be their first step.
"The stakes are high in today's housing market. And Coldwell Banker is committed to being there for home sellers when they're ready to list, from our top executives to each and every local agent. We've been guiding consumers home since 1906, innovating each year to give them the tools, knowledge, and advice to sell successfully. We're here for them in 2022 with an all-new website and online tools to make sellers feel better prepared and confident when matching with a Coldwell Banker agent who will make their dream homes a reality." - Ryan Gorman, CEO of Coldwell Banker Real Estate LLC
The "Great Resignation" continues to impact home. Compared to a fall Coldwell Banker survey, people are increasingly willing to take a pay cut or accept a new job with a lower salary if it means moving to a more affordable location. Thanks to the "Great Resignation," the movement of people leaving the workforce during the pandemic, Americans feel empowered to make these moves. In fact, housing affordability and cost of living are factors that are important to an overwhelming majority of Americans when considering a move to a new location.
·Employed Americans are increasingly willing to take a pay cut or accept a new job with a lower salary in order to move to a more affordable location: The percentage of those willing rose from 41% in October 2021 to 46% in February 2022. A significant increase (21% change) was seen among employed males aged 18-34 (43% to 64%).
·Getting out of town: Of American homeowners who plan to sell their home in the future, 44% plan to move to a different city or state. That proportion increases to 58% among Gen Z and 54% among Millennial homeowners who plan to sell.
Americans aren't moving on a whim, though. They value data that help them gain a fuller understanding of a new real estate market. ·Researching the right way: When considering a move to a new location, Americans say the following factors are important to them: · Quality of Life (lifestyle and/or environmental elements): 94% · Housing affordability: 93% · Cost of living affordability: 93% · Job market strength: 70%
With these desires in mind, Coldwell Banker Real Estate created the Move MeterSM – a proprietary tool built to help people dream differently by comparing various data points to evaluate a move from one place to another, including housing affordability, and quality of life, job market strength and living affordability.
When one is ready to sell, the Seller's Assurance Program, developed to make home selling easier and more rewarding than ever, articulates the seller benefits available through working with a Coldwell Banker affiliated agent to sell or list a home. The Seller's Assurance Program is intended to spotlight the tailored offerings each Coldwell Banker affiliated agent provides their clients. The Program may include services like 360° spotlight marketing to ensure a listing gets maximum exposure; buyer connections through tools like the brand's proprietary CBx Buyer Locater or Exclusive Look; staging or renovation services through products like RealVitalize®; moving support including discounts or other services; affinity services like title, mortgage, or insurance offerings; membership benefit programs like AARP® Real Estate Benefits from Realogy or Military Rewards programs; competitive cash offer products like RealSure®; luxury property marketing through Coldwell Banker Global Luxury® for qualifying listings; or, even charitable giving programs like the C.B. Support St. Jude program where an agent can donate a portion of the proceeds of a sale to St. Jude Children's Hospital. Check with your Coldwell Banker Vanguard Agent to see which unique seller offerings are available to you. Reach out to your Coldwell Banker Vanguard Agent to see the current worth of your home, find out all the information and prepare for your next move to your dream home.
According to our latest survey conducted by The Harris Poll, 46% of American homeowners say they are unsure of the current value of their home. Ready to learn yours? Visit cbvhomesearch.com & kickstart a move to your dream home.
Photography provided by the Coldwell Banker Dream Campaign.
PANTONE'S Color of the Year: MEET VERY PERI A
The following was originally published on A Look Into Luxury Home and Style, the Coldwell Banker Luxury Blog.
Spring is in the air. What better time than to explore the Pantone's 2022 Color of the year, Very Peri. Periwinkle is a trailing plant used as a groundcover and features blooms in lavender-blue. Periwinkle is also the name of Tinkerbell's sister in Disney lore. And now, periwinkle is the inspiration for Pantone's 2022 Color of the Year. PANTONE 17-3938 Very Peri is a striking periwinkle blue hue with a "vivifying violet-red undertone" that creates an "empowering mix of newness," said Pantone. In fact, the 2022 choice breaks the Color of the Year mold in this regard; instead of drawing from Pantone's extensive color catalog, the company came up with something entirely new for 2022. B
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“Creating a new color for the first time in the history of our Pantone Color of the Year educational color program reflects the global innovation and transformation taking place,” said Laurie Pressman, Vice President of the Pantone Color Institute, in a news release announcing the color. “As society continues to recognize color as a critical form of communication, and a way to express and affect ideas and emotions and engage and connect, the complexity of this new red-violet infused blue hue highlights the expansive possibilities that lay before us.” As the company has done for several years—Last year’s dual choices, Ultimate Gray and Illuminating evoked “deeper feelings of thoughtfulness and optimism,” while 2020’s Classic Blue represented strength and reassurance—2022’s color choice reflects the state of the world.
“Very Peri is a symbol of the global zeitgeist of the moment and the transition we are going through,” said Pantone. “As we emerge from an intense period of isolation, our notions and standards are changing, and our physical and digital lives have merged in new ways. With trends in gaming, the expanding popularity of the metaverse, and the rising artistic community in the digital space, PANTONE® 17-3938 Very Peri illustrates the fusion of modern life and how color trends in the digital world are being manifested in the physical world and vice versa.”
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But how does that translate to design? Very Peri likely lends itself best to accessories and accents, where its “carefree confidence and daring curiosity” can thrive. The company asserts that the color is “evocative of new modernity and injects a sense of playful freshness into home interiors," and…we agree.
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How about a statement sofa for a vibrant touch? A set of richly hued vases? Or a perfect set of pillows that pairs its dreamy hue with a muted gray bedspread. These are just a few ways to incorporate Very Peri into your home without overwhelming it with pastel purple. Lavender is definitely having a moment, so the options are ever-increasing. Consumer and design trend authority WGSN, and Coloro, a global color expert, expect Digital Lavender to be at the forefront of design in 2023 and 2024. “With a holistic overview into wellness, designing for emotion will be key. Consumers will need to feel supported while building their vision of the future,” said Joanne Thomas, Head of Content at Coloro. Want to immerse yourself in the Very Peri experience before bringing it home? Pantone will bring an immersive color installation to a 100-year-old boiler room beneath the Chelsea Market in New York in 2022. This ongoing collaboration with Pantone will “produce a visually and audibly compelling immersive digital experience incorporating rich textures and images of the color to celebrate the unveiling in an innovative way for the 21st-century audience,” they said. Whether you jump all in with this year's color or dip a toe in with a pillow, have fun with this bold, digitally inspired hue. Photography provided by the following in order of appearance. Pantone (A), Curology(B), Sidekix Media(C), Neonbrand(D), Max Harlynking (E), Xie Yujie Nick(F), Nathan Oakley (G), and Pickawood(H).
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G
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Market Update March 2022
March 2022
$340,600 March 2021
$273,000
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, "Although sellers remained firmly in the driver’s seat as the first quarter of 2022 came to an end in March, several factors point toward a more moderate and stabilizing real estate market in Northeast Florida. The sellers’ market continues to be buoyed up by a restricted active inventory of single-family homes, condominiums, and townhouses on the First Coast." “This is in line with a normal uptick of new listings hitting the market in the spring season. This trend should continue over the next several months, which will make it a little easier for buyers to find a home that meets their needs.” Rosener said the additional inventory may be due to older millennials seeking to improve on their residences.
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?
Your Coldwell Banker Vanguard Agent would love to discuss your real estate needs. This is your time to capitalize on your return on investments(ROIs) and reach their fullest potential in this historic
www.CBVHomesearch.com
HELP YOUR
Kids
& GARDEN
Grow
The following is a post by Chelsea Cornelius.
It’s the perfect time to start your garden at home before the sweltering summer heat sets in. Don’t go it alone. Enlist the kiddos to help you create an outdoor or indoor garden this year. Their age will dictate the activities you choose to focus on; letting them enjoy and learn about plants, dirt, and bugs can be a wonderful thing.
ALL PLANTS COME FROM SEEDS. Starting with the basics of planting seeds with your little ones is perfect for springtime. Put in the grunt work to make your outdoor garden space ready to go for planting. Then pick a range B of seeds that will both grow well under any condition and be manageable in their tiny fingers. Experts recommend using pea, bean, sunflower, lettuce, radish, and nasturtium seeds to start. These are all well-tempered plants that will likely grow fast enough to hook the kids on gardening.
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HOME-EDIT STYLE YOUR GARDEN. The rainbow is both aesthetically pleasing and kid-friendly. Choose it as the theme of your garden, and let the kids help you select plants for each color. This both helps the kids learn colors, and the colors bursting through the ground will create a lovely rainbow in your backyard. You could also go with another theme to engage the kids’ interest, like a zoo garden (all plants animals would eat), a pizza garden, and a sensory garden (soft plants and strongly scented leaves.) Choosing a theme gives them a sense of pride, and there is also the added possibility they might try the veggies they grew themselves.
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INSIDE GARDENS TO GET IN ON THE FUN.
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Getting outside may either be one to time-consuming or two not be your jam. If indoors are more your speed, you can help your nature lover use their green thumb indoors, too. Lots of veggies and fresh herbs can be grown inside. You can plant thyme, parsley, cherry tomatoes, and microgreens that will all grow well indoors. Create a small potted garden on a window sill or create a wall installation that creates a beautiful design aesthetic.
HERE COME THE WATERWORKS. E
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The importance of water for plants is pretty cut and dry. Explaining this to the kiddos and letting them take part in the watering of the plants is great for all ages. They will be able to see the daily progress of their plants and enjoy the responsibility they have taken on too. As the kids get older and the sophistication of your garden grows, you can move on to improving the garden to capture more water in the soil and other activities like building a rain collector to use in the garden. 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).
GUIDING
YOU HOME
Since 1906
“Where flowers bloom so does hope” -Lady Bird Johnson With spring well underway, the return of life, and seeds being planted both in the garden and in our own daily lives, the concept of hope is top of mind. CBV Cares selects local charities focused on bringing hope and support to all those they help. The Coldwell Banker Vanguard Realty Offices have been busy planting their seeds of kindness in our community through donations, volunteering, and fundraising. It is great to see all of their CBV Cares efforts blossom over the last month. The Avondale Office donated funds to Sanctuary on 8th Street at the 2022 Avondale 5K Classic, which benefited the non-profit. Sanctuary on 8th Street is a catalyst for expanding opportunities for children and families in need through education, social services, recreation, and the arts. They provide after school and summer programs to kids living on the Eastside of Jacksonville.
Fleming Island/Oakleaf Office donated funds to Gianna’s Path of Love this past month. The non-profit exists to preserve and enhance life for children with disabilities and their families. The way they do that is by providing necessary equipment, ramps, wheelchair-accessible bathrooms, lift systems, wheelchair vans, and more to needy families. Gianna’s Path of Love was inspired by Gianna, herself, and the needs of her family that insurance did not provide.
The Fleming Island/Oakleaf Office has also been busy planning their upcoming BIG HEARTED BINGO event which will be held Tuesday, May 3rd. Event details are to the left and all proceeds will go towards helping Northeast Florida charities.
The Ponte Vedra - Beaches Office's agents, Carole and John Bayer and Peyton Stockton took part in NEFAR's Builders Care of NEFBA event. The event was a collaborative effort to build a much-needed wheelchair ramp for two wheelchair-bound Jacksonville residents. One of whom was an amputee who recently suffered a heart attack. The agents took part in building the ramp as well as revitalizing the exterior of the home. The Ponte Vedra - Beaches Office is also looking forward to helping the upcoming NEFAR project, which involves teaming up with local non-profit, Rethreaded. Rethreaded is an organization that provides crucial jobs to human trafficked victims. The event will be a collaborative effort to deconstruct old airline seats so that materials can be repurposed. Rethreaded repurposes the materials in the creation of a variety of their hand-crafted goods. 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.
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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