We Are Here For You Yes, things are different for all of us but our commitment as a company, and our team commitment as your home lender is still the same.
Let’s Inspire Hope , Deliver Dreams and Build Prosperity Together. Our entire Academy team is here to deliver First Time Homebuyer Programs, P Conventional, FHA and VA Programs to serve our community during this time.
We are available by phone, my mortgage app (https://mobile.academymortgage.com) or FaceTime to complete applications with customers.
Our thoughts continue to be will all of those who are impacted and we want our customers to know – we are here to help. We are available by phone, my mortgage app (https://mobile.academymortgage.com), or FaceTime to complete applications with you.
THIS IS OUR COMMUNITY - WE ARE COMMITTED TO SERVING IT TOGETHER.
Lisa Daniels, Loan Offcer - C: (904) 219-1417 NMLS # 453340 l State Lic FL #LO32787 Nancy Blacker, Loan Offcer - C: (904) 614-6952 NMLS # 597437 l State Lic FL #LO11538
Teechee Buhnerkemper, Loan Offcer - C: (904) 647-1777 NMLS # 459860 l State Lic FL #LO44904
Julie Grandy, Loan Offcer - C: (904) 866-7050 NMLS # 179973 l State Lic FL #LO24560, GA #65229
Rachel Rogers, Loan Offcer - C: (904) 334-5965 NMLS # 177092 l State Lic FL #LO44822
In Your Corner
WHY HOME STAGING WORKS.
Community Property
CATTY SHACK RANCH WILDLIFE SANCTUARY
Market Update
CURIOUS IF PRICES ARE UP? WHAT’S THE MARKET DOING? WE’VE GOT ANSWERS!
Feature
SIX REALITIES BUYERS AND SELLERS SHOULD PREPARE FOR It’s important to remember that everyone has to live somewhere. Our homes have never been more important to us than right now
CBV Cares
LEADING THE WAY IN OUR COMMUNITIES
Living Large
OUTDOOR SPACES MAKE HAPPY PLACES
©2020 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.
Why Home Staging Works
Staging your home can help make your home look its best during the sales process, showcasing its strengths and potential to buyers. “By dressing up the rooms in a way that tells a story, we create a first impression that makes your property more attractive to prospective buyers,” explained Carla Reed, of Carla Reed Lifestyles. “When people like what they see in the listing photos online, it leads to more viewing appointments which increases your chances to sell the house faster.” Data from the National Association of Realtors (NAR) shows that 40% of buyers’ agents cited home staging having a positive effect on most buyers’ view of the home. Reed agrees, particularly when the market is competitive. “Sellers should always be looking for ways to gain an edge over the competition,” Reed said. ”Thanks to reality television, buyers expect to see homes that are decorated on trend and in a way that helps them envision themselves living there.”
Some realtors offer staging as part of their services, while others hire professional stagers so there’s a true “disconnect” with the emotion that sometimes comes with selling a home. Having an objective third party handle the staging allows your home to be presented in a way that is more attractive to a larger audience. Staging costs (either a flat fee or a percentage of the listing price) are often built into the back-end of the deal, and are paid at closing, so there’s no outlay of cash up front. According to the Real Estate Staging Association, homes that are staged before going on the market sell 73% faster, on average, than their non-staged counterparts. When staging a home, Reed recommends looking at it as an investment. “You may get
Before staging.
But what if you’re still living in your home while it’s for sale? It may be even more important to stage certain rooms, while also being more cost-effective that renovations or physical upgrades. “Home stagers will arrange what you already have in your home, and carefully bring in curated décor items,” Reed explained. “We want to focus on creating a flow throughout the rooms using either color or specific elements that convey a particular feeling or emotion.” A recent NAR report shows that the living room, master bedroom and kitchen are the most important rooms to stage, with the guest bedroom being the least likely to impact a potential sale.
Before staging.
Reed shared a recent story about a client in Jacksonville Beach. “I had a realtor call me and ask if I would stage a condo at Jacksonville Beach, in hopes of a quick sale,” Reed said. “Two days later, we were loading in furniture. It wasn’t a large condo so we had to be very careful which pieces to use and the placement of the furniture, but when we were finished, the home looked amazing. Two days later, the realtor called and said there were four offers (including two cash offers) and one was accepted.” Successfully staging a home doesn’t guarantee a higher sales price or a quicker sale, however it certainly does improve its online presentation, which sets it apart from others. Ask your Coldwell Banker Vanguard realtor if staging your home is right for you.
Before staging.
a higher offer with a staged home, than if it were not professionally staged,” Reed said. “You never get a second chance to make a first impression and you can very possibly get a quicker sale.”
The Tiger is King
Home. It’s never been so important. And all creatures, whether the human variety or the animal kind, deserve a home of love, compassion and kindness. Coldwell Banker Vanguard is an equal-opportunity supporter of all creatures, and this month, we’re introducing you to an incredible community property in Jacksonville, Catty Shack Ranch Wildlife Sanctuary.
The mission of Catty Shack Ranch is to provide a safe, loving and forever home to endangered big cats and to educate the public about their plight in the wild and in captivity. Its primary focus is in the rescue of exotic animals from serious situations. Once an animal arrives at Catty Shack Ranch, they have a loving, forever home for life. The sanctuary does not breed, trade, sell, or buy any of its residents. Current residents include tigers, lions, pumas, leopards, lynx, foxes, and coatimundis (the last two species being “honorary cats”). A 501(c)3 nonprofit organization located on Jacksonville’s Northside, Catty Shack Ranch is recognized throughout the southeast as a top destination for many national and international visitors and is ranked as Trip Advisor’s #1 attraction in Jacksonville. Funding for Catty Shack is generated primarily from donations, fundraisers and entry fees. Though in-person tours are currently not operating due to Covid-19, the Catty Shack Facebook page has a full schedule of virtual events, including education sessions and nighttime feedings. If you’ve never seen a night feeding of tigers and lions, you’re in for a treat! Additional information on the organization and its programs, as well as online donation and volunteer information can be found at CattyShack.org.
6 Realities Buyers and Sellers Should Prep It ’s important to remember everyone has to live somewhere. Our homes have never been more important to us than right now.
Written by Cara Ameer, broker associate with Coldwell Banker Vanguard Originally published in Inman News and edited for space here
In a matter of days, life as we know has been turned upside down. The only normal is a new one. The experience of living through 9/11 and the economic crash of 2008 taught us just how quickly we abandon established routines in exchange for new ones. At one point in time, we could have never imagined the day where we had to show photo ID and boarding passes before going to our boarding gate — let alone stripping down to go through metal detectors. The acronym TSA was alphabet soup. During the financial crisis, watching long-time financial institutions crumble in the blink of an eye was inconceivable. We witnessed the house of cards coming down. So here we are. A new normal is creating itself once again. Hand sanitizers, disinfecting wipes, rubber gloves, masks, social distancing, hunkering down at home and an economy in turmoil. For people in the midst of trying to buy or sell a home, this is beyond an unsettling time — not only for them, but for all involved in the entire real estate process end-to-end. This means agents, lenders, title and escrow companies, attorney’s offices, inspectors, movers and everyone else in between. So, in light of recent events, here are six things every buyer and seller should know when it comes to transacting real estate during this tough time.
1. The buying and selling landscape has changed Buyers might feel that sellers and agents should be rolling out the red carpet for them to look at homes. Please understand that this process might not be as instant as it was last week or even two days ago. While just about every real estate company and builder is putting preventative procedures in place, please know that showings involve the risk of potential exposure to multiple other parties, as well as to the properties you’re seeing and those who live there. Not every seller or occupant may be comfortable with strangers going into their home. Your exposure becomes their exposure. You might be asked to remove shoes and wear booties, leave unnecessary items outside the front door, use hand sanitizer and anti-bacterial wipes, and refrain from touching anything in a private residence during a showing. While buyers might expect instant gratification with access to properties, patience is also a huge virtue for any seller trying to sell right now. We’re in unchartered waters when it comes to knowing what the pace of showing activity will be. That activity (or lack thereof) will be different for every seller, depending on price range, area and the level of risk where the property is located. Just because there haven’t been any showings in two weeks doesn’t mean there aren’t potential buyers for the home.
pare For
The good news? With everyone spending loads of time at home — most likely in front of a computer — anyone who’s in the market to buy a home will be searching online. Having a video posted with the listing will be key to generating a lot of interest on the property, as well as the ability to share that across various social channels. It’s possible to get an offer based on the video alone. If the property is empty, hosting virtual open houses are also a great way to invite potential buyers without physical interaction. If sellers are serious about selling, stay the course. With interest rates at an all-time low, there are buyers who will absolutely be taking advantage of favorable conditions to leverage their buying power. While it might seem like a desert as far as buyer traffic goes, once COVID-19 starts to wane, showing activity could bounce back with force.
2. The transaction will likely be socially distanced Agents will likely ask buyers to take their own car to meet at showings. If buyers are coming from out of town, encourage them to rent a car for their protection and the protection of their families (and your safety, too!) National Association of Realtor (NAR) guidelines have permitted agents to ask buyers and prospects about travel history and potential exposure to the coronavirus. The guidelines also permit asking if clients or anyone they’ve been with is sick or has a fever. Now is the time to be transparent. Clients shouldn’t shrug it off or take offense if being asked these questions by anyone involved in setting up a showing appointment — whether it’s their assistant, the listing agent or their brokerage. Under these circumstances, a seller has the right to understand the scenario of potential visits to their home. Open house events have largely been prohibited and severely frowned upon due to shelter-inplace orders. Where allowed, open houses are by-appointment-only and occur only after an agent has gone through a series of qualifying questions with the buyer prospect. Agents are simply not in a position to let somebody, anybody or everybody in a home for the sake thereof right now. This doesn’t mean they don’t want to sell the home. It simply means they have to be responsible about how they handle it. While no one likes the idea of lost income, the idea of losing a life is far worse than any economic impact. If agents meet clients at a home, they will be practicing social distancing. They might even have the home open for you to view while they stay outside. It might be best to engage in follow-up conversations via phone after the showing ends. Please also understand that open houses and broker caravan types of events are not being encouraged in this type of environment. The potential for liability exists, and it might not be long before we learn of COVID-19-related lawsuits that attempt to pin cause for exposure on a particular series of places or interactions that a victim had. If an agent is exposed in the course of showing a client’s home or hosting open houses, that will be of no benefit to that seller. Agents will not only jeopardize themselves, but also their families and their office, as well as the sellers, their family and their home. Clients should be considerate of their agent. They need to understand that real estate could be their agent’s only source of income, and the only way they can support themselves and their
family. They are in one of the most difficult professions from a compensation perspective even under the best of economic conditions. Agents only get paid if a transaction closes. That’s it and nothing more. There’s no office subsidy for your agent’s gas, signage, marketing materials, broker open events and everything else. The coronavirus pandemic is likely going to prolong the real estate cycle, and many agents could go without closings for months.
3. Now is not the time to try to take advantage Buyers might be tempted to throw out multiple low-ball offers at sellers to see what will stick. Buyers might feel as if they are entitled to a deal during these unusual circumstances. Stop. While they certainly can negotiate, trying to rub salt in the wound of what’s already a trying time will not be appreciated or celebrated. Don’t approach an offer with the intention of playing to a seller’s vulnerabilities or an overblown sense of despair in the market. Everyone is in unchartered territory, and this is an uncertain time on many levels. No one is exempt. Consider making a fair offer. You might be surprised to find that you will get further with a seller that way, versus starting ridiculously low and asking for pie-in-the-sky concessions. It could be that the seller responds in a pleasantly negotiable and flexible fashion, perhaps a bit more than they normally would. Buyers could get a reasonable discount from the asking price by taking a more level-headed and respectful approach instead of trying to squeeze blood out of a turnip.
4. Delays will inevitably happen Right now, life isn’t going according to anyone’s plan. Major life events such as graduations, anniversary parties, showers and weddings are being postponed or cancelled. Sadly, even celebrations of life due to a loved one’s passing can’t be held. The same is likely for a real estate transaction. Whether a buyer or a seller, help them understand that there may be delays with all facets of the transaction process as human interaction is compromised over the next few weeks or months. They’ll have to plan accordingly. Inspections, appraisals, loan processing and underwriting, as well as issuing the clear to close and getting the package from the lender to the title company, will be challenging during this time. Inspectors whose work can be potentially hazardous in the best of times have to take special precautions now like never before. Their job entails physically touching and testing numerous components in a home, many of which could be germ-infested. Appraisers also face a similar risk by having to physically enter numerous properties to do their job. A closing date is just that — a date. And while everyone can do their best to make that date, in this situation, we’re dealing with circumstances beyond anyone’s control. Buyers should allow themselves plenty of float time if they’re terminating a lease. It might be better to plan for an extra month or two to vacate their rental versus cutting themselves short. There could also be challenges encountered with hiring moving crews during this time. Also, buyers should be considerate of a seller’s request to lease back for a certain amount of days after closing. Before sellers try to move mountains to get their house packed up and vacate, they will want the comfort of being able to close on the home and have their proceeds securely in their bank account. Buyers and sellers need to be flexible and understanding with each other regarding obstacles out of their control during this time. To that end, addendums that address delays in transactions
due to the coronavirus have been released for use by various state real estate associations to help manage delays that might arise, as well as the need to cancel the transaction and etc.
5. Adjust your expectations We’re living in unpredictable times. No one has all the answers — and that includes real estate agents. While people are doing their best to obtain information and updates from their company’s real estate leadership, local, state and national Realtor associations, along with national, state and local officials, this situation is rapidly changing. What happens today might be drastically different tomorrow.
6. Accept that you might not have all the answers This one is tough. It can be easy to panic at the thought of the unknown. Will things get better after April when many of those “temporary” closures and lockdowns are supposed to end? Those are arbitrary dates and deadlines, and we don’t know if they will be extended. Real estate is a business based on results and outcomes. We use data to predict the future. We educate sellers that their home sale should take approximately x amount of days (or months) based on sales of other homes in the neighborhood. We also inform them that their property should sell around x percent of their asking price, based on what has happened over the last 60, 90, 120 days, etc. Achieving those same results might not be possible now or in the next few months, and everything is up for grabs. Whether you’re buying or selling, it’s important to stay flexible and focus on the process instead of the outcome. While things might appear to be doom and gloom right now, it could be a dramatically different and positive picture a few weeks from now. Sellers don’t have to suddenly pull their homes off the market. Buyers don’t have to abandon their property search right now. If you’re in a position to do so, put the current mortgage market to work for you. Never before have buyers been able to leverage their purchasing power, and for sellers, this same purchasing power may enable a buyer who is able to get into their first home, a move up property or their ultimate luxury dream home. No matter what, it’s important to remember that everyone has to live somewhere. Our homes have never been more important to us than right now. They are a place of solace, respite, work and the ultimate shelter from the storm — no matter what kind of storm that is.
Outdoor spaces make happy places
As we are all spending more time at home, a dedicated outdoor space for the entire family to enjoy can be a welcome addition to any property. Whether you’re looking to upgrade your backyard with native flowers and foliage to adding a soothing water feature to working with a professional design team on an outdoor kitchen, turning outdoor spaces to happy places can instantly lift your mood – and maybe even your property value. Earth Works, a Jacksonville garden center specializing in custom landscaping and water features, offers up some suggestions on how to create your own oasis..
Upgrades on a budget: • • • •
Perennial or butterfly garden Colorful pottery arrangements A patio pond Small water feature like a tabletop waterfall
Trends in outdoor spaces:
• Trees, trees and more trees. Think palm trees and citrus trees (bonus: fresh lemons and limes for your backyard happy hour) • Succulents are all the rage! These plants are hardy, and tend to thrive in harsh conditions, as well as being happy in smaller spaces. Perfect for indoors or smaller patios. • Accent boulders can turn a bland area into a focal point for your oasis. Available in numerous sizes, textures, shapes and colors, these oversized rocks can be featured in outdoor waterfalls or even used for seating.
Looking for a significant upgrade?
How about instead of going big or going home, how about going big AT home? • A paver patio with a fire pit adds that HGTV look to every backyard. Add some café lighting strung between trees and overhangs and you now have an Instagram-worthy space that’ll be the envy of your neighborhood. • Like to cook and entertain? Outdoor – sometimes called summer - kitchens are a great option. Not only does a summer kitchen reduce energy use, it minimizes odors and enhances flavors (think of that outdoor grill taste), while also creating another living area in your home. Homes with summer kitchens may also appraise higher than comparable homes in your neighborhood. • Design the space with ponds, waterfalls and lush, tropical landscaping. The soothing sounds of water create a relaxing atmosphere that everyone will enjoy year-round.
MARKET UPDATE
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omes for Sa H le of y r
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$149,999 or less $150,000 - $199,999 $200,000 - $299,999 $300,000 - $499,999 $500,000 - $900,999 $1,000,000 and up
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Kindness is a gift everyone can afford to give Coldwell Banker Vanguard agents demonstrate their commitment to our communities through their actions, day in and day out. When agents in our Fleming Island office learned of a significant shortage at the Food Pantry of Green Cove Springs, this dedicated group of professionals sprang into action, collecting hundreds of pounds of food in mere hours. Items were sorted and delivered to the Food Pantry within 48 hours of the call for help, with shelves being re-stocked and readied for those needing assistance.
Our Avondale office, located in the heart of historic Avondale on St. Johns Avenue, recently recognized the bravery and dedication of our healthcare workers by participating in Avenue of Stars, a visual salute to the many frontline workers who travel St. Johns Avenue on their way to and from area hospitals. Stars and signage were hung throughout the area to show our appreciation for these incredible heroes. We’re all in this together, and we continue to look for opportunities in the areas where we live, work and play to give back to those who are changing lives. If you have a favorite charitable organization, we’d love to learn about it! Please share information with your Coldwell Banker Vanguard agent and maybe we’ll see it on these pages soon!
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.
ONLINE CLOSINGS
The Future We Want But Don’t Quite Have As the weeks have continued during the COVID-19 outbreak, one thing that could help streamline closings is the emergence of Remote Online Notarization (“RON”) a/k/a online closings. The Act was passed effective in Florida on January 1, 2020 and like most new things, it didn’t quite take off. Most in this industry would agree that the ability to close remotely online from anywhere would be a huge value add, so what’s the holdup? The first issue arose when the title underwriters in Florida required that the notary conducting the online closing actually be in Florida. While there were thousands of notaries around the country that were licensed and already doing such closings, there was a delay in the notaries in Florida signing up and obtaining the right certifications. This started to see some progress near the end of the first quarter, but not at the volume needed to support nearly every title company in the state trying to use them in response to COVID-19. Thankfully, the underwriters eased this burden by issuing exceptions through the end of April to allow any online notary in the country to close Florida transactions.
lenders. The issue is not necessarily that lenders don’t allow online closings, but that their investors on the back end have pushed back regarding their willingness to purchase loans closed electronically. Most agree that online closings will become mainstream, so this will surely evolve, but more than likely it will be a slower process than what we all want. The middle ground has been a form of hybrid closing where the non-essential documents can be e-signed, and things like the note, mortgage, and deed are still “wet signed”. In theory this is better, but it still requires the title company, buyers, and sellers to coordinate some form of mail-away, or in-office signing. So, in all reality, it’s not saving as much time as it would appear to.
For the foreseeable future, I would tell realtors to find out which lenders accept E-Notes (notes signed electronically) and online closings, and advise customers accordingly. There’s really only one thing that will force financial institutions to change, and that is losing money. The beauty of capitalism is that the market dictates the offerings, and if lenders start losing customers because they don’t allow online closings, this issue could be So now what’s the problem? Well, in a word, resolved sooner rather than later. Chip Lynn, CEO/Managing Attorney • Chip@ClosingBear.com • (904) 738-1672 • www.closingbear.com