Molly Thompson

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My Blog

WHAT'S The update in St Johns ?

5/10/2022
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A look at the Market !

5/10/2022
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Pending or Contingent?

4/20/2022


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Each home listing has a status that’s updated by information that the listing agent feeds into the multiple listing service (MLS). A home listed contingent or pending are under contract, but there’s still a chance for you to buy it.

Most purchase offers for the buyer to back out if they can’t get financing, the home doesn’t pass inspection, or the home price doesn’t meet appraisal. In some cases, the listing agent will update the listing with showing instructions, according to Rocketmortgage.com, such as:

Contingent - continue to show (CCS), the seller wants to pivot to a backup offer is the buyer can’t perform.
Contingent - no show, the seller believes the buyer will have no problem removing the contingency.
Contingent - with kick out, the buyer has a limited time to remove the contingency or risk the contract being voided.
Contingent – probate, a deceased homeowner’s assets are going through the probate process, so the home may not be available for purchase for some time.

When a listing is pending, the contract is closer to closing, but there are exceptions:

Pending- taking backups, the seller is accepting backup offers in case the buyer can’t perform.
Pending- short sale, the mortgage holder has been asked to take less money than the seller owes on their mortgage.

As Your Berkshire Hathaway HomeServices franchise network professional I can advise you about your chances.
In a hot market with low inventory, shopping contingent or pending homes could be a great way to make offers with less competition.

October 2012 Beaches Market Update

11/14/2012

Residential Recap: New listings introduced to the market are up 28% year over year.  Residential sold listing are up 31% from one year ago!  The selection of available homes at the beaches continues it's downward trend.  The total active listings at the beaches is lower by 25% from the same time last year.  The months of listing inventory is down to just over 5 months.  We now consider this a balanced market, neither a buyers market nor a sellers market.  If this downward trend of available homes continues, it will soon be a seller's market and we will again see prices begin to rise.  Just six months ago our listing inventory of available homes was 825 units. AMAZING!

Condo Recap:  Remember when, just a short time ago, you couldn't give a condo away?  Well, those days are gone.  We have seen a huge increase in sold condos for October 2012, up 61% from last October!  New listings coming to the market in October show a drop of 26%, and total active listings are down 24% year over year.

With a volative stock market, many people are turning back to real estate. Call me, I am happy to assist you with all of your real estate needs.

Jacksonville & Beaches: Fl's least Hurricane Prone Coastal City

10/28/2012
With hurricane Sandy well to the north of us today, I am reminded that many of my relocation clients are not aware that the greater Jacksonville area is the least hurricane prone coastal city in Florida.

Due to our unique geographic location , an indentation of the continent helps to protect us from hurricanes as they travel the Gulfstream up the east coast.  Hurricanes generally follow the path of the Gulfstream. We are located over 80 miles west of the Gulfstream, compared to Miami, which is only 3 miles west of the Gulfstream, thus it becomes obvious why southern portions of Florida have a much higher threat to hurricanes.

The western side of a hurricane is always the weaker side.  Again we are more fortunate being on Florida's east coast.  We may experience some high winds and tides, as we did yesterday, but these are less damaging than a city on Forida's west coast.

For more information check out the US Weather Service maps.

1204 Turtle Hill Circle, Ponte Vedra Beach, Fl

10/23/2012
As a member of the prestigous Prudential Relocation Team, I am often encountering buyers who want to live close to the beach.  This home at 1204 Turtle Hill Circle, in the community known as Turtle Shores, is within a short walk to the ocean and you have your own private beach access and cabanna.  Turtle Shores is a gated community with luxury ammenties such as community pool, tennis courts, a club house, playground and excersize facilities.  The home itself has an amazing screened pool and hot tub surrounded by a bi-level pavered deck.  Inside you will find 5 bedrooms, 2 1/2 baths, and views from the kitchen, living room and family room that will knock your socks off.  Since the home is located on one of the highest elevations in the area you can see miles and miles of the Intracoastal Waterway.  The floor plan is very open and has amazing archectural features such as differing ceiling heights, crown moldings, wainscoting, and expansive arched windows. Of special interest is the beautiful wood floor and shellstone fireplace in the living room.  Combine all the above features and add in surround sound, custom closets and an oversized garage and you have one terrific home.  This home has just received a price reduction to $449,950.  That is $75,000 in savings compared to a recent sale in the community.  Please look at this home on my website using MLS # 635091.  Call me I'm more than happy to show you this home. 

Beaches Market Update Sept. 2012

10/19/2012
The home and condo sales at the beach are a reflection of what we see nationally, real estate is rebounding. 

Residential:   In September we had a 38% increase in sold listings over Sept. 2011!  Inventory continues to decrease with a 28% drop in active listings from last year.  Amazing is the months of listing inventory, down a whooping 56%, to just over 5 months.  These numbers indicate a balanced real estate market. 

Condo's: also showing strength with a 24% drop in active listings year over year and new listings to the market are down 6%. Total sold units in Sept at 38, with total active listings at 255 if the trend continues inventory will be below 200 units in 6 months.  Two years ago active condo listings were nearly double what they are today! This shows condo supply is dropping and demand has remained consistent.

Income Producing Property Jacksonville Beach

10/7/2012

An amazing deal for the astute investor in today's market.  This property produces $44,700 of gross income per year, and  is located in the sweet spot of South Jacksonville Beach, only one block to the ocean.   There are a total of 4 apartments in two buildings with a court yard seperating the buildings.  Parking is always an issue in South Jacksonville Beach, but not for this property.  There is onsite parking for 6 cars, plus a garage.  The neighborhood is comprised of well maintained properties as well as new construction.  In fact, the property immediately to the west of this property is owned by a developer who plans to build a new single family residence and will price it in the high $400's.  The seller has upgraded and maintained this property since he originally purchased it back in the 80's.  With a terrific rental history and investment property gaining value, don't miss out.  The MLS number is 630406, the address is 117 8th Ave. So., Jacksonville Beach.  Call me, I'll be happy to show you around.

HGTV Building First Smart Home in Jacksonville Beach

9/20/2012

Jacksonville Beach, Fl is about to get a lot of national attention.  HGTV is building it's first smart home in a cozy seaside community located about 4 blocks from the beach.  In the past HGTV built Dream Homes with values exceeding $1 million dollars.  While the value of the smart home has not been formally announced it is estimated to be in the $800,000 range. Construction is to begin anyday with estimated completion in January. The network's special on the home will begin will air in the spring and then the sweepstakes begin.  The sweepstakes winner is given the home, so be sure to enter often.

As more information becomes available I will post it in my blog.
 

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