Florida Tops in the U.S. for Cash Sales of Homes in July

16 10 2014

Florida had the largest share of cash sales of any state in July, with 49.7 percent, a new report from CoreLogic shows.

For the United States as a whole, cash sales made up 32.9 percent of total home sales in July, the lowest share since August 2008 and down from 35.9 percent in July 2013.

Besides Florida, other states with the largest percentage of cash sales included Alabama (47.6 percent), New York (44.5 percent), West Virginia (42 percent) and Idaho (39.9 percent).

Of the largest 100 core based statistical areas measured by population, West Palm Beach-Boca Raton-Delray Beach had the highest share of cash sales at 57.9 percent, followed by Cape Coral-Fort Myers (57.3 percent), Miami-Miami Beach-Kendall (56.5 percent), North Port-Sarasota-Bradenton (55.8 percent) and Detroit-Dearborn-Livonia, Mich. (55.8 percent).

Washington-Arlington-Alexandria, D.C.-Va.-Md. had the lowest cash sales share at 15.4 percent.

Source: Jacksonville Business Journal.





Ponte Vedra Dominates Priciest Home Sales in Second Quarter

13 10 2014

The second quarter of 2014 saw a number of multi-million dollar home sales in the Jacksonville area, with the majority of them in Ponte Vedra Beach.

The top sale of the quarter was a 4,200-square-foot home in the 800 block of Ponte Vedra Beach Boulevard, and nine more of the top 20 sales were nearby

Together, the 20 homes sold for just over $49 million, with the average price of the list around $2.5 million.

As well as Ponte Vedra Beach, the other waterfront areas of the region — not surprisingly — helped fill out the list, with Jacksonville Beach, Atlantic Beach and Fernandina Beach all snagging spots. Jacksonville proper had three homes on the list.

Source: Jacksonville Business Journal





Augst Home Prices Up 6.4 Percent Over Last Year

8 10 2014

Home prices continued the annual gains in August but have appreciated at a slower pace since hitting a peak a year ago.

CoreLogic, which tracks data on the housing market, reported that prices rose 6.4 percent in August compared with the same month a year ago, representing 30 months of year-over-year increases.

Home prices hit a high of 12 percent year-over-year in October 2013 and has been dropping since then.

“Continued moderation of home price appreciation is a welcomed sign of more balanced real estate markets and less pressure on affordability for potential home buyers in the near future,” Fleming said.

Prices were up 0.3 percent in August over July.

At the state level, including distressed sales, all states showed year-over-year home price appreciation in August.

Prices reached new highs in nine states — Alaska, Colorado, Iowa, Louisiana, Nebraska, North Dakota, Oklahoma, Texas and Wyoming — plus the District of Columbia.

Excluding distressed sales, home prices nationally increased 5.9 percent in August compared with the same month a year ago and 0.3 percent on a monthly basis.

Also, taking out distressed sales, 49 states and the District of Columbia showed year-over-year home price appreciation in August, with Mississippi being the only state to experience a decline (-1.7 percent).

CoreLogic’s forecast shows that home prices, including distressed sales, will increase 0.2 percent from August to September and by 5.2 percent from August to August 2015.

“Home prices continue to rise, albeit more slowly, across most of the U.S.,” said Anand Nallathambi, president and CEO of CoreLogic.

“Major metropolitan areas such as Riverside and Los Angeles, California, and Houston continue to lead the way with strong price gains buoyed by tight supplies and a gradual rebound in economic activity.”

Source: CoreLogic

 





Twenty Mile at Nocatee

24 09 2014

Inspired by history, Twenty Mile will be Nocatee’s newest and most distinctive community featuring large oak trees, split-rail fencing and a rustic, old-Florida style. Set on the largest lots in the community — all with views of the nature preserve or the lake — homes in Twenty Mile will be up to 6,000 square feet with prices starting at $400,000.

The name of the community refers to its location, the halfway point in the 40 miles between St. Augustine and Fort Caroline. Spanish Admiral Pedro Menendez de Aviles first blazed a path in the area in 1565, as he and his men marched 40 miles from St. Augustine to claim Fort Caroline from the French. In the 1700s, a military outpost known as Twenty Mile House was established, serving as a “half way” station for soldiers and travelers.

The price point is a change when compared to the last several announcements. Although Nocatee has offered homes priced from $200,000 to more than $1 million in the past, many recent Nocatee additions have been lower: Willow Cove, a Nocatee community announced in 2012, started at $170,000 for a 2,100 square-foot townhome and more recently, Addison Park prices for 1,600- to 2,900-square-foot single-family homes started in the low $200,000s.

Part of PARC Group CEO Rick Ray’s approach to Nocatee, he said, has always been to monitor demand is and then fill the areas slated to become neighborhoods with where the demand is in real time.

Ray said Twenty Mile will be one of Nocatee’s most distinctive communities, featuring large oak trees, split-rail fencing and a rustic, old-Florida style.

The two new neighborhoods are the latest in a series of additions to Nocatee, including new neighborhoods — Greenleaf Lakes, Siena and Cypress Trails — and a kayak launch site.

Source: Jacksonville Business Journal





The Energy Hua Hin oceanfront condo in Thailand

10 08 2014

The Energy Hua Hin CondoNew oceanfront condo project in Hua Hin, Thailand priced from the USD $50K. Project is under way and Phase 1 and 2 are expected to complete in 2015. The Energy will endlessly recharge and revitalize residents through the natural beauty of Hua Hin Beach in a town with intriguing historical sties and access to every convenience of modern life. The Energy is a home where everyday is a holiday.

Every building at The Energy Hua Hin has been meticulously designed to blend Colonial architecture with modern functionality. The project offers a new way of living by catering to urban dwellers in an ambience that charmingly evokes another era gone by.

The Energy Hua Hin condos comprise eight-story low-rise buildings angled to catch cool sea breezes while providing great privacy. Each unit is ready to move in, being fully furnishes in a vintage style with all the comforts required by modern urban dwellers. Amenities include a 5-star hotel reserved for residents’ guests only, 10,000 square-meter (approx. 100,000 S.F.) sports complex with Thailand’s first virtual reality game dome, infinity edge swimming pool, squash, bowling, tennis, badminton, pool table, table tennis, sauna, jogging, and more.

Hua Hin is among Bangkok residents’ favorite destinations for a relaxing weekend, being just a two-hour drive from the capital city. The small town, with its distinct style that combines classical and contemporary architectural designs, exudes a timeless charm and an aura of happiness that repeatedly draws visitor back.

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New Home Sales Increased 6.4% in April

23 05 2014

Sales of new homes increased by 6.4 percent in April to a seasonally adjusted rate of 433,000, according to the U.S. Census Bureau.

Sales of existing homes also increased last month, but only by 1.3 percent, according to the National Association of Realtors.

Put the two reports together, and it’s an encouraging sign that housing has shaken off its winter-induced doldrums. But sales of both new homes and existing homes were below what they were in April 2013.

Lawrence Young, chief economist for the National Association of Realtors, expects total home sales for 2014 as a whole will be below what they were in 2013, primarily because of the “sluggish first quarter.”

The average price for a new house sold last month was $275,800, according to Census Bureau.

The median price for an existing home in April was $201,700, according to NAR.

Mortgage rates are trending down, but they’re still higher than were a year ago. The average 30-year fixed-rate mortgage was 4.14 percent with an average 0.6 point this week, according to Freddie Mac. A year ago, the rate averaged 3.59 percent.

Source: Jacksonville Business Journal





Residential Real Estate Price Growth is Strongest Since 2005

4 02 2014

Home prices — both nationwide and in Jacksonville — are on the rise, according to a report from CoreLogic.

Across the United States, home prices have increased 11 percent from December 2012 to December 2013, including distressed sales.

The CoreLogic Home Price Index report on Tuesday reported the 22nd consecutive monthly year-over-year increase in US home prices based on Multiple Listing Service data.

In Jacksonville, home prices increased 9 percent including distressed sales and 11.5 percent when distressed sales are excluded, on a year-over-year basis.

Sales jumped 1.5 percent from November to December.

The CoreLogic report follows a report from RealtyShack showing an increase in home flipping.

See the full CoreLogic report here.

Source: CoreLogic and Jacksonville Business Journal








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