Unemployment rising on the First Coast

As with everywhere else in the country, jobless claims are rising, Jacksonville.com
released an article recently where the jobs are being lost here in Jacksonville.
Click here to read the article

Mayport getting a new carrier

The Navy announced yesterday that a carrier will be coming to Jacksonville within 5 years.
The impact of this could not come at a better time for Jacksonville, with our banking sector jobs hanging in the balance at Fidelity and Citi, this will be a boon for our local economy and housing market.
A new carrier to Jacksonville will bring with it a minimum of 10,000 local jobs. (Let's say that only 1/2 buy a home, that would still cut our housing inventory in Northeast Florida by 1/3!) The housing for these jobs will most likely be found in Northeast Jacksonville, Mayport, Arlington, Fort Caroline and the Southside.
The Northeast Jacksonville area is one of the hardest hit from the housing downturn with overbuilt neighborhoods by all of the suspect large builders (DR horton, KB etc.)
For those of you in the Victoria Lakes, Dunns Creek plantation and other large neighborhoods, try and hold on until these jobs starting coming to town to sell your home. Many in this area are in huge negative equity positions, and that won't change overnight, but there is a glimmer of hope for your neighborhoods that was unable to be seen until yesterday.

On a realistic note, I spoke with someone in the know who said that getting a carrier here would cost 400 million+ dollars, not including the dredging. That's a lot of money for the gov't to throw around at the moment,so hopefully we won't see any backtracking on the Navy's part, but I would keep a leveled head until work begins on preparations.

If you would like some ideas on how to make this new development profitable to you in the local real estate market we would be more than happy to discuss options with you.
Feel free to contact our local real estate team at 904-260-3787

Lease back a model home from a builder?

While it's not a common used practice, it is possible in many cases.
I found a pretty good article on the do's and dont's of leasing a model home back to a builder.
Click Here to read the artilce


If you think doing a lease back to a builder in Jacksonville would be a good fit for your needs, contact our re/max real estate team at 904-260-3787 and we can help you.