Labor day is already looming, and most children have returned to school by now. This is the time of year that real estate markets tend to start cooling off after the busy summer season as we begin the long march to the holidays. People are less likely to be in the moving mode than they were even a month ago. Therein lies the opportunity for those buyers who are in the market right now.
For those buyers who are active now, they can still enjoy historically low interest rates, but the other thing to keep in mind, is that there is less competition right now from other buyers. If you are in the market, you might be able to get a slightly better deal than you may have been able to get a month to two months ago.
Consider Historic Springfield and the listing located at 112 East 4th Street; A top notch renovation that will just take your breath away. This house represents a great opportunity for someone to own a truly remarkable property for a fraction of what the house would cost in another nearby Historic neighborhood. Why is this? Well, Springfield is a particularly attractive option because it is, as a neighborhood, undervalued currently – but it will not be this way forever. The area holds a great potential for appreciation and we have seen significant increases in a year over year comparison with last year. For example, the average sales price in the neighborhood in the last 12 months alone, has increased over 66%. That’s in one year.
112 East 4th Street represents a unique opportunity because it is a three bedroom, 3 bath house that has been expertly renovated, and is priced well under $300,000. Some people have an outdated view of what the neighborhood is like in terms of safety, crime, and/or blight. But this attitude is just that – outdated. As more people catch on about how great and desirable the area and the quality of life that it affords truly is, prices will increase, but by then, it will be too late to get a deal like this. Don’t take my word for it, I encourage skeptics to visit hard, objective crime stats at the Jacksonville Sheriff’s office’s website, where you can compare the crime stats of Springfield with any other area in the city. Contact me for an appointment today to look at this amazing house, as well as some of the other opportunities in the area. 904-382-7695.
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Posted on August 23, 2016 at 12:14 pm by Thomas Love