Buyer's Guide

2023

Best Places to live in 2023

Matthew J. Daniel

Senior Principal for Talent Strategy

May 12, 2023

About

St. Johns County

It's easy to see why people have been settling here for over 450 years! St.Johns County has it all, from beautiful beaches to quaint downtown shops, there's something for everyone in St. Augustine and Ponte Vedra Beach.

Relive history, explore nature, enjoy a seaside meal, have a camping adventure or shop for local treasures. Centuries of history and ancient natural beauty provide the perfect backdrop for your lifestyle!

About

Jacksonville

Jacksonville is the largest metro area by land mass in the continental U.S., and it offers a range of culturally and aesthetically diverse neighborhoods surrounding downtown.

Sitting near the Atlantic shore in northeast Florida, Jacksonville is tied together by bridges, crossing rivers to unite residents in the downtown area with nearby beaches. Restaurants, shops and entertainment options fill all of Greater Jacksonville's neighborhoods. There are nature trails to hike and marshes to kayak. There is history to see, and there is business to develop. In fact, the region witnessed an ignition of its art and music scene, stimulating business development that has led to demand for a higher standard of living.

Want to explore hands on?

I'm Your Local Real Estate Guide.

Melanie Escalante

Professional Real Estate Advisor

Think of me as your go to for everything Real Estate.......

I'm also pretty good at recommending places to eat, places to visit & all things North East Florida! I am a seasoned licensed real estate advisor with a wealth of knowledge. Originally from Great Britain, I have lived in the USA for many years. I have a unique perspective on home buying and selling, moving states and even moving countries. I know it can seem daunting and that's where I come in! I will personally guide you in every step, giving you a bespoke experience. I am a new construction & waterfront specialist with many years of working with a developer. I know the ins & outs of building and buying a new home. Let me guide you in the amazing communities that Northeast Florida has to offer. My areas of expertise are; Nocatee, St. Augustine, Ponte Vedra, Vilano Beach, Ponte Vedra Beach, Flagler beach and Mandarin/San Marco in Jacksonville.

More Than Just An Agent

I'm A Real Estate Advisor

Real estate agents help their clients buy and sell homes, but I'm skilled to do more. I will offer guidance and insight in ways not every agent can. In fact, I designate myself as "advisor" rather than "agent", to better define the higher level of service that I can provide.

In the Engel & Völkers Brand, we maintain consistency amongst high levels of service experience throughout the world by managing performance at every level. The brand is highly selective of the agents who join. They approach top performers with proven track records and real estate professionals who are well respected within the community. A deep understanding of client service is essential.

Being an expert, I will provide more than just facts. I'll provide you with valuable insights that are relevant to your personalized needs and see to every detail throughout the process.

My passion is exceeding expectations which is only natural I align that with professional service. With my expertise, I can answer any questions -- recommending restaurants, movie theaters, financial institutions, popular tourist attractions and cultural events. More importantly, I can talk about your local real estate market and help you navigate through it.

The Home Buying Process

The Home Buying Process

Whether it's a first home, an investment property, or a vacation home, Engel & Völkers Jacksonville Advisors will work with you to determine and achieve your home buying goals.

Following a consultation with one of our expert advisors, who will ask questions that will shape the service to follow, we will show you properties that best match your criteria. We will always work to find you the best value within your time frame while providing the most convenience for you as possible.

We maintain an active list of available homes that is constantly updated and have access to listings worldwide through Engel & Völkers' global network.

We also maintain relationships with trusted partners to provide the essential services you'll require throughout the purchasing process, including finance, insurance, inspections and legal representation.

Before The Search Begins

The Home Buying Process

Your home buying experience is special to us. Being your real estate advisor is not only our business but our passion and we are committed to providing you with exemplary personalized service beyond your expectations. From the beginning of your search, we listen to identify and truly understand your needs - a quality of business conduct that seems to have been forgotten in today's highly automated society. Every detail that is important to you, is important to us. While we schedule showings, we will be timely and professional but keep in mind this is an exciting time.

Viewing Properties

The Home Buying Process

As you begin your search for a new home, keeping track of what makes one different from the other will help you make better decisions in the end. Take notes of the homes you visit and stay organized so you can easily compare information.

Also consider:

• The style of the homes that you will see: single family homes, multi-family, condos, co-ops
• The condition of the home you would accept: new home, older home, renovation required
• The resale value
• The number of bedrooms and bathrooms
• The neighborhood
  

The Price

Making the offer

Based on your research, notes, finances and the properties you've viewed, you've finally found the home that meets your criteria. You're ready to make an offer.

An offer includes the price you would like to pay for the home in question. How much you will offer could depend on finances, comparative prices of other homes in the market, as well as private property and appliances to include in the sale.

Earnest Money

Making the offer

The offer also includes an earnest money check or good faith deposit, which is an amount of money that demonstrates your commitment to the property. A good faith deposit is not the same as a down payment, which is considerably more. The amount of the deposit might be between one and three percent of the purchase price and should go to a third party which might be a legal firm, escrow service, title company, or brokerage--not to the seller. And if the transaction is not completed for whatever reason, the deposit may be returned.

Closing Date

Making the offer

Also in the offer are items in the house, including appliances that would be part of the sale and repairs you would require the seller to make, prior to the closing. Dates should also be mentioned in the offer including the closing date and the move-in date. Fees associated with the sale and who will be responsible for each, should be determined. The offer will also declare what the consequences would be as a result of a breach of contract.

Contingencies

Making the offer

Contingencies help offer protection on the way toward finalizing a deal. While a seller could accept a competing offer without contingencies and a speedier process, you should consider certain risks. For example, you can ensure that a contract could be finalized contingent upon receiving written loan approval, and that you can cover the cost of the purchase. You can also make the deal contingent on successful inspection results and the completion of any major repairs or deductions equal to the value of those repairs. If you own a home and need to sell it prior to purchasing a new home, the purchase can be contingent on the successful sale of your previous home. Deadlines should be assigned to each contingency.

The Closing

The Home Buying Process

This is the process that takes place during a meeting of the parties involved in which the transaction is completed and the title of the property is passed from seller to new owner. Before the closing, the buyer conducts a final walk-through of the home to make sure that the property is as it was when you viewed it and that all repairs that may have been stipulated in the offer have been completed to satisfaction. During the closing, paperwork that has been prepared by all parties involved, including the agents, the bank providing the mortgage, attorneys and title companies, are signed.

Mortgage Questions?

Am I better off renting or buying?

The decision to rent or buy a home differs for everyone, as there can be benefits to both depending on how long you plan to live in your home. We can help you weigh the pros and cons to see which option is best for you. If you decide buying a home is in your future, we have amazing lender connections throughout the First Coast to refer you to.

What's the advantages of buying a home?

The American Dream, right?! Buying a home gives you a sense of investing in a community you love and pride for achieving home ownership. Additionally, financial benefits come into play such as tax savings, building home equity and no longer paying rent to someone else. Interest rates are still at record lows and with many unique down-payment options available, a home purchase may be easier than you think!

How much do I need for a down payment?

Your down payment requirements will depend on your lender, the type of home loan you choose. and the type of property you are buying. Your required down payment can range anywhere from 3%-20% of the home's purchase price. Lenders offer a variety of different loan programs and each programs has different rules regarding the down payment required.

How much can I afford to borrow?

Common Mortgage Questions

Everyone's financial situation differs and it's important to recognize what you can comfortably afford to borrow. Your loan officer will help you determine this while (in general) factoring in:

• Your debt-to-income ratio
• This is your total monthly payments as a percentage of your gross monthly income.
  
• The amount of cash you have available for a down payment and closing costs.
• Your credit history
• The value of the property you want to purchase.
  

How long does it take to buy a home?

With newer guidelines designed to simplify and consolidate some of the required loan disclosures, it changes the timing of some activities in the mortgage process. Forty-five days is the new normal but each situation is different.

Mainly loan origination and the cost to close. The down payment is usually the largest cost associated with buying a house. Lending fees are the second largest costs to homebuyers. Most lenders will charge between 2% to 4% of the loan amount for loan origination fees, depending on the loan type. Conventional loans usually have lower loan origination fees but require more money down. Your loan officer will be able to help you determine how much you can expect to pay towards loan origination & closing costs.

What are the closing costs?

Closing costs include items such as appraisal fees, title insurance fees, attorney fees, pre-paid interest, and documentation fees. These items are different for each customer due to differences in the type of mortgage and the property location, etc. You will receive an estimate of your closing costs in advance of your closing date.

Financing Options.

The Moving Experience.

Moving is change. Whether you do it yourself or have it done for you, it is the removal, relocation and replacement of all your treasured possessions to a completely new surrounding. It is an opportunity to shed belongings and an opportunity to acquire new ones. Above all, moving is a process with many steps.

As soon as possible:

The Moving Experience

• Decide how you're going to move your furniture and personal belongings, either by hiring a moving company or renting a truck, and do the research. Get recommendations from your real estate advisor and when getting estimates. Be sure to ask about availability and additional costs of materials and tools such as boxes, tapes, covers, packing material, and a hand truck or appliance dolly if you're moving yourself.
• Start gathering the necessary moving supplies.
• Take stock of your possessions and decide what will be moved and what could be removed. This is an opportunity to sell unwanted items online or through a yard sale.
• Notify others of your new address: charge accounts, subscriptions, relatives & friends, and your past/current employer to make sure that you receive W-2 forms and retirement account information. Save your old address labels to speed up filling out change-of- address forms for your new address.
• Notify federal and state taxing authorities or any governmental agency necessary

Two weeks before moving:

• Notify and get refunds from your present utilities: gas, electric, water, cable, and phone. Arrange for services at your new address.
• Transfer your address with the US Postal Service.
• Begin using up what you can't move, like cleaning supplies, food, etc.
• Recruit people to help and arrange for someone to take care of your pets and children during the move.
• Confirm moving company or rental-truck arrangements.
• Transfer your bank accounts.
• Draw up a floor plan of where your furniture should go.
• Purchase moving insurance. Your mover's liability for lost or damaged goods will not equal their replacement cost.
  

Two days before moving:

• Keep moving materials in a separate location from where the packing is happening.
• Gather all valuables, jewelry, important papers (birth certificates, deeds, documents) to take with you personally.
  

On moving day:

• Plan on spending the entire day with the movers. Don't leave until they have gone.
• Record all utility meter readings (gas, electric, water, etc.)
• Make final walk through of the house, including storage areas, attic to make sure everything is empty.
• Lock all windows and doors and drop off keys with your landlord or advisor. If you have been renting, consider taking pictures or a video of the vacant house for your records and proof of condition.
  

Melanie Escalante

Real Estate Advisor

+1 (904) 494-8432

Melanie.Escalante@evusa.com

MelanieEscalante.evrealestate.com