Jacksonville Real Estate with Property Bear: Recent Episodes
Property Bear
Jaime Tejera and the Property Bear team go over all things real estate - at least, all things that we know about or comes to Jaime's mind. Wholesaling, Realtors, Land Development, Relationships & Networking, Real Estate Investing and more.
Institutions are building and buying while retail buyers run around scared renting their products. How do you take advantage and play like smart money in real estate?
This month, we discuss the retail buyer being asleep at the wheel. Home prices didn't hit my 10% dip projection, but while retail sleeps, investors eat. We're watching some development deals get re-traded, but still going down at record prices. We are struggling to find inventory, but will be providing much more turnkey rental product in 2023.
We lean into our primary customers; investors and developers. We came from the investing world and while we love helping retail customers, Jaime's bread and butter is the investment analysis portion of real estate. It's not as fluffy - but it's what we're good at. Enjoy. Jacksonville Florida Real Estate Team Riverside Jacksonville Beach St Augustine Ponte Vedra We sell houses, we buy houses, Renovation, turnkey rentals, built to rent, build for rent
At least in Jacksonville, FL future homeowners are getting rug pulled. BUT, other than tell people who don't believe realtors - what are we going to do.
Whether you're an agent or an investor, things are slow. Retail buyers are a little slow on trends and it takes a bit of sensation for them to jump on the wagon. The US 10 Year is at 3.5ish% and there is an opportunity for buyers to get new construction with year one payments at 4.5%!! If you're an investor buyer - sorry - it's also slow - new listing inventory is dropping and if your job was to buy properties at the auction - you'd be bored out of your mind. This may be our reintroduction to seasonality. Are we just waiting for the market to pick a direction in Q1?
🔵 Mortgage rates dropping
🔵 New Listing inventory dropping
🔵 Foreclosure dockets very low
🔵 Is seasonality making a come back?
It's starting to seem that headlines are trying to 'push' the market in a certain direction while the undertow is pulling a different direction. Fortune posts about declining housing, while JP Morgan say's they're starting 1B fund to buy houses. Jacksonville's housing is 44% renter occupied, Nationally that number is 34%. Big money is buying housing, while pushing a different narrative. I get the strategy - it's been hard for them to buy homes the last 2 years, but damn - thats aggressive. Don't get me wrong, sales are declining, half of the buyers at the entry level position got wiped out and forced to rent - there's no fence for them to sit on anymore, but that leaves an opening. Find pre-foreclosure and probate data: http://www.kwapdata.comJoin Our Newsletter: https://bit.ly/3ejv51SSell property to us directly: https://propertybear.com/selltous/Talk to an agent/rep: (904) 822-0042 Our Podcast: https://anchor.fm/propertybear If you're looking for an insta-star, that ain't us. Our team's investment culture gives our real estate agents a more authentic attitude towards executing for retail customer goals. We use our investment flips as test dummies for our customers listings - testing out new strategies based on what the market is giving us that week. Our pivots are faster - because we have skin in the game. www.propertybear.com Instagram: @property.bear Jacksonville Florida Real Estate Team Riverside Jacksonville Beach St Augustine Ponte Vedra We sell houses we buy houses Renovation.
Find pre-foreclosure and probate data: http://www.kwapdata.com Join Our Newsletter: https://bit.ly/3ejv51S Sell property to us directly: https://propertybear.com/selltous/ Talk to an agent/rep: (904) 822-0042 Our Podcast: https://anchor.fm/propertybear If you're looking for an insta-star, that ain't us. Our team's investment culture gives our real estate agents a more authentic attitude towards executing for retail customer goals. We use our investment flips as test dummies for our customers listings - testing out new strategies based on what the market is giving us that week. Our pivots are faster - because we have skin in the game. www.propertybear.com Instagram: @property.bear Jacksonville Florida Real Estate Team Riverside Jacksonville Beach St Augustine Ponte Vedra We sell houses we buy houses Renovation.
Find pre-foreclosure and probate data: http://www.kwapdata.comJoin Our Newsletter: https://bit.ly/3ejv51SSell property to us directly: https://propertybear.com/selltous/Talk to an agent/rep: (904) 822-0042 Our Podcast: https://anchor.fm/propertybear If you're looking for an insta-star, that ain't us. Our team's investment culture gives our real estate agents a more authentic attitude towards executing for retail customer goals. We use our investment flips as test dummies for our customers listings - testing out new strategies based on what the market is giving us that week. Our pivots are faster - because we have skin in the game. www.propertybear.com Instagram: @property.bear Jacksonville Florida Real Estate Team Riverside Jacksonville Beach St Augustine Ponte Vedra We sell houses we buy houses Renovation.
Find pre-foreclosure and probate data: http://www.kwapdata.com
Join Our Newsletter: https://bit.ly/3ejv51S
Sell property to us directly: https://propertybear.com/selltous/
Talk to an agent/rep: (904) 822-0042
Our Podcast: https://anchor.fm/propertybear
If you're looking for an insta-star, that aint us. Our team's investment culture gives our real estate agents a more authentic attitude towards executing for retail customer goals. We use our investment flips as test dummies for our customers listings - testing out new strategies based on what the market is giving us that week. Our pivots are faster - because we have skin in the game.
www.propertybear.com
Instagram: @property.bear
Jacksonville Florida Real Estate Team Riverside Jacksonville Beach St Augustine Ponte Vedra We sell houses we buy houses Renovation.
New home sellers are about to find out what real - real estate agents and investors look like. No matter what the market is doing, sellers need to sell and buyers need to buy. I do not think we are in a seller's market, I also don't think we're in a buyer's market. We're in a Jerome Powell Market. Month's Supply of Inventory is a delayed KPI based on a 12 month rolling average of pending sales. If your agent is using that as the market barometer, you're in trouble. FACT: Even if we decline 10% from this year's high, we would still have positive growth YOY. The fed wants 5% unemployment. Thursday's job report was positive towards that goal, but fed says 'no pivot'...
Sellers:If your agent is using MSOI to gauge your listing price, you will be catching a falling knife.
- Jaime Tejera
You SHOULD be getting different advice from your advisor er realtor depending on what bracket you're in and what your real estate goals are.
Inventory levels for entry level homes are still not catching up to demand AND institutional buyers are taking more and more of it off the table. If you're a move up buyer, you may need to sit on the sidelines until lending rates change OR rent out your current house to hedge your new mortgage payment.
Connect with us! (904) 822-0042 www.propertybear.com Instagram: @property.bear Jacksonville Florida Real Estate Team Riverside Jacksonville Beach St Augustine Ponte Vedra We sell houses we buy houses Renovation.
Sellers: If you're looking to sell a primary home with a low rate with the intent of 'moving up' I recommend double checking your numbers. Buyers: Jaime thinks we will be taking a little price dip and then prices will run back up along with rental rate increases.
Jacksonville Real Estate prices are coming down, month over month we're at about 3% but YOY we're at +18%... Seller's don't need to sell right now if they have low rates on their mortgages, in fact it's a bad idea - sellers would get a lateral trade at best. Second homes are a different story, no homestead property tax protection and high insurance rates make for a low cashflow scenario on some rental properties or second homes. Those make more sense to sell.
Connect with us! (904) 822-0042 www.propertybear.com Instagram: @property.bear Time Codes Intro - 0:00Upcoming Projects / Deals - 1:18 Sales Price - 4:09Months of Inventory - 5:50Closed Sales - 7:36Days on Market -8:15Jacksonville Affordability - 8:53Mortgage Rates - 9:57What does this mean for retail customers - 10:30 Jacksonville Florida Real Estate Team Riverside Jacksonville Beach St Augustine Ponte Vedra We sell houses we buy houses Renovation.
Connect with us! (904) 822-0042 www.propertybear.com Instagram: @property.bear Jacksonville Florida Real Estate Team Riverside Jacksonville Beach St Augustine Ponte Vedra We sell houses we buy houses Renovation.
We've spent a bunch of money on education for our Agent business and our investment business. Check out some of our favorite events and some guide posts on what to look for before spending money.
Jaime Tejera talks about his thoughts on whether or not wholesalers should get real estate licenses.
In the last year we’ve evaluated over 400 offers on our listings and our customers’ listings. This is what WE look at outside of the basics of offer price as sellers, not just as agent reps. When buying a home in Jacksonville, FL have these strategies in your pocket to make sure you WIN the offer, and save some gas while searching for a home.
- Strategy #1: The agent, brokerage and lender you choose does matter.
Agents: When you have a lot of experience selling homes, you know which agents are flaky, most top agents and builders have whats called a DNP List or (Does Not Perform). When looking at multiple offers, if someone has a history of backing out or flaking out, it’s a red flag.
Brokerages: Some low-fee brokerages are not able to handle the training volume required to maintain top tier agents, (usually flat fee 100% commission types) this usually translates to higher binder and broker disputes, not a win-win. We prefer to work with the higher pedigree brands of brokerages. Not to say there are not great agents at some of these brokerages, STATISTICALLY they have more brokerage issues than others.
Lenders: This does matter. We know who are instagram pros and who are REAL pros that underwrite and research the customers before sending them out with a pre-approval. * Strategy #2: Net to seller matters
In Northeast Florida it is customary for the seller to pay the majority of the Title related closing costs. Around 1-2% of the sales price. Closing costs increases net to seller without increasing risk of appraisal hitting value. * Strategy #3: Remove Noise
Be up front about what you want and remove risk. TONS of agents are writing multiple offers at the same time which creates noise for sellers. Do everything you can to remove that noise.