Advice for a young couple looking for a starter home... (Jacksonville: sales, real estate)

[stephen3]

Does anyone have any knowledge of the housing prices in Hodges, Kernan or San Pablo for 3/2?

[travelingfood]

Originally Posted by Bette

One of my clients is buying an absolutely townhome/villa in Orange Leaf Plantation in Orange Park for around $175K - all updated, gorgeous. Also, the appraiser I used said he is now busy with purchases! Check out this area!

Oakleaf Plantation you mean? Don't forget the $1600ish annual CDD, $50 HOA fee. I would haggle to lower the price there.

Originally Posted by stephen3

Does anyone have any knowledge of the housing prices in Hodges, Kernan or San Pablo for 3/2?

low $200s?

[jrmutley]

Heck with the Oakleaf Townhomes...there are plenty of 3/2 single family homes out here for well less than $175k. Kinda depressing acually...considering what I paid for mine March 2006.

[bcaptain78]

I suggest that you check out Sutton Lakes. It's 10 minutes from the Beaches and 15 minutes from Downtown. Everything is close by.

[riveree]

Originally Posted by vdecapio

In terms of investment, I don't think Jacksonville is the place. Census data shows that the Jacksonville population is currently stagnant (as many coming in as leaving). Slight increase due to net births over deaths. Not that you can't see moderate returns on housing investments here, but nothing like in other hotspots of the country. Too much land left, not enough city amenities, not enough density, not enough high paying jobs will keep the home prices here just as they are for the foreseeable future.

I also think that the areas discussed in your price range are somewhat fringe areas. I drove through a lot of these neighborhoods and wasn't very impressed with anything below 200k. Everything below 200k was in my mind a concrete block trailer with a rusty carport.

It would be a miracle if I ever purchased anything in Jacksonville, but if I did it would be based on what I wanted to live in......not based on investment. And for what 200k will buy, I would look closer to UNF for a newer home or I would buy one of the many townhomes or condos available near 9A. You could probably buy a townhome for around 100k, you wouldn't have to water the lawn or maintain it, you wouldn't have to fix it up, and with the extra 80K you could buy a small vacation home in Belize!

Actually, in terms of investment in Florida, Jacksonville IS the place.

When you invest, you want to invest for the highest return and the least amount of risk. In Florida, Jacksonville is proven in both areas year after year - during the boom and now after the boom. We are faring better than other parts of Florida for the very qualities you dislike about the city.

When you get a chance, check out this article. Though it's about commercial investments, I think it explains why Jacksonville is faring better than average:

Jacksonville.com

The OP will have to decide between an older home in an established neighborhood and a newer home in a new neighborhood - both have their attractions - but as far as the neighborhoods I proposed being "fringe", that is not correct.

Ridgewood and Lakewood are very nice neighborhoods that have stood the test of time. These neighborhoods date to the 1940's and have remained stable, family neighborhoods for all those years. Through all the changes Jacksonville has gone through since the 40's, these neighborhoods are still standing, the homes are solid, and there is real community there. By your description, you've made it clear to me that you don't know these neighborhoods. Most of the homes in Ridgewood and the 32207 side of Lakewood are off-grade, brick/stucco/lap, hip-roofed, attached garage, have original hardwood floors, etc. In short, they are of the same building material and style as San Marco proper. Are the lawns all perfectly manicured? No....that's why they're still relative "bargains" and you can find a home there for under $200K.

The 32217 side of Lakewood (it's huge...it spans 2 zip codes) has a different look since the homes date from 1950 and beyond. Here you'll find more of a postmodern look with concrete block construction, flat roofs and carports - though they're not "rusting" - most of them are original to the structure and are made of the same material as the house. You probably won't find hardwood floors on this side of Lakewood since these later homes are on slab, but that's why the price drops too .

The Goodby's Creek area is off Baymeadows Road and these homes are often from the 1980's. If the OP was looking for something a little more modern and a little less of a fixer-upper, this could be a good fit.

I added San Souci and Brierwood separately because, though perfectly respectable neighborhoods, I don't put these in the same class as the others I mentioned. You can buy a bit more square footage here, but your return on your investment might not be as high. Still, from a commute perspective, San Souci is "right there" by the OP's worksite, so I think it's worth considering.

A new townhome would certainly be convenient. As you said, no lawn to water and nothing to fix up. But if you put little in, you get little out. If all you do is pay your mortgage each month, then you can't complain later when your return on your investment is lackluster. If you truly view your home as your home AND as an investment, you want more out of it and that means you need to put more into it, and that might be sweat equity .

Originally Posted by riveree

For your price point - $180k - the neighborhoods I would look at are:

Ridgewood (32207)
Lakewood (32207 & 32217)
Goodby's Creek area (32257)

You might also want to add:

San Souci (32216)
Brierwood (32217)

[riveree]

Originally Posted by stephen3

I have been living in Jax for just over a year now and still learning my way around and what areas I might want to live in.

I currently live in San Marco, 32207, with a friend that bought a house last year. He paid around 205-210k and it is a 3 bed/1 bath and needs alot of work. He is from that area so we wanted to stay around there. I figured I could get a bigger and newer house for what he paid in a different area away from downtown.

You're right, the further out from Downtown you go, you'll be able to buy a bigger and newer house for the same money. The reason your friend paid as much as he did "per square foot" is because of location.

San Marco is one of the prime, if not the prime at this point, locations in all of Jacksonville. You will pay more per square foot to live there, so people often have to buy small fixer-upper homes.

So why do people do it? Because they love the lifestyle of living in an established river neighborhood close to Downtown, because they love the style and workmanship of older homes, and because these older areas are somewhat insulated to the downturn of the real estate market. When people want to live in an older, charming neighborhood, there are only so many to go around . New development? They're a dime a dozen.

On the other hand, older homes can be tricky. Modernizing one to today's living standards can be costly and time-consuming, it truly is a labor of love. Sometimes we're up for it and sometimes we're not. Though I love old houses, my last house was one I built brand new...I was having one of those "I can't take this old house anymore" moments . I'm glad I did it and I understand the appeal of brand new homes as well, both have their place.

So you'll have to decide what is right for you. Keep looking, look a lot, don't buy the first home you see (yes, people actually do this, I know a few !). This about how you want to live, how long you're going to stay in your home, what you expect out of your home, etc. You'll find the right fit .

[riveree]

Originally Posted by bcaptain78

I suggest that you check out Sutton Lakes. It's 10 minutes from the Beaches and 15 minutes from Downtown. Everything is close by.

Sutton Lakes is a good value for new construction. It may not be the most primped and manicured development (though it looked a lot better last time I drove through), but it has the amenities a lot of people look for (community pools, etc.) at a bargain price compared to most amenity-laden communities. OP, Sutton Lakes is in zip code 32246.

Originally Posted by stephen3

Does anyone have any knowledge of the housing prices in Hodges, Kernan or San Pablo for 3/2?

The zips that cover those areas are 32246, 32224 and 32225 - see what $180k buys on realtor.com, as Agreatlife suggested .

[agreatlife]

Riveree, you summed it up perfectly for stephen3. I cannot rep you today, have to share the love, but you've stated everything quite nicely.

[riveree]

Originally Posted by agreatlife

Riveree, you summed it up perfectly for stephen3. I cannot rep you today, have to share the love, but you've stated everything quite nicely.

Thanks Agreatlife .

Since I like this city, I have no plans to move to another. Still, I have to quench my wanderlust somehow, so I move from neighborhood to neighborhood ! I'm always looking and plotting .

[agreatlife]

Originally Posted by riveree

Thanks Agreatlife .

Since I like this city, I have no plans to move to another. Still, I have to quench my wanderlust somehow, so I move from neighborhood to neighborhood ! I'm always looking and plotting .

hmmm, then why haven't you bought my home yet! LOL