Real Estate Values in St. Johns (JCP) and FI (for sale, 2014)

[deeni]

Hello,
It seems as though JCP is a very popular neighborhood for home buyers. I know that house values plummeted in the area a few years back. Would you say that the housing prices in St. Johns have rebounded? Are home values in general going up again? I have been watching the Fleming Island and JCP real estate listings and it seems that Fleming Island houses have been sitting on the market longer than JCP houses. Would JCP be considered a more "desirable" and in demand area? I am just trying to get an idea of future value if we buy in JCP. We are in it for the long haul but you never know these days and I want to make a sound investment decision.

Thanks!

[SaintCabbage]

I wouldn't, Durbin and Nocatee and much hotter than JCP.

[newnewsmama]

Originally Posted by SaintCabbage

I wouldn't, Durbin and Nocatee and much hotter than JCP.

JCP, DC, and Nocatee are so close. I think the latter two are hotter mainly because they are still under construction. When the building is completed, wouldn't all three share similar risks?

[SaintCabbage]

Originally Posted by newnewsmama

JCP, DC, and Nocatee are so close. I think the latter two are hotter mainly because they are still under construction. When the building is completed, wouldn't all three share similar risks?

Yes, we're getting dangerously close to overpriced, but the demand is there, so who knows.

[deeni]

I would love to consider Nocatee or Durbin but I think I'm priced out of Nocatee. Plus I'll be working at NAS and it seems like jcp is the closest of the three. So I think my choices are basically jcp or fleming island.

[Giants6]

We bought a house in DC North in June 2012, which is probably shortly after the housing market bottomed out IMO, paying roughly 90 bucks per square foot. Since we only put 10% down we had a small PMI payment as part of our monthly mortgage. After paying a few more percent down over the last couple of years + seeing what comps in the neighborhood were selling for, I requested the mortgage company drop the PMI. Well of course I had to do a 300 dolla appraisal! However the good news is that my house went up 20% in value in 2.5 years, so we easily got rid of the PMI and are now around 35% LTV. There will be a correction at some point, but who knows when. I keep thinking the stock market is going to take a dive any day, but it's continuing to chug along.

My non expert opinion is that right now the large house resales in Durbin is where you can get the best deal. Those seem to have longest "Days on the market" time, so maybe there are deals to be had. Forget about new builds unless you only care about having something shiny and new. The builders see blood in the water. What the builders are charging for the track houses across from the neighborhood school seem insane to me, but they know the price point right, and I'm sure they are making up for the lean years (2010-2012), when they had to hold their nose and basically give houses away on the cheap.

[Florida2014]

I saw the sign that said "From the low $200s" on those track homes, what are they really asking for those things? Some look like they couldn't be more than 1,000 square feet total.

[judeK]

IME;
Low $200's could be anywhere from $200,000 - $235,000
Mid $200's could be anywhere from $236,000 - $266,000
High $200's could be anywhere from $267 - $299,000

[RSWATTY]

Originally Posted by Florida2014

I saw the sign that said "From the low $200s" on those track homes, what are they really asking for those things? Some look like they couldn't be more than 1,000 square feet total.

Those are 43 foot wide lots. The side setbacks are ridiculously short.

People are overpaying to get the cheapest houses in the neighborhood.

It worked well for Nocatee, though. There are 40 foot wide lots in Greenleaf Village where houses have been selling for the $260s and above the past year or so.

When we were shopping 2 years ago, Austin Park had just sold out, which left Greenleaf Village as the only Nocatee neighborhood in our price point. We drove through once, saw the houses packed in together like sardines, and said no thanks. Others apparently have a different mindset though.

[Florida2014]

Yeah, they don't look appealing at all to me. I see very few trees or any natural preserve at all over there and you're butted up against Longleaf. But I guess people will sacrifice to be in our neighborhood and to have access to Patriot Oaks. It will be interesting to see if in a few years there are many houses that go up for sale once all these family's kids grow up and move away. I know that is one of the biggest selling points here, the family friendly atmosphere.