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Old 07-02-2009, 02:20 PM
 
98 posts, read 146,090 times
Reputation: 35

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The Mr. and I will be in the St Augustine area later this month and planto look at a few neighborhoods. On a trip last year, we saw and liked Murabella. The prices we are seeing on realtor.com now are shocking compared to early last year. One for $215K that is 3000 sq ft.? That seems shocking when we saw $300K and up for 2700 sq ft when we were there early in 2008. Has the market reallyl dropped that much?

Info on the RE market from locals would be most welcome.

Also, if any Murabella residents are willing to share the current amount of CDD fees, that would be apprecated also.
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Old 07-02-2009, 02:37 PM
 
90 posts, read 232,949 times
Reputation: 33
Hey I was about to ask the same question! Anxious to hear what people think. Also why are there so many homes for sale and for rent? Are people bailing that much?
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Old 07-03-2009, 10:46 AM
 
2,055 posts, read 3,117,713 times
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Quote:
Originally Posted by windsorslp View Post
Hey I was about to ask the same question! Anxious to hear what people think. Also why are there so many homes for sale and for rent? Are people bailing that much?

It's simple....the builders built to much and there weren't enough buyers to buy them all. Supply outpaced demand and now you have a great inventory to choose from at highly discounted prices. Anyone buying a home in Jacksonville today will make good money in the next 5 years. I'm looking for my third property as we speak.
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Old 07-03-2009, 12:42 PM
 
20 posts, read 89,939 times
Reputation: 16
I live in Murabella & love it here. Shaken is correct - Murabella was built at the height of the real estate mania & investors bought up houses by the handfuls. When things took a turn, the investors dumped the houses & there is a surge of foreclosures in not only Murabella, but any neighborhood in the area.

Keep in mind that the prices you see listed on homes aren't "real". Banks are putting lowball numbers on the houses, but refusing to sell them at that price. I had a friend that wanted to buy in here at one of the "advertised" low prices & couldn't. Keep this in mind. The banks are putting low prices on the houses & then stalling....for months! Anyone that needs a house immediately isn't looking at those houses & are going directly to the builders or a house that isn't in short sale. Those prices are higher - but not as high as 2008. The 215k enormous house is in short sale or foreclosure & you'll have to jump through hoops to get it.

Anyway, if you like the area - considering buying here. I've met wonderful people & love the neighborhood! BTW, the CDD fees are about $2500/year
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Old 07-03-2009, 12:51 PM
 
Location: Jacksonville, FL
131 posts, read 282,322 times
Reputation: 128
Quote:
Originally Posted by kikiFL View Post
I live in Murabella & love it here. Shaken is correct - Murabella was built at the height of the real estate mania & investors bought up houses by the handfuls. When things took a turn, the investors dumped the houses & there is a surge of foreclosures in not only Murabella, but any neighborhood in the area.

Keep in mind that the prices you see listed on homes aren't "real". Banks are putting lowball numbers on the houses, but refusing to sell them at that price. I had a friend that wanted to buy in here at one of the "advertised" low prices & couldn't. Keep this in mind. The banks are putting low prices on the houses & then stalling....for months! Anyone that needs a house immediately isn't looking at those houses & are going directly to the builders or a house that isn't in short sale. Those prices are higher - but not as high as 2008. The 215k enormous house is in short sale or foreclosure & you'll have to jump through hoops to get it.

Anyway, if you like the area - considering buying here. I've met wonderful people & love the neighborhood! BTW, the CDD fees are about $2500/year
Kiki couldnt be more correct. Me and my then fiancee (wife now) were looking at short sales in Heritage Landing. We had a contract on one and the bank was leading us one for weeks and stalling and finally sold the loan and forced us to start all over. Needless to say we walked away from it but from what Ive heard that is happening for just about every short sale. Its rediculous and I dont feel sorry for the banks that are losing billions. They have the chance to unload inventory but are making it impossible.

As to your question, builders with left over inventory are slashing prices. I actually bought my house $10k cheaper than it was when I had looked at it just one week earlier before I bought it.
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Old 07-03-2009, 07:07 PM
 
Location: Jacksonville, FL
117 posts, read 381,597 times
Reputation: 52
FYI...another large national builder is currently looking into taking over a section of Murabella. It's not a done deal yet, but is definitely looking like it's going to happen. Look for signs in the next month or two.
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Old 07-04-2009, 05:44 PM
 
Location: Jax
8,204 posts, read 32,753,272 times
Reputation: 3408
Quote:
Originally Posted by DigPlantWeed View Post
Has the market reallyl dropped that much?
In some areas, YES! Proceed with caution. Some areas have been hit harder than others and no one can say for certain that all areas are going to pick back up. Sometimes the market changes for good - look at SUVs .
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Old 07-06-2009, 07:04 AM
 
55 posts, read 136,319 times
Reputation: 17
I live in sevilla which is just down the road from Murabella. It's the same situation here too. We bought a year ago for a pretty discounted price from one of the builders. I think the main problem is nobody really knows what the prices should be. There is so much inventory in the phase 1 section. They really just need to clear out all the short sales/foreclosures. It seems building is picking up in the last month or so in our neighborhood though. We just had DR Horton buy up a ton of the lots that were open and Mattamy is building homes as well. Our CDD is $1500 per year and we also have an hoa which runs $570 per year. The thing we liked about Sevilla is the closeness to I95 and the fact our irrigation water is covered in the CDD so we don't see outrageous water bills each month. Ours runs us 55 bucks and we've got a family of 4. Also we just had a great 4th of july gathering on Saturday night. It was nice to see so many people come out!
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Old 07-29-2010, 03:10 PM
 
Location: Mandarin
6 posts, read 16,426 times
Reputation: 15
Quote:
Originally Posted by DigPlantWeed View Post
The Mr. and I will be in the St Augustine area later this month and planto look at a few neighborhoods. On a trip last year, we saw and liked Murabella. The prices we are seeing on realtor.com now are shocking compared to early last year. One for $215K that is 3000 sq ft.? That seems shocking when we saw $300K and up for 2700 sq ft when we were there early in 2008. Has the market reallyl dropped that much?

Info on the RE market from locals would be most welcome.

Also, if any Murabella residents are willing to share the current amount of CDD fees, that would be apprecated also.
Yes. The Florida housing market has hit a huge bump as a result of the housing bubble bursting. We are one of the states with the highest foreclosure rate right now as well. Our home prices are falling like a brick and it still hasn't hit the bottom. In addition, too much new home construction makes it nearly impossible to sell an older home because peoople can get a new home for the same money or just slightly higher. If your not in a good location, you won't be selling any time soon that's for sure, even with low interest rate enticements.

For those of us already in the housing game however in FL, it doesn't help much because we still need to turn a profit on the sale of our homes to upgrade, even with declining prices. It is a perfect example of a rock and a hard place that I know of.

For first time home buyers, they get to write their own ticket. I am 45 years old and when I got in the housing game, it took hard work and paying interest on a family "gift" for the down payment. We also had to pay PMI for 2 years until we were paid down to the 20% requirement. There was no such thing as 100% financing then either. Whose insane idea was that anyway? No wonder there are so many foreclosures. No one has any of their blood, sweat and tears invested, so why not just walk away? We didn't get hand outs from the government either when I first bought in 1992.

If you're interested in relocating, and you've sold your property and walked about with money in your pockets good for you, because you my friend are in the drivers' seat. I'd like to be a passenger!

Happy house hunting!
Nancy
Jacksonville, FL since 1998
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Old 07-29-2010, 03:59 PM
 
Location: Mandarin
6 posts, read 16,426 times
Reputation: 15
Is it KB Homes? Can you tell me anything about the Pescara at Murabella section coming in that advertises no CDD fees? Will there be access to the community/pool etc if not?
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