From Portland, Hello Jacksonville! (Springfield: bank owned, foreclosure, HOA)

[IndigoLight]

Originally Posted by samantha123abc

Turns out the beaches aren't my thing. I don't see the point of paying XXX more to be close to the ocean, which i'll only swim in occasionly. And once i've seen 50 sandy sunsets, and have walked 50 times up and down the long stretch of forever beach, and have looked at 50 below par houses retailing at $250,000. . . I developed an ill taste for the area. Plus I don't enjoy cleaning sand out of my ears.

Ditto

[jsimms3]

I say A. Is C part of tapestry Park or nearby there? B is cool, but not my style. I like how A is a corner lot, has larger windows, and I like the interior finishes better than B. C looks nice on the inside and Tapestry Park is a great development for the suburbs, but I am not a fan of suburbs period and having a house with history is ALWAYS cool.

[harajuka]

Sent you a DM, but I like C since its in a great development and nice and convenient to shops and restaurants. Here's another unit in the development to consider in Tapestry Park. 9823 Tapestry Park Cir Unit: 402, Jacksonville, FL, 32246 - MLS #544914 - Condo/Townhome/Row Home/Co-Op real estate - REALTOR.com®

[Robyn55]

I'd rule out C because it's a condo (never buy a cheap condo in Florida - too many problems with your neighbors' financial situations). Do you have the MLS numbers on the other 2? Robyn

[jsimms3]

Good point^^^ dealing with that now where I live... and no offense to lower income condo owners, but they SUCK at owning. They are noisy and don't take care of anything, and if you are proven to be more financially sound, more price burdens will fall on you because the other people are 60-90 days past and destroying things at the same time. My building has fallen victim to the economy like the others and has gone from close to 100% homeowners to probably over 50% renters and another 25% homeowners that purchased a unit that was originally $300-600K for closer to $150-300K and there is a HUGE difference in the upkeep of the building now. I have a couple that violently fights all night long every night above me, and the woman wears stilettos on their hardwood floor at 4 a.m. The elevators are constantly breaking and there are new dents in the doors every week. The computer room is always out of order now, and our pool has had to be drained 3 times this summer alone because people broke the rule and brought glass bottles outside, and lo and behold they ended up shattered in the pool. Big surprise with the people drinking out of those bottles

Also, new homeowners in Springfield are the coolest and classiest types of homeowners you can wish for. They all want the best for the neighborhood and everyone works together to spruce up the neighborhood and each other's houses. It is truly a neighborhood where everyone knows each other in a good way and everyone bats for the same team. You couldn't ask for more. It's probably an excellent investment, too!

See this thread:Random Acts of Beauty in Springfield | Metro Jacksonville Forum

[Robyn55]

Springfield is currently at ground zero in terms of the most distressed real estate market in the greater JAX area. Look at the "infographic" in this article:

First Coast housing market battered by short sales | jacksonville.com

The area has a ton of foreclosures/short sales (whereas other areas might only have a half or quarter ton ).

I don't think there's any reason to rush into the real estate market anywhere in Florida these days (except perhaps at highly distressed prices). The situation is still getting worse - not better IMO. And - with a "gentrifying" area - you're taking a much bigger risk than in a developed area. In the latter - your prices can still go down - perhaps a lot. But in the former - your neighborhood might wind up reverting to its prior "slum status". Move here - rent in an area you like - and take the pulses of the communities you're interested in. Keep your ear to the ground in terms of what's going on in real estate.

Note that this is the third real estate bust I've been through since I first moved to Florida. This one isn't unusual in terms of the price declines - but it does seem unusual in terms of the length - especially since interest/mortgage rates are at rock bottom (unlike the last bust in the early 80's - when interest/mortgage rates were sky high and had nowhere to go but down). Kind of gives me the creeps.

FWIW Samatha - I think you have to do more thinking about what you really want. Because a house in Springfield and a condo on Southside are 2 very different animals IMO. Robyn

[fsu813]

yea we moved in last year to SPR and got a great deal on our house on a shortsale. we paid about $50k less than the last people! not worried about it 'going back' at all. i like both Riverside [that looks like the second house] and Springfield and like the Tapestry park complex too [but not especially the area around bc you have to have care for everything] 3 good choices your very lucky! you cant lose!

[Robyn55]

Originally Posted by Jax Questions

yea we moved in last year to SPR and got a great deal on our house on a shortsale. we paid about $50k less than the last people! not worried about it 'going back' at all. i like both Riverside [that looks like the second house] and Springfield and like the Tapestry park complex too [but not especially the area around bc you have to have care for everything] 3 good choices your very lucky! you cant lose!

That could or could not be a good deal - depending. Real estate values in Florida are down about 30% overall from their recent highs - more or less in different places.

If you can afford your place - and are determined to stick with it and your neighborhood - good for you. I hope your neighbors do the same. Even though Florida - unlike California - is a "recourse state" (lenders can go after you personally if you walk away from your property) - we are starting to see more "strategic defaults" ("I can afford it - but I don't want to pay - so *********" kinds of defaults). And I - as a member of the Florida Bar - am embarrassed to say that the Florida Bar is constantly trying to recruit lawyers to work for free to enable people to do this. Shame on lawyers when people like you are trying to maintain/lift up your community. Robyn

[IndigoLight]

Originally Posted by Robyn55

I'd rule out C because it's a condo (never buy a cheap condo in Florida - too many problems with your neighbors' financial situations). Do you have the MLS numbers on the other 2? Robyn

I would say don't buy a cheap condo and a bad location.
Good location helps retain the housing value, whether a condo or a house.

[fsu813]

if your going to go condo but in a better location like 1661 riverside or Chelsea lofts. but those wont be as big as you want i think.

dont think you can wrong with either a or b. i like 5 blocks from A, so i vote for that one!