Are you a buyer, seller, realtor? Hold onto your hat. NOW is the time to make your move, invest, buy, sell… the action is happening right here in St. Johns County, Florida!
As Charles “Bud” Moores, President of Florida Real Estate Loans, Inc., said recently, “St. Johns County is where Broward County was a few years ago. It’s poised on the edge of phenomenal growth.”
The last year was a healthy one for home building in St. Johns County, and it’s likely to be just a step toward a peak that’s coming in the years ahead.
St. Johns County will end up with hundreds more new houses this year than 2015 — when more than 2,500 new detached, single-family home permits were issued. And some builders are saying the coming year will see even more activity.
David Smith, the president of the Jacksonville division for builder AV Homes, said North Florida is so desirable that his company and others like it will do their best to meet what is a very high demand right now.
AV Homes has a small stake in the county with home sites in Stone Creek and in The Grove at Bannon Lakes. The company had sites in Nocatee that are all sold.
Smith said the company remains very bullish on the area that already saw more than 3,000 new homes permitted in 2016.
“I think St. Johns has seen a boom in the past, but I think it’s poised in the next two to three years to continue to grow south and really grow exponentially beyond what people have seen today,” Smith said in an interview with The Record last week.
As far as Smith can tell, the real estate market has recovered from the downturn and mortgage crisis that stunted the county’s growth about a decade ago.
Now there is little to hold back the market. The economy nationally and especially locally appears stable. Local unemployment numbers are near historic lows while the county’s population continues to climb.
Mortgage rates have risen from rock bottom but are still historically low and generally available to those with good credit ratings.
The outlook is similar statewide. A recent release from Florida Realtors said: “Almost every economic indicator suggested that recession remnants had disappeared.”
The association noted that Case-Shiller declared that home prices had surpassed their pre-recession peak. The Realtors predicted a very busy 2017 in real estate around the state.
“A continued economic uptick and new demand from baby boomers and millennials may, however, make 2017 real estate’s ‘best year ever’ — providing more current homeowners decide it’s time to sell,” the release says.
Much of that real estate activity is going to happen in North Florida, Smith said. AV Homes has several projects in Duval and Nassau counties to go along with its St. Johns County sites.
Smith said St. Johns just continues to attract more buyers because of its location, quality of life and school system.
“There’s definitely demand. People want to live where everything is new,” he said. “There’s new roads, new schools. There’s new infrastructure.
“St. Johns County has the most of what is new. And it’s only going to continue to grow.”
Don’t miss the rest of the article, including “a University of Florida study predicted the county’s population to grow from its current 226,000 to somewhere between 273,000 and 365,000 people by 2030” See rest of article HERE
Stuart Korfhage, Dec. 27, 2016. www.staugustine.com “2016 was big year for home building/2017 expected to be bigger”