There is not any way to know if home prices have bottomed. That being said, we do know that the prices now are very low and reasonable, therefore it is a good time to buy. Remember owning a home is a long term investment and historically has been a good investment. There are tax benefits as well. With the current Tax Credit extension, buyers moving up or first-time buyers now have a really good opportunity for a great buy. The headlines in the Times Union today (11/24/09 Business Section: Home prices see an upgrade in 1 month) point to an increase of 5% in Median home prices and it was reported that there seems to be a trend for lower priced homes heading back up. Also, specific neighborhoods that are in popular areas or school zones are showing more signs of improvement. (Greenland Chase, Greenland Cove, Aberdeen, Durbin Crossing are a few examples) This may be a great time for home buyer looking to move up into a larger home (or smaller home) or into a better school zone to seriously consider selling and purchasing new construction to have an opportunity to purchase as these still great prices and sell their home during construction.
Arbor Glade off St. Augustine Road by Beazer is closing out with 2 homes left for a bargain (under $300k and they are negotiable).
Richmond American and Magnolia Homebuilders are building in the popular Greenland Cove.
Providence is building in Greenland Chase and has been very successful this year.
New community off Philips Hwy near Kensington is Las Calinas. This is a great ground floor opportunity to purchase in St. Johns without CDD and low HOA fees ($150 last time I checked), but with excellent amenities that include: Swimming pool with cabana, Tot Lot playgrounds with slides , Rec center with BBQ grill, Basketball court, tennis court, sand volleyball court, Fishing pier with covered ramada. This neighborhood also connects to Kensington and Palencia. Beazer is building in this community, click here for info. Holder Johnson is another builder within the community.
These are just a few of the great opportunites to buy New Construction in the Jacksonville area. Contact me for more info about these or new subdivisions in other parts of Jacksonville and St. Augustine.