Top 10 Things To Do on Amelia Island This Summer
Amelia Island is a beautiful barrier island located off the coast of northeast Florida. It's a popular destination for beach lovers, golf enthusiasts, and history buffs alike. In addition to being a top producer realtor on Amelia Island, I love living in Fernandina Beach, Florida and experiencing all the area has to offer including running, paddle boarding, playing tennis, and enjoying the quaint restaurants on Amelia Island. If you're planning to visit the Fernandina Beach and Amelia Island, Florida area this summer, here's my list Top 10 Things to I recommend doing when visiting: Spend a day at the beach. Amelia Island has some of the most beautiful beaches in Florida. With miles of shoreline, surfable waves, shark tooth hunting galore and plenty of sunshine, you're sure to have a great time swimming, sunbathing, and playing in the sand. Explore Fort Clinch State Park. Fort Clinch is a historic fort that was built during the Civil War. It's now a state park and offers visitors a chance to learn about the history of the island and explore the fort's many ruins. Take a walk or bike ride on the Amelia Island Egan's Creek Greenway. The Egan's Creek Greenway is a great place to spot wildlife, get some exercise and enjoy the natural habitat of Amelia Island. Visit the Fernandina Beach Museum of History. The Fernandina Beach Museum of History is a great place to learn about the history of Fernandina Beach. The museum has exhibits on the city's founding, its role in the Civil War, and its development into a popular tourist destination. Take a boat tour of the Amelia River. The Amelia River is a great place to see dolphins, manatees, and other wildlife. There are several companies that offer boat tours of the river. Go fishing. Amelia Island is a great place to go fishing. There are several charter companies that offer fishing trips. You can also fish from the beach or from the pier. Play golf. Amelia Island has several golf courses, including the Amelia Island Plantation Golf Club, which is a world-class course that has hosted several PGA Tour events. Enjoy the nightlife. Fernandina Beach has a vibrant nightlife scene. There are several bars and restaurants that stay open late, and there's often live music playing. Shop at the shops and boutiques in Fernandina Beach. Fernandina Beach has a charming downtown area with a variety of shops and boutiques. You can find everything from souvenirs to high-end clothing and jewelry. Take a day trip to Cumberland Island National Seashore. Cumberland Island is a barrier island located just North of Amelia Island. It's a national seashore and is home to a variety of wildlife, including wild horses, dolphins, and sea turtles. These are just a few of the many things you can do in Amelia Island in the summer. With its beautiful beaches, historic attractions, and vibrant nightlife, Amelia Island is the perfect place to relax and enjoy the summer weather. Have questions about your upcoming visit to the Fernandina Beach/Amelia Island, Florida? Feel free to call/text me at (904) 866-1211 or e-mail me at (904) 866-1211. I'd love to tell you more about the area I call home. ABOUT TOP FERNANDINA BEACH REALTOR COLLEEN GERKEColleen Gerke is a Top Producer Realtor in Fernandina Beach, Amelia Island, Yulee and the surrounding Northeast Florida area. Colleen has a top 5-Star rating on Zillow, Yelp, Realtor.com and Facebook. She strives to be the best real estate agent you’ve ever worked with! Whether you’re looking to sell your house in Fernandina Beach, move to Amelia Island, or add a Florida property to your rental portfolio, you’ll have a stress-free real estate experience when you Close with Colleen.
This Week's Real Estate Tip: Protect Your Technology From Natural Disasters
Hurricane season is here in Fernandina Beach and Amelia Island, Florida, and it's important to be prepared for the worst. That includes protecting your technology from the storm. Here are a few tips: Safeguard your hardware's physical assets. Flood-proof your workspace and secure vital technology in water and fireproof safes. Keep tech away from windows and unplug devices to avoid damage from a power surge or flood. Back up your data. Perform backups routinely and store data remotely. Keep a complete inventory of where your data is stored, especially if you're using multiple platforms or systems. Have a disaster plan in place. Your emergency plan should cover everything you need, including where you can secure a backup laptop or portable power source. Safeguarding your hardware's physical assets The first step in protecting your technology from a hurricane is to safeguard its physical assets. This means flood-proofing your workspace and securing vital technology in water and fireproof safes. You should also keep tech away from windows and unplug devices to avoid damage from a power surge or flood. If you live in an area that is prone to hurricanes, such as here in Amelia Island, Fernandina Beach, Yulee, and the surrounding Nassau County, Florida area it's a good idea to invest in a water and fireproof safe. This will protect your most important devices, such as your computer, router, and modem. You can also buy flood-resistant storage totes to store your other electronics. Backing up your data Another important step in protecting your technology from a hurricane or other natural disasters is to back up your data. This means creating copies of your important files and storing them in a safe place. You can back up your data to an external hard drive, a cloud storage service, or even a USB drive. It's important to back up your data regularly, especially if you're using multiple devices or platforms. This way, if one device is damaged or lost, you won't lose all of your data. Having a disaster plan in place Finally, it's important to have a disaster plan in place. This plan should include everything you need to do to protect your technology in the event of a hurricane. For example, your plan should include where you can secure a backup laptop or portable power source. It's also a good idea to have a list of contact information for your internet service provider, insurance company, and other important businesses. This way, you can get in touch with them quickly if your technology is damaged or lost. By following these tips, you can help protect your technology from hurricanes. This will help you stay connected and productive during and after a storm. BONUS: After any natural disaster, perform a risk assessment to identify what worked, what didn't, and what you should change in the event of another disaster. After any natural disaster, it's important to perform a risk assessment. This will help you identify what worked well in your disaster plan and what didn't. You can then use this information to make changes to your plan so that you're better prepared for the next disaster. Here are some questions to ask yourself during your risk assessment: Did I have a disaster plan in place? Did my plan work? What could I have done better? What changes do I need to make to my plan? By performing a risk assessment, you can help ensure that your technology is protected from future disasters. ABOUT TOP FERNANDINA BEACH REALTOR COLLEEN GERKEColleen Gerke is a Top Producer Realtor in Fernandina Beach, Amelia Island, Yulee and the surrounding Northeast Florida area. Colleen has a top 5-Star rating on Zillow, Yelp, Realtor.com and Facebook. She strives to be the best real estate agent you’ve ever worked with! Whether you’re looking to sell your house in Fernandina Beach, move to Amelia Island, or add a Florida property to your rental portfolio, you’ll have a stress-free real estate experience when you Close with Colleen.
National Real Estate Update for 2023
There’s an old adage in real estate: location, location, location. But ever since the Federal Reserve began its series of inflation-fighting interest rate hikes last year, a new mantra has emerged: mortgage rates, mortgage rates, mortgage rates. Higher rates had the immediate impact of dampening homebuyer affordability and demand, including here in our Fernandina Beach, Amelia Island, and surrounding Nassau County, Florida area. But this year, we’re seeing further repercussions. While analysts expected listing inventory to swell as sales declined, instead, homeowners have been pushing off plans to sell because they feel beholden to their existing, lower mortgage rates. So what impact is this reduced demand and low supply environment having on home values? And what can we expect from the real estate market in the coming months and years? Here are several key indicators that help to paint a picture of the current market and where it’s likely headed. HOME SALES ARE EXPECTED TO PICK UP BY EARLY NEXT YEAR The weather isn’t the only thing that heats up in the spring and summer. Nationally, it tends to be the busiest time in real estate. But this year, the peak season got off to a slow start, with sales declines in both March and April.1,2 Existing home sales in April were down 3.4% from the previous month—and 23.2% from a year earlier.2 What’s causing this market slowdown? Industry experts attribute it to several factors, including near-record home prices, high mortgage rates, and low inventory. According to National Association of Realtors (NAR) Chief Economist Lawrence Yun, “Home sales are trying to recover and are highly sensitive to changes in mortgage rates. Yet, at the same time, multiple offers on starter homes are quite common, implying more supply is needed to fully satisfy demand. It’s a unique housing market.”1 However, some industry experts believe the market is poised for a comeback. Forecasters at the Mortgage Bankers Association (MBA) predict that home sales will continue to fall through Q3 before rising in Q4 and throughout next year.3 Analysts at Fannie Mae expect the recovery to take a bit longer, picking up in early 2024. Meanwhile, home builder confidence is already up, as purchases of new single-family homes surged in March and April to a 13-month high.5 Builder incentives are helping to boost sales: According to the National Association of Home Builders, in May, 54% reported using them to win over budget-conscious buyers.6 What does it mean for you? A slower pace of sales has given buyers some breathing room. If you hated the frenzy of the pandemic-era real estate market, now might be a better time for you to shop for a home. As a top realtor in the Fernandina Beach, Amelia Island and surrouning Nassau County, Florida area, I can help you evaluate your options and make an informed purchase. If you plan to sell your home, prepare yourself for less foot traffic and a longer sales timeline than you may have found a year ago. It will also be crucial to enlist the help of a skilled real estate agent like myself who knows how to draw in buyers. Get a copy of my FREE home sellers guide now! PROPERTY VALUES REMAIN RELATIVELY STABLE Some good news for buyers: While home builder sales climbed in April, the median new-house price fell to $420,800, an 8.2% decrease from a year ago.5 Meanwhile, the median existing-home price dropped to $388,800, down 1.7% year-over-year. Notably, existing-home prices rose in parts of the country but fell in the South and West.2 “Roughly half of the country is experiencing price gains,” explains Yun. “Multiple-offer situations have returned in the spring buying season following the calmer winter market. Distressed and forced property sales are virtually nonexistent.”2 The average national home price remains about 40% higher than it was in early 2020, according to the S&P CoreLogic Case-Shiller index.7 A tight housing supply has helped to buoy prices amidst a slowdown in sales. “While it varies from region to region, home prices at the national level may fall 1% or 1.5% by the end of the year, so not much,” Doug Duncan, senior vice president and chief economist at Fannie Mae, told Yahoo Finance in April.8 Record levels of home equity will help to stabilize the sector and prevent a wave of foreclosures, even as prices moderate, according to Mark Zandi, chief economist at Moody’s Analytics.9 “But for those who have owned a home for more than a year or two, their home will remain a rock-solid investment. And once affordability is restored, the next generation of households can become homeowners. Getting there is critical to the financial well-being of those households, their communities, and the broader economy,” writes Zandi in The Washington Post.9 What does it mean for you? Prices have softened in certain market segments—and motivated sellers are out there and willing to make deals. As a top realtor in the local area, I can help you find your next home in the Yulee, Fernandina Beach, Amelia Island and surrounding Northeast Florida area, and will also help you negotiate a great price. If you’re a homeowner, the surge in home values has slowed, but you’re likely still sitting on a nice pile of equity. In April 2023, the average sale price of a single family home in the Amelia Island, Fernandina Beach and surrounding Nassau County, Florida area is $548,467. Get a FREE instant valuation of your home here. Even if you're not looking to sell your home right know, knowing you're home's value can help you with financial planning, updating insurance coverage, as well as contenplating potential housing moves. LISTING INVENTORY IS LOW, BUT NEW CONSTRUCTION IS ON THE RISE Unsold existing home inventory rose 7.2% from March to April, according to NAR. At the current level of demand, this equates to 2.9 months of supply, which is still well below the 5 to 6 months of inventory required for a “balanced” market.2 Inventory remains tight despite the market slowdown because many would-be sellers are reluctant to give up their lower mortgage rates. “Affordability is not only an issue for first-time homebuyers, but also for many repeat buyers who still need to take on a mortgage,” explains Danielle Hale, chief economist for Realtor.com.10 In a recent survey by the home listing site, 82% of respondents who are planning to both buy and sell a home said they feel “locked in” by their low rate.11 In some areas, new home construction is helping to fill the supply gap. “Currently, one-third of housing inventory is new construction, compared to historical norms of a little more than 10%,” according to National Association of Home Builders Chief Economist Robert Dietz.12 And more new homes are in the pipeline, after a builder slowdown last year. Single-family housing starts rose 1.6% from March to April (seasonally adjusted) and new construction permits hit a seven-month high.13 What does it mean for you? Inventory remains tight, but less competition means more choice and negotiating power for buyers. If you’ve had trouble finding a home in the past, it may be time to take another look. I am happy to help you find a new or exsiting home in the Amelia Island, Fernandina Beach, Yulee and surrounding Nassau County area. Looking to relocate to the Northeast Florida area, upgrade your current Fernandina Beach home or add an Amelia Island property to your rental portfolio? Start your seach for a Northeast Florida home here. Sellers are enjoying reduced competition right now, as well. However, the longer you wait to list, the more competition you’re likely to face. And if you feel locked in by your current, lower mortgage rate, consider this: If you roll your equity gains into a down payment on your next home, you could possibly lower your monthly payment. Curious how much equity you're sitting on? Get a FREE instant valuation of your home here. Then, reach out to me to discuss your options. MORTGAGE RATES MAY FINALLY COME DOWN According to Freddie Mac, the average 30-year fixed-rate mortgage hit a peak of 7.08% in the fourth quarter of 2022, and since then it’s primarily floated between 6 and 7%.14 However, there are signs that rates could trend lower later this year. “Calmer inflation means lower mortgage rates, eventually,” Yun predicted in a recent statement. “Mortgage rates slipping down to under 6% looks very likely toward the year’s end.”15 Other leading economists agree. In its May forecast, Fannie Mae speculates that 30-year fixed mortgage rates will continue to decline, averaging 6.0% in Q4 2023 and 5.4% by Q4 2024.4 Meanwhile, the MBA predicts rates will fall even faster, averaging 5.6% by Q4 2023 and 4.8% by Q4 2024.3 On May 3, the Federal Reserve raised its benchmark borrowing rate by another quarter point—its 10th consecutive increase since March 2022. However, in its corresponding statement, the Fed omitted language from its previous release about “additional policy firming,” leaving many analysts to speculate that the rate hikes may be over.16 Although mortgage rates aren’t directly tied to the federal funds rate, a decision by the Fed to pause rate increases could have a positive effect. In the meantime, buyers should shop around multiple lenders to find the best rate—and buckle up for what could be an exciting ride. What does it mean for you? Mortgage rates may finally trend down, which would be great news for buyers. But, a decrease in rates could correspond with an increase in competition and prices. If you start searching now, you’ll be prepared to make an offer when the time is right. Start your home search here. As a Top Producer Realtor in the Amelia Island, Fernandina Beach, Yulee and Nassau County, Florida area, I can help you negotiate a great deal on your home and potential seller incentives. If you’re planning to sell your home, this is good news for you, too. But, there are several factors to consider when determining the right time to list your home. Contact me today for a free consultation so I can help you chart the best course for selling your home for top dollar, and making it a stress-free experience. TOP PRODUCER FERNANDINA BEACH REALTOR COLLEEN GERKE IS HERE TO GUIDE YOU While national real estate forecasts can provide a “big picture” outlook, real estate is local. And a real estate expert in the local Amelia Island, Fernandina Beach and surrounding Northeast Florida area, I can guide you through the ins and outs of our real estate market and the issues most likely to impact sales and drive home values in your particular Northeast Florida neighborhood. If you’re considering buying or selling a home, contact me now to schedule a free real estate consultation. I’ll work with you to develop an action plan to meet your real estate goals. ABOUT TOP FERNANDINA BEACH REALTOR COLLEEN GERKEColleen Gerke is a Top Producer Realtor in Fernandina Beach, Amelia Island, Yulee and the surrounding Northeast Florida area. Colleen has a top 5-Star rating on Zillow, Yelp, Realtor.com and Facebook. She strives to be the best real estate agent you’ve ever worked with! Whether you’re looking to sell your house in Fernandina Beach, move to Amelia Island, or add a Florida property to your rental portfolio, you’ll have a stress-free real estate experience when you Close with Colleen. The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs. Sources: National Association of Realtors –https://www.nar.realtor/newsroom/existing-home-sales-slid-2-4-in-march National Association of Realtors –https://www.nar.realtor/newsroom/existing-home-sales-faded-3-4-in-april Mortgage Bankers Association –https://www.mba.org/docs/default-source/research-and-forecasts/forecasts/2023/mortgage-finance-forecast-may-2023.pdf?sfvrsn=4bf1d1a7_1 Fannie Mae –https://www.fanniemae.com/media/47006/display U.S. Census Bureau –https://www.census.gov/construction/nrs/current/index.html National Association of Home Builders –https://www.nahb.org/news-and-economics/press-releases/2023/05/lack-of-existing-inventory–boosts-builder-confidence-to-key-marker New York Times –https://www.nytimes.com/2023/04/29/business/spring-housing-market.html? Yahoo Finance –https://finance.yahoo.com/news/mortgage-rates-increase-after-weeks-of-declines-160015631.html The Washington Post –https://www.washingtonpost.com/business/2023/04/22/housing-prices-put-some-out-of-the-market/ CNBC –https://www.cnbc.com/2023/04/20/home-sales-fell-in-march-amid-volatility-in-mortgage-rates.html Realtor.com –https://www.realtor.com/research/2023-q1-sellers-survey-btts/ National Association of Home Builders –https://www.nahb.org/news-and-economics/press-releases/2023/04/lack-of-existing-inventory-continues-to-support-builder-sentiment United State Census Bureau –https://www.census.gov/construction/nrc/pdf/newresconst.pdf Freddie Mac –https://www.freddiemac.com/pmms National Association of Realtors –https://www.nar.realtor/blogs/economists-outlook/instant-reaction-inflation-april-12-2023 CNBC –https://www.cnbc.com/2023/05/03/fed-rate-decision-may-2023-.html
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