Real Estate

City admits error in demolishing historic homes

Jacksonville, Fla. -- You see the hearts throughout Springfield - painted on historic homes in foreclosure, or structures threatened with demolition. But the group behind the hearts - Preservation Save Our Springfield -- has found the biggest threat to homes isn't time or decay - it may be the city's failure to follow the rules.

On May 23, the house at 129 East 2nd Street came crashing down. Built in 1905, the two story home had been targeted by Springfield advocates for preservation. 

Just 24 hours before it was demolished, the city's Historic Planning Commission had approved a request from Preservation SOS to seek to shore up the home, rather than see it destroyed.
The city chose to proceed with the tear-down.

Then, less than 30 days later, another demolition 253 E. 2nd Street - just one block away.

Bank of America Hosts Home Loan Workshop

JACKSONVILLE, Fla. -- More than 5,000 homeowners on the First Coast, behind more than 60 days on their loans, have been invited by Bank of America to explore options at a free mortgage outreach.

Bank of America says 400 homeowners registered to take part in the workshop being held at the Omni Hotel Downtown. 

"Our average loan workshop success rate is 30%," said Bank of American spokesperson Jessica Garcia.

Garcia says the rate would be higher for loan modifications except in many cases homeowners are missing some needed documentation.

William from Jacksonville Beach attended the workshop and said that was the case with him.

"That was kind of frustrating because I could have printed it out," said William who preferred we not use his last name.

Bank of America offers loan modification deals that involve lowering the interest rate and extending the length of the mortgage.

July 2011 Real Estate Sales Results; Closed Sales Dip One Percent

July 2011 Real Estate Sales Results; Closed Sales Dip One Percent

The Northeast Florida Association of Realtors (NEFAR) announces real estate market statistics for July 2011. Statistics encompass both single-family residential and condo sales.

Pending sales of 1,661 in July marked an 18.3 increase from a year ago; indicative of continued consumer interest in buying a home at today’s very attractive prices. Actual closed sales of 1,353 took a one percent dip from last July’s 1,367.

Local Builder Sees Improved Market; Buys Springfield Lots

Local Builder Sees Improved Market; Buys Springfield Lots


JACKSONVILLE - It's been a tough market for homebuilders.  There's been such a glut of existing homes on the market there was no need to build new ones.  But one local builder says he's seeing signs of life. "Sales have definitely picked up this summer," says John Wells, owner of Lowcountry Classics.  His company specializes in building replica homes from the 1920's and 30's in established neighborhoods like Avondale.

June 2011 Homes Sales Figures Released; Pending Sales Increase 34 Percent

The Northeast Florida Association of Realtors (NEFAR) announces real estate market statistics for June 2011. Statistics encompass both single-family residential and condo sales.

Park View Inn Demolition Underway

Park View Inn Demolition Underway

JACKSONVILLE, Fla. -- What was once a downtown landmark, but more recently viewed by many as an eyesore, is being reduced to ruble.

The Park View Inn on State Street is being demolished to make way for a parking garage that developers say will support retail shops along State and Main streets.

"I think the residents of Springfield are glad to see this come down," said Rob Vergnolle, project manager for demolition.

A $300,000 federal grant is helping pay for the demolition work with the condition that retail shops be brought in within five years.  If that doesn't happen, the owner will be responsible for repaying the grant.

The time table for demolition work is to have the five story hotel cleared by Labor Day.  What will remain is two floors that will support a parking garage.

The demolition debris of concrete and steel is being recycled, according to the project manager. 

Pending Home Sales Increase Nearly 40 Percent, Actual Sales Down 10.6 Percent

Pending Home Sales Increase Nearly 40 Percent, Actual Sales Down 10.6 Percent

The Northeast Florida Association of Realtors (NEFAR) announces real estate market statistics for May 2011. Statistics encompass both single-family residential and condo sales.

A 33.9 percent year-over-year increase in pending sales (those on which contracts are written but the sale has not finalized) demonstrates strong consumer interest in homeownership. There were 1,311 pending sales in May 2010 which increased to 1,756 this May. Closed sales went in the opposite direction, declining from 1,544 last May to 1,381 this May for a 10.6 percent drop.