Q&A with Root Realty
Welcome back to EL’s “Story-tell” series! Our goal is to provide our readers with perspective on company culture, industry trends and overall experience as an entrepreneur. From scrappy beginnings to today — it’s time to be inspired!
We recently had the opportunity to connect with MaryAnne Rodriguez, residential expert, owner + broker at Root Realty, to learn about her 2022 insights on the NE Florida residential market. For those of us in the retail real estate industry, we all know retail follows residential growth. Anyone living in Jacksonville, considering a move or expansion, will find this information fascinating, as we’ve all watched the city grow and continues to evolve so much!
Keep reading to learn more—Let’s get to it!
Q: Can you share your thoughts on the residential growth, supply, pricing, and top zip codes that are seeing the most activity throughout Jacksonville and surrounding areas?
A: Jacksonville is HOT! Temps are up, the sun is out, and the beaches are getting busier. But, when we say Jacksonville is hot, we are also talking about the residential real estate market. Inventory is lower than ever, prices are continuing to increase, and we are seeing some drastic changes in interest rates. More than ever, buyers are flocking to Florida and more specifically Jacksonville, now that a majority of the working population has the opportunity to work remotely. Jacksonville has become such a contender in the housing market because of its affordability compared to other markets, proximity to beaches and other major cities/attractions, and its potential growth and development of downtown.
Covid-19 played a huge role in both out of state and local buyers reconsidering their former housing. Nationally, we saw masses of buyers from out west (California/Arizona), up north (New York/New Jersey) and even parts of the Midwest (Chicago region) who could now work from anywhere or were looking for a life change to a warmer state with still affordable housing. Locally, we witnessed buyers who discovered in quarantine the things they did not love about their current home and with what were historically low interest rates, respectively made the decision to jump into the buyer pool and end up with a home they love. Together, this influx of buyers made it so multiple offers and over list price contracts have become the norm.
We are noticing increased activity across the city as a whole, but some of the most saturated areas are 32205, 32210, 32206 and 32218. Buyers appreciate the historic charm and walkability of these areas, as well as the newer construction and growth as seen on the Northside. Of course areas of St. Johns County are booming with new construction homes that are also experiencing multiple offers and bidding wars, but we are going to focus on some of the areas that are near and dear to our hearts as a business owner and residents. The historic districts boast character, proximity to restaurants, shops, and parks, and buyers value this combination. On the Northside, newer construction neighborhoods provide low maintenance homes and amenities for still affordable prices and proximity to major interstates make commutes/drives convenient. We will continue to see these areas house major traction and sellers will continue to experience multiple offers in these areas throughout the rest of 2022.
Q: What are the top 3 trends you are seeing in residential design that's desirable in today's market and into the future?
A: One of the perks of being a Realtor is that we get to explore and show homes all day long and we have noticed both fun and functional design trends and patterns in our current market. One trend that we cannot get enough of is wallpaper–we are noticing bold patterns and colors, subtle designs, and even textured papers that make all of the difference in a room. We are spotting these trends in kitchens, laundry rooms, bathrooms, accent walls, and office spaces since so many homeowners have the ability to work from home and want a space they can both be productive in and enjoy.
We work with a large buyer demographic who request a multi purpose space, whether to use as an office, guest room, play room, or gym area. There are some buyers who are even converting garage space into finished areas in order to maximize their living/working needs. We recently sold a home to an artist who converted a two car garage into her art studio so that she would no longer need to rent commercial space and could be closer to her children during the day. Buyers are getting creative with space and prioritizing how they spend their time and where.
Lastly, we are seeing many homeowners who have invested time, energy, and money into their outdoor living spaces. Whether that includes a pool, pergola, pavers, turf, or an outdoor kitchen or bbq pit, people are spending more time outside than ever. People want to feel like they are on vacation on their property! From a buying perspective, we work with a lot of customers who prioritize a luxurious backyard at the top of their criteria list. Many mention it’s because they are looking for a place to gather where they can have a fun and relaxing outlet, and nothing is better than home. Personally, we are loving all of these trends. Giving homes a personality and vacation vibes is the best of both worlds.
Q: What are 3 tips and tricks for future homeowners in this market?
A: It's critical in this competitive market that buyers know the tips and tricks in how to successfully secure a home. Here are ours:
- Use an agent you trust. An agent you trust is important- they will be genuinely looking out for your best interest, they will be honest with you, and they will educate and empower you in each step of the way. Your agent should help you to feel comfortable and confident throughout the home buying process!
- Don’t get discouraged. Most buyers do not win the first home they bid on as it can take time to ultimately understand the terms and conditions that will win with many other offers on the table. Share your concerns with your agent but be open to their recommendations, too. With patience and persistence, we can find your perfect home.
- Be willing to compromise. Some things you cannot change, like location, but be open to what trade-offs you might be willing to make or what you can change later down the road. Whether that be cosmetic updates, additional bedrooms/baths, a garage, or even opening your search to different neighborhoods- be sure to keep an open mind in order to potentially have more options in this limited inventory.
About Root Realty
We are in the business of helping our clients with any real estate need- whether that is selling their home quickly + smoothly, searching for an investment property, pointing you in the right direction if you're leaving town, or finding the perfect home and putting down roots in Jax. We look forward to providing our friends, families, and new acquaintances with careful and creative real estate services through a brand and boutique brokerage that represents us best. Featured in USA Today, we take pride in our service, our education, and our commitment to care and appreciate that recognition on a national scale. Locally, we continue to be voted the #1 real estate brokerage in the 904 as seen in the last 3 years in a row.
Our mission is to empower and educate every person before, during, and beyond a transaction and to help ALL achieve their real estate goals. We value more than your home’s value: we prioritize honesty, education, organization, communication, and support every step of the way. Our unique team of strong women advocates for our customers, our community, and one another.
We work hard for you, for each other, and for our families. We love Jacksonville and all it has to offer and feel that our passion for the city shines through in our careers. We created a brokerage that we feel is a positive representation of our values + who we are individually and together as a team.
Root Realty
A: 2574 Herschel Street Jacksonville, FL, 32204, United States
IG: @rootrealtyjax