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St Augustine’s Real Estate, Then & NowSpring 2024Cover Photography by The Real Estateographers
200 Center Creek Road(Lewis Spreedway. One block north of entrance to St. Augusne High School)2303 N. Ponce De Leon Blvd.(4 blocks South from SR16, across the street from the Shell-Mart)904.342.5609VISIT US AT EITHER OF OUR STORE LOCATIONSWe accept All Synchrony Home Accounts Special Financing, Zero Interest up to 60 MonthsSt. Augusne’s Best Selecon of Furniture“White Glove Delivery Service”
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WELCOME TO THIS SPECIAL SPRING EDITIONWelcome to this special spring edition of our magazine, a tribute to the enduring charm and historic beauty of downtown St. Augustine. As we embrace the warmth and vibrancy of the season, we are reminded of the rich tapestry of history, culture, and community that makes our city truly unique.At Great Expectations Realty, we believe the foundation of real estate is not just in the transactions we facilitate but in the relationships we build and the communities we help to nurture. Your trust and partnership are the cornerstones of our success, and we are deeply committed to honoring that trust with integrity, passion, and unparalleled service.Spring in St. Augustine is a season of enchantment. The historic streets come alive with the buzz of festivals, art shows, and music, reecting the spirit of exploration and discovery that has dened our city for centuries. The lush landscapes and stunning architecture provide a backdrop for memories in the making, inviting residents and visitors alike to experience the magic of our community.This edition is dedicated to you – our valued customers and friends. Inside, you will nd a carefully curated selection of articles designed to inform, inspire, and entertain. From insightful market analyses to tips on enjoying these spring months in our historic downtown, we hope to provide you with valuable content that enriches your experience and deepens your connection to this remarkable place we call home.As we look ahead to the coming months, we are excited about the opportunities to further serve you and contribute to the vibrant tapestry of St. Augustine. Whether you are buying, selling, or simply dreaming of your next adventure, we are here to support you every step of the way.Thank you for allowing us to be a part of your journey. Here’s to a spring lled with beauty, discovery, and lasting memories in the heart of St. Augustine.Warmest regards,Jena DennisProprietressGreat Expectations RealtyEstate Publishing Corp.PublisherCharles ZitsmanInfo@EstatePublishing.org(904) 377-5725Associate PublisherJena Baker-DennisContent CoordinatorMeeka CookPhotographic ContributionsThe Real Estateographers 904-770-5262 TheRealEstateographers.comAny content, articles, advertising, or any other submitted materials are not necessarily endorsed by or represent the views of Great Expectations Realty or Estate Publishing and shall not be held responsible for the reliability, suitability or timeliness of any content submitted. All content is done so at the sole discretion of the submitting party. 5-04-24© 2024 Estate Publishing. All Rights Reserved.Table of CONTENTS05Preferred exPerT Index06from forgoTTen To flourIshIng: The hasTIngs revITalIzaTIon Journey08your home Is a Powerful InvesTmenT10CallIng all InvesTors!!12meeT sTePhanIe hannon14a CulInary revoluTIon: The evolvIng TasTe realTy sT. augusTIne17PIP’s Corner of uPComIng evenTs904-823-3456Great Expectations Realty4904-823-3456GErealty.US
Preferred Expert IndexCategory Company Contact Phone WebsiteCommercial Photography The Real Estateographers Sco Golmic 904-770-5262 TheRealEstateographers.comFlood, Mold, Fire, Bio Hazard PuroClean of Jacksonville Wayne Terry 904-573-3566 PuroCleanofJax.comFlooring About Floors n' More Rick Costner 904-361-3508 AboutFloorsnMore.comFurniture Everything Cool Gloria Wood 904-342-5609 1CoolStore.comInsurance Services The Browning Agency Jim Browning 904-285-3430 BrowningAgency.comMortgage Lending First Coast Mortgage Funding Amanda Solari 904-607-7187 TheSolariTeam.comMoving Services Happy 2 Help Moving Devin Vangel 904-209-9277 Happy2HelpMoving.netProperty Inspecons KC Inspecons Kyle Cali 904-404-9092 KCinspeconsFL.comPublic Adjusters Gold Star Adjustors Mark Goldwich 904-406-7232 GoldStarAdjusters.comPublishing & Prinng Estate Publishing Corp Charles Zitsman 904-377-5725 EstatePub.comReal Estate, Businesses & Aucons Great Expectaons Jena Baker-Dennis 904-823-3456 GErealty.usReal Estate Legal Services St. Johns Law Group Araan Burne 904-495-0400 SJLaw Group.comRestaurant Raintree Restaurant Lorna McDonald 904-824-7211 RainTreeRestaurant.comRoong Big A Roong Ausn Strickland 386-385-3985 BigARoong.conTitle Insurance Paradise Title Pam Gesell 904-471-2553 ParadiseTitleStAug.comTitle Service Land Title of America Steve Collins 904-797-9600 GoLandTitle.com5904-823-3456GErealty.US
The Hastings Revitalization JourneyJust a short half-hour drive from St. Augustine, the small rural agricultural community of Hastings is undergoing a renaissance. Hastings Main Street Inc., a dedicated nonprot group focused on economic development and historic preservation, is at the forefront of this revitalization effort. Hastings’s transformation is more than restoring buildings; it’s about reviving a community’s soul.The spark for this ambitious project was ignited when Jena & Allyn Dennis stumbled upon Hastings while looking for a commercial building to buy. Instantly falling in love with a historic building, they saw a vision for the town that couldn’t be ignored.“It was the catalyst that began a several-year project of us buying and restoring that building and others,” Jena explains. Each structure, she notes, is an “architectural beauty,” a testament to the town’s historical signicance.The founding of Hastings Main Street Inc. was a pivotal moment, marking a collective effort to rejuvenate the town economically and historically. “We made many friends locally and started falling in love with the community,” Jena shares. This blossoming relationship with Hastings and its residents fueled their endeavors, from restoring buildings to reviving the culturally signicant cabbage and potato festival.Jena reects on the town’s past challenges with a clear-eyed view. “When we rst got to Hastings, there were a lot of vacant buildings...It just felt like a lot of the downtown Hastings area had been abandoned.” The dissolution of Hastings in 2018 and subsequent infrastructure improvements by St. Johns County were necessary and sparked the revitalization. By Jena Baker-DennisI foresee a thriving community with shops, cafes, and a venue in the historic Stanton Ford building. It’s a mix of healthy growth to support the community and its economic needs without overcrowding.6904-823-3456GErealty.US
“Most of the folks that lived in the community were paying exorbitant utility fees,” Jena points out, highlighting the urgent need for change.Jena envisions a vibrant and inclusive future for Hastings. “I believe we will see major changes over the next two years,” she says optimistically. “I foresee a thriving community with shops, cafes, and a venue in the historic Stanton Ford building. It’s a mix of healthy growth to support the community and its economic needs without overcrowding.”Already in the works are a new community library, a revitalized high school building for First Coast Technical College, and several new businesses. Projects like the historic style lamp posts and paver initiatives are all signs of the building momentum of the town’s revival.If you want to learn more about these revitalization efforts, visit Hastings.org. Jena says, “Whether you volunteer, participate in community events like the Great Mow Down - Lawn Mower Races, or simply visit to support local businesses, every effort counts.”As Hastings continues to be reimagined, it preserves history and shines a light on a promising future.7904-823-3456GErealty.US
Going into 2023, there was a lot of talk about a possible recession that would cause the housing market to crash. Some in the media were even forecasting that home prices would drop by as much as 10-20%, which might have made you feel a bit unsure about buying a home.But here’s what happened: home prices increased more than usual. Brian D. Luke, Head of Commodities at S&P Dow Jones Indices, explains:“Looking back at the year, 2023 appears to have exceeded average annual home price gains over the past 35 years.”YOUR HOME IS A POWERFUL INVESTMENTContributed by Great Expectations RealtyTo put last year’s growth into context, the graph below uses data from Freddie Mac on how home prices have changed yearly since 1980. The dotted line shows the long-term average for appreciation:8904-823-3456GErealty.US
The big takeaway? Home prices almost always go up. As an article from Forbes says:“. . . the U.S. real estate market has a long and reliable history of increasing in value over time.”In fact, since 1980, the only time home prices dropped was during the housing market crash (shown in red in the graph above). Fortunately, the market today isn’t like it was in 2008. For starters, there aren’t enough available homes to meet buyer demand right now. On top of that, homeowners have a tremendous amount of equity, so they’re on much stronger footing than they were back then. That means there won’t be a wave of foreclosures that causes prices to fall.Home values went up every year except those four in red, so owning a home can be one of the smartest moves you can make. When you’re a homeowner, you own something that typically becomes more valuable over time. And as your home’s value appreciates, your net worth grows. So, if you’re nancially stable and prepared for the costs and expenses of homeownership, buying a home might make a lot of sense for you.Bottom LineHome prices almost always go up over time. That makes buying a home a smart move if you’re ready and able. Let’s connect to talk about your goals and what’s available in our area.9904-823-3456GErealty.US
CALLING ALL INVESTORS!!Contributed by Amanda SolariDebt Service Coverage Ratio (DSCR) loans are a type of nancing that lenders use to evaluate a borrower’s ability to pay back a loan based on the cash ow generated by the property for which the loan is being sought rather than primarily focusing on the personal income of the borrower. This kind of loan is particularly common in commercial real estate nancing, but it’s also used in residential real estate under certain circumstances. Here’s an in-depth look at DSCR loans, how they work, their benets, and considerations for potential borrowers.What is a DSCR loan?The Debt Service Coverage Ratio (DSCR) measures the cash ow available to pay current debt obligations. It is calculated by dividing the annual net operating income (NOI) by the annual total debt service (the total principal and interest payments for the year). For example, if a property generates $120,000 in NOI and has an annual debt service of $100,000, the DSCR would be 1.2.DSCR loans can be applied to various types of properties, including single-family rentals, multi-family units, commercial properties, and mixed-use buildings. The exibility of DSCR loans makes them an attractive option for investors looking to nance properties with strong rental income potential. This is a great way to create passive property income for yourself. Benets of DSCR LoansOne of the main advantages of DSCR loans is that they focus on the income generated by the property rather than the borrower’s personal income. This can be particularly benecial for real estate investors who own 10904-823-3456GErealty.US
multiple properties and may not qualify for traditional loans based on their income alone. DSCR loans offer exibility in terms of credit requirements and down payment amounts. Since the loan approval is primarily based on the property’s cash ow, investors with strong rental properties can qualify for nancing even with less-than-perfect personal nancials. The approval process for DSCR loans can be faster than traditional mortgages because it focuses on the property’s income potential rather than the borrower’s personal nancial history. This speed can be a signicant advantage in competitive real estate markets where quick closings are crucial.In conclusion, DSCR loans provide a valuable nancing option for real estate investors. They offer exibility and focus on properties’ income-producing potential rather than personal nancial metrics. While they come with certain risks and may carry higher costs than traditional loans, their benets can be signicant for investors looking to expand their portfolios or invest in properties with strong rental incomes. Our team would love to help you start building your nancial wealth through property building today! The Solari TeamAmanda SolariNMLS#1027040www.thesolariteam.com904.607.7187 directasolari@rstcoastmtg.com11904-823-3456GErealty.US
Meet Stephanie HannonBorn and raised in Yorkshire, England, Stephanie has always had an adventurous spirit. After earning a bachelor’s degree in European Politics from the University of Leeds, she set out to explore the world.Having visited nearly 60 countries, Stephanie found Southeast Asia particularly enchanting. Thailand stole her heart with its vibrant culture and delicious food, sparking a lifelong love for travel. She went on to live in Sydney, Australia, where she worked to save more money and continue her adventures. Her travels through New Zealand and South America forged her resolve to continue. Between her travels, she worked back home at Bradford College as a project manager for government funding, helping young people pursue higher education, a cause still close to her heart. To ensure she could continue traveling, she got certied to teach English abroad.The next trip would be a road trip across Eastern Europe in an old Citroen BX. The car was not expected to last; just go as far as possible. Due to inclement weather, she soon realized winter may not be the right time for this journey. So many wonderful experiences were offset by snowstorms. A Serbian police ofcer had to be bribed for the return of her passport, and she was robbed on the street in Soa, Bulgaria. The car was close to death and was discretely abandoned. She faced a new challenge after nding out she could not legally leave the country without the vehicle. With the risk of total car failure, she drove from the black sea to Yorkshire, England, in three days and arrived the day after Christmas to surprise her family, the same day the tragic 2005 tsunami struck Southeast Asia. For Stephanie, education is essential to opportunity. Her adventures have shown her that travel is the best education. Her experiences have taught her never to miss an opportunity and that commitment to places and people will always bring success.12904-823-3456GErealty.US
Stephanie’s year-long plans were thwarted, but the tragic tsunami was a sign to her that she was needed elsewhere. She ew straight to Bangkok, Thailand, and volunteered on Phi Phi Island clearing the streets and searching for remains. Here, she would make some of the best friends she would ever have. One friend inspired her to head to Tokyo, Japan. In Tokyo, she taught English at Nichidai Daigaku, one of the most prestigious universities. A year-long plan turned into a 10-year lifetime. Japan became her home. She is proud to say she learned the language, contributed to a famous Japanese/English dictionary, and wrote for a national newspaper. She would go on to nd love at a baseball game in Yokohama. She met her husband, a U.S. Navy submariner, in Yokohama. He proposed on a beach in Bali. After two years of planning, they married in Spain and settled in Norfolk, Virginia.Now settled in Jacksonville with her husband and young son, Stephanie was able to commit to a career in real estate. She is a Military Relocation Specialist in her fourth year in the industry. Stephanie is committed to continued education and improvement and recently achieved the GRI accreditation. For Stephanie, education is essential to opportunity. Her adventures have shown her that travel is the best education. Her experiences have taught her never to miss an opportunity and that commitment to places and people will always bring success.13904-823-3456GErealty.US
The Evolving Taste of St. AugustineRecently Jena Dennis, the Broker Owner at Great Expectations and Chef Ellie Rose, one of the top chefs in St Augustine met up at a local coffee house to discuss the culinary changes sweeping through downtown St. Augustine. Over the past decade, this historic city has transformed from a landscape dominated by chain diners to an eclectic collection of ne dining experiences, artisan cafes, and global cuisine. As some locals passionately describe it, this revolution is reshaping the city’s diners’ plates and its very identity.This sentiment is echoed in conversations with those long time residents who have watched the city’s food scene evolve from the ground up. St. Augustine is on a journey of taste and texture, from the inviting kitchens of longstanding establishments to the innovative spaces pushing culinary boundaries fueled by tradition and innovation.“In the last ten years, there’s been a revolution in local restaurant businesses and the quality of the dishes served,” said Chef Ellie Rose, highlighting the city’s journey from traditional to cutting-edge culinary destinations. The internet and social media have been pivotal, opening a window to global food trends. “Restaurants have become more innovative thanks to the digital world,” the Chef noted; acknowledging the role of technology in spurring kitchen creativity. The deep appreciation for the dining Chef Ellie RoseJena Dennis14904-823-3456GErealty.US
Uptown Casual Dining102 San Marco Ave., | St. Augustine, Fl 32084 (904) 824-7211 | RaintreeRestaurant.comEnjoy Dining in Our Expansive CourtyardSunday Brunch | Dinner | Indoor Dining | Full Bar Free Parking Availableexperience—savoring meals, sharing moments, and prioritizing quality ingredients—marks the true essence of this transformation. Jena and Ellie recalled a time, not long ago, when the city’s cuisine was far less diverse, back then, there wasn’t a Thai restaurant, just one Chinese fast-food place, they reminisced, emphasizing the signicant expansion of St. Augustine’s culinary landscape.Not surprisingly, real estate plays a crucial role in this evolution, with property values for restaurant spaces reecting the growing demand for diverse culinary offerings. “A building sold just a few years ago for maybe a third of its current value,” Jena shares, pointing out the increasing investment in dining venues.As St. Augustine’s food scene matures, it’s also becoming more inclusive, with vegan and vegetarian options becoming staples. “People are more health-conscious and concerned about where their food comes from,” Jena highlights the shift towards meals using locally sourced ingredients.According to Jena, what truly captures the spirit of St. Augustine’s culinary revolution is the communal table it sets for all. From the bustling streets of downtown to the emerging food hubs in Lincolnville and uptown, everyone is welcome to partake in this gastronomic journey. “Everyone, regardless of dietary restrictions, can enjoy dining out now,” Jena states, emphasizing the city’s diversity.From chain diners to gourmet experiences, from forgotten corners to culinary destinations, it is a revolution, indeed, one plate at a time.These two women have been extensively involved in the downtown St Augustine culinary evolution. Jena, has represented both buyers and sellers regarding several downtown restaurant properties, and Chef Ellie has worked with several local dining establishments and is currently the Executive Chef at the new specialty uptown restaurant, Chez L’amour.15904-823-3456GErealty.US
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PIP’S CORNER OF UPCOMING EVENTSFlorida’s Birding & Photo Fest• Dates: April 24-28• Location: Celebration Hall at St. Anastasia, 5205 A1A South, St. Augustine Beach• Overview: A ve-day event featuring over 100 activities focusing on birding and outdoor photography. Insights from international photographers. More info at oridasbirdingandphotofest.com.Love Your Mother Eco Fashion Show• Date: April 27• Time: 6-10 p.m.• Location: Bluewater Jewelers, 500 Anastasia Blvd., Anastasia Island, St. Augustine• Details: An evening of fashion and community to benet Matanzas Riverkeeper, hosted by Panache. Tickets and details are available online.Roscolusa Songwriters Festival• Date: April 27• Time: 5-10 p.m. (Gates open at 4 p.m.)• Location: 232 Nocatee Center Way, Ponte Vedra• Description: Nashville songwriters perform and share stories. Local food trucks, vendors, and a Kid’s Corner. General admission $25, VIP $100. Visit roscolusa.com for more.Cabbage, Potato and Bacon Festival• Dates: April 27-28• Location: Downtown Hastings• Features: Celebrate agriculture with farm-to-table demos, cooking competitions, local traditions, live music, and more. Free admission, with special events ticketed. Full details at hastings.org.17904-823-3456GErealty.US
The Taste of St. Augustine• Date: April 28• Location: St. Augustine Amphitheatre• Info: Sample dishes from the area’s top restaurants, compete in the TOStA awards, and enjoy live music. Admission $5, taste tickets $1 each. More at epicbh.org.Romanza Festivale of Music + Arts• Dates: May 3-19• Details: A celebration of arts and culture with concerts and arts events spanning three weekends. Schedule of events at various locations. Info at romanzafestivale.com.STA Brewers’ Fest• Date: May 4• Time: 1-5 p.m.• Location: Fountain of Youth Archaeological Park• Details: Unlimited samples from over 25 breweries, live music, and food trucks. Benets local nonprots. GA $45, VIP $100. Visit stabrewersfest.com.Unidos En La Música: A Latin American Festival• Date: May 4• Time: 10 a.m. to 10 p.m.• Location: Francis Field, downtown St. Augustine• Features: A celebration of Latin American culture with music, food, dancing, and more. Tickets & details at unidosenlamusica.com.St. Augustine History Festival• Dates: May 8-12• Description: Explore over 20 historic properties and enjoy various events and lectures. Showcases every era of the city’s past. Details at staugustinehistoryfestival.com.St. Augustine Food & Wine Festival• Dates: May 8-12• Overview: Culinary showcase featuring celebrity chefs, wine tastings, master classes, and more. Tickets & info at staugustinefoodandwinefestival.com.Sunower & Tomato Festival at Wesley Wells Farms• Date: May 11• Time: 9 a.m. to 4 p.m.• Location: 2680 Ada Arnold Rd, St. Augustine• Activities: Family fun, food trucks, live entertainment, and u-pick owers and veggies. Details at wesleywellsfarm.com.St. Augustine Pub Crawl 80s Style• Date: May 16• Time: 7 p.m.• Location: Downtown St. Augustine at various pubs• Details: $15 tickets include costume contest entry and digital photo keepsake. RSVP at pubcrawlsta.com.As If! 90s Fest• Date: May 18• Time: 1 to 9:30 p.m.• Location: Francis Field, St. Augustine• Features: 90s music, vendors, food trucks, and entertainment. Tickets & info at asifthe90sfest.com.Music & Art by the Sea• Dates: May 22-Oct 2 (select Wednesdays)• Location: St. Augustine Beach Pier• Details: Live music, local food trucks, and art. Music starts at 7 p.m., and food trucks at 6 p.m. Schedule at freebeachconcerts.com.St. Augustine Music Festival Juneteenth Concert• Date: June 19• Location: Lewis Auditorium at Flagler College• Highlights: Marcus Roberts Trio performs with the Festival Chamber Orchestra. Tickets & more info coming soon at staugustinemusicfestival.org.St. Augustine Music Festival• Dates: June 21-23 and June 28-30• Location: Cathedral Basilica of St. Augustine• Details: Free concerts featuring classical/chamber music. More info at staugustinemusicfestival.org.AROUND PIP’S CORNER18904-823-3456GErealty.US
Spring 2024