Miller Report June 2020

THE

MILLER REPORT June 2020

The

Miller Group

Your Trusted AIP Realtors

IT'S MILLER TIME! JUST LISTED! 22 OCEAN CLUB DRIVE

A custom designed eco-home for the ages on prestigious Ocean Club Drive. Featuring exterior walls of insulated concrete form (ICF) providing one of the strongest and quietest assemblies. This 2015 hi-tech yet simple to manage geo-thermal home with impact resistant windows/doors and solar panels is incredibly energy efficient. With 4,897 square feet of living space, the monthly average electric bill for the past 12 months was only $74. Yet where this home truly excels is with its floor plan and finishes. Beautiful travertine floors, coffered vaulted ceilings, a large private owner's suite including an office, a separate guest wing with two bedrooms and baths, and a kitchen that a chef would appreciate are all located on the main living floor. A covered private back deck offers sunset views. The entry floor living space could easily be made into a 4th BR private guest suite . An elevator chase was built in allowing for easy addition. Only a short walk to the beach and spectacular new Ocean Clubhouse.

For 24/7 prerecorded information about this listing, call 1-833-491-0887 ext 1015

IT'S MILLER TIME! JUST LISTED! 119 MARSH CREEK ROAD

If you are looking to experience all the lifestyle benefits (and more) of living within the Amelia Island Plantation this is your best opportunity. Incredible landscaping, a spectacular courtyard with enclosed private pool greets you as you enter through the courtyard door. This home was designed for entertaining. It is located on a golf course with wonderfully hedged screening for privacy. It features vaulted ceilings with open beams with an abundance of glass to allow ample light. The floor plan is ideal with a main level master bedroom suite and a private study. Upstairs are two bedrooms and two full baths. The home also has a two-car garage. Perfect Amelia Island lifestyle home!

For 24/7 prerecorded information about this listing, call 1-833-491-0887 ext 1035

IT'S MILLER TIME! We are excited to announce that as of May 20th 2020, The Miller Group has sold or put under contract more Amelia Island Plantation properties in dollar volume than any other Realtor! We thank all of our clients and community for your continued support!

FEATURED LISTINGS 8 Sound Point Place Long Point Amelia Island Plantation $3,200,000

2 Salt Marsh Drive

2091 Beach Wood Road

Amelia Island Plantation

Amelia Island Plantation

JUST SOLD!

JUST LISTED & PENDING

$1,400,000

$519,000

PLANTATION STATISTICS

PLANTATION ANALYSIS Within the Amelia Island Plantation, sales were down in April 2020 by just two closings compared to the previous year. The number of new pending sales were down 41.7% and the number of new listings were down 60.9%. This is about what we expected considering the state went into lockdown in early April. What's interesting is that of the 12 new pending properties in April 2019, 3 were lots purchased by builders for spec homes. If you remove these three lots from the equation, new pending sales of existing homes were only down 1 which is true for condos as well. So the number of new pending sales of homes and condos combined was only down 20% for AIP. We look at this metric as it is an indication of future property sales. With new pending sales outpacing the number of new listings, inventory of available properties for sale will continue to shrink from already historic lows. As long as this trend continues and demand remains stable, property values should be protected and could even increase. We think this will be the case through the summer months but then the market could cool in the fall as the economic ramifications of shutting down our economy begin to take effect.

STAY INFORMED! Subscribe to the Miller Group Real Estate Show to receive frequent updates about our local real estate market. We produce our podcast weekly so it is the best way to get your pulse on the local market. There are two ways to subscribe: 1.) Go to our website, www.MillerGroupOfAmelia.com/the-millerreport/ to subscribe. 2.) Text Miller Report to 31996 and we'll send you a link to subscribe.

HOME TRENDS What will homebuyers want post COVID-19? Here are a few trends to expect. 1. Less Dense Living After going through a pandemic, people may opt for a single-family home over a condo, co-op, town home or other multifamily arrangement. People might not like having to access their homes through a common area. However, we think this trend will apply more towards high-rise condominiums in urban area like New York City and Miami rather than lower-density condominiums like the ones we have here in the Amelia Island Plantation. We definitely think that the less dense living trend will encourage buyers to move out of urban areas into surrounding suburbs for more spacious living.

2. Functional Spaces Being cooped up may give way for the need to have a place with a flexible floor plan, like a bedroom that can become a home office. People might want to have a house with two masters suites, in case someone in the household gets sick and needs to be quarantined or to accommodate an elderly relative who needs to be brought out of a nursing facility. A bonus suite separate from the main house might also be in demand as multigenerational families live together to reduce expenses during times of economic uncertainty. We anticipate AIP property owners might consider buying a second property that can serve as a vacation rental as well as house extended family during visits.

3. Amenities Spending loads of time at home with limited ability to travel in the immediate and nottoo-distant future means the need for more spaces to use for relaxation, fun, exercise and meditation. People are less likely to question the necessity of these features. Instead, they'll consider them a requirement. Summer or outdoor kitchens may also gain popularity, since people might want another space to cook in besides their indoor kitchen. (Continued on next page.)

HOME TRENDS Buyers may also look for properties with large outdoor bar and pool areas where they can relax and enjoy meals and happy hours. Massage rooms, yoga or dance studios along with home movie theaters may also be in demand. Backyard putting greens, sports courts, and other recreational areas may provide a perfect escape. For water enthusiasts, homes with a boat slip, dock and boat lift will allow you to have a playground right outside your door and enjoy hours of fun on the water in your boat or jet ski. No marina needed. Having access to a private club like the Amelia Island Club which can provide these type of amenities will also be more important to buyers in the future.

4. Location As Jimmy Buffet sang in "Changes in Latitudes, Changes in Attitudes," this experience may drive some people to relocate altogether or to finally buy that second home. Since flexible work arrangements will likely become more common, along with uncertainty regarding the future, people may choose to put their money towards their dream "shelter-in-place" escape. Properties that offer the ability to enjoy an outdoor lifestyle in opportune climates will likely become on trend. Mountain, lake, desert, beach and coastal properties may provide the muchneeded escape and the chance to experience an entirely new lifestyle several months of the year - if not as a full-time residence. Along these lines, people may look to buy a second home that can be monetized as a vacation rental to offset costs and provide some income. Buyers may also seek locations known to promote a healthy living environment, parks and walkable neighborhoods. Access to good healthcare may be paramount. Properties or communities with their own private airstrips, helicopter landing pads, or easy access to non-commercial airports to accommodate private jets could also become highly sought-after by the uber wealthy. As we transition to a reopening of the U.S., homes and locations that fit the above, like the Amelia Island Plantation, may be well-positioned to take advantage of a positive market momentum.

For a list of properties which are poised to take advantage of the above trends, give us a call! 904-557-5720

A WEDDING TO REMEMBER Life is full of surprises and things never go exactly how you plan them. Carrie and I had planned and looked forward to our wedding for months. It was to be a time of joy with family and friends coming in from all over the country and a few from as far away as Australia and Germany. But COVID-19 had other ideas of what our wedding would be and of course plans had to be changed. We had plan A, then plan B and so forth until we finally decided the most important thing was to be married. We did just that in a ceremony outside overlooking the ocean (not on the beach) and with just immediate family and a few friends…safely and abiding by the guidelines. It was beautiful and I want to thank everyone who offered their thoughts and prayers. We plan on having a big affair at a later date at the Ocean Club when things are back to normal. Through all of this, I learned a few lessons that I would like to share with our readers: 1.) Focus on what is truly important. While pretty flowers, showy outfits, and all the other traditional wedding accoutrements are fun, what really matters is the person you are marrying and your commitment to God and to each other. It's okay to enjoy the pomp and circumstance, but never forget to focus on what is essential. This lesson can be applied to many things in life. 2.) This too shall pass. Sometimes life throws you a curveball. Adapt as best you can, stay true to your principles, and keep moving forward. Things always works out for the best in the long run. 3.) Family, friends, and community are precious resources. It was amazing to see all of the support we received from others. It helped Carrie and I tremendously as we faced tough decisions. Always treat this special group of people as your most valuable asset.

THE MILLER GROUP REAL ESTATE SHOW PREVIOUS EPISODES APRIL 2020 MARKET UPDATE, VACATION RENTALS, & WHAT COMES NEXT EXCLUSIVE INTERVIEW, WELLS FARGO SENIOR ECONOMIST MARK VITNER | ECONOMIC OUTLOOK 2020 & BEYOND THE EXCITING FUTURE OF NASSAU COUNTY: AN INTERVIEW WITH LAURA DIBELLA SHORT COURSES - THE NEWEST CRAZE IN GOLF: AN INTERVIEW WITH JOHN AND DARCY LYBERGER

www.millergroupofamelia.com/podcast-2/

THE MILLER GROUP REAL ESTATE SHOW JUST RELEASED! MAY UPDATE: BUYERS ARE BACK ON AMELIA ISLAND! On this episode of the Miller Group Real Estate Show, James reviews the May real estate market for Amelia Island and Nassau County. As lockdowns lift and the state reopens, buyers are coming back into the market. Mortgage purchase applications are up over May last year and already low inventory of available properties shrinks further. Please subscribe to our podcast on iTunes! Thank you for listening.

EXCLUSIVE INTERVIEW: FOUNDER & CEO OF PONCE DE LEON HEALTH AND AMELIA ISLAND RESIDENT TOM WELDON In this episode of the Miller Group Real Estate Show, Dave and James interview Amelia Island resident Tom Weldon about his work at Ponce de Leon Health. Ponce de Leon Health is dedicated to researching and commercializing drug-free solutions that are scientifically shown to extend overall longevity, while simultaneously increasing the health and quality of years throughout life span. Their product, Rejuvant, can be purchased by visiting www.rejuvant.com. Please enjoy listening to one of Amelia Island's special residents. We are so blessed to call this wonderful island home!

To listen to this episode, go to our website and click on the podcast link in the top menu or type in this URL: https://www.millergroupofamelia.com/podcast-2/

www.millergroupofamelia.com/podcast-2/

Who do you know that needs help buying or selling real estate? We would love to help them!

The Miller Group

James Miller 904-557-5720 jdmiller8@outlook.com Dave Miller 904-206-0525 dfmillerjr54@gmail.com