Building Company Cites Positive Outlook for Florida Home Loans in Jacksonville

The Florida housing market may be cooling, according to some, but select cities are still facing a hot, bright future. A good example of an area on the upswing: Jacksonville.

The city has attracted a top national luxury home builder, Toll Brothers Inc., because of the availability of land, the region’s amenities and the sheer number of people moving into the region, said an official with the company.

“Jacksonville has a lot of good things going for it,” said Brian Loftus, vice president of Toll Brothers’ North Florida division.

Enter Jacksonville: Florida home loan goals in the area

The builder aims for older empty-nesters and second-home buyers, a segment that has been gobbling up Florida home mortgage loans recently. It constructs luxury single-family and attached homes as well as golf course communities, usually on land it developed.

The business came to the Jacksonville market three years ago in September after having been building in South Florida communities since 1995. The Florida home loan market down south has been healthy for awhile now - now, buyers and business are moving northward.

Toll Brothers focuses on a niche that Loftus characterized as “move-up” buyers — those looking to buy second or third homes. Its dedicated to providing propert to those seeking lofty/luxurious listings.

The spread to North Florida

Toll Brothers now has about 60 employees in North Florida, but expects that number to expand. “It will be increasing as we open up more communities, definitely,” Loftus said.

According to Toll Brothers’ Web site, the builder also is constructing homes in several northwest St. Johns County communities. It’s hoping these make up for the oversupply and reduced prices in other areas of the state.

Northeast Florida may be a bright spot in an otherwise uncertain year in real estate, which some analysts believe is starting to experience a general bubble burst due to rising home prices and Florida home loan rates. It’s worth keeping an eye on if you have interest in a house in the area.