Emerald Coast Real Estate Update

Trusted Real Estate News Blog

Jan. 28, 2016

Americans' Financial Satisfaction Booms

relaxed home buyerAmericans personal financial satisfaction has increased substantially from a year ago, likely spurred by significant reductions in inflation and loan delinquencies, according to the 2015 fourth quarter PFSi (Personal Financial Satisfaction Index) released recently by the American Institute of CPAs (AICPA).

The index registered 15.9 in the fourth quarter, an almost 134 percent increase from the 2014 fourth quarter level of 6.8. However, there was only a 0.1 increase in the PFSi from the previous quarter, indicating the momentum of increased personal financial satisfaction has slowed.

The PFSi is calculated as the difference between the Personal Financial Pleasure Index and the Personal Financial Pain Index. The slight gain from the prior quarter was due to a 0.8 decline in the Pleasure index offset by a 0.9 point decline in the Pain Index.

The pain index is at a level of 43.5, which is 19.1 percent lower than a year ago. This is led by a 68 percent decline in the inflation component from the previous year - the largest change in the period for any component of the pain or pleasure index. Inflation began to fall in mid-2014 and has been extremely low for all of 2015. The drastic decline in oil prices has been a major factor in low inflation rates.

“With the Federal Reserve increasing its rate by 25 basis points in the fourth quarter of 2015, inflation will continue to be a focus for the central bank,” says Jimmy J. Williams, CPA/PFS, a member of AICPA’s National Accreditation Commission. “Consumers should watch oil price fluctuations, as that has a strong impact on inflation and could become an important consideration in the decision to continue raising rates in 2016.”

A 23 percent reduction in loan delinquencies from the previous year, as well as a 15 percent decrease in underemployment also helped drive down the Pain Index.

The Personal Financial Pleasure index registered 59.4, 2 percent lower than a year ago. The decline from the prior year was driven by 17 percent drop in the CPA Outlook Index and a 10 percent drop in the PFS 750 Market Index, with both of these components showing volatility over the past year. These declines were partially offset by 11 percent gains in both home equity and job openings.

“Job openings in most sectors were stable and achieved some growth, with notable exceptions in the extractive and drilling industries,” says Williams.“ Also, there has been increasing stability in the housing markets nationwide for the most part, which has helped drive up prices.”

The U.S. housing market as a whole made considerable progress in 2015, as the volatile bounce off the bottom experienced from 2012 through 2014 gave way to a more stable environment. Specifically, San Francisco, Los Angeles, and Boston currently have historically high valuations, while Las Vegas, Chicago, and Atlanta still have problems stemming from significant proportions of properties with underwater mortgages.

The CPA Outlook Index decreased in the fourth quarter of 2015 based on declines in the index components related to the U.S. economy, organizational optimism and expansion, and revenue and profit expectations. The CPA Outlook Index found CPAs who serves as CEOs and CFOs have sharply reined in expectations for profit and revenue in 2016, with anticipated growth for those two key performance indicators at their lowest level since the end of 2012.

The PFSi weighs a variety of economic factors to determine the financial standing of a typical American. It is the result of calculating the difference between the Personal Financial Pleasure Index and the Personal Financial Pain Index. The PFSi, calculated as the Personal Financial Pleasure Index minus the Personal Financial Pain Index represents the financial standing of a typical American, uses both proprietary and normalized official U.S. Government data.

Pleasure factors include the proprietary PFS 750 Market Index, comprised of the 750 largest companies by market capitalization trading on the U.S. markets, excluding ADRs, mutual funds, and ETFs. The other components are the AICPA’s CPA Outlook Index, Real Home Equity Per Capita, and Job Openings Per Capita. Pain factors include inflation, personal taxes, loan delinquencies and underemployment.

Reprinted with permission from RISMedia. ©2016. All rights reserved.

Posted in Real Estate News
Jan. 28, 2016

The Future Looks Bright: 2015 in Review

What a year for real estate! 2015 is being touted as the best year for housing since 2005 and judging by current real estate forecasts; the market will get even brighter in 2016.

2015 home sales

In recent years many of the areas hit hardest by the housing recession began to experience big gains. That correction is now held in check by mortgage laws enacted to rectify problems that led to the bust. NW Florida is well known for its beach condos, investment homes and has a strong second home market. As such, we tend to feel recessions but are also blessed by economic booms. 2015 was a year of solid economic gains and this trend is expected to continue well into 2016. The latest Multi-Indicator Market Index released by Freddie Mac shows that the real estate rebound in Florida led the nation. The housing report released by Florida Realtors in October of 2015 shows that home prices rose 12.4% year-to-year for single family homes.

For the past few years, investors have been attracted to the area by an abundance of bargains and the high demand for rental and vacation properties. Demand for homes continues to rise from investors and prospective homeowners, but we now see a shortage of inventory. Buyers just cannot find enough homes for sale. Florida's inventory of homes last year was below the six-month supply economists consider a balanced market, but the number of homes for sale is expected to be even smaller this year.

Experts tell us that buyers planning to live in the homes they purchase will need to pick up where investors left off for there to be real growth. In the local housing market, the transition from one phase of recovery to the next has already begun.

The chart below condo sales in 2015 for the Pensacola area is one of the best years ever, and we expect 2016 to exceed this.

2015 condo sales

Condominiums are popular in our communities for beach goers and those that want to offset the cost of owning a second home at the beach by putting that home on a vacation rental market. You will find that many families looking to downsize and first-time buyers show a preference for condominiums as well. Much of 2015 showed a disconnect between first-time buyers purchasing a condo and their ability to qualify for a Federal Housing Administration (FHA) product. FHA rules on the operation of condo complexes have been somewhat prohibitive in recent years. In a fortuitous turn around FHA announced in November that it would relax its condo board rules, giving buyers more affordable options for condominium purchases. FHA is currently the most popular first-time buyers' mortgage product.

Employment continued to be a positive sign of growth last year, and it appears to be one of the main drivers behind the positive 2016 projections. The U.S. gained about three million jobs in 2014. The Chief Economist at Freddie Mac estimated that we were on track to add another two million in 2015 and expert forecasts show that employment will continue to grow in the coming year. Consumers will be in a better position to purchase their first home or sell their current home and upgrade to a new one. Consumer confidence in real estate has returned and is growing. This means there are more people in a position to buy a home.

We are starting 2016 with even greater housing demand. As we move into the new year, we have an abundance of positive predictions from many different sources. Realtor.com tells us to expect a healthy growth in home sales and pricing. New-home construction is expected to continue to grow but will focus more on affordable homes meant to cater to entry-level buyers.

In 2015, we exceeded projections and completed our best year here at Emerald Coast Realty. Our expert team of real estate agents worked hard with both buyers and sellers to create the best experience possible and hope to do the same with you in 2016.

See more detailed home sales data and information about the Destin and Pensacola real estate markets.

Written by Emerald Coast Realty

Posted in Real Estate News
Jan. 21, 2016

821 Sterling Way House for Sale - West Pensacola

There is so much to love about this well maintained home it is hard to know where to begin. The great room concept of this home offers a spacious and airy living room, dining room, kitchen and breakfast area that flow but are still well defined. The living room offers vaulted ceilings, a fireplace, ceiling fan and tile floors. The dining room is cozy and family friendly yet polished enough to impress any discriminating buyer. The kitchen features granite countertops, a center island and an overhead pot rack with lighting. The split floor plan allows privacy, and the master suite is truly an oasis for the homeowner.

Master bedroom at Sterling Way, Pensacola

The three additional bedrooms are well proportioned and offer plenty of storage space. The entire home has custom painting and shows a tremendous pride of ownership. This Sterling Way home is on a corner lot on with plenty of room for a pool in the large backyard. Crown Point is a well cared for and quiet West Pensacola neighborhood. A beautiful home in a great area makes for the perfect combo.

Living room at Crown Point subdivision

821 Sterling Way Listing Detail Page

For more information call Kim Gibbons, 850-437-5618 Emerald Coast Realty, Pensacola.

Posted in West Pensacola
Jan. 7, 2016

Beach Club Condo 1404 for sale on Pensacola Beach

Pool at Beach Club Resort

Beach Club Resort is the premiere destination on Pensacola Beach. You know you have arrived from the moment you pull up to the front gate.  1404 Beach Club is an elegantly appointed three-bedroom home featuring unfettered views of the Gulf of Mexico and the beach to the east and west of the resort. The great room is spacious and flows between the kitchen and the balcony. Floor to ceiling sliding doors span the great room and the master suite on the beach side of the condo and allow access to the balcony.

Unit 1404 master bedroom at Beach Club Condominiums

The split bedroom floor plan gives all three bedrooms privacy. The master suite is spacious and includes walk-in closets, a dressing area, on suite master bath and crown molding. Beach Club offers a beautifully landscaped pool, heated indoor pool, state-of-the-art gym and day spa. This oasis is walking distance to all of the fun at the Boardwalk but miles away from ordinary.

Call 850-437-5618 for more details or to arrange an appointment.

Posted in Pensacola Beach
Nov. 3, 2015

1612 Smugglers Cove Circle, Gulf Breeze

Featured Amazing Home for Sale

1612 Smugglers Cove Circle
Gulf Breeze, FL 32563

MLS #459507  $1,390,000

Home for Sale at 1612 Smugglers Cove Circle

We have listed a home for sale in Gulf Breeze that is so unique, so special, and so loaded with amenities that we decided it needed a page just to describe all the special things it offers. Built in 2007, this elevated single-level, 3 bedroom - 4 bath luxury beach home sprawls over 4513 square feet on a private, half acre lot. It stands alone overlooking the Santa Rosa Sound, with a pier, boat lift, and floor to ceiling glass that offers a waterfront view to die for. Homes and Gardens Magazine even featured this beautiful property in a twelve-page article, emphasizing all the upgrades and design.

Smugglers Cove Home Living Room

This is an Mediterranean style custom-built home, with modern options that are made to take full advantage of the views, as well as providing convenience and comfort for guests when entertaining. Every part of the home feels like luxury and soothing open space, from the large designer kitchen with granite counter tops, a wet bar, wine closet, and so much more; to the master bedroom and exquisite bath that speak of paradise found.

Home Theater in 1610 Smugglers Cove Circle

Extra high ceilings with crown molding, beveled glass doors, and an amazing home theater room will make you never want to leave.

Smugglers Cove Home Bath

But you will have to walk out the glass doors and drink in the huge deck along the back of the house. Outdoor entertaining is complete with plenty of grilling area and a beautiful suspended lanai, with steps leading down to the pier and boat dock. It will be a hard decision as to whether you want to wrap yourself in the indoor luxury, or fill your senses with waterfront sun or sparkling moonlight that waits outside. The Smuggler's Cove community also offers a pool and clubhouse just a block up the street. HOA fees on this home are quite low - just $60 a month.

Smugglers Cove Deck/Lanai

The upgrades and special design features are endless. To see them all, download this Amenities Document. For more photos, see the listing at the end of the page.


Kitchen in Home in Smugglers Cove

The city of Gulf Breeze is a waterfront community located on the Fairpoint Peninsula in Santa Rosa County. Over half of Gulf Breeze has been set aside for 15 public parks. There are 18 miles of waterfront in the city, including the Santa Rosa Sound, the Bay, and some inlet channels. Schools are conveniently nearby any point in the city and are some of the most outstanding in the state.

aerial photo of waterfront home

The town of Navarre, which is even closer to this community, has a shopping and amenities you need.

Santa Rosa Sound

The community of Smuggler's Cove is located in an area known as Midway - in between Gulf Breeze and Navarre. This is a small private community of established custom built homes. This unique property is the only house located directly on the sound, and has a much higher market value than any of the others. The nearest neighbor is across the street, although another waterfront home is being built on the western lot. You'll feel like you're almost in your own private island paradise when you look out over the sparkling water of the sound.

This home truly must be seen to be appreciated for all the amazing features it offers. If you're looking for a waterfront home with every amenity, this is the one. Call us for a tour of this one-of-a-kind property!  

See listing flyer | Youtube Video or see the listing detail below.

Posted in Gulf Breeze
Sept. 14, 2015

Boardwalk Condo For Sale, Pensacola Beach

Boardwalk condo living room

This town home style two bedroom 2 1/2 bath Boardwalk condo in Pensacola Beach has been updated from top to bottom. The entire home has been freshly painted in a complimentary beach hue that is set off with the beautiful laminate flooring.  Downstairs foyer has a large closet for extra storage.

The second floor houses the living room and kitchen that has been updated with granite and stainless appliances. Upstairs features the two bedrooms, each with it's own updated bath and balcony access. All of the bathrooms have been remodeled and the tile work is terrific.

Beach at Boardwalk condominiums in Pensacola Beach

Lovely water views are available from the master balcony. Boardwalk has covered parking and loads of storage inside and out.  This sound side complex offers a community pool and clubhouse,  a sandy beach on the sound and allows short term rentals. Truly the best of both worlds!

 To schedule a tour or make and offer contact Kim Gibbons, Broker at Emerald Coast Realty 850-437-5618.

Posted in Pensacola Beach
Sept. 13, 2015

3530 Dunwody Dr, Pensacola Homes For Sale

Home for sale at 3035 Dunwody Dr Pensacola FL

Here is your opportunity to find a nice Pensacola house with a garage at 3530 Dunwody Drive in the Cordova Park neighborhood.

This move-in-ready home is ready for you to apply your own personal touches and upgrades. The bedrooms are good sized with windows and hardwood flooring which is under the carpet in two of the rooms. There is a spacious formal living room/dining room combo off the foyer and a nice family room in the back that opens to the back deck.

 Deck and backyard

The yard has mature trees and bushes that offer privacy in the back yard and curb appeal to the front of the home.  We have this home priced to move so come see it soon.

Contact Kim Gibbons 850-437-5618, Emerald Coast Realty to arrange a showing.

Property detail for 3530 Dunwoody Dr., Pensacola FL 2503

Posted in Pensacola
Sept. 2, 2015

3325 Linger Ct - West Pensacola Home for Sale

3325 Linger kichen

This meticulously maintained home is located at 3325 Linger Court in West Pensacola.  Sellers have lovely upgraded and improved the home and their pride of ownership shines through out.  The foyer leads you to a generously sized great room that has beautiful laminate floors, wall to wall windows, new lighting and ceiling fans.  The kitchen features granite counter tops, a lovely tiled back splash and a breakfast bar perfect for snack time or homework.  Upstairs you will find an oasis in the master bedroom with a bath en suite.  

Backyard at Linger Ct

There are an additional two bedrooms, a second full bath and a bonus office space.  All three bathrooms have granite and the entire house has been freshly painted. 

The back yard feels enormous and includes a nice size patio and large shade trees for those warm summer afternoons.  Come see the nicest home in the neighborhood. To schedule a tour of this property contact: Kim Gibbons, Emerald Coast Realty (850) 437-5618

Details for 3325 Linger Ct. Pensacola or view the Property Detail.

Posted in West Pensacola
Aug. 24, 2015

4725 Anchor Lane Home For Sale, Pensacola

4725 Anchor Lane, Pensacola, FL

Hands down this is the nicest home in the Harbour Square subdivision. Freshly painted with a modern color palate that perfectly complements the beautiful new laminate floors.

The owner’s updates and abundant windows thru out the home give the formal living room and formal dining an open airy quality. Built in 1974 this home has new cooper wiring, and updated heating and cooling system will give you peace of mind.

Kitchen at Anchor Ln

Nicely apportioned family room features a fireplace and an updated glass door with access to the backyard. Galley kitchen has upgraded tile back splash, new Silestone countertops, new hardware on cabinets and includes large windows overlooking the back yard.

The master bedroom has master bath on suite and overlooks the back and side yard. All the bedrooms are generously sized and have new carpets. This lovely home is a short walk to Regency Park for you and your family.

4725 Anchor Lane is a full brick home that’s move in ready and shows the pride of ownership your family deserves.

To arrange a tour call Kim Gibbons, Broker/Realtor at (850) 437-5618 Emerald Coast Realty.

Listing Details for 4725 Anchor Ln, Pensacola or view the Property Flyer

Posted in Pensacola
Aug. 21, 2015

456 Ft Pickens Rd Townhome for Sale - Pensacola Beach

456 Fort Pickens Road

This lovely town home located at 456 Ft. Pickens Road beckons you to come live the Pensacola Beach lifestyle. Snorkeling, paddle boarding, sailing, fishing and more are at your back door. The open floor plans design features wonderful water views of the Little Sabine Bay. The master suite is spacious, inviting and includes a balcony over-looking this serene bay. This town home is fully furnished and has two bedrooms town, two and a half baths, four balconies, porcelain tile floors and was recently repainted in a pleasant beachy hue.

View of Little Sabine Bay at Pensacola Beach

This great property has a garage and it has lots of built in storage. This 2007 town home was built to the latest hurricane codes and provides reinforced concrete floors and walls, hardie plank siding, a metal roof, and hurricane rated windows and sliders. The common areas are beautifully maintained by the home owners association so all you have to do is enjoy. Start packing and make your appointment to see your new home today.

Call Kim Gibbons (850) 437-5618, Emerald Coast Realty.

Details for 456 Ft Pickens Rd, Pensacola Beach or view the Property Flyer

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Posted in Pensacola Beach