Emerald Coast Real Estate Update

Trusted Real Estate News Blog

Aug. 12, 2017

House at 7401 Chimney Pines Dr in Pensacola for Sale

Livingroom at 7401 Chimney Pines Drive Pensacola

Searching for that perfect place to come home to and enjoy life? Look no more you found it. This split floor plan three-bedroom two-bath brick home sits on a quarter acre corner lot with curb appeal that makes heads turn. As you enter the home, you step into your foyer leading you right into the tiled living room with a corner fireplace. You can not help but gaze out into the massive, perfectly landscaped backyard. The incredible kitchen opens up to the dining and living rooms. Step out back and take in the roses and vastness of the yard for your children to run and play, you can sit on the patio and lower the remote-control enclosure screens and enjoy the evening.

Deck and patio area at Chimney Pines

Minutes away from Interstate-10, this home is near the Navy Federal Campus, Historic Downtown Pensacola, shopping, and the Emerald Coast beaches. Head downtown and stroll the bay front sidewalks, take in the fine dining Pensacola has to offer, stroll the historic district and check out all the ladies dressed in period wardrobe, catch a baseball game, theater, or stroll through the local galleries and the talents of local artists.

Call Todd Atchison at Emerald Coast Realty to schedule a tour, 850-437-5618.

See listing detail page for 7401 Chimney Pines Dr, Pensacola, FL 32526.

Posted in Pensacola
Aug. 4, 2017

Important terms used to evaluate a real estate market

Real estate sellers evaluate price

People have heard many of the terms in this article to refer to the status or condition of a specific real estate market. These terms are important while evaluating a property or choosing an area to purchase a property in. Your best bet is team up with a knowledgeable real estate agent or broker that will assist you in evaluating properties you like enough to consider purchasing.

Days on market

This number comes directly from the MLS (Multiple Listing Service); it is the number of days from initial listing date to contract date.

Active listings

Again, this is a number provided by the MLS. The number of active listings is the number of properties currently for sale on a specific date. Many times, it is the 15th or the end of the month that are used. (See Example of Charts)

Average Sale Price

The average sale price, calculated by summing the price of all sold properties then dividing by the number of properties sold.  This number may not accurately reflect a specific neighborhood in an area with a wide range of values.

Monthly Sales

Monthly sales is the number of sales within a specific month, taken from the MLS.

Absorption Rate

The absorption rate is calculated using the number of active listings, divided by the number of monthly sales.

This value is typically used to identify the overall market status as a buyer's or seller's market. An absorption rate of six to three months is a neutral market not favoring buyers or sellers. Less than three months is a seller's market and more than six months is a buyer's market.

Example: 2590 (active Listings) / 890 (sales) = 2.9 months *

The example above  is a seller's market

Odds of Selling a Home

Divide the number of sales for a six-month period by the number of new listings for the same period. This will give you the odds a property will sell in one month.

Example: 4280 (Sold Listings) / 5871 (New Listings) = 72% *

There are many factors that sellers can affect to improve their odds; price, curb appeal, marketing, home condition and more. There are also things that cannot change such as location and the home itself, but this is a guide to your home in a specific market.

 

*Examples are for the Pensacola area, 1st half 2017

Aug. 2, 2017

Emerald Isle 907 Condo is for Sale in Pensacola Beach

Balcony at Emerald Isle Condominiums

Emerald Isle offers the best of both worlds for Pensacola Beach living. This condo is located on the eastern edge of the beach commercial district. This popular condominium is easy walking distance to restaurants, entertainment, shopping and loads of fun amenities that the beach offers.  Picture yourself walking over to enjoy Bands on the Beach, a game of putt putt miniature golf or lunch on the sound. There are plenty of boating opportunities offered at the marina for fishing charters and leisurely boat tours.  Boat owners can secure slips at local marinas and can be minutes away from boating adventures. This spring you will be able to catch the ferry to downtown Pensacola and the park at Fort Pickens as well.

Pensacola Beach has an abundance of restaurants from which choose. Whether you would prefer a casual beach vibe to take the kids, a quiet cafe for date night or a fun filled atmosphere to meet your friends, Pensacola Beach has you covered. The boardwalk offers music venues, shopping for more upscale tastes as well as bargain hunters and fun water activities. You can rent a jet ski, paddle board, bicycle or sign up for lessons at local businesses. Free trolley service is provided during the summer months if you need a ride back to the condominium.

The beaches in Pensacola Beach are truly beautiful and unlike any coastline in other parts of the country or the world for that matter. Our beaches are made up of quartz sand that washed down rivers to the Gulf and found a home on our barrier island. The emerald colored water in the Gulf of Mexico coupled with the brilliant white sand beach makes for a mesmerizing backdrop. Imagine walking out the back to miles of pristine coastline. Hike to the east towards the park if you are in the mood for peace and quiet. Watch the dolphins and other sea life or simply opt to catch a few rays on a beach chair. The choice is yours.

Walkway to the beach between the twin pools.

Your luxury gulf front condominium will be ready for you to kick back at the end of a sun soaked day. Emerald Isle is a gulf front resort with two sparkling pools, hot tub and an expansive pool deck leading to the beach walkover with a shower conveniently provided. This ninth-floor unit provides amazing views of the Gulf, the pools and the beach from the living room, kitchen, dining area and the master bedroom. Emerald Isle is an excellent vacation rental property as well as a nice place to live.

Call Kim Gibbons at Emerald Coast Realty to schedule a tour, 850-437-5618.

See the listing detail page for Emerald Isle 907 in Pensacola Beach.

Posted in Pensacola Beach
July 27, 2017

Rise and Fall of the Real Estate Blog

Real estate blogger

Emerald Coast Realty was founded in 2003 and at that time real estate websites were becoming the initial starting point for homebuyers. Before this time, buyers began with picking up a newspaper, real estate magazines or stopping by a real estate brokerage. I am sure you remember "Agent On Duty" signs that companies would have on the sidewalk in front of their offices. This was also the time of the real estate directory. There were dozens of directories during this time but the only ones we think of now are Zillow, Trulia, and Realtor.com. Things have progressed a long way since then.

This same time period also marks the beginning of the weblog, truncated to "Blog." 2003 is the same year Google purchased Blogger, and blogging was off to the races. In our business sector, the real estate blog was becoming ubiquitous, and it seemed like every realtor had a blog whether they had something to say or not. By the middle of 2006, there were 50 million blogs.

Blogs were the primary line of communication by individuals online 15 years ago, but this has changed with the rise in social media. Now people look to Facebook, Twitter and Google Plus to network with friends and business associates and share ideas. People have become less inclined to blog back and forth to one another.

Today blogs seem to provide a way for individuals to publish information and opinions and distribute these at little or no charge for broad exposure. While exposure is very important for any business, it is especially so for real estate firms blogs. Here are three important categories for real estate professionals.

  • Real Estate Market Conditions

Buyers and sellers need to know the current market condition to help them price a property correctly understand the number of days a sale may take.

  • Real Estate Listings

Homes just listed for sale need all the exposure they can get, and a blog post is a good way to do this.

  • Upcoming Events

Upcoming events consist of; local fun events, new construction announcements or other events that will affect property prices.

Our company is committed to continuing to use blogging to educate and inform our customers through timely and relevant articles. By doing this we can also provide excellent exposure for our seller's homes and condos. Visit the Emerald Coast Realty real estate blog to get our point of view and provide your comments about what you read.

By Emerald Coast Realty

Posted in Real Estate News
July 21, 2017

First-Half of 2017 Pensacola Real Estate Sales in Review

We have just past the halfway point of the year, which is an excellent time to evaluate real estate sales for the first half of 2017. Comparing the first six months sales numbers of 2017 for the general Pensacola Area* of previous years of residential (homes and condos) sales shows how well our market is doing.

2017 first-half Pensacola real estate sales

While 2017 is shaping up to be a very good year, the number of properties sold in 2017 is only slightly greater 2016. This small increase is due in large measure due to the decrease in the number of properties for sale - our inventory is down by 14% from this time last year.  The reduction of local inventory impacts home buyers ability to find the house or condo for the right price.

Price Appreciation

The price you will pay to acquire a house or condominium this year has also increased over the last seven years. The average price paid for a residential property in the Greater Pensacola Area has increased by 12.5% during the past twelve months and has increased 39% since the bottom of the market in 2010.  This appreciation has been gradual and continued year after year as seen in the graph above.

Second-Half 2017 Forecast

The second-half of 2017 is expected to remain strong as the number of days on the market will shrink and the inventory of homes and condos continues to diminish. Interest rates are expected to remain low posing little to no risk to the real estate market. The factors above combine to produce a seller's market.

Given these strong real estate market conditions, buyers should prepare in anticipation of making a winning offer when the right property becomes available. Consider early on whether you will buy with cash or financing. If you plan to use financing, get pre-qualified and find any hidden credit issues that may exist before you make an offer.

Sellers are less likely to grant contingencies or concessions when multiple offers presented. Remember;  preparation pays off for buyers too.

 

 

*Pensacola Area - Refers to all cities and communities collectively in Santa Rosa and Escambia Counties.

Posted in Real Estate News
July 20, 2017

Pensacola August 2017 Events

Pensacola up coming event

I was at the bank drive thru last week when one of my favorite tellers shared her recent success with the Pensacola Little Theater. You are a bit late to catch her production, but there is still time to see PLT's Cats. Cats is a theater favorite and Broadway record holder. The full musical based on T.S. Elliott's poems will feature the best of our local dancers and character actors! Aug 4-6 is your last chance to catch this show, and seating is limited.

The Atlas Oyster House is calling all Millennials for their next installment of Atlas Beverage Classes (A.B.C.). This semester will focus on handcrafted beers with mini appetizers to complement each tasting. Classes will cover the basics as well as specific information regarding the history of the brewery/distillery and their beers or spirits. There are two classes every month, each an hour and a half long. Class cost is $20 per person (plus tax and gratuity), per class, which gets each participant one tasting of each of the featured beverages. Also, throughout there will be giving away T-shirts, beer glassware, gift certificates and more. Call 850-217-2347.

Pensacola Comic Con has grown every year since its inception and this year is expected to be bigger than ever.  My daughter and her friends are sure to attend.  Not to be confused with Pensacon at the Pensacola Bay Center in February, this convention is at the Pensacola Interstate Fairgrounds, Aug 18-20, 2017.  Targeting Science Fiction, Horror, and Fantasy fans, this convention includes celebrity meet and greets, discussion panels, workshops, screenings, demonstrations, events, gaming, costume contests, tournaments, and competitions.   www.pensacolacomiccon.com.

Music is a big part of the Pensacola community, and the summer has lots of options no matter what part of town you live. The Summer Concert Series at Big Lagoon is featuring Willie Sugarcapps from 6-9 on Aug 5th. Located in Big Lagoon State Park, 12301 Gulf Beach Hwy, the show is $15 Gen Adm, $25 VIP. The Blue Angels Music Blues on the Bay concert series continues at the Community Maritime Park downtown. Concerts are held on Sunday nights when our Blue Wahoos baseball team is not playing a home game at the park. August shows are on the 6th and 20th from 6-8 pm, and admission is free.

Posted in Pensacola
July 16, 2017

Emerald Shores home for sale at 1139 Halyard Place in SW Pensacola

Pensacola house at 1139 Halyard Place is for sale

The Estates at Emerald Shores is walking distance to the Perdido Kid's Park and just minutes away from Perdido Key beaches. This well-maintained community is conveniently located close to the back gate of NAS Pensacola, NAS Naval Hospital and Corry Station, and a short drive to downtown Pensacola. Nestled in The Estates at Emerald Shores, 1139 Halyard Place is an oasis found. This home has an abundance of curb appeal with its manicured lawn, Palm trees, and the inviting front porch. The residence features bamboo floors, a generous open floor plan, and a split floor plan.

Large living area

The kitchen is open to the formal and informal living areas making the home an entertainers dream. French doors off the living rooms and master bedroom take you out to the private backyard. Sit on your covered porch and enjoy the sun-filled Florida days and nights. A spacious Master Suite offers an oversized walk in closet and a large master bath retreat. There are three additional bedrooms and two full sized beautiful bathrooms with an indulgent amount of additional storage space. With easy access to Big Lagoon State Park, parks, boat launches and the beach, this listing offers Florida living at its finest.

Call Kim Gibbons at Emerald Coast Realty to schedule a tour, 850-437-5618.

See listing detail page for 1139 Halyard Place, Pensacola FL 32507.

Posted in SW Pensacola
July 15, 2017

House for sale 4345 Village Oaks Lane, Pace

house at 4345 Village Oaks Lane

4345 Village Oaks Lane is in Woodlands, one of Pace's newest subdivisions. Located only minutes from I-10 and Highway 90, this gem is conveniently close to Walmart, Lowes, restaurants, and plenty of other shopping venues. This community is accessed thru a beautiful winding road that is nicely landscaped. The Woodlands subdivision features total electric new homes with underground utilities, street lighting, sidewalks and two recreational parks.

This home has an attractive courtyard driveway entrance and an open living space with new wood grain ceramic tile in living room. The kitchen has a breakfast bar, large island, granite countertops, large lighted walk-in pantry, and plenty of cabinet space. This home offers a split floor plan with a large master suite with trey ceiling and a ceiling fan. The master bath features double vanities, garden soaker tub, water closet, linen closet, and a large walk-in closet. The two additional bedrooms are down a hallway with a full bathroom between the bedrooms.

Kitchen at Pace FL home for sale

The large covered back porch adjacent to the breakfast area - perfect for barbecuing or a quiet place for morning coffee. The spacious fenced backyard has been landscaped and includes trees near the back of the property for additional privacy. The inside laundry room is spacious with an extra utility closet, and you enter as you come in from the double car garage.

The oversized garage has two front facing windows to the courtyard driveway. There is also new pull down stairs for easy access and additional storage in the attic. Extra features include washer and dryer, security system, in wall TV mount, termite bond, patio sliders. See all this home has to offer. Bell Lane provides easy access from I-10 to the heart of Pace Florida, and the neighborhood is only about fifteen minutes to Whiting Field and UWF.

Call Nicole Gilchrest at Emerald Coast Realty to schedule a tour, 850-437-5618.

See listing detail page for 4345 Village Oaks Lane, Pace FL 32571.

Posted in Pace, FL
June 28, 2017

Home Prices Nationally Increase at a Slower Rate

Homes in Pensacola

Home price growth continues, though at a slower pace, up 5.5 percent year-over-year in April, down from a 5.6 percent gain in March, according to the latest S&P CoreLogic Case-Shiller Indices.

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index's Ten-City Composite rose 4.9 percent year-over-year, down from a 5.2 percent gain in March, while its 20-City Composite rose 5.7 percent, down from a 5.9 percent gain in March. Month-over-month, the 10-City Composite rose 0.8 percent, and the 20-City Composite rose 0.9 percent.

Of the 20 cities analyzed for the Index, Dallas, Tx, Portland, Or., and Seattle, Wa., again topped the charts, with prices up 8.4 percent in Dallas, 9.3 percent in Portland and 12.9 percent in Seattle.

Is growth beginning to grind to a halt? Home prices could hit a ceiling, according to S&P Dow Jones Indices Committee Chairman and Managing Director David M. Blitzer, but not give way to collapse.

"As home prices continue rising faster than inflation, two questions are being asked: Why, and, could this be a bubble?" said Blitzer in a statement. "Since demand is exceeding supply and financing is available, there is nothing right now to keep prices from going up. The increase in real, or inflation-adjusted, home prices in the last three years shows that demand is rising. At the same time, the supply of homes for sale has barely kept pace with demand and the inventory of new or existing homes for sale shrunk down to only a four-month supply. Mortgage rates remain close to 4 percent, and affordability is not a significant issue.

"The question is not if home prices can climb without any limit; they can not," Blitzer said. "Rather, will home price gains gently slow or will they crash and take the economy down with them? For the moment, conditions appear favorable for avoiding a crash. Housing starts are trending higher, and rising prices may encourage some homeowners to sell. Moreover, mortgage default rates are low, and household debt levels are manageable. Total mortgage debt outstanding is $14.4 trillion, about $400 billion below the record set in 2008. Any increase in mortgage interest rates would dampen demand. Household finances should be able to weather a fairly large price drop."

"We expect home price indices to continue to reflect rising prices year-over-year as the inventory of existing homes at entry level prices remain constrained in major markets," says Ruben Gonzalez, an economist at a large real estate franchise. "New construction has only recently begun to bring entry-level products into many markets, and we expect it will take some time for this to have a noticeable impact on market conditions. Price gains are only likely to be subdued if we see a deterioration of demand resulting from rising interest rates at some point this year."

"Two conditions in today's market that can quickly change the home price trend are swings in the labor market or home inventory," says Bill Banfield, executive vice president at a national loan company. "Both of these factors have remained largely constant throughout the year, and we see this reflected in most metro areas of the housing market."

Source: S&P Dow Jones Indices

Posted in Real Estate News
June 26, 2017

Pensacola July 2017 Events

July 2017 Pensacola events

When I think of summertime, I think of the beach. There is no better way to kick off summertime than by celebrating the 4th of July on the beach. Fireworks are always abundant for this holiday but have a special flair when you get the reflection off the water. We tend to alternate between the celebration at Casino Beach in Pensacola Beach and the party over at Destin Harbor. Both are excellent but be sure to get there early to get a good spot. Taxis and Uber are available to those celebrating with adult beverages.

Blue Angel Weekend is the week after the 4th of July and is usually a huge draw to the area. Locals know to get to the beach early if you want to find a place to park. You may not know that the Blue's do dress rehearsals the week before the Air Show. On July 5th, you are invited to have Breakfast with the Blues. You can avoid the crowds and enjoy breakfast at a beachfront restaurant and watch the Blues pilots prepare for Saturday's show. The Blue's should be overhead around 8 a.m.

Landshark Landing is offering their Movies Under the Stars Series this summer every Wednesday evening during the summer at dusk - from 8:00 to 10:00. Bring your blankets and lawn chairs, and they will provide the margaritas and tacos! Admission to the family-friendly movies is free and open to the public. Landshark Landing is at 165 Ft. Pickens Rd in Pensacola Beach. This is an easy walk from the parking area at Casino Beach.

When my children were growing up, we went to Bands on the Beach almost every Tuesday night during the summer. Located at the Gulfside Pavilion overlooking the Gulf of Mexico, the series features regional artists performing a wide variety of music. You can bring your lawn chairs, blankets, and coolers or purchase treats from surrounding vendors. When my children were old enough, they would ride their bikes over and meet us there. This event brings lots of great memories for my family, and it is still available for yours to enjoy every Tuesday night at 7:00 (weather permitting).

Perdido Key's Flora-Bama is hosting their 3rd annual Gulf Coast Paddle Championship the weekend of the 21st. The location offers sugar-white sand beaches sitting on the Alabama & Florida State line. This is the only race where you can say "I did It on the Line and raced in 2 States!". The 9-Mile race starts behind the famous Flora-Bama Lounge and ends behind the Flora-Bama Ole River Bar. This event offers clinics, exhibitors plus lots of fun for the entire family, including those who do not want to race.

Posted in Pensacola