August 2013 Monthly Market Reports

Windward Condo Balcony View 

As the Real Estate market along the Florida Gulf Coast continues to change and flourish, our Team at Pointe South Real Estate Sales will keep you informed.

The metropolitan area has had an increase in listings while both Perdido Key and Pensacola Beach have decreased in listings and sales.

Visit our August 2013 Monthly Market Reports for additional information on Sold properties:

                Perdido Key Market Report

                Pensacola Beach Market Report

MLS Active Listing Count

    Perdido Key   Pensacola Beach   MLS
4/1/2013   153   228   3204
5/1/2013   160   238   3253
5/31/2013   158   241   3321
 7/1/2013    158    234    3336
8/1/2013   151   237   3404
9/3/2013   135   227   3507

 

Our door is always open to discuss property values, the current market and any questions you may have so stop by our office or contact us today.

Kayak, Barbeque, & Blues Festival 2013

Kayak, Barbeque, & Blues

Are you going to be in Perdido Key this weekend or looking for a reason to visit Perdido Key?

Come on out and enjoy the 1st Annual Kayak, BBQ and Blues Festival this Saturday, August 31st from 9am to 8:30pm.  Hub Stacey’s at The Point will be filled with boards, live music, vendors, BBQ, and fun for everyone.

  8:00 am Battle of the Paddle
11:00 am Barbeque Cook-off, Vendors, and Live Music
  8:15 pm Fireworks and Flyboarding Demonstration

 

For more information, visit Perdido Key area Chamber of Commerce.

Going to School Along the Gulf Coast

School Bus

As the summer months come to an end, school time begins.  And with the return of school means a lot of changes not only for students, but for their families also.  Every year, numerous families move in and out of our area and whether a student is returning to their same school or starting in a new one, excitement and nervousness always accompany the first few weeks.

With all of the responsibilities and tasks already in place, it is extremely important to maintain a schedule when the kids return to school and set aside family time each afternoon or evening.  During this time, remember to talk to your children about their day, work on homework, and then do something enjoyable for all of you.  A consistent family structure will ensure confidence and growth in everyone and help in overcoming any challenges.

If you are new to the Gulf Coast area, there are plenty of enjoyable activities for everyone.  Getting out of the house, meeting new people, trying new food, and exploring the area will help make your new house a home.  Just to name a few, visit 5 Fun Activities for Kids in Perdido Key.

If you are planning on moving to the area, our agents will help you find a home for rent or for sale in a specific school district.  For additional information on local school, please see the county school district links below.

Baldwin County, AL

Escambia County, FL

Santa Rosa County, FL

Okaloosa County, FL

Considering a Short Sale?

 Short Sale

Considering a short sale is never in the plans when it comes to owning your own home.  However sometimes things don’t work out just as planned and an owner may find themselves looking for a way out.  One thing for sure, during the short sale process an owner is going to need guidance and support and we understand that going to friends, neighbors, and acquaintances is not easy and most owners don’t want to share that they are facing hard times financially.  

When an owner finds themselves facing these hard times, they need to know there are options.  The first thing we recommend is to make contact with the lending bank and see if a loan modification or another option is available. It is best to exhaust all efforts before deciding to sale, short sale or foreclosure on a home.  A foreclosure is a legal process in which the lender takes back the mortgaged property as a result of an owner not being able to keep current on the payments.  A short sale is when the bank agrees to accept less than the amount owed on the mortgage due to an owner not being able to keep current on the payments.

If all efforts have been made and the circumstances haven’t improved, this is the time to reach out to a licensed real estate agent for guidance.  A Realtor will not only look at your situation and guide you accordingly, but will explain the different processes to you in advance, support you through the process, and represent you along the way, taking as much weight as they can off of your shoulders.  Your Realtor will need your authorization to represent you and to allow the bank to disclose information on your account.  Maintaining constant contact between you and your lender, the Realtor will find out if you qualify for any assistance and what documents will need to be completed, compiled and submitted for review.

The lender may approve the short sale during the time the home is on the market and if not, the lender will review it at the time an offer is submitted.  At this time an offer may be accepted, countered, or denied.  It is important to know that even if the bank approves a short sale, they may or may not choose to waive the deficient balance.  In some cases, lenders require an agreement of payments to pay the remaining balance.  It is also important to know that lenders of second mortgages and HELOC may also need to approve the short sale.  While most short sales are closing in under 6 months, second mortgages, negotiations and other delays may postpone closing for numerous months.

Know that short sales are happening across the country and you are not alone.  A Realtor with experience and expertise in short sales will streamline the process for you and be there for any questions or concerns that arise during or after the sale.

Contact Broker, Susan Carleton, to refer you to a Pointe South Short Sale Expert.

If you are in the process of a short sale and are looking for a long term rental, please contact Pointe South Residential Leasing.

July 2013 Monthly Market Report

Banana Bay

As the Real Estate market along the Florida Gulf Coast continues to change and flourish, our Team at Pointe South Real Estate Sales will keep you informed.

Visit our July 2013 Monthly Market Reports for additional information on Sold properties:

                Perdido Key Market Report

                Pensacola Beach Market Report

MLS Active Listing Count

    Perdido Key   Pensacola Beach   MLS
1/2/2013   160   228   3214
2/4/2013   161   231   3227
3/1/2013   164   228   3205
4/1/2013   153   238   3321
5/1/2013   160   238   3253
5/31/2013   158   241   3321
 7/1/2013    158    234    3336

 

Our door is always open to discuss property values, the current market and any questions you may have so stop by our office or contact us today.

Earnest Money Deposits

Earnest Money Check

Clients in the process of selling or buying real estate often misunderstand the meaning and process of earnest money deposits.  An earnest money deposit (EMD) is a good faith deposit to show the seller that the buyer is serious and has all intentions of fulfilling the purchase contract.

The area and the local market conditions will guide the Realtor in advising the buyer on how much the earnest money deposit should be.  There is no set amount but instead a general expectation of 2% of the purchase price.  Once a contract is fully executed by both parties, the buyer will provide their EMD to their Realtor, who in turn has it deposited into an escrow account for safekeeping.  Escrow Accounts can be maintained by banks, title companies, brokers, and many other businesses.  At the time the deposit is made, the money now is in holding and does not belong to the buyer or the seller.  The deposit will be applied to the purchase price however it is important to know that this is not a down payment.

In rare instances, a purchase will fall through and the contract between the seller and the buyer will be terminated.  Some sellers think that if a buyer backs out, the EMD is automatically theirs and some buyers think that if they don’t purchase the property, they are entitled; neither is correct.  Each and every contract and circumstance is different so there is no right way to disburse the EMD.  One thing for sure, the sellers and the buyers will need to mutually agree on the release and disbursement of the deposit.  This is the best resolution for everyone.  If an agreement cannot be reached between the parties on the disbursement, the deposit will remain in the escrow account and further action will be taken, up to and possible including legal action until a Disbursement Order is issued.  It is important to remember that once the earnest money is deposited, the real estate agents, the brokers, and the brokerages do not have any control over the deposit and are held to state laws on the handling of the deposit.

So whether you are interested in homes for sale in Pensacola or condos in Perdido Key, an earnest money deposit will be expected.  The amount of your EMD may also be a deciding factor if a seller is reviewing multiple offers.   This is an anticipated time for both parties and whether you are writing the check or accepting the offer, the earnest money deposit is the sign that your contract is official and you can start looking forward to closing.

“100 Days of Summer” at The Wharf

Wharf_Farris Wheel

The Wharf, in Orange Beach, AL, is currently celebrating “100 Day of Summer.”  For this celebration, they have added more shows and activities to their current entertainment lineup and attractions.  Located on the Intracoastal Waterway, The Wharf has something for everyone from the marina to the carnival, shopping, dining, and everything in between.

The Wharf is primarily known for the Amphitheatre, Cinemas, and of course the 112 ft. tall Farris Wheel.  The Amphitheatre opened in 2006 and has since provided top entertainers to gulf coast residents and visitors.  The Cinemas are current on all new releases and exceed the standard movie experience with 15 screens and stadium seating. 

Specially designed for The Wharf, the “Spectra Sound and Light Spectacular” has two FREE nightly shows.  The earlier show is water themed and the later show is patriotic themed.  Visitors can sit in the grass, let their imaginations run wild, and enjoy the lights and music filling the night sky!  Before, or after the light show, kids will love the “Fun Zone” filled with carnival rides and games until the adults are tired or 11:00pm.

The Wharf has something for everyone to enjoy and the nightly light shows are a great way to spend the evening with the family!

2013 2nd Quarter Market Report

Parasol, Perdido Key

Great things are always happening at Pointe South. We want to be your choice for locally-owned and operated vacation rental, residential leasing and real estate services in Perdido Key, Pensacola and Coastal Alabama. Offering a variety of vacation and long-term rentals, as well as real estate, we have something to suit every taste, budget and dream of playing, staying and living along the shores of the Gulf Coast.

In order to keep you up to date on the local market, Team Pointe South is now providing Quarterly Market Reports to give you an overview of not only Real Estate, but also vacation and long-term rentals.

Visit our 2013 2nd Quarter Marker Report.

Our door is always open to discuss property values, the current market and any questions you may have so stop by our office or contact us today.

5 Fun Activities for Kids in Perdido Key

Kids at the Zoo

Perdido Key, FL, with all of its natural beauty, has something for everyone.  The outdoors naturally draws in all age groups for relaxation and adventure, but the community of Perdido Key also has special activities for the kids in our lives.  Not only do our local restaurants, attractions, and venues have playgrounds, but here are 5 fun activities for kids to enjoy while staying and playing along the Gulf Coast:             

 1.  Play at the Beach

         Build a sand castle, look for crabs or skim in the surf.  Local stores have plenty of beach toys to keep everyone having fun in the sun.

  2.  Walk/ bike ride through one of the state or national parks:

Gulf Islands National Seashore (Johnson Beach Rd, Perdido Key, FL)

Perdido Key State Park (15301 Perdido Key Drive, Perdido Key, FL)

Gulf State Park (20115 State Highway 135, Gulf Shores, AL)

     3.  The Wharf has dining, shopping and family fun! (4830 Main Street, Orange Beach, AL)

Farris Wheel (112ft Tall), Games, Laser Tag, Amphitheatre, and Cinemas

     4.  National Naval Aviation Museum (1750 Radford Blvd, Pensacola, FL)

Flight Simulators and IMAX Theatre

5.  Alabama Gulf Coast Zoo (1204 Gulf Shores Parkway, Gulf Shores, AL)

Education, Explore, and Animal Encounters

 

Visit Area Information to learn more about the communities along the gulf coast or call us to find out about seasonal activities and festivals!

Frisbee on the Beach

June 2013 Monthly Market Report

 Balcony at Beach Colony Resort

As the Real Estate market along the Florida Gulf Coast continues to change and flourish, our Team at Pointe South Real Estate Sales will keep you informed.

Of the 151 brokerages in the Pensacola MLS, Pointe South Real Estate was 10th for the month of June with over $6.5 million in sales!

Visit our June 2013 Monthly Market Reports for additional information on Sold properties:

                Perdido Key Market Report

                Pensacola Beach Market Report

MLS Active Listing Count

    Perdido Key   Pensacola Beach   MLS
1/2/2013   160   228   3214
2/4/2013   161   231   3227
3/1/2013   164   228   3205
4/1/2013   153   238   3321
5/1/2013   160   238   3253
5/31/2013   158   241   3336

 

Our door is always open to discuss property values, the current market and any questions you may have so stop by our office or contact us today.