December 2013 Monthly Market Report

December was a great month of gift giving and real estate!

Although our inventory in Perdido Key and Pensacola Beach may have dwindled the last couple of months, the number of properties sold this December held strong!   Perdido Key had 23 closings this month, a 15% increase since December 2012, while Pensacola Beach had 21 closings, a 75% increase.

There is no better gift than the gift of a new home just in time for the Holidays!

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

Hope you all enjoyed the Holiday Season!

What is Your New Year Resolution?

Every year, year after year, we all make resolutions to start the New Year off right.   We always hear others promise “to eat more vegetables” or “exercise at least 3 times a week.” How about a new kind of resolution, making time for you and your family to relax and enjoy the activities and shores of the gulf coast?

Let’s really start the year off right by dedicating some time, throughout the year, for you.  The communities along the Gulf Coast are passionate about their cities and all they have to offer including cultural attractions, beaches and water ways and local events. Come and enjoy the emerald shores, rolling waves and let’s start the New Year off with a breath of fresh air and some fun!

Our Rental team is here to make sure you enjoy every minute of your stay.

 Pointe South and start your New Year Resolution by choosing your Gulf Coast destination!

Let our Real Estate Team Advertise for You!

The only way to sell your Pensacola Home or Perdido Key Condo is to let everyone know it is For Sale!  Passionate and motivated, our Realtors at Pointe South Real Estate Sales understand the importance of spreading the word and representing your property to the highest standard.  Advertising and representation is key and even though your property may be involved in an ad campaign, it may not be receiving all of the attention that it should.

We employ a year round multimedia approach to marketing and advertising in our Gulf Coast Communities.  We know through community involvement, affiliations and professionalism brings success for not only our team, but also for our owners and investors.  We want your property to shine!  Our Team’s presentation uses brilliant, high quality photos to show the true beauty of your property.  Our descriptions are complete and accurate letting potential buyers know exactly what your home has to offer physically and functionally.  And just as important, our Realtors are knowledgeable on the local market and our communities and ready to answer any questions.

With all of the pride we invest, we carry over our presentation, continuing to market your property through our website, the multiple listing service, Facebook, Twitter, and through targeted email and postcard campaigns.

Our advertising strategies at Team Pointe South are proven and successful and we want to advertise for you!

2013 3rd Quarter Market Report

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.

Keeping you up to date on the local market, Team Pointe South is providing Quarterly Market Reports to give you an overview of Real Estate, Vacation Rentals, Long-term Rentals, and exciting news we want to share.

Contact us for our 2013 3rd Quarter Markert Report.

For all of your real estate needs, stop by our office or call one of our licensed Realtors today!  Let our team help make great things happen for you.

Considering a 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.

Earnest Money Deposits

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

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

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.

Contact us for 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.

Beach Colony Condominiums with the Most Sales in the 2nd Quarter

The Beach Colony Condominiums have always been a highlight in Perdido Key, FL.  Consisting of three gulf front towers providing direct beach access with two dune walkovers, beautiful landscaping and the most extensive amenities, Beach Colony is the complex with the most sales in Perdido Key, FL the second quarter of 2013.

These gulf front towers provide direct beach access to 214 units.

Floors Units Penthouses Summits
East 18 68 12 0
Tower 20 75 12 4
West 18 71 12 0

All owners and guests appreciate the gated entrance, covered parking, and coded elevators.  With two outdoor pools, one interior heated pool, the only clay tennis courts on Perdido Key, and over 700’ of white sandy beach, the Beach Colony Condominiums will exceed all expectations.  The lush landscaping is designed for your enjoyment with yard swings for relaxing or grilling areas for your gatherings.

As with all condominiums, the Beach Colony Condominiums have quarterly dues, both Association Dues and Master Association Dues.  The Master Association Dues are fixed and are the same regardless of unit size.  The Association Dues are also per quarter; however they vary by condo and are based on the square footage.  Since each of the 3 buildings are unique, your Pointe South Real Estate Agent will be able to provide you additional pricing information.

During the second quarter, Beach Colony Condominiums had the most sales with 9 units of which 8 units were 3 bedrooms and 1 unit was a 2 bedroom.

Average Days on the Market:                       234

Average Sold Price:                                    $422,444

Average Price per Square Foot:                 $244

*Excluding the 2 bedroom unit, the average sold price for the 3 bedroom units’ increase 2%.

Visit Developments for current listings or see some of our most popular developments and complex’s in Pensacola, Pensacola Beach, Gulf Breeze, Perdido Key, FL and Orange Beach, AL.

Pointe South Real Estate Sales Set New Record in May 2013

The team at Pointe South Real Estate Sales is dedicated to serving the real estate needs of the communities along the gulf coast.  With over 30 Realtors, and being led by Broker, Susan Carleton, the satisfaction of their clients is showing through the sales.

May 2013 was a record-breaking month as sales for Pointe South Real Estate reached over $5 Million.  Their commitment to their clients, along with keeping current on the local markets and financing options, have kept Pointe South growing and they are looking forward to the upcoming months!