Who Loves to Save Money?!?! How to Remove PMI Payments!

Who else LOVES to SAVE MONEY? You’ll love this real estate hack if you don’t already know.

No matter when you bought your house, if you did so with less than 20% down, your mortgage lender tacked on the extra cost of private mortgage insurance (PMI) as a standard precaution. ​​​​​​​​Removing PMI payments can be a significant way to save money in the long run. PMI is usually required when a homebuyer makes a down payment of less than 20% on their home purchase. Once the homeowner reaches 20% equity in their home through mortgage payments or home value appreciation, they can request the cancellation of PMI.

By eliminating PMI, homeowners can potentially save hundreds or even thousands of dollars annually. This extra money can be put towards paying off the mortgage faster, saving for future goals, or investing in other financial endeavors. It’s essential to stay updated on the value of your home and the amount you owe on your mortgage to determine when you’re eligible to remove PMI and start enjoying the financial benefits of doing so.

PMI, Remove pmi, mortgage

In addition, PMI typically only protects the lender in the event of a default. According to NerdWallet, PMI rates usually range from .58% to 1.86% of the original loan amount. So, for example, a $400,000 loan with 7.5% down would mean your PMI payment would be $305/month (with a 700-credit score).

Let’s Talk PMI

✔️ Confident that your house is worth more today than when you purchased it? ​​​​​​​​

✔️ Can I cancel PMI if my home value increases? ​​​​​​​​

✔️ When does PMI go away?​​​​​​​​

📝 Whether your individual mortgage qualifies for PMI removal will depend on factors like the current value of your home, the loan type, how much you still owe on the loan, and your payment history.​​​​​​​​ With the example above, it would take 8.66 years for the lender to remove this $300 monthly payment. So, you would be paying over $31,000! However, do not stress because there are ways to remove this sooner.  

How Can We Remove the PMI?

💰 In all honesty, the hot real estate market of 2021-2022 meant many homeowners saw their equity rise. Even though a market shift is underway as of late due to higher interest rates, many homeowners with mortgages will most likely be sitting on significant equity due to still-high home values. In Q2 2022, a report from CoreLogic shows that homeowners with mortgages saw an equity increase of nearly 27.8% year-over-year. CoreLogic forecasts an average rise in home prices of 4.3% between June 2022 and June 2023.​​​​​​​​

💼 As a result of this trend, NOW would be a good time for many borrowers to see if they qualify for private mortgage insurance cancellation. A higher equity stake in your home can lower the perceived risk of your mortgage and, in some cases, speed up the path to PMI removal.​​​​​​​​ See! We told you not to stress!

In addition, because PMI can add tens of thousands of dollars in housing costs over the life of a loan, it’s essential to consider taking steps to remove PMI as soon as you’re eligible.​​​​​​​​

Long story short… 😉reach out to me anytime for a CMA! Our team would love to have coffee (or a margarita) with you to discuss it further.  Pointe South is always looking for ways to save our customers money!

At Pointe South Rentals and Real Estate, our mission is to be the ultimate resource for all your real estate needs. Whether you’re looking to buy, sell, or rent a property in the beautiful Pensacola area, we are dedicated to providing exceptional service and helping you navigate the real estate market with ease. With our team of experienced professionals, extensive knowledge of the local market, and a commitment to client satisfaction, we strive to exceed your expectations.

We understand that buying or renting a property is a significant decision, and we are here to guide you every step of the way, offering personalized attention and expert advice. Trust Pointe South Rentals and Real Estate to be your trusted partner in achieving your real estate goals.

Here is to saving money in 2023!!!

susancarletonteam@pointesouth.com ~ 850.492.1148

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Welcome Jennifer DuBose!

Southern Real Estate Sales is thrilled to welcome Jennifer DuBose to our team, adding to the already stellar group of professional real estate agents in Alabama and Florida. Jennifer specializes in selling and buying real estate in Pensacola, Perdido Key, Navarre and Gulf Breeze and surrounding areas. We could not be more excited to have her on board!

Prior to pursuing a career in real estate, Jennifer worked in finance for over 20 years. In 2018, she was ready for change. Jennifer was able to take her years of experience and apply it to her next endeavor, her true passion – real estate. Her eagerness and go-getter attitude are sure to please and prove her love for real estate.

Jennifer, now a Florida local, moved to Perdido Key from Laurel, Mississippi. Her family owned a vacation rental, which they now call home. “I love what this area has to offer…from the friendly people, to the beautiful white sandy beaches, and the endless festivals and events in Downtown Pensacola. I enjoy all the activities of coastal living such as boating, biking, and kayaking.” said Jennifer. “There is no place like home or the beach. I want to help each client feel at home wherever they choose!”

Interested in learning more about Jennifer and how she can help you find your forever home or the perfect place in the sand? Email her today at JenniferD@pointesouth.com. She’ll be happy to help you buy, sell or invest in the property of your dreams!

2019 Foo Foo Fest in Pensacola, Florida

It has arrived!

The 6th Annual Foo Foo Festival has been scheduled from October 31 – November 11 in Pensacola, Fla. and offers an acclaimed array of internationally-recognized musicians and performance artists.

Foo Foo Fest is a highly anticipated arts and culture festival, which is one of the largest in the Southeast. Spanning an impressive 12 days, the exciting line-up has something for everyone and includes:

  • Classical piano virtuoso Garrick Ohlsson
  • Renowned jazz band Big Bad Voodoo Daddy
  • Multi-Grammy nominated musician Marsha Ambrosius
  • Stomp Fest is based on a 125-year-old African American College Fraternity and Sorority Tradition of “Stepping”
  • “Skulptures” (a display of 3D printable skateable concrete structures)
  • Performance of The Savannah Sipping Society (a new play by The Golden Girls writers),
  • Fire and Rain (a sea of billowing holographic strands suspended above historic Intendencia Street)
  • Historic walking tours, a large farmer’s market, quaint shops, food trucks and brewery tours

Pensacola is the only city on the stretch of the Gulf Coast from Mobile, Ala. to Tampa, Fla. that boasts having the “big five,” an opera, ballet, symphony, theatre and museum. Foo Foo Festival’s roster of events celebrates art, music, dance, opera, theatre and cuisine with programming from grant recipients, throughout the city of Pensacola for nearly two weeks. The 2019 ACE grant recipients will host individual experiences specific to their craft throughout the festival. Strategically positioned in and around some of Pensacola’s most popular and longer-running events, the Foo Foo Fest encourages cultural tourists to make Pensacola an arts destination and enjoy other events those two weeks including The Greater Gulf Coast Arts Festival, the Blue Angels Homecoming Air Show, Pensacola Eggfest and the 34th Annual Frank Brown Songwriters Festival.

The 12-day event is chock full of inclusive, thought-provoking and mind-extending cultural happenings including:

  • Choral Society of Pensacola – Choir! Choir! Choir! an event that is equal parts singing, comedy and audience participation
  • Downtown Improvement Board/Artel Inc. – Fire and Rain, a suspended sea of billowing holographic strands ripples high over historic Intendencia Street like a quilt of sparkling diamonds
  • First City Arts Alliance – 3DPrintsacola, featuring professional American street skater Rodney Mullen, combines machine generative art with hands-on artmaking practices to create 3D printed skateable concrete “Skulptures”
  • Greater Pensacola Symphony Orchestra, Inc – Legendary pianist Garrick Ohlsson performs with the Pensacola Symphony Orchestra
  • Jazz Pensacola – Jazz Pensacola presents renowned Big Bad Voodoo Daddy, a contemporary jazz & swing revival band from Southern California
  • Lamplighters, Inc. – StompFest 2019 will immerse the Gulf Coast in contemporary African-American art, dancing, and stepping blended with a mix of spoken word, live music, and visual artistry with special celebrity guests Marsha Ambrosius, Mannie Fresh and Steven Brown
  • Legal Services of North Florida – Jazz for Justice brings in well-known musicians and local artists for a unique jazz and blues festival in downtown Pensacola.
  • Pensacola Little Theatre – A performance of “The Savannah Sipping Society,” created by the same writers of The Golden Girls
  • Pensacola Museum of Art – A Journalist and Author Talk with Eleanor Randolph. The veteran journalist and author will return to Pensacola to share her experiences as a female journalist and details on her new book, The Many Lives of Michael Bloomberg.”
  • The Pensacola Civic Band – The Pensacola Civic Band will be in concert with the world-famous Boston Brass at the Pensacola Saenger Theatre. The concert entitled “Sketches of Spain” will highlight the music of Pensacola’s Spanish heritage including “Malaguena.”

In addition to the plethora of arts and cultural happenings during Foo Foo Fest, Pensacola offers year ‘round historic walking tours, a large farmer’s market, quaint shops, food trucks and brewery tours. Visitors can stroll along the bay, enjoy the beautiful beaches, experience the culinary arts scene, and take in historic sites all staged in the backdrop of relaxed elegance unique to this historic city on the Gulf Coast.

 

For more information about the 2019 Pensacola Foo Foo Festival visit www.FooFooFest.com.

Upcoming Events on the Gulf Coast !

What’s Happening on the Gulf Coast!
Celebrate the unique combination of food, history, art, music and beaches that can all be found in and around our city. From the smaller arts and crafts festivals to the larger music festival, these outdoor parties are fun for the whole family! Don’t just take our word for it! Come see Pensacola, Pensacola Beach, Perdido Key, Destin, Orange Beach, or Gulf Shores. Find your perfect place on the Gulf Coast whether you are coming to play, stay or invest, Southern Rentals & Real Estate can help to make your sweet Southern experience memorable!

Our Calendar of Events has some of the fun for the Fall Season!


October
Blue Angels practice : Pensacola
Flora Bama Oktoberfest :
Humane Society’s Barktoberfest : Pensacola
13-15 Annual Shrimp Festival : Gulf Shores
13-15 58th Greek Festival : Pensacola
14-Bridge to Bridge Run 5K : Pensacola
17 UWF Symphonic Band Concert Band : Pensacola
18 Fishing Rodeo : Destin
28 Spooky Movie on the Lawn at The Wharf : Orange Beach
22 Art & Wine Festival : Pensacola Beach
24 Bands on the Beach : consecutive Tuesdays : Pensacola Beach
20 Gallery Night Downtown : Pensacola
28 Boo at the Zoo : Gulf Breeze
28 Halloween at Naval Museum: Pensacola
28 Wahooloween : Blue Wahoo Stadium: Pensacola


November
Ice Flyers Hockey is back.
38th Annual Toys for Tots Run :
02 Foo Foo Festival : Pensacola
03 Umbrella Sky Project : downtown Pensacola
03 Annual Oyster Cook Off at The Hangout : Gulf Shores
04 Blues, Brews & BBQ Festival : Harbor Walk Village : Destin
08 Magic Men Live at Saenger Theatre : downtown Pensacola
09 Elf – the musical at Saenger Theatre : downtown Pensacola
17 Ice Skating at The Wharf : Orange Beach
10 An Evening with Guitarist, Gene Bertoncini: PensacolaPensacola Beach
10 Emerald Coast Theatre Co.-Disney Aristocrats Kids show : Destin
10-11 Blue Angel Homecoming Air Show : Pensacola
11 Repti Day – Reptile and Exotic Animals Expr : Navarre
12 Annual Marathon : Pensacola
16 Palafox Market, recurring weekly : downtown Pensacola
18-19 UTR Tennis Tournament : Orange Beach
24 Magic Christmas Lights at Bellingrath Gardens & Home opens for the month : AL
24 Elf Parade : downtown Pensacola
27-28 Annual Tree Lighting : Orange Beach


December
02 Lighted Boat Parade & Fireworks : Pensacola Beach
03 Visit with Santa at the Harbor Walk : Destin
08 Christmas on the Coast : Pensacola Children’s Chorus : downtown Pensacola
09 Christmas Parade : Destin
01-17 Horse and Carriage Riders at The Wharf : Orange Beach
09 Flora Bama Santa Drop
15 Nutcracker at the Saenger Theatre : Pensacola
31 Pelican Drop Celebration – downtown Pensacola

With so much to do around town, whether you are looking to stay for a day or make the move of a lifetime, Southern is dedicated to helping you find the perfect place. Stop by one of our office today.  Southern Rentals and Real Estate

Have a sweet Southern experience !

Andy Ross Sets Gulf Coast Lionfish Record

gulfcoastlionfishcoalition_logoThe annual Gulf Coast Lionfish Removal and Awareness Day is quickly approaching, and with that we could not be more proud to sponsor such an event. This year, we have even more reason to celebrate as Perdido Key real estate agent, tournament host and fishing captain, Andy Ross found himself with a record-breaking catch. Just last week, Andy caught a seventeen foot long lionfish off the shores of Pensacola Beach.

Andy is a captain with Nihui Dive Charters has been an active member of the Gulf Coast Lionfish Coalition for years. The fish was caught just in time for the group’s festivities, helping to hype the upcoming events and festival. With the festival, the Lionfish Coalition aims to educate the public on how to control the influx of the invasive species and further protect the Gulf Coast fishing industry.

On Friday, the Coalition will host a lionfish tasting at West Marine on Davis Highway in Pensacola. (Yes, you can eat these invasive boogers, and yes, they are delicious!) May 14 and 15 are considered the main event days, where the Coalition gathers with food and entertainment at the Plaza de Luna in Pensacola. Be there from 10:00 – 5:00 pm for a full day of fun, education and support. We will most definitely be there!

 

Easter Events on the Gulf Coast

The Easter Bunny will soon be hopping to town! If you have recently purchased Gulf Coast real estate and moved to town, you will definitely want to check these out. After all, where else can you hunt for eggs in sugar white sand as you listen to the waves lap ashore?

If you have kids, especially little kids, we highly recommend heading over to LuLu’s at Homeport Marina. Known for their family friendly events, LuLu’s will offer an Easter egg hunt on March 27, 2016 at 2PM that will be split by ages, ensuring a fun and safe experience for all. Be sure to stick around after the hunt for pictures with the Easter Bunny, live entertainment and delicious food.

Want to celebrate on Saturday and enjoy some extra time with the Easter Bunny? Consider having breakfast with him at the Eric Meyer Civic Center in Gulf Shores. Or, head over to The Wharf for Brunch with the Bunny at the Villaggio Grill.

If you happen to own Perdido Key real estate, or live in nearby Orange Beach, hit up the Flora-Bama for a fun and festive afternoon. This egg hunt takes place on Saturday and features over 5,000 eggs hidden along the beach behind the venue.

Have a Tropical Re-union this Valentine’s Day!

Vow Renewal at LuLu's-1So, you have recently purchased real estate in Gulf Shores and Valentine’s Day is creeping up on you. Where should you go? Where do you take your sweetheart?

Well, you could choose from any number of wonderful restaurants in Orange Beach or Gulf Shores for an evening meal. You could even enjoy some dancing or catch the latest movie. But how is that different from any other date night?

How do we suggest making it extra special then? Visit LuLu’s on Homeport Marina! LuLu’s is a wonderful local restaurant that usually offers events that cater to kids or families. We highly suggest you check out their Easter, Christmas and Noon Year’s Eve events now that you live here. But, on Valentine’s Day, this restaurant is just for the big kids. The married ones, as they will be offering the opportunity to renew your vows in a group ceremony.

The Tropical Re-Union will take place on February 13, 2016 at 2PM. The ceremony will be performed by Hurricane Jane, a local Parrot Head and ordained minister. Couples are encouraged to register online to ensure LuLu’s has enough flowers, cake and champagne on hand for everyone to celebrate. Couples will even be presented with a commemorative certificate of vow renewal.

So, make this Valentine’s Day extra special by attending the vow renewal at LuLu’s! Want to add an extra special element? Surprise your sweetie with a beach stay. Southern Vacation Rentals is currently offering 30% off condos and beach homes that weekend.

Holiday Events this Weekend

IMG_7938 editIt’s beginning to look a lot like Christmas on the Gulf Coast and this weekend you will find plenty of holiday events to enjoy, after you’re done shopping for your next Perdido Key or Pensacola real estate investment, of course.

Near our Perdido Key homes for sale you can attend the always popular Santa Drop at the Flora-Bama. Santa will literally drop in from the sky and land safely at the Flora-Bama to visit and take pictures at 10Am on Saturday, December 12, 2015. There will also be yummy food and fun activities following the drop.

Also on Saturday is the arrival of Billy Claus to LuLu’s at Homeport Marina in Gulf Shores. Billy, Santa’s younger, beach-loving brother, will arrive in style with his LuLuBelles at 2PM and celebrate with photos and fun until 5PM. But, the fun at LuLu’s doesn’t stop at 5PM. Keep your seats and watch as the 30th annual Christmas Lighted Boat Parade launches from LuLu’s at 5:30PM. You’ll be captivated by this beautiful event.

We hope to see you and your loved ones out at these fun community events taking place this holiday season!

Bellingrath Gardens’ Christmas in Lights

GardenOwning real estate on Alabama’s Gulf Coast comes with many perks. One of which is getting to enjoy festive holiday events in the evening after a day spent on our still-warm beaches.

One such event we highly encourage you to check out this Christmas takes place at Bellingrath Gardens. Their annual light display has been named by USA Today as one of the top public displays in the country. This year also promises to be extra special, as it is the events 20th anniversary!

If you are not familiar with Bellingrath Gardens, this 65-acre estate is located in Mobile, Alabama and features manicured lawns and abundant gardens. They offer several festivals throughout the year to mark the different seasons with Christmas in Lights being an annual favorite.

The event is currently taking place and will run nightly through January 2, 2016, with the exception of Christmas Day and New Years Day. Entrance to this walking event is $15 for adults and $7 for children. The lights twinkle to life at 5pm and stay lighted until 9pm. We hope to see you there!

Thanksgiving Restaurants & Holiday Events

IMG_2745 photoshoppedThanksgiving is just two weeks away and the Christmas season around the corner. If you will be taking a break from shopping Gulf Coast real estate for sale to celebrate, be sure to check out these wonderful events along the beach!

First up, we have Thanksgiving. If you have just recently moved to the area or sold your home in Alabama or Florida, the idea of cooking may seem daunting. Skip it this year and enjoy a delicious meal cooked and cleaned up by someone else!

Restaurants open near your home in Gulf Shores and Orange Beach include Gilbey’s Seafood and Steak, as well as the Ginny Lane Bar at The Wharf. If you live in Perdido Key, try the Flora-Bama’s annual potluck. Or, for something a little more traditional, the Perdido Key Beach Resort. In Pensacola, head downtown to Jackson’s Steakhouse or the Fish House.

After the Turkey has been cleaned away, stick around a few days to watch the beaches light up for the holidays! Orange Beach will host their annual tree lighting on December 1, 2015, while Gulf Shores will get into the holiday spirit with the town parade on December 4, 2015.