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:
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.
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:
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.
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 Beach Colony for current listings or see our Developments for some of our most popular developments and complex’s in Pensacola, Pensacola Beach, Gulf Breeze, Perdido Key, FL and Orange Beach, AL.
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:
A final home inspection walk through is the last step to purchasing your new home before going to the closing table. The purpose of this walk through is to ensure that the property is in the same condition as when you agreed to purchase it. Pointe South wants all of our buyers to be completely satisfied with their new home so we recommend making this a priority and setting the time aside, even in the rush and excitement of moving.
Prior to the final walk through a professional inspection should have been completed. Once an inspection is complete, a report will be provided to the buyers with the inspectors recommendations. At this time, all questions and request for repairs should be deliberated and resolved in a suitable time frame. There is no need to postpone repairs as they can interfere with the closing date. A list of requested repairs should be brought to the final home inspection walk through to ensure the repairs were done. This will allow the buyers to preview the home in move in condition. Addressing all questions in advance will make closing day stress-free and anticipated by everyone.
There are times that last minute concerns or devastating problems will arise. These circumstances are rare but are why a final home inspection is recommended whether the home is still full of stuff or has been vacant. Other than a devastating problem, last minute concerns will be immediately handled and closing will continue as scheduled. If the home has been vacant, a very thorough walk through is needed to double check that all utilities and appliances work. Natural elements, dormancy, and weather can cause deterioration in even the best built homes. If the home has been occupied, it is equally important to conduct the walk through even though most buyers assume that all is working properly. The ideal time for the final walk through is 24 hours before closing but in the event that the sellers are moving out last minute, a final walk through should be done just before closing.
Your new property will either be the home you live in for years to come or an investment that you will want to hold value for years to come. Pointe South is here to represent your best interest and as your gulf coast realtor, a final home inspection walk through is a must!
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 May 2013 Monthly Market Reports for additional information:
We all know the process of putting our house on the market for sale. It’s easy, just buy a sign for the front yard and start advertising. Well sometimes it is just not that easy. Our day to day lives interfere with the time that we should be dedicating to marketing and maintaining our home. And is the local market in our favor?
With an infinite amount of information on the internet and social media, we understand the temptation of giving it a try; however the National Association of Realtors reports that homes For Sale By Owner only made up 9% of home sales in 2012. The most common marketing methods for these homes were putting up a yard sign followed by listing the home on the internet. Realtors not only have their professional and referral network connections but they utilize the new technology along with the old. And most importantly, your home is their priority. Realtors dedicate their time to ensuring that your home has the largest reach of potential buyers.
After the decision has been made by owners to sale their own home, the next two concerns are the value of their home and the paperwork. Realtors provide Comparable Market Analysis, based off current listings and sales in your area, to ensure an accurate value. They also can offer you some simple staging tips and guide you in the right decision if you are pondering repairs or upgrades prior to putting your home on the market.
Mentioning repairs, these and other requests will be negotiated at the time of an offer. Making changes to your home may not necessarily be in your favor so wait to see what type of interest you receive and what your potential buyers are looking for. Your Realtor will inform you of common and acceptable requests of a buyer and review every aspect of a contract with you. Every location and every home is different so the contracts and required document vary just the same. Having a professional on your side will make this process smooth and timely.
Let an expert provide you the facts. Your Realtor will offer you valuable information that will save you not only time, but give you the comfort of knowing you have made good decisions for your family and your investment. With Realtors licensed in both Florida and Alabama, know our door is always open to discuss property values, the current market and any questions you may have about listing your home or investment property for sale!
April brought about a little surprise to the Realtors in Perdido Key, Florida as the active inventory for Perdido Key real estate decreased 7% in the last month.This is a 4% decrease year to date with 153 active listings. On the up side, the Perdido Key average sales price increased 16% to $386,109 bringing the average price per square foot to $213.
Although the Perdido Key market is continuing to grow and change, this is not the case for all of the surrounding communities along the gulf coast. The inventory for Pensacola, and Gulf Breeze and Pensacola Beach are holding steady. The average sales price for Pensacola Beach this April was $449,161 with an average of $258 per square foot.
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
04/1/2013
153
228
3204
Visit our March 2013 Monthly Market Reports for additional information:
