February 29th, 2012 Categories: Foreclosures
There will likely be a lot of competition for foreclosed homes on the Pensacola real estate market in 2012.
Last year the supply of great deals on foreclosure homes shrank, because banks temporarily stopped trying to repossess properties to review possible paperwork errors, also known as “robo signing”. But I suspect it will be a different story in 2012. Lenders are starting to resume foreclosure filings, so more of these distressed homes are expected to be listed for sale.
“There’s such demand from buyers,” said Judy Trudel, a real estate agent for Balistreri Realty in Florida’s Palm Beach and Broward counties. “Whatever foreclosures hit the market this year will be eaten up.” This may also be true for the Pensacola market.
Here are some tips on finding and successfully purchasing a foreclosure.
1. Locate foreclosures: This part is actually simple. If you contact me ([email protected] or call me at 850-206-6140) I can provide you with free auto emails which will notify you of any foreclosed property that comes onto the Pensacola real estate market. Just tell me what you are looking for (price range, area of town, number of bedrooms/baths etc). I can customize a search for you and you’ll be notified about every new foreclosure that fits your criteria.
2. Make your offer stand out from the competition
Start with your best offer: This isn’t 2007 or 2008, when sales were sluggish and sellers were thrilled with any offer. Demand creates bidding wars.
“If I was a purchaser, I definitely wouldn’t go in (offering) less than the asking price,” said Summer Greene, a Fort Lauderdale real estate manager and the 2012 president of the Florida Realtors trade group. Of course, this assumes the asking price is fair. I can run comparisons on other similar properties in the area and let you know if it is indeed a good value for the asking price.
Consider making a hefty good-faith deposit. Upon making an offer, a typical buyer puts down $1,000 to convey interest. Buyers who want to impress the bank may want to offer substantially more. If you are not familiar with the good-faith deposit concept, please read my article Earnest Money: Clarifying the Confusion for Pensacola Home Buyers .
3. Be accommodating
Work with the bank however you can, within reason. Volunteer to close quickly. When submitting offers, turn in all the requested paperwork. If a bidder forgets to include a “proof of funds” letter or other documents, the bank may just move on to a more complete offer. This is where a good real estate agent can be invaluable. I can make sure everything is done correctly.
4. Don’t skip the home inspection
There have been reports of banks demanding the buyers purchase a foreclosure without an inspection. Obviously, this is a bad idea. See my report Redneck Ingenuity Makes Home Inspections a Must .
Remember, first you have to find the foreclosed homes when they come on the market. There are a multitude of sites that allow you to perform these searches, with varying degrees of accuracy and costs, not to mention the large amount of time you will spend manually searching these sites. Take the guess work and time waste out of your search. Just contact me and I’ll take care of it for you, at no cost to you. You will never be spammed, only emailed the foreclosed listings you request as they come on the market.
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February 23rd, 2012 Categories: Pensacola Market Data
The Pensacola Real Estate Market was a little above average for Pensacola home sales for January of 2011. The table shows real estate data for January 2012 in comparison to previous January’s back to 2007.
The numbers in the table were derived from data in the Pensacola MLS and are deemed reliable but not guaranteed. These statistics do not include Pensacola FSBO sales.
The biggest news here, and the best news for home sellers, is that the inventory of homes on the market has shown a significant drop over the past 6 years. Pensacola has just over half the homes for sale in 2012 that it had in 2007. On the other hand, median and average home sale price are both down from previous years. And days on market is showing a noticeable increase.
Even with the inventory of homes on the market decreasing, I’m still going to call this a buyer’s market. The logic here is that, while there are less homes to choose from, the prices are the lowest we’ve seen since the early 2000’s real estate boom, and interest rates remain at historical lows.
Even if you don’t believe this is a good time to buy, I would highly recommend taking a look at homes available on the Pensacola real estate market right now. There are some sweet deals to be had, and you never know how much give a seller will allow in their negotiations.
Of the 261 home sales in January, 49 were listed as foreclosures and 56 as short sales. That is about 40% of the sales in January being either foreclosures or short sales. If you are facing possible foreclosure or considering buying or selling in a short sale situation, the following Pensacola Real Estate News articles may be of value:
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Ashley Plantation is an upscale gated community just north and west of Pace Florida. It is being built by several local builders as well as DR Horton Pensacola.
The neighborhood is very well designed. The lots range from patio size lots, if you are looking to downsize, to huge four acre lots if you are looking for a country estate. The lots are divided out into several planned neighborhoods based on lot size.
Ashley Plantation is secluded as it has been cut into a large undeveloped tract of land, just a mile or so from the Escambia river watershed area. There is a nice spring fed creek that flows through the neighborhood, and great conservation areas to enjoy as well
For more information about Ashley Plantation contact me here
or call Jim Holland at 850-206-6140
Ashley Plantation is a beautiful neighborhood of new homes that is convenient to both NAS Whiting Field, Pace, and Pensacola. The driving time to Pensacola shopping areas is only about 20 minutes.Downtown Pensacola is only around 30 minutes.
Ashley Plantation is also in the highly rated Santa Rosa School district, and in the sought after Pace High School area.
To see other Pace Florida subdivision articles , refer to the links below
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In Pace Florida Real Estate, D.R. Horton Pensacola is featuring two great plans in their Winners Gait subdivison.
The first floor plan is the Brookstone, a very nice 2610 square foot 4/3. It has granite counter tops, high ceilings, maple cabinets, a fully sodded yard and a landscape package, all on a .27 acre lot
The second plan available in Winners Gait subdivision is the D.R. Horton Mckenzie plan.
The McKenzie plan is a large 3047 square foot, 5 bedroom, 3 bath, all brick craftsman style home that is a very popular Horton floor plan.
This home also has granite counter tops and crown moulding. This is a very impressive must-see home.
Winners Gait is a new home neighborhood that is quickly being built out just north of Pace Florida.
Pace Florida is close to NAS Whiting Field . Many Navy and civil service personnel buy homes in Pace because Pace is convenient to shopping and entertainment and is an area of highly rated schools.
DR Horton usually makes substantial contibutions to closing costs and, with a V.A. or USDA 100% loan, a buyer will normally bring very little to close; sometimes nothing!
If you would like to contact me for me for information about Pace Florida Real Estate click here for an e-mail form.
Or call me, Jim Holland at 850-206-6140
Here are the sales statistics for Winners Gait subdivision for 2011:
|Listing Category||Lowest Price||Highest Price||Average Price||Avg Price/Sqft|
Sold Property Analysis
|Address||List Price||Sold Price||DOM||% Chg||%SP/OLP||SP/Sqft|
|4214 WINNERS GAIT CIR||$199,900||$193,500||49||3.2%||95.57%||$107.02|
|5636 GOLD CUP DR||$207,400||$207,400||255||0.0%||100.00%||$95.44|
|4303 WINNERS GAIT CIR||$208,350||$208,000||21||0.2%||99.83%||$94.20|
|4451 WINNERS GAIT CIR||$217,755||$215,000||648||1.3%||96.00%||$86.83|
|5623 GOLD CUP DR||$225,500||$219,000||177||2.9%||100.60%||$100.78|
|5641 GOLD CUP DR||$222,075||$219,300||98||1.2%||98.75%||$93.04|
|4356 WINNERS GAIT CIR||$221,805||$221,805||210||0.0%||100.37%||$86.88|
|4219 WINNERS GAIT CIR||$225,850||$223,800||37||0.9%||99.09%||$87.15|
|5648 GOLD CUP DR||$230,946||$225,946||81||2.2%||99.94%||$95.86|
|5644 CHURCHILL DOWNS CT||$225,975||$225,975||8||0.0%||100.00%||$95.87|
|4435 WINNERS GAIT CIR||$233,179||$235,229||125||-0.9%||94.78%||$92.32|
|4213 WINNERS GAIT CIR||$236,690||$236,690||4||0.0%||141.20%||$94.00|
|4422 WINNERS GAIT CIR||$241,640||$239,000||179||1.1%||100.54%||$92.03|
|4297 WINNERS GAIT CIR||$239,126||$239,126||0||0.0%||100.00%||$95.27|
|4338 WINNERS GAIT CIR||$243,165||$243,165||216||0.0%||100.00%||$81.03|
|4410 WINNERS GAIT CIR||$248,565||$245,167||146||1.4%||94.24%||$81.59|
|4455 WINNERS GAIT CIR||$254,800||$247,000||592||3.1%||95.06%||$82.31|
|4431 WINNERS GAIT CIR||$247,831||$253,275||37||-2.2%||102.20%||$84.28|
|4279 WINNERS GAIT CIR||$262,925||$254,426||14||3.2%||99.22%||$83.50|
|5629 GOLD CUP DR||$259,300||$254,825||41||1.7%||98.84%||$81.31|
|5647 PREAKNESS CT||$260,175||$259,675||30||0.2%||99.81%||$85.39|
|5617 GOLD CUP DR||$255,200||$260,535||101||-2.1%||102.09%||$85.67|
|.||Sta||Street Address||Bed||Baths||SqFt||Year Built||L Price||S Price||Sold Date||DOM|
|1||S||4214 WINNERS GAIT CIR||3||2||1,808||2011||$199,900||$193,500||12/23/2011||49|
|2||S||5636 GOLD CUP DR||3||2||2,173||2011||$207,400||$207,400||11/15/2011||255|
|3||S||4303 WINNERS GAIT CIR||3||2||2,208||2011||$208,350||$208,000||12/28/2011||21|
|4||S||4451 WINNERS GAIT CIR||4||3||2,476||2010||$217,755||$215,000||09/29/2011||648|
|5||S||5623 GOLD CUP DR||3||2||2,173||2009||$225,500||$219,000||04/15/2011||177|
|6||S||5641 GOLD CUP DR||3||2||2,357||2011||$222,075||$219,300||10/31/2011||98|
|7||S||4356 WINNERS GAIT CIR||4||3||2,553||2010||$221,805||$221,805||01/28/2011||210|
|8||S||4219 WINNERS GAIT CIR||4||2||2,568||2011||$225,850||$223,800||06/29/2011||37|
|9||S||5648 GOLD CUP DR||3||2||2,357||2011||$230,946||$225,946||07/20/2011||81|
|10||S||5644 CHURCHILL DOWNS CT||3||2||2,357||2011||$225,975||$225,975||06/29/2011||8|
|11||S||4435 WINNERS GAIT CIR||4||3||2,548||2011||$233,179||$235,229||07/20/2011||125|
|12||S||4213 WINNERS GAIT CIR||4||3||2,518||2011||$236,690||$236,690||09/30/2011||4|
|13||S||4422 WINNERS GAIT CIR||4||3||2,597||2011||$241,640||$239,000||12/19/2011||179|
|14||S||4297 WINNERS GAIT CIR||3||32||2,510||2011||$239,126||$239,126||11/02/2011||0|
|15||S||4338 WINNERS GAIT CIR||4||3||3,001||2010||$243,165||$243,165||07/12/2011||216|
|16||S||4410 WINNERS GAIT CIR||4||3||3,005||2010||$248,565||$245,167||04/29/2011||146|
|17||S||4455 WINNERS GAIT CIR||4||3||3,001||2010||$254,800||$247,000||07/27/2011||592|
|18||S||4431 WINNERS GAIT CIR||4||3||3,005||2011||$247,831||$253,275||12/20/2011||37|
|19||S||4279 WINNERS GAIT CIR||5||3||3,047||2011||$262,925||$254,426||07/28/2011||14|
|20||S||5629 GOLD CUP DR||4||4||3,134||2011||$259,300||$254,825||06/30/2011||41|
|21||S||5647 PREAKNESS CT||5||3||3,041||2011||$260,175||$259,675||05/27/2011||30|
|22||S||5617 GOLD CUP DR||5||3||3,041||2010||$255,200||$260,535||03/11/2011||101|
To see other posts on DR Horton Pensacola neighborhoods click on the links below
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In Northwest Pensacola Real Estate,no builder is currently stronger than DR Horton Pensacola. Over the last several months DR Horton has been building in at least five neighborhoods in Northwest Pensacola Real Estate that I have featured.They are building a variety of floorplans from 1461 square foot in Claridge Park all the way up to a huge 4258 square foot plan in the Nature Trail subdivision and the Soaring subdivision.
Click to see all DR Horton Homes For Sale
DR Horton has also started bulding in a very attractive patio lot neighborhood in Northwest Pensacola called Roberts Ridge,which I have not written an article for yet, but the subdivision seems to be coming along, and I am sure I will be writing about it soon.
I have sold the Whittingham,Keylan and Hawkesberry DR Horton Pensacola floor plans in the last six months, and all my buyers have been very happy with their homes, and with the service they recieved from DR Horton Pensacola.
Also, they were all very happy with the great concessions on closing costs and upgrades they received.
To get more information on D.R. Horton Pensacola
call Jim Holland at 850-206-6140
D.R. Horton Pensacola paid virtually all closing costs,so a buyer who qualifies for a V.A. loan or a USDA loan,(which is available north of 10 mile road, or west of I-10 can in Northwest Pensacola )purchase a D.R.Horton Pensacola home with virtually no money down.
Of course, if you have a good down payment,the concessions just increase the equity you have in your home at closing.So this great deal from D.R. Horton Pensacola means you win either way.
To see my posts on these great Northwest Pensacola subdivisions, click on the links below
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