Pensacola Real Estate Navigators Do It Themselves
March 10th, 2010 Categories: Home Improvement
A couple of years ago, I asked the question Is Pensacola Real Estate Really Sexy? Well now our local “sexy man” Woody Wolden is trying to make Pensacola real estate not only sexy, but funny. Teaming up with his buddy and fellow Real Estate Navigator Matt Robinson, they created this very funny “Today’s Handyman” video for you homeowners who want to try a little “do it yourself” work around the house.
The video was actually a promo for a Real Estate Navigators meeting. That meeting has come and gone, and I unfortunately was not able to attend. But at least we have this video of Cliff Sandstone and Bubba Sparks doing some home repairs that is worth a few great laughs. (Hey, did you know that when you are laughing, you are totally living in the moment. There are no problems or issues or stress. You are just happy in that moment. Think about it after you have laughed. It is a truly healing experience. Sort of like listening to your favorite song. We should all laugh a lot more. )
Bubba “Sparky” Sparks is played by our own sexy Woody Wolden. So what do you think ladies? Is he still that super sexy real estate man 2 years later?
Thanks for the laughs Woody and Matt.
Related Articles On Pensacola Real Estate News:
Redneck Ingenuity Makes Home Inspections A Must
Home Improvements: Which Ones Really Pay Off
How You Can Save Big Money On Home Improvements
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Pensacola Real Estate Market Report: February 2010
March 9th, 2010 Categories: Pensacola Market Data
Here is the Pensacola Real Estate market report for February of 2010. The tables for the previous 2 months of Pensacola real estate sales are provided for comparison purposes.
Home sales picked up in February 2010. Pensacola had almost 100 more home sales in February than in January 2010. However, January was historically slow for real estate sales, coming in with the lowest Pensacola Real Estate sales of the last 5 years.
When you compare February’s Pensacola home sales to those of the same month in the past 5 years, the market is performing a little better than last year, but still lagging behind 2005-2008. I think the driving force that is going to cause sales to pick up is going to be the Homebuyer tax credit, which was extended through April/June of 2010.
However, reports have been coming out indicating that many real estate agents do not believe the homebuyer tax credit is having the desired effect. See Pensacola Real Estate News article Impact From Home Buyer Tax Credit. We can only wait and see.
Note that you must have a home under contract by April 2010, and have closed the sale by June 30, 2010 to qualify for the tax credit. Click for more detailed information on the Homebuyer Tax Credit.
Once the homebuyer tax credit expires, it’s not clear where the real estate market is headed.
Back to the real estate tables. In comparison to previous years, you can also see that average and median home sale prices are down overall in February 2010, although they look to have held fairly steady compared to last year. The good news for Pensacola home sellers is that the inventory of Pensacola Homes For Sale is considerably lower than at this time last year.
Keep checking back to Pensacola Real Estate News for more news on Pensacola market data and other topics relevant to the local real estate market.
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Pensacola Real Estate – Tax Credit Information
March 6th, 2010 Categories: First Time Home Buyers, Pensacola Buyers
It takes time to find the right Pensacola home for sale that suits your needs. Finding and getting real estate under contract rarely happens quickly. There are currently over 4500 Pensacola homes and condos for sale. If you want to take advantage of the tax credit, you need to move quickly. There are only 54 days left (from March 6, 2010) to get a home under contract by April 30, 2010. Next, the home must be closed by June 30. This is not a lot of time.
If you decide to purchase a Short Sale property, the chances of getting it under contract before the deadline are very slim. (See article Short Sales – Are They Worth It). However, there are many affordable conventional sales available, and quite a few bank owned properties on the market.
Here are some links to help you understand more about the homebuyer tax
credit and take advantage of it:
IRS First-Time Homebuyer Credit Q & A
IRS Form 5405 (to take the tax credit)
Frequently asked questions about the $8,000 first-time home buyer tax
credit
Frequently asked questions about the $6,500 tax credit for repeat home buyers
Some key points for prospective home buyers
Pensacola Military: Since we have such a high military presence in
Pensacola (thank goodness, what would we do without you great men and
women), the link below is very important to members of the military who
are looking for Pensacola Homes For Sale before the tax credit deadline.
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Manchester Subdivision Report – Pensacola Real Estate News
March 5th, 2010 Categories: Southwest Pensacola
This article provides a Pensacola real estate market report on the Manchester subdivision. If you are interested in seeing any homes in the Manchester subdivision, or any other Pensacola Homes For Sale, Contact Me for assistance. All of the homes pictured on this page were for sale at the time this article was published.
To see all current Pensacola Homes for Sale in Manchester, simply click the link below:
Pensacola Homes For Sale In Manchester
Manchester is located in SouthWest Pensacola. Manchester is accessible from U.S. Highway 98, just west of Dogtrack Road.
Manchester is a relatively new subdivision, with most homes being built in 2006 or later. Homes in Manchester were built by Adams Homes Builders.
Below you can find summary information on Manchester.
Escambia County School Districts for Manchester Subdivision:
Elementary: Blue Angel
Middle: Bailey
High: Escambia
Homes in Manchester generally fall into the following categories:
Age of Homes: 2006 and later
Number of Homes in Subdivision: 80 (approximate)
Construction: Contemporary style
Average Square Footage: 2454
Bedrooms: 3 to 5
Bathrooms: 2 to 3
Garages: Mostly 2 Car (some 3-car)
Lot Sizes: .20-.30 acres
Waterfront? None
Homeowners Association: $86 per year mandatory
Approximate travel times to popular Pensacola destinations:
Downtown Pensacola: 20-25 Minutes
Cordova Mall / Pensacola Airport / Pensacola Junior College: 35-40 minutes
Interstate 10: 25-30 Minutes
Pensacola Beach : 40-45 minutes
Perdido Key Florida: 15 minutes or less from beautiful Perdido Key beaches
University Of West Florida: 45 minutes
Pensacola Naval Air Station (NAS) (Home of the Blue Angels): 10-15 minutes to back gate
Saufley Field Naval Base: 15 minutes
Corry Field Naval Base: 10 minutes
The table shows Pensacola Real Estate data for Manchester subdivision. The numbers in the table are created using data from the Pensacola MLS and are deemed reliable but not guaranteed. These numbers do not include sales by Pensacola FSBOs.
Notice in the table that Manchester homes have held their value very will since 2007. The unusually high average price in 2006 is simply attributable to the fact that only 2 homes sold in that year, and both were in the upper price range for that subdivision. Days on market has dropped since 2008, although it is still fairly high at 154. These figures should make a buyer comfortable that their home will retain its value in Manchester subdivision.
Related Pensacola Real Estate Articles on other SouthWest Pensacola Subdivisions:
Coral Creek
Herons Forest
Southbay
Emerald Shores
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Upside2Downs
March 3rd, 2010 Categories: Community, Local Stories
With this article, we’re going to get away from Pensacola Real Estate and look at a great organization that is doing a lot of good in our Pensacola community. I am truly grateful to the Gilliards for all they do to make life better for those beautiful souls that are facing the challenges of Down syndrome. So go see a hockey game and support a good cause. And if you are not into hockey, just be aware of these beautiful people in our community who are working so hard to make the world a better place and lend them your support if you so desire.
The Pensacola Ice Flyers are partnering with Pensacola’s Upside2Downs to raise awareness and funds for Down syndrome. Upside2Downs and their supporters are selling tickets to the March 25 Ice Flyers game with part of the proceeds going directly to families affected by Down syndrome. The goal is to sell 2,000 tickets, thereby raising $10,000 for families in need.
Fred Gilliard, the director of Upside2Downs, knows that the money will directly change peoples lives. “We want to provide for families in the community that are struggling with a child that has Down syndrome. The money we raise will go directly to those families who are really in need. Normally when you see a child, you think that they are happy, they are smiling; and they are. But at the same time there are medical conditions you have to deal with. There are therapies you have to deal with. There’s the cost of transportation to go from hospital to hospital.”
The community is already offering support. Linda Sonshine Moorer, the Midday Diva on Magic 106.1 is spreading the word. I’m asking everybody to help out. I’ve got a link to the program on our website. If we come together we can make a difference.
Tony Sikes, a DJ on Cat Country 98.7, is equally optimistic. When you look at what Upside2Downs and the Ice Flyers are trying to do for these people in need, its a great thing. Every ticket makes a difference, and it directly benefits families in need.
Upside2Downs is an organization that works to include people with Down syndrome into everyday American life. By equipping families with knowledge and support, Upside2Downs helps children with Down syndrome experience the same opportunities as other children their age.
To purchase tickets please contact:
Fred/Ailyne Gilliard
phone: 850-293-1367
email: upside2downs@gmail.com
Game Date: March 25, 2010
Time: 7:05 P.M.
Where: Pensacola Civic Center
Ticket Prices: $14 corner seats, $16 center ice
Teams: Pensacola Ice Flyers vs Lousiana Ice Gators
UPside2Downs is putting a twist on the dreary imaginations put on our children and adults that have Down Syndrome. We are an organization that is going to aid and include those with Down Syndrome into society, and not as second class citizens. We are equipping our families with the knowledge to know how to allow their children to have every opportunity that everyone else has. When you involve the community and local agencies, we belive that acceptance and inclusion will blend into one. Believe me, there is an UPside to Down Syndrome.
Related Articles On Pensacola Real Estate News:
UWF Student Shares Her Love With Children In Need
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Impact From the HomeBuyer Tax Credit
March 2nd, 2010 Categories: First Time Home Buyers, Pensacola Real Estate News
How much impact has the extension of the home buyer tax credit had on Pensacola Real Estate sales?
The answer is elusive. There are many factors involved that make it hard to determine what impact the tax credit has had on local real estate sales. One report released on March 1st, 2010 indicated that the extension of the tax credit has had very little impact on real estate sales on a national level.
Congress extended the first time homebuyer tax credit of $8000 through June 2010. In addition, they added a tax credit of $6500 for existing homeowners who decide to purchase another home (it must be their primary residence).
The report I read through the Florida Association of Realtors indicated that so far, people are staying put. The results of the report are based on nationwide real estate sales and interviews with real estate agents around the country.
Why isn’t the homebuyer tax credit working as expected?
High Unemployment Rate
The unemployment rate is still near 10 percent and consumer confidence is falling. During periods of high unemployment and low consumer confidence, buyers tend to wait it out, not run out and buy a home.
Many Homeowners are Upside Down
While many homeowners would love to sell right now, their mortgage is higher than the value of their home. They are stuck where they are.
Harsh Winter Weather
Since we have had an unusually cold winter, many would-be buyers are not out house shopping. Even Pensacola has been unseasonably cold this winter.
Tax Credit Just Not Big Enough
It appears the tax credit is just not enough to entice buyers out into the real estate market. When people’s confidence is low, they are more likely to play it safe and stay put, even if they have the ability to move. And the amount of the tax credits is not even enough to cover moving and closing costs if selling an existing home to purchase a new one is even an option.
I checked the Pensacola Real Estate Market sales for February 2010 (full report coming soon) and was pleasantly surprised to find that Pensacola Real Estate sales are on par to match or exceed last year’s February home sales. February already has 259 home sales, which is 50 more than January of this year (see January Pensacola Real Estate Market Report).
As of this writing, February is over and we’re into March. However, there are still real estate agents who have not entered their sold listings from February into the Pensacola MLS. To get the most accurate real estate market data, I usually have to wait a week to 10 days after the end of the month to check the local market statistics. (Personal pet peeve, which I won’t get on a soapbox about at this time).
Tax Credit Qualification
To qualify for the $6,500 credit, buyers must have owned and lived in the same home for five consecutive years out of the past eight. They must sign a contract by April 30 and close before June 30. The home’s purchase price can’t exceed $800,000, and it must be used as a main residence. The income limit for single taxpayers is $125,000; for a married couple, it’s $225,000.
The same rules above apply to first-time homebuyers, except that the tax credit is $8000 and the buyer must not have owned a home for the previous 3 years.
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Federal Flood Insurance Program Dried Up
March 1st, 2010 Categories: Insurance, Pensacola Real Estate News
Thanks to Congressional inaction (so what’s new), the federal flood insurance program has dried up. Congress failed to extend the National Flood Insurance Program, so it expired Monday (March 1, 2010).
The National Flood Insurance Program is essentially the only place anyone can buy flood insurance. Almost every local insurance agent across the country uses the program to cover homeowners during a flood. The program is normally renewed every year by Congress, but now right now the flood insurance program is tied up in the Senate as part of the same legislation that is being opposed by Republican Senator Jim Bunning of Kentucky.
Fortunately for the Pensacola area, this is not the season we really worry about flooding. Once this issue gets worked out in the Senate, it is likely the flood insurance program will be back in effect. Fortunately for home buyers, this little Senate glitch is not likely to delay many real estate closings, and if so, only for a few days.
UPDATE – March 4, 2010: The U.S. Senate had reauthorized the National Flood Insurance Program after a legislative stalemate halted new policies and renewals on Sunday. The Senate approved stopgap legislation late Tuesday night that extended funding for a host of programs, including jobless benefits and the flood insurance program.
Pensacola Real Estate News Related Articles:
Just Because You Are Not In A Flood Zone Doesn’t Mean You Don’t Need Flood Insurance
How To Determine The Cost Of Flood Insurance
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Will the Cold Pensacola Weather Ever End?
February 28th, 2010 Categories: Local Stories, Pensacola Pictures
Every day I have been hearing people in Pensacola complain about how cold it is, and that we are not getting much of a break from this cold weather. Whenever we have a beautiful day with warmer temperatures, I get my hopes up that Spring is finally here. Then it inevitably gets cold again that very night.
It has been a very unusual winter for Pensacola. The Pensacola Real Estate Market has also been very cold in January 2010. Read the Pensacola Real Estate News January Market report for the numbers. It’s not just Pensacola. Real estate sales around the country have seen very low numbers for the beginning of 2010. When you get down about the cold weather, and think it will never end, remember how cold it was in early January in Pensacola. Here are some pictures to jog your memory. It was COLD!!!!
Frozen Fountain at Seville Square in Downtown Pensacola. More beautiful Frozen Pensacola Fountain Pictures
Animal cruelty? Left out in the cold. I hope PETA doesn’t find out about this.
Sitting out on these lawn chairs would add literal meaning to the term “freezing your butt off”.
Just park your cab next to a lawn sprinkler and get a day off work. Even with all that cold weather, there was no snow in January. However, just a month later, south Alabama was blessed with a day of the white stuff. I took a trip up to Brewton Alabama to experience the fun. Click on The Gulf Coast Snow Storm of 2010 for more pictures.
Can you spot 3 snowmen in this one picture? They were snow-crazy in Brewton Alabama this year.
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Coral Creek Subdivision Report by Pensacola Real Estate News
February 27th, 2010 Categories: Southwest Pensacola
This article provides a Pensacola real estate market report on the Coral Creek subdivision. If you are interested in seeing any homes in the Coral Creek subdivision, or any other Pensacola Homes For Sale, Contact Me for assistance. All of the homes pictured on this page were for sale at the time this article was published.
To see all current Pensacola Homes for Sale in Coral Creek, simply click the link below:
Pensacola Homes For Sale In Coral Creek
Coral Creek is located Southwest Pensacola. Coral Creek is accessible from Blue Angel Parkway and Sorrento Road (a.k.a. Gulf Beach Highway). Coral Creek’s location is convenient to the Perdido Key beaches, Pensacola Naval Air Station and Corry Field Naval Base.
Anyone who works on Pensacola NAS would find Coral Creek to be one of the most convenient subdivisions to NAS.
If you have younger children, the Perdido Kids Park is just a few miles down the road, along with the Big Lagoon State Park. And the Perdido Key beaches are just 10 minutes away. If you are in the military and stationed at Naval Air Station (NAS) Pensacola, Coral Creek is just about 2-3 miles from the back gate entrance to the naval base.
Summary information for Coral Creek is provided below.
Escambia County School Districts for Coral Creek Subdivision:
Elementary: Pleasant Grove
Middle: Bailey
High: Escambia
Homes in Coral Creek generally fall into the following ranges:
Age of Homes: Homes in Coral Creek were generally built between 1990 and 2006
Number of Homes in Subdivision: 443 (approximate)
Square Footage: 1300-2300 range
Avg Sq. Footage: 1760
Bedrooms: 3 mostly, with some 4 bedroom homes
Bathrooms: 2
Garages: 2 Car
Lot Sizes: .2 – .5 acre
Waterfront? None
Home Owners Association: Coral Creek has a HOA. Dues are $30 per year (cost per year not confirmed).
Approximate travel times to popular Pensacola destinations:
Downtown Pensacola: 25 Minutes
Cordova Mall / Pensacola Airport / Pensacola Junior College : 30-35 minutes
Pensacola Beach : 45 minutes
Perdido Key: Under 15 minutes
University of West Florida: 35-40 minutes
Pensacola Naval Air Station (Home of the Blue Angels ): Under 10 minutes
The table below shows Pensacola Real Estate data for Coral Creek subdivision for the past 6 years. The numbers in the table are created using data from the Pensacola MLS and are deemed reliable but not guaranteed. These numbers do not include sales by Pensacola FSBOs.
Notice that prices have dropped from the 2005-2008 levels and Coral Creek is back near the 2004 price level. Notice also that days on market in 2009 are almost a month lower than in 2008. The close proximity to Pensacola NAS is a key feature that makes Coral Creek a popular Southwest Pensacola neighborhood.
Related Pensacola Real Estate Articles on other SouthWest Pensacola Subdivisions:
Emerald Shores
Herons Forest
Southbay
Previous Report On Coral Creek
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Unusual Real Estate Foreclosures In The News
February 25th, 2010 Categories: Foreclosure, Pensacola Real Estate News
Real estate foreclosure is a grim reality of this current real estate market. In the Pensacola Real Estate market, on February 25, 2010, there were 213 foreclosure properties and 564 short sales listed as Pensacola Homes For Sale. The total number of homes and condos listed in the Pensacola real estate market was just over 4400. This means approximately 17% of the Pensacola homes for sale are either foreclosures or short sales.
Foreclosure properties are already owned by the bank. Short sales are still owned by the homeowner, but are destined for foreclosure if they cannot be sold at a price lower than the amount owed to the bank. See the article Short Sales – Is It Really Worth It?
A couple of interesting real estate foreclosure stories have surfaced this week that I thought were worth noting. Fortunately, no one got so frustrated that they flew a plane into a bank building, as in the case of the Joe Stack who piloted his plane into the Austin Texas IRS building.
However, a man in Ohio bulldozed his home in retaliation of a bank’s plans to foreclose on his home. Apparently, Terry Hoskins only owed $160,000 on the home, which was valued close to $350,000. He was already in hot water with the IRS in relation to his businesses. Then the bank refused to stop foreclosure proceedings even though he indicated that he had a buyer who would pay off the balance of the mortgage. As the story goes, the bank wanted to foreclose so they could resell the home for more than the balance owed and actually profit from the deal. There is always more to a story than you read in the news, so I’m not sure of all the details. Either way, the home is now a mound covered by snow. 
Terry has now become somewhat of a hero to those who resent how banks have been so generously treated by the government with bailout money while still giving out large bonuses to employees. Ronnie Ray Jenkins even wrote a song called the Ballad of Terry Hoskins. Check out the video below. Here are some teaser lyrics:
There were no bailouts for Terry
There were no bonuses to spend
So he grabbed the keys to his dozer
It was the beginning of the end
Thanks for the great song Ronnie!
In an unrelated story, Bank Of America foreclosed on a home that was owned by a couple who had paid cash for it. Yes, they owned the home outright.
The couple filed a lawsuit on January 20 that alleges Bank of America seized the house, removed the belongings, and changed the locks on the their home. The bank had an incorrect address on foreclosure documents. The house it meant to seize was across the street and about 10 doors down. But the couple and a Realtor employed by Bank of America were unable to convince the bank that it had the wrong house. The couple are seeking unspecified damages from Bank of America, including negligence, trespassing, emotional distress, defamation, libel, and a tarnished reputation.
When the media made an inquiry to the bank regarding this situation, here is the email response they received. ”We have reached out to the Cardosos’ representatives and hope to have the opportunity to work with them to properly assess and address their allegations”. “We are reviewing the allegations in the lawsuit, the actual events that led to them and the causes of those events, and will consider any hardship that resulted.”
Talk about legal speak. After the travesty perpetrated by the bank, you would think they could show a little more compassion and understanding when dealing with these sensitive situations. With the money they have, I would think they could hire some PR people that could do a much better job of publicly addressing this embarrasing mistake.
These are pretty extreme stories, but foreclosures are so common today that these types of situations do not come as a big surprise to me. Look for me to publish an article shortly detailing some important things you need to know about foreclosure.
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