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 (hollandjames@hotmail.com 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.

hollandjames@hotmail.com

850-206-6140

Pensacola Real Estate Market Data January 2012

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:

 Free Legal Advice for Florida Real Estate Owners Facing Foreclosure 

 Short Sales – Is It Really Worth It?

DR Horton Pensacola 'Bridgeview' 6 bedroom 3 1/2 bath

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. 

 
View Larger Map

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.  

DR Horton Pensacola 5 bedroom 3 bath Mckenzie Floorplan

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.

DR Horton Pensacola 4/3 "Brookstone" floor plan

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

Winners Gait

Cottonwood

View Larger Map

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

Dr Horton Pace "Brookstone

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.

DR Horton Pace Florida Mckenzie Plan

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:

Cumulative Analysis

Sold Property Analysis

To see other posts on  DR Horton Pensacola neighborhoods click on the links below 

Nature Trail

Indian Lake

Soaring

Claridge Park

Bristol Park/Creek

Shepherds Grove

 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.

D.R. Horton Pensacola

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

or contact me here 

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.

D.R. Horton Pensacola

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

Nature Trail

Indian Lake

Soaring

Claridge Park

Shepherds Grove

Innerarity Point/Island

Innerarity Point and Innerarity Island have something to offer for everyone in the Pensacola Real Estate Market.

If you are looking for secluded upscale waterfront homes or lots, Innerarity Island will be the first place to look.

 To see all available Homes For Sale on Innerarity Point or Island click this link 

Or call Jim Holland at 850-206-6140 or e-mail me here

View Larger Map

It is technically not an island, but a peninsula, attached to Innnerarity Point by a narrow causeway. So there is no bridge to cross, only dry land.

Innerarity Point/Island

It is a beautiful area of big oak trees with Spanish moss surrounded by waterfront on all sides.It is a boater’s dream with easy access to the Gulf of Mexico through either Pensacola Pass, or the pass at Alabama Point. 

Innerarity Point/Island

There are quite  few interior lots on Innerarity point still available, and usually a few waterfront and interior homes for sale.  It is a great place to live if you are looking for  peace and quiet

Innerarity Point/Island

It is just a few miles from the sugar white beaches of Perdidio Key.  It is also very close to Pensacola NAS.

Innerarity Point is also home to the famous Original Point Restaurant where they have some of the best seafood in Pensacola, and Hub Stacy’s Bar and Grill, which has  great live entertainment and a public boat launch.  

Further eastward up the point there are many waterfront homes that range in price up to a million dollars, and an eclectic collection of interior homes and townhomes in every price range built from the 1950’s  through today.

Innerarity Point/Island

 As you can see by the data below for 2011, Innerarity Point really does have something for most every price range.

Cumulative Analysis

Sold Property Analysis

Some areas of Innerarity Point have surprisingly high elevations, as can be seen from the homes on Canal drive just west of the Theo Barrs bridge.  On the north side of the point,  there are also some low wetlands.

It seems as though there is always building going on out that way, as some of the older homes get updated, and some are torn down to make way for new homes and townhouses.

Because of the one-way-in one-way-out access, and the amount of desirable waterfront property, I think the future of that area is going to be bright, and that it will be a great place to live. I am thinking about buying a lot out there myself! 

 Also a new Publix supermarket has opened, so shopping is now very convenient.

For subdivision reports on other neighborhoods in Southwest Pensacola, check out  the links below

Chevalier

Chandelle

Manchester

Herons Forest

Emerald Shores

To see all homes for sale in the neighborhood of Chevalier click this link

Chevalier subdivision is a Southwest Pensacola neighborhood built from the early to late 1990’s. Chevalier is a few miles west of the back gate of Pensacola NAS, and lies just across the street from the inter-coastal waterway

Here is the sales data for Chevalier subdivision for 2011

Cumulative Analysis

Sold Property Analysis

To find out more information about Chevalier subdivision or any Pensacola neighborhood, call Jim Holland at 850-206-6140

or e-mail me at hollandjames@hotmail.com

The name Chevalier comes from the original airfield at Pensacola NAS, which was named after one of the first Naval Aviators. Godfrey Chevalier who was designated as Naval Aviator #7.

So it is no surprise that Chevalier, like the popular Southwest Pensacola neighborhoods  of Emerald Shores and Chandelle that are to the east and west of it, has been popular with Navy and Civil service buyers and retirees from the time it was built.

Chevalier consists of homes from 1800 to 3000 square foot contemporary 3 and 4 bedroom with mostly brick construction.

Quite a few of the homes have pools and many have enclosures. Almost all have two car garages.

It is very convenient to the Beaches of Perdido Key and the new Publix grocery store just a few miles to the west.

Detailed information on Chevalier subdivision homes is provided below.

Age of Homes: 1992  and later
Construction: Contemporary style
Square Footage: 1800 to 3000

Bedrooms: 3 to 5
Bathrooms: 2 to 3
Garages: Mostly 2 Car
Lot Sizes: .30 +/- acres
Waterfront? None
Homeowners Association Fees: $200 per year

Approximate travel times to popular Pensacola destinations:

Downtown Pensacola: 20-25 Minutes
Cordova Mall / Pensacola Airport / Pensacola State College: 35-40
minutes
Interstate 10: -30 Minutes
Pensacola Beach : 40-45 minutes
Perdido Key Florida: Only 10 minutes from beautiful Perdido Key
beaches
University Of West Florida: 45 minutes
Pensacola Naval Air Station (NAS) (Home of the Blue Angels): 10 minutes to back gate
Saufley Field Naval Base: 20 minutes
Corry Field Naval Base: 15 minutes

To visit other Southwest neighborhoods in the Pensacola Real Estate market click the links below:

Chandelle 

Galia 

Manchester 

Coral Creek 

Herons Forest 

Emerald Shores 

Southbay

Innerarity

 If you would like more information on Chandelle, call Jim  Holland at 850-206-6140 or e-mail me at hollandjames@hotmail.com

Pensacola Real Estate Chandelle

Chandelle was built in the late 1990’s through the 2000’s and I think almost all,  if not every home, was built by Classic Homes, a well respected local builder.

 Chandelle is fairly unique in Pensacola real estate, because it is built around a series of small lakes that give many of the homes water front. Also, in the classic south Florida design, many of the homes have large lanais and screened in pools.

Pensacola Real Estate Chandelle

Classic was one of the first builders to start building this design and they still build some of these same floor plans in newer Pensacola real estate neighborhoods, such as Nature Trail.

 Sales in Chandelle always seem to be good, mainly because of its proximity to Perdido Key, and Pensacola NAS , the National Naval Aviation Museum,and Pensacola Corry Station. If you live in Chandelle you will most likely have Navy or Civil Service folks for neighbors, as it is just minutes from the back gate of Pensacola NAS.

It is also very close to the Gulf Island National Seashore which is my favorite beach in all of North West Florida. It has about seven miles of undeveloped pure white beach that ends at Pensacola pass and is a protected federal reserve. It is home to large osprey and heron populations and an occasional bald eagle. And, on any given day you are likely to see dolphin swimming by.   

Pensacola Real Estate Chandelle

Here is the Pensacola MLS home sales data for 2011 for Chandelle

Cumulative Analysis

Sold Property Analysis

To visit other Southwest neighborhoods in the Pensacola Real Estate market click the links below:

Chevalier

Manchester

Coral Creek

Herons Forest

Emerald Shores

Southbay

Galia

Innerarity

First, that we have a total of 124 active condos listed, and in 2011 we sold a total of 149.

That indicates to me that by the end of this year we may have consumed most, if not all of the excess inventory that has been on Pensacola Beach for the last several years.

 I know  a lot of people think that the number of foreclosures still to come will keep inventory high, but according to the Pensacola MLS, of the current 124 condos for sale on Pensacola Beach only 9 are foreclosures or short sales, and as you can see by the chart below six of those are in Portofino,which only leaves four foreclosures or short sale starting off the year.

Portofino Pensacola Beach Real Estate

That is a far lower percentage of  foreclosures or short sales than the rest of the Pensacola Real Estate market,and far lower then we have had on Pensacola Beach for years.

To get more information on Pensacola Real Estate
call Jim Holland at 850-206-6140

or e-mail me at hollandjames@hotmail.com

It is good news that  the obviously good deals are selling immediatly,because for a while even those were sitting on the market.

Also,  though that unit is sold, there are still some great units in Galia still available .

To see all available units in Galia click  this link      

If you would like to take a look at these units in Galia or any condos in the Pensacola Real Estate market  call Jim Holland 850-206-6140 or if you would like more information,e-mail me at

hollandjames@hotmail.com

Most buyers at least once during the process of looking for a home or an investment will second guess themselves about a property that they passed over, and that then sold quickly thereafter,and they often ask me if they made a mistake by letting the property go.

I always try to make them feel better about their decision to pass on the property, by giving them a piece of advice I got years ago from a very seasoned investor

“The deal of a lifetime comes along about every three weeks” 

I find that to be true with very very few exceptions.

Still I am always on the look out for that good deal that comes along just now and then,so I wanted to point out what seems to be one of those.

I noticed a fourth floor unit in the Galia condominium that has been listed at $149,900. It is a two bedroom 1488 square foot unit that sold in 2007 for $635,000.

Galia is one of the newest condos, and was built by WCI at the very end of the real estate bubble. And even though the association fees are a little pricey at $6442.00 per year, it is still a fantastic value at that price

That location has panoramic views of the Intercoastal and the Gulf of Mexico.It is also  very close to the pass between Santa  Rosa Island and Perdido Key.

Pensacola Real Estate Condo Foreclosure

As you can see, this unit is priced  very competitively with the activity in the rest of the building.

To view articles on other neighborhoods in Southwest Pensacola, check out the links below.

Chevalier

Chandelle

Manchester

Herons Forest

Emerald Shores