Karl Burger - 's Blog

Scenic Heights Subdivision Report

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Wed, 06 Aug 2008 22:29:01 -0500

Original Post on Pensacola Real Estate News

This article provides a Pensacola real estate market report on the Scenic Heights subdivision.

If you are interested in seeing any homes in the Scenic Heights subdivision, or any other homes for sale in Pensacola Florida, please feel free to 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 Scenic Heights, click on Search for Homes.

On the Property Search screen, click on the "More Search Options" button.

Then type Scenic Heights into the "Subdivision" category and click the "Search Now" button at the bottom of the screen.

Scenic Heights is located in NorthEast Pensacola. It is within the City Of Pensacola limits.

Scenic Heights is accessible from Langley Avenue or Creighton Road.

Scenic Heights is convenient to Cordova Mall, Pensacola Junior College, and the Pensacola airport. Many other popular Pensacola destinations are around 30 minutes from Scenic Heights.

Information on travel times provided below will depend on traffic and time of day.

Approximate travel times to popular Pensacola destinations:

Downtown Pensacola: 20 Minutes
Cordova Mall / Pensacola Airport / Pensacola Junior College: 5-10 minutes
Interstate 10: 5-10 Minutes
Pensacola Beach : 30-35 minutes
Perdido Key Florida: 40-45 minutes
University of West Florida: 20 minutes
Pensacola NAS (Home of the Blue Angels): 30-35 minutes
Saufley Field Naval Base: 25 minutes
Corry Field Naval Base: 25 minutes

Visit Pensacola Real Estate News to view the rest of this post.

Mobile Alabama Needs Real Estate

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Wed, 06 Aug 2008 22:24:39 -0500

Original Post on Pensacola Real Estate News

Alabama economic development officials are urging commercial real estate brokers and agents in Mobile and Baldwin counties to locate tracts of land that could be used by suppliers to the ThyssenKrupp steel mill and the Northrop Grumman-EADS aerial tanker assembly complex. Mobile has one of the fastest growing economies in the nation, and real estate will be at a premium as these developments move forward.

While recent government actions have put the Air Force contract on hold , Alabama intends to go ahead with plans to attract suppliers to the area.

If you are not familiar with the economic growth in Mobile, I refer you to these previous articles on Pensacola Real Estate News:

Boeing Wins Air Force Tanker Award Protest

Air Force Awards Tanker Contract

The Real News Is Next Door In Mobile

Thyssenkrupp steel plant in Duisburg Germany.

On June 10, Alabama Governor Bob Riley met with over 100 Alabama commercial real estate brokers and agents. His message to them was that they needed to help find tracts of land from 300 to 400 acres to turn into industrial parks. Said Gov Riley, "You help us find it and we'll help you sell it".

The next big job is to go after the suppliers.

Gov Riley and the Economic Development Partnership of Alabama plan to start a large recruitment effort for suppliers. Part of this effort includes recruiting at the Farnborough International Air Show in England next month. According to Riley, "These will be some of the best jobs created in America and for the next generation".

Boeing Protest Decision Spoils The Party

The one cloud looming over the tanker contract is the Boeing protest over the awarding of the Air Force contract to Northrop Grumman-EADS. This cloud has burst and rained out the ground-breaking ceremonies planned by Northrup Grumman. The Government Accountability Office has ruled in Boeing's favor on this protest. This means the contract may have to be rebid.

The real estate agents were told that there could be between 15 and 35 different supply companies locating in Mobile to support the plants, but this was prior to the Boeing protest award. I expect there will still be considerable land requirements to support other growing industries in Mobile, especially the steel plant.

"In no form or fashion is this going to slow the momentum," Mobile County Commission President Stephen Nodine said. "We have full confidence that when it's all said and done, the (tanker) will be built in Mobile."

"But while the tanker project grabbed headlines in recent months, the state already has a rich aerospace landscape, dotted with major names and a variety of products and services, from rockets and missiles to maintenance and engineering", said Neal Wade, director of the Alabama Development Office.

Wade cited Alabama Aircraft Industries Inc. in Birmingham and Pemco World Air Services in Dothan, Lockheed Martin Corp. and Sikorsky Aircraft in Troy and GKN Aerospace in Tallassee and Montgomery as examples. But we need something a little closer to home to help out the Pensacola area economically.

Nearly 100 Alabamians led by Gov. Bob Riley still plan to meet with suppliers at the Farnborough International Air Show in England next month and continue to work with them in anticipation of a final contract outcome. Governor Riley and other members of the Alabama delegation have a full slate of meetings lined up with with tanker suppliers, as well as businesses tied to other projects and other parts of the state.

I will keep tracking the developments in Mobile and post articles as news develops.

Click on Pensacola Real Estate News for a list of articles indexed by category.

Pensacola Real Estate Beach Market Report For The First Half Of 2008

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Wed, 06 Aug 2008 22:20:33 -0500

Original Post on Pensacola Real Estate News

Pensacola Market Data For Residential Properties
On Pensacola Beach And Perdido Key Florida
January - June 2008

The numbers in the table show the Pensacola real estate sales on the beaches for the first 6 months of 2008.

As of the writing of this report there are 11 Perdido Key Condo sales Pending and 6 Pensacola Beach Condo sales Pending. The total number of homes and condos for sale on the beach has not increased since January, so we are holding steady on inventory in the mid 700s.

The table above just gives a snapshot of the market at this time, which does not really tell a story. The table below is much more interesting.

Pensacola Market Data For Beach Homes and Condos
On Pensacola Beach And Perdido Key
For the First 6 Months Of Each Year

Be aware that the numbers showin in the table are only for the 1st 6 months of each of the years listed. This was the only way to make a good comparison to 2008. At the end of 2008 I can give you a full years worth of data on the beach real estate report.

What we can see in this table is the way the real estate markets on the beaches have moved since 2000. Here are some observations:

If you purchased beach real estate from 2000 to 2004, you are doing well as far as the value of your investment

2002-2004 were the hottest years as far as beach real estate sales volume. During this period, the beach homes and condos were much more affordable and we saw sales from 180 to almost 300 units.

2005-2007 saw decreasing sales and increasing days on market as prices rose sharply.

Now in 2008 we see sales up just a little above the 2007 levels and prices holding steady. Many Pensacola real estate agents believe that prices on the beaches have pretty much bottomed out. I will provide future reports on the beaches and we'll see if that is indeed true.

- The table shows real estate market data for Pensacola condos and residential homes on the beaches.
- Vacant land or lots are not included.
- The numbers above are created using data from the Pensacola MLS and are deemed reliable but not guaranteed

Click on Pensacola Real Estate News for a list of articles indexed by category.

Pensacola Real Estate News Weekly Market Report for Week Ending July 19, 2008

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Wed, 06 Aug 2008 22:17:24 -0500

Original Post on Pensacola Real Estate News

Pensacola Real Estate Market Data
Weekly Update For Residential Listings
In Escambia and Santa Rosa Counties

Here is another weekly Pensacola real estate market report. This one covers the week of July 13 - 19.

There is not much to report this week that is any different from the previous few weeks. Sales are up a little, and I expect they will increase even more as we get closer to the end of the month.

News reports show that foreclosures are still rising, and we are seeing that in the Pensacola real estate market. Short sales are everywhere these days.

I have done quite a bit of home searching for clients recently and it seems like every other home I came across is a short sale. It is almost assured that when I find a home that looks like a really good deal, it turns out to be a short sale.

Check out my article on Pensacola Real Estate Short Sales - Is It Worth It for more information on why short sales are so frustrating for both the real estate agent and the buyer.

Look for more posts coming soon about the number of short sales on the market and the problems with buying bank owned foreclosure properties.

Check out my 6 Month Pensacola beaches market report where I show the active real estate listings and sales on Pensacola Beach and Perdido Key for the first 6 months of 2008.

If you are interested in sales of homes in different areas of Pensacola, check out my Pensacola Real Estate Market Report By Area post which breaks out the sales by different areas Northwest Florida.

- The table shows the weekly market data for Pensacola residential property.
- These numbers include only residential homes and condominiums in Escambia County and Santa Rosa County that are listed in the Pensacola MLS.
- They do not include vacant land or lots, mobile homes or manufactured homes or Pensacola FSBOs.
- The numbers above are created using data from the Pensacola MLS and are deemed reliable but not guaranteed

Click on Pensacola Real Estate News for a list of articles indexed by category.

Buy Now Or Pay More Later - Pensacola Real Estate Mortgage Rates Are Rising

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Sat, 02 Aug 2008 16:35:46 -0500

Original article on Pensacola Real Estate News

The price of food and gas is not the only thing that is rising. Mortgage rates are rising too. If you are looking to buy a new home, I recommend starting the process sooner than later. A down real estate market and low interest rates create the perfect opportunity for getting great deals on real estate. But waiting around for the "right time to buy" will end up costing you money in the long run. Now is the right time. Read on to find out why.

Here are just a few quotes from various news sources published in the past few days:

Mortgage Rates Rise Again - Fixed rate mortgages have reached their highest rates in over 10 months, according to bankrate.com.

Mortgage Rates At Highest Level In 9 Months

Mortgage Rates May Go Over 7 Percent This Year

Brian Brady is an excellent blogger whose blog I read regularly. Here is his most recent Mortgage Rates Report .

Brian believes that rates will come back down within 3 years, but could rise up to 2% before then. However, I believe that within 3 years the Pensacola real estate market will be well into another upward cycle. This means you will be paying considerably more for a home in 3 years compared to what you would be paying for that home today.

How Much Can Rising Real Estate Mortgage Rates Cost You?

The table below illustrates the cost of a 30-year mortgage at varying interest rates. The numbers are based on the mortgage being kept for the full term of 30 years.

Assuming the interest rate is 6.5% today, look how much the monthly payment goes up with each 1% rise in interest rates. It is over $100 per month for a $150,000 mortgage and over $130 per month for a $200,000 loan. These figures only include Principle and Interest, not insurance or taxes. If you were to live in the home for 30 years, the "Cost Over Today's Rate" column shows how much more you will pay over the life of the loan at higher interest rates.

Does buying a home now make sense?

Absolutely, assuming you can afford the home you want. Every real estate agent knows that we are close to the bottom of the real estate market in Pensacola, and interest rates will rise, at least for the next several years. If you can't afford the home you want, buy a less expensive home and use that to build equity and move up to a nicer home in the years to come.

Shop Carefully For The Real Bargains

I am not recommending just buying any home. There are a lot of homes on the market and some of them are super deals. Others are grossly overpriced. This is where a good real estate agent can help. A good agent can help you analyze the value of various homes on the market that you may be interested in purchasing and help you find motivated sellers who are willing to sell at bargain prices.

If you are ready to buy, please feel free to Contact Me for assistance. I can help you make sure that you get the most for your money.

Click on Pensacola Real Estate News for a list of articles indexed by category.

Declining Real Estate Market Policy Scrapped by Fannie Mae

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Sat, 02 Aug 2008 16:31:49 -0500

See original post at Pensacola Real Estate News

The Pensacola Real Estate market was listed as a "declining market" by Fannie Mae. Fortunately, Fannie Mae has decided to scrap the "declining markets" policy. This policy required loan underwriters to boost minimum down-payment requirements by 5 percent in areas where home prices are falling or difficult to determine. Pensacola Florida was considered one of those areas. The policy also applied if an appraiser determined a property was in a declining market.

This is great news for potential home buyers in the Pensacola real estate market. Beginning in June 2008, Fannie Mae will instead require 3 percent down payments for conventional, conforming mortgages processed through its Desktop Underwriter automated underwriting system, and 5 percent minimum down payments for loans processed manually. Larger down payments may be required depending on occupancy, property and transaction types.

Last month, the National Association of Realtors (NAR) sent a letter to Fannie Mae complaining that entire metropolitan areas were being labeled as "declining markets". Actual values in local neighborhoods were not being taken into account. The result of this policy was to discourage potential home buyers from entering the real estate market. The policy kept some would-be home buyers from taking action because they could not come up with the funds to make the increased down payment. Others avoided buying because they were afraid to do so if prices were still declining.

In the letter, NAR stated "In either case, the impact of the policy becomes a self-fulfilling prophecy that creates declining markets that did not exist before and intensifies the decline for markets that are declining and delays their recovery"

Note that the declining market policy was not considered a factor in getting an FHA loan, which is the loan most first time home buyers find the easiest to get in this market. Either way, I believe it is a good thing this policy was scrapped. Anything we can do to boost our local economy and real estate market is a plus.

Click on Pensacola Real Estate News for a list of articles indexed by category.

FBI Shifting More Resources To Mortgage Fraud

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Sun, 27 Jul 2008 20:55:14 -0500

Original Article published on Pensacola Real Estate News

I have reported in several articles about the rise in real estate mortgage fraud. A news story was published from Inman news today that indicated the FBI is shifting even more resources to investigations of mortgage fraud. This shift is occuring in 26 field offices in areas hit hardest by mortgage fraud.

Agents in these field offices have actually been ordered to temporarily stop opening new investigations on other crimes, such as wire fraud, mail fraud, price fixing and environmental crimes.

While Florida is one of the top 10 states for mortgage fraud cases, most of these cases are in the central and southern part of the state. Pensacola has not seen the level of fraud that other areas of Florida have. This is due mainly to the fact that Pensacola was not as speculative of a market as other areas of Florida were. Read more in the related articles below about mortgage fraud in Florida, and a case we saw right here in Gulf Breeze Florida.

Related Articles On Pensacola Real Estate News

Mortgage Fraud On The Rise
Did Speculators Accelerate The Florida Housing Downturn

Click on Pensacola Real Estate News for a list of articles indexed by category.

How Home Sellers Can Protect Themselves From Liability For Unpermitted Improvements

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Sun, 27 Jul 2008 20:34:27 -0500

Original Article On Pensacola Real Estate News

There have been a lot of improvements made to real estate in Pensacola. With so many homes being damaged by hurricane Ivan in 2004, most homes had some type of repair done. Many home owners took this as an opportunity to upgrade their homes. But what about permitting these upgrades? When selling real estate, permits for repairs and improvements can become an issue.

Many improvements made to a home require permits. For example, installation of new windows, new Heating/AC systems, a new roof or electrical work will require a permit. However, often times home owners would like to save a little money and do the work themselves or with some friends. It is, after all, much cheaper to buy a few cases of beer and get your buddies over for a weekend re-roofing party, rather than hire a licensed roofing contractor. How many unlicensed "weekend home improvement experts" do you know?

The problem with unpermitted work comes when it is time to sell the home. According to the most current real estate contracts, the home sellers should be able to back up any work done that requires a permit with proof that the work was permitted and approved by a licensed county/city inspector. It is very important to note that these improvements may have been done PRIOR to this seller's ownership of the property, but the current owner is held responsible for insuring that all improvements to the property were properly permitted.

Now that doesn't really seem fair, but that is the reality of it.

So how does a home owner handle selling a home on which unpermitted work has been done? Contact an attorney, and provide FULL DISCLOSURE!!!

This means full disclosure in writing in the real estate disclosure forms or the real estate contract. Do not use any language that suggests or implies that the work was done correctly, or "according to building codes". Such statements or implications can get sellers into future legal dilemmas.

When disclosing that work was done without permits, sellers should state that "no guaranty is made regarding compliance with building codes." Sellers should also recommend that buyers hire a qualified home inspector to evaluate the condition of the improvements, as well as the rest of the property. With that kind of disclosure, sellers should be reasonably safe from complaints after the home is sold. Of course, in this litigious society, there are no guarantees.

I am not an attorney, so the best advice I can give in this situation is to contact an attorney, and take the attorney's advice, which will likely be to provide full disclosure as described in this article. There have been cases of sellers being sued for damages from unpermitted work years after the sale of a home. Example: Faulty unpermitted electrical work causes fire resulting in the death of a resident. Huge lawsuit! Don't let this happen to you.

Pensacola Real Estate News Subdivision Report: Lake Charlene

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Sun, 27 Jul 2008 20:32:04 -0500

Original Post on Pensacola Real Estate News

This article provides a Pensacola real estate market report on the Lake Charlene subdivision. If you are interested in seeing any homes in the Lake Charlene subdivision, or any other homes for sale in Pensacola Florida, please feel free to Contact Me for assistance. All of the homes pictured on this page were for sale at the time this article was published.

Are you looking for an affordable Pensacola subdivision with beautiful yet affordable homes that is close to the area naval bases. Lake Charlene is worth checking out. I had previously described this subdivision as the "Jewel of Myrtle Grove".

In my research of Lake Charlene MLS listings, I think I saw the term "Serene Lake Charlene" mentioned about 5 times on different listings. I think this cliche has lost its charm, so I'll try to keep from overusing it, if I can help myself.

To see all current Pensacola Homes for Sale in Lake Charlene, follow these simple steps:

Click on Search for Homes.

On the Property Search screen, click on the "More Search Options" button.

Then type Lake Charlene into the "Subdivision" category and click the "Search Now" button at the bottom of the screen.

Lake Charlene is located in West Pensacola and is not within the Pensacola city limits. Very little within the Pensacola City Limits is as serene as Lake Charlene. Lake Charlene is accessible from 72nd Avenue in Myrtle Grove, just north of U.S. Hwy 98. Lake Charlene is convenient to the Perdido Key Florida beaches and local Pensacola military bases Pensacola Naval Air Station, Saufley Field, and Corry Field. Many other popular Pensacola destinations are under 30 minutes from Lake Charlene.

Information on travel times provided below will depend on traffic and time of day.

Approximate travel times to popular Pensacola destinations:

Downtown Pensacola: 20 Minutes
Cordova Mall / Pensacola Airport / Pensacola Junior College: 20-25 minutes
Interstate 10: 15-20 Minutes
Pensacola Beach : 30-35 minutes
Perdido Key Florida: 20 minutes
University Of West Florida: 30-35 minutes
Pensacola Naval Air Station (NAS) (Home of the Blue Angels): 15 minutes
Saufley Field Naval Base: 15 minutes
Corry Field Naval Base: 5 minutes (Corry Field borders Lake Charlene)

Escambia County School Districts for Lake Charlene Subdivision:
Elementary: Myrtle Grove
Middle: Warrington
High: Escambia

Homes in Lake Charlene generally fall into the following ranges:

Age of Homes: Built between 1975 and 1997
Construction: Mostly 1 story ranch style brick homes
Square Footage: 1500 - 3500
Bedrooms: 3 to 4
Bathrooms: 2-3
Garages: 2 car
Lot Sizes: .20 - .40 acres
Waterfront: Some homes are lake front, overlooking serene Lake Charlene
Swimming Pools: Of the Lake Charlene homes currently listed for sale in the Pensacola MLS, 4 had swimming pools.
Foreclosures: Of the homes currently listed for sale in the Pensacola MLS, none are foreclosure properties.
Home Owners Association. Yes. Annual fees are $60 according to listings in the Pensacola MLS
Serenity scale: (1-10): 10

Visit Pensacola Real Estate News for the rest of this report.

Just Because You Are Not In A Flood Zone Doesn't Mean You Don't Need Flood Insurance

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Sat, 26 Jul 2008 23:28:58 -0500

Original article on Pensacola Real Estate News

With the weather in the Pensacola area this week, I thought flood insurance would be an appropriate topic to discuss.

On Oct 18, Pensacola airport reported over 6 inches of rain, and over 9 inches was reported in Gulf Breeze.

And there is still more rain to come.

Owning real estate in the Pensacola area, or on the gulf coast in general, means living with ridiculously high homeowners insurance rates. The typical homeowner would assume that their insurance policy would cover anything that caused damage to their home, including flooding. Given the cost of insurance in Pensacola, that would seem to be a valid assumption.

Unfortunately, many gulf coast home owners found to their dismay that this was not the case after hurricane Ivan hammered Pensacola in 2004. Owners of flooded homes were given the cold shoulder by their insurance carriers, and the courts stood by the insurance companies.

Here are some important points regarding flood insurance.

1) Flooding is not typically covered under a homeowners insurance policy

Other losses caused by wind, fire, lightning, vandalism and burglary are covered. If you want to buy flood insurance, it must be obtained through the National Flood Insurance Program administered by FEMA. Your insurance carrier should be able to help you obtain flood insurance, although some insurance carriers have stopped providing this service.

2) Do Not Depend on Federal Disaster Assistance

To be eligible for federal disaster assistance, a community must be declared a federal disaster area. In most cases, flooding tends to be a localized event and a federal disaster declaration is not issued.

And IF disaster assistance is available, it is usually a loan you must repay, with interest.

After hurricane Ivan, the Pensacola area was declared a disaster area, and thus many homeowners without flood insurance were provided varying degrees of financial assistance. As an example, I knew a resident of a home in the Bayou Grove subdivision that was flooded with 3 feet of water when Bayou Chico rose from the Ivan storm surge. All of the owner's possessions were destroyed, and the home had to be gutted. FEMA paid $10,000 to cover damage to the home and the contents. Contractor estimates to repair the home were over $50,000.

3) Flooding can extend beyond flood zones

Approximately one third of all flood claims come from moderate to low risk areas outside of delineated flood zones. FEMA estimates that 1 in 4 homes in high risk areas will experience a flood over the course of a 30-year mortgage.

4) Flood insurance premiums are based on property location

In other words, if your home is in a flood zone, your premiums will be higher. To find out how much flood insurance will cost you, you need to know if you are in a low to moderate, or high risk flood area. Refer to this article on How To Determine The Cost Of Flood Insurance in Pensacola.

It is extremely important to know whether a home you are living in, or one you are considering purchasing is in a flood zone. I have seen several instances where a contract was finalized for the sale of a home only to fall apart weeks later when it was found that the home was in a flood zone.

5) Flood Insurance coverage

Comprehensive flood insurance coverage includes two policies.

The first covers the structure
The second covers the contents of the home.

When researching the cost of flood insurance, the policies will be broken down into these 2 categories.

The Pensacola News Journal wrote an article regarding Flooding in the Pensacola area after hurricane Ivan. This article provides useful information about flood insurance and some sad situations that could have been avoided by obtaining flood insurance coverage.

And if you do lose your home to a flood in Pensacola, there is a bright side. FEMA still has lots of trailers sitting out at the Saufley Field Naval Base just waiting for, well, waiting for something. They have been there since early 2005, so I'm not sure what they are waiting for. (Update: As of April 2008, the FEMA trailers are gone).

Those trailers out there are empty. There were too many to count. If anyone can help me understand why they are sitting out there, I'd love to know.

Here are some useful flood insurance links:

FEMA Information For Homeowners and Renters

Flood Smart

Click on Pensacola Real Estate News for a list of articles indexed by category.

Mortgage Fraud on the Rise

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Sat, 26 Jul 2008 23:26:09 -0500

Original article on Pensacola Real Estate News

Reports have been coming out that indicate the FBI has increased their real estate mortgage fraud caseload. That is not a big surprise, as a down real estate market provides an ideal climate for mortgage fraud perpetrators.

Examples of real estate mortgage fraud include builder bailouts, seller assistance, foreclosure rescue and identity theft in exploiting home equity lines of credit. An example of a builder bailout scheme would be a builder providing undisclosed incentives to buyers, such as returning the down payment.

Remember, to stay out of trouble, make sure everything is openly disclosed to all parties, including the lender. As a real estate buyer, don't let a seller try to provide you any incentives to buy that are not fully disclosed in writing.

The FBI had more than 1,200 mortgage fraud investigations open at the end of fiscal year 2007. This is a 47 percent increase from the previous year but still is estimated to be a small fraction of suspected cases. The number of suspicious activity reports (SARs) filed by banks detailing suspected mortgage fraud grew 31 percent during this same period, to 46,717. Although federally chartered banks are required to file SARs with the Treasury Department's Financial Crimes Enforcement Network (FinCEN), many other mortgage lenders are exempt, suggesting that the FBI is investigating only a small fraction of mortgage fraud cases.

The FBI said the top 10 worst states for mortgage fraud were Florida, Georgia, Michigan, California, Illinois, Ohio, Texas, New York, Colorado and Minnesota.

A Pensacola real estate attorney spoke recently at a Pensacola Real Estate Navigators meeting. She told the audience about a local case of mortgage fraud that she handled. A man had bought a house and lived in it for only a few years. He then forged a Satisfaction of Mortgage and recorded it in the public records. Thus it appeared that he owned the home free and clear. He then applied for a home equity loan. In doing the title work, the attorney became suspicious, as it is rare that someone pays off a home in a few years. She checked with the bank and found that they still held the mortgage and it had not been paid off.

The attorney went ahead with the closing on the home equity loan. The man came into her office and signed the necessary paperwork. On his way out, the police were waiting for him. He was arrested and taken away.

It is not worth it. Disclose everything to your lender and to your buyers if you are the seller. In the long run, this ensures that everything is legal and no one ends up ruining their life over simple and plain greed.

Fortunately, there is relatively little mortgage fraud in the Pensacola Florida area. Most of the real estate fraud in Florida will be in the southern part of the state. See related articles below.

Make Sure Your Home Warranty Is There When You Need It (Follow-up)

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Sat, 26 Jul 2008 23:22:30 -0500

Original Post from Pensacola Real Estate News

I recently wrote an article on Pensacola Real Estate News about how you should protect your investment in a home warranty by making sure that all warranted items were in working condition when you moved into your home. I noted that the home warranty company would try to find a way out of paying for repairs if at all possible. The article was written based on the experiences of one of my clients. You can read that article by clicking on this link: Pensacola Real Estate News - Home Warranty Article

The fact that I am writing a follow-up article tells you that I've learned something since that previous article was published. I also learned that I have readers out there who are sharing feedback with me, and I greatly appreciate that. Just the fact that I have readers really excites me.

The day after publishing that article, a manager from the local branch of Old Republic Home Warranty company called me. He thanked me for the great article and was very complimentary (Thank you Stewart). He also told me that my article was accurate up until mid-December 2007. He said that in December Old Republic modified their agreement to cover unknown pre-existing conditions. I took a look at the new home warranty agreement and found the following wording:

Coverage may apply to a malfunction which existed on the effective date of the Plan if, at that time, the malfunction was unknown, and would not have been detectable to seller, buyer or agent by visual inspection and simple mechanical test. This Plan does not cover known defects.

I will let my readers decide how they feel about this wording. I believe it does indicate that they would cover an unknown pre-existing condition, but I do not like the word "may". I prefer the word "will", as in "coverage WILL apply".

I do appreciate the call from the home warranty manager, and I fully believe he is sincere in his promise that they will cover pre-existing unknown problems. I do, however, still suggest that home buyers follow my advice given in the previous article. Check out all warranted equipment when you move in to your new home.

As for my client, well I'm afraid he was a male who doesn't do much cooking and wasn't clear on how to operate his warranted oven. After he was told by the sweet home warranty operator that his problem was not covered because he did not know if it worked when he moved in, he took another shot at it and found that the oven worked fine once he turned the correct knobs in the correct order. Now this guy in the picture is not my client, thank goodness. While he appears to know how to operate the stove, he kind of creeps me out with that sinister grin. I have to wonder what he is cooking.

Aside from the creepy dude, all is well with my client, and his lack of oven experience happened to make for a great article. However, he purchased his home warranty in February of 2008, after the new policy was in place. Thus the new "unknown pre-existing" clause should have been in effect. Was the home warranty operator unaware of the change in the contract? Or was she aware of the change, and still trying to avoid paying a claim? Good question.

I must end this article by saying that I have other clients who had warranties through Old Republic and were extremely satisfied with the service they received on warranted equipment. I am not trying to criticize any warranty company's service, only trying to show home buyers how to protect themselves against the unknown.

Click on Pensacola Real Estate News for a list of articles indexed by category.

Pensacola Real Estate Market Report For Week Ending July 12, 2008

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Sat, 26 Jul 2008 23:16:29 -0500

Originally posted on Pensacola Real Estate News

Pensacola Real Estate Market Data
Weekly Update For Residential Listings
In Escambia and Santa Rosa Counties

Here is another weekly Pensacola real estate market report. This one covers the week of July 6 - 12.

After a very good end-of-June showing in the local real estate market, we have had a major slow down this week. That is fairly typical for the beginning of the month. I'm just hoping for something fun to write about, but there is really nothing new to report this week, so I'll go with the same short sale blurb that I used the previous week. It still applies, and apparently will for quite some time.

I have done quite a bit of home searching for clients this few weeks and it seems like every other home I came across is a short sale.

Check out my article on Pensacola Real Estate Short Sales - Is It Worth It for more information on why short sales are so frustrating for both the real estate agent and the buyer.

Look for more posts coming soon about the number of short sales on the market and the problems with buying bank owned foreclosure properties.

Look also for an upcoming 6 Month beach report where I will show the active real estate listings and sales on Pensacola Beach and Perdido Key for the first 6 months of 2008.

Think You're In Good Hands? Think Again

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Fri, 25 Jul 2008 22:00:22 -0500

Original article on Pensacola Real Estate News

Homeowners insurance is a big expense in Pensacola Florida, and all along the gulf coast. Since the hurricane seasons of 2004 and 2005, insurance on real estate has risen dramatically, making it harder for people to afford to purchase homes. I understand that Allstate Insurance has stopped writing homeowners insurance in the state of Florida, as have other large companies. While you may be able to go to an Allstate office to get a homeowners policy, it won't be through Allstate. It would be underwritten through another company, such as Citizens.

I recently came across a couple of posts regarding Allstate that I wanted to share with my Pensacola Real Estate news readers.

I was speaking with two attorneys recently and they were discussing insurance settlements. Both were in agreement that Allstate was the most difficult company to work with when it came to winning claims for their clients. Shortly thereafter, I came across a post by the Pensacola Beach Blogger regarding Allstate. If you are considering purchasing insurance, I highly recommend reading his article. You can find it at the link below.

You're In A Bully's Hands With Allstate

And if that is not enough to get you hot under the collar, here is another web page I found with consumer issues with Allstate.

Consumer Affairs Allstate Complaints

If you are moving to Pensacola Florida and will be needing insurance, contact a good real estate agent to help you find a great value on a home. Your agent should also be able to offer good advice on where to get quality affordable insurance coverage. At least after reading this article, you have an idea of which company you might want to avoid.

Click on Pensacola Real Estate News for a list of articles indexed by category.

Pensacola Real Estate Report On Carracres West Subdivision

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Fri, 25 Jul 2008 21:53:34 -0500

This article provides a Pensacola real estate market report on the Carracres West subdivision. If you are interested in seeing any homes in the Carracres West subdivision, or any other homes for sale in Pensacola Florida, please feel free to 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 Carracres West, follow these simple steps:

Click on Search for Homes.

On the Property Search screen, click on the "More Search Options" button.

Then type Carracres West into the "Subdivision" category and click the "Search Now" button at the bottom of the screen.

Carracres West is located in West Pensacola. It is not within the Pensacola city limits. Carracres West is accessible from Fairfield Drive, just north of Lillian Highway. Carracres West is convenient to the Perdido Key Florida beaches and local Pensacola military bases Pensacola Naval Air Station, Saufley Field, and Corry Field. Many other popular Pensacola destinations are under 30 minutes from Carracres West.

Information on travel times provided below will depend on traffic and time of day.

Approximate travel times to popular Pensacola destinations:

Downtown Pensacola: 20 Minutes
Cordova Mall / Pensacola Airport / Pensacola Junior College: 20 minutes
Interstate 10: 15 Minutes
Pensacola Beach : 30-35 minutes
Perdido Key Florida: 20 minutes
University Of West Florida: 30-35 minutes
Pensacola Naval Air Station (NAS) (Home of the Blue Angels): 15 minutes
Saufley Field Naval Base: 10 minutes
Corry Field Naval Base: 10 minutes

For more on Carracres West, read the rest of the article on Pensacola Real Estate News

Make Sure Your Home Warranty Protects You

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Fri, 25 Jul 2008 21:37:51 -0500

Original Post On Pensacola Real Estate News

When buying or selling real estate, home warranty plans are often included as an incentive from the seller to the buyer, or sometimes as a negotiation tool. I recommend all of my home buyers get a home warranty, even if the seller is not offering a home warranty and the buyer has to pay for it. In this buyer's real estate market, motivated sellers should offer a home warranty.

However, this article is not about getting a home warranty. This article is about how to protect your investment in a home warranty once you have it. Remember, the home warranty provider does not make money by fixing your problems. The home warranty provider wants to find a way to get out of fixing your problems, and thus keeping their money. Please take this advice to heart. It could save you a lot of frustration and money.

This article is based on an experience of a buyer who was my client. The behaviors described in this article may not be true for all home warranty companies. But the advice given is important, no matter who issues your home warranty.

TYPICAL SCENARIO

Let's say that you purchased a home, along with a home warranty plan. You are feeling good knowing that if you have problems with warranted items, you pay a small service fee and the home warranty company will cover the rest. You had your home inspected prior to closing and the inspector told you that everything was in working condition.

Let's say that you close on your home in July, a very hot time of year in Pensacola. Why would you think of running your heater in July?

Now November comes, and a blast of cold air comes down from the north. It is time to get some heat on. But to your dismay, the heater does not seem to be blowing any hot air. After checking what little you actually know how to check, and getting advice from your friends who don't know any more about heating and A/C units than you do, you decide it is time to call the warranty company.

Important: Don't bother calling your real estate agent. He or she likely knows very little about heating systems, and that is why he or she recommended you get a home warranty.

MAKING THE CALL - BE ON YOUR GUARD

You dig up your paperwork from the real estate closing, and give the warranty company a call. A very sweet customer service representative from the warranty company answers. She talks to you like a friend, sharing how terrible she feels that you may have to endure a few cold nights in your home while you wait for service. After several minutes of basic question and answer conversation, you are feeling very good about the whole situation. This warranty company really cares about you. You can just hear it in her voice. She is like a genuine friend.

And then the warranty company representative asks if you have tried the heater since you moved in to your new home. Your guard is down, you are at ease with your friend on the other end of the phone, and you answer "Well, no. We bought the home in July and it was very hot. But we had a home inspection and the inspector ensured us that the heater worked when the home was inspected".

Then the warm and friendly answer on the other end comes. "We're sorry, but since you have told us that you did not know if your heater worked when you purchased the home, we are not obligated to cover it under your warranty plan. You did not actually own the home when the inspector tested the heating system".

OUCH!!! Even though the weather has gotten cold, you are now feeling pretty hot. But don't lose your cool, as you can be sure the call is being recorded "to ensure quality service".

Don't let this happen to you. When you move into your new home, test every item that is covered under the home warranty. If it is the middle of winter, test your air conditioning. If it is the middle of summer, test your heater. Test all of the burners on your stove, even if you never cook. Test all the features of your oven and your dishwasher. If the seller left you a freezer in the garage that you really don't need right now, test it anyway.

Now if you have a problem in the future, you can call your home warranty company and say "YES, I know it worked when I moved in because I used it". It is as simple as that. You keep your warranty in force.

BUT what if you move in and test your heater, or your stove, or your A/C, and find that it doesn't work? You have no way of proving that it worked at the time you purchased your home warranty, which was at the closing table. What are you going to tell the warranty company when they ask you if you have tried it since you moved in and verified that it worked? I just wrote this article to explain how to protect your home warranty, not to answer moral dilemmas. Hopefully you will never have to decide how you would answer your friendly home warranty operator in this situation.

Pensacola Real Estate News Weekly Market Report for Week Ending July 5, 2008

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Thu, 17 Jul 2008 20:32:36 -0500

Brought to you by Pensacola Real Estate News

Pensacola Real Estate Market Data
Weekly Update For Residential Listings
In Escambia and Santa Rosa Counties

Welcome to the weekly Pensacola real estate market report. This one covers the week of June 29-July 5.

We saw a big jump in sales at the end of May. The jump in home sales at the end of June actually surpassed that of May, which is great news. The table doesn't show it because the table is on a Sunday-Saturday week. However, from June 24-June 30 the total home sales reached 178.

Days On Market (DOM) is up a little, but that is attributed to several high end homes selling that had been on the market for 500 to 900 days. If we take out these oddball sales, average DOM for Pensacola homes sold during that week comes to 155 days.

I have done quite a bit of home searching for clients this past few weeks and it seems like every other home I came across is a short sale.

If you want to know more about short sales, check out my article on Pensacola Real Estate Short Sales - Is It Worth It for more information on why short sales are so frustrating for both the real estate agent and the buyer.

Stop the Credit Card Offers and Protect Your Credit Score

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Thu, 17 Jul 2008 20:28:41 -0500

From Pensacola Real Estate News

One of the most important assets you have is a good credit score. It becomes even more important if you plan on purchasing real estate in the near future, whether it be investment property or a new home for yourself. Anything you can do to protect and improve your credit score is important.

If you are like me, you receive several "pre-approved status" credit card offers monthly, along with the guaranteed rate insurance quotes. Did you know that these companies check your credit before sending you these offers? Did you know that these credit checks affect your credit score? Granted, the affect is small, maybe 3-5 points for every inquiry, but every point can count when it comes to getting approved for a loan to purchase real estate.

You can stop these unwanted inquiries into your credit, and save time and paper by stopping the junk mail. At the bottom of every credit card offer should be a little box with an Opt-Out notice. It used to be in tiny print, but now it should be very readable.

There's nothing new about consumer rights to notice and opt-out for prescreened credit and insurance offers. For years, consumers have received such offers with required notices and opt-out telephone numbers buried in fine print along with other mandatory legal notices. The result: Consumers seldom saw these notices and relatively few called the required opt-out number. Now the credit card and insurance companies are required to make this notice big and bold. The notice says

"You can choose to stop receiving "prescreened" offers of credit from this and other companies by calling toll-free 1-888-567-8688. See PRESCREEN & OPT-OUT NOTICE on other side for more information about prescreened offers."

You can call, or you can Opt-out at this website: https://www.optoutprescreen.com/

Opting out will also stop the annoying phone calls that you will be flooded with if you apply for a new mortgage or apply to refinance your existing home. Read more in my article Stop The Credit Bureaus From Selling Your Private Information

Related Articles on Pensacola Real Estate News

What Is A FICO Score?

The New Credit Scoring System - How Will It Affect Your Credit Score?

How Not To Lose Your Home Loan After You Are Already Approved

Click on Pensacola Real Estate News for a list of articles indexed by category.

Pensacola Subdivision Report On Southbay

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Thu, 17 Jul 2008 20:26:34 -0500

To view the complete original post, visit Pensacola Real Estate News

This article provides a Pensacola real estate market report on the Southbay subdivision. If you are interested in seeing any homes in the Southbay subdivision, or any other homes for sale in Pensacola Florida, please feel free to 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 Southbay, follow these simple steps:

Click on Search for Homes.

On the Property Search screen, click on the "More Search Options" button.

Then type Southbay into the "Subdivision" category and click the "Search Now" button at the bottom of the screen.

Southbay is located in Southwest Pensacola. It is not within the Pensacola city limits. Southbay is accessible from Blue Angel Parkway, just north of U.S. Hwy 98. Southbay's location is convenient to the Perdido Key Florida beaches and local Pensacola military bases Pensacola Naval Air Station, Saufley Field, and Corry Field. Many other popular Pensacola destinations are under 30 minutes from Southbay.

Information on travel times provided below will depend on traffic and time of day.

Approximate travel times to popular Pensacola destinations:

Downtown Pensacola: 20 Minutes
Cordova Mall / Pensacola Airport / Pensacola Junior College: 25 minutes
Interstate 10: 15 Minutes
Pensacola Beach : 35-40 minutes
Perdido Key Florida: 15-20 minutes
University Of West Florida: 35-40 minutes
Pensacola Naval Air Station (NAS) (Home of the Blue Angels): Under 15 minutes
Saufley Field Naval Base: 10 minutes
Corry Field Naval Base: 10 minutes

Escambia County School Districts for Southbay Subdivision:
Elementary: Blue Angel
Middle: Bailey
High: Escambia

Homes in Southbay generally fall into the following ranges:

Age of Homes: Built between 1994 and 2000
Construction: Mostly all brick contemporary style
Square Footage: 1500 - 2300
Bedrooms: 3 to 4
Bathrooms: 2 to 3
Garages: Mostly 2 Car
Lot Sizes: .15 - .30 acre
Waterfront? There is a fishing pond in the subdivision for residents to use
Swimming Pools: Of the Southbay homes currently listed for sale in the Pensacola MLS, 1 had a swimming pool.
Foreclosures: Of the homes currently listed for sale in the Pensacola MLS, none are foreclosure properties.
Home Owners Association. Yes. HOA dues are $100 per year, based on MLS info.

Pensacola Subdivision Report On Zachary Estates

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Tue, 15 Jul 2008 21:04:00 -0500

For the complete article, visit Pensacola Real Estate News.

This article provides a Pensacola real estate market report on the Zachary Estates subdivision. If you are interested in seeing any homes in the Zachary Estates subdivision, or any other homes for sale in Pensacola Florida, please feel free to 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 Zachary Estates, follow these simple steps:

Click on Search for Homes.

On the Property Search screen, click on the "More Search Options" button.

Then type Zachary Estates into the "Subdivision" category and click the "Search Now" button at the bottom of the screen.

Zachary Estates is located in West Pensacola. It is not within the Pensacola city limits. Zachary Estates is accessible from Bellview Road just east of Blue Angel Parkway and west of Mobile Highway.

Most popular Pensacola destinations are under 30 minutes from Zachary Estates.

Information on travel times provided below will depend on traffic and time of day.

Approximate travel times to popular Pensacola destinations:

Downtown Pensacola: 20-25 Minutes
Cordova Mall / Pensacola Airport / Pensacola Junior College: 20-25 minutes
Interstate 10: 5-10 Minutes
Pensacola Beach : 30-35 minutes
Perdido Key Florida: 25 minutes
University of West Florida: 25 minutes
Pensacola Naval Air Station (NAS) (Home of the Blue Angels): 20-25 minutes
Saufley Field Naval Base: 5 minutes
Corry Field Naval Base: 15 minutes

Go to Pensacola Real Estate News for the rest of this subdivision report.

Direct Buy In Pensacola

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Tue, 15 Jul 2008 21:00:24 -0500

Link To Original Article On Pensacola Real Estate News

I had never actually heard of DirectBuy, most likely because I don't watch much television. But at the Pensacola real estate investors meeting last week, someone mentioned that a DirectBuy store had opened in Pensacola. It is on Navy Blvd, next to the Goofy Golf. This is just about a block east of Old Corry Field road.

If you want to know more about DirectBuy, just search for it on Google. They claim to provide you super savings on all sorts of home products, such as furniture, appliances, cabinets, and almost anything you need for your home. A nice lady on the web site tells you all about how you are being charged far too much money for standard household products and how DirectBuy can save you big money on almost anything for your home.

Once you've checked out the DirectBuy website infomercial, Google DirectBuy again and look down a few links to the Infomercial Scams link. I can save you the time. Here it is.

http://www.infomercialscams.com/scams/direct_buy_scams

Read up on some experiences people have posted on this site. Then make your own decision on whether or not you want to save money using DirectBuy. I personally do not like high pressure sales situations. That is one reason I like real estate. I offer guidance and support for people buying and selling homes, which helps to build real lasting relationships with clients. I could never be a high pressure sales person.

Being a neutral party who has no experience whatsoever with DirectBuy, I also recommend reading the defenses part of the web page, where DirectBuy members talk about their good experiences with DirectBuy. Follow the link below:

http://www.infomercialscams.com/defenses/direct_buy_scams

And go here for a Consumer Reports article on DirectBuy:

http://blogs.consumerreports.org/home/2007/09/with-directbu-1.html

As one commenter on the above linked blog wrote, "If your household income is less than $100-150K depending on where in the country you are, I'd recommend you don't do it, as your expendable income isn't going to allow you to spend the amount of money they you're likely to want to recoup. " Hmmm? How many people in Pensacola make over $150K per year?

As for the fees DirectBuy charges for the privilege of being a member? Their website won't tell you how much it cost to become a member. You will have to go to a sales presentation. The scams website will give you a rough idea of the cost. I think I'll take my money and invest in Pensacola real estate. The market is low and there are plenty of good deals available. I recommend holding your money for a down payment on a home, rather than spending it on a shopping club. But that is just me. I'm not big into shopping.

I hope this article will help you save some of your hard earned money. If you do choose to go for a DirectBuy presentation, let me know how it goes. I would love to hear about how the local Pensacola operation is run.

Click on Pensacola Real Estate News for a list of articles indexed by category.

Pensacola Real Estate News Report On Springfield Subdivision

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Tue, 15 Jul 2008 20:56:59 -0500

To read the full article, visit Pensacola Real Estate News

This article provides a Pensacola real estate market report on the Springfield Meadows subdivision. Note that this subdivision is also refered to simply as Springfield, so I will refer to it this way through the rest of this article. What it is called seems to depend upon the entrance that you take into the subdivision.

Springfield has a mix of homes. There are smaller vinyl-sided patio homes, and other homes that have brick front and vinyl sides and rears, and a few all brick homes. It just depends on what area of Springfield you are in. Flintlock and Glenway tend to have the vinyl sided patio homes, while the brick homes tend to be on Brownfield.

If you are interested in seeing any homes in the Springfield subdivision, or any other homes for sale in Pensacola Florida, please feel free to 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 Springfield, follow these simple steps:

Click on Search for Homes.

On the Property Search screen, click on the "More Search Options" button.

Then type Springfield into the "Subdivision" category and click the "Search Now" button at the bottom of the screen.

Springfield is located in West Pensacola. It is not within the Pensacola city limits. Springfield is accessible from Blue Angel Parkway just west of Mobile Highway.

Most popular Pensacola destinations are under 30 minutes from Springfield.

Information on travel times provided below will depend on traffic and time of day.

Approximate travel times to popular Pensacola destinations:

Downtown Pensacola: 20-25 Minutes
Cordova Mall / Pensacola Regional Airport / Pensacola Junior College: 20-25 minutes
Interstate 10: 5 Minutes
Pensacola Beach : 35-40 minutes
Perdido Key Florida: 25 minutes
University of West Florida: 20-25 minutes
Pensacola Naval Air Station (NAS) (Home of the Blue Angels): 20-25 minutes
Saufley Field Naval Base: 5 minutes
Corry Field Naval Base: 15 minutes

Escambia County School Districts for Springfield Subdivision:
Elementary: Beulah
Middle: Bellview
High: Pine Forest

Homes in Springfield generally fall into the following ranges:

Age of Homes: Built between 1997 and 2006
Construction: Contemporary style, vinyl, brick front, and all brick
Square Footage: 864-2200
Bedrooms: 2 to 4
Bathrooms: 1 to 2
Garages: From driveway only to 2 car garages
Lot Sizes: .06-.40 acres
Waterfront? None
Swimming Pools: Of the Springfield homes currently listed for sale in the Pensacola MLS, none had a swimming pool.
Foreclosures: Of the homes currently listed for sale in the Pensacola MLS, none are foreclosure properties.
Home Owners Association. Yes. HOA fees are $156 per year according to listings in the Pensacola MLS.

Go to Pensacola Real Estate News for the rest of this article.

Pensacola Real Estate News Subdivision Report: Avondale

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Mon, 14 Jul 2008 11:54:21 -0500

See the full article at Pensacola Real Estate News

This article provides a Pensacola real estate market report on the Avondale subdivision. If you are interested in seeing any homes in the Avondale subdivision, or any other homes for sale in Pensacola Florida, please 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 Avondale, click on Search for Homes.

On the Property Search screen, click on the "More Search Options" button.

Then type Avondale into the "Subdivision" category and click the "Search Now" button at the bottom of the screen.

Avondale is located in West Pensacola . It is not within the Pensacola city limits.

Avondale is accessible from Cerney Road or Saufley Field Road.

Avondale is convenient to the Perdido Key Florida beaches and local Pensacola military bases Pensacola Naval Air Station, Saufley Field, and Corry Field. Many other popular Pensacola destinations are under 30 minutes from Avondale. Several grocery stores and a Walmart are within 5-10 minutes of Avondale.

Information on travel times provided below will depend on traffic and time of day.

Approximate travel times to popular Pensacola destinations:

Downtown Pensacola: 20 Minutes
Cordova Mall / Pensacola Regional Airport/ Pensacola Junior College: 20 minutes
Interstate 10: 10-15 Minutes
Pensacola Beach : 30-35 minutes
Perdido Key Florida: 20 minutes
University Of West Florida: 30 minutes
Pensacola Naval Air Station (NAS) (Home of the Blue Angels): 15 minutes
Saufley Field Naval Base: 5 minutes
Corry Field Naval Base: 10-15 minutes

To read the rest of this article, visit Pensacola Real Estate News

Pensacola Real Estate Market Report By Area: January-June 2008

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Mon, 14 Jul 2008 11:50:49 -0500

Pensacola Real Estate News

Here is the first of its kind (for me anyway) Pensacola real estate market report broken down by area. The areas are based on the Pensacola Multiple Listing Service (MLS) areas, which is the only way I can break it down and provide you with meaningful real estate market statistics.

Why would this table be useful to you as a real estate buyer or seller?

I can think of several reasons.

Sellers:

The number of active listings gives you a number to gauge the competition in your area. Use this in conjunction with the "Listed To Sold Ratio" number. The lower the percentage, the harder it will be to sell your home in the given area.

The Days On Market (DOM) will give home sellers an idea of the average time it takes in their area to sell a home. If you price your home to sell, you can come in way under that average.

Buyers:

The number of active listings gives you an idea of the inventory of homes on the real estate market in that area. A higher number of homes for sale will mean you have more to choose from.

The average price and average price per square foot gives a good indication of the prices of homes in the given area.

Now lets look at the winners and losers in our market survey, based on homes sold vs homes on the market.

WINNERS:

Milton Florida scores a big #1 for the most the most homes sold in the first half of 2008. Coming in at a close second is Southwest Pensacola. This is no big surprise as these are 2 areas closest to our largest military bases, Whiting Field and Pensacola NAS.

Northeast Pensacola also comes in a big winner with the lowest number of Days On Market (DOM), followed closely by Southeast Pensacola. In addition, Northeast Pensacola comes in 6th place as the area with lowest average home price and has a homes listed to sold ratio of 43%. So if you want to get a lot of home for your money, and hope for the quickest sale of your home, consider Northeast Pensacola to be a good bet.

Last Place WINNERS
(I hate the word losers, and how can you call the beaches losers. They are some of the most beautiful beachs in the world.)

Perdido Key is taking the worst beating, followed closely by Pensacola Beach. (Note that I am ignoring Jay and Molino/Century for the most part, as there is minimal interest in these areas.) When looking at the beaches, you can see that they have the lowest ratio of homes/condos sold to the homes/condos on the market, and they come in priced higher than any other areas in Escambia and Santa Rosa county. No big surprise there either. The beach is a great place to live if the weather cooperates, and you will pay a premium to live there.

Notes and Disclaimers:

Data in the table was taken from the Pensacola MLS and is deemed reliable, but not guaranteed.

The Active Listings Column shows homes on the market as of the end of June 2008. These numbers are for Residential homes and Condos in Escambia County and Santa Rosa County. They do not include vacant land, mobile homes or manufactured homes.

The Homes Sold and Average Prices are based on homes sold in the given area from January to June of 2008.

In the near future, if my motivation holds up, I will be posting detailed information on each of these Pensacola MLS areas. I hope to make this a great overall Pensacola real estate reference that will be useful to buyers and sellers in the Pensacola real estate market.

Pensacola Real Estate News Monthly Market Update for June 2008

Karl Burger - Pensacola Real Estate News (ERA Beach Ball Realty) — Mon, 14 Jul 2008 11:47:31 -0500

Pensacola Real Estate News

Pensacola Market Data For June 2008
Residential Properties in
Escambia and Santa Rosa Counties

The table shows the Pensacola real estate market data for the month of June 2008, as compared to previous months. Pensacola home sales have not quite reached the level they did in May, but they may get there yet as slower agents put their sold listings into the MLS.

It is hard to write much of an exciting report given the numbers in the table. Not much has really changed overall. We remain in a somewhat stagnant real estate market in the Pensacola Florida area. But many real estate agents have reported increased activity.

If you look back to September of 2007, the big change you will see is that we have over 500 fewer homes on the market now than we did back then. In my opinion this isn't the result of more homes being sold. It simply comes from sellers who overpriced their homes taking them off the market.

Keep checking back for my weekly and monthly updates to keep abreast of what is going on in this market.

And remember buyers, if you are waiting for the market to bottom out, it is likely the real estate market will be moving back up by the time you buy. Go find the good deals now.

- The table shows the monthly market data for Pensacola residential property.
- These numbers include only residential homes and condominiums in Escambia and Santa Rosa Counties that are listed in the Pensacola MLS.
- The numbers do not include vacant land or lots, mobile homes or manufactured homes.
- The numbers are generated using data from the Pensacola MLS and are deemed reliable but not guaranteed

Click on Pensacola Real Estate News for a list of articles indexed by category.

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Mobile Alabama Needs Real Estate

Pensacola Real Estate Beach Market Report For The First Half Of 2008

Pensacola Real Estate News Weekly Market Report for Week Ending July 19, 2008

Buy Now Or Pay More Later - Pensacola Real Estate Mortgage Rates Are Rising

Declining Real Estate Market Policy Scrapped by Fannie Mae

FBI Shifting More Resources To Mortgage Fraud

How Home Sellers Can Protect Themselves From Liability For Unpermitted Improvements

Pensacola Real Estate News Subdivision Report: Lake Charlene

Just Because You Are Not In A Flood Zone Doesn't Mean You Don't Need Flood Insurance

Mortgage Fraud on the Rise

Related Articles on Pensacola Real Estate News Did Speculators Accelerate the Florida Housing Downturn Click on Pensacola Real Estate News for a list of articles indexed by category.

Make Sure Your Home Warranty Is There When You Need It (Follow-up)

Pensacola Real Estate Market Report For Week Ending July 12, 2008

Think You're In Good Hands? Think Again

Pensacola Real Estate Report On Carracres West Subdivision

Make Sure Your Home Warranty Protects You

Pensacola Real Estate News Weekly Market Report for Week Ending July 5, 2008

Stop the Credit Card Offers and Protect Your Credit Score

Pensacola Subdivision Report On Southbay

Pensacola Subdivision Report On Zachary Estates

Direct Buy In Pensacola

Pensacola Real Estate News Report On Springfield Subdivision

Pensacola Real Estate News Subdivision Report: Avondale

Pensacola Real Estate Market Report By Area: January-June 2008

Pensacola Real Estate News Monthly Market Update for June 2008

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