Posted by: robinsherman | September 29, 2008

Great News for Pensacola Job Seekers!

A recent study by the privately funded Milken Institute finds Pensacola trails only Orlando and Ocala for job creation in the state of Florida.

Pensacola Sees Job Growth

Pensacola Sees Job Growth

While this is GREAT news for an area which, like much of the country, has seen better economic times, the news gets even better when you look at Pensacola’s ranking in comparison to other cities nationwide. The Milken Institute’s study found that Pensacola’s five years of steady job growth placed it as number 29 in the nation. When you consider that nearby Mobile ranked only 125th and economic powerhouse Atlanta was 59th in terms of job growth, Pensacola’s 29th place ranking is stellar!

So what drives this growth? A number of things, including our fast growing small business high tech sector, affordable housing and quality of life issues and the Pensacola Bay Area Chamber of Commerce’s innovative economic development efforts.

Looking for a great place to live with job growth potential. Look no farther than Northwest Florida’s Emerald Coast capital; Pensacola.

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Posted by: robinsherman | September 22, 2008

Pensacola Beach Plans Upgrades

Pensacola Beach Core Area Proposed Improvements

Pensacola Beach Core Area Proposed Improvements

Pensacola Beach’s core business area could soon be getting a facelift if the Santa Rosa Island Authority’s plan goes forward. On Wednesday evening the Island Authority will hold a meeting to discuss the various possibilities which may include over 2,000 new parking spaces, a walkover bridge for Via DeLuna, a new Visitor’s Center and Island Authority offices and over 240,000 square feet of retail space.

The Santa Rosa Island Authority staff should have rough figures of construction cost estimates for the improvements and revenue estimates from potential retail sales taxes from the project to present at the Wednesday evening meeting.

The meeting will be held at 5pm Wedensday at the Island Authority offices on Via DeLuna on Pensacola Beach.

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Posted by: robinsherman | August 18, 2008

Pensacola Bay Area Foreclosures - A How to Guide

Pensacola Area Foreclosures - Cheap or Costly?

Pensacola Area Foreclosures - Cheap or Costly?

We have just finished working with another Pensacola home buyer on a foreclosed property and - whew - what a whirlwind. Even though less that two percent of all U.S. mortgages are in default the realty reality is that we are seeing more foreclosures in Northwest Florida and with that we have more buyer clients looking for the opportunities that foreclosures can sometimes provide. So what’s the real scoop on foreclosures? Glad you asked . . .

The foreclosure we just closed took approximately three months from contract to close, as opposed to our normal thirty day close, and was accompanied by a lot of hand wringing on the part of our home buyer. While the buyer ultimately got a good price on her Pensacola real estate purchase we were fortunate that she was patient and didn’t need to move into the home right away. Additionally, she understood the risks in terms of purchasing “AS IS” real estate.

So here are some things to think about.

  1. A foreclosed property is owned by the lender or a consolidator for the lender and as such there are seldom if ever any real property disclosures. The lender never lived in this Pensacola area property so won’t vouch for whether or not the seemingly new looking roof was put on over an existing roof, whether the property was ever flooded, whether there was ever mold or toxic contamination . . . you get the picture. You are strictly buying “AS IS.” A thorough home inspection prior to making your offer is a MUST and it is a gamble you must be willing to take.
  2. Work closely with your real estate agent. What seems like a bargain might not really be such a sweet deal once you understand the overall value of the neighborhood and the timing of your Pensacola area purchase. Work with a professional who truly knows the market and can watch out for your interests.
  3. Make sure you are preapproved with your lender before venturing out to look at foreclosed properties. All foreclosures are going to require a preapproval when you submit the contract and there could be competition if the home is indeed in good condition and in a good neighborhood.
  4. Finally, don’t make an offer on a Pensacola area foreclosure until you have personally looked at every other home for sale in the same neighborhood. In addition to the “hassle factor” of purchasing a foreclosure you are often buying a home that has been neglected and perhaps the well cared for home in the same neighborhood isn’t really so much more expensive.

Feel free to call us with questions about foreclosures. We are happy to share our experience and hopefully help you along the way to owning the perfect Pensacola Bay Area home.

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Posted by: robinsherman | August 16, 2008

Taxing Situation - What’s Up with Taxes on Pensacola Beach

Complicated. That’s the best way to describe the situation relating to property taxes on Pensacola Beach. A book could be written - and one actually has (Deceit Beach, The True Story by William L. Post).

Pensacola Beach Leaseholders Fight Taxation

Pensacola Beach Leaseholders Fight Taxation

So here’s a very abreviated history of the entire taxing situation (sorry . . . couldn’t resist).  In 1947 the U.S Department of the Interior donated Santa Rosa Island to Escambia County. The land was leased - not sold - to the county through a deed. The county set about attracting developers, residents and businesses by promising ad valorem tax free leaseholds to those who would venture onto the beach; a place without much infrastructure. For many years ads were run routinely around the country promoting tax free beach lots with 99-year leases and no taxes.

In 2004, Escambia County Property Appraiser and County Tax Collector issued tax notices to beach leaseholders. Soon after, four major lawsuits in protest of property taxes levied on leaseholders were filed against the appraiser and tax collector. Plaintiffs include thousands of Santa Rosa Island residents along with beach businesses.

The 2004 tax assessment was the third time in 30 years that Escambia County has sought to impose real estate taxes on beach property. In each previous case litigation resulted in decisions in favor of island leaseholders and against the County’s attempt at taxation.

Read More…

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Posted by: robinsherman | August 11, 2008

Bike Northwest Florida - Year Round Fun

When I think of Florida’s beautiful Emerald Coast - Pensacola to Destin - the things that first come to mind

Blackwater Heritage Trail in Milton, FL

Blackwater Heritage Trail in Milton, FL

(After real estate of course!) are beaches, history and well . . . outdoor activities! Unlike south Florida, the Northwest corner of the state boasts real seasonal changes. We have delightfully cool spring and fall weather, balmy summers and a bit of chill in the winter. Absolutely perfect for bike riding!

My husband has recently gotten me out on some long bike rides and I’d like to share an interesting route we’ve come to love. The Blackwater Heritage State Trail is my favorite ride so far. This trail, which starts in downtown Milton in Santa Rosa County, winds it’s way seven miles through rural Northwest Florida. The trail is 12 feet wide and paved so perfect for road bikes or mountain bikes, although you’ll see all manner of human powered machines along the route. The trail is also great for walking, jogging, roller blading and - of course - taking the dog for a walk. You’ll find gentle grades, honeysuckle bushes lining the trail and wooden bridges crossing the streams.

If you want a longer ride you can enter Naval Air Station Whiting Field at the northern terminus of the trail. Whiting has well maintained roads and a sidewalk and trail system as well.

There are numerous places to enter the trail, including the Milton Visitor’s center. But an easy way to get started is to start at the beginning - the trailhead in downtown Milton includes plenty of parking, a covered picnic area, restrooms, a water fountain and a bike rack. 

Milton Trailhead
From I-10 West (coming from Crestview), take Exit 31 (old Exit 10) to SR 87. Follow SR 87 to the intersection with US 90. Take a left (heading west) on US 90. Follow US 90 into Milton to the intersection where SR 87 heads north (to the right). Trailhead is located at this intersection.

From I-10 East (coming from Pensacola), take Exit 26 (old Exit 8) to SR 191. Follow SR 191 through Bagdad into Milton and turn left on US 90. Trailhead is located at the intersection of US 90 and SR 87.

Munson Highway Parking Area
Follow directions above to Milton. In Milton, proceed to intersection of US 98 and SR 191. Proceed north on SR 191 (Munson Highway) to intersection with trail and parking area.

Contact Information:
Blackwater Heritage State Trail
5533 Alabama Street
Milton, Florida 32564
(850) 983-5338
http://www.floridagreenwaysandtrails.com/

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Posted by: robinsherman | June 24, 2008

Definition of a Buyer’s Market . . . Pensacola Bay Area Style

Definition of a Buyer’s Market . . . Pensacola Bay Area Style . . .

A Pensacola Buyer's Market?What’s the definition of a “Buyer’s Market?,” I was asked just the other day. Like most things the answer isn’t simple or cut and dry. There are so many factors that determine whether any given real estate market is experiencing a buyer’s market or a seller’s, but a good quick and dirty rule of thumb is that when a local real estate market has more than six months of housing inventory actively listed on the market, it’s a buyer’s market.

This won’t be a surprise to many people, but the truth of the matter is that most of the local real estate markets throughout the nation are experiencing a buyer’s market. So what are the numbers in Pensacola?

For the month ending in May, the Pensacola Bay Area had a total of 15.44 months of housing inventory. Wow! But, what you may find surprising is that the housing inventory has been steadily decreasing since January, when the market topped out at a whopping 24.46 months or inventory . . . or two full years. We have also seen the average price creep up since January.

What does that mean to buyers and sellers? Since the numbers of sales occurring monthly are lower than last year, the numbers tell us that more people are taking their homes off the market. It also tells us that we may have actually “hit bottom,” that most elusive “lowest price” that all investors search so diligently to find.

According to the annual “State of the Nation’s Housing” report issued today by the Joint Center for Housing Studies of Harvard University, a “mild downturn” is the concensus forecast of the majority of economists, and “the fundamentals of demand are likely to drive a strong rebound in housing once prices bottom out and the economy begins to recover.”

Put it all together . . . Pensacola Bay Area’s Buyer’s Market may be just the opportunity many real estate investors and individual home buyers have been waiting for!

 

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Posted by: robinsherman | June 17, 2008

Pensacola Beach Real Estate Market News

Emerald Condominiums Pensacola Beach, FLPensacola Beach Real Estate Market News . . . Life’s GREAT on Pensacola Beach! The sun’s out, the tourists are here, the restaurants are hopping, free concerts in the sand on Tuesday and Wednesday evenings . . . Wow, is there a lot to do!

But back to the Real Estate Market Report. Here are the numbers:

 

Time Period

Year

Total # of Sales

Average Price

% Diff. Sell/List

Days on the Market

Jan - May

2007

45

$594,341

92.62

173.8

Jan - May

2008

69

$676,422

93.71

174.4

Figures are from the Pensacola Association of Realtors and include only properties which were listed in the Multiple Listing Service.

I’ve tried to keep this Real Estate Market Report short and sweet, BUT they always require some “back story” interpretation. As you can see there have been 69 sales during the first five months of this year as compared to 45 during the same period in ‘07. Before you start getting the idea that the market is really picking up, you should note that the new Pensacola Beach Beach Club condominium which was sold in pre-construction in ‘04 and ‘05, began closing last year and closings carried over into this year, so some of these numbers are attributable to contracts that were actually written several years ago.

The same goes for the price bump you see between ‘07 and ‘08. A couple of the Penthouse units at Beach Club sold for over $2,000,000, skewing the average sold numbers somewhat, as did several other high end sales.

As far as the sale of Pensacola Beach homes (vs. condos), in 2007, there were six homes sold in the first five months for prices ranging from $390,000 to $1,900,000. In 2008, there were seven Pensacola Beach homes sold ranging from $265,000 to $1,217,500.

Clearly Pensacola Beach is a real condo area. So, what’s happening with condo sales? If we look at individual buildings we see that the prices are no longer in free fall. The popular Gulf front condominium, Emerald Isle, has seen prices stabilize and now start to climb a bit.

What’s the future hold? Well, if the past is any indication, Pensacola Beach properties have historically appreciated well, and with the baby boomer retirement set to peak between 2012 and 2014, demand for the beach is expected to climb. While the “bottom” has been hit in many (if not all) buildings, there are still some bargains to be had.

For similar articles you might want to read: 

Emerald Dolphin condominium - Pensacola Beach Bargains!

 

 

 

 

 

 

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Posted by: robinsherman | June 14, 2008

Coldwell Banker United Goes to the Dogs

Pensacola Beach Take Your Dog to Work DayColdwell Banker United Goes to the Dogs Friday, June 20th - Guess who will be joining me in the office this Friday? That’s right dear readers, Mr. Beko will be an official Real Estate Assistant at my Pensacola Beach office for Take Your Dog to Work Day. That’s because I work for a truly progressive real estate company that knows a few things about the benefits of pets in the workplace.

So what are the Benefits of Pets in the Workplace you ask? Here are just a few collected from the American Humane Association:

  • Staff morale and worker productivity increases by bringing pets to work
  • There is increased camaraderie among employees
  • Employees are happier and their job performance is enhanced
  • An increase in sales is reported by store owners who take their pets to work
  • Dogs in the workplace serve as a crime deterrent

To read more from the American Humane Association follow this link:

Pets in the Workplace

More companies are realizing the benefits of pets in the workplace and allowing employees to have pets accompany them to the office. A recent Newsweek Article notes that over 17% of Americans say their company is Fido friendly. The Pet Product Manufacturer’s Association says that today one in five workplaces allow pets.

Take Your Dog to Work - Chaser in Gulf BreezeSo, are there problems with pets in the workplace? The Newsweek article goes on to note that as much as 5% of the population has dog allergies (and the number may be higher for cats), so it is important to check with co-workers before instituting a Pet-Friendly Policy. Some people are also afraid of large dogs or certain breeds, so large dogs or guard type dogs may not be appropriate for some settings.

Most of the time the benefits will far outweigh any drawbacks. Personally, I know I am willing to spend more hours in the office if I’m not having to think about my pets at home alone.

And what about Pet Friendly Realtors? Well, count me as one! Having moved with pets numerous times, including an overseas move with a dog and a cat, I know that there are special considerations for moving with these four legged family members. A good Realtor who understands pets and their important place in a family’s life will have pet related vendors and service providers (groomers, veterinarians, boarding kennels, etc.) on their list of referral partners.

Are you a dog owner in Pensacola? I am a member of the Pensacola Dog Owners Association (PDOA) and would encourage you to join. The group provides both educational opportunities and social opportunities for area dog owners. The PDOA sends out a regular e-mail newsletter and also hosts events - for members and their dogs and sometimes just for members. Click HERE to go to the PDOA web site.

Want to see how Mr. Beko handles the stressful job of real estate assistant? Come visit me at my Coldwell Banker United Realtors office on Pensacola Beach on Friday . . . but be sure to have a dog biscuit or two with you!

If I can provide more information about Pensacola and surrounding areas, or the housing market in general, or otherwise assist you in your home search, please contact me by phone at (850) 516-8185 or email me at Robin@PensacolaForYou.com

Information presented here contains the information and opinions gathered by Robin Sherman, MA, CRS, Broker and is accurate to the best of her knowledge

 

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Posted by: robinsherman | June 14, 2008

Downtown Pensacola Fiesta of Five Flags Parade

Downtown Pensacola Fiesta of Five Flags ParticipantsDowntown Pensacola Fiesta of Five Flags - What a GREAT time I had last night watching the Downtown Fiesta Parade from the Coldwell Banker United headquarters. The downtown streets, particularly Palafox Street which is the center of the parade route, were lined with Pensacolians and tourists eager to get a glimpse of the colorful floats and costumed riders, as well as catch some candy and beads. Ice cream sandwiches were even thrown this year!

Just what is the Fiesta of Five Flags? Back in the late 1940s (I’m not dating myself dear readers .  . . this really was BEFORE I was born), a group of city leaders decided we needed an annual summer festival to promote tourism. The Fiesta promotes the founding of Pensacola by the Spanish explorer Don Tristan DeLuna as well as Pensacola’s history under five flags; Spain, France, England, the Confederacy and the United States.  Today the festival has become a year round event which includes the Crawfish Festival in the Spring and the Seafood Festival in the Fall. For more information on the festival visit www.FiestaOfFiveFlags.org

 

 

 

 

 

 

Downtown Pensacola is a gorgeous place with a real eclectic mix of architectural styles and real estate offerings. You can see some of the New Orleans French inspired condos above shop fronts in my photos of the parade floats. Some of the downtown neighborhoods, like Aragon, boast new homes that are true to some of Pensacola’s historic home styles (like Italianate, Florida Vernacular, Victorian, etc.) while other neighborhoods, like East Hill and North Hill, are primarily made up of older homes.

 Just like the parade, the Pensacola real estate market is a moving target. Numbers for the six month period Dec. 13, 2007, to June 13, 2008 are included below:  

Listings

# of Listings

Avg. Sold or List

Days on Market

Sold

1,137

$147,359

135

Active

2,974

$232,364

190

 

Interested in Similar Articles on Pensacola?

Market Trends in the Pensacola Bay Area

 

Five Things to Love About Pensacola

 

Downtown Pensacola - Aragon Home and Wine Tour

If I can provide more information about Pensacola and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone at (850) 516-8185 or email me at Robin@PensacolaForYou.com

Information presented here contains the opinions of Robin Sherman, MA, CRS, Broker Associate.

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Posted by: robinsherman | June 9, 2008

Nothing to Sniff at . . . Pensacola Sewer Plant Moves On

Pensacola Bay Area Sewer Plant Set to MovePensacola Sewer Plant Moves On . . . All right, so this is NOT a subject to ahhh, sniff at . . . we all know the downtown Pensacola sewer smells just rotten. And with a new Community Maritime Park in the works just across the street everyone is on board with moving the plant north. So just what is going on with the move?

Glad you asked. Here’s a quick rundown:

The site for the new plant is being cleared. You can find the new site, if you are so inclined, near the Solutia plant off U.S. 29 in central Escambia.

The Escambia County Utility Authority (ECUA) is awarding contracts for work to be carried out in conjunction with the move and land for the 25 miles of new pipeline has been purchased.

Instead of disposing of treated wastewater into the Pensacola Bay, as is done at the current plant, the new plant will be a “zero discharge” facility. According to the ECUA in a Pensacola News Journal April news article, plans under consideration include disposing effluent into spray fields, infiltration basins or possible reuse by International Paper Co. 

As explained in the article, Gulf Power Co. will also take about 17 million gallons per day of treated effluent from the new plant and reuse it for generating electricity at its nearby coal-fired Crist Power Plant. Water that is not evaporated at Crist will be returned to the treatment plant.

So, keep your nose . . . I mean eyes open for the latest developments.

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