Thursday, March 02, 2006

Say Goodbye To Blue Roofs - Paradise Is For Sale

Since Hurricane Ivan and Dennis struck the coast of Northwest Florida in 2004 and 2005 residents have had a long hard struggle to rebuild their homes and their lives. All along the Gulf Coast of Florida homes were destroyed and lives devastated. And that’s not to mention the damage that Hurricane Katrina and Rita did to Texas, Louisiana, Mississippi and Alabama: But that’s another story. Here in Florida many homeowners have had to wait a long time to even start rebuilding due to insurance companies taking so long to assess the damage and agree on compensation. Some are still waiting! But residents have more or less said goodbye to the FEMA blue roofs that we became so familiar with, and are finally saying hello to new construction and a brand new look to their coastal communities. Some residents were forced to tear down their homes, which were too damaged for repairs to be even considered. The only option was to rebuild and start from scratch or sell the lot and move off the beach. So now many vacant lots right on the water are available and ready for new buyers to come and build brand new homes. Once called Florida’s best-kept secret, Pensacola is making headlines and finally the “cat’s out of the bag”. Hurricanes or no hurricanes, people are buying up whatever is available so that they can have a little piece of paradise. Waterfront property is now in big demand all along the Gulf Coast. Since September of 2004 house prices shot up anywhere from 15% to 30%. At first prices increased approximately 3% month but now in 2006 prices are actually coming down. Is the bubble bursting? (Google that because there are conficting reports as to where it is or isn't bursting. I will keep you posted) The market is now flooded (for want of a better word) with homes fixed up and back on the market and vacant land ready for new construction. It’s a BUYERS MARKET! Buyers have tons of choices. According to the Florida Association of Realtors® (FAR), favorable mortgage rates, a growing economy and an improving job market boosted Florida's housing market to a strong start in 2005 with a 10 percent increase in single-family existing home sales in January. The Pensacola Association of Realtors reported that listings were on the market for approx. 70 days. However, right after Hurricane Ivan if a house was priced right then they were snapped up within days - often within hours. Many residents put their homes up for sale and were shocked to get offers and be signing contracts before lunchtime. Buyers were also shocked that when they saw the perfect home that they were pushed into making quick snap decisions. Sellers had multiple contracts to consider. Buyers didn’t have the luxury of going home to talk to the family and sleep on it. You saw it, you liked it, and you bought it!

It is now March 2006 and we are fast approaching another busy summer season. So why do people want to live here so close to the Gulf? Is it the sparkling emerald green water, or the smooth white sand that crunches and squeaks as you walk on it? People are mesmerized by its allure and are transfixed by its awesome beauty. So for those people thinking about a dream home close to the beach, don’t wait too long. It is time to invest in paradise. For snowbirds looking for a retirement home, military personnel relocating, or out of state workers settling here due to booming job prospects, you deserve a piece of paradise too. Prices may have gone up but they are also leveling off. Some over-priced homes are finally coming down too. Come make an offer. Come visit and see the reconstruction and the rebuilding of our area. No hurricane can stop that. We are coming back with full force!

At http://www.meganfunke.com/ visitors can get access to the Pensacola / Gulf Breeze MLS to search for available properties for sale. My website offers a variety of helpful tools including mortgage calculators, reports for buyers and sellers, links to local services, and a very helpful home notification service. By linking to the local Multiple Listing Service (MLS) you can quickly view a large database of available homes, condos and vacant lots for sale throughout the Gulf Coast and even personalize your search to fit your specific needs.

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