Pensacola Properties Overpriced

According to this survey Pensacola properties are 25% overpriced.
CNN Real Estate Some improvement seen, but many coastal cities are still far more costly than they should be.

FAIR HOUSING IS NOT AN OPTION - IT'S THE LAW!

The 38th Anniversary of the Fair Housing Act.

As the 2006 Chairperson of the Fair Housing / Equal Housing Opportunity Committee for the Pensacola Association of Realtors I wanted to take the opportunity to remind everyone that April is Fair Housing month. Everybody should know about Equal Opportunity in Housing. It is our duty as Realtors® to promote the American Dream and educate homebuyers on the steps that it takes to achieve their dreams. The purpose of the Fair Housing Committee is to inform customers and clients about their rights and responsibilities under the Fair Housing Act. We also strive to bring awareness to our fellow Realtors®

To learn more about Fair Housing and Equal Housing Opportunity go to The US Department of Housing and Urban Development

Pensacola Association of REALTORS®

Monthly Statistics.

The PAR office posted the monthly statistics with regard to sales:

March 2006
# For Sale : 5651
Sales For March: 488
Average Sold Price: $207,761
Average Days on Mkt: 94

COMPARED TO LAST YEAR:

March 2005
# For Sale: 1487
Sales: 649
Average Sold Price: $181,849
Average Days on Mkt: 74

Over 4000 more listings for sale in March 2006.
Less sales occuring this month compared to March 2005.
Listings on the market longer.
Sales prices are up though.

It's a BUYERS' Market: The supply of available properties exceeds the demand.

New Gulf Breeze Gas Station Not Ruled Out Yet

The new Gulf Breeze gas station at the entrance to the Paradise Bay subdivision goes bankrupt before completion. So don't get excited folks about the new Golden Rule BBQ and Grill because it aint coming just yet! Just when we needed a really good restaurant in Tiger Point!!! Read the story here in the Gulf Breeze News

The Gulf Breeze Story

City Of Gulf Breeze
Gulf Breeze, Florida is a waterfront community of 6,189 that prides itself on its fine small town character, quality education, excellent local government and a multitudes of waterfront activities.

Rules for Buying, Selling in Uncertain Markets

There's no way to predict with accuracy whether home prices will rise or fall in over the next year. But there are some general rules you can follow to make sure that your housing decisions are smart ones. BusinessWeek magazine analyzed the behavior of buyers and sellers in the current housing market and recommends a few ways to traverse the rapids.

• Before buying or selling, assess what houses are really worth in the area.
  
• Don’t be foolishly loss averse. Some people who bought high and are seeking to avoid selling low gamble recklessly that the market will rebound and bail them out, but dallying often worsens the problem. The solution: Cut your asking price and make the sale.
  
• It's human nature to think you know what you're doing. Reality, however, is often unkind. Whether you're a buyer or a seller, make a plan that accounts for worst-case scenarios.
  
• Sellers' thinking tends to be six months behind the market. So when prices are rising, they set theirs too low, and when prices are falling, they set theirs too high. So assess where the market is headed, not where it was.

Source: BusinessWeek, (04/10/06)

Northwest Florida Daily News
I had to publish this photo of Navarre Beach. AWESOME!
"Negotiations to have Navarre Beach State Park donated back to Santa Rosa County continue, with the main sticking point being who will pay for the hurricane repairs."

10 Mistakes To Avoid In Real Estate

This is a good one for all buyers and sellers. From a great website www.bankrate.com
10 Mistakes to Avoid in Real Estate in 2006 Learn from other people mistakes and learn from your own experiences. Read up on what is happening in todays markets and understand how it all works.

Quotes:

• realize the true value of a house is what someone is willing to pay for it.
  
• For the most part, real estate bubbles don't pop, they just slowly deflate....
  
• Skipping the loan preapproval step! For buyers, getting preapproved for a mortgage gives you a clear idea of how much you can safely borrow........No sense in wasting time on time-wasters." PLEASE find out how much you can afford before you go out shopping for a home. Please don't be offended when I refuse to drive you around all day just because you want to look.

Briarwood Condos in Pensacola

Here's a newly renovated condo complex in Pensacola, just off East Olive Road. West of Davis Hwy. All units have been stripped and redecorated. New appliances, new AC and heating, new kitchen & bathroom cabinets, new carpets, new ceiling fans. NEW NEW NEW. Luxury...yet affordable.

Prices run from $96,900 for a 1 bed unit, to $123,900 for a 2 bed and $136,900 for a 3 bed unit. The facilities include a pool, clubhouse, tennis court, fitness center etc.

Minutes from the malls, hospitals, airport and the interstate.

Read Demand Makes Affordable Housing Hard To Find

Open House Daily

Location, Location, Location

Price, Price, Price!

A seller who wants to position their property in the most effective price window values it just above recent sales and just below other competing properties in the neighborhood. A home priced correctly should expect a reasonably quick sale at the best price. The Pensacola Association of Realtors stated that homes in January and February were on the market approximately 89-93 days, that's 3 months guys!! Homes on the market for 6 or more months must therefore, be overpriced?! Property values rise as demand increases. However, property values fall as supply increases. Like right now. It's a buyers market right now. So don't be put off by inflated prices, just come and make an offer. In this area all reasonable offers are considered.