Property Points

Why Are You Always Smiling?

2011-04-28T09:24:00.001-07:00

Yesterday after a rather dry meeting around a conference room table at the Pensacola Bay Area Chamber of Commerce, the chairman of the committee spoke to me.

He said, "Why are you always smiling? You must know something nobody else does, 'cause you are always smiling."

My reply was "I am just a happy person. Thank you for saying that." He said, "No really, every time I see you you have a smile on your face."

That made me think of many years ago when as I walked to the unit where I worked, people would stop and ask me why I was smiling. It happened almost everyday.

In truth, the circumstances of life at the time were not "smile inducing", however at the very core I was a "happy" person, and it just showed up on my face.

There was a point when I realized that no one was asking me "why are you smiling?" It was kind of like when no one asks you where you get your hair done anymore -you know it's time for a change!

That is what I did back then - I made a change. Out of a career that was not keeping a smile on my face, and into a way of making a living that is part and parcel of my life.

As Confucius first, and then later Harvey McKay said "Find something you love to do, and you'll never work a day in your life."

So yesterday, I was reminded of that time, and realized what a fortunate person I really am. Years ago as I left for work on Perdido Key - selling real estate along the beach on Florida's Gulf Coast - it occurred to me that I was humming, and almost skipping to get to work. That is when I thought " I love what I do and it shows!" Which became my business slogan.

No truer words have ever been spoken.

The photo above is of my daughter and our puppy Katie nine years ago right here on Perdido Key, Florida. It became the first advertisement for my real estate brokerage company with the slogan "We love what we do and it shows!"

Mike in Paradise

2011-04-26T11:35:00.000-07:00

Over the course of the last week a listing client of mine has moved his 30-something son, Mike to the area to oversee a construction project.

Mike, who works with the family business is an energetic, confident and obviously adventurous sort. His respect and affection for his parents is evident, and they must be very proud of him. Apparently he enlisted in the Marine Corps straight out of high school and spent his four years in Japan and other far away places.

It was quite enjoyable to hear him share his "stories" with my husband, a Marine aviator of Vietnam vintage, and at the end of their exchange to hear the young fellow say "Semper Fi". Wow, what a brotherhood Marines share.

What is especially fun for me is to see how the everyday life of Perdido Key living is "taking hold" of Mike. He came prepared with fishing gear, his motorcycle, and his curiosity.

His recently acquired barbeque grill has been getting a workout while he enjoys the views across the intracoastal waterway to the north side of Perdido Key.

He says he has been tossing a line in the water on a regular basis, and catching fish right and left! Ah, the island life!

Since Mike likes to cook, I told him about Perdido Bay Seafood, right under the bridge near Publix. For extra adventure, I gave him directions to Joe Patti Seafood - what an eye opener that will be!

One day while picking up his mail at my office, Mike said, "you know after you are here for a while you realize everywhere you look there is water!" I told him my favorite sight is topping the Theo Baars' Bridge just before sunset. The intracoastal waterway looks like a river of fire glowing with the reflection of the sky. The gorgeous National Seashore - Johnson Beach stretches to the east and Perdido Key lies ahead to be explored.

I expect Mike will find it hard to go back to the center of Florida when his work is completed here. Perdido Key grows on you, and in you. Hopefully soon Mike will call this wonderful place "home". (pictured above is the view from Mike's digs, click on the photo for details)

Playing With Tigers in Gulf Shores, Alabama!

2010-12-22T16:39:00.000-08:00

Lovingly Referred to as "The Little Zoo that Could" The Alabama Gulf Coast Zoo is in a class all it's own!

On a recent crisp December afternoon several friends from Ideaworks of Pensacola, Florida joined Bill Stromquist of the Board of Directors, Davenport Properties, Inc. Broker Alison Davenport and her daughter Austin to meet many of the newest members of the zoo family.

Pictured here is Austin feeding a one year old "snowey" bingal tiger that was raised by head zookeeper Cindi Johnson.

The AGCZ is the only zoo in the country that is home to all four types of bingal tigers - the snowey, golden tabby, golden and white.

Ms. Johnson has raised many tigers over the course of her tenure. Some have gone on to other zoos, some have even become entertainers with Sigfried and Roy in Las Vegas, Nevada.

Currently she is raising Sita, a six week old white tiger who was her mother's first offspring and was rejected by her. Once she reaches a safe age, she will be transferred to a different facility. This is to protect the tigers from inbreeding that would undermine their health over time.

The Alabama Gulf Coast Zoo is located at 1204 Gulf Shores Parkway, Gulf Shores, Alabama and they can be reached at (251) 968-5732. When visiting the area, be it Gulf Shores, Orange Beach, Perdido Key or Pensacola, you owe it to yourself to make a trip to what Animal Planet calls "the little zoo that could". They even created a 13 part reality tv series about it!

"Substantial Growth" Predicted in Florida's Economy

2010-11-15T14:06:00.000-08:00

Michael Norton The News Service of Florida
Posted in part November 13, 2010

The pace of the recovery in the nation is moderating and the lift spurred by nearly $800 billion in federal stimulus spending is fading, but there are several promising signs that growth will continue, including in Florida, a leading national fiscal analyst told reporters Friday morning.

Moody’s Analytics economist Chris Lafakis said the Federal Reserve will remain aggressive, with a quantitative easing plan that he equated to “basically flooding the global monetary system.” Lafakis predicted the strategy would lift asset prices, reduce corporate borrowing costs, and increase the willingness of consumers to spend.

Lafakis predicted substantial growth in Florida’s economy, mentioning that areas are expected to recover “quite significantly” due to a rebound in population growth and a willingness of more people to travel to Florida for vacations. “The story of pent-up demand is true in no place more so than Florida,” he said.

Nationally, corporate balance sheets are strong and business profits have “fully recovered from the recession,” he said, adding that businesses are in the position to hire more employees, but their level of willingness varies.

“It’s truly the case that profit growth leads job growth,” Lafakis told state government reporters gathered for the annual conference of the Association of Capitol Reporters and Editors.

Household liabilities in the United States have fallen by $900 billion since peaking two years ago and a shift to spending and addressing pent-up demand for purchasing “creates a lot of economic juice,” Lafakis said.

Great Article from ProPublica

2010-09-22T13:57:00.000-07:00

Homeowner Tips for Getting Loan Modifications

by Srinivas RaoProPublica, Sep. 15, 11:48 a.m.

ProPublica asked a simple question of more than 700 homeowners dealing with the administration's mortgage modification program: Knowing what you know now, what tips would you give someone who's struggling with a mortgage payment? Their advice: Get help, stay organized, and don't give up.

In total, 718 homeowners, all of whom applied for a loan modification through the Home Affordable Modification Program, volunteered tips and tricks for struggling homeowners. While more than a third of respondents were skeptical about the value of program, the majority of respondents suggested simple steps homeowners should take to survive the process of applying for a modification. Culling through the hundreds of responses, three pieces of advice stood out.

Have you worked for a servicer in a loan modification call center? We want to hear from you.

Are you a homeowner who's struggling to pay your mortgage? Are you seeking a loan modification through the government program? We want to hear from you.

Don't do it alone. The most popular suggestion was a simple one: Don't be afraid to ask for help. One hundred thirty-five respondents advised struggling homeowners to hire lawyers, contact their elected representatives, alert the media and file complaints with a variety of government agencies; they also advised homeowners to rely on emotional support from friends, family and other homeowners in the same situation. As one California homeowner put it, "Find others to talk to, or you will go crazy."

One of the most recommended resources for struggling homeowners was the HOPE Hotline, at 1-888-995-HOPE. The Treasury Department-sponsored hotline, operated by the nonprofit Homeownership Preservation Foundation, helps connect callers with HUD-approved counselors who can provide struggling homeowners with information and support. Homeowners who suspect their servicer of making mistakes can escalate their case to a special HOPE Hotline team. The Hotline can also connect homeowners to local HUD-approved counselors; homeowners can access the list of counselors directly at HUD's website.

Stay organized. Research and organization were important themes among respondents, with 125 of them advising homeowners to take notes, to do online research, and to get everything in writing during their campaign to get a loan modification. For many respondents, the process of applying for a loan modification stretched across months, involving an ever-changing parade of customer representatives that 64 percent say gave them contradictory answers at times. Respondents recommended everything from pen and paper to certified mail, phone recorders and video cameras to keep track of the process. As one New Mexico homeowner explained, "document your journey thoroughly -- you will never be able to recall or communicate all the madness you will go through."

Just keep trying. Another 48 homeowners stressed the importance of making mortgage payments by any means possible. Despite what 52 percent of respondents say they were told by their servicer, homeowners do not have to be behind on a mortgage to be eligible for a HAMP modification. By making their monthly payments, however painful, struggling homeowners can prevent themselves from descending into a spiral of debt, and perhaps avoid the loan modification process altogether. As one Massachusetts homeowner put it, "Sell your furniture, car, dog and your soul to the devil to get your mortgage payment. The banks are liars, incompetent and not trustworthy."

Others offered optimism to those searching for loan modifications, asking struggling homeowners to not give up the fight. Ninety respondents told homeowners that they had to "be relentless," to "persevere" and to "just keep trying." Many who stuck with the program remarked that it eventually paid off, with one homeowner saving over $25,000 after treating the application process like "a part-time job." While most described the struggle as heroic, at least one respondent put her advice bluntly: "It sucks, but stick with it."

Still others gave homeowners common-sense advice, ranging from tips on how to getting a consistent story from your servicer (by building a relationship with one or two representatives you can reach directly) to how to improve your application's viability (by watching your spending and not using your ATM card for eating out). One Maryland homeowner spoke for a handful of respondents in stressing the importance of being polite. "Above all, don't be combative on the phone, or the entire conversation and time spent on hold will be for nothing."

But some respondents were less hopeful about the value of the program. 193 respondents advised homeowners to steer clear of the program altogether, describing it as "pointless," "humiliating," "hopeless" and "not worth the hassle." "Quit paying, save your money and find an apartment," said one Nevada homeowner, echoing a common theme of many of the more downtrodden responses. "They're going to get your house anyway they can."

To many of these homeowners, the loan mod program is at once deeply frustrating and their best shot at securing their home and financial future. They have spent months, sometimes years, navigating a bureaucratic maze set up by their servicers, all the while in the dark about the final the status of their loan modification.

For struggling homeowners looking to start the process of a loan modification, one Florida homeowner may have had the most practical advice of all: "Pray."

Real Ideas for Real Estate Salespeople Impacted By the BP Oil Spill

2010-09-16T13:33:00.000-07:00

Proposed Method for Calculating Income Losses
For Real Estate Agents, Brokers, Brokerages in Directly Impacted Locations

There exists irrefutable evidence that the BP oil spill disaster absolutely and directly impacted the ability of Real Estate agents, brokers and brokerages from selling properties along the gulf coast.

These agents, brokers and brokerages have historical data to prove that their incomes have been derived through sales activity on these impacted shores, yet they are to date denied the ability to receive appropriate compensation for their losses.

This is in direct conflict with the $93M advertising campaign that BP has funded stating that they will “make it right”, “make you whole”.

If these businesses are not appropriately and adequately assisted, they will perish. That will be as a result of inaction on the part of BP and now the Gulf Coast Claims Facility.

Please consider this approach to calculating lost income due to agents/brokers and brokerages:

• Compare 2008, 2009 and 2010 income.

• Determine what percentage of income is derived from real estate sales commissions.

• Establish what percentage of the real estate commissions are from property sales in DIRECTLY impacted areas.

• Use this factor to determine loss of income due to lost sales POSSIBILITY in the DIRECTLY impacted area.

If my income is 100% derived from real estate commission sales, and historically 50% of those sales were in the DI area, then it would stand to reason that 50% of the income that I would have made in 2010 would have also been derived from that area. That would mean that whatever my 2010 projected income should have been would be 50% attributable to real estate commission sales that I would have made on the DI area.

Shouldn’t I then be eligible to receive compensation for that loss based on the proportionate part of my income that is dependent on sales in that area?

Proximity, and Dependency on the Gulf – Check, Check.

42% of Perdido Key Listings Have Price Reductions!

2010-09-13T17:20:00.000-07:00

Saavy buyers are checking out gulf front and resort properties hoping to take advantage of the seasonal adjustments as the third quarter of the year approaches.

The current inventory of residential properties on Perdido Key stands at a moderate level of just 267 units. This includes single family, attached homes and condominiums, and is far from excessive.

Still between April and September a little more than 40% of sellers have reduced their prices.

Search available listings in Perdido Key, Pensacola and Pensacola Beach and see for yourself!

Interested in Orange Beach, Gulf Shores or Fort Morgan, Alabama? Search here for available properties.

No flyers in the flyer box - The Real Estate Sign Song

2010-08-12T09:20:00.000-07:00

Kenneth Feinberg Makes Another Visit to Pensacola

2010-08-10T14:25:00.000-07:00

Today Kenneth Feinberg - the "Pay Czar" spoke to a crowd of about 300 people about his Gulf Coast Claims Facility which will become active on August 23, 2010. The forum took place at University of West Florida and was hosted by UWF and Senator Bill Nelson, (D) of Florida.

Having had the privilege to speak with Mr. Feinberg on two separate occasions prior to this forum I believe he is the best possible administrator that those of us affected by the BP oil spill could hope for.

That said, he is not Santa Clause.

Claimants must be 1) Eligible - which he states will be judged based on proximity to the gulf, industry impact and how dependent the business is on natural resources.

He has made it clear that actual physical damage by the oil is not necessary to be eligible - perception can be enough in certain instances.

2) You have to prove your claim. This may be done with income tax returns, sales receipts, cancelled contracts or any number of other resources. Any claims that are paid will be followed with a 1099 and reported to the IRS.

Initially an "emergency" payment equivalent to 6 months payment in advance will be issued to eligible claimants that have proven their claim. This payment will come with "no strings attached".

Ultimately a final claim amount will be calculated taking into account lost income and projected lost income into the future. At that point the claimant will have the choice of accepting that amount and waiving any right to sue BP or rejecting the claim and pursuing BP through litigation.

Mr. Feinberg specifically spoke to real estate values and said "the fund will not recognize diminished value of real estate". He qualified this with stating that there were instances where a loss would actually have been sustained, but generally speaking everyone with real estate will not necessarily have a loss based on reduced value.

At this time the deadline for "full and final" payments on claims is set for August 23, 2013.

I do not expect that all of us will be thrilled with the outcome at the end of this saga. Surely each of us would love to hit the "undo" button and be reset to April 19, 2010 taking our chances on what the weather would bring our way.

Mr. Feinberg may be the closest thing to an "undo" that we will see.

Perdido Key pursuing Pepsi Refresh Prize!

2010-08-09T14:25:00.000-07:00

Perdido Key is vying for the opportunity to "give away the keys" to the island with help from the Pepsi Refresh program.

A 15 mile long barrier island that lies west of Pensacola Beach and east of Gulf Shores, AL and Orange Beach, AL, Perdido Key is Florida's 'first beach'.

Thanks to the BP oil spill this hamlet by the sea has suffered tremendous loss of business this summer, though the actual physical affects of the spill have been minimal.

In an effort to reignite the public to visit the area, the Perdido Key Area Chamber of Commerce came up with the idea of providing about 200 FREE condominium stays that would be paid for by $250,000 grant by the Pepsi Refresh program.

By providing free accommodations the traveler can enjoy the island activities 'risk free'. The Chamber requests that you vote now and everyday until the voting closes on August 31. Log on now!

http://gulf.refresheverything.com/keystothekey

Send this link to all of your friends and encourage them to vote daily!

Pepsi is "doing Good on the Gulf" you can too!

Is anything happening out there?

2008-11-19T10:25:00.000-08:00

This is a question that is asked of me almost daily regarding the real estate market in Perdido Key.

My response is this: "Yes, things are happening. Savvy buyers are buying, and the sellers who have come to terms with the market are pricing their properties properly and selling them."

This is not to say that making a change in price - even a drastic one - will immediately result in a sale, but it will most definately improve the seller's odds of being shown, which is the first step in getting it sold.

To the question, "Are there mortgages available?" the answer too is "Yes!" It is far more along the lines of the "olden days" when folks were expected to provide documentation to support both their ability and willingness to repay a debt. These days were largely forgotten over the course of a few years of intoxicatingly "easy money" made available through low or no documentation loans. But to imagine that mortages are unobtainable is completely inaccurate. The first and best thing that a prospective buyer can do should they require a loan to make a purchase, is to work with a reputable mortgage lender. The type of property that you hope to purchase should guide your selection of a mortgage company.

If you would like to purchase a condominium, or a waterfront home, then it is absolutely critical that you speak with a lending source that knows that market and has products available. Ask the question: " Does your institution currently make loans on waterfront condominium properties? If so, what special requirements might there be of the seller or of me?" Once you have been pre-qualified request a letter to that effect from the lender and use this as a bargaining tool when making an offer to purchase.

Being "prepared to close" puts a buyer in an amazingly powerful position to negotiate today. Obviously the first choice - if there is a choice - is the "CASH" buyer.

Any realtor "worth their salt", should advise a seller to think long and hard before turning down a cash offer. The volitility of the lending market, and the wariness of appraisers and underwriters make the course to even a conventional loan with low loan to value a frighteningly unpredictable.

The second best choice is an already bona fide borrowing buyer.

Get in the game guys! The price is right!

Click here is an example of an incredible buy available now on Perdido Key! http://www.guruhomevisions.com/main/virtual-tour.aspx?property=5873

Newbie Blogger

2008-10-21T08:47:00.000-07:00

OK, Here we go. This is a first for me, but being a true 'southern girl it is not so surprising that it took me a while! Here in gorgeous Perdido Key, Florida it is about 75 degrees, sunny and breezy as we enter the last days of October.

Perdido Key is a barrier island that lies just south of Alabama, west of Pensacola Beach, Florida and east of Gulf Shores, Alabama. The Spanish "perdido", meaning "lost" refers to the tucked away bays and inlets that allowed pirates, and war ships to successfully hide away in years gone by. Those of us fortunate enough to call this fair isle home recognize the "treasure" that is Perdido Key. Frankly, many of us are very happy for it to be "lost"!

Our sugar white beaches, emerald green Gulf of Mexico waters, abundant fishing, boating, golf and other recreational activities have lurred many a happy soul in our direction.

When the winter winds howl up north, pack up and head our way! You will be glad you did. Perdido Key is a fine example of good old southern hospitality surrounded by the most beautiful beaches on earth. A combination that is just very hard to beat! Come on down!