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.
Monday, September 13, 2010
Thursday, August 12, 2010
Tuesday, August 10, 2010
Kenneth Feinberg Makes Another Visit to Pensacola
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.
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.
Monday, August 9, 2010
Perdido Key pursuing Pepsi Refresh Prize!
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!
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!
Wednesday, November 19, 2008
Is anything happening out there?
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
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
Tuesday, October 21, 2008
Newbie Blogger
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!
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!
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