Wednesday, May 20, 2015

Homes in Pensacola Beach

Do you dream of living the “beach life”? Is your idea of heaven having water as far as the eye can see, dolphins playing in your back yard, and sun, sun, sun? Such a place does exist and its name is Pensacola Beach. This nine mile stretch of Florida paradise is on the west end of Santa Rosa Island, a barrier island connected to the mainland by the Bob Sykes Bridge. The sound is on one side, and the Gulf of Mexico stretches out on the other.

It is easy to see why Pensacola Beach is the premiere destination for residents, vacationers, and beach bums alike. This incredible beach is part of the Gulf Island Seashore Park system, and the easy-going lifestyle can calm even the most frayed nerves in need of relaxation. Vacationers come back year after year while others succumb to Pensacola Beach’s charm and make it their permanent home.

Stunning beaches are only part of the charm. Sport fanatics will find every kind of activity imaginable – fishing and charter boats, jet skis and parasails, surfing, swimming, motor boating and sailing, diving, hiking, and camping are available all around.

For those not athletically inclined there are shops and restaurants with seafood galore. There are beach boutiques and beach bars where you can sit back with your favorite frozen beverage and relax while you listen to live music. Pensacola is also the home of the Navy’s esteemed “Blue Angels” US Navy and Marine Corps flight Demonstration Squadron. Residents and visitors enjoy watching the team practice maneuvers over the Pensacola Bay on Tuesday and Wednesday mornings.

You will find mostly condos here, and although a good many are investment properties, many people are making the beach their permanent home. The Beach Club, Emerald Isle, and Portofino Towers are three popular condominium resorts that bring enthusiastic vacationers back year after year.

Condos vary greatly in location, size, and amenities. Prices vary accordingly from $200,000 to over $2,000,000 and offer owners an opportunity for rental income as well as a luxury vacation home. Waterfront and beachfront houses are plentiful for those seeking a more private home, and are as varied in prices and community amenities as the luxury condominium towers. Some of the best homes for sale on Pensacola Beach can be found in Villa Segunda, Villa Primera, Villa Sabine, and Santa Rosa Villas.

Browse through the communities and condo resorts on our website. We are always happy to show you what real estate in Pensacola Beach is all about, and you won't find a better slice of Paradise in Florida than right here. Call us today.

Emerald Coast Realty
240 E Intendencia St
Pensacola, FL 32502
(850) 437-5618

Tuesday, February 25, 2014

Delinquency and Foreclosure Rates Decline to Pre-crisis levels

Real Estate mortgage delinquency rates for residential properties as decreased significantly decreased; in fact they have decreased to pre-crisis levels according to Michael Fratantoni, Chief Economist for Mortgage Bankers Association.

The number of home loans in foreclosure has decreased to 2.86%, this is the lowest level since 2008.  New foreclosures have dramatically declined

Florida still has the greatest number of  home foreclosures at 8.56%, but even this is down great deal from its peak of 14.5%.


Thursday, May 9, 2013

Reports Shadow Real Estate Inventory Down 28 Percent

Reports Shadow Real Estate Inventory Down

I still hear people today expressing worry about the "Shadow Inventory", a worry that took root in 2010. The worry stems from a concern that all this inventory would be dumped on the market and this in turn would depressing home prices.

This article provides real data that demonstrates this inventory is continuing to decline. In fact in Pensacola, real estate inventory is down to 2005 levels.

CoreLogic Reports Shadow Inventory Down 28 Percent From 2010 Peak

Serious Delinquencies Falling Fast...

CoreLogic® (NYSE: CLGX), a leading residential property information, analytics and services provider, reported today that the overall shadow inventory is down 28 percent from its peak in January 2010, when it reached 3 million homes. Current residential shadow inventory as of January 2013 was at 2.2 million units, representing a supply of nine months. This figure represents an 18-percent drop from January 2012*, when shadow inventory stood at 2.6 million units.
CoreLogic estimates the current stock of properties in the shadow inventory, also known as pending supply, by calculating the number of properties that are seriously delinquent, in foreclosure and held as real estate owned (REO) by mortgage servicers, but not currently listed on multiple listing services (MLSs). Transition rates of “delinquency to foreclosure” and “foreclosure to REO” are used to identify the currently distressed unlisted properties most likely to become REO properties. Properties that are not yet delinquent, but may become delinquent in the future, are not included in the estimate of the current shadow inventory. Shadow inventory is typically not included in the official reporting measurements of unsold inventory.
“The shadow inventory continued to drop at double the rate in January from prior-year levels. At this point in the recovery, we are seeing healthy reductions across much of the nation,” said Anand Nallathambi, president and CEO of CoreLogic. “As we move forward in 2013, we need to see more progress in Florida, New York, California, Illinois and New Jersey which now account for almost half of the country’s remaining shadow inventory.”
“The shadow inventory is declining steadily as properties are moving through the distressed pipeline,” said Dr. Mark Fleming, chief economist for CoreLogic. “States like Arizona, California and Colorado are experiencing significant declines year over year in the stock of serious delinquencies, a positive sign for further improvement in the shadow inventory.”
Data Highlights as of January 2013:
  • As of January 2013, shadow inventory was at 2.2 million units, or nine months’ supply, and represented 85 percent of the 2.6 million properties currently seriously delinquent, in foreclosure or REO.
  • Of the 2.2 million properties currently in the shadow inventory (Figures 1 and 2), 1 million units are seriously delinquent (4.1 months’ supply), 798,000 are in some stage of foreclosure (3.2 months’ supply) and 342,000 are already in REO (1.4 months’ supply).
  • The value of shadow inventory was $350 billion as of January 2013, down from $402 billion a year ago and down from $381 billion six months ago.
  • Over the twelve months ending January 2013, serious delinquencies, which are the main driver of the shadow inventory, declined the most in Arizona (40 percent), California (33 percent), Colorado (27 percent), Michigan (25 percent) and Wyoming (23 percent).
  • As of January 2013, Florida, California, New York, Illinois and New Jersey carried 44 percent of all distressed properties in the country. Florida continues to account for 16 percent of the nation’s distressed properties.
*Previous data was revised. Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results.
The full press release with additional charts is available here.
The full January 2013 Shadow Inventory Report with additional charts and roll rate information is available here.
CoreLogic uses its Loan Performance Servicing and Securities databases to size the number of 90+ day delinquencies, foreclosures and real estate owned (REO) properties. Cure rates, which measure the proportion of loans in one stage of default that cured (versus moving to more severe states of default), are applied to the number of loans in default at each stage of default. CoreLogic calculates the share of loans in default that are currently listed on MLS by matching public record properties in default to MLS active listings. It applies the percentage of defaulted loans that are currently listed to the estimate of outstanding loans that will proceed to further stages of default to calculate the pending supply inventory and adds that to the reported visible inventory. Visible inventory is compiled from CoreLogic Listing Trends. To determine months' supply for visible and shadow inventories, CoreLogic uses the number of non-seasonally adjusted home sales according to CoreLogic data.
Source: CoreLogic
The data provided is for use only by the primary recipient or the primary recipient's publication or broadcast. This data may not be re-sold, republished or licensed to any other source, including publications and sources owned by the primary recipient's parent company without prior written permission from CoreLogic. Any CoreLogic data used for publication or broadcast, in whole or in part, must be sourced as coming from CoreLogic, a data and analytics company. For use with broadcast or web content, the citation must directly accompany first reference of the data. If the data is illustrated with maps, charts, graphs or other visual elements, the CoreLogic logo must be included on screen or website. For questions, analysis or interpretation of the data, contact Lori Guyton at or Bill Campbell at Data provided may not be modified without the prior written permission of CoreLogic. Do not use the data in any unlawful manner. This data is compiled from public records, contributory databases and proprietary analytics, and its accuracy is dependent upon these sources.
About CoreLogic
CoreLogic (NYSE: CLGX) is a leading property information, analytics and services provider in the United States and Australia. The Company’s combined data from public, contributory, and proprietary sources includes over 3.3 billion records spanning more than 40 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, transportation and government. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in seven countries. For more information, please visit
CORELOGIC and the CoreLogic logo are registered trademarks of CoreLogic, Inc. and/or its subsidiaries.

Key Contacts

Real Estate Trade Media

Bill Campbell
Campbell Lewis
(212) 995-8057
Email Real Estate Trade Media Contact

Government Entities

Jordan Hassin
Crosby-Volmer International Communications
(202) 232-6601
Email Government Entities Contact

General News Media

Lori Guyton
Crosby-Volmer International Communications
(901) 277-6066
Email General News Media Contact
March 26, 2013, Irvine, Calif. –

Thursday, December 29, 2011

NAR - Pending Home Sales Rise Again in November

Pending Home Sales Increase Again in November, Highest in more than a Year

Washington, DC, December 29, 2011

Pending home sales continued to gain in November and reached the highest level in 19 months, according to the National Association of Realtors®.
Pending Home Sales Index,* a forward-looking indicator based on contract signings, increased 7.3 percent to 100.1 in November from an upwardly revised 93.3 in October and is 5.9 percent above November 2010 when it stood at 94.5. The October upward revision resulted in a 10.4 percent monthly gain.
The last time the index was higher was in April 2010 when it reached 111.5 as buyers rushed to beat the deadline for the home buyer tax credit. The data reflects contracts but not closings.
Lawrence Yun, NAR chief economist, said the gains may result partially from delayed transactions. “Housing affordability conditions are at a record high and there is a pent-up demand from buyers who’ve been on the sidelines, but contract failures have been running unusually high. Some of the increase in pending home sales appears to be from buyers recommitting after an initial contract ran into problems, often with the mortgage,” he said.
“November is doing reasonably well in comparison with the past year. The sustained rise in contract activity suggests that closed existing-home sales, which are the important final economic impact figures, should continue to improve in the months ahead,” Yun added.
Pending home sales are not affected by the recently published rebenchmarking of existing-home sales because the index uses a different methodology based directly on contract signings, and is adjusted for seasonality.
The PHSI in the Northeast rose 8.1 percent to 77.1 in November but is 0.3 percent below November 2010. In the Midwest the index increased 3.3 percent to 91.6 in November and is 9.5 percent above a year ago. Pending home sales in the South rose 4.3 percent in November to an index of 103.8 and remain 8.7 percent above November 2010. In the West the index surged 14.9 percent to 121.2 in November and is 2.9 percent higher than a year ago.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

Saturday, November 12, 2011

You Can't Stop American Home Buyers

There are an estimated 2 million home buyers that are poised to take the plunge just as soon as the economy returns from the deep.

That's because Americans still place a high value on homeownership, but qualifying for a mortgage and raising a down payment in an economy that won't produce jobs, keeps many of them sitting on the fence.

Eighty-nine percent of owners and 59 percent of renters feel that homeownership is important to the American family while 87 percent of owners and 73 percent of renters feel homeownership is an economic cornerstone, according to Hanley Wood's Housing 360 Survey.

Indeed, housing, including shelter itself, household operations, insurance, fuels and utilities, water, sewage and trash services and furnishings, among other expenditures, account for about 40 percent of the Consumer Price Index, an index of consumer expenditures, according to the U.S. Bureau of Labor Statistics.

Approximately one in three renters and about one in five existing homeowners think it's a good time to buy a home and plan to make a move to buy in the next two years, according to the survey.

The survey was electronically delivered to homeowners and renters from a national sample of adults 20 years of age and older in June to early July 2011 resulting in 3,005 results, including 1,954 homeowners and 1,051 renters.

"We thought people would be soured after watching home values fall but instead we found the typical American still places high value on homeownership," said Frank Anton, CEO of Hanley Wood a media company and data research outfit serving the housing and construction industries.

"We found this holds across all demographic groups and across the country, even in hard-hit places like Nevada and Arizona where there have been 50 percent or more declines in value. The increase in the rise of rental rates in many markets is one factor driving people to consider buying," Anton added.

Survey findings indicate as many as two million potential home buying consumers are waiting to jump into the market when the time is right.

Home buyers and renters said there is no great urgency to buy, due to soft economic conditions. Many of them are satisfied with perching on the fence, for now.

They are perched trying to determine how to overcome the challenges of stiff underwriting and, even though some home prices are half what they were a half decade ago, it's also tough coming up with enough cash for a down payment and enough left over to show lenders they are viable home loan holders.

"There are obstacles in the way of home buying. The over-correction in the mortgage market is a drag on the process. We've gone from one extreme to the other and it's stalling the housing market and therefore the economy," said Kent W. Colton, president of The Colton Housing Group and senior fellow at Harvard University Joint Center for Housing Studies.

The survey covered 70 questions relating to the decision-making process and attitudes on homeownership, renting, remodeling, financing, home buying, gasoline prices, household relationships, and retirement planning. Sixty two percent of respondents were first-time homeowners.

The survey also found:

Seventy-two percent of owners and 59 percent of renters think now is a good or very good time to buy.

Twenty-nine percent of owners and 12 percent of renters would prefer to buy a new home; 34 percent of owners and 41 percent of renters would prefer to buy an existing home. People prefer new homes because they are new and there is less maintenance. They prefer existing homes because they are more affordable and they want to live in an existing community.

Doubling up/multi-generational trends have increased with 30 percent of respondents saying they've "doubled up" and live with adult children or parents.

It's a good time to remodel. Forty-two percent of owners say now is a good time to remodel. Top remodeling priorities are maintenance and energy efficiency. Most homeowners will pay for remodeling from personal savings.

Retiring in place remains popular with 60 percent of homeowners planning to stay in their current home for their entire retirement.

Written by Broderick Perkins