Blog Northwest Florida

Jazz it Up in Pensacola! Let's see . . .  how to fill a Thursday night on the beautiful Emerald Coast. Sit home and watch television? No way. Not when we've got such talent walking our streets!

My good friend and well known "Jazz Chanteuse" Kitt Lough has a new gig every Thursday evening at 600 Palafox, New World Landing in downtown Pensacola. Kitt's wowing the Pensacola audiences with her sultry, swinging jazz standards with Dave Shelander at the piano and Jim Ales playing string bass.

Last night's audience was a mix of the downtown after-work crowd and Kitt, Dave and Jim's dedicated fan club. If you haven't been to 600 South you might jott it down on your calendar now. Kitt and the guys are there each Thursday starting at 7pm. The atmosphere is elegant and comfortable and the music is . . . well romantic and glamorous are descriptions that begin to scratch the surface! 

Kitt has her debut CD "Orange Colored View" on sale and it has received rave reviews and plenty of air time on jazz stations across the Southeast.

See you next week as you Jazz Up Your Thursday! 

You'll find the Jazz trio at 600 South which is in the New World Landing complex at 600 South Palafox Street - Downtown Pensacola.

Got the question again today, "Have we hit bottom yet?" Well, to be honest the answer is Yes And No. As the National Association of Realtors has worked hard to explain, all real estate is local. And then there's local within a given area.

Here's a Pensacola Beach, FL, example. In 2005 I sold a Gulf front condo in a particular building for $700,000. A few days later another agent in my office sold the same floorplan for $715,000. These are great units with stellar rental history and as I said . . . Gulf front, but this was top of the market. Zip forward to late '07 and early '08. We had four of these units come on the market for between $375,000 and $425,000. Guess what . . . the smart money jumped in and they all sold quickly (Can you spell CASH FLOW?). It appears that all those that needed to sell did so as there is now only one active listing of this same floorplan and it is priced at $565,000. So, as far as this building goes . . . We've hit bottom.

And then I can give you an example of another condo project on the same beach where we haven't hit bottom. This building isn't Gulf front, but it's only a few hundred yards away from the Gulf and it is truly amenity packed. But the fundamentals are different. It's newer, farther from the retail core and doesn't have the repeat rental business yet. It also doesn't rent as well because it isn't Gulf front. Because there are so many amenities there are "amenity fees" associated with the rentals and renters tend to balk at this if there is an alternative. This project was sold when the pre-construction rush was in full force so there were a lot of "speculator" sales. So, as far as this building goes . . . We haven't hit bottom yet. 

 Bottom line (So to speak!) - just as with stocks - you need good professional help if you are looking at timing the real estate market.

 One thing is for sure, as with stocks there is a cycle to real estate and many factors impacting that cycle. The smart money doesn't always get the bottom, but it usually gets pretty close.

So the next time you get the question, "Hit bottom yet?" The answer really needs to be . . . you bet . . . let me give you the specifics!

Gulf Breeze Home Sales . . . Things aren't always as they seem.  A look at the actual numbers can sometimes be surprising. The following sales figures are from the Pensacola Association of Realtors Multiple Listing Service. Here are the figures:  

While sales of homes, townhomes and condos in Gulf Breeze have slowed for the period Jan. 1 to April 23, compared to the same period a year ago sales prices are actually significantly higher. Our number of days on the market continues to lengthen and  there is plenty of inventory with 562 active listings. That's about 60 months of inventory at the current Gulf Breeze Home Sales rate . . . ouch!

Pensacola's Earth Day - The University of West Florida returned to the original Earth Day Celebration concept by hosting a day filled with educational lectures and demonstrations aimed at protecting our earth; the Earth Day Environmental Symposium. From recycling to energy credits, there were opportunities to learn about a variety of earth healthy ideas at Pensacola's Earth Day Celebration.

But the important festival concept of Earth Day continued for Pensacola's Earth Day with Saturday's celebration in Bayview Park. Dozens of vendors, non-profit organizations and community groups participated and - WOW - did the weather cooperate.  

Thousands of people came together to learn about the environment, enjoy the great weather and just have some fun. While children played on the climbing wall and playground equipment, adults learned about natural lighting options, organic produce, had the opportunity to have their fortunes read and picked up tips from the Escambia County Master Gardners. And these were only a few of the dozens of activities!

We're fortunate that Pensacola's early urban planners recognized the need for gathering spaces for the public and incuded numerous parks throughout the city. Bayview Park is one of the largest in town and includes a community center, a senior center, playground equipment, a dog park, tennis courts and pic-nic shelters. The park is always busy when the sun is out. What a blessing for Pensacola's Earth Day.

Pensacola Dream Home Goes Green . . . It could not have worked out better . . . What is more fitting than for the Home Builders Association of West Florida's Parade of Homes to kick off on a gloriously sunny Earth Day with a "Green Dream Home?" No wonder the line of people waiting to see the home stretched around the block!

One of my very favorite local builders, West Calhoun has really pulled out all the stops this year by ensuring that the Dream Home is not only esthetically pleasing and well built, but "Green" as well. Calhoun partnered with Gulf Power to make sure the home was not only Energy Star qualified, but also qualifies as a Florida Green Building Coalition "Green Home." The additional energy features in this home will save 50% when compared to your typical construction.

Some of the features that make the home "Green" and add to the energy savings are features that you won't see. The heating and cooling, for example, rely on a geothermal unit with built in hot water recovery and a Metlund water circulation system moves hot water from the water heater to the most remote fixtures in seconds.

But, if you're like me you're VERY interested in what you can see. And you won't be disappointed! To qualify as a "Green Home" the interior design had to rely on recycled or eco-friendly materials. From the cabinet manufacturer's plant that has been certified "Green" to the sustainable cork and wood floors, and carpets made from recycled materials, the overall feel is quality, soothing and liveable. I loved the relaxing back patio which features a fireplace and outdoor kitchen, extending the living area of the home into the outdoors.

I would go on, but the Parade of Homes lasts through April 27th. Take my word for it, you must go! 

The 2008 American Dream Home is located in the new Nature Trail subdivision in Pensacola.

Need more information on the Pensacola Dream Home? I'm just an e-mail or phone call away.

Pensacola Florida Real Estate Market - Historically speaking, Florida real estate has outperformed other investments, including most real estate investments elsewhere in the U.S. Want to know where the opportunities are now?

Northwest Florida - the Emerald Coast - remains the most affordable area of the state. With the growth in the area military population (especially Eglin Air Force Base) and the recent positive regional economic news (Thyssen Krupp Steel plant and Northrop Grumman Tanker contract in Mobile, AL, I-10 Wired high tech initiative, etc.) Pensacola provides super opportunities for the homeowner and investor.

Median Home sales prices are down 9% in Pensacola - Feb. '07 to Feb. '08

                             Realtor Sales                                                                                Median Sales Price

Just read Debbie Sommers post on the Masters Tournament at Augusta National Golf Club that began this week 

Here's one for the record books: three golfers from a small town in the Florida Panhandle (the Emerald Coast) will be playing in the Masters Tournament this year. By small town I'm talking only 8,500 souls, a mere blip on the map!

Bubba Watson (30), Boo Weekley (34) and Heath Slocum (34) all attended Milton High School in Santa Rosa County. The trio, all friends from childhood, will be sure to have a big hometown crowd behind them. Now, do you suppose there's something in that beautiful emerald green water?

Lots of beach buying opportunities on the nation's most beautiful beach! Today there are 276 condominiums actively listed on the Pensacola Multiple Listing Service. Prices range from $179,999 to $2,274,925. The average list price is $653,875 with the median price being $599,000.

Super buy? A 1691 square foot 3 bedroom/3 bath condo built in 2006 that is listed for $625,000. This beach condo features gorgeous views of both the Gulf of Mexico and the Santa Rosa Sound, a state-of-the-art exercise facility, pool and hot tub and a front row seat for the July 12th Navy Blue Angel's Air Show. You don't have to look far for beach buying opportunities in today's market!

Check out my big catch from last year!

This one was a fighter. He just about pulled me overboard and I was working hard to make sure he was my dinner instead of feeding the toothy Barricuda that was in hot pursuit! 

Gulf Red Snapper season is just around the corner - the Florida season opens April 15, and you can bet the anglers will be out in force. I know several friends are preping their boats in anticipation of the big day. 

If you plan to fish for these bright red guys, be aware that there are some new rules this year. While there are no changes to Florida's rules, the Florida Fish and Wildlife Conservation Commissions cautions that new limits appy in federal waters (Federal waters begin 9 nautical miles off the coast.). The Federal season does not begin until April 21, and the 4 per day bag limit will only apply from April 21 to May1. May 2nd you will only be allowed two of these tasty guys.

Now, GO FISH!

Interesting editorial in today's Pensacola News Journal. The subject is the trickle down theory - or in this case trickle sideways theory (geographically speaking) - of jobs. There have been recent announcements of large employers (Northrop Grumman, EAS, Thyssen-Krupp) coming to Mobile, AL, only an hour's drive from Pensacola , and some Pensacolians have bemoaned the fact that here we sit with a slow housing market, a slow economy, on and on . . . ad nauseum.,

As the editorial points out, employers with projects of this size require hundreds of suppliers and they aren't all right under the principal's nose. In the case of Mobile, with a current fully employed workforce, they are definitely going to be reaching out for both goods and services and Pensacola's proximity is a plus! Couple that with a strong military and defense contracting community (Naval Air Station Pensacola, Hurlburt Air Force Base, Eglin Air Force Base), affordable housing and a great quality of life you have the makings of a Silicon Valley South.

I have blogged in the recent past about Pensacola's iTen Wired, an economic development initiative aimed at bringing the rapidly growing high tech businesses on the Interstate 10 corridor from Mobile to Crestview, FL, together for networking and synergy. This group recently had their first summit bringing together over 200 people interested in furthering the cause. There's never been a better time . . . once the economic pendulum swings history shows it swings quickly!