Robin Sherman, CRS, EcoBroker, Pensacola Beach

Given the constant barrage of bad economic news, who would guess that little 'ole Pensacola, Florida, has the third highest job growth rate in the state. Or even more unbelievable, that Pensacola's five years of job growth put it in place number 29 for the nation. As Carlton Proctor pointed out in a Pensacola News Journal article today, nearby Mobile, AL, only ranted in the 125th place and powerhouse Atlanta rated number 59.

These numbers come from a study by the privately funded Milken Institute. The study pointed out that Pensacola's overall ranking, including one-year and five-year growth rates, put it in the 33rd place in the nation.

So we hear enough of what Pensacola is doing wrong, what is the city doing right? Surely something to garner such good job growth rankings. Many point to the growth of small high tech firms who find the Pensacola Bay Area's proximity to area military installations- NAS Pensacola, Hurlburt AFB, Eglin AFB and their associated defense industry contractors - as one of the drivers of this job growth. The Pensacola Bay Area Chamber of Commerce has worked hard to promote both tourism and job growth and should be lauded for innovative economic development efforts like I-10 Wired, an outreach and networking initiative to help small high tech firms connect.

But our affordable housing, award winning schools and good quality of life are also responsible. So, let's resist jumping on the negative bandwagon and look around at what is really going on in Northwest Florida!

Galveston's East Beach Palisade Palms Luxury Condos Now Closing . . . So what's a Florida real estate broker doing blogging on a Texas condominium project? I'm so glad you asked!

While my primary real estate market area is the Greater Pensacola Bay Area and I sell all manner of residential (and on occasion commercial) property in the Pensacola area, I am also licensed in Alabama and Mississippi and sell real estate across the Gulf Coast. Back in 2005, while I was knee deep in selling pre-construction condominiums throughout the three state region, I was approached by a Texas developer with a condominium project planned for East Beach on Galveston Island. Did I have clients that might be interested? At first I wasn't so sure, but after a quick fact finding trip to the East Beach site and several meetings with the Palisade Palms principals, I realized that I have LOTS of clients who would find this landmark condominium very exciting. Ultimately, I had just under 30 clients that decided to purchase in this outstanding Galveston luxury condominium project.

Fast forward to today and - guess what - this twin tower modern landmark is complete and residents are moving in! And what an amazing, amentiy rich condominium project Palisade Palms really is! The two towers front the Gulf of Mexico and the amazing curvilinear design allows sweeping Gulf views and privacy from the unit balconies.

This is one large project, with a total of 288 units and nine separate floorplans ranging from 1,044 square feet to 2,957 square feet. The project is just a quick one hour drive from Houston. One amazing selling point, this is the first modern highrise built on Galveston Island in over 20 years! And is it modern! Here are just a few of the Palisade Palms condominium amenities:

Plaza Deck with Infinity Edge Pool and Spa Hot Tubs, Children's Pool, Luau Fire Pits, Tennis Courts, Doggie Bark Park, Kids Club Area and Sandbox, Lobby Entrance with Dramatic 20 foot Ceilings, Lobby Lounge with Gulfside Views, On Site Property Management Ofices, Business Services and Conference Meeting Room, Morning Lounge, 2nd Floor Lounge and Cafe Bar, State of the Art Fitness Center, Cocktail Lounge and Private Dining/Party Room with Catering Kitchen . . . well, You get the idea!

Are you or one of your clients interested in Palisade Palms? Be sure and give me a call and let me walk you through the ins and outs of purchasing property on the Gulf Coast - Florida to Texas! I'll be happy to help! Galveston's East Beach Palisade Palms Luxury Condos Now Closing . . .

This blog is written by Robin Sherman, MA, CRS, Broker Associate, Colcwell Banker United Realtors. All views and opinions are her own. You can contact Robin via phone at 850-516-8185 or e-mail her at Robin@PensacolaForYou.com.

Downtown Pensacola - Fiestas, Festivals and French Architecture - Could you have more fun than watching the merriment of costume clad people tossing candy and beads? Every summer Pensacolians line the downtown streets for the Fiesta of Five Flags procession and parade. And every summer I do my best to be in town to catch the goodies during the Fiesta festivities!

The parade route winds its way through the center of downtown Pensacola, passing bystanders on the street and merry makers lining the balconies of upstairs New Orleans style condos and apartments. The parade usually boasts twenty or more floats, McGuire's bagpipe marching band, twirlers, and more.

This year marks the 59th Fiesta of Five Flags. The event started in the 1940s as a way to promote tourism. It marks the landing on Pensacola Beach of Spanish explorer Don Tristan DeLuna and the history of the five flags that have flown over the city; Spanish, French, English, the Confederacy and the United States. The various activites making up today's year round Festival are truly too numerous to list, but include a sand castle contest, a crawfish festival, a treasure hunt, boat parade and seafood festival.

Pensacola's downtown core has a mix of single family homes and condominiums with numerous neighborhoods featuring historic homes as well as newer homes in a variety of historic styles. Real estate prices in the downtown area have not declined as they have in some other areas as there have been several popular revitalization efforts, like the Aragon neighborhood.

Interested in real estate in a "right sized" town with fabulous weather, affordable housing and plenty to do on a regular basis? I'd love to tell you about Pensacola!

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Market Trends in the Pensacola Bay Area - We've had our Ups (2003 to 2006) and we've had our Downs (2007 to . . . ). So where are we right now? Here's a year over year comparison for the Pensacola Bay Area's real estate market:

Our total number of sales shows a distinct downward trend - 22% fewer closed sales year over year - to be exact. But, look at the average sold price . . . almost $5,000 higher.

So what gives? Well, it's tough to tell in the macro view, but on the micro level I am seeing the Pensacola Bay Area real estate market remain strong in the $225,000 and under price range while our higher priced inventory is having to adjust prices downward in order to sell.

What does this spell for consumers? For the time being I see opportunities across the board, but particularly on higher priced homes, beach properties and waterfront properties.

The buyers continue to ask, "Is it time to jump in?" My answer, let me run the numbers for you for the particular Pensacola area or neighborhood you are interested in. We can see if properties are trending upward or downward. Then the question is simply, "Are you ready to jump?"

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