Distressed Properties (short sales) News
Up to 24% of all Option ARMs are 90+ days late and this double next year when rates reset.
In 7 out 10 of foreclosures the owners of these properties are not attempting a work-out solution with their lenders.
Owners of nearly 50% of the those that had their loans modified are defaulting.
A short sale is when a property is sold for less than the loan balance. This type of transaction must be approved by the owner's lender.
Other News
Purchase of Washington Mutual by JP Morgan for $1.9 billion was overshadowed by the $700 billion bailout proposal. WAMU's assets are $307 billion and a total of $188 billion in deposits. WAMU's loan portfolio is $231.1 billion and in Qtr 2 $52.9 billion in Option ARMsand $62.5 billion in home equity lines of credit and lines of credit. Out of $52.9 billion in ARMs how many are in default?
Pensacola Florida Real Estate Stats
There are currently 4,480 residential detached houses for sale. There are 566 Pending Sales (12.6%). In the price range of $100,000 to $200,000 is where most of the pending sales are at (62.1).
Jack Lara - Keller Williams Realty of Pensacola
JackLara@kw.com www.PensacolaAreaProperties.com
(850) 471-5000
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Market Overview for NORTHEAST PENSACOLA Sep 10 Single Family Homes (detached houses) |
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| Price | Number of | Number | Number of | Number of | Average | Average | List to | Days | |
| Range | Active | of Pending | Pending | Expires Last | Closings Last | List Price | Sold | Sales | on |
| Listings | Listings | Ratio | Six Months | Six Months | of Solds | Price | Ratio | Market | |
| 0 - 74,999 | 2 | 2 | 100.0% | 3 | 9 | 66,833 | 58,895 | 88.1% | 79 |
| 75,000 - 99,999 | 18 | 4 | 22.2% | 16 | 18 | 93,542 | 90,625 | 96.9% | 76 |
| 100,000 - 124,999 | 32 | 8 | 25.0% | 26 | 29 | 118,341 | 114,545 | 96.8% | 157 |
| 125,000 - 149,999 | 43 | 16 | 37.2% | 53 | 37 | 143,516 | 137,081 | 95.5% | 104 |
| 150,000 - 174,999 | 43 | 6 | 14.0% | 38 | 29 | 168,031 | 162,079 | 96.5% | 92 |
| 175,000 - 199,999 | 32 | 1 | 3.1% | 40 | 15 | 190,207 | 183,285 | 96.4% | 108 |
| 200,000 - 249,999 | 36 | 6 | 16.7% | 26 | 14 | 234,379 | 223,686 | 95.4% | 124 |
| 250,000 - 299,999 | 14 | 0 | 0.0% | 9 | 3 | 289,633 | 259,967 | 89.8% | 144 |
| 300,000 - 349,999 | 7 | 2 | 28.6% | 5 | 1 | 349,900 | 310,000 | 88.6% | 74 |
| 350,000 - 399,999 | 18 | 0 | 0.0% | 15 | 3 | 382,433 | 356,667 | 93.3% | 107 |
| 400,000 - 499,999 | 13 | 2 | 15.4% | 12 | 4 | 470,750 | 436,250 | 92.7% | 130 |
| 500,000 - 749,999 | 16 | 0 | 0.0% | 14 | 1 | 599,000 | 575,000 | 96.0% | 73 |
| 750,000 - 999,999 | 9 | 1 | 11.1% | 2 | 1 | 825,000 | 755,000 | 91.5% | 71 |
| 1 million ++ | 4 | 0 | 0.0% | 1 | 1 | 1,200,000 | 1,011,774 | 84.3% | 207 |
| Market Totals | 287 | 48 | 16.7% | 260 | 165 | 97 | |||
Free market snapshot. Get the latest information on what is going on in your local real estate market. Find out what is for sale and what has sold. General market data to get a rough range on where your value is at.
Go to www.PensacolaAreaProperties.com and then fill in the info box "Home Value 411 Market Snapshot". Be on top of the market
Jack Lara - Broker/Associate at Keller Williams Realty of Pensacola Florida
Real Estate Market Overview for Single Family Detached Homes in the Pensacola Area. Covering Escambia and Santa Rosa County. Also a separate Market Overview for Northeast Pensacola Homes. You can visit my website to click on the link that will give you this information. This real estate info is Free to you...You don't have to sign up for it. This is valuable info for either a seller or buyer. Visit www.PensacolaAreaProperties.com
Current interest rates are approximately 6.5% give or take a quarter point. As the subprime market continues to put a drag on the financial market the rates for long term loans are inching upward. Tougher guidelines/requirements are putting a squeeze on buyers which in turn is reducing the number of buyers in the marketplace and that in turn will continue to put pressure on sellers to further reduce their pricing.
Jack Lara - Broker/Associate Keller Williams Realty of Pensacola.......email: JackLara@kw.com
<script type="text/javascript"></script> Search Criteria: status= ACT, CON, ACT, CON, PND and <> XF|(subdivision like NORTHPOINTE OR proj
| NORTHPOINTE CURRENT REAL ESTATE ACTIVITY ZIP CODE 32514 | Sunday, June 01, 2008 2:44:41 PM |
Honesty, Integrity, & Service ........"This Jack is Your Ace in Real Estate"...
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| MLS# | 351164 | 340576 | 349605 |
| Status | Active | Active | Active |
| Cat | RES | RES | RES |
| Address | 8018 NORTHPOINTE BLVD | 7575 NORTHPOINTE BLVD | 7527 SOUTHPOINTE PL |
| City | PENSACOLA | PENSACOLA | PENSACOLA |
| Zip | 32514 | 32514 | 32514 |
| Area | Northeast Pensacola | Northeast Pensacola | Northeast Pensacola |
| Sub Area | 0306 - N. of Creighton Rd, E. of 9th Ave, S. of Olive Rd, W. of the Escambia Bay, LORA POINTE | 0306 - N. of Creighton Rd, E. of 9th Ave, S. of Olive Rd, W. of the Escambia Bay, LORA POINTE | 0306 - N. of Creighton Rd, E. of 9th Ave, S. of Olive Rd, W. of the Escambia Bay, LORA POINTE |
| Subd. | NORTHPOINTE | NORTHPOINTE | NORTHPOINTE |
| List Amt | $115,000 | $125,000 | $128,400 |
| Sale Amt | |||
| Sold Date | |||
| Apx Sqft | 1,494 | 1,541 | 1,361 |
| Price/SF | 76.97 | 81.11 | 94.34 |
| Acres | |||
| Terms | |||
| DOM | 9 | 205 | 34 |
| Energy | DoublePane, CeilFans, RidgeVent, InsulatWal, InsulatCei | DoublePane, CeilFans, RidgeVent, InsulatWal, InsulatCei | CeilFans |
| Parking | 2CarGarage | 2CarGarage | 1CarGarage |
| Constrc | Frame | Frame, Brick | Block |
| Bedrooms | 3 | 3 | 3 |
| Baths | 2 | 2 | 2 |
| F/H | 2 / 0 | 2 / 0 | 2 / 0 |
| YearBlt | 1978 | 1990 | 1986 |
| Lot Size | 63.19X120 | ||
| Schools(E/M/H) | SCHT/FRP1/WAS1 | SCHT/FRP1/WAS1 | SCHT/FRP1/WAS1 |
| Remarks | This is a Pre-Foreclosure/Short Sale. LOCATION! CHARMING NORTHEAST PENSACOLA HOME.** WELL MAINTAINED HOME IN A LOVELY NEIGHBORHOOD WHERE PRIDE OF HOME OWNERSHIP SHOWS. ENJOY WALKING ON SIDE WALKS WITH CURBED STREETS. NEWLY PAINTED INSIDE. ROOF IS APP... | GORGEOUS LIGHT BRICK HOME LOCATED IN POPULAR NORTHPOINTE SUBDIVISION. OVER SIZED GREAT ROOM. SEPARATE DINING AREA. KITCHEN HAS LOTS OF CABINET SPACE WITH DISHWASHER, PANTRY, REFRIGERATOR, ELECTRIC RANGE, AND FORMICA COUNTERTOPS. HOME IS LOCATED CLOSE... | Adorable home in Northpointe subdivision. This home is move in ready!! Neutral colored paint and tile throughout. Seperate living room & dining room. Convient to local shopping, hospitals and schools. Home sits in a double culdesac "perfect for sm... |
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| MLS# | 337427 | 325148 | 350545 |
| Status | Active | Active | Active |
| Cat | RES | RES | RES |
| Address | 7486 NORTHPOINTE BLVD | 4516 SOUTHPOINTE LN | 4622 GLADSTONE DR |
| City | PENSACOLA | PENSACOLA | PENSACOLA |
| Zip | 32514 | 32514 | 32514 |
| Area | Northeast Pensacola | Northeast Pensacola | Northeast Pensacola |
| Sub Area | 0306 - N. of Creighton Rd, E. of 9th Ave, S. of Olive Rd, W. of the Escambia Bay, LORA POINTE | 0306 - N. of Creighton Rd, E. of 9th Ave, S. of Olive Rd, W. of the Escambia Bay, LORA POINTE | 0306 - N. of Creighton Rd, E. of 9th Ave, S. of Olive Rd, W. of the Escambia Bay, LORA POINTE |
| Subd. | NORTHPOINTE | NORTHPOINTE | NORTHPOINTE |
| List Amt | $134,900 | $149,900 | $157,000 |
| Sale Amt | |||
| Sold Date | |||
| Apx Sqft | 1,442 | 1,800 | 1,583 |
| Price/SF | 93.55 | 83.27 | 99.17 |
| Acres | |||
| Terms | |||
| DOM | 212 | 430 | 19 |
| Energy | CeilFans | StormDoors, StormWnds, CeilFans, InsulatCei | |
| Parking | 1CarGarage | 2CarGarage | 1CarGarage |
| Constrc | Frame, Brick | Frame, Brick | Frame |
| Bedrooms | 3 | 3 | 3 |
| Baths | 2 | 2 | 2 |
| F/H | 2 / 0 | 2 / 0 | 2 / 0 |
| YearBlt | 1989 | 1983 | 1980 |
| Lot Size | 85X128X90X130 | ||
| Schools(E/M/H) | SCHT/FRP1/WAS1 | SCHT/FRP1/WAS1 | SCHT/FRP1/WAS1 |
| Remarks | House is back on the market and ready to close......Home inspection repairs have been done...Title work has been completed and ready to close.....New Carpet and vinyl......just installed.....New LOWER Price!!!!!High ceilings and open floor plan make ... | Beautiful Home in Northpointe subdivision! Great family room with fireplace. Eat in kitchen with bay window. separate dining and living rooms. Open Patio and fenced back yard.... | Convenient Northeast location. Close to Hospitals, schools and shopping. This beautiful 3 bedroom, 2 bath home is in better than new condition. Freshly painted inside and out. New laminate flooring and carpet throughout. Split floorplan features a HU... |
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| MLS# | 350561 | 348535 | 341514 |
| Status | Active | Contingent | Contingent |
| Cat | RES | RES | RES |
| Address | 7738 FOLKSTONE DR | 4513 GLADSTONE DR | 7523 NORTHPOINTE BLVD |
| City | PENSACOLA | PENSACOLA | PENSACOLA |
| Zip | 32514 | 32514 | 32514 |
| Area | Northeast Pensacola | Northeast Pensacola | Northeast Pensacola |
| Sub Area | 0306 - N. of Creighton Rd, E. of 9th Ave, S. of Olive Rd, W. of the Escambia Bay, LORA POINTE | 0306 - N. of Creighton Rd, E. of 9th Ave, S. of Olive Rd, W. of the Escambia Bay, LORA POINTE | 0306 - N. of Creighton Rd, E. of 9th Ave, S. of Olive Rd, W. of the Escambia Bay, LORA POINTE |
| Subd. | NORTHPOINTE | NORTHPOINTE | NORTHPOINTE |
| List Amt | $162,750 | $115,900 | $135,000 |
| Sale Amt | |||
| Sold Date | |||
| Apx Sqft | 1,781 | 1,686 | 1,524 |
| Price/SF | 91.38 | 68.74 | 88.58 |
| Acres | |||
| Terms | |||
| DOM | 19 | 22 | 165 |
| Energy | DoublePane, CeilFans, InsulatCei | StormDoors, CeilFans, RidgeVent, InsulatCei | |
| Parking | 2CarGarage, Oversized | 2CarGarage, FrontEnt | 1CarGarage |
| Constrc | Frame, Brick | Frame | Frame, Brick |
| Bedrooms | 4 | 4 | 3 |
| Baths | 2 | 2 | 2 |
| F/H | 2 / 0 | 2 / 0 | 2 / 0 |
| YearBlt | 1977 | 1976 | 1990 |
| Lot Size | |||
| Schools(E/M/H) | SCHT/FRP1/WAS1 | SCHT/FRP1/WAS1 | SCHT/FRP1/WAS1 |
| Remarks | AS OF MAY 19, 11:30 A.M., THIS IS THE ONLY ACTIVE-LISTING PENSACOLA ASSOCIATION OF REALTORS PUBLIC MLS-LISTED 4-BEDROOM HOUSE WITH A POOL IN EAST PENSACOLA FOR UNDER $175,000! And one of only 2 listings for under $200,000! Features include a huge in-... | This home will be sold strictly as is with no warranties. Square footage was taken from county appraisers office. Conveniently located off of Olive Rd between 9th Avenue and Scenic Hwy. This home needs some TLC and could be a nice home for anyone th... | This Wonderful well kept home is ready for its new owner. Exceptionally nice, this home boasts of wood laminate flooring through the kitchen, living/dining area, hallway, and one of the bedrooms. The Master bedroom has carpet, a bathroom with walk-in... |
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| MLS# | 348262 | ||
| Status | Pending | ||
| Cat | RES | ||
| Address | 7474 NORTHPOINTE BLVD | ||
| City | PENSACOLA | ||
| Zip | 32514 | ||
| Area | Northeast Pensacola | ||
| Sub Area | 0306 - N. of Creighton Rd, E. of 9th Ave, S. of Olive Rd, W. of the Escambia Bay, LORA POINTE | ||
| Subd. | NORTHPOINTE | ||
| List Amt | $137,000 | ||
| Sale Amt | |||
| Sold Date | |||
| Apx Sqft | 1,953 | ||
| Price/SF | 70.14 | ||
| Acres | |||
| Terms | |||
| DOM | 13 | ||
| Energy | |||
| Parking | 2CarGarage | ||
| Constrc | Brick | ||
| Bedrooms | 3 | ||
| Baths | 2 | ||
| F/H | 2 / 0 | ||
| YearBlt | 1992 | ||
| Lot Size | |||
| Schools(E/M/H) | SCHT/FRP1/WAS1 | ||
| Remarks | Great home in established neighborhood. Home has an open design with split floor plan. Fireplace, back deck & basement room.... |
| Status | Total | Avg Price | $/Sqft/Acre | Median | Low | High | Avg DOM |
| ACT/CNT | 9 | $135,983 | $86.35 | $134,900 | $115,000 | $162,750 | 124 |
| PND | 1 | $137,000 | $70.14 | $137,000 | $137,000 | $137,000 | 13 |
| SLD/RNT/LSE | 0 | $0 | $0.00 | $0 | $0 | $0 | 0 |
| WTH | 0 | $0 | $0.00 | $0 | $0 | $0 | 0 |
| EXP | 0 | $0 | $0.00 | $0 | $0 | $0 | 0 |
| Total | 10 | $136,085 | $84.73 | $134,950 | $115,000 | $162,750 | 113 |
--Information deemed reliable but not guaranteed--Copyright: 2008 by the Pensacola Association of Realtors, Inc.
Search the Entire Market www.PensacolaAreaProperties.com EMAIL: JackLara@kw.com
Prepared by JACK LARA of KELLER WILLIAMS REALTY on 6/1/2008 2:44:41 PM
Northpointe is located in Northeast Pensacola and is accessible via Olive Road or Scenic Hwy. There is also a short-cut from 9th Avenue. The neigborhood is about 5 minutes from Interstate-10 via Scenic Hwy. You are only 10 to 15 minutes from either University Mall or Cordova Mall and from both Sacred Heart & West Florida Hospital.
For your real estate needs please contact me at JackLara@kw.com or visit www.PensacolaAreaProperties.com
Have A GREAT DAY.....and enjoy the Summer
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Helping Home Buyers and Sellers since 1999. Accredited Buyer Representative, Realtor, Broker-Associate, Certified Distressed Property Expert.
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