Do Foreclosures Set Market Values?

NO! Foreclosures do not set the market value for surrounding homes. The value of a home is determined by the sale of silimar homes in the past six months; not a foreclosure! Click on the title of this blogg to read the rest. NW FL Home Values

I recently had a potential buyer tell me the house down the street sold for thousands less so the listing I represent should sell for a lot less. Excuse me, the house down the street was a foreclosure. Some lucky buyer made out like a bandit on a beautiful home because an investor jumped into the resell market too late to take advantage of rising prices several years ago. That does not mean the value of the home is less, it means payments were not made on the original mortgage and the lender is recooping as much of their loss as possible.

There are a few cases where a home owner has lost his/her income. (I feel sorry for those guys and do what I can as a Realtor to assist them in selling their home before foreclosure) BUT! I have found that in most cases a foreclosure is caused by a bad business decision on the part of lenders who do not fully (deliberately??) explain future payments and buyers who make a decision to take a mortgage without making sure they understood the fine print.

So, if you are wondering if your home is worth less because the one next door foreclosed, don’t loose any sleep over it.

Comments (0) | Permalink | Retirement, Real Estate, Lifestyle, CityBlog, Chamber of Commerce | Flag as offensive

Loading Form....

(No Ratings Yet)

 Loading ...

Gulf Breeze, Pensacola, Navarre. Florida is Affordable!

My day is always started with the daily newspaper, in print and online. I enjoy the editorials, some make me think, some make me mad, and some just give me a good laugh. One of today’s editorials prompts this blog. Another Realtor earned some free advertising (I plan to write my on letter to the editor) with comments about a new development scheduled for Pensacola, stating we already have too many homes on the market. I am sure the article about a new development in Pensacola for being designed especially for our hardworking service providers like police and firemen with ”affordable”‘ homes (250+ Priced $125,000-$150,000??) to be built made a lot of deserving, hard working, people smile; but, I also bet it made a lot of jaws drop, especially those of us who depend on the housing market for our livelihood and know there are literally hundreds of very affordable homes available. To be fair, the new development came about because there was no affordable housing after Hurricane Ivan. Back then, Pensacola really did need affordable homes. Back then, the cost to build was way up with sub contractors in demand (driving labor costs higher than I have ever seen here) and material costs skyrocketing. Back then, ‘affordable’ homes would have filled a much-needed niche. That was then, this is now. Just goes to show you how long it takes for the wheels of progress to get moving.

Today there is an over abundance of affordable homes available in Pensacola, Gulf Breeze, Navarre. Many New Homes! I represent one of the areas most respected builders, Coogle Homes LLC. Coogle offers affordable new homes and has been building homes in NW Florida since 1985. Right now, Coogle is offering buyers eight different floor plans, priced from $142,900-$161,900 (which includes the land) in Gulf Breeze. I have been serving this area as a Realtor for almost 15 years and there is only one thing our local governments can do to assist in housing: “Put a moratorium on new housing developments” and allow homes on the market an opportunity to sell. Other areas have done this and it boosted the housing economy, helping all who depend on it.

Our local economy can only handle what buyers are willing to pay and qualified to purchase. I am glad to see Lenders sticking to strict lending policies (as they should have been all along). I am also beginning to see savvy Sellers allowing we experienced Realtors to price listings at market value instead of wasting everyone’s time and money hoping for some dummy to come in and pay more than a home will appraise for. Buyers also need to accept that a great deal is market value.

Julia Braddy, Realtor, Sales Marketing in Gulf Breeze www.GulfBreezeHomes.com
Direct: 850.916.7833 Email: julia.braddy@gmail.com
Marketing & Representing www.CoogleHomes.com in Northwest Florida
Reseller for innovative advertising www.TextMyMLS.com throughout the Florida Panhandle

Comments (0) | Permalink | Retirement, Real Estate, General, CityBlog, Chamber of Commerce | Flag as offensive

Loading Form....

(No Ratings Yet)

 Loading ...

A Beautiful Easter Weekend in Gulf Breeze, FL

It was a beautiful Easter weekend in Gulf Breeze, FL with all kinds of activities for everyone. Sunrise service on the Gulf was amazing. (You may view photos on the Pensacola News Journal site) I took loads of photos of the beautiful arts at the 14th Annual Appreciation of the Arts Show in Gulf Breeze and my camera did not cooperate! I do apologize to all the artists who allowed me to take photos and will be placing links to your online galleries through my website sometime this week. Every year, the art shows in the Pensacola area get better and better.

For those of you wondering about the cost of insurance, we have just had to change policies on two of our rental properties and it was not difficult nor expensive. Come see our beautiful area and experience the beauty and all the wonderful things to do. Thinking about buying? Visit my web site www.gulfbreezehomes.com, click on property alerts, and receive constant updates directly from the Pensacola MLS. When you are ready to purchase, I will assist you with insurance quotes and you will be surprised!

Comments (0) | Permalink | Retirement, General, Chamber of Commerce | Flag as offensive

Loading Form....

(No Ratings Yet)

 Loading ...

NW Florida is a Great Place to Live

Comments (0) | Permalink | Retirement, Real Estate, Lifestyle, CityBlog, Chamber of Commerce | Flag as offensive

Loading Form....

(No Ratings Yet)

 Loading ...