Sunday, April 13, 2014
Sunday, March 30, 2014
Emerald Coast Realty - New Report Shows Significant ...
Real Estate Update March 2014
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New Report Shows Continuing Housing Recovery
Dominion Enterprises, has released its January Local Market Index, a price performance summary of repeat sales of U.S. properties. Utilizing home pricing data, the Index shows year-over-year gains for single-family properties in all 300 top U.S. markets.
Traditionally a slower sales month, January home values for all 300 markets tracked gains from 2013 and opened 2014 with higher year-over-year prices. The number of top 100 markets achieving a full recovery remained the same as in December, 29 markets. However, three markets, Salt Lake City, UT, Madison, WI, and Chattanooga, TN, posted significant gains in January and are close to full recovery. This month, out of the 92 markets that achieved a complete rebound of 100 percent or more, 63 are midsize, an increase of three achieving recovery, compared to last month's report.
All of the 200 midsize local markets continued to show gains year over year for the single-family index. For the eighth consecutive month, Anchorage, Alaska and Hilo, Hawaii continue to be the two top-performing markets on a year-over-year basis. Anchorage remains in the top spot, increasing by 16 percent, followed by Hilo with a more than 13 percent increase. The West continues to dominate the midsize markets on a year-over-year basis, with nine of the top 10 markets increasing on an annual basis. 165 midsize markets saw month-over-month increases, down two from last month's report. Midland, TX was the top gaining metro month over month, with a 3.98 index point increase. Markets with strong energy-based economies continue to dominate the midsize markets, with the top 10 of those markets coming from only two states – Louisiana and Texas.
The latest Homes.com Local Market Index reports the following:
• Year-over-year increases in all top 300 markets.
• Monthly increases in 83 of the top 100 markets and in 165 of the 200 midsize markets.
• Los Angeles, California is the top gaining market on a year-over-year basis, with a 26.21 index point or 15.75 percent increase.
• San Diego bested Honolulu, Hawaii as the second highest gaining market with a 24.77 point or 15.75 percent increase
• Honolulu, Hawaii is now the third highest gaining market on a year-over-year basis, with a 24.63 index point gain.
• California markets [San Francisco-Oakland-Fremont, Calif.; Bakersfield-Delano, Calif.] are the remaining two in the top five. Year-over-year, they increased 23.82 and 19.58 index points, respectively, for the top 100.
Highlights from the Homes.com Rebound Report for the top 300 markets show:
• 92 markets have made a 100 percent rebound, indicating a complete recovery. This is an increase from 89 markets in the previous reporting period.
• The most recently fully recovered midsize markets are: Bloomington-Normal, IL (105.01 percent), Appleton, WI (101.13 percent) and Warner Robins, GA (100.71 percent).
• Significant gains toward a full recovery were made in Salt Lake City, UT (99.69 percent), Madison, WI (97.54 percent) and Chattanooga, TN (97.22 percent) as they near 100 percent recovery.
• The percentage of recovered midsize markets is slightly ahead of the top 100 markets. Of the 92 markets achieving more than 100 percent rebound this month, 63 (31.5 percent) are midsize and 29 (29 percent) are top 100.
• The South continues to dominate recovery, with 15 markets seeing rebound percentages greater than 100 percent. The South also saw three new markets enter the 75, 100 percent recovered range.
"All 300 markets tracked by Homes.com's housing market reports consolidated their gains from 2013, opening 2014 with higher year-over-year prices. January is typically slower for the housing market, so it is reassuring to see continued steady improvement across the country," says Brock MacLean, executive vice president of Homes.com. "January's data shows that 83 of the top 100 markets increased on a monthly basis, with 165 of the 300 midsize markets posting gains year over year. With three midsize markets entering recovery and three more local markets nearing full rebound, 2014 should see continued positive recovery nationwide."
To provide insight into local sector housing trends across the country, Homes.com publishes the Local Market Index for the Top 100 markets and the companion Midsize Markets Report for defined areas ranked from 101-300.
As a complement to the Local Market Index, Homes.com publishes an exclusive Rebound Report, highlighting how the housing recovery process is unfolding across the country. It measures each market's peak-to-trough decline in index value, which had been attributed to the bursting of the U.S. housing bubble.
Interest Rates (%)
as of March 21, 2014:
30 yr. Conv: 4.32
15 yr. Conv: 3.32
Pensacola & Destin Property Search
Pensacola Area Featured Listings
Featured Luxury Homes
Fort Walton Beach
Gulf Breeze Pensacola Milton $1,425,000 $89,000 $300,000 Pensacola Destin Condo Pensacola Beach $128,900 $109,000 $410,000
NW Florida Foreclosure Properties
ERA Emerald Coast Realty
Residential foreclosures have been a wild ride in NW Florida. Peaking in 2009, the total number of foreclosures has been decreasing since mid 2010 and the overall number of distressed properties for sale has also been in decline.
If you are looking for properties here in the Destin or Pensacola real estate markets you will find that some areas have few or no foreclosures available. As you can see below, foreclosures are in short supply for Okaloosa Island, Navarre Beach, Gulf Breeze Proper, Pensacola Beach and Perdido Key. Foreclosures in our market area are most likely to be found away from upscale neighborhoods.
So how does price affect the chance of a house being listed for sale as a foreclosure? When you look at available foreclosures by county the numbers vary a little but the average is 7.8%. One thing the over-all averages do not show you is which price segments of the market are most affected. 53% of foreclosed properties selling in our market are listed under $100,000. Properties in this price range make up only 18% of all properties for sale. There is clearly a disproportionate number of foreclosures affecting properties listed under $100,000.
68% of all foreclosures are under $100k
Santa Rosa County:
50% of all foreclosures are under $100k
42% of all foreclosures are under $100k
Another way to look at this is that only 4% of local properties listed over $100,000 are foreclosed properties, while foreclosures make up 22.6% of the properties listed under 100K.
Today's foreclosures are listed at market price. Banks commission an appraisal or hire real estate agents to determine a suitable sale price for the property through a "Broker Price Opinion" prior to foreclosures being listed for sale. The lender knows what the property should sell for in today's market and is getting market value for these homes. As foreclosed and short sale properties decrease, the number of non distressed sales increase.
The best opportunity for buyers in today's real estate market may not be a distressed property at all. Buyers need to start looking at homes that are priced to sell and be prepared to move quickly on these opportunities. This is particularly true for those looking for luxury and beach homes.
Beach Photo Galleries
Ft Walton Bch
This Month's Featured Article:
It's a great market for buyers!
Foreclosures and Short Sales
Current Real Estate Market Conditions for Destin, Pensacola, Perdido Key,
Gulf Breeze and Pensacola Beach, FL
Home Sales Continue to Grow
Click To Enlarge
The sales of Pensacola homes is continuing to grow as seen in the monthly sales on the chart above.
442 residential sales in February 2014 is the highest number of February sales since. February 2007 with 453 sales. This points to continued improvement in the real estate market in Pensacola, Florida.
Fun April Events
Pensacola Beach, FL
Bands On The Beach
Every Tues starting Apr 1, 2014 7-9 pm
Located in the beautiful Gulfside Pavilion overlooking the Gulf of Mexico, this weekly series features regional artists performing a wide variety of music. Bring your lawn chair and join us this summer for hot music, smooth grooves and a whole lot of good times.
Gulf Coast Half Marathon
Apr 13, 2014 7 am
Gulfside Pavillion - Casino Beach
Participants must present a government issued ID to pick up race packet. Proxy Packet Pick-up (picking up a packet for someone else) the process is as follows: a copy of that participants photo ID is required and an acknowledgment of proxy pick-up will need to be signed. This copy will be retained until the completion of the event weekend as proof of packet distribution.
Perdido Key Wine & Art Festival
Mar 4-5, 2014
Arts and crafts, wine tastings! Music by Pat McCann and special featured artist Margaret Biggs. Fri: A VIP event, with music and other entertainment, will be held 5:30 p.m. to 8 p.m. | $25 each or $45 per couple. Sat: food and live music; $15 you will receive a souvenir glass & tickets to taste five wines, 12 - 8 p.m.
Interstate Mullet Toss
Apr 25-27, 2014
This wacky annual tournament has participants compete in an actual mullet toss. Live music, food and drinks accompany this weekend. A Mullet Toss consists of individuals on the beach throwing a mullet, from a 10-foot circle in Alabama across the state line into Florida. lots of fun activities, great music and food! 850-492-0611
Friday, March 28, 2014
We continue to monitor the situation to our west. Widespread and organized severe weather is ongoing across the Lower Mississippi Valley. Severe thunderstorm, outlined in blue, and tornado, outlined in red, watches have been issued as far east as the the Mississippi/Alabama state line. Numerous severe weather warnings are in effect across the region and the Florida Panhandle will be undergoing more Severe Weather in the next 24 hours.
Thursday, March 13, 2014
ParsCo, the authorized Varco Pruden Builder of Escambia, Santa Rosa, Okaloosa, Walton, Bay County-FL & Baldwin, Mobile County-AL
Photo caption: Amir Michael Fooladi and Steve Deaton - experts in PEMB along the Gulf Coast.
Monday, March 10, 2014
ParsCo is proud to announce another successful project completed nearly 3 weeks ahead of schedule. This LEED sensitive Science and Technology Academy was based on a “free flow”, hands-on, collegiate style learning environment.
The $30 million dollar facility was designed with flexibility in mind, maximizing opportunities for students to work together on group projects, and interact with professional staff.
Sustainable measures consisted of minimizing rain water run-off, energy usage savings, and labor intensive maintenance. The Architecture team of Perez. And Verges/Rome created the “high tech school” concept.
55 South A Street
P.O. Box 12862
Pensacola, FL 32591
Visit us on the web at www.parscoconstruction.com
Sunday, March 2, 2014
ParsCo Pre-Engineered Metal Buildings- Pensacola, Navarre, Ft. Walton Beach, Destin, Panama City, Milton/Pace- FL; Mobile- AL; Baldwin County - AL
- Agricultural facilities
- Auto dealerships
- Houses of worship
- Office complexes
- Public buildings
- Retail stores
Saturday, February 15, 2014
ParsCo Construction (Pensacola, FL) prides itself in having extensive experience in completing massive structural concrete projects and high-rise construction. ParsCo knows the blueprint for the successful execution of a project is as important as the blueprint for the project itself. That's why we develop accurate construction plans, as well as efficient, thorough, complete, and cost-saving construction management methods. All of which are extremely critical when preparing for a world record concrete pour.
ParsCo recently reviewed and evaluated the first high-rise project in Los Angeles in more than 20 years, which will include a foundation system that is expected to break the Guiness Book of World Record’s largest concrete pour in the world. The Wilshire Grand project is a 73 story project that will include offices, retail, and hotel rooms and is expected to be completed in 2017. Turner Construction is the General Contractor, and in conjunction with Los Angeles based architecture firm AC Martin and Engineering firm Brandow and Johnston, completing a continuous pour to complete the concrete foundation was considered the most economical way to do the project.
So just how massive is this concrete foundation? The total concrete pour volume is estimated at 21,200 Cubic Yards (CY). CalPortland, the concrete supplier, is expected to utilize 208 concrete trucks to each make 10 deliveries from one of nine batch plants. Turner will mobilize 19 pumps which will dispense the concrete through 13 different hoses into the pit. The entire pour process is expected to take 30 hours. The pit is reinforced with nearly 7 million pounds of reinforcing steel and the total estimated weight of the concrete will be 84 million pounds.
So how large exactly is the foundation and the building? The pit is estimated to be 18 feet deep and nearly two-thirds the area of a football field. The project will be the tallest high-rise west of the Mississippi River.
1 ParsCo Construction High-Rise
One major task in being able to complete a concrete pour of this magnitude was to develop a system that would cool the concrete heat of hydration (exothermic reactions) enough for it solidify. This was accomplished by installing nearly 19 miles of plastic tubing throughout the foundation to pump refrigerants through the mass for a period of 2 weeks.
This project is no small task, and careful review and evaluation was required to plan this activity. Because of the magnitude and costs involved, the main topics of consideration that required planning with back-up contingency plans were:
1) Sourcing materials – concrete batch plants within 20 miles of site – 8 to be used with one backup
2) Access from batch plants to site – concrete needs to be placed within 90 minutes of being batched
3) Pump trucks – having on-site 18 trucks with one backup
4) Cooling system to achieve proper strength of materials
5) Design considerations and how to make project a reality utilizing real-world means/methods available to construction crews today
For more information on how to involve ParsCo in planning, reviewing, and building your next construction project, call us at 850-696-7656 or firstname.lastname@example.org.
Visit us on the web at www.parscoconstruction.com