Following the near miss of tropical storm Arlene, the only thing hotter than the water temp in the gulf is the price per linear foot of gulf front property. Here is some useful information and recent developments that impact the market price of a slice of paradise.

BRAC The net loss of 1579 military, civilian, and contractor jobs attributed to NAS PENSACOLA seams to be contributing to the growing volume of residential detached real estate inventory on the west side of Pensacola. This may be the catalyst for the swing from a Seller’s market to a Buyer’s market.  This activity is cyclic and should have little to no impact on luxury/resort properties.

Tropical Forecasts predicting as many as 9 named storms directed at the gulf coast had many investors weary.  Civil preparedness and a general lack of damage from Arlene bolstered confidence among community members and tourists.  

The Building Cap on Perdido Key has been replaced by a new system that promotes concurrency.  Current zoning allows an average of 14 units per acre.  The new system allows approximately 8900 dwellings and 1000 lodging units.  The implementation of this new system should have no short-term impact on property values. For more information on ways to protect your property rights, visit www.perdidopropertyrights.org or call 850-497-1898 to join the Perdido Property Rights group.

Inventory on the Key consists of over 140 active gulf front listings. Last August’s inventory averaged between 60 and 70.  Many buyers are finding it difficult to finance damaged properties.  Cash buyers may find great deals at Sandy Key due to impending assessments.   For more information about property values and availabilities, contact James Burnes at (850) 261-8000 or visit www.JBonTheKey.com  

Great Investments are coming available.  Get in on the ground floor of the latest apartment conversion.  The Reserve Apartments in Gulf Breeze will be released within 60 days.  This is a great opportunity to buy a clean and well maintained rental property.  Existing leases must be honored.

Preconstruction units at Wingate Condominiums are expected to come available as soon as new pricing is established.