March 26, 2021 at 11:23am | Jack Lara
I just checked (March 24th) the Pensacola Association of Realtors Multiple Listing Service to check on the real estate market. Here is a quick look at what I found.

Escambia County Florida

  • 297 houses for sale.
  • 1,181 houses under contract.
  • 38 townhouses (residential attached) for sale.
  • 114 townhouses under contract.
  • 80 condos for sale.
  • 105 condos under contract
Santa Rosa County Florida

  • 173 houses for sale.
  • 927 houses under contract.
  • 3 townhouses for sale.
  • 9 townhouses under contract.
  • 6 condos for sale.
  • 14 condos under contract.
Interest rates are now just above 3%

I checked in with a mortgage broker yesterday about interest rates. Here is what I found out.

  • VA rate 3.25%
  • FHA rate 3.125%
  • Conventional loan 3.375% with a 20% down payment
  • Conventional loan 3.625% with a 5% down payment
Before we all panic about the rates going up we should keep in mind that we are still at extremely low interest rates.  Let us take a look at yesteryear.

The year I got into the real estate profession, 1999. Yes I am old.

Lets look at the 30 Year Fix Rate for the years 1999, 2000 and 2010

1999 January Rate 6.89%
1999 December Rate 7.991%

2000 January Rate 8.371%
2000 December Rate 7.569%

2010 January Rate 5.485%
2010 December Rate 5.058%

What does it mean in dollars? For every $1,000 financed in December 1999 the payment was $7.33 so a $100,000 loan had a principal and interest payment of $733.14. And as of yesterday using the highest rate, 3.625% the $100,000 loan would create a principal and interest payment of $456.05.

To reach that same $733.14 payment of December 1999 using a rate of 3.625 it would take a loan amount of $160,800 to have a payment of $733.

One last bit of information. Professional photography will ensure that a home seller will get the most equity from the sale of their home.

This is Jack Lara, Broker-Associate with Better Homes and Gardens Real Estate, Main Street Properties in Pensacola Florida.  If you have any questions about the real estate market or could use my service to either buy, sell or invest give me a call.  Call me at (850) 616-6377 or drop me an email at



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