Pat & Pam Troxel

2012-02-08T10:14:00.000-08:00

DECEMBER 2011

There's no way to be certain what 2012 will bring. However, a few things doseem clear enough to make some assessments. First, 2011 was not the recoveryyear it was expected to be. It was yet another "transition year" for most.Second, multi-decade low mortgage rates and suppressed home prices coalesced toform an attractive purchase environment. And buyers did just what their nameimplies - they bought. This has driven down inventory levels in many locales,which - thirdly - nudged the market balance toward equilibrium. Here's how thefinal month of 2011 concluded the year.

New listings were down 20.0 percent for detached homes and 47.6 percent forattached properties. Pending Sales increased 45.8 percent for single-familyhomes but decreased 18.2 percent for townhouse-condo properties.

The Median Sales Price was up 9.5 percent to $194,950 for detached homes and142.3 percent to $375,000 for attached properties. Month Supply of Inventorydecreased 66.5 percent for single-family units and 60.1 percent fortownhouse-condo units.

Ultimately, the upcoming spring market should be a major tell about the futuredirection of housing. Sellers are seeing multiple-offer situations; buyers areseeing sub 4.0 percent loans; supply-demand trends are more balanced. When itgets down to it, that's a stable foundation and a far cry from 2009. While thefundamentals are better, the foreclosure situation and political unknownsremain wild cards. For now, enjoy the fresh canvas.

QUICK FACTS

+ 1.4% from 2010 in Closed Sales
- 58.3% from 2010 in Homes for Sale (Inventory)
+ 14.0% from 2010 in Median Sales Price

(all data courtesy of Amelia Island-Nassau County Association of Realtors)

COLDWELL BANKER THE AMELIA GROUP

2011 proved as successful and again we finished first in both listing and salesfor the entire MLS with a total of $68 million in closed sales and 15.6% of themarket. Currently, as an office, we have over $104 million in listed propertywhich is far and above any other real estate office in MLS.

On the Amelia Island Plantation, the group closed over $17.5 million in realestate in 2011 and over $16 million in 2010. Currently, the group has justunder $32 million of listed real estate on AIP, alone.

Consistently, COLDWELL BANKER, The Amelia Group ranks in the top 20 of allsimilarly sized offices over the entire United States and the top 5 in thestate of Florida.
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Spotlight Listings

6 Marsh Creek $1,749,000

This incredible golf view residence on gated Amelia Island Plantation isunsurpassed in quality and top-flight features. Designed by local architectJohn Cotner, this four bedroom, 5 and half bath home offers spacious rooms, 10,12 and 14 foot ceilings, heavy molding and trimwork, great room with custombuilt-ins, two fireplaces, library with abundant built ins, chef’s kitchen withlarge island, granite counters, top of the line appliances, walk-in pantry andbanquette seating. Of special note, the kitchen offers warming drawer, beveragerefrigerator, double ovens and water pedal for hands free faucet control. Thefirst floor master has fantastic golf views and offers stunning spa-likeretreat bath with Grohe spa heads, spa tub and granite topped vanity. Allbedrooms have en suite baths with granite vanity and tile bath/shower. Thelarge bonus room over the 3 car garage is delightfully hidden behind abookcase. The other “secret” to this custom jewel? A 13x49 foot toy garage fitfor the RV or car enthusiast.

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11 Sound Point Court $1,200,000

Southern charmer on Long Point at Amelia Island Plantation. Surrounded by lushlandscaping, live oaks and magnolias, this low-country marsh and river viewhome is the epitome of southern elegance. Situated on three levels – all withelevator access – this three bedroom, four and a half bath home offers heartpine floors, generously sized rooms, high ceilings and 10” base & heavy crownmoldings. Framed by twin staircases, the entry opens on the second level withfeatures a sitting area and three bedrooms. Master suite has his and hersbaths and closets and access to screened porch which runs length of the home.Top level is open & bright with spacious living & dining space, has stunningmarsh/ICW views, well thought out kitchen with island veggie sink, access toporch for grilling and a sunny office.

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RECENT PRICE REDUCTIONS
28 Long Point Drive $995,000 Golf View 4BR/4.5BA
22 Long Point Drive $1,120,000 Golf Views 3BR/4.5BA

To view these featured properties and all of our other listings, please visitour website at [2]www.TroxelTeam.com. For more information or to view theseproperties, please give us a call at 904.556.3228.

Gorgeous new aerial tour of Amelia Island!

2011-07-21T10:43:00.000-07:00

Enjoy this beautifully shot 10 minute tour of Amelia Island and please share with your friends.

2011-02-23T08:39:00.000-08:00

AMELIA Island is the place to be this spring! Not only are we an island of many flags, we are also an island of many festivals. The 2011 Festival Schedule is listed below along with their websites.

We are enjoying glorious weather and increased activity in the real estate market - Life is Good!

Market Update

The market for vacation homes, based on local sales data, appears to be improving. The comeback has been helped by the gains in the stock market and an improving economy, which have made wealthier Americans more upbeat about the future. Still, in most markets where demand has improved, prices haven't and it's too soon to break out the champagne. Prices are down over 32-40% since 2006. Buyers are looking for deals and are buying at the very low end of the product. Financing is still difficult especially for condominiums. Most banks are requiring 25%+ down and crystal clean credit.

There are qualified buyers in the market, but they are slow to make offers. Many of these buyers have cash and/or approval for a loan, but they are afraid they will lose money on their purchase. Many of these buyers will wait until they see prices rising before making an offer. Unfortunately, most will wait too long and find themselves chasing less favorable, more expensive market. The savvy buyers are the ones we are seeing re-enter the market today. For buyers who can pay cash or who qualify for loans, it's time to get back in the game.

Opportunities abound; home prices are low, mortgage rates are low, and the economy is recovering. It's good that the economy is improving; bad in that the best deals are fading away. Time is the key factor to focus on; real estate isn't about flipping. It's about getting in at a low-base price, financing at a low interest rate and holding for a reasonable amount of time. If we practice these fundamentals, positive cash flow is easier to generate(for investors) and price appreciation will likely be realized when it comes time to sell.

We are very optimistic about the future for real estate on Amelia Island. Real Estate still works. Let's focus on the opportunities this market has created!

Hope to see you this spring.

Pat & Pam

2001 Festival Schedule

• Amelia Island Film Festival Feb. 24-27
www.ameliaislandfilmfestival.com

• Concours d'Elegance March 11-13
www.ameliaconcours.org

• Old Town Bicentennial April 2
www.oldtownfernandina.org

• Isle of Eight Flags Shrimp Festival April 29-May 1
www.shrimpfestival.com

• Wild Amelia Nature Festival May 20-22
www.wildamelia.com

• Amelia Island Chamber Music Festival, May 20-June 17
www.aicmf.com

• Stars and Stripes Freedom Festival, July 4
www.shineybadges.com

• Amelia Island Blues Festival Sept 16-17
www.ameliaislandbluesfest.com

• Amelia Island Jazz Festival, Oct 2-9
www.ameliaislandjazzfestival.com

• Amelia Island Autumn Fine Arts Festival, Oct 8-9
www.islandart.org

Pat and Pam Troxel
Coldwell Banker, The Amelia Group
311 Centre Street
Fernandina Beach, Florida 32034

904-556-3228

904-556-1258

pdtroxel@msn.com (Pam)

phtroxel@msn.com (Pat)

2011-01-03T08:20:00.000-08:00

2011

THOUGHTS FOR THE NEW YEAR

Hint: it's going to be a great one!

We want to take this opportunity to wish you all the best for the New Year! We appreciate your business and referrals and look forward to being of service to you in 2011.

We feel the economy should continue on a slowly improving path in 2011. Interest rates remain low, and there are plenty of real estate opportunities. These great values and low rates won't last forever. Interest rates have increased within the past 45 days. According to many economists and based on the supply and demand principal, the housing market will improve over the coming months, and with that improvement interest rates will rise.

In 2010 real estate sales in Nassau County were up 11% over 2009. This exceeds the national average of an 8% growth according to the National Association of Realtors. The largest and most surprising increase has been in the condo market which is up a whopping 107% over last year! We expect these trends to continue. Nearly 50% of these overall sales in 2010 were distressed sales(short sales/foreclosures/bank owned).

There is always some degree of uncertainty in the market. Many of us have not recovered emotionally from the financial crisis, even though some of our investments have rebounded. While sitting on the sidelines may seem safer, we may miss once-in-a-lifetime opportunities.

All the best in 2011!

Pat and Pam

Market Update Fall 2010

2010-09-29T12:58:00.000-07:00

As we approach Fall, bringing cooler weather and our winter residents, it's a great time to reflect on where the market has been over the last six months. Certainly, activity has seemed busier over the same period last year, but it isn't clear until you look at the numbers. The market is improving in all areas, albeit slowly.

Over the last six months of 2010 (March 1- September 29), there were 397 sales in Amelia Island/Fernandina Beach/Yulee which is an 19% increase over the same period in 2009 (334 sales).

Out of those 397 sales this year, 13% or 50 were properties over $500,000 which, again, is an increase over last year's 34 units or 10% of sales.

With more higher-end properties selling, it's no surprise that the average sale price rose to $288,056 over last year's $272,811. And, the average days on market has decreased, meaning those homes sold this year sold in an average of 155 days versus 165 days in 2009.

Overall, very positive news for our local real estate market, although inventory remains very high and currently, there are 1458 active listings which translates to a 22 month supply of product.

We both feel that these positive trends will continue through the remainder of 2010.

Amelia Island Plantation News

On September 17, 2010, Omni Hotels closed on Amelia Island Plantation after submitting an acceptable and binding bid of $67.1 million in August to the U.S. Bankruptcy Court for the Middle District of Florida.

Omni plans to expand the rooms by 125 to the resorts 249-room Amelia Inn and to expand its 50,000 square feet of meeting space by 30%.

The Amelia Island Club is now separate from Omni Amelia Island Plantation and operates as an equity club which leases to own (and operate) core club amenities such as Long Point Golf Course, Long Point Clubhouse, Golf Academy, the Ocean Clubhouse, including the pools, the Sea Oats Restaurant and the Sandpiper Restaurant.

Members will also have access to certain properties owned by the Resort such as Racquet Park Tennis & Fitness Center, the Beach Club, Ocean Links Golf Course and Oak Marsh Golf Course.

The Amelia Island Club has also opened up membership outside the gates of the Plantation to the south end of the island bounded by Bill Melton (street) on the east and Via Del Mar on the west.

Anyone interested in membership should act within 90 days of September 17, 2010 to enjoy significant price reductions. During the 90 day marketing period, a Golf Membership is $30,000 and Social Membership is $20,000. After the 90 days, membership will be $50,000 and $30,000, respectively.

For a full matrix of dues, fees and charges, please give us a call.

Best,

Pat & Pam

2010-06-28T12:24:00.000-07:00

6 Salt Marsh Drive $975,000

Tremendous value located in prestigious Long Point on Amelia Island Plantation. The beautifully kept and spacious home features three bedrooms, three and a half baths on the main level and one bedroom and one bath upstairs and has 3,190 heated and cooled square feet. The living areas are large and open and the Florida room overlooks the deck and gorgeous, private backyard. The kitchen offers abundant cabinetry and workspace and is open to the Florida room and sunny breakfast room. Most of the flooring in this home is hardwoods and it's the perfect home for large gatherings and entertaining. Just a short walk to the Long Point club house and the beach.

View Virtual Tour!

2010-06-04T10:28:00.000-07:00

Summer
June 1, 2010

Things Have Changed.
The real estate industry has changed. As in any industry, such change creates a separation of those who participate. While many who jumped in when things were good have faded away, the best producers have risen to the top of the industry. In Nassau County, these top producers are now at COLDWELL BANKER, THE AMELIA GROUP.

We are proud to be partnering with five other top producing real estate professionals to form COLDWELL BANKER, THE AMELIA GROUP. Each of the six principals of COLDWELL BANKER, THE AMELIA GROUP is an experienced Realtor offering unparalleled service with proven results. As a group, we feel we will create a powerful dynamic for success in a recovering real estate market.

For you, our valued clients and customers, this change will create more opportunities for you. As a seller, you will be assured of top flight representation and service for your property. Calls and inquiries about your property will be handled by knowledgeable, effective professionals. As a buyer you will assured of best-in-class representation, drawing from decades of local market experience within the Group.

We are very excited about COLDWELL BANKER, THE AMELIA GROUP. Change is good!!

Pam & Pat Troxel

Update for The Landings

2010-02-16T10:25:00.000-08:00

The Landings on Amelia River
UPDATE

We want to update you on the progress of this spectacular development on Amelia Island.

Out of the original 8 bank-owned units, TWO are under contract and there is an offer on a third unit. If that unit goes under contract, there will be 5 units available. The remaining 5 units will be offered at list prices of $939,000 to $999,000 depending upon location and views.

The bank is offering very competitive financing to qualified buyers and will consider interim (bridge) financing to buyers.

Construction on Building 3 is moving ahead and exterior work is almost complete. Units in Building 3 are priced significantly higher.

We continue to be very excited about The Landings on Amelia River and encourage you to take advantage of this phenomenal opportunity while it lasts.

Please give me a call at 904-556-3228 with any questions or to reserve a unit.

Pat Troxel