The Mortgage Man

Get more out of your mortgage experience!

Archive for Perdido Key

Perdido Key Condo Deals – LaRiva

LaRiva is a rent restricted building with some of the finest ammenities on the Key.  Call about financing and get pre-approved before this one gets away.

Steve Russell



Island Real Estate – Ono Island Alabama

Island Real Estate – Ono Island Alabama

Ono Island Alabama

Ono Island Alabama

When most people think of Island Real Estate or Island Vacations, they don’t think of Alabama.  There is, however, a hidden gem on the gulf coast of Alabama called Ono Island.  This unique paradise is nestled between Perdido Key Florida on the south and main land Alabama on the north.  Even though it is less than 40 minutes from Pensacola, and less than an hour from Mobile, Alabama, you will feel like you have moved to a secluded caribean island when you are there.

With a contrast of older original beach homes, and newer super mansions, this island has an eclectic mix of arcitecture.  What many locals may not even know is that Ono Island is world renowed as one of the best fishing spots for speckled trout.  Hidden under the illuminated docks of the private residences around the island, the speckled trout makes for good eating, and a whole lot of fun to catch.

If you would like to learn more about how you can buy your slice of a private paradise, go to and find out what your options are today.

Perdido Key Condo Deals – Purple Parrot

Purple Parrot Village Resort in Perdido Key gives you the feeling you have just stepped onto a carribean island.  With its unique cottage style bungalos and huge lagoon style pool, it is hard to believe that you can get a piece of this paradise for little more than $100,000.

Lagoon style pool at Purple Parrot

With the rise in foreclosure rates, and a sluggish economy, vacation properties such as Purple Parrot have had challenges recently.  The good news is that because of this, a unique buyers opportunity has been created where you can own one of these island living gems for half of what they were selling for just 3 years ago.

Tropical cottage at Purple Parrot

You can find several of them listed as preforeclosure short sales at  If you are in the market for an investment property within walking distance to the beach, this is possibly the best deal available on the key right now.

For a local real estate professional specializing in beach properties on Perdido Key, go to

Perdido Key Condo Market

Perdido Key Condos Seeing More Activity

Perdido Key Condo

The condo market on Perdido Key Florida has been hit hard by the recent woes in the economy. What was once a sizzling hot investment and vacation market slowed down considerably in the last year and a half or so. But there are signs of life again.

One of the sure tests of the health of a vacation community is the “grocery store test”. During a holiday weekend or spring break you don’t have to know the exact statistics of the rental market to know what is actually going on. You may not be tuned into all the real estate companies and rental managers, but you can take a trip to the local grocery store around 12:00 and get a good idea of how the market is doing.

If the majority of people shopping are wearing bathing suits and desperately looking for aloe, you can tell that the vacationers are here. To take it a step further, look at the shelves. If the normal vacation staples of beer, frozen pizza, sun block, and aloe are virtually wiped out then you know that things are going well.

Another indicator is to drive by the condos and take a look at the parking lot. If the lot is full, there are a lot of people here having a good time on the beach.

Now, I realize this is a very simple set of things to look for. But the significance lies in the fact that it has not been this busy in a while. Vacationers spend money, and that is a great boost to the local economy. In addition, many vacationers don’t realize how good the prices are on the beach until they come down here and take a look for themselves. This stimulates showings on properties, and showings stimulate sales.

We are in no way seeing a boomtown again like it was 3 years ago. But with prices going down, and interest rate staying down, the buyers are once again becoming interested in buying a slice of paradise. If Spring Break is an indication of what the summer will look like, we may see a significant increase in activity.