The big local news is the Arizona Chemical Plant in Port St. Joe is closing. This will eliminate about 80 jobs. The good news is that a new plant is coming into town! Biomass Gas and Electric is projected to build a facility on the ICW in Port St Joe with an opening date of 2011. The construction of the facility itself will create about 200 jobs and then employ about 25 permanent full time jobs as well as 50-80 related jobs.
We have had a love-hate relationship with Arizona Chemical. It provide a job base, but also emitted a terrible odor. I will be glad to get rid of that smell but I also pray for the families who are losing jobs.
As for real estate:
3 properties were put under contract in the last week.
- 2 bed/2bath newer townhouse about 1 mile from the beach, listed at $119,000
- 3 bed/2 bath home with over 1700 sq feet about 1/2 mile or so from the water , listed at $252,000
- 3 bed/2 bath newer home about 1/4 mile from the water in a new subdivision, listed for $259,000.
Cape San Blas
2 properties put under contract
- 3bed/3bath townhouse in Barrier Dunes (all the way out on the Cape) listed at $220,000
- 3bed/3 bath older home with views of the gulf, listed at $299,000
Port St. Joe
One property was put under contract this past week.
- Brand new home in a new subdivision, listed at $199,000 and is bank owned. This home has had some termite damage and is the only house in this subdivision, which accounts for the low price.
There are a couple of offers being negotiated as we speak.
Interest rates have risen slightly although you can probably still get 5%. Remember, if you are financing a 2nd home, you have to have 20% to put down!
If you are looking to build, what a great time to buy vacant land. The prices have dropped dramatically!!!!! The only problem is that lenders are requiring sometimes as much as 50% down!!!! Many lot owners are now willing to owner finance!
I've blogged about the auction coming up June 6th. Seven properties, 2 being gulf front homes. The most appealing house to me is the little house just a block from the water. It's an older home but well maintained and in a great area. If you want some more information, please don't hesitate to call/email anytime.
I've been working with every kind of buyer from first time home buyers, to first time investors and end users, to experienced investors..........they all agree.......this is the time to buy!
Have a great week. Don't forget to check out my calendar--click on local events---and don't hesitate to call/email with any questions you have about the Mexico Beach area!
Remember..........."Life isn't tied with a bow, but it's still a gift!"