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Monday, May 04, 2009

What a great weekend in Mexico Beach, Florida!

We have had a gorgeous week and weekend! I did finally have to turn my AC on though because its getting up in the low 80's now!!!

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Just a quick fishing report............the spanish and king mackeral are here! It's been pretty windy and the water is stirred up but you can definitely catch something out there!!!

Snapper season is starting June 1st and is very short this year, so if you plan on chartering a trip, you better book it now!!!
www.charterboat-missmary.com

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The Tranquil Harbor Auction has been the hot topic this weekend! Tranquil Harbor is a 36 unit condo complex on the canal in Mexico Beach. Each unit has a boat slip. They are right on the boat launch and are just one block from the water.

The complex is bank owned with the exception of one individually owned unit-----he paid around $450,000 for his 2 bedroom unit.

The auction company advertised 10 units being sold REGARDLESS OF PRICE.

A 4 bedroom unit sold at $210,000 (+10% buyers premium--which is the auction company's fee).
A 3 bedroom unit sold at $185,000 (+10% buyers premium)
A 2 bedroom unit sold at $175,000 ( + 10%). They offered anyone else one at that price and somebody took that offer. So two 2 bedrooms sold at $175,000
They then auctioned off another 2 bedroom and only got $160,000.

THEY THEN SAID THEY WOULDN'T AUCTION THE REST!!!

They had a clause in their advertisements that they had a right to add or delete units. So, they exercised that option.
They auctioned off 5 of the 10 units and called it quits.

I think all buyers got great deals!!!!!
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As for other real estate business.

Mexico Beach to St. Joe Beach:
Three residential properties put under contract since last Monday.
  • A small mobile home in Mexico Beach, a couple blocks from the beach. Listed at $99,950
  • A good size home in the first block of St. Joe Beach--a REAL fixer upper, listed at $199,900
  • A smaller home in good condition with a beautiful large pool, several blocks back from the beach in St. Joe Beach. Listed at $299,950

This makes 17 residential properties put under contract in the last 35 days!!!

Cape San Blas:

  • One townhouse went under contract listed a $449,900
  • A larger gulf front home sold for $825,000.

This makes 7 properties put under contract on the cape in the last 35 days.


Port St. Joe
  • Three single family homes were put under contract in the last week.
  • One listed at 129,900 (short sale)
  • One listed at $119,000
  • One listed at $159,000 (short sale)
  • A Gulf Front condo under contract listed at $225,000 (bank owned)

This makes 6 residential properties put under contract in the last 35 days.

DEFINITELY A SIGNIFICANT IMPROVEMENT IN THE MARKET!!!!!

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Please don't hesitate to call me with any questions about any real estate in the area!

www.maryblackburn.com

And remember: " The one who kneels to the Lord can stand up to anything."

Mary

850-896-5222

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