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Monday, June 15, 2009

Living the dream in Mexico Beach, Fl

Well, its getting pretty hot in the middle of the day, I must admit! But this is why we moved here, right? I'm not complaining, its gorgeous! One can not complain when they look out their window and see white sand and blue water everyday!!!!

Fishing report:
Chip's been doing great! He fished all weekend and everybody had a great time. He's got the next 8 days booked solid. Snappers, kings, spanish, even a dolphin and grouper yesterday!
Check out his website if you are interested!

On the real estate front lines:
There have been several deals falling through because of low appraisals!!! Buyers were willing to pay a price (wouldn't that be called market value?) but the appraisals came in much lower! Sheesh, if we aren't battling one obstacle we are battling another!

Another reason, why pricing is so important when listing your home!

In Mexico Beach we have 19 residential properties under contract. Of those, only 3-4 sellers are making any money --- Of course these are the sellers who bought their property quite a few years ago!

If you are a seller and making a good amount of profit from your home, consider yourself very fortunate!!!!

We've had a pretty active market in the last couple of months, however, with the tighter lending regulations, low appraisals, and now interest rates on the rise, we may experience a slow down.

If you are a seller, and you get an offer, its best to work it out and make it work, for it may be the last good offer you get!!!!
We are going to be in a buyer's market for a while!!

Nice homes that are in the $200-$250,000 range are just about gone. We still have a lot in that price range and several that are under $200K, but only a couple are move in ready! If you are not opposed to some sweat equity, let me know and I'll send you some "fixer-uppers".

This is the time of year when buyers are looking for townhouses beach side. These are starting at $220,000 for 2 bedrooms! While most of these won't cash flow, you might be able to get it to pay for 50-70% of the carrying costs! Remember, you are buying at the bottom of the market, if you can get 50% of your carrying costs back and then use the property and enjoy it, in 7-10 years you'll see a good appreciation! Sounds like a sound investment to me!

Another type of property that is getting a lot of action are those with unobstructed gulf view. I've talked before about "unusual" properties having more value. There are very few homes that are pretty much guaranteed unobstructed water view forever---where no one can build in front of you----these properties are definitely "unusual", "limited", and COVETED!
They, therefore, command higher prices (starting at $599,000) but, of course, retain their value more, as well.
They, to me, are better than gulf front-----less worry, less insurance, less maintenance, more privacy..............steps to the water and coffee on the veranda overlooking the water.....duh!
There are a few on the market right now, let me know if you are interested and I'll send them to you to review!

Fourth of July is rapidly approaching. We always have a great fireworks show. Can it get any better than sitting on the beach at dark with friends and family and watching fireworks?????

Have a fantastic week and don't hesitate to call/email me if you have any questions about buying or selling in Mexico Beach, St. Joe Beach, Port St. Joe, Cape San Blas, Windmark Beach!

Please don't forget to keep our soldiers, and our country in your prayers. My prayer for everybody is Ephesians 3:14-21!

Have a blessed week.
Sundance Realty

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