Our weather has been absolutely gorgeous over the past week though. Cool in the mornings and at night and warming up beautifully in the middle of the day. I love this weather! I love having my doors and windows open!
The grass has just about stopped growing! Yahoo! Mowing twice a week is over!!!
On the real estate front for Mexico Beach:
Closings for the week of 10-19
Not a lot of closings, it has definitely slowed down. Which is typical. NOT DEAD! We still have lots of buyers-----they are all about the price!!
It cracks me up when Realtors say "this property sold for $900,000 in the height of the market". My response is "who cares!" The height of the market was in 2005. We may never reach that peak again, certainly not for many years!!!!
We are still all over the place in listing prices. Please don't blame that totally on the Realtor. We are hired by the seller, we have to do what they tell us.
The properties that are reasonably priced are selling. Gulf view being the most preferred!!!!!!
Buyers are starting, (finally) to look at vacant lots again! I've put a couple of them under contract just in the last few days. There are some great lots on the market--starting at $150,000 for BEACH SIDE! $65,000 for a lot about 1/2 mile to the beach, easy golf cart ride, not in a subdivision so no HOA fees or Covenants and restrictions. $42,000 for lots in a subdivision, maybe 1/4 mile to the beach!
Construction costs are down. System built homes are REALLY affordable. So you could have a brand new, custom built home for just about the price you pay for an older home now.
Now, I completely understand why someone would NOT want to build. That thought overwhelms me. Way too many decisions for me, I'm the person who wants a house already constructed--just let me move in now!!!
Insurance is always a big question for buyers. Many people who are not from this area have heard that you can't get insurance or it is extremely expensive.
This is neither the case in Mexico Beach to St. Joe Beach.
As an example: 1800 sq ft house with gulf view, built in 2004---$1800/year. Now that house has hurricane impact windows which helps alot.
It is the windstorm policy that is the most expensive part of the insurance here. There are things you can do to lower that cost for older homes.
- Storm shutters: many products available. Hurricane netting, window film, plywood, metal shutters......
- Hurricane clips on the roofing system
- Security system
- Metal roof
- Hurricane impact glass
Let me know if you'd like more information.
Flood insurance.........Amazingly not all property in Florida is in a designated flood zone!!
X flood zone is outside of the 500 year flood plain---mortgagors will not require flood insurance.
If you want flood insurance you certainly can get it no matter what flood zone you are in. It is not outrageous at all---and the policies are transferrable to new buyers.For an example: A house with dedicated gulf view, just steps from the water is in an X flood zone and they pay less than $500/year.
There are areas, especially out on Cape San Blas, where all insurance bets are off! The Cape is a somewhat narrow peninsula sticking right out into the gulf. This area is in a completely different insurance zone.
If you want more information about Cape insurance, just let me know!!!
There are some good deals out there. Remember, you don't know what a seller will take unless you TRY!!!! Your Realtor can give you comps so you know what the market value is!!!
Here are some properties that I think are either listed at good prices and are probably still negotiable, or I know they are negotiable to a good price!!!
Possible good deals!!!
Have a great week, Don't hesitate to call me with any questions.
Check out my calendar, I just posted the events for November!!!
And remember: Don't tell God how big your Storm is....tell the storm how big your God is!