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Monday, October 12, 2009

Mexico Beach Fl real estate update

It is supposed to cool down a little this week with high's only in the 80's. I think it's a little warmer than normal in October this year! I just checked and the average in October has been in the mid 60's so we are definitely a lot warmer this year. We are all ready for some cooler weather. I'm ready to turn off that AC and open up the windows!!!!
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The Auction at West End Harbor was Saturday. Great attendance---43 registered bidders, although there were only a handful of actual bidders. There were a lot of registered bidders ready to bid in case the prices got really low!

Amazingly, the one bedroom units went for a pretty penny. Above what I was predicting!
The 1st one bedroom unit, 1,093 sq ft, went absolute at $172,500 + 10% buyers premium bringing it up to $189,750!!!!
The 2nd one bedroom, absolute, went for $167,500 + 10% = $184,250.
The 3rd one bedroom, not absolute, and being sold furnished went for $180K+ 10% = $198,000.

I'm a little surprised they went that high!

The two bedroom unit, being sold absolute, almost 1800 sq ft, sold for $200,000+10%= 220,000.

Another two bedroom that had a boat lift included, sold for $217,500+10% = $239,250.
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The premium unit, the 3 bedroom with over 2300 sq ft, did NOT SELL. The high bid was $270,000 and the seller would not take that amount. I heard he was wanting $500,000.
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If you are interested in a canal front condo---there are others that are available at very comparable (and even lower) prices than those above!!!!!
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The Art and Wine Festival is this Saturday. It is ALWAYS a good time. Great art, good food, good wine, fun auction and YOU CAN'T BEAT THE SCENERY! It's right on the beach at the Driftwood Inn.
http://http://www.mexicobeach.com/cdc/events.cfm
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From what we are hearing from the banking industry, interest rates are going to be going up.
Hopefully very slowly, but who knows!
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There is another auction November 7th in Mexico Beach. A gulf front + 1st tier lot and a duplex beach side. I believe you will be able to get these at great deals. Neither are being sold absolute. If you are are interested and want more information, just send me an email or give me a call and send you some detailed info!!!
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Have a great week and remember: If a dog was the teacher you would learn things like: When loved ones come home, always run to greet them, Allow the experience of fresh air and the wind in your face to be pure Ecstasy, Be loyal, Never pretend to be something you're not, When someone is having a bad day, be silent, sit close by, and nuzzle them gently.

Don't hesitate to call me if you have ANY questions about buying or selling real estate!

Mary
850-896-5222
www.maryblackburn.com
Sundance Realty

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