I'm sorry I'm blogging on Wednesday---It has been a super busy weekend and week and I am just now able to concentrate on blogging! There is a lot to talk about!
First, let's talk fishing!
The National Marine Fisheries is trying to shorten the season on oysters to 3 months and snappers to one month....They are tightening restrictions on basically all recreational fishing. This will have a devastating effect on those who make a living fishing, but the trickle down effect to restaurants, hotels, boating industry, coastal towns, seafood markets, etc, will put thousands and thousands out of jobs. AND, there is just no reason for it. There is no shortage of snapper, eating bad oysters is not killing off people.......there is a political agenda at work.
Boaters had a protest last Saturday all up and down the coast. (click to see a video) There are people working to STOP these ridiculous restrictions. If you want to voice your outrage, just send me a quick email and I'll send you all the information.
There was an auction last Saturday in Mexico Beach. The results were:
1. The gulf front lot + 1st tier lot DID NOT SELL. I believe the high bid was a little less than $500,000 and the seller would not accept it.
2. The Duplex beach side DID NOT SELL. I believe the high bid was around $310,000. The seller would not accept.
3. The commercial lot on Hwy 98 DID NOT SELL. I believe the high bid was around $110,000. The seller would not accept.
4. The bay front lot in Laird Bayou (panama city) SOLD absolute for $110,000 + 10% buyers premium.
Tropical Storm Ida was a bust! We had quite a bit of rain and some pretty good wind gusts but nothing to get excited about. Mexico Beach has been extremely fortunate the last several years. We like it that way!!!
Okay, now on to REAL ESTATE!!
The first time homebuyer tax credit has been extended. Contracts have to be signed by the end of April and closed out by the end of June. A first time homebuyer is defined as someone who has not owned a home for the last 3 years. You can receive an $8,000 tax credit!
They also added a $6,500 tax credit for move up buyers. If you have lived in the same residence for the last 5 years you can qualify for the $6,500 tax credit when buying a new primary residence.
They also raised the income limit from $75,000 to $125,000 for single filiers and from $150K to $225K for joint filiers.
These tax credits have definitely moved many buyers off the fence. It provides an additional boost to the local economy because when people buy a new home, they also buy new furniture, new services, for example painters.....
Gosh, low interest rates, motivated sellers, reduced sales prices, tax credit..........THESE CONDITIONS WILL NOT LAST FOREVER!
November has been a pretty active month!
Six residential properties put under contract here in Mexico Beach to St. Joe Beach.
- 2,000 sq ft home in a great neighborhood, 3 bed/2 bath + guest cottage listed at $199,000 as a short sale. Needs some work.
- TWO beach side townhouses were put under contract. Both were 3 bed/3 bath about 2,000 sq feet. One has canal and gulf view listed at $289,000. The other has limited gulf view, being sold furnished, listed at $335,000
- Fixer upper Triplex up on a bluff, with fantastic views. Needs a lot of work, bank owned and listed at $300,000
- Very nice 3 bed /2 bath home in the 2nd block to the beach, large lot, listed at $375,000
- 3 bed/3 bath home with about 2250 sq feet in the exclusive resort area of Windmark beach listed at $575,000.
- Canal front condo, 1bed/2 bath bank owned, listed at $174,900
- 2.5 acres of vacant land a few miles from the beach listed at $89,900
- Vacant lot in Windmark Beach, listed at $255,000
One of the most interesting properties that went under contract.
MARQUARDT'S MARINA: The business only was listed at $229,000 which includes a turnkey business of retail, sales and service. PLUS, the real estate of .87 canal front commercial land, 33 wet slips and the 2005 Marina building. The real estate was listed at $1.7 million. This will be one I'm anxious to see what it closes for!!!!
We also had a few closings last week:
- 1,300 sq ft "skinny house" walkable to the beach, close to a city park, sold for $175,000
- Canal Front Condo, 1 bed/2 bath. sold at auction for $189,750.
- TWO waterside cottages, 4 bed/2 bath, one block from the water, gated subdivision, 1800+ sq feet. One sold for $295,000, the other for $300,000.
___________________________________Please don't hesitate to call/email me anytime if you have any questions about any property in the area.
Have a great week and remember: Forgive your enemies. It messes up their heads!