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Monday, February 15, 2010

Happy President's Day from Mexico Beach Florida

Happy President's Day!

I pray everyone not only survived, but maybe even enjoyed, the unbelievably weird weather we've had in the last week!
My sister lives just outside Dallas, TX and they had over 5 inches of snow!   Her kids loved it---snow angels, snowmen.......
My sister in law lives in Shreveport, LA, they also had over 5 inches!

We in Mexico Beach just had cold and rainy.  I believe we have another colder than normal week this week.  High's only in the high 40's low 50's and still dropping into the 30's at night!     Typically we should be in the mid to high 60's by this time!!!
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On the Real Estate Front:

Two properties went under contract in the last few days in Mexico Beach, several offers are still negotiating.
One Residential sale closed last week.
Two vacant lot closings last week.

We now have 20 residential properties under contract.  FIFTEEN of them are short sales, one is a foreclosure, that leaves only FOUR that are typical transactions.    The longest short sale still under contract has been 9 months!   I do believe the process is getting better though.  We've had some short sales approved in less than 2 months!!

The short sales seem to be the best bang for your buck right now.  If you are willing to wait it out, you can get a great deal!

Cape San Blas/Indian Pass

Twelve residential properties are currently under contract.   Eight of them are short sales, one is bank owned. 

The Cape saw one residential closing last week.

Four lots are under contract in the Cape area.

Two lot closings last week.

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Rates for the weekend of  February 12th  

 

30 yr Fixed                                   FHA/VA- 30yr Fixed                                 30 yr JUMBO

 4.875% - 5.125                           4.875% -5.25%                                           5.625%- 6.0%              

15 yr Fixed                                   Interest Only ARM - Jumbo                                 Condos 

 4.25% - 4.5                              5.125%-5.375%                                           4.875%- 6.375%


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There are two major projects under way in Mexico Beach.  One is the pier extension on 37th Street.  The anticipated completion date is April!
It will extend into deeper water and have a T at the end to provide better fishing for those dedicated pier fishermen and women!!!

Another one is the St. Joe company boat ramp.  This projected is expected to be completed around June, if not much sooner.   I've attached a picture of the construction.  
There is going to be a 3 bay boat ramp just on the north side of the bridge.   This will take the boat traffic off the Hwy, which many of you know can be dangerous in the middle of the summer.

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Don't forget, if you are trying to take advantage of the $6500-$8,000 tax credit, the clock is ticking.   It is set to expire by the end of June this year.

Let me know what you are looking for and I'll do my best to find it for you!

Have a great week,
Mary
850-896-5222
www.maryblackburn.com
Sundance Realty
Mexico Beach FL real estate on Facebook

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Posted via email from Mary Blackburn in Mexico Beach, FL

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