Mexico Beach Florida

Our weather has been beautiful lately, hot, but beautiful! Talking to the companies that handle vacation rentals, rentals have been slower than normal thus far. It's no wonder when you consider the price of gas! It is definitely making an impact on most folks. There are a lot of people that are still coming on the weekends though, because the beaches are packed-----well , packed for Mexico Beach anyway, not packed compared to other beach communities, I guess.

Gas is over $4.00/gallon here in Mexico Beach.

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Real estate has definitely been slow the last few weeks. People are still looking and even some offers being thrown around, but not a lot of offers going to contract. I always have statistics in my newsletter which will come out the 2nd week of July.

I'm not sure about other Realtors, but most of my showings lately have been single family homes as opposed to condo's. I think the pricing on condos are really going to have to come down a lot more in order to get any action. They have actually stayed pretty close to where they were at their pre-construction pricing, which was several years ago! Many of the units are still developer owned, so I would imagine they are getting pretty antsy to sell!! The least expensive 3

bedroom new condo w/pool is over $450,000. With that kind of mortgage + property tax + HOA fees, most people seem to just be staying away and going for Single family homes even though they are a little farther off the beach!

If you have at least $1500/mth expendable income you can get one of those single family homes at the beach!!!

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Windmark Beach was supposed to officially open their "School of Fish" restaurant this past weekend. I'm going to assume they did, but I have not had a chance to check it out yet.

I believe they were also opening their humongous pool as well as their vacation condos.

Below is the School of Fish menu. This is an upscale restaurant from New Orleans.

I can't wait to check it out!!! If any of you do before I get a chance, let me know what you think!!!

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I've been a bit frustrated trying to keep up with interest rates lately. It seems that no one wants to post their rates on their websites anymore! I know that when they quote rates and then I pass them on to you those are not written in stone---but it seems that lenders are now so worried that they will be held to those general rates that they are now afraid to give them out!

So, although I can find out some rates for you when you specifically ask me, I will not be posting rates in my blogs or newsletters anymore. I'll try to give you some kind of ball park though in my next newsletter!

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On the fishing front---------------snapper fishing is awesome! In fact, I'M GOING SOON!!!

I'm not the greatest fisherman----I'm more of a "fair weather" fisherman. I'm not bad with the rod and reel, its just that I get seasick at the drop of a hat (or should I say at the hint of a wave!)

So therefore, I only like to go out when #1. its not too hot or not too cold. #2. must be slick calm #3. maximum of 4 hours #4. WE MUST CATCH A LOT OF FISH AND QUICKLY!

So, I guess it's no wonder I don't go out a lot!!!!

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I hope you all have a wonderful weekend! Don't hesitate to call or email me if you have any questions about ANY property you see for sale----I can sell you anything in our area!

As always, go to church on Sunday---------"Coincidence is when God chooses to remain anonymous."

Summer is Here!

Man it's been hot! I'm not complaining though, That's why I moved here!!
The weekends have been busy in Mexico Beach. I love to go down highway 98 and see all the gorgeous umbrellas dotting the beach! Lots of kids on floats, jet skiers, sunfish, I love seeing it all!

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Let's talk fishing first!
Chip's been doing pretty well. Lots of snapper, that goes without saying! You know they have shortened the snapper season------why? Certainly not because there is a shortage of snapper!
Chip can't even get bait down to the bottom for a grouper because of all the snapper!!!

He's also been catching a few grouper here and there, as well as king and spanish. He had some beautiful dolpin the other day!

Check out his website and book a trip! www.charterboat-missmary.com

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As for real estate..................
It continues to be slow but somewhat steady. Everybody is showing property and there are definitely offers out there, some being rejected but quite a few being accepted. There have been some absolute steals lately!

• Beach side, newer, 3/3 townhouse for $195,000----completely gutted though, needs EVERYTHING on the inside.
• Beach side lot for $171,000----has a tear down house on it though.
• Two Beach side lots across from the canal for $125,000 each.

I email great deals like this EVERY DAY as soon as I find out about them. You have to be ready to move quickly! This requires trust (of me, as your Realtor), quick financing, and the ability to execute a contract quickly!

These are the deals investors are scooping up. Yes, investors are coming back into Mexico Beach!

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There are plenty of good deals for everybody though! If you are looking for a beach side (this does not mean gulf front, it means beachside of Hwy 98 so just a stones throw to the water) townhouse, please expect to pay $300,000 for a three bedroom. $250,000 (maybe less) for a two bedroom. These are not unreasonable prices for coastal properties.

You can get a single family home for $200,000----walkable to the beach!! At around $126/sq ft---you can't buy a lot and build for that!!!!

You can buy a BRAND NEW home, walkable to the beach, for $300,000!!!

If you just want a small place to crash for the weekends, away from the noise and stress of a big city------------------you can find something for right around $130,000 (NEGOTIABLE!!!).

DOESN'T SOUND TOO BAD DOES IT!

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Our prices have fallen drastically the last two years if you compare to the CRAZY years of 2005, 2006. We are back to our pricing BEFORE the boom. Are we at the bottom? I DON'T KNOW FOR SURE! I know that some of the prices are too high, I know some are reasonable, and I know some sellers are motivated and will make you a great deal! Are you ever going to be able to buy a single family house here for $100,000 again----NO! Are you ever going to be able to buy a gulf front townhouse here for $200,000 again---NO! I'm sorry but normal appreciation dictates that those times are over!

However, if you have been looking and CAN AFFORD a place here NOW , don't let looking and waiting for the "bottom" make you miss the good deals now!

Let me know your price range and I can send you a link to all properties in that price range!

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Vacant lots have really dropped as well! Bank financing is not great on vacant lots, but if you have cash or want to have a seller owner financing, you can find a nice size lot for as low as $69,000!

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There have been some commercial sales in the area as well! There may be a new restaurant in the area and a retail store as well!!! I'll provide more details as they become available!!!

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Well, I pray everyone will have a great rest of the week and a terrific weekend!

Send me an email and let me know what you are looking for!

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Go to church on Sunday and remember "When you get to your wit's end, You'll find God lives there."