Can't Believe March is Here! Mexico Beach Florida

DON'T FORGET NEXT SUNDAY, MARCH 8TH IS DAYLIGHT SAVINGS TIME. Time to spring ahead!!!!

34 degrees as I write this this morning. Only a high of 55! By the weekend we are to be in the low 70's. At least it's sunny---makes a lot of difference!

I could be in my hometown of Erie, Pennsylvania where the high for today is 19!!!!
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Wow, its been quite a week in real estate! We have literally been showing property 5 days a week here!! Reminds me of the good old days when I'd have to cancel doctor's appointments because I had to show property!



There are people calling/emailing in almost everyday scheduling trips to come and look at property---it is so encouraging. And quite amazing to me!!!! Listening to the news you would assume we were all on the verge of disaster!


For the most part these are definite buyers not just tire kickers!


It might be that people are deciding to put their money in real estate as opposed to the stock market?????


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Since I last blogged last Monday, 4 properties have gone under contract out at the Cape. All were either Gulf front or gulf view and all except one were short sales!!


Just to remind you---a short sale is when the seller owes more than what they are asking. The seller then has to negotiate with their lender to take less and release them from the mortgage. This is usually a lengthy process so buyers need to be patient!!! Banks do not conform to our policy of "time is of the essence"!


As for closings. Last week a modular house on the cape closed for $100,000! A mobile home in Mexico Beach for $95,000, and a beach cottage with unobstructed gulf view for $297,000 in St. Joe Beach. A gulf front house out on the cape closed as well, although the sales price has not been posted yet.


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I have now comprised a separate list of foreclosures and short sales for the Cape San Blas, one for Port St. Joe and then one for Mexico Beach and St. Joe Beach. The cape has the most by far, and it will take a while to download, so I'll only send this at your request!!!
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I will be sending out my monthly newsletter tomorrow. The most interesting statistic, and definitely worth repeating in the newsletter is.....................The average sales price, when compared to January and February of 2008, is DOWN a whopping 43%!!!!!!!

And the number of transactions is UP a whopping 42%!!!!!


Of course that makes sense, prices are down, people are buying!!!!!


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I'll highlight some other stats for the month of February in my newsletter tomorrow as well as provide you with what I think are good deals and other miscellaneous information. If you are on my email list and have not received the newsletter in the past, it may be because it is registering as spam. Just let me know and I'll send it another way.
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Have a great week! Don't hesitate to call/email me anytime if you have any questions about any property in the area. You can see all properties on the market on my website by clicking on property search. http://www.maryblackburn.com/
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Remember.....God loves you because of who God is, not because of anything you did or didn't do!!!


Mary

850-896-5222
http://www.maryblackburn.com

Real Estate in Mexico Beach Florida

Brrrr, little chilly this morning! 38 when I came to work this morning. I thought we were all over this cold stuff! I like 70 and over weather!!! At least its sunny!

My prayers go out to the good folks in Thomasville, GA. I heard they had a pretty brutal tornado last week. Thank God, no one was hurt, but a lot of damage done.

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Below is a link to a website that gives information about the stimulus bill for first time homebuyers.

http://www.federalhousingtaxcredit.com/2009/faq.php

A different part of the stimulus bill has to do with higher priced financing.

Below is a statement from Brian Robinson, a mortgage consultant for Wells Fargo.

"While details are sketchy - we will expect to get some clarity soon as to an additional tier of conforming loan amounts which had been first established in 2008. This tier of home loans are those greater than $417,000, and with a maximum that depends on the area, but is not greater than $729,750. These loans would be eligible for rates that are slightly higher than conforming loan rates, but less expensive than the standard "jumbo" loan rates. "

This is good news for those wanting to financing a large amount.

Fixed rates for 30 year notes have been around 5-5.4%. Jumbo rates have been 6.2-6.7%

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In the real estate world of Mexico Beach, St. Joe Beach, 2 properties have gone under contract since last Monday. One closing of a gulf front condo (all great deals!!!).

We are all showing lots and lots of property. Offers are being made, usually pretty low offers, but you have to start somewhere!!!!

There are lots of buyers out there. I find it encouraging that we are showing so many properties----if you were to only listen to the news you would assume everyone is destitute!!!!

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Everyone wants a good deal. What is a good deal? In my opinion, you have to include a few things to determine a good deal. #1 is fair market value. Your realtor can find all comparable sales in the area to help determine that number. However, that is not the only factor. #2. Does it suit your needs? If its a property that you are going to use and enjoy for the next 5 years, then that adds value as well! #3. Is it affordable for you? If you can afford it and it meets criteria 1 and 2, then I think its a good deal.

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Mexico Beach is alive and well! There are at least 3 new homes going up in Mexico Beach alone (I'm not including spec homes that are being built just to sell).

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I'm working on updating the foreclosure and short sale list. I am now including Port St. Joe and Cape San Blas.

If you are interested just send me a quick email and I'll get it out to you as soon as I am finished (hopefully later today!)

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Have an awesome week! Please check out my website calendar of local events. You can also search for all properties on the market in this area. http://www.maryblackburn.com/

Don't hesitate to call me if you have questions about any properties you see whether they are my listings or not!!

Mary

850-896-5222

Greetings From Mexico Beach, Florida

Another gorgeous day in Mexico Beach! The Gumbo Cook-off was Saturday and although it rained (rain is an understatement!) we had a fantastic turn out! The competition was fierce AND delicious and fun was had by all.

Below is just a little video from my vantage point at the Sundance Realty gumbo booth (we won a people's choice award!!---just kidding).

Below is a link to you tube to see the video.

http://www.youtube.com/watch?v=TT8xx2L1G-Y

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So, the stimulus package...........They have decided to boost the housing market by offering homebuyers a 10% tax credit on their home purchase. BUT, its 10% up to $8,000. And its for first time homebuyers only. AND, you can't make over $150,000 for couples or $75,000 for individuals. AND, you can't sell the home for 3 years or you have to repay. AND you have to purchase it before November.

I believe the definition of first time homebuyer is someone who hasn't owned a home for the past 3 years.

I'm all for a tax credit because I do think it well get some buyers off that fence. Not many, but a few. And I really don't mind the stipulation of having to keep the house for 3 years, because that will rule out the investor.
But I really don't think there should be a income restriction. Why penalize people who make a great income????

I don't think this is going to have a huge impact on the housing market! What do you think?

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Cypress wood is not only gorgeous but expensive! Below is a link to a neat little story about the guys who dive for it. Brothers River is north of Mexico Beach.

Just a little local flavor for you!

http://gardenandgun.com/galleries/photos/swamp-men

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Oh yeah, the real estate market......................Lots of activity the past week. Lots and lots of lookers, offers being thrown out, and I believe at least 2 properties went under contract just this weekend! Doesn't sound like much but remember, we are talking just about Mexico Beach and St. Joe Beach, so a pretty small area!

Listing prices are still all over the place. Unfortunately, we still have sellers who insist on putting their properties on the market at ABOVE market value.........WAY above. I don't understand why! It doesn't do the seller any good and it just confuses any potential buyers!

No one can tell where the bottom is when our listing prices are all over the place.

We did have a closing on a nice home across from dedicated beach (unobstructed water view). It closed at $520,000. This was not a distress sale at all, so it really provides a good fair market value!!!

Those sellers that really want to sell are becoming more and more reasonable----properties that are priced right are getting shown and getting offers.

All initial offers are low, simply because that's what happens in a down market....but the most important thing is to get it shown, and work with the buyer when an offer comes in!
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Please don't hesitate to call or email me if you have any questions about any properties in the area. Of course, I can help you with ANY property, it doesn't have to be my listing.
Check out my website http://www.maryblackburn.com/ and you can see all properties that are on the market!!

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Have a fantastic week!
Mary
850-896-5222
Sundance Realty

Happy Valentines Day from Mexico Beach!

Well, we are back to a little warmer weather! Low 70's today!

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I sent out my monthly newsletter last week. If you didn't get it, send me a quick email and I'll forward it to you!

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I am just really encouraged about the amount of activity going on here. Lots and lots of people looking and actually quite a few of them are making offers!!! Several properties under

Prices are obviously becoming reasonable!!

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I'm not a fan of the stimulus bill, but one aspect of it will have a positive effect on real estate.
They are proposing a $15,000 tax credit for purchasers of primary homes. This is not for investors. It must be a primary home (which just means you have to spend an equivalent of 6 months in the house).

There is no income limitations for this tax credit, it is available to ALL primary home buyers.

What is a little sketchy yet is whether it is going to be a tax credit, given to you when you file your income tax or if they are going to allow you to claim that when you close on the house.

I'll keep an eye on it and let you know what develops. It does add just one more motivating factor to buy now.
#1. prices are down.
#2. interest rates are down
#3. $15,000 tax credit

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Does anyone out there use skype??? I'm contemplating putting a skype button on my website. If you have any thoughts PLEASE email me!!!

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The Mexico Beach Gumbo cook-off is this Saturday. Sundance Realty is going to have a booth so please stop by and taste our gumbo!!!!

Speaking of this event...... I have added a calendar to my website with events in the area. I am limited to how much information I can put on the calendar. If you have any questions, please dont hesitate to call/email me and I'll provide you with all the details!

If you have any events you'd like me to add, I'd love to, just give me the information!!!

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Toucan's Restaurant is going to be auctioned off March 15th. That is, if the auction company does not sell it before then. The owner of Toucan's is spending the rest of his life in prison...tax evasion, drug and firearm charges.

If you know of anyone who may be interested in bidding, please have them contact me and I can provide them with all the information.

There are some properties adjacent to Toucan's that are also going to be available for bidding.

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I don't know about you but............I feel most people think they are going to be able to get a steal and a deal if a property is put up for auction.
This is not always the case! Sellers always have the final say as to what they are going to accept. Several auctions have been canceled in the area because the bidding was way too low.

I don't think auctions are the way to go in a down market. My thoughts are it's like going to a flea market, you don't want to pay retail you want it for a bargain basement price! Please feel free to comment and let me know what you think.

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Please don't hesitate to call me anytime if you are already on my email list and have revised your criteria!

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Pass my name around to all your friends and family!

Have a great week and ......................

"Don't compare your life to others'. You have no idea what their journey is all about!!!"

God bless,
Mary

Congrats to the Pittsburgh Steelers!

I'll be totally honest.......I'm not a sports fan. I didn't watch the superbowl. But, being from Pennsylvania, I must say I exude a little extra pride today!!!!

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Four properties put under contract in the last few days just in the Mexico Beach, St. Joe Beach area! All Realtors were showing a lot of property in the last couple of weeks! There has been a definite increase in interest, so if all &*^% doesn't break loose, I'm anticipating a good year.

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I see a principal coming in to play in this market that an investor told me about a long time ago.

Unique properties tend to hold their value more, as well as appreciate more. For instance, if you have 8 houses that are pretty much alike, all 8 of those houses are going to bring pretty much the same price. In this market, if one of those 8 homeowners is pretty motivated to sell and sells it at a steal of a price, then the other 7 homes are pretty much valued at that seller's price. They would have to sell pretty close to the 1st seller's price or wait until the market goes back up.
HOWEVER, if you have a unique property, a one-of-a-kind, whether it be the location, condition, unique features..........then you don't have any comparables. Your property can have its own unique price!

Makes a lot of sense! So, when you are considering purchasing for investment, you need to keep that principal in mind!

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Mortgage rates are at 5-5.3%-- but I think this is mainly for primary homebuyers. But even so, if you can 5.8-6% for a 2nd home that is still pretty good.

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I'll be sending out my monthly newsletter later this week. If you haven't been receiving it and you know I have your email address, its probably being blocked. So let me know and I'll send it another way.
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If you have been receiving emails from me and are no longer interested in buying or selling in this area, please let me know. I will take you off my list---I really don't want to bother anybody--I am not a high pressure real estate agent!!

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All my prayers go out to the families that have experienced that terrible ice storm --it was brutal. I talked to a family from Kentucky just the other day and they said the death toll was around 37 there.

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Have a great week, don't hesitate to call/email me anytime!

Mary
850-896-5222
http://www.maryblackburn.com/