TOUCAN'S RESTAURANT SOLD! Finally! Purchased by 3 brothers from the Atlanta area for $2,675,000 the restaurant is in for some positive changes! One of the changes is the new owners are planning to open the Tikki bar with affordable "beach food"!
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I believe we are back to our normal June weather. We had a tremendous heat wave the weekend of the 19th, with heat indexes of 117!! This past weekend we have been in the upper 80's with a heat index of upper 90's. Hot but typical! The beach has been dotted with colorful sun umbrellas and tents as everybody is enjoying our beautiful beach and waters!!!!
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The 4th of July is typically our busiest weekend! Mexico Beach puts on an awesome fireworks display off the pier! It can't get any better than watching fireworks from the beach!!!

There is a 5K run that morning as well as a kid's fishing tournament! Let me know if you need more information!

Don't forget the movies in the Park every Thursday night. Check my calendar for the title and location!!!

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As for the Real Estate Market in Mexico Beach:
Five properties have been put under contract since I last blogged on the 15th.

>Cute , little, renovated cottage in St. Joe Beach, listed at $139,000.

>A Palms townhouse in Mexico Beach, 4 bed/2 bath, listed at $175,000 (short sale)

>A older 2 bed/2bath octagon house in Mexico Beach on a large lot, listed at $150,000.

>A fixer upper house up on stilts about 1.5 blocks from the water listed at $164,000

>A nice BEACHSIDE single family house, listed at $365,000.

We also closed on 4 properties last week:

>A beautiful Gulf front single family home for $750,000. It was a short sale.

>A newer 4 bed/3.5 bath home in a new subdivision selling for $235,000.

>An older concrete block home with fantastic view on a large lot for $236,500

>A newer 2 bed/2bath townhouse about a mile from the water selling for $111,500
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Cape San Blas has some good action as well.

Five properties under contract since 6/15/2009. All gulf view or gulf front. Only 2 are not listed as short sales.

>Gulf View, 3 bed/2bath, about 1500 sq feet listed at $349,000. Short sale.

>Gulf View, 2 bed/2 bath about 1250 sq feet listed at $359,000. short sale.

>Gulf front, 3 bed/2.5 bath, 1900 sq feet, listed at $444,900 (sits back a ways off the beach, so your view is actually limited)

>Gulf view, beautiful home with pool and elevator and over 3,000 sq feet, listed at $625,000.

> Gulf view, older home, 3bed/3 bath, listed at $299,000.

Sales out in the Cape Area:

>Gulf front new construction but never finished, some mold, over 3300 sq feet sold at $449,000. Bank owned.

>Barrier Dunes (out at the end of the peninsula) townhouse, 2 bed/2.5 bath sold for $204,500

>Gulf front townhouse that needed a lot of repairs, in a heavily eroded area, sold for $210,000.

>Gulf front condo, 3 bed/2.5 bath sold for $245,025. Bank owned.

>Beautiful Gulf view house with over 1800 sq feet sold for $439,000.

>Never lived in house with limited water views, private pool, over 3,000 sq feet sold for $440,000. Bank owned.

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Port St. Joe is even some movement!!!

Four properties have been put under contract:

>3 bed/1 bath older home listed at $110,000

>3bed/2 bath 1937 home that's been renovated, large lot, one blk from the bay listed at $199,000. Short Sale.

>3 bed/2 bath basic brick home with about 1800 sq feet listed at $149,900. Bank owned.

>3 bed/3 bath very nice townhouse, with about 1800 sq feet, listed at $179,000. Short sale

Sales in Port St. Joe last week.

>3 bed/2 bath older brick house, one block from the bay, large lot. Sold for $175,000. Bank owned.

>Newer house but had some termite damage, the only house in a new subdivision, sold for $193,500 bank owned.

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Buyers are getting some extremely good deals! There are still a lot of properties under contract and who knows when they will actually close---they are short sales. Short sales are actually MUCH LONGER SALES than normal transactions. Because banks are not under our contractual time lines, they take FOREVER, to approve. So, if you are considering putting in an offer on a short sale---BE PATIENT. They are usually worth the wait!

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You can now get a very nice, 2000 sq ft house in Mexico Beach for around $250,000 (maybe less). You can get a cute little townhouse for less than $140,000. Both just a short walk to the beach. How about a very nice 2 bed/1.5 bath townhouse just a stone's throw from the water, granite counters, new kitchen cabinets for $269,000? You'll have to ask me for the specifics on this one!
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Please don't hesitate to call/email me with any questions you may have about short sales, foreclosure, or property in Mexico Beach, Port St. Joe, St. Joe Beach, Cape san Blas.........
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Have a great 4th of July week! Keep our country in your prayers!

Mary

850-896-5222

http://www.maryblackburn.com/

Living the dream in Mexico Beach, Fl

Well, its getting pretty hot in the middle of the day, I must admit! But this is why we moved here, right? I'm not complaining, its gorgeous! One can not complain when they look out their window and see white sand and blue water everyday!!!!



Fishing report:
Chip's been doing great! He fished all weekend and everybody had a great time. He's got the next 8 days booked solid. Snappers, kings, spanish, even a dolphin and grouper yesterday!
Check out his website if you are interested! www.charterboat-missmary.com
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On the real estate front lines:
There have been several deals falling through because of low appraisals!!! Buyers were willing to pay a price (wouldn't that be called market value?) but the appraisals came in much lower! Sheesh, if we aren't battling one obstacle we are battling another!

Another reason, why pricing is so important when listing your home!
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In Mexico Beach we have 19 residential properties under contract. Of those, only 3-4 sellers are making any money --- Of course these are the sellers who bought their property quite a few years ago!

If you are a seller and making a good amount of profit from your home, consider yourself very fortunate!!!!

We've had a pretty active market in the last couple of months, however, with the tighter lending regulations, low appraisals, and now interest rates on the rise, we may experience a slow down.

If you are a seller, and you get an offer, its best to work it out and make it work, for it may be the last good offer you get!!!!
We are going to be in a buyer's market for a while!!
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Nice homes that are in the $200-$250,000 range are just about gone. We still have a lot in that price range and several that are under $200K, but only a couple are move in ready! If you are not opposed to some sweat equity, let me know and I'll send you some "fixer-uppers".

This is the time of year when buyers are looking for townhouses beach side. These are starting at $220,000 for 2 bedrooms! While most of these won't cash flow, you might be able to get it to pay for 50-70% of the carrying costs! Remember, you are buying at the bottom of the market, if you can get 50% of your carrying costs back and then use the property and enjoy it, in 7-10 years you'll see a good appreciation! Sounds like a sound investment to me!
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Another type of property that is getting a lot of action are those with unobstructed gulf view. I've talked before about "unusual" properties having more value. There are very few homes that are pretty much guaranteed unobstructed water view forever---where no one can build in front of you----these properties are definitely "unusual", "limited", and COVETED!
They, therefore, command higher prices (starting at $599,000) but, of course, retain their value more, as well.
They, to me, are better than gulf front-----less worry, less insurance, less maintenance, more privacy..............steps to the water and coffee on the veranda overlooking the water.....duh!
There are a few on the market right now, let me know if you are interested and I'll send them to you to review!
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Fourth of July is rapidly approaching. We always have a great fireworks show. Can it get any better than sitting on the beach at dark with friends and family and watching fireworks?????
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Have a fantastic week and don't hesitate to call/email me if you have any questions about buying or selling in Mexico Beach, St. Joe Beach, Port St. Joe, Cape San Blas, Windmark Beach!

Please don't forget to keep our soldiers, and our country in your prayers. My prayer for everybody is Ephesians 3:14-21!

Have a blessed week.
Mary
850-896-5222
www.maryblackburn.com
Sundance Realty

A Gorgeous Week In Mexico Beach, Florida

We had a couple days of rain and, although I feel sorry for the visitors who were here for only a few days, we really appreciated that rain!!! That rain was followed up by gorgeous weather though------as the old saying goes "If you don't like the weather, wait 20 minutes". Sometimes you might have to wait a day or two but................
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Let me update you on the fishing............the snappers are abundant! The snapper season is only 2 months, so if you are interested in a charter trip, you better hurry. Chip's calendar is filling up. www.charterboat-missmary.com

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Auction Results! Seven properties were up for auction this past Saturday.

• Large Gulf front home: SOLD for around $635,000. Very nice home, but on a pretty narrow part of the beach.
• Vacant lot : SOLD for $83,500 + 10% buyers premium. Great lot in a very nice neighborhood, a stone's throw to the water.
• Small gulf front cottage: High bid was $415,000. Sellers wouldn't accept.
• Vacant lot, beach side of Hwy 98: High bid was $130,000. Seller wouldn't accept.
• Large brick home on 5 acres (the Parker Estate), north side of Hwy 98. : Opening bid was $500,000, no other bids: sellers wouldn't accept.
• Commercial building on Hwy 98: High bid was $290,000. Seller is considering accepting.
• Older, but well maintained home on the north side, great neighborhood, stone's throw to the water, was put under contract before the auction.

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The market in Mexico Beach for the last 7 days.

4 properties were put under contract.

• Two townhouses about a mile from the beach: (The Palms). A 3bd/2bath listed at $145,000 and a 4bd/2 bth listed at $149,000. Both are short sales. (the owner owes more than that)
• A 2 story older home on 2 lots, 2nd block to the beach. A lot of character but a little bit of a funky layout. Listed at $299,000. Short sale.
• The Windmark Beach Foreclosure: Over 2,000 sq ft, built in 2005, walkable to pool and beach. Listed at $435,900.

Negotiations on a couple of other properties today!

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Cape San Blas

4 properties under contract.

• Two Barrier Dunes townhouses (Great vacation resort just before the state park at the cape) a 2bd/2.5 bath listed at $218,000 and a 5bd/3 bth listed at $299,900 (short sale)
• Gulf front townhouse (gulf front, but a scary gulf front to me-----high erosion area). listed at $229,000. short sale.
• Bay Front house with almost 2,000 sq ft. Listed at $499,000 as a short sale.

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Port St. Joe had a lot of activity this past week! FIVE properties put under contract.

• Two real fixer uppers: One in Port St. Joe with about 1,200 sq ft listed at $75,000, one in Highland view, built in 1958, listed at $59,900
• A cool looking home that's been renovated, almost 2,000 sq ft, listed at $159,000. short sale.
• A newer townhouse with about 1800 sq ft, 3bd/3 bath listed at $179,000
• An older home close to the bay with a good size lot, some updating needed, listed at $186,900. Foreclosure.

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Interest rates rose a little last week to just over 5%. I think they will continue to rise from here on out...........................prices down, interest rates still low but on the rise.......hmmmmmmm.....

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Please don't forget to check out my calendar of local events---movies in the park, salt air farmer's market...........

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Have a great week! Don't hesitate to call or email if you have any questions about the area or real estate!

If you are seriously looking to purchase this year, please contact me right away if you haven't already--the good deals are going!

Mary, www.maryblackburn.com

850-896-5222