Happy Spring From Mexico Beach Florida!

I'm not sure where spring is springing this year but....its still 10-15 degrees cooler than normal this time of year here at the beach.
I talked to my sister in Texas Sunday and they got 6 inches of snow Saturday night!

It's been blowing a gale here for the last 2 days as well----------but I'm not complaining---Really!!

I could be sitting somewhere where 40 degrees IS normal for this time of year!!    We'll be in the 70's by the end of the week!
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Let's get right into the market!

Four properties went under contract last week in Mexico Beach to St. Joe Beach.

• A 3 bedroom Waterside Condo, ground floor, listed at $169,900 as a short sale
• A 2 bed/2 bath condo ground floor right across from the beach, listed at 189,000 as a short sale.
• A 2 bed/2 bath condo, top floor in the same complex as above, unobstructed gulf views, listed at $210,000 as a short sale.
• A little house with a big pool, 2 bed/1 bath + guest house + beautiful in ground pool, listed at $249,900
• There are a couple of other properties that should be under contract as of today from negotiations over the weekend.
  

On the cape one property went under contract:

• A 2005 house with private pool, gulf views, 2100 sq ft, listed at $409,00

Closings:

• 3 Bedroom Waterside condo:  Purchase price:  $155,089 + the buyer paid $5500 of seller costs.  (short sale)
• Old 3 bedroom/2bath home, beach side:  Purchase price $217,000
• Nice Home in St. Joe beach, one block to the water:  $280,000 (short sale)
• Gulf front home in Mexico Beach:  Purchase price $490,000 (I think the buyer paid some closing costs as well)

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I've been posting about some banks FINALLY getting realistic and aggressive about actually selling the properties on their books. 

Several bank owned deals put on the market right at market value have been snatched up in just days with multiple offers!!

Two properties listed as foreclosures were under contract with multiple offers in just 24 hours from listing.

Of course, not all banks are doing this----there are still some that are  not quite priced to sell---still sitting on the market....
FORECLOSURES

If you are interested in any of the foreclosures above, my suggestion would be----let's make an offer!    The worse thing they can do is say no!

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Have a great week!

Please don't hesitate to call or email me at anytime with any questions or concerns!!
Thanks
Mary
www.maryblackburn.com
Sundance Realty
850-896-5222
Mexico Beach FL  Real Estate on Facebook

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Posted via email from Mary Blackburn in Mexico Beach, FL

Has spring sprung in Mexico Beach Florida?

We had a gorgeous weekend!   Sunshine, warm temperatures (a tad windy but....) and what made it even better was its now staying light longer!

I thrive on daylight----sort of like a bear---when it gets dark I'm heading to the cave!    So, I'm grateful for more hours of daylight!

Lots of people here this past weekend!   I love seeing lots of cars in the driveways of houses that are vacant most of the time.  I conjure up images of family reunions and I get that warm fuzzy feeling!!   There's nothing better than a vacation at the beach with family and friends!!
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I've been reporting the same thing for weeks now---its been busy!   We've been selling condos for the past 2 months at great pricing!
Practically brand new, a block from the beach, very nice complex with a gorgeous pool.    There are only a couple left right now.
Two bedrooms have just sold at $147K, now you can get one at $130K but I think there is only one left. 
The 3 bedrooms have sold at $177K and there is only one of those left too!

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Mortgage rates are remaining low----30 year fixed starting at $4.65!!!!    If you are considering purchasing a 2nd home you will need to put 20% down.
Here's my mantra again....................purchase prices way down, mortgage rates way down---great time to buy!
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My pick of the week is a large house that has a few quirks, but I know someone out there will love it!
It is a foreclosure now priced at $314,000.   It's about one block from the beach in a small subdivision with a community pool.
The lots are large, the HOA fees are minimal.   This house has a one bedroom apartment on the ground level and then 3 bedrooms/3 baths on the 2nd and 3rd level.    Great decking on the upper floors and you do have gulf view.
It is going to require a little TLC.   I have no idea what the bank would take.   Only one way to find out---make an offer!

Let me  know if interested!!
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I've got to get back to work!
Call me with any questions or concerns!
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

Time Change coming up Mexico Beach Fl

Next Saturday is the time change.   Spring ahead!!!    I'm hoping the weather cooperates and realizes its SPRING!

We are expecting temps in the 70's this week but a few days of rain as well.   I'm just happy for it to be a little warmer!!
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Spring breaks have started.   I saw several groups of young people on the beach yesterday!   Amazingly, they were in their bathing suits!    It was NOT bathing suit weather but when at the beach...........................

Mexico Beach is not inundated with spring breakers as Panama City is.   We just don't have enough night life and action around here to satisfy them.    Therefore, when they come to Mexico Beach they just have good fun in the sun since there really is nowhere to get into trouble!!!

We will have lots of families taking spring break together.  We are ALWAYS glad to see them!
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Last week was extremely busy in the real estate world!  

Only 3 properties were officially put under contract in Mexico Beach.  Two more were put under contract this morning from negotiations over the weekend,  and there are 4-5 that are still in negotiations this morning!!

Two properties out in the Cape San Blas area were put under contract as well last week. 

Lots of buyers taking advantage of this buyers market!!!
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There are deals out there!   Let me know what you are looking for and if its within reason---We'll find it.

I had a call the other day from a guy who wanted a $200,000 house for $78K----not happening!!!

You are going to pay market value---which is ALOT LESS THAN a few years ago, if you are fortunate you may be able to get it for a little less than market value.    

My question is.......what's wrong with paying market value?    No body is going to "flip" properties in this kind of a market.   We are selling to "end users".   Families/couples who are thrilled to be able to afford a property at the beach that they can enjoy for the next 10 years!!!

We are also selling to a few investors who feel that now is the time to buy and know that the market has only UP to go, so they consider it a good time to invest as a long term investment.

This is what real estate is all about!!
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Please feel free to call or email me anytime as I pretty much work 24/7!

I look forward to hearing from you!

Mary
850-896-5222
http://www.maryblackburn.com/
Sundance Realty
Mexico Beach Fl real estate on Facebook

I Can't Believe its March Already!

Okay 2010 SLOW DOWN!

I'm certainly ready for spring but I swear there are no longer 24 hours in a day!   I used to be able to accomplish most of the important things within that time span, now it just seems I get started and the day is over!!!!!

I'm praying its not just me!!
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Sacred Heart Hospital is having an open house this coming Saturday.  I've talked to some folks who have already toured the facility and they say it is quite impressive.
I've attached a photo of the new facility!

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On the REAL ESTATE FRONT:   We haven't sold condos for several years, but we sure are now!  Starting at $119,000 you don't have to wonder why!  These are new condos just one block from the beach.  Very nice complex with a beautiful pool.  The majority of units are in the $140K range for 2 bedrooms and $160K range for the 3 bedrooms.

HOA fees are a stumbling block for a lot of buyers.  The 2 bedrooms in the particular development above have HOA fees of $395/mth, the 3 bedrooms are $606/mth.

However keep in mind this pays for insurance for the building + water/sewer/trash (A $100/mth bill)+ basic cable.   Your only bill would be electric + if you wanted a phone line or an upgraded cable line.    You also have no maintenance----no more having to spend your vacation weekend mowing the yard, weeding, pressure washing, painting trim.............

That is worth it alone for a lot of buyers who are buying these to use once a month or more. 

Waterside Condos

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If you are looking for NEW single family homes in the area and just haven't been able to find what you are looking for......you may want to consider buying a lot and building.
Lot prices are starting around $30k and on up.  Construction prices are around $100/sq ft.   Can't beat that pricing to have a brand new custom home!!!!

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SHORT SALE is the current buzz word in the real estate market and I've blogged on short sales many times.   In a short sale the seller is "upside down" on their mortgage (they owe more than the property is worth), they have stopped making payments and are trying to sell it for less than their mortgage amount.   The lender has to approve the offer in this case and they are the ones who actually determine the selling price.   The lender knows that in order to sell the house, they must sell at market value.   So they are 99% of the time releasing the property for much less than what is owed.   However, that doesn't mean they are releasing the seller from any liability.   Sometimes they are!  Sometimes they ask the seller to sign a promissory note for the balance or part of the balance and sometimes they file a deficiency judgment against the seller. 

If you want more explanation of short sales, let me know and I'll be glad to discuss it further with you!

For today, my point in bringing it up is on the buyer's end!     Just because its a short sale doesn't mean you can get it for well below market value.  The bank knows what its worth (because they ask us) and they are going to require fair market value or at least very close to that value.    If you aren't willing to pay that, somebody else is.    You are still getting a good deal!!     Because the short sale process takes several months (many months in some cases) to complete with a lot of work by the agents, it is somewhat fruitless to put in a really low ball offer if you aren't willing to pay close to fair market value.   I understand coming in a little low and letting the bank counter back, but please be willing to pay what they ask.   It's a reasonable price!      Your Realtor can show you the comparables to let you know what the fair market value is!!
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Some more Bible study humor for you:

THE LORD IS MY SHEPHERD
>     A Sunday School teacher decided to have her young class memorize one of the most quoted passages in the Bible - Psalm 23.   She gave the youngsters a month to learn the chapter.  Little Rick was excited about the task - but he just couldn't remember the Psalm. After much practice, he could barely get past the first line.
>On the day that the kids were scheduled to recite Psalm 23 in front of the congregation, Ricky was so nervous. When it was his turn, he stepped up to the microphone and said proudly, 'The Lord is my Shepherd, and that's all I need to know.'
>
>UNANSWERED PRAYER
>The preacher's 5 year-old daughter noticed that her father always paused and bowed his head for a moment before starting his sermon.  One day, she asked him why.
>'Well, Honey,' he began, proud that his daughter was so observant of his messages.  'I'm asking the Lord to help me preach a good sermon.'
>'How come He doesn't answer it?' she asked.
>   
>UNTIMELY ANSWERED PRAYER
>During the minister's prayer one Sunday, there was a loud whistle from one of the back pews.  Tommy's mother was horrified. She pinched him into silence and, after church, asked, 'Tommy, whatever made you do such a thing?'
>  Tommy answered soberly, 'I asked God to teach me to whistle, and He did!'

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Don't hesitate to call me if you have any questions about buying or selling!   There are some great deals out there!!!

Mary
850-896-5222
www.maryblackburn.com
Mexico Beach Sundance Realty
Mexico Beach Fl real estate on Facebook

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Posted via email from Mary Blackburn in Mexico Beach, FL