Mexico Beach Gumbo Cook off

It couldn't have been a more beautiful day in Mexico Beach!    We had a tremendous turn out for the Gumbo Festival!!!      While our gumbo didn't win any official awards it was certainly rewarding for all of you who came by and said our gumbo was delicious!!!!

Tom and Anna YOU ARE THE BEST!!!!   

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The real estate market continues to be pretty busy!       It amazes me how many people will say " so is the market picking up any?"    THE MARKET IN MEXICO BEACH IS DOING GREAT!!   We were extremely busy in 2010 and 2011 is starting off to be an equally busy year!!     The reason why is because our sales prices are significantly reduced.   When our prices are as low as they are right now, WE HAVE THE BUYERS!!!

They aren't making any more beach front!!

Of  course, it is all about the price!    Our buyers are certainly educated and are not willing to over pay!    If your property is listed at $500,000 but it would probably only appraise for $350,000 BUYERS AREN'T GOING TO PAY $450,000!!

A sale is based on location, condition, and price.      If your property is priced according to that location and condition it is going to sell!!!

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Six residential properties were put under contract just last week. 

Click here to see them.

Three properties closed last week as well. 

Click here to see the sales.

Vacant land is continuing to have a rapid decline in value.   Lots just off the beach are selling now at $20,000-$50,000!!   Yikes!!       Lots now under contract and sales in February.

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If you have property in Mexico Beach or St. Joe Beach and are considering selling, please give me a call!  

If you are looking to purchase and haven't formed a relationship with a Realtor yet, give me a call----I'll find what you are looking for no matter how long it takes!!!     I'm dedicated, persistent, readily available, knowledgable.....can't think of any more adjectives right now!!!!  I'll definitely keep you updated on the market as I send out daily email blasts as well as my newsletters and blogs!!

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Have a great week!!!

Mary

850-896-5222

http://www.maryblackburn.com/

sundance realty

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Happy Valentine's Day from Mexico Beach

The best Valentine gift I could have is today is SUNSHINE AND WARM TEMPS!   We are supposed to be sunny all week with temps in the mid to high 60's!!   Hallelujah!!
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We've been relatively busy this month.......

Five residential properties put under contract this month. 

We have a total of 14 properties under contract---7 are short sales, 2 are foreclosures, leaving  the other 7 as regular transactions!!!

Quite a few offers are still being negotiated on several other properties as well.

We've had 4 residential closings so far this month.    None of these were advertised as short sales, although that doesn't mean the seller didn't lose money!!!
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Just to give a quick recap of short sales------this is where the seller has a mortgage MORE than what the property is now valued at.   The seller applies for a short sale with their lender to take LESS than what is owed.    The lender in most cases is approving our short sales.  This process can take anywhere from 30 days to 4-5 months depending on the lender.    

Most of the banks will not consider a short sale unless the seller has missed some payments.  I am not encouraging you to stop making payments, but if you are experiencing difficulty making payments please contact your lender and start discussing your options!!

You will have to list the property with a Realtor and get it on the market at what it is worth RIGHT NOW, not what you owe on it.  

You will have to provide your Realtor with your account number, financial information (tax returns, savings, checking account statements, list of expenses, paycheck stubs...) and your Realtor can be the middleman between you and the bank to negotiate the deal.    It is a frustrating and time consuming process for the seller, so let us do that work for you!!   

You will also have to write a hardship letter stating why this mortgage payment has become difficult.

If the lender approves the short sale they can either release you from the mortgage completely marking the mortgage paid in full OR they can ask you to sign a promissory note for the balance or portion of the balance, OR they can ask you to bring some cash to the closing, OR they can just retain the right to file a judgement against you for the deficient amount.     Of course, the first option is the best!!!!

A short sale for a buyer is different than a regular transaction in a couple of ways...........The offer is first submitted and approved by the homeowner--this is usually done in the typical 48 hour time frame.   Then the offer is submitted to the bank for lender approval----the buyer must just be patient and wait........and wait........and wait.     During this time the offer is going through the lender approval process.   The lender can accept the offer, they can counter back at a different amount, they can reject the short sale. 

So, yes, after all that waiting, the deal may not work out.    Most of the time it is worth the wait.
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I have worked many short sales successfully.  If you are experiencing difficulty, don't wait....give me a call and let us work together to resolve the problem!!!
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Have a great week everybody.........................tell someone you love them!!!!!!

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


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Don't forget our annual Gumbo Cook off the 19th!!!

Be sure to try the WINNING gumbo at our tent "Mexico Beach Sundance Realty"

and the WINNING brunswick stew at my brother-in -law's tent (Mike Blackburn).

Everybody is seeking Florida Sunshine

It's been extremely active for this time of year especially with all the bad weather.    I actually think the bad weather has pushed some buyers to pull the trigger----buyers from up north are tired of digging out of the snow and know our prices are down so they've decided to buy that 2nd home, that home for future retirement!!

What is really amazing is the multiple offers on properties!    I know the two properties below had multiple offers within days if not hours of being publicized. 

Waterside condo at $156,000

8 Hwy 98

Both properties were at drop dead awesome prices and are probably going to be purchased above those list prices!!
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I've been preaching for a while now, that if you find a place you like, you better make a move because it will be gone---------if you think its a good property at a good price, chances are several other people do too!!!!

If you are considering making an offer, it is best to have all your paperwork in order before making that offer---if its a cash offer:  have proof of funds ready---this can be a letter from a bank that says you have the money available, it could be some kind of banking statement.

If you need financing, be sure to have a pre-approval letter from a bank.  This does not obligate you to use that bank but it does give the seller a little bit of confidence that you won't have problems getting financed. 

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Properties that are listed at exceptional prices are of course being snapped up quickly.   However, it doesn't cost you anything except a little time to MAKE offers, and this is the time to make offers no matter what the list price is...............offers do need to be close to market value.   If a house next door sold at $400,000, then you can't make an offer of $200,000, but you can make an offer of $375K  for a similar home and see what happens!!!!

You need to make offers based on what similar properties have sold.  Your Realtor has that information!!!!
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Don't forget the Gumbo cookoff February 19th in Mexico Beach.

Check out my calendar for other upcoming events!!

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Sorry this is short and sweet but......................I'm busy!!!!!!!!!!!!!!!
Have a great week!!!

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