November Already in Mexico Beach

I just came back from a week in Texas and the weather today was not very welcoming.  Cold and rainy!

I do believe its supposed to be sunny but cool for the Apalachicola Seafood Festival this weekend!!!
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There's actually been a lot of real estate activity for this time of year.   Ten properties went under contract in the last couple of weeks.    Residential properties under contract recently.    Vacant lots under contract recently.   Several offers being negotiated as we speak!

I've talked to several Realtors in different areas in the last few weeks and they were pretty surprised we've been so busy here!    We are an unusual market though---our market is mostly 2nd home buyers.  There will always be buyers for beach property!   Second home buyers typically have a little more dispensable income and are therefore able to take advantage of the lower prices and low interest rates.
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The "foreclosure freeze" has affected very few properties in the immediate area.  In fact, I know of only one in St. Joe Beach in which the closing has been delayed with no closing date. 
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Just a quick blog today----coming back from vacation has put me a little behind, so I have to play catch up today!

Please don't hesitate to call or email me anytime if you are just starting to look or have been for awhile and are now getting serious!!!

I look forward to talking with you!
Mary
850-896-5222
http://www.maryblackburn.com/

Happy Halloween From Mexico Beach Fl

I pray everyone has a happy and SAFE Halloween this coming weekend!   

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Our Fall weather has been stunningly gorgeous this month!   Cool nights and mornings, sometimes in the high 50's and warming up nicely, low 80's in the day.    I would call this just about perfect weather!

As with the cooling temps comes the TIME CHANGE!!    We'll be "falling back" an hour in a couple of weeks, November 7th to be exact. 

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The Apalachicola Seafood Festival is coming up November 5,6.   Always lots of good vendors--(nothing more decadent than carnival food)  W/ art, crafts, food.   Good music and great place to get some Christmas shopping done!

http://www.floridaseafoodfestival.com/

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On the Real Estate Front:

It has definitely slowed down.   We've had a busy year even with the threat of devastation of the oil spill!

We typically slow down in the fall, so this is normal.    We are by no means, dead though!    I've been saying for the last few weeks that our inventory is really getting low which could mean a turning of the tide here!

We have an abundance of vacant lots but as for single family homes..... we are really lacking.   We have buyers for single family homes (at market value) and very little to show.  Of course, it is still all about the price----EVERYBODY has a budget!   However, with the supply of move in ready homes available, sellers are able to stick to their price a little more.   When there are 5-10 homes that are comparable and competing with each other it was "how low can you go" that dictated the sale.   Now that there may only be 2-3 comparable properties...........the good ole theory of supply and demand kicks in!!!

That being said, sellers cannot assume people are going to over pay.  This is not the time to have an unreasonable listing price if you really want to sell.    It's been shown over and over that when you list close to market value the house will sell!      Who determines market value?    The recent sales!    You'll never find a house exactly like yours, but you will need to adjust a comparable recent sale (within the last 6 months) up or down depending on your specific location and condition. 

Sellers must look at recent data---------you simply must forget the days when you COULD have gotten........$X,Y,Z.      If you really want to sell in the next few months listing the house at market value is critical.  

Below is an interesting stat about the sales activity in Mexico Beach in 2010:

Click and enlarge the chart below!

This just confirms my suggestion that buyers DO have a budget!   In the 'BOOM' years, selling $500,000-$1,000,000 properties was no big deal----now everyone is watching those pennies!

As you can see by the chart above we are selling MORE than last year and the properties under $200,000 are the most popular.  Very few sales above $350k!

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Not only are property values declining so have the interest rates!!!   They are unbelievably low!!

A 30 year fixed rate is now anywhere from 3.875% to 4.25%

A 15 year note is definitely under 4%, 3.25%  to 3.75%

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As always, please don't hesitate to call me anytime with any questions!

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

A man wrapped up in himself makes a very small bundle.~Benjamin Franklin

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

Fall in Mexico Beach Florida

We had a gorgeous week last week!   The temperature was absolutely perfect, beautiful sunny skies, and clear, calm waters!   I love this time of year!!!
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The Art and Wine festival is this weekend!   One of our best events----great art, music, food all on the beach!     Festivals don't get any better than this!!!
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Don't forget that snapper season has been extended for the weekends--Friday, Saturday, Sunday through October and most of November.   They are still plentiful, so book your trip now!
http://charterboat-missmary.com/
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As for real estate.............October has definitely been a little slower, however, 5 properties have been put under contract in the last 2 weeks and I know there are a couple still in negotiations!   Click the link below to see what has just been put under contract:
http://www.rafsg.net/RAFSGReports/ListitLib/show_report.aspx?ID=G356725450
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Some interesting real estate facts for our market in Mexico Beach for 2010:

• When comparing the 3rd quarter of 2009 to this year's, the number of transactions is basically the SAME.  
• Comparing the volume though it is DOWN about 33% ( $60 million vs. $40 million)
• Comparing the AVERAGE SALES PRICE:  DOWN about 33% ($232k vs. $156K)

However-------my company (the top selling company in Mexico Beach)--our stats have us UP in the number of transactions as well as the volume of sales!!!!    Our average price is only down about 10%.
SO, YES, WE ARE DOING OUR JOB-----SELLING SELLING SELLING!

• There are only 26 distress sales (short sales/foreclosures) currently on the market.  Certainly NOT the majority of our inventory!
• 17 out of the 23 residential properties currently under contract are short sales and foreclosures---so they are selling fast!
• We've SOLD 92 residential properties this year so far in Mexico Beach to St. Joe Beach and only 37 of them have been short sales or foreclosures.  

There are still some good deals out there---------if you are not on my email list-----send me a quick email and I'll send you what I think are the best deals on the market!!!!!

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Interest rates are still great--well under 5%!    You will be required to put 20% down for a 2nd home or investment property though!
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STILL A GREAT TIME TO BUY!

Let me know what you are interested in and I'll find it for you!
Have a fantastic week!
Mary
850-896-5222
http://www.maryblackburn.com/
sundance realty

Cool Weather in Mexico Beach Fl

I love it when I can turn off the AC and open the windows and doors!!   It was actually COLD this morning and I had to run around closing those doors and windows, putting on jeans and a sweatshirt!!   LOVE IT!

In the 50's for the next couple of mornings and warming up in the high 70-80's in the afternoon!

Typical October weather is 60's to 80's.   I LOVE OCTOBER!
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Don't forget our annual Art and Wine Festival, October 16th.   This is a definite Mexico Beach highlight!
Great Art is not only on display but auctioned off at great prices!!    The setting couldn't be any prettier as its at the Driftwood Inn right on the beach!!

Doors open at 2:00 cst and you can view the Art displays as well as talk to the artists.   There are food and wine venders, live music........All for only $10.00!
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Another large event in the area this month is the BOW WOW BASH benefiting the humane's society!
This event is in 2 parts, the PAWS IN THE PARK fesitval next weekend, October 9-----great fun with a 5k run (dogs allowed), and hilarious contests for those with 4 paws!!!!

The following weekend will be the party for the humans!!!
Check out all the events at the website below:

http://www.bowwowbash.org/
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I'm still getting the question "are you selling ANYTHING?" and they are always so surprised when I respond "It's been a GREAT year!"       Sundance Realty has sold over $12 million dollars worth of property so far this year with about another 2 million under contract!!    AND we still have 3 months to go!!!

In fact, we have buyers ready to buy but can't find an acceptable property!!!    And its not just the price----many times its the condition!    Our inventory is really depleted of move in ready homes!
We are lacking move in ready homes in the $200K or less price range.

Buyers are willing to buy homes that need work but then it becomes all about the price!

Once the inventory is reduced (NOW)  the concept of supply and demand will start to benefit the seller again.
It's been a buyers market for years---but that hold is starting to slip!!!!

Interest rates are still unbelievably low---4.125% on investment property!!!!

SO.......................its no wonder we've had a fantastic year!!!
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Have a great week!   Don't hesitate to call me anytime--I am available 7 days a week (although I do go to Church on Sunday morning!!!)

And remember............Every thought is a seed. If you plant crab apples, don't count on harvesting golden delicious.~Bill Meyer

Mary
850-896-5222
http://www.maryblackburn.com/
maryblackburn@mchsi.com
Sundance Realty

Real Estate Tax in the Health bill

There has been an emailing going around about a 3.8% real estate tax-----I've been hearing about this on and off for about a year-----below is the best explanation I've been able to find. 

The explanation below comes from a Realtor in Illinois.  

So, not everybody who is selling a house needs to panic as it probably won't affect you, however, if I may inject my own political viewpoint----this is another TAX that is imposed.   Its supposed to apply only to the "rich".  I'm not rich by anyone's sense of the word, but if we keep penalizing people for being "rich" are we all going to strive to be "poor"?      So, if we don't have the "rich" folks around----who is going to hire me or you???



3.8% Real Estate Sales Tax - True or False?


You may have received an email or heard something on Twitter about the 3.8% real estate sales tax that has recently been brought up as an issue with the Health Care Bill (HR 3200). In the emails, the tax is railed against and brought up as an absolute for all Americans selling their homes.

But wait...maybe we should dig further. Is it true? Is it kind of true? Is it blatantly false? Does it lie somewhere in between? Seems this is just another case of email first, tell the truth later.

There is indeed a 3.8% tax in the Health Care Bill. It, however, is incorrectly labeled as a sales tax. It is called a Medicare tax in the legislation and I know we're splitting hairs here, but I think it's important to mention as the use of specific words like this are calculated and planned by people to manipulate people's emotions.

This tax however, does not single out real estate, rather it is a tax on investment income. The key to everything is how the numbers are calculated on whether or not the tax applies to you. The 3.8% Medicare tax is designed to only affect so-called "high earners" and not everyone will pay the tax upon the sale of their home.

The Tax Facts

•There is a new 3.8% tax in the bill.

•It is not a "sales tax" on all real estate transactions.

•It is a Medicare tax.

•Many people will not have to pay this tax.

•It is going to affect so-called "high earners."

•It is not going affect many people.

•The tax comes into effect in 2013.

"High Earners" - Who are they?

The income requirement for so-called "high earners" are spelled out in the new law: $250,000 for married couples filed jointly, $125,000 for couples filing separately, and $200,000 for all others. If you earn more than these benchmarks, you are a "high earner" and therefor subject to the new 3.8% tax, but what you are taxed on helps further eliminate many people.

How is the tax calculated?

One of the emails I've seen states that on the sale of a $400,000 home, you would pay $15,200 as a real estate sales tax (3.8% x $400,000). This is incorrect. There are two incorrect assumptions by the authors of the email; a) that the Medicare tax is based off of sales price alone and b) it applies to everyone (which we know to be false based on the "high earner" income requirement).

The incorrect assumption that the real estate sales tax (aka the Medicare tax) is calculated based on the sales price of the home makes a huge difference. Instead, the tax is calculated based on profit. As investment income, the profit is the sale price minus the initial investment. Going back to the $400,000 home mentioned earlier, let's assume you paid $350,000 for it. You profited $50,000. Based on that, your tax would be $1,900 (3.8% x $50,000). Much better than $15,200, right?

But wait, there's one more piece of the puzzle.

Okay, so you owe $1,900, which isn't that bad in the overall scheme of things. But wait...do you owe $1,900? The answer is a resounding no. Why? Because of the capital gains threshold that is included in the language. You are only charged the 3.8% Medicare tax if your investment income passes the capital gains threshold. How much is that? The capital gains threshold is $250,000 for individuals and $500,000 for married couples filing jointly.

This means that profit over the $500,000 or $250,000 (depending on your marital status) would be taxed at the 3.8% rate (you would still need to be classified a "high earner"). In our $400,000 example above, where you walked away with $50,000 in profit, you would not be taxed. The $50,000 is below the capital gains threshold.

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

Some interesting Real Estate Facts

Fannie Mae conducted a telephone survey from December 2009-January 2010.   Some of the interesting results:

• 64% of the respondents think it is a good time to buy a house, however only  thirty one% think it is a VERY good time to buy.  ( I belive that most people are still a little, ok, very, worried about the future and they are not willing to take a lot of risk!)
• 73% think housing prices will go up or stay the same over the next year. 
• 70% said they believe buying a home continues to be one of the safest investments available. 
• 65% prefer owning to renting.
• The two most common reasons for choosing to rent instead of buy: belief their credit history is not good enough to qualify for a mortgage and they felt they would be unable to afford the purchase and upkeep. 

National Association of Realtors also came out with the national median sales price this week.

• The national median sales price is now $182,600
• In the northeast it is a whopping $263,800
• In the midwest:  $151,600
• In the south:  $156,300
• In the west:  $224,800

What is really interesting is that the median sales price for the Mexico Beach area for this year is $177,500. 

So for a median sales price of $177,500 you can have a home with just a few minutes walk to the most beautiful white sand beach or you perhaps you prefer to freeze in Chicago???

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I also believe it is a VERY good time to buy!

• Interest rates are still under 5%.
• The inventory in our neck of the woods has been significantly reduced, which is going to really affect the supply and demand theory.
• The prices may have plateaued--many of the properties listed at good prices are now getting multiple offers and sellers definitely have a bottom line!

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There are a few good deals left and I'm praying more will come on the market!  There are definitely buyers, in fact, more buyers than properties.    Most buyers are looking for move in ready.    Buyers who are willing to make repairs are out there as well, its just they are really expecting a much lower price!!!
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Please don't hesitate to call me anytime if you have questions about real estate in Mexico Beach, St. Joe Beach, or Port St. Joe!

What lies behind us, and what lies before us, are tiny matters compared to what lies within us.~Ralph Waldo Emerson

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

Last Posting about the Oil Spill for Mexico Beach

Well, according to the State Department we are officially released from being in a State of Emergency.
See the press release below.

I know that we still have "workers" walking up and down the beaches looking for tar balls and such and we still have boats in the water although I'm not sure if they are actually monitoring the water off Mexico Beach or just in the Bay. 

Of course, if I hear of anything of importance I will relay it immediately!!!

Thanks to all of you who vacationed in Mexico Beach throughout this whole fiasco!!!!


FOR IMMEDIATE RELEASE: FRIDAY, AUGUST 27, 2010



CONTACT: PUBLIC INFORMATION (ESF 14): (850) 921-0217


STATE EMERGENCY OPERATIONS CENTER TRANSITIONS TO MONITORING STATUS FOR THE DEEPWATER HORIZON EVENT


TALLAHASSEE – The State Emergency Operations Center (EOC) transitioned today to a Level 3 monitoring status for the Deepwater Horizon event. State emergency response officials will continue to respond to impacts as they are reported to the State Watch Office and ensure proper cleanup occurs as needed.


“Though the State EOC activation has come to an end, the State Emergency Response Team remains committed to protecting Florida’s coastline from this disaster,” said David Halstead, director of the Florida Division of Emergency Management. “Our state has a robust system in place for responding to reports of oil product on our shores and we will continue to be vigilant in ensuring reported impacts are cleaned up immediately.”


The State EOC initially activated on April 30 in response to this event. Today marks day 120 of activation, which is the second longest activation in EOC history, behind the 137 day activation for the 1998 wildfire season.


As part of this transition, the Florida Oil Spill Information Line (FOSIL) will deactivate after today. Callers seeking state information regarding the oil spill should view the Deepwater Horizon Florida website at www.deepwaterhorizonflorida.com or call the BP Community Information Line at 1-866-448-5816 or the Gulf Coast Claim Facility at 1-800-916-4893.


The most recent seven days of oil impact reports received by the State Watch Office and any continuing impacts to Northwest Florida’s coastline as a result of the Deepwater Horizon oil spill will be posted on the Deepwater Horizon Florida website at the following link: http://www.dep.state.fl.us/deepwaterhorizon/impact.htm. Potential oil sightings should continue to be reported to the State Watch Office at 877-2-SAVEFL (877-272-8335) or by dialing #DEP from most cell phones.


It is likely that beaches in Northwest Florida will continue to receive isolated impacts, mainly scattered tar balls, in the coming months caused by natural tides and weather conditions. It is possible that immediately following any tropical activity, lingering ocean swells and higher tides could push offshore tar ball fields closer to the coast. State emergency management officials continue to coordinate with federal, state and local
partners to ensure that any further impacts to Florida’s coastline are removed quickly and efficiently.


State emergency response officials remain dedicated to protecting Florida’s beaches and the health and well-being of its residents, visitors and wildlife. Visit www.deepwaterhorizonflorida.com or follow www.twitter.com/FLDEPalert to learn more about Florida’s response to the Deepwater Horizon incident, find a listing of phone numbers, and more.



 

Happy September From Mexico Beach

We could not have asked for better weather!   It has been a simply gorgeous weekend at the beach!
It was great seeing everybody down for the last holiday weekend of the summer although I know many many people who will still be coming down every weekend no matter what the season!!!

As usual, I worked this weekend!  Absolutely not complaining because as I've said a zillion times before I LOVE MY JOB!

I had only one scheduled appointment but had lots of calls from people down for the long weekend deciding its time to get in to the game.  I ended up showing property all day long yesterday to several new customers!  

 If I've heard it once, I've heard it 10 times in the last couple of months "I've been looking for years and never thought I'd be able to finally afford a vacation place in Mexico Beach".
With prices down and interest rates at unbelievably low rates---they can finally realize their dream!!

As a matter of fact, we are struggling to find properties that meet all of our buyers needs.   Our inventory is down, so any property that is priced to sell-----is selling!

Price is determined by location and condition.  Unfortunately for sellers, if you've not lowered your price in the last 30 days, you probably need to! 

Back to interest rates:  15 year fixed rates are now 4% and less!!!!
                                  30 year fixed rates are 4.2 to 4.6%
                               
I've had a lot of folks ask if the banks are lending----the answer is resoundly yes!!    You need good credit and willing to put down 20% for a 2nd home. 

I sent out my newsletter last week.  I include specific information about what properties have sold, are under contract as well as what I consider to be the best deals.    If you are a new reader and want to receive my twice a month newsletter, just send me an email! 

Have a fantastic week and take the time to do something unexpected for somebody this week!
Mary
850-896-5222
http://www.maryblackburn.com/
maryblackburn@mchsi.com
sundance realty

Buyers Market in Mexico Beach Fl

Well, August has flown by and what a great month for real estate!

NINETEEN residential properties were put under contract just in the month of August!!!   Two have already closed because they were cash, quick closes!!!

We are showing and writing contracts like crazy!!!!  

Lots of buyers----------in fact more we've got buyers ready to buy and don't have enough inventory to show them.   Most buyers are looking for move in ready, with little work to do.  

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Interest rates are absolutely unbelievable!!    3.75-4.25 for 2nd homes.  20% down and good credit.

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Just a brief blog today---gotta go show property!

Have a great week.

Don't hesitate to call if you want to look at anything this week!!!

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

Mexico Beach Beach!

Wanted to send out a quick update on the oil spill and Mexico Beach!   I had someone send me a picture of a gooey oil blob Monday.  They found it on Mexico Beach over the weekend.  They notified the authorities and I guess it was sent in for analysis.  

I must confess I don't always read the Star paper, but there was an article in it last week about tarballs on the Cape.

The link is below.

http://www.starfl.com/news/tar-21431-balls-debris.html

So, I guess we have not come out totally unscathed---I guess that would have been a sure miracle!!

Please feel free to email me any pictures or information you have about any oil found here as I want to be as honest and accurate as possible.   

Thanks for your help!!
Mary
850-896-5222
http://www.maryblackurn.com/
maryblackburn@mchsi.com

Mexico Beach Fl Real Estate

We had a hellacious thunderstorm last night but I awoke to a beautiful sunshine filled morning!!!

The local schools are back in session now so things have quieted down here a little.  We'll still have a lot of weekenders enjoying our beautiful beaches though!
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The MBARA kingfish tournament is this weekend!    We expect a great crowd!   Friday night is the Captain's meeting at the El Governor---sausage, beer, door prizes!   Only $150 to register your boat and you get a free MBARA T-Shirt + other goodies too!
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On the real estate front-----it's been a busy month!!    TWELVE properties have been put under contract this month---That's one every other day!!!!    The buyers are out there snapping up the good deals!!!    
We have no oil, interest rates are SO LOW ITS UNBELIEVABLE ( 4.3% on a 30 year note--are you kidding me?????),    Prices are down--------what more can a buyer ask for??

We have properties now at prices that will cash flow----its been years since that's happened.

If you've been waiting to buy----you may want to jump in!

Give me a call and we'll start looking!
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Have a great week and hope to see you this weekend!
Mary
850-896-5222
http://www.maryblackburn.com/
Sundance Realty

BUSY BUSY BUSY REAL ESTATE MARKET!

Its just soooo nice to be able to talk about something other than the oil spill!    Which, of course, we are still keeping an eye on.    However, we have pretty much been given a clean bill of health by the NOAA as they have predicted no recoverable oil offshore of our beaches off Mexico Beach.   Federal waters have been opened up to fishing again. 

There is going to be long term testing of the waters and fish in the Gulf due to the impact from the oil spill but as far as we know----our beaches, water, and fish are CLEAN!!!

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I'm not sure if the capping of the oil had a direct impact on the increased interest in real estate or not but we have been BUSY!!!!   Seven homes have been put under contract so far in the last 2 weeks, one more at least, will be contracted by the end of the day.

There are still lots of buyers looking---homes that are priced right based on condition and location are getting offers!!!    Any seller who is really trying to sell must take another look at their pricing!    Prices have consistently dropped this year.   Foreclosures and short sales are certainly dictating the pricing. 

At one time, pricing $50,000 above what your bottom line was was acceptable.  Today those homes are not even getting looked at.  You must be priced close to what you are willing to accept----no doubt buyers are still going to start low but................in order to get an offer you have to get people in the house.   If priced way above market value---no one will even want to get in!

Condition is also important to today's buyers.   Repairing necessary items now will cost you less in the long run as buyers will discount any purchase price by considerably more than the repair amount if they have to do it!!!

So if you are looking to sell.............make those repairs now and make a price reduction if you aren't getting any action!!!
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Interest rates have lowered again!    Well under 5% and even under 4% for home equity loans!
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The Annual MBARA Kingfish tournament is in 2 weeks!    The sausage has been ordered for the Captain's party Friday night at the El Governor.     Only $150 to enter your boat!!   
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If you are looking to buy or sell don't hesitate to contact me anytime!!!

Thanks and have a great week!
Mary
850-896-5222
http://www.maryblackburn.com/
Sundance Realty

School has Started!

Port St. Joe schools welcomed the kids to school today!    Praying all students and teachers have a FABULOUS year!!

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The Scallop festival was a big hit this past weekend!   Lots of food---why does festival food smell soooo good.    Great music as well!     It was HOT, but what do you expect in August!

I bought some beautiful earrings from my friend and wonderful artist Pam Hall!

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As for real estate........we've been busy!    Even multiple offer scenarios on the good deals!

The oil well has been capped, so far we've escaped any oil impact on our beaches, and people are discovering and re-discovering our little strip of paradise here!   

The majority of our sales continue to be short sales which are being approved slightly faster than when we first started doing them.   I'd bank on waiting 1-3 months for approval though!

Just a quick update on what a short sale is:   the seller owes more on the property than what it is worth.  The seller can not afford the payments anymore so they apply for a short sale.  They list the property for sale, get an offer for at or near market value and ask their lender to release the property for less than what is owed.    They negotiate with their bank to forgive them the balance of the debt or other terms acceptable to them. 

A short sale is basically a pre-foreclosure situation.

If you are in a situation that a short sale may help you out, don't hesitate to contact me and I'll do my best to help you.
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MBARA is having its annual Kingfish tournament the 27th-28th of August.   We were afraid the oil spill would shut it down, but I'm pretty optimistic the tournament will go on as planned.     Parts of federal waters are still closed, but there are plenty of kings in State waters, so we should have a good tournament!
Captains Party at the El Gov. Friday evening.  Tournament starts Saturday morning until 5:00.  Awards shortly after!!!    It's only $150 registration for each boat!

Let me know if you have any other questions!
Hope to see you there!!!
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If you want to receive my email blasts about good deals, reduced prices, new foreclosures....send me an email with your criteria as to what you are  looking for and I'll send you properties from now until you find that perfect place!  Please include your telephone number so I can touch base with you!

Have a good week!
Mary
850-896-5222
http://www.maryblackburn.com/
Sundance Realty

On surface of Gulf, oil is vanishing quickly

On surface of Gulf, oil is vanishing quickly


RARE GOOD NEWS: Several concerns remain; debate turns to when to scale back response

By JUSTIN GILLIS and CAMPBELL ROBERTSON NEW YORK TIMES

July 28, 2010, 9:23AM



The oil slick in the Gulf of Mexico appears to be dissolving far more rapidly than anyone expected, a piece of good news that raises tricky new questions about how fast the government should scale back its response to the Deepwater Horizon disaster.



The immense patches of surface oil that covered thousands of square miles of the Gulf after the April 20 oil rig explosion are largely gone, although there continue to be sightings of tar balls and emulsified oil here and there.



Reporters flying over the area Sunday spotted only a few patches of sheen and an occasional streak of thicker oil, and radar images taken since then suggest that these few remaining patches are quickly breaking down in the warm surface waters of the Gulf.



John Amos, president of SkyTruth, an advocacy group that criticized the early, low estimates of the size of the BP leak, noted that no oil had gushed from the well for nearly two weeks.



"Oil has a finite life span at the surface," Amos said Tuesday, after examining fresh radar images of the slick. "At this point, that oil slick is really starting to dissipate pretty rapidly."



The dissolution of the slick should reduce the risk of oil killing more animals or hitting shorelines. But it does not end the many problems and scientific uncertainties associated with the spill, and federal leaders emphasized this week that they had no intention of walking away from those problems any time soon.



The effect on sea life of the large amounts of oil that dissolved below the surface is still a mystery. Two preliminary government reports have found concentrations of toxic compounds in the deep sea to be low, but the reports left many questions, especially about an apparent decline in oxygen levels in the water.



The effect on sea life of the large amounts of oil that dissolved below the surface is still a mystery. Two preliminary government reports have found concentrations of toxic compounds in the deep sea to be low, but the reports left many questions, especially about an apparent decline in oxygen levels in the water.



And understanding the effects of the spill on the shorelines that were hit is expected to occupy scientists for years. Fishermen along the coast are skeptical of any declarations of success, expressing concern about the long-term effects of the chemical dispersants used to combat the spill and of the submerged oil, particularly on shrimp and crab larvae that are the foundation of future fishing seasons.

A combination of factors



Scientists said the rapid dissipation of the surface oil was probably due to several factors. The Gulf has an immense capacity to break down oil, which leaks into it at a steady rate from thousands of natural seeps. Although none of the seeps is anywhere near the size of the Deepwater Horizon leak, they do mean that the Gulf is swarming with bacteria that can eat oil.



The winds from two storms that blew through the Gulf, including a storm over the weekend, also appear to have contributed to a rapid dispersion of the oil. Then there was the response mounted by BP and the government, the largest in history, involving more than 4,000 boats attacking the oil with skimming equipment, controlled surface burns and other tactics.



The winds from two storms that blew through the Gulf, including a storm over the weekend, also appear to have contributed to a rapid dispersion of the oil. Then there was the response mounted by BP and the government, the largest in history, involving more than 4,000 boats attacking the oil with skimming equipment, controlled surface burns and other tactics.



Some of the compounds in the oil evaporate, reducing their impact on the environment. Jeffrey Short, a former government scientist who studied oil spills and now works for the environmental advocacy group Oceana, said that as much as 40 percent of the oil in the Gulf might have simply evaporated once it reached the surface.



An unknown percentage of the oil would have been eaten by bacteria, essentially rendering the compounds harmless. But other components of the oil have most likely turned into floating tar balls that could continue to gum up beaches and marshes, and may represent a continuing threat to some sea life. A band of tar balls three miles by four miles was discovered off the Louisiana coast Tuesday.

'One day at a time'



Thad Allen, the retired Coast Guard admiral who leads the government's response, has emphasized that boats are still skimming some oil at the surface. He said the risk of shoreline oiling might continue for several more weeks.



Still, it is becoming clear that the Obama administration, in conjunction with BP, will soon have to make decisions about how quickly to begin scaling down the large-scale — and expensive - response effort. That is a touchy issue, and not just for environmental reasons.



Still, it is becoming clear that the Obama administration, in conjunction with BP, will soon have to make decisions about how quickly to begin scaling down the large-scale - and expensive - response effort. That is a touchy issue, and not just for environmental reasons.



The response itself has become the principal livelihood for thousands of fishermen and other workers whose lives were upended by the oil spill. More than 1,400 fishing boats and other vessels have been hired to help deploy coastal barriers and perform other cleanup tasks.



Rear Adm. Paul Zukunft of the Coast Guard, coordinator of the response on the scene, said that any decisions about scaling down the effort would be made only by consensus, and only after an analysis of the continuing threat from oil in each region of the Gulf.



"I think it's going to happen one day at a time," Zukunft said.











John Dunaway



Associate Publisher – Panama City Beach

Mexico Beach Still Oil Free

Well, the Storm Bonnie fizzled out to be a pretty big nothing---that's a good thing for everybody.   The biggest impact she had was it put working on the oil well off many days.   I thought it was a little silly for them to remove the boom from St. Joe Bay for this storm but I guess its better to be safe than sorry.

I believe they will be resuming their work at the oil well within the next several days.   At least the well was capped during this time and seems to be holding.   No more free flow of oil!! 

The last time I blogged the oil plume was 125 miles from Panama City, now its 160 miles---still heading AWAY from us!!!!    

We've had no oil impact up to this date and its looking increasingly good that we may never have any impact!!!

Finally my phone calls asking about the oil spill have stopped and are back to calling about property!!!

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Inquiries, showings, offers have definitely increased within the last week or so.    In fact, its been downright busy again!!!

I don't believe the threat of oil has had any huge impact on the real estate prices here-----it did ruin several deals-----It would be interesting to talk to those buyers now that walked away from some pretty good deals to see if they regret making that decision.

Our prices have fallen slightly since the oil well fiasco begun although I'm not sure it had anything to do with the oil.  

There are some good deals out there-----you never know what someone is going to take unless you make them an offer!   

Interest rates are still hovering around 5%.
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If interested in buying or selling give me a call!!

Have a great week and below are my words of wisdom for this week!

And don't forget..............The carpet said

KNEEL DOWN AND PRAY

Quick Oil Spill Update

The oil plume is over 125 miles from Panama City, so a little farther than that from Mexico Beach!   The winds are now blowing it westward, away from us again.  

The huge news, of course, is the well has stopped gushing and the relief wells, which is the permanent solution, are ahead of schedule!

There is a tropical wave near Puerto Rico, which we are keeping an eye on.   Hopefully it won't turn into a tropical depression and cause a lot of wind and wave action to move the oil plume our way. 

As of right now---for this coming weekend-----we are beautiful!    Open for business, sugar white sand and blue green water!!!!

Mary
850-896-5222

Update for Mexico Beach

There has been no oil gushing from the well going on 36 hours!!!   I heard this morning the relief wells may be completed by the end of this month instead of mid August!      I don't know why this has taken so long but better than never!!!

Mexico Beach has not had any oil sightings from the DeepWater oil spill and I'm becoming more and more optimistic that we may not ever have any oil impacts here!

Our beaches remain open, clean, and beautiful!!

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I don't know if there is any connection between this good news and the surge in real estate showings in the last few days but..........................There are a ton of people looking for property!!!     Four properties were put under contract in the last few days and more offers are being negotiated!

We had a fantastic beginning of the year and I believe we are going to end up the summer doing extremely well even with this oil spill.     As I've been saying all year-----lower prices + low interest rates  = sales.

There will ALWAYS be buyers at the beach!!!!!
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If you are looking to buy and haven't yet contacted me, please feel free to call or email me anytime!

Have a great week,
God Bless,
And keep the Gulf Coast in your prayers!!

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

Update on the oil spill in Mexico Beach

The well has been successfully capped although they are still testing it to make sure it is going to "hold" (for lack of a more technical term).   This, of course, is not the end all---the well still has to be plugged to stop the oil from escaping altogether.   The relief wells are ahead of schedule and could be finished by the end of July to mid-august.

The skimmers are working more effeciently and if they ever get that big "whale" skimmer working I think we will have a very good handle on everything.

I don't know why its taken so long, but they have finally gotten some people working on this problem that know what they are doing!!!!

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Mexico Beach has remained oil free--the oil plume is over 140 miles from Panama City, so even farther away from us!!!

I believe we may come out unscathed in this whole mess!   Our beaches are beautiful, the water clean!

We have daily fly overs and boats scouting the area daily----we have no reported oil of any kind from the oil spill!!!
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Our industry, real estate and tourism has been adversely affected due to the threat of oil hitting our beaches simply because it seemed like there was no stopping the oil gushing from the well.

Now, that there has been some containment and it looks like there is an end in sight, and we our beaches have not been impacted, I believe both industries will come back even stronger!!!

If you've been holding off waiting to see what was going to happen---you may want to get off that fence while interest rates are still so low, and sellers still motivated!!!

We have continued to show property and write contracts during all this, albeit at a slower rate than normal----I think that is about to change!
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Please feel free to call me anytime!
Mary
850-896-5222
http://www.maryblackburn.com/

Weekend update Mexico Beach Fl

The winds have shifted and are now expected to push the oil plume this way (I mean east of where it is right now) over the next several days.  However, the winds right now are light.

It still has a ways to get to our beaches, and there is no expectation it will reach Mexico Beach over the next 3 days------that's as far out as they predict.  I believe it will take longer than that and the winds would have to continue to blow it our way for quite some time. 

So for right now................our weather is gorgeous, the beach is clean, the water wonderful......come and enjoy!!!!
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Federal waters are closed out to the Cape.  State waters are still open, up to 9 miles out from Mexico Beach.   

I talked to some friend who went fishing yesterday---They went 35 miles out---to Federal Waters that are not closed and caught a ton of fish...................Snapper, Grouper, Amberjack!!!    They had a great time!!!

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As for real estate---------yep, its slowed way down!!     We are still showing property and signing contracts although not at the pace we were before the O. S. (oil spill).    

The people that are looking and buying are people who feel extremely confident that now is a great time to buy---prices down, interest rates just over 4%, the oil may or may not come.    If it does come, we clean it up and move on!   They are buying for the long haul!
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If you are looking to purchase, give me a call and we'll get started looking!

Mary
850-896-5222
http://www.maryblackburn.com/
Sundance Realty
Facebook page

Oil Spill update for Mexico Beach Florida

Just a quick update:

The weather has certainly been working in our favor.  The winds have pushed the oil plume west instead of our way!!    We are right now not seeing any oil impact at all---should be another beautiful weekend in Mexico Beach!

Federal waters are closed for fishing however--State waters still open!

Don't hesitate to call if you have any other questions!

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