Happy 2011 from Mexico Beach Fl

I have the feeling 2011 is going to go by even faster than 2010!    I'm already at the end of day 3 and only finished half of my to-do list!!!
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I survived ringing in the New Year!   Chip and I had a plan to take advantage of the Trolley and do a quick stop at some of our local establishments wishing friends and visitors a Happy New Year.  The plan was to make it quick and be back well before midnight----gotta get my beauty rest.   

We walked to Rustic Sands Campground where we were picked up soon by the trolley.  Chip and I made all of three riders.   We travelled to Mango Marley's and Ruby Rumrunners where we picked up about 20 young revelers obviously having a good time.  We then exited the trolley at the next stop, the El Governor.

We bought a beer, talked to a few friends, and caught the next trolley to the Look Out.

I'm not a frequent patron of the Look Out, in fact, its probably been years since I've actually been inside.  But we saw MANY many locals and had a great time socializing!!!    This is where our plan went awry.

We wanted to make one more stop at Regan's Oyster Bar, where we knew we would see many more old friends.   However, the trolley to transport us never came-------we waited, waited, and waited!!! 

After about 2 hours of waiting, Regan's was not looking as exciting as before.   A trolley came, headed in the direction of HOME and we got on!!!  

MADE IT HOME JUST IN TIME TO WATCH THE BALL DROP IN NYC--eastern time.

I did manage to have my 2 beers though---one while celebrating in central time zone and one in eastern time zone.

I still don't know what happened to the St. Joe Beach Trolley that night but............................we all had a good time!!!

I've got a few more pictures on my facebook page if you want to take a look.

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Real estate definitely slowed down a little the last 3 weeks but amazingly, I believe its picking back up.

Lots of buyers.........the problem is actually the amount of inventory.  There just isn't a lot of move in ready single family homes on the market right now.  Buyers are also all about the price --- if its not priced right, they just aren't going to waste their time!  

If you know of anyone who is considering selling, please have them contact me, I'd love to help them do just that!!

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The real estate end of my blog is short and sweet this week because I'm sending out my bi-monthly newsletter with a lot more detailed information. 

Okay, I can check one more thing off my to do list for today!

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Have a great week and remember:

You can have anything you want in life if you just help enough other people get what they want.~Zig Ziglar

2010 Comes to a Close in Mexico Beach Florida

I pray everyone had a merry and blessed Christmas!   I know I did!  My Christmas was quiet (just the two of us)  but good!!    
Below is how my husband wraps his Christmas presents.   Clever I admit but just a tad frustrating to open!!!

Our weather has been unusually FREEZING!    I know I shouldn't complain because I'll get all your emails about what COLD is really all about but.............I live in Florida!   I came here to be warm!!!!     We've had several mornings when the dog's water bowl had a top layer of ice----this is how I measure temperature!!     Of course, the dogs themselves were toasty warm inside either cuddled up in my bed or their bed!

However, we'll be back to normal with 50's-60's  and hopefully the winter weather will be over with for the rest of winter!
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My sister-in-law has turned me on to a delicious sandwich!!!!    Chip has named it the Holiday Sandwhich because the holidays is the only time you'll actually have all the ingredients!!

Turkey, cranberry relish, and dressing (or stuffing if you are up north)!  I like to toast my whole grain ciabatta roll!      I know many of you are probably saying "duh" because you have it every holiday.    But this Thanksgiving was my first and I LOVE IT!   So much so, I made Chip cook another turkey for Christmas just so I could have another "holiday sandwich". 

A big shout out to Pam for my new favorite Holiday Sandwich!!!


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As for real estate............It's been a good year for me.   (All praise to God who continually blesses me in my job).

The prices are half and in some cases much less than half of what they were in 2005!   Because we are at the coast and Mexico Beach is the most beautiful , low key, laid back town on the coast we will always have buyers---and a lot of buyers when the prices are as low as they are now!!!!!

So we (all of the real estate companies) have sold 115 residential properties in Mexico Beach to St. Joe Beach, including Windmark Beach.
(I'm closing on one more today, so that number may go up by a few by the end of the week)

24 of those were short sales.
33 of those were foreclosures.

We have 18 residential properties that are currently under contract.
11 are short sales.
2 are foreclosures.

There have been 48 vacant lot sales.
6 were short sales
16 were foreclosures
Half of these sales were under $56,000!!

There are 5 vacant lots under contract.
4 are short sales
1 is a foreclosure

I'll be going into a little more detail with my monthly newsletter which I'll send out early next week!!!!!

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Our inventory is really quite low.   We have 155 residential properties on the market right now. 
9 are bank owned (included 7 from the condo complex Tranquil Harbor)
18 are short sales.

We really are in need of properties to sell.   If you, or anyone you know is contemplating selling please call me---priced right, properties are definitely selling!!!!!   If you are 'in trouble' with your property, I can help.  Unfortunately,  I've become adept at short sales!
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Happy New Year........................Drink responsibly please!

The trolley will be going up and down Hwy 98 again this year taking passengers up and down the beach, even into Port St. Joe so you can celebrate the New Year twice----once in Eastern time and again in Central time!!!!

God Bless and thank you all so much for your business!
Mary
850-896-5222
http://www.maryblackburn.com/
maryblackburn@mchsi.com

Merry Christmas from Mexico Beach, Fl

Merry Christmas!   I pray you all have a merry and blessed Christmas.  Keep in mind the REASON FOR THE SEASON!
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We had a COLD but fun Christmas golf cart parade.  Below are just a couple pictures!   We had 11 golf carters!   If you have a golf cart and want to participate next year, just let me know!!!   The decorations are fantastic----its amazing how creative some people can get!!!!


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Mexico Beach is right on a time zone line----as confusing as that can get, we do take advantage of it for New Year's Eve!!    You can ring in the New Year at midnight eastern time at several establishments  and then ride the trolley to an establishment in Mexico Beach and celebrate it again at midnight central time!!!
The trolley is free and will take you up and down the beach and even into Port St. Joe!!
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As for real estate................It has been a busy and prosperous year and I'm grateful to all my customers who trusted me enough to help them either buy or sell.   I've made some great friends this year!

I'm expecting 2011 to be equally as busy----cuz I'm still looking for that perfect place for some of you----you know who you are!!!!

I'll be working this week but will take Christmas Eve and Christmas Day off.

Have a blessed Christmas!
Mary
850-896-5222
maryblackburn@mchsi.com

Lots To Do Around Mexico Beach This Weekend

Today is the last day of November!   Where did 2010 go?   I know everybody is busy with Christmas now---decorating, shopping, planning, baking..........Don't forget to take some time and recognize the "Reason for the Season!!"

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Lots of things to do in the area this weekend!!!

Holiday Fresh Market in Apalachicola--This Saturday!

Christmas on the Coast in Port St. Joe--Lots of events in Port St. Joe Saturday

Mexico Beach Christmas Tree Lighting---Sunday.   If you have a golf cart and can participate, let me know, we have to register by Thursday.  I have all the info.  Its a great time!!!!
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Still quite a bit of real estate activity this month!

We'll have a lot of closings in December simply because all the short sales are being approved before the year end!!   THANK GOD!

If you are looking and are not on my email list, send me an email, let me know what you are looking for and I'll send you links to properties that meet your criteria!   Let me warn you though---I'm pretty persistent--I don't give up until  I find you something!!

Call me anytime!

Have a great week!
Mary
850-896-5222
maryblackburn@mchsi.com

Happy Thanksgiving from Mexico Beach

I pray everybody has a family filled, fun filled, food filled and blessed Thanksgiving!!!
We always need to be reminded of how fortunate and blessed we are, so I hope we all spend the day counting our blessings and being thankful for each and every one of them!
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One of my blessings is LIVING IN MEXICO BEACH!   My husband drove up to Atlanta this weekend--came back severely stressed out!!!    I'm not saying there is anything wrong with Atlanta I'm just saying we are soooooo spoiled down here-------no traffic, much less 6 lanes of 70 -80 mph traffic!!! 
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On the real estate front-------its actually been pretty busy!    Five residential properties went under contract so far and I know there are at least 3 offers being negotiated and probably quite a few more than that!!

Again, multiple offers on several properties.     It's amazing how a property can be on the market for quite a while with no activity and then all of a sudden multiple offers!!!!     I've got a couple of mortgages locked in at 4.125% for investment properties---so its no wonder we are busy!!
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If I may, let me ask everybody for a favor!!!    I know I've blogged about this before but it bears repeating.
Realtors make their living by selling real estate.  We only get paid when we close a deal.   Its a very tough and competitive business.   I just recently had someone respond to one of my emails---she's been on my database for a long time---who said they are also getting information from other Realtors in the area.   

I spend a lot of time searching MLS, gathering information, and sending out emails to the individuals on my database.   I really think its important to find and remain loyal to ONE Realtor.    That doesn't mean stick with that Realtor no matter what----if you aren't happy with their performance then certainly choose another, but if they are doing what you requested, if they are keeping you informed of properties as they come on the market, if they respond to all your questions then please give them the courtesy of using them when you want to go look and make offers.  

This goes for Realtors in the same office, as well.   Sally and I are the sales agents for Sundance Realty.  We each have our own customers, we do not share customers----why?   'cuz we do not share commissions!

I know I work very hard for my customers.   There's nothing more disappointing then finding out someone you've been keeping updated on the market for a long time has decided to look at a property with another Realtor simply because they were the listing agent.    Doesn't matter who the listing agent is---I can help you with any property on the market!

Thanks for listening!!!
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GOLF CART CHRISTMAS PARADE

We are having our 2nd annual golf cart christmas parade on December 5th.   This will be part of our Christmas tree lighting.   Santa will be there for pictures, the golf carts will be decorated, Christmas carolers will be singing---and the Christmas tree will be lit!    Wiley from the El Governor does an absolutely fantastic job decorating Sunset Park. 

If you have a golf cart and want to be in the parade, let me know and I'll email you the rules and regs and a registration form!!!!  

It really is a good time.   The golf carts were beautiful, hysterical, musical, creative........come be a part of it!!!

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Have a great Thanksgiving!
I will be working this weekend, so don't hesitate to call!
Mary
850-896-5222
http://www.maryblackburn.com/
sundance realty

The Market in Mexico Beach Fl

Have you seen the advertisement for the Hallmark Christmas ornament that digitially counts down the days, hours, minutes, seconds to Christmas.   GEEZ, WHO NEEDS THAT PRESSURE!!!

It is a constant mental struggle to remember the WHY of Christmas, the WHO of Christmas instead of the "WHAT am I going to buy......"

I love Christmas--I love the REASON FOR THE SEASON and I love shopping----put the two together and you have an awesome holiday!!!!
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I went to the Panama City Car show this past weekend!    Man, what a great car show!   I've posted a couple of pictures.  I'm thinking the purple flame car could be my next car---got the Sundance Realty theme goin' on!     The other car is Chip's favorite Rat Rod.      I must admit they are pretty cool---lots of creativity!
Definitely a new rage!   I've posted more car pictures on my facebook page if interested!

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As for real estate------------the market is good!    Of the last 6 offers I've made recently, 4 of them had multiple offers!!!    The seller has countered all parties with  "give me your highest and best offer" putting the pressure on the buyer!    Buyers hate that!    They understandably don't want to offer too much but what they also need to remember is a property is worth what a buyer wants to pay!   Our buyers are not looking "to flip" properties.   They are end users who are going to use and enjoy the property for a long time---so is $5k, even 10K going to make a difference in the long run---is it worth losing a vacation home that you really want?    If you wait until the interest rates go back up----you are talking about spending A LOT more for that same property even at the same purchase price over the life of the loan. 

Interest rates are still well under 4.5% even for investment properties--as low as 4.125%   Gotta have that 20% down though!

The buyers are out there----its all about the price though---if you don't have it priced right---they will simply move on to a different one.   Motivated sellers are definitely getting a sale!
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Let me know what you are looking for and I'll not only search high and low but I'll update you every time a new property comes on the market or has a price reduction!

We will be closed Thanksgiving day, but certainly working all that weekend!  

Have a great week!
Mary
850-896-5222
http://www.maryblackburn.com/
sundance realty

Christmas Shopping in Mexico Beach

For those of you who want to combine a lovely weekend at the beach with completing your Christmas shopping............this is the blog for you!!!!

Why go to a mall and just look at the run of the mill stuff when you can come to the beach and really ENJOY Christmas shopping and  get some unusual gifts at the same time!!!

The Grove  Mexico Beach-----very cool, very beachy, very reasonably priced furniture, knick knacks, artwork...something for everybody.

Emerald Coast Jewelry  Mexico Beach-----who doesn't like jewelry?    Not only jewelry at this shop though....gifts, photography....all kinds of great stuff!!!    Maybe schedule a family photograph at the beach!!!!

Apalachicola----If you've never been to Apalachicola--you must go!    Lots of antique shops and really unusual shops with one of a kind items!   Great restaurants as well when you stop shopping for a lunch or dinner break!!     Check my calendar for special Christmas events in Apalach.  Only about 40 minutes from Mexico Beach, well worth the drive.

The El Governor  Mexcio Beach-----Not just a hotel!   Great gifts in the gift shop---really cute Christmas ornaments!!!

BeachWalk---Mexico Beach----Great clothing line as well as gift idea and GORGEOUS jewelry!!!

The Port St. Joe Country Club is having a Christmas Bazaar Dec. 10 and 11th  with handmade arts and crafts, stained glass, pottery, hand dyed clothing, t-shirt shawls, specialty breads/jams/jellies....

And, oh yes.....There is a Christmas Holiday Golfing Tournament that weekend as well.  Call Barb Van Treese for information  227-9837

Studio on 4th---Port St. Joe---Beautifully handmade items from local artists!   Get a quality one of a kind gift here!!!


I CAN'T WAIT TO GET STARTED!!!!!!!!

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