Thursday, July 16, 2009

Happy 4th of July- Market Update

Our quiet little area is at the peak of its tourist season. Every motel room and rental that I’m aware of is booked and we are all looking forward to fun filled holiday weekend. There haven't been any dramatic changes since the last update, but many of the best deals have sold. My number 1, 2, 3, and 4 picks on have all sold. June has been the busiest month of the year when it comes to both closings and people viewing properties. This is typical as we get into the summer season and the reason you need to have your property listed now if you're wanting to sell. Most of the buyers remain true end users looking for primary or second homes. There is some speculating on heavily discounted vacant lots. The best news I've had for you in a while is that there are a total of 60 properties under contract right now and inventory levels have come down substantially.

If you want to know what kind of deals people are getting, these are good examples to show how much the market has come down. In a subdivision where vacant lots were selling for $245 K, I sold a new 4 BR 2,000 sq ft home w/ garage in a subdivision with a pool for $235,000. The Windmark Beach foreclosure home that originally sold for $1.4M finally closed this week for $395,000, but the waterfront lot at $299,000 is still available. I also sold the newer townhouse that I told you about last month that was listed at $119,000. It went under contract in less than a week and closed last week for $111,500. I also sold the foreclosed lot right across the road from the beach in Beacon Hill that the previous buyers paid $460,000 for in 2004. On Tuesday it sold for $145,500. There was also a quality lot in a nice subdivision 2 blocks from the beach that sold for $30,000.
Click here to see these properties. I currently have a gulf front home, a bay front lot, a riverfront home, and an interior home under contract. People are looking at all kinds of property and want the deals.

There have been a solid number of both vacationers and interested buyers enjoying the area this summer. Spring Break seemed a little slow and I think that is partly to blame on the bad weather we had. The fishing and diving has been great and it's been good beach weather since June began. I’ve been lucky enough to go fishing and diving a few times and have had some great trips. My Dad and the MBARA recently dropped another $80 K in artificial reefs that will continue to provide everyone great places to fish and dive. Scallop season started July 1st and everyone has been finding plenty. Come enjoy yourself.

There are still some very good deals on the market. You never know how low these properties will sell for until you make an offer. If you are searching foreclosures, you can find them all on and
. You can always see what I think are the top 25 deals on the market for the Mexico Beach Area on (I updated these picks today). If you don't see what you're looking for, tell me what you want and I'll try to find it for you.

Best Deals on the Market
Mexico Beach/St. Joe Beach/Windmark
Vacant Lots:
Cape San Blas/Indian Pass
Vacant Lots
Best Deals in Port St. Joe

I look forward to continuing to work hard for all of you. I appreciate everyone that has helped me lead the way for the first half of 2009 with the most closed transaction sides for any Realtor in our area. Port St. Joe Realty remains the top producing real estate company for the Mexico Beach/ Port St. Joe/Cape San Blas Area in 2009. Most of you know that I’ll be celebrating and helping Mr. Earl cook lunch for over 200 people on Saturday. The Bo Spring Band will be playing that evening around 6:00. I hope to see you there. Mexico Beach will be having a big fireworks show again this year starting around 8:20 CST.

All of 09 Sales (108 Total)
(Click Below to see Sold Properties)
Mexico Beach/St Joe Beach/ Windmark: 41 Sales

Port St. Joe: 17 Sales

Cape San Blas: 35 Sales
North Gulf County: 15 Sales
June Sales (24)
Mexico Beach
: 10 Sales
Port St. Joe: 4 Sales
Cape San Blas: 10 Sales
North Gulf County: 0 Sales

Currently Under Contract (60!!)
Click any of the links below to see the properties under contract
Mexico Beach: 20
Cape San Blas: 26
Port St. Joe: 9
North Gulf County: 5

Have a Safe and Happy 4th of July,
Zach Childs
Broker- Port St. Joe Realty
Cell: 850-819-0833