The Most In Depth Coverage of the Mexico Beach FL, St. Joe Beach, and WindMark Beach Real Estate Market. Also covering Port St. Joe and Cape San Blas.

Thursday, January 10, 2013
Port St. Joe Named in-"5 Can't Miss Coastal Towns"
Monday, January 07, 2013
Commercial Market Update
244573 - Details: 223 REID AVE, PORT ST. JOE, FL - $84,900
248434 - Details: 106 REID AVE, PORT ST. JOE, FL - $85,000
248219 - Details: 112 REID AVE, PORT ST. JOE, FL - $106,000
247851 - Details: 202 REID AVE, #3, PORT ST. JOE, FL - $120,000
248303 - Details: 107 2ND ST, PORT ST. JOE, FL - $124,900
248090 - Details: 304 WILLIAMS AVE, PORT ST. JOE, FL - $129,900
207845 - Details: 207 REID AVE, PORT ST. JOE, FL - $145,000
243402 - Details: 310 4TH ST, PORT ST. JOE, FL - $175,000
247696 - Details: 160 CESSNA DR, PORT ST. JOE, FL - $197,500
246017 - Details: 309 MONUMENT AVE, PORT ST. JOE, FL - $210,000
244746 - Details: 305 3RD ST, PORT ST. JOE, FL - $220,000
247850 - Details: 202 REID AVE, PORT ST. JOE, FL - $285,000
243802 - Details: 4002 HWY 98, PORT ST. JOE, FL - $425,000
207355 - Details: 314 REID AVE, PORT ST. JOE, FL - $695,000
248269 - Details: 4101 HWY 98, #A, MEXICO BEACH, FL - $2,500
208466 - Details: 3706 HWY 98, #102, MEXICO BEACH, FL - $200,000
246276 - Details: 280 FOUR J'S RD, PORT ST. JOE, FL - $299,000
247081 - Details: 180 LIGHTKEEPERS DR, PORT ST. JOE, FL - $539,900
247079 - Details: 190 LIGHTKEEPERS DR, PORT ST. JOE, FL - $819,100
243472 - Details: 301 REID AVE, PORT ST. JOE, FL - $73,500
244284 - Details: 325 REID AVE, PORT ST. JOE, FL - $135,000
242148 - Details: 112 REID AVE, PORT ST. JOE, FL - $165,000
247183 - Details: 210 COMMERCE ST, PORT ST. JOE, FL - $180,000
247125 - Details: 228 CESSNA DR, PORT ST. JOE, FL - $240,000
245912 - Details: 203 4TH ST, PORT ST. JOE, FL - $350,000
246112 - Details: 2802 HWY 98, MEXICO BEACH, FL - $32,000
245502 - Details: 1202 HWY 98, MEXICO BEACH, FL - $185,000
Sunday, January 06, 2013
Thanks for a great 2011 and 2012- Our Sales and Success
209134 - Details: 4424 WAVE CREST LN, CAPE SAN BLAS, FL - $370,000
208428 - Details: 3706 HWY 98, #302, MEXICO BEACH, FL - $175,000
248117 - Details: 505 GARRISON AVE, PORT ST. JOE, FL - $119,500
248265 - Details: 1120 15TH ST, #2 H 18, MEXICO BEACH, FL - $94,000
247201 - Details: 3050 HWY 98, #B48, PORT ST. JOE, FL - $129,900
247319 - Details: 1012 LONG AVE, PORT ST. JOE, FL - $108,000
247223 - Details: 131 MCCOSH MILL RD, CAPE SAN BLAS, FL - $250,000
247692 - Details: 1302 HWY 98, #1K, MEXICO BEACH, FL - $166,100
248020 - Details: 100 39TH ST., #D, MEXICO BEACH, FL - $155,000
233750 - Details: 3706 HWY 98, #303, MEXICO BEACH, FL - $180,000
237302 - Details: 421 7TH ST, MEXICO BEACH, FL - $155,000
239390 - Details: 171 SEMINOLE ST, PORT ST. JOE, FL - $237,000
239180 - Details: 119 32ND ST, MEXICO BEACH, FL - $350,000
238276 - Details: 123 DESOTO ST, PORT ST. JOE, FL - $209,300
238508 - Details: 115 HERITAGE LN, PORT ST. JOE, FL - $200,000
244346 - Details: 3050 HWY 98, #D67, PORT ST. JOE, FL - $159,000
240364 - Details: 199 HARTLEY LN, CAPE SAN BLAS, FL - $450,000
240579 - Details: 433 15TH ST, MEXICO BEACH, FL - $160,000
239771 - Details: 2101 LONG AVE, PORT ST. JOE, FL - $36,000
242453 - Details: 120 GULFAIRE DR, PORT ST. JOE, FL - $320,000
240814 - Details: 287 PLANTATION DR, PORT ST. JOE, FL - $190,000
243377 - Details: 223 9TH ST, PORT ST. JOE, FL - $40,000
241225 - Details: 8200 PELICAN WALK LN, PORT ST. JOE, FL - $123,000
241405 - Details: 8871 CR 386 NORTH, OVERSTREET, FL - $235,000
241528 - Details: 101 MIRAMAR DR., #D, MEXICO BEACH, FL - $140,000
242963 - Details: 2703 HWY 98, #D, MEXICO BEACH, FL - $117,000
243053 - Details: 8113 ALABAMA AVE, PORT ST. JOE, FL - $225,000
243106 - Details: 712 HWY 98, MEXICO BEACH, FL - $245,000
242157 - Details: 4977 SR 30-A, CAPE SAN BLAS, FL - $168,300
242130 - Details: 17817 FRONT BEACH RD, PANAMA CITY BEACH, FL - $875,000
242131 - Details: 8715 SURF DR, PANAMA CITY BEACH, FL - $445,000
242129 - Details: 103 BID A WEE LANE, PANAMA CITY BEACH, FL - $141,000
242146 - Details: 7640 ROBINWOOD DR, CAPE SAN BLAS, FL - $265,000
242595 - Details: 17729 FRONT BEACH RD, PANAMA CITY BEACH, FL - $144,000
242330 - Details: 320 WYSONG AVE, #A, MEXICO BEACH, FL - $72,000
242733 - Details: 7178 HWY 98, PORT ST. JOE, FL - $187,000
243899 - Details: 4067 CAPE SAN BLAS RD, PORT ST. JOE, FL - $330,000
243803 - Details: 217 HAVEN RD, CAPE SAN BLAS, FL - $760,000
244326 - Details: 8206 PELICAN WALK LN, PORT ST. JOE, FL - $84,000
243219 - Details: 800 HWY 98, #310, MEXICO BEACH, FL - $198,000
243311 - Details: 184 NEPTUNE ST, CAPE SAN BLAS, FL - $135,000
243433 - Details: 151 COURT ST, PORT ST. JOE, FL - $455,000
243837 - Details: 6342 CR 30-A, PORT ST. JOE, FL - $539,000
243350 - Details: 106 EL CENTRO BLVD. N, PANAMA CITY BEACH, FL - $85,000
243801 - Details: 1302 HWY 98, #1L, MEXICO BEACH, FL - $151,500
245271 - Details: 8926 HWY 98, #ALL, PORT ST. JOE, FL - $187,500
245601 - Details: 102 35TH ST, MEXICO BEACH, FL - $223,500
243901 - Details: 4083 CAPE SAN BLAS RD, PORT ST. JOE, FL - $295,000
243903 - Details: 916 AMBER WAY, PANAMA CITY, FL - $155,000
244810 - Details: 130 MONEY BAYOU DR, PORT ST. JOE, FL - $218,000
244089 - Details: 374 SPINNAKER WAY, CAPE SAN BLAS, FL - $249,000
245624 - Details: 105 SOUTH 38TH ST, #11, MEXICO BEACH, FL - $140,800
245305 - Details: 265 PARKSIDE CIR, CAPE SAN BLAS, FL - $150,000
245680 - Details: 3300 HWY 98, #301, MEXICO BEACH, FL - $124,500
244251 - Details: 2202 HWY 98, #309, MEXICO BEACH, FL - $140,000
246473 - Details: 9115 HWY 98, PORT ST. JOE, FL - $609,500
246746 - Details: 3050 HWY 98, #D67, PORT ST. JOE, FL - $168,500
246845 - Details: 304 6TH ST, PORT ST. JOE, FL - $46,000
246178 - Details: 1147 CAPE SAN BLAS RD, CAPE SAN BLAS, FL - $221,000
246801 - Details: 409 FORTNER AVE, MEXICO BEACH, FL - $157,000
246831 - Details: 111 WASHBOARD CT, PORT ST. JOE, FL - $500,000
246837 - Details: 3050 HWY 98, #A5, PORT ST. JOE, FL - $145,000
246170 - Details: 3710 CAPE SAN BLAS RD, CAPE SAN BLAS, FL - $449,000
246518 - Details: 4305 BAY POINT RD, PANAMA CITY BEACH, FL - $123,000
246907 - Details: 108 BARBADOS DR, PORT ST. JOE, FL - $625,000
208837 - Details: 83 PINNACLE DR, #LOT 83, CAPE SAN BLAS, FL - $19,000
247160 - Details: 1 SANDALWOOD TRACE, CARRABELLE, FL - $150,000
247265 - Details: 303 FRONT ST., PORT ST. JOE, FL - $227,000
247324 - Details: 21 OCEAN PLANTATION CIR, MEXICO BEACH, FL - $18,000
247263 - Details: 5 CR 30-A, CAPE SAN BLAS, FL - $90,000
247278 - Details: 175 MONEY BAYOU DR, PORT ST. JOE, FL - $32,500
247314 - Details: 1446 INDIAN PASS RD, PORT ST. JOE, FL - $33,500
247947 - Details: 0 CAPE SAN BLAS RD, PORT ST. JOE, FL - $40,000
248112 - Details: 437 GULF ST, PORT ST. JOE, FL - $30,000
237693 - Details: 115 ST. FRANCES ST, MEXICO BEACH, FL - $27,500
237897 - Details: 8304 TRADEWINDS DR, PORT ST. JOE, FL - $69,500
235968 - Details: 209 FRONT ST., PORT ST. JOE, FL - $200,000
235970 - Details: 109 SALT AIR CT., PORT ST. JOE, FL - $135,000
236168 - Details: 1412 BAYBERRY LN, ST. GEORGE ISLAND, FL - $57,500
236467 - Details: 122 CR 30-A, CAPE SAN BLAS, FL - $88,000
238999 - Details: 114 PALM BREEZE WAY, PORT ST. JOE, FL - $21,000
239380 - Details: 111 CURVE RD, PORT ST. JOE, FL - $132,000
238908 - Details: 221 EAST BAY DR, OVERSTREET, FL - $5,000
239291 - Details: 76 REGATTA DR, #LOT 76, CAPE SAN BLAS, FL - $19,000
240692 - Details: 120 HARBORVIEW DR, PORT ST. JOE, FL - $32,500
241160 - Details: 115 WATERS EDGE DR, PORT ST. JOE, FL - $20,000
241305 - Details: 0 SR 30-A, PORT ST. JOE, FL - $21,000
241143 - Details: 3648 SR 30-A, PORT ST. JOE, FL - $15,000
239781 - Details: 115 TRACE VIEW WAY, PORT ST. JOE, FL - $19,000
239779 - Details: 125 DANCING MOON LN, PORT ST. JOE, FL - $19,000
239782 - Details: 111 TRACE VIEW WAY, PORT ST. JOE, FL - $19,000
239786 - Details: 4233 CAPE SAN BLAS RD, PORT ST. JOE, FL - $100,000
240693 - Details: 124 HARBORVIEW DR, PORT ST. JOE, FL - $32,500
242769 - Details: 7446 HWY 98, #LOT5, PORT ST. JOE, FL - $157,000
242730 - Details: 9240 AUGER AVE, PORT ST. JOE, FL - $42,500
242731 - Details: 6 OCEAN PLANTATION CIR, MEXICO BEACH, FL - $18,000
242732 - Details: 104 35TH ST, MEXICO BEACH, FL - $54,500
242829 - Details: 317 WINDMARK WAY, PORT ST. JOE, FL - $165,000
242596 - Details: 239 BONITA ST, PORT ST. JOE, FL - $33,000
242804 - Details: 1 PAINTED PONY RD, CAPE SAN BLAS, FL - $125,000
243080 - Details: 2309 HWY 98, MEXICO BEACH, FL - $117,500
243135 - Details: 218 NAN NOOK RD, MEXICO BEACH, FL - $33,500
243177 - Details: 405 WINDMARK WAY, PORT ST. JOE, FL - $95,000
241524 - Details: 101 ROBERTS RD, OVERSTREET, FL - $24,000
241781 - Details: 229 PARK POINT CIR., CAPE SAN BLAS, FL - $25,000
241783 - Details: 227 PARK POINT CIR., CAPE SAN BLAS, FL - $25,000
242124 - Details: 116 SOUTH BROOKS AVE, MEXICO BEACH, FL - $20,000
242439 - Details: 580 WALTON LAKESHORE DR, PANAMA CITY BEACH, FL - $101,000
242311 - Details: 225 POLARIS DR, PORT ST. JOE, FL - $45,000
242422 - Details: 335 CORD GRASS WAY, CAPE SAN BLAS, FL - $50,000
242293 - Details: 506 WINDMARK WAY, PORT ST. JOE, FL - $91,500
242445 - Details: 5 PLEASANT REST RD, WEWAHITCHKA, FL - $3,000
244460 - Details: 3743 CAPE SAN BLAS RD, CAPE SAN BLAS, FL - $65,333
244458 - Details: 3759 CAPE SAN BLAS RD, CAPE SAN BLAS, FL - $65,333
244461 - Details: 3727 CAPE SAN BLAS RD, CAPE SAN BLAS, FL - $65,333
244462 - Details: 3710 CAPE SAN BLAS RD, CAPE SAN BLAS, FL - $84,000
244874 - Details: 194 MARNIE ISLAND DRIVE, CAPE SAN BLAS, FL - $55,000
243294 - Details: 133 CORTEZ ST, PORT ST. JOE, FL - $48,000
243259 - Details: 153 NORTH BAY SHORE DR, EASTPOINT, FL - $120,000
243292 - Details: 129 CORTEZ ST, PORT ST. JOE, FL - $56,000
243293 - Details: 131 CORTEZ ST, PORT ST. JOE, FL - $50,000
243628 - Details: 104 ST. FRANCES ST, #LOT 3, MEXICO BEACH, FL - $26,500
244183 - Details: 0 CATAMARAN DR, #LOT 2A, CAPE SAN BLAS, FL - $190,000
244471 - Details: 9117 HWY 98, MEXICO BEACH, FL - $240,000
243489 - Details: 127 SAPODILLA LN, #LOT 11, CAPE SAN BLAS, FL - $92,000
243970 - Details: 8505 TRADEWINDS DR, PORT ST. JOE, FL - $145,000
244655 - Details: 501 PLANTATION DR, PORT ST. JOE, FL - $58,000
244785 - Details: 619 TIDE WATER DR., MEXICO BEACH, FL - $63,000
244795 - Details: 110 WALKABOUT CT, PORT ST. JOE, FL - $12,000
244292 - Details: 14 CAPE SAN BLAS RD, PORT ST. JOE, FL - $265,000
244295 - Details: 14 CAPE SAN BLAS RD, #C, PORT ST. JOE, FL - $120,000
243327 - Details: 215 ST. FRANCES ST, MEXICO BEACH, FL - $27,000
244463 - Details: 3695 CAPE SAN BLAS RD, CAPE SAN BLAS, FL - $55,000
243973 - Details: 539 WINDMARK WAY, PORT ST. JOE, FL - $80,000
243988 - Details: 100 PLANTATION DR, CARRABELLE, FL - $200,000
244032 - Details: 120 CR 30-A, CAPE SAN BLAS, FL - $99,000
246775 - Details: 72 REGATTA DR, #LOT 72, CAPE SAN BLAS, FL - $19,000
245989 - Details: 0 CORD GRASS WAY, #LOT 42, PORT ST. JOE, FL - $35,000
246469 - Details: 0 INDIAN PASS RD, PORT ST. JOE, FL - $72,000
246512 - Details: 105 CONCH DR, PORT ST. JOE, FL - $19,900
245096 - Details: 1757 GROUPER AVE, PORT ST. JOE, FL - $18,000
245060 - Details: 117 MCCOSH MILL RD, PORT ST. JOE, FL - $17,000
245120 - Details: 109 SAPODILLA LN, PORT ST. JOE, FL - $92,000
245107 - Details: 509 WINDMARK WAY, #LOT 25, PORT ST. JOE, FL - $190,000
245417 - Details: 112 CRANE DR, PORT ST. JOE, FL - $12,825
246134 - Details: 3745 CAPE SAN BLAS RD, CAPE SAN BLAS, FL - $122,500
245467 - Details: 212 WATERS EDGE DR, PORT ST. JOE, FL - $24,200
245782 - Details: 200 ST. FRANCES ST, MEXICO BEACH, FL - $19,000
246161 - Details: 124 CR 30-A, CAPE SAN BLAS, FL - $51,000
245796 - Details: 511 WINDMARK WAY, PORT ST. JOE, FL - $120,000
245675 - Details: 217 SIGNAL LANE, PORT ST. JOE, FL - $57,000
246705 - Details: 301 FRONT ST., PORT ST. JOE, FL - $211,000
246958 - Details: 11 SR 30-A, PORT ST. JOE, FL - $76,000
247114 - Details: 117 MCCOSH MILL RD, CAPE SAN BLAS, FL - $35,000
243569 - Details: 100 SANTO THOMAS ST, PANAMA CITY BEACH, FL - $139,000
243568 - Details: 114 HWY 79 N, PANAMA CITY BEACH, FL - $63,920
245502 - Details: 1202 HWY 98, MEXICO BEACH, FL - $185,000
Thursday, December 15, 2011
Happy Holidays - Mexico Beach to Cape San Blas Market Report
I hope that everyone has had a wonderful year. I’m pleased to report that from Mexico Beach to Cape San Blas, there have been more closings in 2011 than any year since 2005. There have already been 413 sales as people continue to buy up the heavily discounted properties. A large majority of these sales were either short sales or foreclosures that have currently accounted for 168 closings in 2011. (There were only 190 sales for all of 2008) There is also an additional 91 properties currently under contract.
Higher sales volume paired with many owners withdrawing their listings (until the market will allow them to sell for higher prices in the future) has decreased the number of properties on the market considerably. There were over 1,450 properties on the market in December of 2006 compared to less than 840 today. The beach properties remain the most active markets and below is the breakdown of where the closings have occurred as well as links to see the properties that have sold in 2011 through December 12th.
Mexico Beach/St. JoeBeach/WindMark-193 Closings-http://www.rafsg.net/RAFSGReports/ListitLib/show_report.aspx?ID=2061345910
Cape San Blas/C-30/IndianPass-143 Closings-http://www.rafsg.net/RAFSGReports/ListitLib/show_report.aspx?ID=2061345911
Port St. Joe/Highland View/Oak Grove- 75 Closings-http://www.rafsg.net/RAFSGReports/ListitLib/show_report.aspx?ID=2061345914
Mexico Beach/ St. Joe Beach/ WindMark Residences-http://www.rafsg.net/RAFSGReports/ListitLib/show_report.aspx?ID=2061353062
Mexico Beach/ St. Joe Beach/ WindMark Vacant lots-http://www.rafsg.net/RAFSGReports/ListitLib/show_report.aspx?ID=2061353066
Cape San Blas/Indian Pass Residences- http://www.rafsg.net/RAFSGReports/ListitLib/show_report.aspx?ID=2061359409
Cape San Blas/Indian PassVacant lot- http://www.rafsg.net/RAFSGReports/ListitLib/show_report.aspx?ID=2061359413
Port St. Joe Residences- http://www.rafsg.net/RAFSGReports/ListitLib/show_report.aspx?ID=2061353068
Port St. Joe Vacant Lots- http://www.rafsg.net/RAFSGReports/ListitLib/show_report.aspx?ID=2061353070

Not just tourism and real-estate sales were up in 2011. The local business climate has been improving and we’ve had some great additions in the area. This is most noticed in Port St. Joe. A new CVS, Dollar General Market, and remodeled McDonalds will greet you now as you enter town from Hwy 98. These updates along with the additions on Reid Avenue are greatly improving the Port St. Joe downtown shopping experience. We love the small town feel and these additions as well as the new hospital and number of other locally owned businesses make it more convenient to live in the area without having to rely on a trip to Panama City for products and services. We also saw the opening of Bailey’s Crab House in St. Joe Beach and Tripletails Oyster Bar in Simmons Bayou. I’ve enjoyed great meals at both of these places and am glad to have them as additional options for fresh seafood. Another place that I recommend trying (that many people haven't been to) is the beautiful Boondock’s Restaurant in WindMark Beach.
Not all businesses have fared well and the turmoil and transition in the banking world should be pointed out. Superior Bank, Coastal Community, and Bayside Savings were all taken over by the FDIC this year. Centennial Bank took over Coastal Community and Bayside. They also reached an agreement in November to purchase the struggling Vision Bank. Superior was taken over by a holding company out of Texas and merged with another bank that was taken over to form New Cadence. Capital City is the only bank still operating under the same ownership in the area that was here in 2005.
Despite all the hardships the local banks have faced, banks have the best appetite for lending that they have had in years. Mortgage rates are near 60 year lows, hovering around 4% for a 30 year mortgage. Banks seem most willing to loan to primary and 2nd home buyers looking to purchase single family homes and townhouses. There is some financing available for condos and vacant lots, but the terms aren’t nearly as attractive for these properties as they are for the single family homes and townhouses. Appraisals are one of the biggest concerns I have in moving forward. Appraisals coming in lower than the agreed contract price is hindering more deals for buyers and sellers than anything else. This can be very frustrating for buyers and sellers. It’s not uncommon for a deal to be cancelled and then the next buyer agrees to pay the same amount as the first buyer and has no problem getting an appraisal at contract price.
New Year’s Eve on the Coast has been attracting more and more people each year as people enjoy celebrating at the local restaurants and bars in Gulf County in the Eastern time zone and then riding a trolley to Mexico Beach and celebrating again in the Central time zone. It’s a fun experience known as “Celebrate Safe, Celebrate Twice” that I recommend everyone giving a try.
One of my favorite local events is the Mexico Beach Gumbo Festival that will be held on February 18th. This event raises money for the 4th of July fireworks show. Our cooking team has won the gumbo division twice and Brunswick stew division in 2010. We look forward to competing and helping out again.
Zach Childs
Broker/Owner 98 Real Estate Group
Email: zach@mexicobeachsales.com
Cell: 850-819-0833
Fax: 888-382-9608
WWW.MEXICOBEACHSALES.COM
WWW.98RealEstateGroup.com
Tuesday, October 04, 2011
Thursday, August 25, 2011
Good Summer - Mexico Beach to Cape San Blas Market Update
The real estate market continues to be full of buyers looking for good deals. 2011 is well on its way to having the highest number of closings out of any year since 2005. The coastal markets have been gaining momentum in regards to the number of closings steadily of the last 4 years. From January 1, 2008 to August 25, 2008, there had been 128 closings. For the same time period in 2009, there were 139 closings. Things have really heated up over the last two years with 223 closings from 1/1/10 to 8/25/10 and this year there have been 273 closings as of August 25th. These sold statistics are for the combined area from Mexico Beach to Cape San Blas/Indian Pass. As of August 25th, there are an additional 102 properties currently under contract. That’s the highest number of properties under contract that I can remember ever seeing. This link will show the 102 properties under contract. http://www.rafsg.net/RAFSGReports/ListitLib/show_report.aspx?ID=2061181005
The Mexico Beach to Windmark market remains the most energetic market with 142 closings and the Cape San Blas to Indian Pass market has been steady with 91 closings as of August 25th. The majority of buyers still want to be close to the beach and the Port St. Joe market remains sluggish with only 40 sales. The vacation rental market in the beach areas had another good year that is helping to lead to additional sales. I sold a beach front home in July on the North End of the Cape was on track to do $100K this year in rental revenue. Some of the prices on potential rental properties are very attractive when looking at their rental returns. The stock market has been extremely volatile lately and I’ve gotten 3 new clients that have pulled money out of the stock market to invest in rental property.
Sales for 2011:
Port St. Joe (40) http://www.rafsg.net/RAFSGReports/ListitLib/show_report.aspx?ID=2061181009
Cape San Blas/Indian Pass (91) http://www.rafsg.net/RAFSGReports/ListitLib/show_report.aspx?ID=2061181008
Mexico Beach/St.Joe Beach/Windmark (142) http://www.rafsg.net/RAFSGReports/ListitLib/show_report.aspx?ID=2061181010
Prices aren’t racing back up, but single family homes continue to do well and some have sold for 3-7% more than comparable homes sold for last year. Even some vacant lots have gotten in on the action in a few areas. Casuna is a subdivision in Mexico Beach about 2 blocks from the beach. The lots are all very comparable. In early June there were 6 on the market priced from $34,000 to $39,900. Recent closing prices over the last 18 months had been closer to the $25K mark and a number of buyers were hoping to get one for $20K at the end of summer. Other buyers decided to make offers and the first one closed on June 15th for $26,500. Then two more closed in early July for $27,000 and then $27,500. That got the other buyers excited and nervous about missing out and one closed on the 25th for $32,500 and another that went under contract in June closed for $26,000. I know those aren’t huge increases, but it’s moving the right direction and most importantly, reducing the inventory. Now there is only one lot on the market in Casuna and it’s priced at $39,900.
The reduction in properties on the market is really a good sign for the overall health of the market and for prices to start going back up. It’s also making it easier for aggressively priced listings to get activity with less competition. I know there are still lots of “for sale” signs when you ride around. However, there is significantly less than there were a few years ago. From Mexico Beach to WindMark, there were 621 listings on the market in August of 2007. There is now less than half that amount on the market with 302 active listings.
For me, it’s been a busy and fun summer. We had terrific year fishing for red snapper. I’ve also been scalloping for the first time in years and I’d forgotten how fun and easy it is. We were able to get a limit in less than an hour in only 3-4 feet of water. I recommend everybody giving this a try. It’s a hopping place down here in the summer with “First Fridays”, Pub Crawls, multiple fishing tournaments, 4th of July Celebrations, Scallop Festival, Aloha Festival, and lots more. This Saturday is the MBARA Kingfish Tournament that my dad is the director of with a captain’s party on Friday at the El Governor. I’ll be there filming the yearly tournament video and giving out door prizes. This tournament consistently draws the largest crowds and had 135 boats last year with the oil scare and 196 in 2009.
POJO Festival is a free concert in St. Joe Beach set for September 16th & 17th. There are some big bands booked including ALO, Honey Island Swamp Band, and The Sheepdogs that are on the cover of the Rolling Stones this month. This should be a great free event and here is the website: http://pojolivemusicfest.com
I haven’t just been having a lazy summer enjoying all of the fun activities and laying on the beach. I’ve had some fun, but also worked like crazy, which is a good thing. From June 1st to August 23rd, I’ve been the top agent on MLS and 98 Real Estate Group has been the #1 sales volume company on MLS from Mexico Beach to Cape San Blas. I had an especially great July and personally outsold all of the other companies in the area, except 98 Real Estate Group. The momentum that 98 has had in our first year has been tremendous and I’m very grateful for all of the support that we have had. Our success has been noticed and we are currently in talks for some very exciting new opportunities.
I’ve been asked quite a bit about what is being built on the West end of Port St. Joe on Hwy 98. It’s going to be a “market” Dollar General. According to this article less than 1% of the 9500 Dollar General Stores are market stores. The store is about twice the size of a regular Dollar General will carry fresh produce, dairy products, and meats. http://www.starfl.com/news/dollar-23452-general-twice.html I look forward to continuing to work with so many wonderful people. Please let me know if there is anything that I can with any of your buying or selling needs.
I recieved this rate update from Amber Lowry at Vision Bank minutes before hitting send and wanted include this info.
Conventional/ FHA & VA / USDA - RD (loan amounts $417k and less):
30yr conventional = 4.375%
15yr conventional = 3.625%
Have a great weekend,
Zach Childs
Broker/Owner 98 Real Estate Group
Email: zach@mexicobeachsales.com
Cell: 850-819-0833
Fax: 888-382-9608
WWW.MEXICOBEACHSALES.COM
WWW.98RealEstateGroup.com
Tuesday, July 26, 2011
“Short sales” continue to have a number of the most attractive asking prices and can’t be ignored. They are usually everything but short and take months to work out, but the buyers often get great deals at the end of the day. Foreclosures are much easier to work with usually, but the better priced ones are getting multiple offers when they are listed. It’s certainly a myth that you can only get a good deal on a short sale or foreclosure. There have been 196 sales so far this year and only 77 have been foreclosures or short sales. Regular sellers know they have to price according to market conditions and often provide some of the best deals of the year. The best deals from Mexico Beach to Windmark were updated today on the TOP 25 and TOP 15 lots at http://www.mexicobeachsales.com/.
Best Lot Deals from Port St. Joe to Cape San Blas: http://www.rafsg.net/RAFSGReports/ListitLib/show_report.aspx?ID=2061092770
Earlier this month, 3 of 98 Real Estate Group's agents participated in the Wounded Warrior Fishing Tournament. All of the wounded soldiers involved had a great time and so did we. This was a great event to be a part of. Below are a few pictures I took from our boat as we pulled out of Port St. Joe Marina.



Zach Childs
Broker/Owner- 98 Real Estate Group
Email: zach@mexicobeachsales.com
Cell: 850-819-0833 Fax: 888-382-9608
WWW.MEXICOBEACHSALES.COM
WWW.98RealEstateGroup.com