The Port St Joe Real Estate Blog

Dear Friends,

Spring soon will be here and, the FOR SALE inventory keeps rising. More recently we see REO (Real Estate Owned/Bank Owned) which are coming into the market priced 10% to 15% lower than an equally comparable property.

Cape San Blas Seagrass House sold for $625K in 09-08. Vs.  JUST LISTED Cape San Blas Seagrass Houses asking price of $512K, smaller House. About 18% reductions on the asking price!

And, just like a domino effect the rest of the market follows reducing prices to capture THAT buyer.  Many of you ask...are there any buyers? And the answer is YES. If we watched the MLS and court house records, there are a higher number of transactions contracted and sold in Dec '08-Jan '09 than same period in '07-'08.

Historically as spring approaches, we see an increase in buyer's traffic and like every
Spring we'll sell some of the inventory moved out of the market by the end of April.

Our area is truly NIRVANA this time of the year. Weather is perfect. Crispy cool sunny days, blue skies, and the most crystal-clear water.  Just
ask any of the snow birds from Illinois and Ohio enjoying the local restaurants.

The questions of the year... what could you buy with your hard-earned dollar today?

CAPE SAN BLAS

In today's market one can find a very nice and well appointed Beach house for  about $400K to $500K -  2000 sqft with pool.

A Beach Front house for $545K 4 bed - 3 bath 50' wide lot

A Gulf View lot for $125K - Truly Gulf View

A Beach Front lot for $329K 50' wide

One-half acre lot near the State Park with Gulf Views from $150K - BEST BUY
and JUST LISTED.

C-30A CORRIDOR:  GULF PINES - TREASURE BAY AREAS. FEMA.

A well appointed Bay Front house with over 2800 sqft for $659,873 - SELLER
say bring an offer.

Bay View lot from $75K

Beach Front houses in Gulf Pines Subdivision for $699K 75' and 100' on the
Gulf.

Water Front lots from $450K 50' wide.

INDIAN PASS:

A Gulf Front lot in INDIAN PASS for $229K - $269K with owner financing. 50' wide

A Lagoon Front lot in INDIAN PASS for $275K with one acre. 100' on the water.

PORT ST JOE:

A fixer-upper in Port St Joe for about $70K - 3 bed - 1 bath

A historic cottage, quality craftsmanship completely renovated, open spaces
great for entertaining just half of block from the bay 3 bed- 2 bath, $210K

Interior subdivision lot from $60K

WINDMARK BEACH:

A Bank owned beach house for only $529K   3 bed - 3 bath

A Beach View lot ( Nicest lot in the market) for $299K - LOT 71 -

An interior lot for only $150K JUST LISTED

MEXICO BEACH:

Subdivision lot, about a mile from the water for only $50K .17 / acre
Last Sale in 2008 was $73K -

A canal front condo with BOAT SLIP next to a marina for ONLY $269K 1 bed -
2 bath.

Take Care.

Eli