The Port St Joe Real Estate Blog

Abundant inventory, great pricing, low interest rates, first time homebuyer programs...Opportunities abound.

What will the new year bring for housing and real estate? It's easy to look at all the negative economic news in the headlines and say - there's no sign that 2009 is going to be any better than 2008.

But here's a different perspective to consider. In a research report issued late in December, there are positive dynamic taking shape in the current cycle. The government has intervened aggressively in the markets to push interest rates down -- most notably in the home mortgage sector.

Add in the expected massive economic stimulus package being put together on Capitol Hill with the incoming Obama administration -- and there's a good chance we're going to see a gradual transformation of the downward cycle into a slow rebound over the coming several quarters.

Already there are positive signs of the turnaround:

• Mortgage applications are off the charts, mainly for refis but also to buy houses at affordable prices.

• Rates continue to hover at 50-year lows - five percent and even four and three quarters percent for 30-year mortgages, and still lower for 15 and 20 year mortgage terms.

• Plus we're all paying a lot less at the gas pump, and sharply discounted prices for retail goods and autos.  

There are also some signs that housing prices are stabilizing in some parts of the country. The latest monthly Federal Housing Finance Agency index found home prices UP by six-tenths of a percent in the Mountain states and UP by two tenths of a percent in New England.

Keep your eyes open for the small positive signs that are accumulating out there … because all downcycles tail off and come to an end.

I believe from now until Spring time arrives ( March 15th) it will be the best time to buy a a bargain of a beach house.

Email me or call so I can send you a no obligation list of the BEST BUYS on the market.

DECEMBER HOME SALES Florida's existing home sales rose 27 percent in December, making it the fourth consecutive month that sales activity demonstrated gains in the year-to-year comparison, according to FAR. Statewide sales of existing condos increased 12 percent last month; and December sales of both existing homes and condos were higher than November's statewide figures. Meanwhile, NAR reports that existing-home sales - all housing types - rose 6.5 percent in December compared to November's pace. Read the full story: http://www.floridarealtors.org/NewsAndEvents/n1-012609.cfm

New Lisitng Update:

Residential - DSF
MLS#:	234057 OfficeFile#:	ListPrice:	$210,000
Status:	Active Last Change: 01/05/2009	ApproxSF:	1,718
Address:	226 EIGHTH ST	$/Sqft:	$122.24
	PORT ST. JOE, FL	Bedrooms:	3
Zip:	32456	Baths Full/Half:	2/
MainArea:	06 Port St. Joe	Stories/Loft:	1/
SubArea:	City of Port St. Joe	YearBuilt:	1937
Subdiv:	NO NAMED SUBDIVISION	OccStat:	Vacant
ParcelID:	05030-000R	Posession:
WatFront:		WatView:
LotDim:	62.6 X170	Acres:	0.24
Dir:	Hwy 98 to 8th street
Lot/Blk/Unit:	// Sctn: Twnshp: Rng:
Legal:	CITY OF PORT ST. JOE LOT 24 & 12.5 FT OFF ADJ LOT 26 ORB 281/850 FR JOHNSON

Remarks: Charming Historic Home priced to sell. Renovated in 2003. Exclusively positioned on Port St Joe's 8th street a timeless Floria cottage blends seamlessly with its contemporary tones and is only a stones throw from the Historic Port St Joe Garden Club. Home features: Wood floors, 10' ceilings, custom cabinets in kitchen, plantation shutters in windows, tile in bathrooms, laundry room, 4 porches, large 30x20 storage at back which can be converted into apartament, alley access, BOAT PARKING, 3 fireplaces, room for pool. Walking distance to downtown. Some furniture is included, so don't delay to place a bid for this great deal.

Residential - DSF
MLS#:	234399 OfficeFile#:	ListPrice:	$699,000
Status:	Active Last Change: 01/26/2009	ApproxSF:	1,296
Address:	572 GULF PINES DR	$/Sqft:	$539.35
	PORT ST. JOE, FL	Bedrooms:	2
Zip:	32456	Baths Full/Half:	2/
MainArea:	07 Cape San Blas/S. Gulf	Stories/Loft:	2/
SubArea:	CR 30-A	YearBuilt:	1984
Subdiv:	GULF PINES	OccStat:	Tenant
ParcelID:	06321-625R	Posession:
WatFront:	Gulf Front	WatView:
LotDim:	75X300	Acres:	0.52
Dir:	C-30 A to Gulf Pines Drive.
Lot/Blk/Unit:	// Sctn: Twnshp: Rng:
Legal:	GULF PINES FIRST ADDITION LOT 26 ORB 252/691-692 FR CALHOUN MAP# 54D

Remarks: Fantastic beach house priced to sell. Home features a large living area perfect for entertaining, large porches ideal for lounging. This is the classic beach house you always dream about, maintenance is a breeze, insurance and taxes are affordable. Very nicely furnished and decorated single family home located in a very quiet stretch of peaceful beach. This home is laid out well and all the living spaces are all on one level. The living, dining and kitchen are wide open and are lined with sliding glass doors that lead out onto a furnished screened porch and covered deck.