Does that sound like a recovery in our market to you???

We continue to feel blessed that our team is doing so well, with a little over 20% of all the residential business on the island passing through our hands, on either the list side, the buyer side, or both.   We have been hard at it, through the good years and the not-so-good, and we see our efforts for our customers paying off, as the market comes back.

The sweet spot continues to be beachfront for under a $1M, and it's getting harder and harder to find.  The other hot commodity is bank-owned properties - most of them are priced at or below market, and multiple offers are not uncommon.  Most of my buyers find that the market alerts I send them nightly on their chosen segment of the market are the best tool in keeping on top of new listings and price drops - the time to make the offer is when you see the one you want, at the price that makes sense to you.

Patience is most certainly a virtue, but don't out-wait the market.  I've got buyers who have been patient and kept working with me through the last few years, but who have now found the right property and snapped it up.  The values are still there, but more and more people (twice the number form last year!) are deciding now is the time to buy.

They are in good company! 

But, with the draw we have for early retirees here in our area, there seems to be a growing interest in part-time practitioners who would like to be associated with our hospital, and fill some of the gaps we have here in our area. 

We *love* the idea!

So, if you are an MD interested in making a transition from a big-city practice to a more comfortably-paced one along our beautiful coast, call me!  I can point you to the right people to talk with, and help you find the perfect home to invest in as well!  We'd love to have you.

We did a day in Wakulla Springs for a friend's birthday recently, replete with lunch at the lodge and a boat ride up the river and around the springs.

I have been visiting Wakulla Springs since I was a child, and it never gets old.  And, you see something different every time!  This time, my education was to the presence of manatees over-wintering in the springs.  I found out they just started staying year round about 2-3 years ago.  

They were everywhere!  And just lovely to watch - with the crystal clear waters, it was just magical.  We also saw plenty of turtles, alligators, birds of all types, gorgeous wildflowers, and schools of fish running along beside the boat.

But the highlight was definitely the mama gator we saw with dozens of babies slithering all around her - I'm not sure you can see them in the picture here, but they were about the size of green lizards (anoles), striped yellow and black, and they were everywhere.  Too cool. I've never seen anything like it, as many times as I've made this day trip to Wakulla Springs, nor have I seen it anywhere else!

So, just go, especially if you haven't been in a while.  Magical. 

 So, while we don't have any data on the hatchling success of the nests that were moved, here is the report of our nesting results from 2010, as recorded by Bruce Drye, our resident permit holder for sea turtle work on St. George:

 114 nests were laid on St. George during the nesting season from May through September.  All of these were loggerhead turtle nests.

 46 of these nests were moved to the Kennedy Space Center for incubation, and hopefully hatched there.  The babies were released at that east coast beach.

We lost 2 nests to one of the tropical storms that came through, and we did  have some coyote predation during the season of 16 nests.  We also had 3 nests with babies that were disoriented by artificial lights.  As many of you know, baby turtles almost always emerge from their nest in the middle of the night, and if nature is allowed to take its course, those babies instinctually move towards the horizon, and to the water.  But, they can be distracted and disoriented by artificial lights, and not move towards the water as they should.  When baby turtles do not make it to the water in fairly short order, their chances of survival plummet.

Of the 60 nests that were evaluated on St. George, Bruce and the volunteers recorded a count of 6103 eggs and 3059 live hatchlings who emerged from those evaluated nests.

So, all in all our number of nests was good this year, and we hope for a good year next year.  And no new environmental scares!  

The mama turtles begin crawling again in May... I can't wait!

We continue to carry a high percentage of short sale properties listed for sale, reflecting our market.  Bank-owned properties do not last long on the market - they are typically priced to sell, and they do.

One recommendation we have been making for the last two years is that our buyers who are buying foreclosed properties retain their own real estate legal counsel to look over their title work.  Quite often, bank foreclosures are handled by an asset management company, and contract out their title work to various organizations, almost invariably out of our area.  We have found it to be extremely valuable to our clients to have the title work reviewed by a local attorney, or one they are familiar with from their home area.

And, we were doing this for over a year before all this publicity on paperwork issues with foreclosures came into the media, and banks begin putting holds on their foreclosures. 

It just makes good business sense to review the title for yourself when you are buying a foreclosure.  And, although much of the data is public, it helps to have someone working for you who has easy access to the courthouse when they do run across a document that is not online.   

Again, hats off to our local attorneys, who are doing a great job rising to the challenge of a closing process that has become even more complex! 

Call or email me if you are thinking of buying into this market - we have great local resources at our fingertips for all the services you will need for a safe and successful closing on *any* property along our beautiful coast!

"Today, NOAA is announcing that it will re-open 26,388 square miles of Gulf waters to commercial and recreational fishing in the southeastern portion of the closed area. This reopening, a third of the overall closed area, is being announced after consultation with FDA and under a re-opening protocol agreed to by NOAA, the FDA, and the Gulf states. The reopening of these areas will be effective beginning 6pm ET today.

Since mid-June, NOAA data have shown no oil in the area, and United States Coast Guard observers flying over the area in last 30 days have also not observed any oil. Additionally, trajectory models show the area is at a low risk for future exposure to oil, and fish caught in the area and tested by NOAA experts have shown no signs of contamination.

Between June 23 and July 5, NOAA collected samples of fish, including grouper, snapper, tuna, and mahi mahi from the area where the heaviest fishing will take place. Sensory and chemical testing following the methodology and procedures in the re-opening protocol showed no detectable oil or dispersant odors or flavors, and the results of chemical analysis were well below the levels of concern.

NOAA will continue to take samples for testing from the newly re-opened area, and the agency has also implemented dockside sampling to test fish caught throughout the Gulf by commercial fishermen.

NOAA will continue to evaluate the need for fisheries closures based on the evolving nature of the spill and will re-open closed areas as appropriate.

A map with the location of the re-opened areas is attached and can be found after the area is re-opened today at 6pm EST at http://sero.nmfs.noaa.gov/deepwater_horizon_oil_spill.htm "

Wow - very good to hear.

Our only issue with seafood down here is that we can't get enough of it in the restaurants - particularly oysters - because the fishermen have had their boats in the BP work force and haven't been oystering.  The oyster beds are open, and the oysters are good, when you can get them.  Shrimp and fish are both in good supply, and are delicious - I've had both this past week in Apalach and on St. George, and they were excellent.  At Papa Joe's, the folks who wanted oysters on the half-shell got them, but they were out of oysters to fry, and declined to do the double work of frying me a dozen that they first had to shuck!  The shrimp were an excellent substitution. 

Our real estate market has slowed a bit in response to so many people getting bad information about the oil (the media made it sound like we were all covered with oil, the entire coast of Florida), and being afraid of what *might* happen.  Prices have responded somewhat due to that, plus we are getitng a few more bank foreclosure properties coming onto the market, usually 10% or so under market value, but in as-is condition, stripped out, usually missing appliances, that sort of thing.  The banks price them to sell, and they sell, usually staying on the market just a few days.

So, you just about have to be on a market watch and ready to put an offer in if you're going to go for one of those great bank-owned deals.  You still get a 7-10 day inspection period, but you probably won't have time to plan a trip down to see the property before you put in an offer - they go too fast. 

If you are interested in keeping tabs on things, please let me know, and I can get you set up for a market watch, no problem - I'll need to know a price range and/or a specific location that you are interested in - beachfront, bayfront, south historic district in Apalach, commercial, etc.  Give me a call and we can talk!

Thanks, and for all your good wishes and inquiries over the last few months, thank for keeping us in your thoughts.   We are truly blessed.

The first nest typically appears in the 2nd or 3rd week of May, so we are walking every other day right now, and will go to every day once the first nest is found.

The beach was lovely this morning, wide and empty.  The humidity was so high that it felt like it was raining with the raindrops simply suspended in midair.  You can see the haze down the beach in the first photo.  The wind was whipping really good out of the south as well, as you can see from the surf in the second photo.

No turtle tracks this morning, but the beach was full of birds - sanderlings (I think), lots of gulls, and my second favorite, the ruddy turnstones with their little dark brown neck kerchiefs.  They were busy flipping over seaweed and shells, looking for their breakfast in the surf and rack line. 

(My favorite of all the birds are the black skimmers, but I don't think they are here yet - I haven't seen one, anyway.) 

My hat is off to my sweet cousin Natalie from Colorado for the probably unknown gift of her worn running shoes - she does the Boston marathon, I mean, she is a serious runner.  Her shoes made it to me via her mom and then my mom, and they are a little long, but just perfect for a beach walk.  The walks are very hard on shoes - the sand and salt water eat soles and stitching pretty quickly, so I go through a few pair every year, usually starting with ones that already have some wear on them.   Anyway, thank you, Natalie!!

Here's hoping that the oil slick stays well away and nature and the engineers have time to undo at least some of the worst of the damage we have caused.  If it comes our way, we are prepared to do what we can to save and repair the damage on our shores, but we do very much hope not to have to do that....!

One thing we know for sure, short sales are a very different type of real estate transaction than "normal" sales.  A short sale means that the seller owes the bank more than what he/she is asking for the property, so even if a buyer offers to pay full asking price, there is a short fall that the seller and his/her bank must negotiate. 

To say the buyer has to have patience in this type of transaction doesn't even begin to capture it.   The wait can be months and months, and meanwhile, other good deals come and go, and the summer season comes and goes, and you still don't even know if you're going to be able to buy that house.

And sometimes, the answer from the bank is ultimately "no" - they can't work out a deal with the seller to accept the short sale, and end eventually going to foreclosure. 

But, short sales *can* work, and can get you a very good price for the property, usually a little less than market value.

And, not all short sales are created equal.  Here's what I am seeing as some general factors or traits to look for, and/or to be wary of:

Find out if the listing agent is trained and experienced in working with short sales.  If they aren't, it's almost a guarantee that the seller will not be experienced, either, and the combination can spell disaster.  There is so much paperwork and followup to be done on the seller side that the agent really needs to know how to help them put together a short sale packet for the bank, and ensure it gets where it is supposed to go, or it's a non-starter.

Find out if the seller is willing to work on the short sale, and has his/her packet started already.  If they don't, you've potentially got another non-starter.

Find out how *many* mortgages there are on the property.  One is the best situation, by far, two means you have at least double the effort to get the short sale through.  Again, it's doable, with an experienced agent and a very determined seller, but you'll need to set aside even *more* time to be patient as a buyer. 

Not for the faint of heart, but definitely worth a try if it is *the* property you want, none of the warning flags above are waving, you've got loads of patience, and are prepared to have the answer be "no" at the end of all your patience....!

It's Florida, and the bugs are *always* out.  Sometimes worse than others. 

From what I've seen, the biggest factor is whether the wind is blowing. 

If it's blowing hard enough, there're no bugs.  If it's not, there're bugs. 

Another observation:  the middle of the day is best, late afternoon is worst. 

And yes, if you're going to live here, or even vacation here, it's good to go ahead and prepare to embrace *all* the flora and fauna, rather than being irritated or surprised.  The little bugs are what give our gorgeous birds, dragon flies, frogs and lizards something to hang around for, and we definitely like *them*!   Just wear bug repellant (or put a dryer sheet in yoru pocket, so I've been told), or stay in the screened porch, or stay near or in the water, and you'll never get a bite!

We don't have highrises, or high density anything.

But, on the eastern end of the island, we do have a nice collection of 99 townhomes clustered around 2 pools, with gulf views from every unit - called Three Hundred Ocean Mile or 300 OM for those of us who are St. George real estate geeks.

We never have many of these units for sale at one time - people tend to hang on to them for a long time - some are even still in the hands of the original buyers from when they were built and offered for sale in the mid-80's.   The complex has been nicely maintained, and most of the owners have renovated their units, with many upgrades to tile or wood floors, granite countertops, etc.  There are 1, 2, and a few 3 bedroom units, and owners tend to keep them for personal use as second homes, or put them on the vacation rental market - they are popular rentals.

In 2009, 5 units in 300 OM have sold, and I'm pleased to report that our team has been involved in 4 of the 5 transactions - representing either the buyer, the seller, or both.   Three of the units were 2 bedroom, and the sales prices were from  $248,200 to $293,000 while the two 3 bedroom units sold for $310,000 and $320,000.

Currently, there are 7 units for sale in this complex, 1-, 2-, and 3- bedroom units.

The part of this picture that needs filling in the most are beachfront units for sale, and we're on the look-out, as we have several buyers interested in buying a beachfront unit at 300 OM.  None have sold so far this year, and only one is on the active market now.  If by chance you own one of the 30 beachfront units and are interested in selling, please do contact me!

And, if you are in the market to buy in 300 OM, and would like to be on our watchlist to get automatic notices of any new listings, price reductions, or sales, let me know.  Thanks! 

 I know those hurricane reporters on the weather stations just have to look for something to talk about, and it's been a slow couple of years for them around here, but St. George Island's interaction with Ida is tame at best.

Which we are all thankful for!

A very nice 7.8 +/- acre tract is being offered for sale at about 20% of the original developer's costs - wow.  This parcel contains 300 feet on Apalachicola Bay on one side of US 98, with about 7.5 acres of the tract in uplands on the other side of US 98.

Possibilities for development make for a very interesting discussion - and there are no other parcels like this for sale in this area.  To seriously consider this location, you do have to be ready to be part of the fabric of the outskirts of Apalach.  Those of us who live here largely find the waterfront collection of small commercial seafood houses, boat launches, abandoned establishments and open spaces eclectic and authentic - others might think it looks patchy and messy - but that is what makes Apalach Apalach.

And we love it.

One can argue whether now is the right time to start a development in Apalach, but there's no question that one day it will be the right time, and whoever ends up with this parcel will be sitting pretty - no doubt.

Let me know if you are interested, and I can send you all the details.

235359 - Details: 531 HWY 98, APALACHICOLA, FL - $850,000

I walked in a little over a mile to where the nest was located, and snapped a shot before I started the evaluation.  This nest had taken on some high surf during the 2 months it was incubating, so the poles were leaning, and the wind had snatched the yellow caution tape away from where I had tied it and re-tied it. 

But, it turned out to be a pretty good hatch-out - 60 eggs hatched, and 33 were unhatched - all of them located toward the bottom of the nest chamber, probably drowned in one of the high surf events.   I pile up the eggshells in groups of 5 to count them a little easier, and line up the unhatched eggs in 2s, as you can see.

Then, once everything is measured and recorded, all the eggs and eggshells go back into the nest chamber, and are covered up to finish decomposing and nourishing the beach, just as would have happened naturally.

As I headed back, I snapped a few photos - the shells were fantastic that afternoon, and the sunset was beautiful, no matter which direction you looked.

This person came out to try their hand at a little late afternoon fishing.  Even though I don't fish, this looked pretty darn tempting.

What a way to end the day.

And, there was my trusty rusty bike waiting for me at the end of my walk - I strapped on the poles and got ready to head back home.  I always hate to see the end of turtle nesting season - but it's only 7 months before they begin to nest again!!

But, we now have 3 recorded sales of one acre beachfront lots in the Plantation, which traditionally are the trendsetters for real estate prices on St. George Island.  The first went under contract in July and closed in August for $640K, the second also went under contractin July and closed in August for $685K, and the third went under contract in October and closed in October for $725K.  And, we have another that has been wending its way through the short sale process since August, with a list price of $650K.

The one acre beachfront lots still listed for sale in the Plantation start at $795K and go up.

So, can we consider this a trend???  Bowing to my training 2 lifetimes ago in statistics, I'd have to say it's a little early to tell, but it sure does look like we may at least know generally where the settling point is for the lower end of this market cycle.... 

 So....everybody off the bench.

If you're going to get in the game, this might be the time to do it (or last month was the time you should have done it...!!)...

47 single family homes have sold this year, and our team has been involved in 14 of these trasactions, either on the seller side, the buyer side, or both.

Condos and townhomes make up the remaining small sector of our market here. 5 have sold this year, and our team has been involved with 3 of those sales.

A sampling of the properties sold this year are shown at right.

At the top is a beachview townhome unit on the east end of the island, which sold for $293K. We represented both the buyer and the seller in this transaction.

In the middle is a gorgeous beachview home that sold freo $800K with us representing the seller in a short sale. The transaction was complex, but we made it through with flying colors.

At the bottom is a bank-owned home that went for auction earlier this year. Our buyer had the winning bid of $764,500!

We are proud of all the properties we have listed for sale for our sellers, and all the buyers we work with to find the best deals. We are truly match-makers, looking for the best fit between buyers who want to buy and sellers who want to sell.

Call or email me if you'd like to engage us - we're happy to help.