Price Reduced $51k on Gulf Front Home. Now Only $499,000. Walk out back door direct to beach.  Beachfront pool. Come enjoy the slower pace of life on the beachfront along the gulf coast of Florida.  We have no ugly big box condos, no traffic and no crowds.  We are one hour east of Panama City Beach, just south of Port St. Joe and off of Cape San Blas.  View the property at http://cr30waterfront.coastalrealtyinfo.com

$40,000 Price Reduction on Gulf Front Townhouse. Now Only $299,000  On the beach at Port St. Joe, just off of Cape San Blas, FL.  Recently remodeled and is fully furnished.  Walk out the back door right onto the beach.  You want waterfront? - then this is for you.  Now Only $299,000    http://capevillas1c.coastalrealtyinfo.com

You know that old saying:  ‘Lead, follow are get out of the way.  Well the banks need to get out of the way.  Banks are slow, cumbersome and bureaucratic.  Banks are wasting time with the properties that are coming under their control.  They are using appraisals that are outdated by the time they do decide to use a Realtor.  Communications are difficult.  They have some good people but they are overwhelmed and they don't really have a handle on the situation.  Would you like some specifics?

My prospects show an interest in a neighborhood.  So being a good agent that likes to supply my clients with lots of good information, I let them know of the bank owned properties in the neighborhood - Mistake.  My prospects then contact the bank directly thinking they will get a better deal.  The bank later does list with another agent and immediately has it under contract with the people that found out about it from me.  Sure, I take some responsibility for not having things better under control and being more proactive and protective.  However, it is just another reason that some Realtors will avoid bank controlled properties.

Another bank has contacted me about listing their properties and they have me give them my input on one of these properties.  Well they do decide they want to list it with me, however at a price that is $121,000 higher than I recommended.  Their basis is an appraisal done by a very qualified appraiser, however it is 5 months old and the comparables are almost a year old and I totally disagree with the comparables.  The market is changing rapidly and 5 months ago is out of date. I have spent the last few hours building a case for my price and I hope that they will listen to reason.

Then the bank also has two houses that I feel certain that I can sell and I have showed the houses to three different clients this week.  However, they don't want to give me these listings until some repair work is done to them.  PLEASE, stop the delays, you are missing the boat.

I am an entrepreneur and I believe in getting the job done.  As an entrepreneur I am concerned about anything that affects my bottom line.  Unfortunately for Realtors dealing with banks and asset management people, we apparently are dealing with 40 hour a week people that are not that concerned about the bottom line.

For those people that are afraid of the banks getting into the real estate business, I say that you have nothing to fear.  These people can't get out of their own way.  They are lost in the maze - No wonder we have to bail them out.  They are only going to hurt themselves further.  I welcome them to the business, because we will run circles around them. 

Prices are way off on coastal properties at Cape San Blas, Florida and surrounding areas and some of our prospects feel that we have reached the bottom or close enough to the bottom that it is time to look at the foreclosures, short sales and REO or bank owned properties.  Now if the Sellers and lenders will get realistic and work with us, then we can move some of these properties.  We are independent, we are Realtors with a "can do" attitude and we can get the job done.  Banks, lenders, asset management - are you listening?

Why buy a condo or townhome when you can purchase a single family beach front home for the same price. Beautiful 3 Bedroom/4 Bathroom Gulf Front Home is in Port St. Joe situated between Cape San Blas and Indian Pass along the Forgotten Coast where "Old Florida" still exists. There are miles of quiet, uncrowded beaches. Great area to enjoy abundant wildlife, hiking, kayaking and fishing. Gulf front Pool, boardwalk to the Beach and three decks to relax and enjoy the views. X Flood Zone. FEMA Flood Insurance Available. Master suite at top floor with deck. Plenty of boat ramps nearby to enjoy the area's great fishing. $$550,000  

http://cr30waterfront.coastalrealtyinfo.com

Many of my clients have been telling me that they were waiting to buy when the market hits bottom.  So when is that going to happen?  I feel that the bottom and the turn around will be different times for different areas.  And the truth is that you will not know the bottom until it is past and prices have started to move up. 

Don't look for the bottom in the list price on properties, you may find it in a few properties but not most.  Look for the bottom in the SOLD properties.   

My belief is that the coastal properties along the Forgotten Coast area of Florida will start to recover sooner for several factors.  Our market hit a wall in the summer of 2005 and has been hit hard since then.  2009 will be the year of the foreclosure here.  Prices have tanked and are in many cases 50% or more off from their price of three years ago.

I have been wrong about the market here for the past three years as I never thought the market would get this bad.  My belief is that 2009 will see the bottom, because that is when we will see the most foreclosures.  However I can't pinpoint the exact bottom and nobody else can either.   I do know that buyers are taking advantage of some great prices and motivated sellers.

We are beginning to get activity on the foreclosures and the properties with motivated Sellers.  Since the first of the year we have already closed on over $3 mil in properties on Cape San Blas.  Change is coming.  Buyers who have the courage to buy in 2009 will be slapping themselves on the back in future years for making such a smart decision.

Equipment is being staged at this time and the beach restoration will start in March.  They will start at the State Park and work their way South. The beach restoration will add from 150 to 200 feet of width to our beautiful beaches. 

Some of the details still need finalized, but the plan that will be put in place for
our project is as follows:

1.  Dredging will begin at the northernmost point of the project, inside the State
Park.  Pipe is already being deployed, and we anticipate sand to begin discharging
onto the beach sometime during the first week of March.
2.  The project will proceed to the south and continue until we complete the entire
project, finishing with the work at Stump Hole.  
3.  The time line for completion of all work is subject to delays for weather,
equipment, and problems with endangered species.  However, it is generally expected
the project will be finished within 240 days or less.
4.  We have not been provided with information as to when the project will be at any
certain point. It's our understanding, for example, the work in
the State Park section will take approximately 20 days.  

Again, the advantages and benefits of this revised plan are:
1.  Work will not have to be stopped from July 1 to November 1, 2008.
2.  The cost of a second mobilzation of equipment will be avoided.
3.  Working from north to south actually will get more of the project area completed
in the same amount of time than would be covered working south to north. 

In other Cape San Blas news, another one mile stretch of road has been widened and resurfaced.  Also the construction crews have started on extending the bike path.  Also, we are expecting construction to start on Sacred Heart Hospital in March.

Lately we have been in a Buyers market with buyers being able to get some great deals on beach real estate.  Appreciation rate will start to take off in 2009.  2008 will be the year to get your best deal.