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About Gulf County, FL

The Return of Port St. Joe - from a Proposed Resort City, to a Deepwater Commercial Port

Fred Griffin, Tallahassee Florida  Real Estate Broker: Real Estate Brokerage in Tallahassee, FL

Port St. Joe sits on a beautiful stretch of Florida waterfront. But the town was ignored for over 50 years... because a Paper Mill fouled the air for miles around. The Mill was demolished in 1999; a Resort City with neighborhoods and hotels was planned.


A Marina was built, the Port St. Joe Downtown was renewed... then came the Crash.

Paper Mill at Port St. Joe

Beach near Port St. Joe

The St. Joe Company is planning to develop the deepwater port. Not for the Cruise Ships and Casino Boats that were rumored in 2005, but for Commercial Shipping.

The Panama Canal is being widened to accomodate the "Panamax Ships".


A deepwater port in Port St. Joe, with an adjoining railroad line already in place, and the recently opened International Airport just 60 miles away, should be very attractive to commercial shipping interests.

ESJ to lease 20 acres at PSJ per Panama City News Herald

20 Acres have already been leased to the Eastern Shipbuilding Group of Panama City, Florida.


Port St. Joe City Officials are scrambling to rezone the site of the old Paper Mill.

Port St. Joe City Commissioners on Rezoning of Mill Site, per The Star

Port St. Joe is one of 14 Deepwater Ports in Florida (not counting Key West).

Some of the most beautiful beaches in America are close to Port St. Joe (Cape San Blas, Panama City Beach, Mexico Beach). Apalachicola is just a few miles to the East.

Port St. Joe, Florida

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During the Real Estate Boom, the St. Joe Company (which at that time owned over 1 million acres in Florida; they still have about 550,000 acres) planned a very upscale development.


The St. Joe Company had Congressional approval to relocate US Highway 98 away from the beach, which would enhance their proposed beachfront golf courses, hotels, shopping centers, and condominiums.


At the peak of The Real Estate Boom of the mid-2000's, vacant lots that had sold for $15,000 spiked to $250,000. But then came the Crash, and everything ground to a halt.


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The Real Estate Boom came and went; they failed to capitalize on it. But now Port St. Joe has another shot.


The Revival of the Deepwater Port, coupled with the new Northwest Florida Beaches International Airport, may be the Economic Life that Port St. Joe has been seeking.


Gulf County Florida Home Buyer Assistance Program Process and Time Line

Jim Poole Zero Down USDA Purchase Loans FHA 203(K) Rehab & VA Streamline Loans  : Loan Officer in Tampa, FL

Gulf County Florida Home Buyer Assistance Program Process and Time Line

1. County sponsored home buyer education class is required.

2. Home buyer is APPROVED and signs contract for home.

3. Lender sends Reservation Form with contact to county.

4. With-in 5 days, home is inspected by county staff.

5. If necessary, lead based paint assessment is completed.

6. Lender sends loan package to county.

IF NO REPAIRS ARE NECESSARY......

7. County approves application package.

8. County contracted appraiser completes appraisal.

9. Home buyer meets with home buyer counselor.

10. Mortgage package e-mailed to title company.

11. Home buyer assistance check is released by county after HUD 1 is approved.

12. Closing occurs at the offices of the title company.

FOR MORE INFORMATION PLEASE VISIT:

HUDS List of Home Buyer Assistance Programs in the State of Florida by County

For More Information on Government Loan Programs in the State of Florida Please Visit:

Government Home Loan Programs in the State of Florida

Real Estate Promise and Consideration

Captain Wayne Rowlett: Real Estate Trainer in Destin, FL

A promise undertaken by one party must be supported by a promise taken by the other party.
-Mutual promises to do or not to do some specific act are sufficient consideration, even though the benefit or the sacrifice may not be equal.

In real estate sale contracts, the seller normally promises to sell and convey, and the purchaser promises to pay for the property.
-There are two types of consideration:
1. Valuable consideration is the money or promise of something that can be measured in terms of money.

2. Good Consideration is a promise that cannot be measured in terms of money, such as love and affection.

This information is courtesy of Captain Wayne Rowlett and Rowlett Real Estate School www.rowlettrealestateschool.com

Rowlett Real Estate provides traditional classroom training in Panama City, Florida and in Destin Florida.

Feel free to visit our classroom schedule at
http://www.rowlettrealestateschool.com/fl-schedule.htm

Rowlett Real Estate School is a full service Florida real estate school with online real estate courses in most every state at
http://www.rowlettcareerschool.com/

P.Stone, RRES

Pre Sales Associate Class coming up in November

Captain Wayne Rowlett: Real Estate Trainer in Destin, FL

Florida Real Estate Sales can be an extremely rewarding career. As a Sales Associate, you are essentially your own boss, but with a manager who makes sure you have plenty of support. Your earning power is unlimited and you can set your own hours.
Come join our Pre Sales Associate Class November 5, 6, 7, 8, * 13, 14, 15 Check our website for more details at

www.RowlettRealEstateSchool.com We also have the best prices for online courses!

Cape San Blas Real Estate Week in Review - July 17-23, 2010

Sherri Dodsworth PA: Real Estate Agent in Cape San Blas, FL

For Sale and Sold SignIf no news is good news, then we've had a very good week as there is still no oil and now no Bonnie. We've also had another good week in real estate, with two sales, four new contracts, five new listings, and eight price changes. No change in our inventory, though, hanging steady at 415, with 164 houses and 251 lots listed for sale in the MLS in the Cape San Blas, Indian Pass, and C-30 Corridor market.

Cape San Blas Gulf View Home at Seagrass Sold July 19, 2010 for $400,000

Both of our sales were on the Cape, starting with a short sale on this 4-bedroom, 4 1/2 bath, 3,789 square feet home in Seagrass built in 2005 which went under contract with a list price of $449,900. What I don't understand is the county having this one assessed at $498,852 which seems pretty high based on sales we've been seeing lately. It appears the sellers gave $385,000 for the lot alone in October 2004. On Monday the bank let the sellers accept $400,000 for it, just a little below the original list price in May 2006 of $1.379M. I've shown this house several times, so I'm familiar with it. Even thought it's relatively new it has had some leaking issues; the last time I was in it there was a large section of ceiling on the second level which hasd been saturated at some point, and there were water damage stains around several A/C ceiling air vents.

Gulf View Lot at Cape San Blas Sold July 15, 2010 for $127,500

Our second sale was a gulf view, quarter-acre lot measuring 52′ by 160′ in Turtle Dunes subdivision about a half mile north of Scallop Cove. This one was also a short sale having last sold in June 2004 for $390,000. The sellers put it back on the market just nine months later in March 2005 for $625,000, but the boom had burst by then and it's been on the market ever since. It finally went under contract in April with a list price of $150,000, and closed this week for $127,500, not too far off the county's assessment of $140,000.

Bank Owned Gulf Front Lot at Cape San Blas Under Contract July 20, 2010 with $184,900 List Price

Now onto our four new contracts, also all of which are on the Cape, and we'll start on the south side and work our way north. First up is a bank-owned gulf front lot on Louisiana Lane which is in a beachfront micro-subdivision seaward of Surfside Estates. This 50′ wide by 497′ deep half-acre lot last sold as recently as April 2007 for $400,000. The sellers lost it to the bank who put it on the market in June for $228,450, but soon after dropped that to $184,950, well below the county's assessment of $235,000.

Interior Lot at Jubilation on Cape San Blas Under Contract July 20, 2010 With $39,000 List Price

OK - here's the one that caused such a feeding frenzy last week - the interior lot at Jubilation that the bank tossed out on the market with the give-away price tag of just $39,000. Almost immediately the listing agent was juggling multiple offers and this week the bank finally found one they could live with and it is now under contract with no contingencies, scheduled to close by August 4th. I'm betting this one goes for above list with that many offers in on it. This sale is going to be such a comp buster. That list price is less than half the county's assessed value of $85,000, and just 8-cents on the dollar for the $475,000 it sold for in April 2005.

Bay View Lot at Cape San Blas Under Contract July 22, 2010

Our third new contract is a bay view lot just a couple hundred feet south of Scallop Cove, a lovely piece of property, high and dry, good elevation and great view. It also has an attractive price tag at just $99,000 considering it includes the use of an extremely well-built dock. It's good size, measuring 91′ by 238′. No past sales info on this one as when it last sold it was part of a larger parcel which was subsequently subdivided. I think the county has this one a bit low at just $77,000.

Bank Owned Interior Lot at Cape San Blas Under Contract July 23, 2010

Our fourth and final new contract is yet another bank-owned property, this one an interior lot on the north end of the Cape in Sunset Pointe. The bank has this one listed for $44,500, which is 12-cents on the dollar for its previous sale price of $355,000 in September 2006. The county's pretty close on this one, having it at an even $50,000.

These bank-bargain give-aways we've been seeing so many of lately make choosing picks of the week a bit of a challenge as after some of those steals it's hard to get excited about "normal" additions and changes, and that's the case this week. Nothing in the new listings and price changes just screams out to me so I'm going to hold off until next week.

So that's a wrap for this week. I hope you have a chance to come on down to the beach and enjoy the Cape. The oil is nowhere in sight and Bonnie is not even on our radar screen so it looks like a decent week of sunshine shaping up. If you're in the area stop on by my office and say hello. And if you're interested in learning more about property whether buying or selling, give me a call at 850-227-5197 or send me an email to sherri@sherridodsworth. Have a great weekend, and thanks so much for taking time to stop by today.