First Tier Lot on St. George Island – $188,000

Enjoy great gulf views with this 1st tier lot on the East End of St. George Island in Sunset Beach subdivision.  Priced at only $188,000, 1828 Sunset Drive, Lot 35, is across from the designated beach boardwalk and has unobstructed beach views due to the staggered lot lines and construction envelopes.  Sunset Beach is a gated community, adjacent to the State Park, that features pool, cabana, tennis, boardwalks to beach, brick paved roads, Mediterranean style and easy beach access.

FIRST TIER LOT - $188,000.  1828 Sunset Drive, SGI

FIRST TIER LOT – $188,000. 1828 Sunset Drive, SGI

SOLD! Great Investment Property in Carrabelle

This townhome unit at 509-D East Meridian Street in Carrabelle in the Sands of Carrabelle complex just sold for $65,100. The end unit is 1500 square feet, 3 BR, 2 BA with parking underneath for 2-3 vehicles.

SOLD:  $65,100.  July 2014.  3 BR/2 BA townhome at 509-D East Meridian in Carrabelle.

SOLD: $65,100. July 2014. 3 BR/2 BA townhome at 509-D East Meridian in Carrabelle.

Questions for Buying Property on St. George Island

If you are considering the purchase of a vacation home, now is a great time to act.  The market has stabilized and prices are still very reasonable on St. George Island.  Here are some questions to ask yourself before your start your property search.

  • Where do I want to be?  On St. George Island, your choices are gulf front, gulf view, bay or interior.  Or you can choose the Plantation, Gulf Beaches , East End or Business District.
  • What is the purpose of my purchase?  Will this be a rental home, a second or vacation home, a retirement home or a telecommuter home?
  • Do I want to buy an existing home or buy a lot and build?  There are advantages to each.
  • What type of amenities do I want?   Pool (onsite or community), tennis, security, beach, beach access, architectural restrictions, boat dock on-site.
  • What home features are most important?  Bedrooms, baths, layout, interior finishes, kitchen, etc.
  • How much do I want to invest?   Determine your budget and price range.
  • Will I pay cash or finance the purchase?  Most financial institutions currently lend up to 75% of the purchase price or appraised value, whichever is lower.

If you need more information about buying on St. George Island, please contact me or 850-899-1262.

New Lot Loans Available – 25% down, interest rates start at 5.47%

Brenda Ash, local loan officer with Centennial Bank and a blogger for, just announced a new lot loan program that’s the best I’ve found in years!  75% loan to value, 15 year amortization at 6.19% or 75% loan to value, 15 year amortization with fixed rate for 5 years and balloon payment due in 5 years at 5.47% interest.  Local approval can be provided quickly.  1% origination fee + $250 processing fee + standard mortgage costs (doc stamps, intangible tax & recording fees).  This program is available to individuals only, no LLCs or companies.  Only one lot per person.  This offering is available through December 2013.   For more information, contact Brenda Ash at

Buying an REO Property

While the number of bank owned properties on St. George Island is greatly reduced, there are still a few on the market (currently five active REOs).  If you’re planning to submit an offer, remember these tips.

  1. Banks price the properties according to appraisals and current valuations, so don’t expect a significant discount off list price, especially during the first thirty days on the market.
  2. Banks are aware of repair issues, negative features and the condition of the properties.
  3. Banks like clean contracts with few, if any, contingencies.  Cash sales are preferred.
  4. Be sure to submit your proof of funds with a cash offer, or your pre-approval letter with a financing contingency.
  5. On your contract, use the name(s) in which you wish to take title.  It’s difficult to make even a small name change after the paperwork is submitted.
  6. Inspection periods allowed by banks are typically 5 to 7 days.  Have your inspection team ready.
  7. Plan detailed inspections.  The property is sold in “as is” condition with no warranties.
  8. Be patient.  The seller is an institution, and is in control of this transaction.

SOLD! 1428 Bayberry Lane, St. George Island

This house in St. George Plantation closed May 16 for $245,000.  It has 1360 square feet, 2 bedrooms, 2.5 baths and is on a 1-acre second tier lot in Sea Palm Village. The house was bank owned and placed in an auction.  Built in 1992, the home had been updated with vinyl siding and a standing seam metal roof.

SOLD! 2005 Hammock Lane, St. George Island

Congratulations to Albert Balido and Noreen Reboso, new owners of the home at 2005 Hammock Lane in St. George Plantation.   These Tallahassee residents plan to use their new home as an island getaway and second home.  The house has 2708 square feet,  three bedrooms, two full baths plus two half baths and a pool.  Built on a wooded one-acre lot, the home sold for $340,000.

2005 Hammock Lane

2005 Hammock Lane

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