Homestead is no protection against tax increases this year…
Florida homes have a market value (estimate of worth) and an assessed value (basis for property tax calculations). An owner’s assessed value, at first, should be market value minus $25,000, the homestead exemption and the local government applies its tax (millage) rate to that number. But Save Our Homes (SOH) (Homestead) also impacts assessed value by capping it at a maximum 3 percent yearly increase. However, that cap is a yearly tool and applies anytime assessed value is below market value (minus $25,000). And for many of the state’s long-time homeowners, assessed value is significantly less than market value (minus $25,000). Read more...(255 words, 1 image, estimated 1:01 mins reading time)
Press Release Source: Panama City – Bay County International Airport
Federal, State and Local Leaders Voice Strong Support for Airport Relocation
Tuesday August 21, 8:39 am ET
Panhandle Business Leaders Join in Support of “Extraordinary Opportunity”
Airport Relocation Project Enters Construction Phase Read more...(2248 words, 0 images, estimated 9:0 mins reading time)
Short sales increase as housing slump deepens: Lenders help
BOYNTON BEACH, Fla. – Aug. 20, 2007 – Investor Harold Stark paid $365,000 for a three-bedroom Boynton Beach townhouse last year. But the monthly mortgage payments soon started to feel like a noose around his neck.
His property’s value dropped below what he still owed, $329,000. But rather than letting the townhouse fall into foreclosure, Stark worked out a deal in which he sold it for $285,000, and his lender, Chase Home Finance, forgave the difference. Read more...(912 words, 0 images, estimated 3:39 mins reading time)
Are you struggling to make your house payments? Homeowners please reach for a helping hand.
Hi folks,
It should come as no surprise that struggling consumers are trying to keep their homes from going into foreclosure. NAR’s consumer mortgage education brochure –“Learn How to Avoid Foreclosure and Keep Your Home†— can help. The brochure alerts consumers that they can call a nationwide, toll-free assistance number—888-995-HOPE—to speak with a counselor, day or night, to help them get back on track financially. You can dowload the text version of the brochure by clicking here. Read more...(99 words, 1 image, estimated 24 secs reading time)
PANAMA CITY – BAY COUNTY INTERNATIONAL AIRPORT RECEIVES FINAL FEDERAL PERMIT NEEDED FOR AIRPORT RELOCATION
Airport Relocation Project Enters Construction Phase
Panama City, Florida – (August 16, 2007) – The Panama City – Bay
County International Airport and Industrial District (Airport Authority)
announced today that its airport relocation project is entering the
construction phase now that the U.S. Army Corps of Engineers has issued the
final necessary federal permit, completing the permitting process. The new
airport will be located in western Bay County north of County Road 388 and
east of State Road 79 on land being donated by The St. Joe Company (NYSE:
JOE). Read more...(1439 words, 0 images, estimated 5:45 mins reading time)
Transaction Includes 28 Home Sites with Golf Course and Lake Views in Wild Heron
Jacksonville, Florida – (August 16, 2007) – The St. Joe Company (NYSE: JOE) announced today that it has purchased the Greg Norman-designed Shark’s Tooth Golf Club in the Wild Heron community near Panama City Beach, Florida. The transaction also includes 28 fully-developed Wild Heron home sites, additional land parcels and beach and tennis club facilities. Read more...(241 words, 0 images, estimated 58 secs reading time)
In second quarter 2007, Florida’s housing sector continued to report higher inventory levels of homes for sale, median prices edging down and sales activity reflecting a buyer’s market. Statewide sales of single-family existing homes totaled 37,709 during the three-month period, a decrease of 30 percent compared to the same time a year earlier, according to FAR. The statewide median existing home sales price was $239,200. Read the full story here. Read more...(77 words, 0 images, estimated 18 secs reading time)
Development to boost Beach population
Sunday, August 12 (By Ed
Offley, News Herald Writer)
PANAMA CITY BEACH
Without fanfare or ceremony, the St. Joe Company has initiated the
largest mixed-use residential community in city history that, upon
completion in 2018, will boost the current full-time population by 65
percent. Read more...(795 words, 0 images, estimated 3:11 mins reading time)
Fowler contract signed, binder paid
Jay Felsberg, Managing Editor Freedom Florida Communications
2007-08-07 20:47:00
Holmes County Development Commission approved a contract with Jim Fowler’s Parks and Wildlife Services (PAWS) for sale of 786 acres of Commission and around Smith Lake for $3.256 million. Action was taken at the Commission’s regular meeting Tuesday night. Read more here.
My family and I would like to thank Vivian and Mike Foate for their dedication and expertise in helping us sell our Moonspiner condo in Panama City Beach. During our listing period, we experienced some unpredictable events from several potential buyers, but Vivian and Mike helped guide us through these situations with their timely and professional opinions. Once again our family thanks you.
No money down vanishing as mortgage option. Lenders faced with growing piles of bad loans, even to borrowers once considered good credit risks, have clamped down on the no-money-down mortgage. The abrupt shift threatens to dash the hopes of millions of potential buyers, especially those shopping for their first homes. Read more here.
See videos of Panama City Beach homes, condos and land for sale!
You can scroll through the movies by clicking on the film strip to the right. Then click on one to select it. Then click the ‘Play’ arrow to play the movie.
I just published the real estate sales data from the Bay County MLS. See it here. Home sales and condos sales stayed about the same for both categories. However, there seems to have been a drop in residential lands sales and if the numbers hold up it is quite dramatic!
For the month of July in all of Bay County there were Read more...(178 words, 1 image, estimated 43 secs reading time)
TALLAHASSEE, Fla. – Aug. 1, 2007 – Citizens Property Insurance Corp., the state’s insurer of last resort, today begins offering a new inclusive homeowners policy to customers. The change, effective Aug. 1, stems from recently enacted legislation designed to make Citizens more profitable and less vulnerable to the risk of a catastrophic event.
