Panama City Beach Real Estate Homes, Condos For Sale and Other Things
Panama City Beach Real Estate Information | Market Conditions | Boating and Fishing

12.08.11 » Panama City Beach short term condo rentals and taxes

Hi,

We have had several customers who have purchased condos this year ask us what is required of them with regard to taxes and licensing in order to rent their condo unit short term and comply with existing laws. There are several things to consider most of which revolve around the various public bodies wanting their share of YOUR income. TAXES. The math shows that if you are going to rent your Panama City Beach condo unit short term and you are trying to figure out what the costs are in order to arrive at a net… you can take approximately 12% right off the top for taxes and licensing.  Read more... (320 words, 1 image, estimated 1:17 mins reading time)

5.04.10 » Panama City Beach Condo sales prices maybe headed up!

Hi folks,

I have what may be some good news for Panama City Beach condo sellers and condo buyers should take note as well.

Last month, the month of March the average sales price of condos on the beach increased by $40,000.00. And the average price per square foot increased by $10.00 over the previous month to $196.00 per sq. ft. There was just 22.5 months of condo inventory at the current sales rate.  Read more... (327 words, 1 image, estimated 1:18 mins reading time)

14.01.10 » New Good Faith Estimate (GFE) and HUD-1 for Home Buyers

Hi folks,

Effective 01-01-2010 the Department Of Housing and Urban Development (HUD) requires lenders to use a NEW Good Faith Estimate (GFE) form. This is a good thing for prospective property buyers who need financing. The new form strives to make loan costs more transparent for buyers and it includes a Loan Shopping Chart so that buyers can shop lenders and compare apples to apples with regard to loan costs across several lenders.  Read more... (355 words, 1 image, estimated 1:25 mins reading time)

26.05.09 » Good News! Panama City Beach Condo sales increase, Condo inventory decreases

Hi folks,

There is good news in the condo sales market here in Panama City Beach. Since January sales have continued to increase. According to the Bay County MLS there were 26 condo sales in January and in April there were 58. Currently the absorption rate is just above 2 years which isn’t too bad.  Read more... (311 words, 1 image, estimated 1:15 mins reading time)

5.03.09 » Panama City Beach condo sales nearly double in February!

Hi folks,

There is some encouraging news with regard to the real esate market in Panama City Beach. Condos sales nearly doubled for the month of February as compared to January. There were 47 condos sold in February compared to 27 in January. The brisk sales contributed to improving the absorption ratio. January’s sales rate and inventory numbers showed 61+ months of inventory on the market. In February however, the months of inventory was cut in half to 33 months. That could be a positive sign for the market as a whole.  Read more... (504 words, 2 images, estimated 2:01 mins reading time)

2.01.09 » Welcome 2009…we are ready…bring it on!

Well we have to say that 2008 was a VERY exciting year. Lots of good, some bad. On the good side we had a VERY good year helping buyers find properties that met there needs and helping sellers get their properties sold. On that bad side it is so difficult to speak with, meet and deal with so many folks who are in financial difficulty. It is truly heart breaking.  Read more... (756 words, 1 image, estimated 3:01 mins reading time)

1.08.08 » $7500 Tax Credit For First-Time Homebuyers

This could be a good day for first time home buyers. Housing legislation signed into law on July 30, 2008 by President Bush is aimed at ending the current cyclical downturn in the housing industry, helping home buyers and strapped borrowers and strengthening the housing finance system, according to the National Association of Home Builders (NAHB).

The Tax Credit Is The Most Important Part Of The Housing Bill  Read more... (239 words, 1 image, estimated 57 secs reading time)

17.07.08 » Majestic Beach Resort Condo SOLD! Another happy customer!

Hi folks,
We recently received these comments and testimonial from one of our VERY happy customers. You can read al our customers’ comments here: http://www.vivianfoate.com/testimonials.shtml

July 16, 2008

Dear Mike and Vivian,

Just wanted you to know how pleased I was with your service. This was my first condo purchase. You guys made it very easy. Even though I was out of state and was not able to view the unit except for pictures, it was exactly the way you said it would be.  Read more... (194 words, 1 image, estimated 47 secs reading time)

28.05.08 » Customer Purchases His First Foreclosure Property!

Hi folks,
A dual citizenship Canadian / US customer of ours purchased his first foreclosure property. He is needless to say very happy with our service and with his new home! If you need information on foreclosure property, short sales or conventional transactions please don’t hesitate to contact us. We are very easy to talk to and to deal with.

5/2/2008

Dear Vivian and Mike

 Read more... (198 words, 1 image, estimated 48 secs reading time)

15.05.08 » Panama City Beach Condo Lending And Financing Conditions Improve

Hi folks,
It looks like the lending climate may be improving for condo market here in Panama City Beach, FL. We recently received correspondence from a lender that included a list of “Approved” condos.

* Please note this information is from one particular lender. We have several that we work with that are financing condos.

What does this mean? Condos on the “Approved List” are NOT classified as condo-hotels. As a result the financing terms are better.  Read more... (347 words, 1 image, estimated 1:23 mins reading time)

28.04.08 » Frank Brown Park Near Pier Park To Host Circus by the Sea!

From June 13 to August 2, 2008, Florida’s newest seasonal attraction will spring to life at Frank Brown Park near Pier Park, bringing a dazzling three-ring aerial and stage production to residents and visitors alike.

Circus by the Sea will showcase the renowned Florida State University (FSU) Flying High Circus, celebrating 60 years of spellbinding entertainment. Circus by the Sea will also debut the area’s first circus camp, which include lessons in a wide variety of thrilling circus performance skills such as trapeze, juggling, acrobatics and balance.  Read more... (239 words, 1 image, estimated 57 secs reading time)

24.04.08 » Financing Condos and Condo Hotel Units In Panama City Beach FL

Current Lending Climate In Panama City Beach For The Purchase Of Condos And Condo Hotel Units

I have been told by a number of local lenders that many of the high rise condos in Panama City Beach are being classified as Condo Hotels or non warrantable condos. We have seen this classification most recently in an older complex named Horizon South and it is not on the Gulf of Mexico. From a financing perspective, a Condo Hotel will require a larger down payment than the more traditional warrantable condominiums.  Read more... (1018 words, 1 image, estimated 4:04 mins reading time)

10.04.08 » Seabreeze Jazz Fest says HELLO to Pier Park

The nationally recognized Seabreeze Jazz Festival will move from Walton County to the public amphitheater at Pier Park, Panama City Beach for 2009.

“This is a great event,” said TDC Chairman Andy Phillips. The TDC unanimously passed a resolution to provide the organizers $10,000 to help in the relocation from its current site in Destin to Pier Park in Panama City Beach.
Have a GREAT day!
Mike and Vivian

Popularity: 83% [?]

3.04.08 » Panama City Beach Real Estate Absorption Rates

Hi folks,
I hope all of you are doing well today. I just posted the Panama City Beach Real Estate For Sale inventory numbers for Panama City Beach, Panama City and Bay County. The numbers are for the month of March.  Read more... (488 words, 1 image, estimated 1:57 mins reading time)

21.03.08 » Real Estate Auction Strategy and Tips

With Real Estate Auctions all the rage right now, I would like to offer some advise and tips on how to be prepared to bid on real estate at auction.

A REALTOR(R) can be a GREAT asset to the auction process. Many Auction Companies provide a cooperative commission to REALTORS(R) that register a buyer and attend the auction.  Read more... (391 words, 1 image, estimated 1:34 mins reading time)

27.02.08 » Pier Park in Panama City Beach is Open for Business!

Good day all,
Pier Park outdoor mall and retail center in Panama City Beach is now open for business! This is arguably THE most important GOOD thing to happen to the beach in a long while. We think it is even more important than the new airport.  Read more... (228 words, 1 image, estimated 55 secs reading time)

16.02.08 » Florida Property Tax Amendment 1 and how it affects you.

The following was sent by State Senator Don Gaetz of Florida

Now that it’s law, here’s how Florida Property Tax Amendment 1 may affect your tax liability.

Dear Neighbor,

Last month, the people of Florida voted in overwhelming numbers to save nearly $10 billion in property taxes with the approval of Amendment 1. This tax relief is in addition to the $15 billion tax cut passed by the Florida Legislature in 2007. Together, they add up to almost $25 billion in property-tax cuts over five years for Florida homeowners and businesses.  Read more... (1350 words, 0 images, estimated 5:24 mins reading time)

28.01.08 » Panama City Bay County International Airport Stay Lifted

A federal appeals court in New York has cleared the way for construction to begin in full at the new Panama City-Bay County International Airport, officials announced Monday.

“This is a red-letter day for the airport,” said Airport Authority Vice Chairman Bill Cramer upon receiving news of the decision just before an Airport Authority’s regular meeting Monday morning.  Read more... (113 words, 0 images, estimated 27 secs reading time)

25.01.08 » Tidewater Condo Purchase Customer’s Testimonial

Hi folks,

We just received this nice testimonial from one of our recent customers. We REALLY do provide FANATICAL customer service!

Dear Vivian and Mike,  Read more... (209 words, 1 image, estimated 50 secs reading time)

12.01.08 » Florida Property Tax Amendment Confusion

Hi folks,
I am writing this in hope that the information I post here will clear up some confusion w/ regard to the Florida Property Tax Amendment that is on the ballot for January 29, 2008. This amendment is NOT the same as the previous SUPER EXEMPTION AMENDMENT that was so highly advertised. The SUPER EXEMPTION AMENDMENT is DEAD.

The current amendment preserves the Save Our Homes provision as well as the 3% cap for Homesteaded properties.
Other key points include:  Read more... (223 words, 1 image, estimated 54 secs reading time)