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Panama City Beach Housing Market

Panama City Beach Housing Market

 

NAR: This is the worst ‘housing drought’ ever

WASHINGTON – March 28, 2017 – The number of homes for sale is at the lowest level on record, according to the National Association of Realtors® (NAR), which began tracking inventory 18 years ago.

For buyers, that means they’ll find fewer options this spring, and homes that are listed will probably sell fast and at a premium price.

The lack of new-home construction is one reason for the dearth of listings. Builders’ housing starts are only at about 75 percent of their historical average as they focus on pricier segments of move-up buyers. As a result, there’s a void in the number of new lower-cost homes that appeal to first-time home buyers. Builders blame the lack of production on higher costs for land, labor and materials that, they say, forces them to concentrate on the higher end of the market.

Builders aren’t the only ones to blame, however. Investors purchased about 4 million distressed properties – mostly in the lower-priced starter home segment – during the housing crash. They have been holding onto these properties, continuing to rent them out rather than selling.

“Investors came in to get that cash flow, and the cash flow remains very positive,” says Lawrence Yun, chief economist at the National Association of Realtors. “The price appreciation is just extra gravy that they’re witnessing, and they’re saying they’re going to ride out this price increase.”

That strong price appreciation also may be curtailing home supplies. The more a local market has recovered, the larger the drop in inventory it’s experiencing, according to a new survey by Trulia.

“If you have a lot of equity in your home, that could be great to use to buy another one, but if that other home you might buy is that much more expensive than it was last year, you may stay put and you may renovate instead,” says Ralph McLaughlin, Trulia’s chief economist.

As such, the housing crunch likely isn’t going to let up anytime soon. Some areas are seeing it worse than others. For example, home sales in Southern California in February were 14 percent lower than the average, according to CoreLogic in reviewing 30 years of data.

“San Bernardino County, which has the region’s lowest median sale price and entices many first-time buyers and others priced out of coastal markets, was the only Southern California county to post year-over-year increase in sales this February,” notes Andrew LePage, research analyst at CoreLogic.

Source: “This Is What’s Behind the Severe Housing Drought,” CNBC (March 23, 2017)

© Copyright 2017 INFORMATION, INC. Bethesda, MD (301) 215-4688

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FSBO – No! You’re Only Hurting Yourself!

Reasons Not to For Sale By Owner

Reasons Not to For Sale By Owner

Reasons Not to For Sale By Owner

In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.

Here are the top five reasons:

1. Exposure to Prospective Buyers

Recent studies have shown that 94% of buyers search online for a home. That is in comparison to only 17% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

2. Results Come from the Internet

Where did buyers find the home they actually purchased?

  • 51% on the internet
  • 34% from a Real Estate Agent
  • 9% from a yard sign
  • 1% from newspapers

The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.

3. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:

  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interest of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies, which work for the buyer and will almost always find some problems with the house
  • The appraiser if there is a question of value

4. FSBOing Has Become More And More Difficult

The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.

The 8% share represents the lowest recorded figure since NAR began collecting data in 1981.

5. You Net More Money When Using an Agent

Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission.

Studies have shown that the typical house sold by the homeowner sells for $185,000, while the typical house sold by an agent sells for $245,000. This doesn’t mean that an agent can get $60,000 more for your home, as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.

Bottom Line

Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.

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Panama City Beach Spring Break

Panama City Beach Spring Break

Panama City Beach Spring Break

 

EBRO, Fla. (WJHG/WECP) – While most college students come to Panama City Beach to party for spring break, one group of fraternity brothers is spending their time off giving back.
One foot in front of the other, members of the Kappa Beta Chapter of the Alpha Tau Omega fraternity from Troy University are going the extra mile.

“We’re taking the first six days of our spring break and we are walking to the beach to raise awareness and money for the Jeep Sullivan Wounded Warrior Outdoor Adventures,” says ATO fraternity brother Dakota Morris.

The group says this is their way to support those who’ve defended our freedom.

“A couple wounded soldiers come speak to us at night and their stories are just, what they’ve given up for our country is just crazy. And so for us to be able to help them in anyway, that’s why we do this,” explains another fraternity brother, Joshua Bryan.

“Me walking to Panama City is a lot easier than being shipped off to Iraq and missing time with my friends and family,” says Taylor Edwards, who is also a member of ATO.
They say the six day, 128 mile hike that began in Troy, Alabama pushes them to limits they never thought they could accomplish.

“You basically have to have the mental toughness to keep pushing yourself forward and to never give up. No matter how much pain you’re in or where you’re at on the walk,” adds Bryant.

“For us as walkers, just because we have some blisters on our feet and everything like that, I tell the guys that this is nothing compared to what these men and women have done for us and continue to do every single day,” adds Walk Hard Director and fraternity brother Dash Merritt.

At the end of their hike, the guys say taking part in this journey will stick with them for the rest of their lives.

“It’s not just going to be some spring break we forgot about. It’s really going to be something that’s gonna shape us and mold us as men,” says Merritt.

The group will end their trek Thursday afternoon at Pier Park around 4 p.m.

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Life’s A Beach Real Estate is a full service Real Estate Company on the beautiful Emerald Coast.  Our headquarters is located in one of the most unique condominium buildings on the beach, The Origin Beach Resort. We have over 700 condos for sale on Panama City Beach as well as beachfront and vacation homes in the world famous 30A area.  A large part of our business is Condo sales but we also assist our clients with new homes, investment opportunities, commercial properties, new construction and development.

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Beautiful 3 Bedroom Grand Panama Unit

11800 FRONT BEACH ROAD 2-708, Panama City Beach, FL 32407

11800 FRONT BEACH ROAD 2-708, Panama City Beach, FL 32407

REDUCED! Beautiful 3BR condo is the most desired property on the beach.  Shopping, Restaurants are all in walking distance. This condo offer’s very unique views from all 3 bedrooms and living areas. Please check this one out. Won’t last long at this price.

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Life’s a Beach

The Emerald Coast is an American Paradise!

You’ve been to Malibu, South Beach, and the Hamptons; to Cannon Beach, the Outer Banks, and the Jersey Shore, and you think you know a thing or two about beaches in this great country, right? Think again, amigo.

If you’ve never traveled the approximately 100 miles of glorious American coastline between Alabama and Florida known variously as the “Emerald Coast” and, more colloquially, the “Redneck Riviera,” then brother (or sister), you are in serious need of some beach schoolin’. There’s not a place like it in the damned world, and you’d be a fool to miss out on her myriad (often bizarre) pleasures, sights, sounds, and food. Here’s what makes the Florida Panhandle and LA (Lower Alabama) so spectacular.

The sand is as fine as powdered sugar

There is not — and I will take a hard, fast, definitive stance on this issue — a single place in these blessed United States that has better sand than the Emerald Coast. Not a one. It is paper white, fine, and as soft as the day is long. People who pay many millions for a house in the Hamptons are nuts, because the sand out there is crap: coarse, dark brown, and loaded with rocks and shells. Panhandle sand wins EVERY TIME.

It’s an easy drive from pretty much anywhere in the South

If you hail from somewhere below the Mason-Dixon line between Beaumont, Texas and Pensacola, Florida, “going to the beach” implies that you’re headed to the Gulf Coast. The only question is where you’re staying, and if you’d be so kind as to bring me back some tomatoes. New Orleans is a wonderful place, but a mere three-hour drive east will get you to Gulf Shores and Orange Beach, a trifle when it comes to travel time, and quick enough for a weekend getaway without having to buy plane fare or spend half of your vacation in traffic.

There’s so much more than just the beach

We’re talking movie theaters, mini golf, actual golf, go-karts, and amusement rides, as well as ocean-friendly activities like deep-sea fishing, Jet Skiing, and parasailing, guaranteeing that spending your hard-earned duckets on a Gulf Coast getaway is never a bad time. Also, there’s the Bon Secour National Wildlife Refuge, if you happen to enjoy viewing migratory birds, sea turtles, alligators, and of course, the endangered (and adorable) Perdido beach mouse.

Contact one of our agents today to see how you can get in on Owning your Piece of Paradise!

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Panama City Beach Real Estate Market

Panama City Beach Real Estate Market

Panama City Beach Real Estate Market

Panama City Beach Real Estate Market

Panama City Beach has experienced an 18.8% increase in closed sales year over year!

Economists’ note : Closed Sales are one of the simplest—yet most important—indicators for the residential real estate market. When comparing Closed Sales across markets of different sizes, we recommend comparing the percent changes in sales rather than the number of sales. Closed Sales (and many other market metrics) are affected by seasonal cycles, so actual trends are more accurately represented by year-over-year changes (i.e. comparing a month’s sales to the amount of sales in the same month in the previous year), rather than changes from one month to the next.

If you have been thinking about jumping into the Panama City Beach Real Estate Market, now is the time before prices go even higher! Contact one of our professional agents here at Life’s a Beach Real Estate and we will be happy to guide you through the process of finding your piece of paradise!

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Life’s A Beach Real Estate is a full service Real Estate Company on the beautiful Emerald Coast.  Our headquarters is located in one of the most unique condominium buildings on the beach, The Origin Beach Resort. We have over 700 condos for sale on Panama City Beach as well as beachfront and vacation homes in the world famous 30A area.  A large part of our business is Condo sales but we also assist our clients with new homes, investment opportunities, commercial properties, new construction and development.

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List your home in 2017!

Don't Be Surprised by Closing Costs

 List your home in 2017

List your home in 2017

With the start of the new year, families across the country will be deciding if this is the year that they will sell their current house and move into their dream home. Many will decide that it is smarter to wait until the spring “buyer’s market” to list their house. In the past, that might have made sense. However, this winter is not like recent years.

The recent jump in mortgage rates has forced buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!! At the same time, inventory levels of homes for sale have dropped dramatically as compared to this time last year.

Demand for your home is very strong right now while your competition (other homes for sale) is at a historically low level. If you are thinking of selling in 2017, now may be the time! Contact one of our agents today to get you started.

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Life’s A Beach Real Estate is a full service Real Estate Company on the beautiful Emerald Coast.  Our headquarters is located in one of the most unique condominium buildings on the beach, The Origin Beach Resort. We have over 700 condos for sale on Panama City Beach as well as beachfront and vacation homes in the world famous 30A area.  A large part of our business is Condo sales but we also assist our clients with new homes, investment opportunities, commercial properties, new construction and development.

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Florida Best for Business

Florida Best for Business

Florida Best for Business

 

Florida Best for Business

Florida ranked number five in the United States for ‘best business climate’ for the fourth straight year according to the 2015 State Business Tax Climate report conducted by the Tax Foundation.

The Tax Foundation looks at over 100 factors in order to create the annual ranking, including corporate tax, individual income tax, sales tax, unemployment insurance tax, and property tax to name a few.

States with the best tax systems tend to be the most competitive when attracting new businesses and are often the most effective at generating economic growth which leads to employment growth. When businesses move or open in Florida, they bring with them new jobs for the local communities. New jobs translates to more people working and therefore spending more money which allows for continued economic growth.

The Tax Foundation ranked states by individual tax categories as well. Florida was ranked 14 in corporate taxes, one in individual income taxes, 12 for sales taxes, three for unemployment insurance taxes, and 16 for property taxes. Florida attracts people from across the country not just for the sun and beaches, but also because of our lack of income tax as well as multiple other reasons.

For businesses and individuals, Florida is a good place to move!!

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Life’s A Beach Real Estate is a full service Real Estate Company on the beautiful Emerald Coast.  Our headquarters is located in one of the most unique condominium buildings on the beach, The Origin Beach Resort. We have over 700 condos for sale on Panama City Beach as well as beachfront and vacation homes in the world famous 30A area.  A large part of our business is Condo sales but we also assist our clients with new homes, investment opportunities, commercial properties, new construction and development.

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Buy Your Beach Dream Home

Buy Your Beach Dream Home

Buy Your Beach Dream Home

Looking to Buy Your Beach Dream Home? Do it Quick!

It appears that Americans are regaining faith in the U.S. economy. The following indexes have each shown a dramatic jump in consumer confidence in their latest surveys:

  1. The University of Michigan Consumer Sentiment Index
  2. National Federation of Independent Businesses’ Small Business Optimism Index
  3. CNBC All-America Economic Survey
  4. The Conference Board Consumer Confidence Survey

It usually means good news for the housing market when the country sees an optimistic future. People begin to dream again about the home their family has always wanted, and some make plans to finally make that dream come true.

If you are considering moving up to your dream home, it may be better to do it earlier in the year than later. The two components of your monthly mortgage payment (home prices and interest rates) are both projected to increase as the year moves forward, and interest rates may increase rather dramatically. Here are some predictions on where rates will be by the end of the year:

HSH.com:

“We think that conforming 30-year fixed rates probably make it into the 4.625 percent to 4.75 percent range at some point during 2017 as a peak.”

Svenja Gudell, Zillow’s Chief Economist:

“I wouldn’t be surprised if the 30-year fixed mortgage rate hits 4.75 percent.”

Mark Fleming, the Chief Economist at First American:

“[I see] mortgage rates getting much closer to 5 percent at the end of next year.”

Lawrence Yun, NAR Chief Economist:

“By this time next year, expect the 30-year fixed rate to likely be in the 4.5 percent to 5 percent range.”

Bottom Line

If you are feeling good about your family’s economic future and are considering making a move to your dream home, doing it sooner rather than later makes the most sense.

 

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Life’s A Beach Real Estate is a full service Real Estate Company on the beautiful Emerald Coast.  Our headquarters is located in one of the most unique condominium buildings on the beach, The Origin Beach Resort. We have over 700 condos for sale on Panama City Beach as well as beachfront and vacation homes in the world famous 30A area.  A large part of our business is Condo sales but we also assist our clients with new homes, investment opportunities, commercial properties, new construction and development.

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Real Estate Offices Panama City Beach

Real Estate Offices Panama City Beach

Real Estate Offices Panama City Beach

Real Estate Offices Panama City Beach

 

New Year, New Office! Life’s a Beach is proud to announce our new, very visible, office in the front portion of The Origin Beach Resort condo across the street from the world’s most beautiful beaches of Panama City Beach! The new Life’s a Beach office is next to the newest coffee and sandwich shop on the beach, The Saltwater Marketplace. While we have always had a presence in The Origin, our new location will provide a much more visible storefront and offer much easier access to our clients… not to mention some great coffee and sandwiches next door! Stop in to check out our new digs and let us help you find your piece of paradise!

15100 Front Beach Rd. 

Panama City Beach, Fl.

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Life’s A Beach Real Estate is a full service Real Estate Company on the beautiful Emerald Coast.  Our headquarters is located in one of the most unique condominium buildings on the beach, The Origin Beach Resort. We have over 700 condos for sale on Panama City Beach as well as beachfront and vacation homes in the world famous 30A area.  A large part of our business is Condo sales but we also assist our clients with new homes, investment opportunities, commercial properties, new construction and development.

SHORES OF PANAMA CONDO AUCTION99 Fully Furnished Condo Units for Sale
PRE-SELLING NOW! AUCTION DATE DEC 4TH!

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