As the leader in technology oriented real estate assistance in Bay County Florida, I am pleased to announce, that once again JenniferMackay.com is setting the standard with our newest unique and exclusive feature – LifeStyle Searching…

One of the most often requests from our customers searching for a new home or condo is “In what school system is the home.”

With my newest LifeStyle search you can now easily locate homes near the school system you prefer.

And that’s not all…

Many home searchers require medical facilities to be near their residence, some prefer to be near or on the beach and still others prefer to be close to a church of their denomination.  With my new LifeStyle search feature, customers and visitors can find homes nearest to the LifeStyle they prefer.

Unsure where that condo complex is you’ve found? – My LifeStyle search will not only show you where it is, but also restaurants, family entertainment, schools and other points of interest close by.

From Restaurants, to schools, to community and entertainment specialties as well as transportation and hotels, I believe LifeStyle searching is the future of real estate searching.

Even if you’re not currently in the market for a home or condo, you can use the LifeStyle search to find entertainment, shopping, hotels, transportation, medical facilities and more in and around Panama City and Panama City Beach, Florida.

Give it a try and let me know your thoughts – I’m sure you’ll find our LifeStyle search the easy, convenient way to find your next Panama City home or condo.

Owners, put my technology to work for you. If you are interested in selling your home or condo, contact me today (850) 774-6582 for a free no obligation Home value report.

Buyers, when you’re ready to purchase a Panama City Beach Gulf or Bay front condo for your vacation home, contact me directly (850) 774-6582 for the latest information and pricing on any of the Panama City Beach condos for sale.

Jennifer Mackay
850-774-6582
Panama City Homes and Condos | Your Local Real Estate Expert

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Besides making sure your real estate agent not only knows what a 1031 Exchange is, it is imperative that your agent also know how the details must be handled.

At The Panama City Real Estate Team we have several fully qualified licensed real estate agents who have not only worked with our clients on 1031 Exchanges, but also have bought and sold their own property through a 1031 Exchange.

Here are a few of the details most important to all 1031 Exchanges:

• A transaction may only qualify for a tax deferred exchange if it adheres to the 1031 exchange rule as outlined in the US tax code and follows treasury regulations.
• The properties involved in the 1031 transaction must be “Like Kind“
• Both properties involved in the transaction  must be held for productive purpose in business or trade, as an investment.  In other words, your primary residence does NOT qualify as a 1031 exchange property!
• The proceeds from the sale must go through the hands of a “qualified intermediary”
• The entire cash proceeds from the sale must be reinvested in acquiring new real estate property of “Like Kind“
• The replacement property is subject to an equal to or greater than level of debt than the property sold.  In other words, the property/properties your are buying must cost the same or be greater than the one you are selling.  It is quite common for more than 1 property to be identified as needed to meet this requirement.
• When considering the sale of a property for 1031 Exchange, you must identify the replacement properties to purchase within 45 days from the day of selling the relinquished property. This 45 day deadline is not extend-able, even if the 45th day falls on a weekend day or legal US holiday.
• Your must receive the replacement property/properties on or before 180 days after the date on which the relinquished property is transfered or the due date for your tax returns for the taxable year in which the transfer of the relinquished property has occurred, whichever is earlier. This 180 day deadline is not extend-able, even if the 45th day falls on a weekend day or legal US holiday.

With over 10 years experience in Real Estate, Title and Escrow procedures, I am not only well versed and knowledgeable in 1031 exchange procedures, but I also have significant personal experience as I’ve utilized 1031 exchanges for my investment properties.

Who better to help you with your 1031 exchange, then an agent who is also a real estate investor.

I work with several Qualified Intermediaries through out the country to assist you with meeting your 1031 Exchange deadlines.

When you need a Panama City Real Estate agent with experience and knowledge in 1031 Exchange services, I am here to help. Contact me today directly (850) 774.6582 for more information.

Jennifer Mackay
850-774-6582
Panama City Real Estate | Florida

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House Backs Update of Flood Insurance (Washington Post (07/16/10) P. A16)

The House has voted to revamp the National Flood Insurance Program by increasing premiums, deductibles and coverage; and phasing out subsidies for vacation homes and for people living in flood-prone areas. The Senate will now take up the bill for the NFIP, which is saddled with debt due to billions of dollars of losses from Hurricane Katrina and population growth in flood zones and which has not been updated by Congress since
1994.

Owners, put my technology to work for you.  If you are interested in selling your home or condo, contact me today (850) 774-6582 for a free no obligation Home value report.

Buyers, when you’re ready to purchase a Panama City Beach Gulf or Bay front condo for your vacation home, contact me directly (850) 774-6582 for the latest information and pricing on any of the Panama City Beach homes sale.

Jennifer Mackay
850-774-6582
Panama City Real Estate | Florida

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I looked and looked and finally was able to find the phone number buried deep within a BP website…

The number for injured wildlife due to the oil spill is (866) 557-1401.

Use that number if you see any wild life affected by the oil spill and need of assistance.

Jennifer Mackay
850-774-6582
Panama City Real Estate | Florida

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Attached are the May statistics for the State of Florida as calculated by information generated by Florida REALTORS.

Each month each member association of Florida REALTORS sends their monthly data to the University of Florida which is then placed in the charts attached.

panama-city-real-estate-may-2010-condo-sales-chart

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While the data shows dramatic drops in condo sales and prices from last year, there is a marked improvement in home sales volume with a slight decrease in price.

You can download the Panama City Home Sales report and the Panama City Condo Sales report

If I continue to receive the report, I’ll add it the Panama City Real Estate website as a new featured section.

Jennifer Mackay
850-774-6582
Panama City Real Estate | Florida

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CITIMORTGAGE ANNOUNCES FORECLOSURE SUSPENSION PROGRAM TO HELP DISTRESSED HOMEOWNERS IN THE GULF OF MEXICO REGION

Three-Month Suspension Effective June 17 through September 17

NEW YORK (June 16, 2010) – Citi Chief Executive Officer Vikram Pandit today announced a foreclosure suspension program for CitiMortgage-owned mortgages in coastal areas hard-hit by the oil spill in the Gulf of Mexico. The aim of this program is to allow distressed homeowners to remain in their homes during these uncertain times as the Gulf communities respond to the oil spill and its economic repercussions. During the three-month suspension, effective June 17 through September 17, 2010, borrowers with first mortgage loans owned by CitiMortgage and who meet certain other criteria will not be subject to foreclosure sales or foreclosure notifications. While CitiMortgage does not own all of the loans it services, the company hopes to help as many borrowers as possible with this initiative.

Vikram Pandit, Chief Executive Officer of Citi said, “By putting CitiMortgage foreclosures on hold, we aim to ease the burden on residents of the Gulf states so they can concentrate on the most urgent matters facing them. In the midst of this crisis, we will continue to explore ways to help people avoid foreclosure so they and their families can remain in their homes and have one less thing to worry about.”

“We hope that with this suspension we can help ease some of the financial stress for our customers in the affected Gulf region,” said Sanjiv Das, President and Chief Executive Officer of CitiMortgage. “Many of them are facing financial hardship as a result of the spill, and we want to help support them during this very unsettling time,” Mr. Das added.

CitiMortgage’s Gulf region foreclosure suspension affects only those loans it owns in the region. Under the program, CitiMortgage will halt all foreclosure sales on first mortgage accounts in highly impacted coastal areas through September 17th. In addition, evictions on real estate owned properties (REO) will cease during this time. CitiMortgage borrowers occupying residences in zip codes within approximately 25 miles of affected coastal areas will be eligible for the program.

Speaking for Citi’s community-based consumer finance business, Mary McDowell, President and Chief Executive Officer of CitiFinancial North of America said, “CitiFinancial remains committed to working closely with customers, community leaders, business partners, the government and other stakeholders to address the national housing situation. We are also especially concerned about our customers in the Gulf region that are affected by the oil spill, and we want to do what we can to help them. Because we have an on-the-ground presence in the Gulf communities where we operate, we can work closely with customers individually to help provide solutions if they are having difficulty making their mortgage payments.”

Citi has a number of programs in place to help homeowners in financial distress. Citi’s existing Homeowner Assistance Program is a multi-faceted foreclosure prevention initiative that has helped more than 900,000 homeowners in their efforts to avoid potential foreclosure and remain in their homes since the housing crisis began in 2007. Citi currently makes strenuous attempts to establish contact with distressed borrowers and help them avoid foreclosure. The company does not initiate or complete a foreclosure sale on any eligible borrower when the following criteria are met: CitiMortgage owns the mortgage; the borrower is seeking to stay in the home, which is his or her primary residence; the borrower is working in good faith with Citi; and, the borrower has sufficient income for affordable mortgage payments.

If you have a mortgage with this company, you may want to contact them if you are having difficulty meeting your mortgage responsibility.

Jennifer Mackay
850-774-6582
Panama City Real Estate | Florida

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Released yesterday by the Governor’s office – Thanks to Kathy Hallmon at Vision Bank…

Short-term loans of up to $25,000 will be available to owners of small businesses (less than 100 employees) in counties impacted by the recent oil spill.  The interest-free loans come in terms of 12 month maturities.  To be eligible, a business owner must have been operational for one full year prior to the Deepwater Horizon Oil Spill on April 20, 2010, and demonstrate physical damage or economic injury as a result of the oil spill.

Applications for businesses will be available Monday, June 14, 2010.  To receive an application or more information on the program, please contact the Governor’s Office of Tourism, Trade, and Economic Development at (850) 487-2568.

The Emergency Bridge Loan program authorized today is in addition to a federal loan program that was requested by Governor Crist and approved by the U.S. Commerce Secretary on May 14, 2010.  The federal Economic Injury Disaster Loan can help eligible small businesses meet the necessary financial obligations they could have met, had the disaster not occurred.

Interest rates for businesses and small agricultural cooperatives are as low as four percent, and for non-profit organizations rates are as low as three percent, with terms up to 30 years.  Affected business owners can visit the SBA website for more information on this program at www.sba.gov/services/disasterassistance.

Jennifer Mackay
850-774-6582
Panama City Real Estate | Florida

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CNN and the web (Google News as an example) are 2 of the best resources for up to the minute updates on the Oil Spill in the Gulf of Mexico.

In the mean time, here is what we know (First hand)…

Tar balls have landed in Pensacola but as of yet have not been sighted in Panama City Beach, Florida

The following Satellite image is courtesy of NOAA (National Oceanic and Atmospheric Administration):

If you click on the image you can see a clear path the oil is predicted to make towards the east.

While the Panama City Beach area may see a few tar balls, it is not expected to be as devastating as it is in other areas.

Our best wishes go out to everyone affected by this tragedy and we hope for a speedy resolution and clean up to the areas and wildlife currently affected.

Jennifer Mackay
850-774-6582
Panama City Real Estate | Florida

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Between the ribs, chicken, hot dogs, hamburgers and all the fix-in’s; not to mention the great company, once again our annual celebration was the place to be.

The kids played in the pool, while the rest of us enjoyed and gave thanks to the men and women of the U.S. Armed Forces who have given the ultimate sacrifice so we are able to enjoy these types of get togethers with friends and family.

The highlight of the day was the attempted rescue of a giant carp in the Forest Park creek we’ve affectionately named “Calvin”.

As Natalie McQueen and Christina Daneils husband – DonTrel waded into the creek, in an attempt to sneak up on “Calvin the Carp”, the kids and the rest of the team waited safely and patiently on the bridge.

Anxiously and dubiously we watched as the two of them attempted the rescue of “Calvin” with a fishing net.

The purpose of the rescue was to catch and release “Calvin” in a larger pond so he/she could swim and prosper.

Fortunately or unfortunately depending how you look at it, the rescue was not successful.

Undaunted, Natalie and Turell vowed to attempt another rescue soon.

If you are a real estate agent in the Panama City, Florida area and are not having as much fun with your team why not call me today?

The Panama City Real Estate Team is one of the top producing real estate teams in the area.

Don’t you 0we it to yourself and your family to make the most of your Panama City real estate career?

We can help…

The Panama City Real Estate Team

If you are a licensed real estate agent and would like to join our award winning Panama City Real Estate team, why wait?.  Contact me today (850) 774.6582 and learn how we can help you take your real estate career to the next level.

Jennifer Mackay
850-774-6582
Panama City Real Estate | Florida

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In these difficult times I believe in giving thanks to those currently serving in the U.S. Military without whom today would not be possible.

These men and woman give of themselves unselfishly so that the rest of us are able to enjoy the freedoms only the U.S. provides to its citizens.

We as a country are not perfect but we strive to better ourselves and those we call allies and friends.

It is the men and woman of the U.S. military that make this possible.

Thank you to all those who have and are currently serving in the U.S. military.  Know that your service is appreciated and you are all in our thoughts daily.

From JenniferMackay.com and The Panama City Real Estate Team, we wish those who are currently in harms way a safe return to their loved ones, friends and family.

One way the team and I can show our appreciation is working diligently for our military relocation families.  We do our small part in showing thanks by making sure your relocation and home purchase proceeds as smoothly and without incident as possible.

Best wishes to all.

Jennifer Mackay
850-774-6582
Florida Real Estate | Panama City

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