Panama City Condo and Home Sales:

• Panama City Beach Condo Sales
• Panama City Homes for sale

There remains a significant number of distressed properties on the market, both foreclosures and short-sales. These properties continue to drive sales and have a significant impact on home and condo values .

Panama City Commercial Real Estate and Business  Sales:

• Panama City Commercial Sales
• Panama City Businesses for sale

Commercial Sales remain sluggish however we should begin to slight improvements in the commercial sector over the next few months which will continue to help the residential markets rebound.

Panama City Homes for sale

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 home or condo, contact me directly (850) 774-6582 for the latest information and pricing on any of the Panama City homes sale.

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

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Panama City Condo Sales:

• Panama City Beach Condo Sales
• (Home Sales posted shortly)

Panama City Commercial Sales:

• Panama City Commercial Sales
• Panama City Businesses for sale

There are still a significant number of distressed properties on the market, both foreclosures and short-sales. These properties continue to have an impact on home and condo values  as well as the local economy.

We are however, beginning to see slight increases in the commercial real estate sector which should help the residential markets rebound.

Panama City Homes for sale

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 home or condo, contact me directly (850) 774-6582 for the latest information and pricing on any of the Panama City homes sale.

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

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The condo market is in season and warming up for the rush!

The latest Panama City Real Estate Market Update has been posted for my visitors convenience.

Some interesting items of note for January’s market update:

• Condo sales increased significantly over last years numbers in large part due to the decline in prices. Condo prices remain at their lowest levels in years.
• The average sale price of a condo is around $185k, down from 2010 average price of $256k
• Single family home sales also increased over last years January sales volume.  Largely due to the short sale and foreclosure market still prevalent through out the country.
• Average Home sale prices plummeted this month in comparison to last January.  This years average January home price was around $164k while last January the average home price was around $182k

There has never been a better time to purchase a home or condo in the Panama City, Florida area.

When you’re in the market for a new home or condo, contact me directly 850.774.6582.  The deals are there, we just have to find you the right property to fit your needs.

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 Real Estate | Florida

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To get a true understanding of how Panama City, Florida’s foreclosure filings fared during the year 2010 and specifically the month of December**, we need to get a grip on what’s going on in Bay County (the home of Panama City,) the state of Florida, and the country as a whole. A foreclosure filing is defined as a default notice, auction sale notice or bank repossession.

Foreclosures – National View

Let’s start at the national level. How did 2010 compare to 2009, and what were December’s foreclosure filing numbers? According to RealtyTrac Inc’s 2010 Year End Foreclosure Report, results are mixed. Here’s what the report revealed:

• For the year 2010 as a whole, foreclosure filings for U.S. properties increased about 2% from 2009, and a whopping 23% from 2008.
• The report states that 2.23% of all U.S. housing units  (1 in 45) received at least one foreclosure filing during 2010, up from  2.21% 2009, and a meager .58% in 2006.
• Foreclosure filings were down 26% in December 2010 when compared to December 2009, representing the most significant annual drop in foreclosure action since 2005 according to RealtyTrac.
• Foreclosure filings were down 2% for the month of December over November. This translates to about 1 in every 501 housing units receiving a foreclosure filing in the month of December.

Foreclosures – Florida

So what kind of foreclosure numbers hit the state of Florida during the past year, and specifically December 2010?

Foreclosures – Bay County and Panama City

Closer to home in Bay County, 1 in every 564 housing units received a foreclosure filing in December 2010, for a total of 174 filings. Panama City’s results were a bit better than the national average, and certainly much better than Florida as a whole.

• 1 in every 769 housing units in Panama City, FL (or 86 units) received a foreclosure filing in December 2010.
• Within Panama City, zip code 32408 saw the most foreclosure filing action, with 30 properties receiving a foreclosure filing in the month of December 2010.

Why does Florida consistently rank as one of the states with the highest foreclosure rates? That’s a complex question that we won’t tackle here, but certainly part of the answer lies with speculative buyers who obtained oh-so easy financing during the last housing boom and bought, bought, bought. Florida was particularly inundated by speculative buyers. When the going got tough, the buyers simply got going.

Rental or vacation homes were virtually abandoned. It’s safe to say that fundamental troubles such as high unemployment, lethal loans and negative equity also played a large role in the debacle, and repairing the damage is bound to take years.

**December is the month for which the most recent reliable statistics are available.

Courtesy of Show Appeal Realty, an Arizona real estate brokerage selling Scottsdale Homes and helping homeowners with Phoenix short sales.

All information is provided by Show Appeal Realty and deemed reliable but not guaranteed by Jennifer Mackay, JenniferMackay.com, Keller Williams or Panama City Real Estate and Property Management, LLC
Jennifer Mackay and JenniferMackay.com does not endorse RealtyTrac Inc nor confirm their data to be accurate.

Panama City Homes for sale

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 home or condo, contact me directly (850) 774-6582 for the latest information and pricing on any of the Panama City homes sale.

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

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As well, thanks to many customer requests I am pleased to announce several new features for this year to the Panama City Real Estate Market Summaries…

Because some of my customers are interested in commercial and investment real estate while others are interested in beach front and water front condos and still others who are relocating to the area are primarily interested in Single family homes,  I’ve broken down the market summaries into subcategories.

If you’re primarily interested in:

• Panama City Beach Condo sales – I’ve added a new Panama City Beach Condo Sales Market Summary page.
• Panama City Homes for  sale – I’ve added a new Panama City Home Sales Market Summary page.
• Panama City Businesses for  sale – I’ve added a new Panama City Business Sales Market Summary page.
• Panama City Commercial Real Estate - I’ve added a new Panama City Commercial Real Estate Market Summary page.

I hope you find these new market summary features of value.

Remember, if you have a request for an additional feature to the site – contact me directly (850) 774-6582 and I’ll have my technology department research and see what we can provide.

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
Florida Real Estate | Panama City

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In September, the market posted significant gains in condo sales, however last month in October we saw an incredible drop in condo sales as prices edged up slightly!

Home sales in October, fared slightly better in sales however prices on Single family homes dropped significantly.

There is still a very high volume of distressed properties on the market, both foreclosures and short-sales which is having a significant impact on not only the real estate market, but also the local economy.

Let’s hope that as we end the year, the investor market and 1031 exchanges will help remove some of the distressed properties and help start the new year off heading in the right direction.

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 home or condo, contact me directly (850) 774-6582 for the latest information and pricing on any of the Panama City homes sale.

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

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Recently, I provided another interview for Bloomberg Businessweek: a very popular financial publication.

I hadn’t known the article was published until a new client contacted me and told me about it!

During the interview, I was very impressed not only of the knowledge and research they had done, but also their willingness to discuss the future prospects of the Panama City, Florida.

If you have not already read the article, you can read it here: Bloomberg Businessweek.

Basically, once again Panama City, Florida has made a real estate top 10.  This time as being one of America’s strongest housing markets for 2014.

With the new airport bringing in additional tourism in large part due to Southwest airlines, expected growth should skyrocket in the next few years.  Of course, our national economy has to strengthen to achieve some of the local goals – but I’m optimistic we are all moving in the right direction.

Now if we can just get the airports board of directors to understand Panama City needs not only increased tourism, but also:

• local business growth
• new small businesses
• major commercial distribution centers
• corporate headquarters
• other major retail and consumer industries

- our economic growth would expand at a phenomenal rate!  By bringing in both international and national franchises, all businesses and residents will prosper: More jobs = more business for local companies!  It’s a fairly easy equation – Don’t you think?

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

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It didn’t seem to matter that the Bay County area had little to no oil on the beach.  If anyone is in doubt as to whether the oil spill affected the Panama City real estate market, here is the proof…

Here then is the Panama City real estate market summary for July 2010 (it’s not good):

Panama City Beach condo sales decreased significantly while prices increased slightly a bit during July. Is it any wonder sales decreased?  We had an oil spill not far from us, and condo owners and real estate agents were trying to raise prices!

Prices on single family home prices continued their decline while sales volume dropped significantly.

We do however, continue to experience higher than normal volumes of visitors to the Panama City real estate website, as well as higher than normal rental inquiries.  This is a clear indication that buyers are still in the market, but they want the cheapest deal on the block!

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
Florida Real Estate | Panama City

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Panama City Beach condo sales increased significantly however, prices were dropped a bit this month. This is obviously good news for buyers wanting to purchase vacation condo on the gulf.

Prices on single family home prices increased slightly while sales volume increased significantly.   This is of course great news for the local real estate market.

As we enter the busiest real estate season as well as less than 3 weeks to the opening of the new airport we expect to see significant increases in sales and prices for all property types.

We also continue to experience higher than normal volumes of visitors to the Panama City real estate website, as well as higher than normal rental inquiries.

If you’ve been waiting for the bottom of the market to purchase Panama City real estate – you have just missed it!  It’s time to invest, buy and upgrade.

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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While sales and prices were slightly higher than last January, single family home prices slipped slightly last month.

As we near the start of the busiest real estate season as well as opening day of the new airport we expect to see significant increases in sales and prices for all property types.

We are already experiencing higher than average volumes of visitors to the Panama City real estate website, as well as higher than normal rental inquiries.

Owners, put my team and technology to work for you to sell your home, commercial building, land or condo, contact me today (850) 774-6582 for a free no obligation property value report.

Buyers, contact me directly (850) 774-6582 for the latest information and pricing on any of the Panama City Beach Homes or condos for sale.

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

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