Panama City Real Estate - Market Summary - November 08

The November market summary has been posted and it appears the Panama City Real Estate market is once again heading in the right direction.

In addition, the latest edition of Linda’s Mortgage Newsletter has been added as well.

If you???ve been waiting for the Panama City Real Estate market to bottom out, I suggest you wait no longer. Pricing for most homes and condos are at an all time low, and the trend is about to reverse.

Also, remember if you are a first time home buyer, the Home buyers credit will expire very soon.

Contact me directly (850) 774-6583 if you require additional information or need assistance with your Panama City Real Estate purchase or sale.

After reading the information contained on their website, I believe it important to provide information relating to asbestos insulation and the dangers of Mesothelioma to my visitors and customers.

Here are a few facts and quotes from their website:

Exposure to asbestos has proven to result in a wide range of health conditions, including mesothelioma, a deadly cancer that attacks the lining of the lungs, heart, or abdomen. This rare form of cancer is almost exclusively caused by asbestos exposure

Asbestos insulation has been used in millions of homes throughout the last quarter of the 20^th century

Homes built after 1980 have the strong likelihood of containing asbestos

Many veterans who worked in shipyards and aboard warships and submarines were heavily exposed to asbestos through standard operations.

Asbestos is a naturally occurring entity mined in many states in the U.S.

If you’d like to learn more about asbestos exposure or mesothelioma, I encourage you to visit their site: Mesothelioma Cancer Center and join their effort to prevent asbestos exposure.

You will find a wealth of information provided free and is of paramount importance to home buyers and their families everywhere.

If you’d like additional information on location and removal of asbestos please contact me directly. There are many resources available to those in need of this type of service.

Panama City Beach Real Estate - Seahaven

On December 13, 2008 at 11:00 a.m., The Origins at Seahaven located at 15238 Front Beach Road, Panama City Beach, FL 32413 will auction over 60 condos - 2/3 and 4 bedrooms.

Specifics include:

• There are no minimum bids and no reserves.
• 10% down
• Closing no later than 30 days from auction date
• +10% buyer premium paid at closing.
• Pre-sale inspections dates are to be announced

This condominium complex is the first phase in a series that will make up the development known as the Towne of Seahaven in Panama City Beach Florida.

Additional Origins of Seahaven information can be found at Panama City Beach Condos for sale

If you’d like to bid on these condos, contact me directly (850) 774-6582 for additional information.

If you’ve ever wanted to bid on property at a real estate auction but weren’t quite sure how or what to do, read my article: How to buy or sell property at a real estate auction it will provide you the necessary information you need to get started!

With that in mind, I’ve recently been informed of a few more Panama City Beach real estate auctions:

7043 Benton Dr - Custom Waterfront Home.?? Open house Sunday, November 9th 1:30 - 4:00 pm.

• Built in 2007
• 3900 Sq. Ft. (approx.)
• 4 bedrooms
• 3 floors w/elevator
• 205 ft. frontage on East Bay (approx.)

And 2 more Absolute auctions:

Hwy 231 - Fountain, FL

• Zoned Residential
• 100 Ft frontage on Hwy 231 (approx.)
• Selling regardless of price

Ring Road - Fountain, FL

• 10+ acres (approx.)
• Zoned Residential
• Selling regardless of price

If you’d like to offer a bid on any of these, contact me directly (850) 774-6583

Panama City Real Estate - Market Summary - October 08

The October market summary has been posted and it appears the Panama City Real Estate market is once again heading in the right direction.

New website feature:

In addition, I’ve added a new Commercial Market Summary page due to my investor client requests.?? I’ve updated the page for the entire year, so investors can follow the Panama City Commercial Real Estate market progress.

New Blog Feature:

I’ve recently added a new blog feature for my listings.?? Once I have it prepared, you should see a nice new feature added for my listings.

If you’ve been waiting for the Panama City Real Estate market to bottom out, I suggest you wait no longer.?? Pricing for most homes and condos are at an all time low, and the trend is about to reverse.

Also, remember if you are a first time home buyer, the Home buyers credit will expire very soon.

Contact me directly (850) 774-6583 if you require additional information or need assistance with your Panama City Real Estate purchase or sale.

Investing in Panama City Florida Real Estate

Many of my visitors have commented on my real estate articles.?? These articles are not only found on the many article sites as well as my own, but also can be found in several publications.

One such publication I write for: Invest Magazine, has a very generous promotion at the moment.

Here is the current promotion for you to obtain a 1 year free subscription:

INVEST Magazine is showing their appreciation of my personal contribution as a Contributing Writer and is allowing me to offer you a FREE 1 Year Subscription to their Digital Magazine. Enjoy!

FREE 1 year Digital Subscription to INVEST Magazine!

You heard it right, the fastest growing real estate investment publication in the country, would like to offer you a FREE 1 year subscription.

?? Absolutely Free

?? No credit card required

Click Here to Start your Subscription

Enter coupon code jandj1

Each issue is jam packed with the latest trends, opportunities, strategies, tips and tools to help you succeed in today???s real estate market. INVEST covers all aspects of investing from Residential, Commercial, International, Beginners, Market Analysis, Personal Growth and much more???

In February, 2008 the Plaintiffs filed this lawsuit challenging the legality of a U.S. Army Corps of Engineers permit and attempted to obtain a temporary restraining order to suspend the permit and stop the construction of the Northwest Florida’s new airport. The Court denied the Plaintiffs’ Motion for a Temporary Restraining Order

In his ruling issued today, Judge Timothy J. Corrigan of the United States District Court for the Middle District of Florida, Jacksonville Division found that “the record supports that the Corps considered the concerns raised by those who opposed the project and the comments of those who favored it, it considered the FAA’s position, and it considered the goal of the Authority before determining that the project purpose should appropriately include flexibility for growth opportunities sufficient that international charter operations could use the airport.”

Read the full story

For those of you who have been watching the Panama City Real Estate market: we’re starting to see a significant turn in buyers. If you’ve been waiting for the right time to invest or buy property in the Panama City area, don’t wait much longer.

Contact me today!

While not in Panama City, Destin is located just west of Panama City and is a beautiful town.

Saturday, November 18th Unit# 1715 at The Palms of Destin in Destin, Florida.

Preview and open house on Sunday, November 2nd 1:30 p.m. - 4:00 p.m.

Features of this unit include:

• Furnished and Decorated
• Gulfview
• 1150 sq. ft. (approx.)
• 2 bedroom/2 bath

For more information, contact me directly for bidder information (850) 774-6582.

Interest rates and prices for properties are at the lowest they’ve been in years. The current Panama City and Panama City Beach Real Estate markets have good commercial, residential and condo opportunities for those in the market for investments or in need of 1031 exchange opportunties.

1031 tax deferred property exchanges are exchanges in which capital gains tax deferral is available to real estate owners who sell their investment, rental, business or vacation real estate, and reinvest the net proceeds in other qualified real estate. Real Estate held for these purposes are called like-kind/1031 properties.

Section 1031 of the U.S. Internal Revenue Code allows investors to defer capital gains taxes on the exchange of like-kind properties. 1031, or tax-deferred, exchanges hold great advantages for both investors and Real Estate owners.

Here are several important factors and considerations for 1031 exchanges:

• There are two import 1031 Exchange periods that must be adhered to:
  1. Identification period - This is the period during which the party selling a property must identify other replacement properties that the seller proposes to buy. This period is scheduled as exactly 45 days from the day of selling the relinquished property.
  2. The Exchange Period: This is the period within which the party who has sold the property must receive the replacement property. This period ends at exactly 180 days after the date on which the party transfers the property relinquished or the due date for the person’s tax return for that taxable year in which the transfer of the relinquished property has occurred, whichever situation is earlier.
• Only qualified properties may be considered in a 1031 exchange
• The 1031 Exchange may include more than one qualified property.
• The total purchase price of the replacement “like kind” qualified property must be equal to, or greater than the total net sales price of the relinquished property.
• All the equity received from the sale, of the relinquished real estate property, must be used to acquire the replacement, “like kind” qualified property.

When you need more information on Panama City Beach Florida Real Estate and 1031 Tax Exchanges, contact me or call me directly (850) 774-6582.

Put my experience to work for you!

Condos were sold ranging in price from:

4 bedrooms - $ $305,00 (+10% buyers premium) - $380,000

The magic sale occurred for the 2 bedroom units which went for $205,000 (+10% buyers premium). This price point is pretty much where I thought they might sell. But, you never know.

If you are interested in Panama City Beach Real Estate Auctions, please contact me directly (850) 774-6582 and I’ll keep you informed of all the upcoming auctions.