One of the best ways for a buyer to move in on a great deal is attending Auctions. More and more developers are looking to auctions to bring out the crowds. There are two players in the Auction business here in the Panama City Beach Florida Condominiums market. Both have done fairly well, but it depends on the background on the developer...some developers have the standing power to wait for the market to come back, while others have to sell and the bank is willing to take some of the heat. Who really knows what will happen when it's all said and done but we feel the supply needs to go away!!! The auction is the quickest way to make that happen. The Panama City Real Estate market is really in need of more of this. Stay tuned to InvestSmarter.com for updates on these auctions and what is coming down the pipeline.
Daily Real Estate News September 12, 2008
Auctions Help Condo Sales Get on Track
Condo developers are turning to auctions to unload properties that won’t sell otherwise.
Jon Gollinger, co-founder of Accelerated Marketing Partners, a consulting firm that handles real estate auctions of high-end properties, says developers are grappling with how to establish prices in this declining, turbulent market.
"Why try to catch a falling knife? Let it hit the ground. That's what an auction does," he says.
"In today's market, selling the traditional way by cutting prices till you get traction is almost counterproductive," adds Charles Barrus, development director for Wood Partners, an Orlando-based developer. "An auction is transparent, and if you can live with that pricing, we found there is a big tailwind after the auction."
Greg Wohl, principal of The InVision Group LLC in Atlanta, agrees. After the credit crunch left his 147-unit project with dozens of unsold units, he held an auction in June. With careful marketing to emphasize that it wasn't a foreclosure or bankruptcy fire sale, Wohl sold 27 condos on auction and generated strong publicity.
Thanks to increased traffic in the building, he was able to sell most of the remaining condos in the weeks following the auction.
"When no one is buying anything," Wohl says, "18 post auction sales in two months is pretty darn good."
Source: The Wall Street Journal, Jonathan Karp (09/10/08)
The only real negative is that you are buying as is...you have to preview before and make your decission, plus be ready to go! There is typically a buyer's premium of 10% to the auction, so that's something to think about also....but we can help if needed so please take some time to look online at http://www.panama-city-beach-florida-condominiums.com/ for more information about what is for sale and the up coming Condo Auctions
For information on Auctions throughout Northwest Florida please visit http://www.randbcoastalrealestate.com/ for more information.
Saturday, September 13, 2008
Thursday, August 21, 2008
Housing Starts Reach a 17-Year Low
Housing Starts Reach a 17-Year Low
Housing starts fell 11 percent in July compared to June, their lowest level since January 1991, the U.S. Commerce Department reported yesterday.Permits for single-family homes fell 5.2 percent month-over-month and 41.4 percent compared to July 2007.Building permits, an indicator of construction plans, fell to an annualized pace of 937,000, 17.7 percent below June and 32.4 percent lower than in July 2007. "The housing market is in a deep recession, and it is getting worse," Global Insight economist Patrick Newport told clients in a conference call.Ken Goldstein, economist for The Conference Board, said the gloomy construction numbers might not be as bad as they look. "It's not good news, but it's not a catastrophe," he says. "We're seeing signs that housing is closer to bottoming than we were six months to a year ago."Source: USA Today, John Waggoner and Barbara Hagenbaugh (08/20/2008)
For more information on the condo market in Panama City Beach Florida please visit http://www.investsmarter.com/.
For more information on Panama City Florida and Destin Florida Real Estate please visit http://www.randbcoastalrealestate.com/
Housing starts fell 11 percent in July compared to June, their lowest level since January 1991, the U.S. Commerce Department reported yesterday.Permits for single-family homes fell 5.2 percent month-over-month and 41.4 percent compared to July 2007.Building permits, an indicator of construction plans, fell to an annualized pace of 937,000, 17.7 percent below June and 32.4 percent lower than in July 2007. "The housing market is in a deep recession, and it is getting worse," Global Insight economist Patrick Newport told clients in a conference call.Ken Goldstein, economist for The Conference Board, said the gloomy construction numbers might not be as bad as they look. "It's not good news, but it's not a catastrophe," he says. "We're seeing signs that housing is closer to bottoming than we were six months to a year ago."Source: USA Today, John Waggoner and Barbara Hagenbaugh (08/20/2008)
For more information on the condo market in Panama City Beach Florida please visit http://www.investsmarter.com/.
For more information on Panama City Florida and Destin Florida Real Estate please visit http://www.randbcoastalrealestate.com/
Thursday, July 10, 2008
Now what's going to Happen?
Could it get worse? Who knows..but the article below doesn'ts sound good that's for sure! We have talked about the factors affecting the Panama City Beach Florida Condominium market online at www.InvestSmarter.com for the last few months and luckily prices are coming to a stable and affordable point. However, what is going to happen next? Who knows...right now there are more and more issues surrounding this ever changing market. Take some time to review what's happening and the new potential legislative actions around lending laws below and see what could happen to the Real Estate market not only in Panama City but across the country!
Fannie and Freddie May Face New Rules
Shares of Fannie Mae and Freddie Mac rose Tuesday after falling precipitously on Monday over worries that new accounting standards would require them to raise new capital.The Financial Accounting Standards Board is reviewing a rule that might force financial firms to take mortgage-backed securities that are currently off their balance sheets and place them on balance sheets.If Fannie and Freddie were to have to add portions of their securitizations business back on to their balance sheets, Fannie Mae would need to raise $46 billion in cash to meet capital requirements, while Freddie Mac would need to raise $29 billion, Lehman Brothers analyst Bruce Harting wrote in a research note Monday.The accounting board has made no decision on changing its rules, and any proposal would include a "rigorous" review process that would likely take several months, Neal McGarity, a spokesman for the group said.
Source: The Associated Press, Stephen Bernard (07/08/2008)
So where are we really going? Noone really knows but to stay on top of what's available in the Panama City Beach Florida Condominium market visit us online today at www.panama-city-beach-florida-condominiums.com to see what might be right for you.
Use the map tool to locate some of the best deals along the Emerald Coast!
Fannie and Freddie May Face New Rules
Shares of Fannie Mae and Freddie Mac rose Tuesday after falling precipitously on Monday over worries that new accounting standards would require them to raise new capital.The Financial Accounting Standards Board is reviewing a rule that might force financial firms to take mortgage-backed securities that are currently off their balance sheets and place them on balance sheets.If Fannie and Freddie were to have to add portions of their securitizations business back on to their balance sheets, Fannie Mae would need to raise $46 billion in cash to meet capital requirements, while Freddie Mac would need to raise $29 billion, Lehman Brothers analyst Bruce Harting wrote in a research note Monday.The accounting board has made no decision on changing its rules, and any proposal would include a "rigorous" review process that would likely take several months, Neal McGarity, a spokesman for the group said.
Source: The Associated Press, Stephen Bernard (07/08/2008)
So where are we really going? Noone really knows but to stay on top of what's available in the Panama City Beach Florida Condominium market visit us online today at www.panama-city-beach-florida-condominiums.com to see what might be right for you.
Use the map tool to locate some of the best deals along the Emerald Coast!
Tuesday, June 24, 2008
The Market Turns For All Businesses
And not in a good way. We are seeing increases in our prices of milk, interest rates, and now even the movers are feeling the pain and pressure. At www.InvestSmarter.com we are not looking at just the basics of real estate, but what all factors lead to and the end result for all types of business. The article below sheds some interesting facts into not only the Atlanta market, but also markets like the Panama City Beach Florida Condominium market:
Daily Real Estate News June 24, 2008
Movers Are Feeling the Pain
Movers are feeling the pain of both gas prices and slow home sales.Nationwide, household moves dropped nearly 18 percent from January of 2007 to this January, says John Bisney, director of public relations for the American Moving and Storage Association.Erik Christensen, owner of Bulldog Movers in Atlanta, says his revenues have dropped by 20 percent in the last year while fuel costs have climbed from 1 percent of his total costs to 5 percent. Overall, his profits have dropped 50 percent. Meanwhile, the do-it-yourself moving business at U-Haul has been steady. Nearly half of the company's moves take place between Memorial Day and Labor Day, and "it's been business as usual," says Joanne Fried, director of U-Haul's media relations.Source: The Atlanta Journal-Constitution, Rachel Pomerance (06/24/2008)
For more information on property available for sale in Panama City Beach Florida please visit www.panama-city-beach-florida-condominiums.com
Have a wonderful day!
Daily Real Estate News June 24, 2008
Movers Are Feeling the Pain
Movers are feeling the pain of both gas prices and slow home sales.Nationwide, household moves dropped nearly 18 percent from January of 2007 to this January, says John Bisney, director of public relations for the American Moving and Storage Association.Erik Christensen, owner of Bulldog Movers in Atlanta, says his revenues have dropped by 20 percent in the last year while fuel costs have climbed from 1 percent of his total costs to 5 percent. Overall, his profits have dropped 50 percent. Meanwhile, the do-it-yourself moving business at U-Haul has been steady. Nearly half of the company's moves take place between Memorial Day and Labor Day, and "it's been business as usual," says Joanne Fried, director of U-Haul's media relations.Source: The Atlanta Journal-Constitution, Rachel Pomerance (06/24/2008)
For more information on property available for sale in Panama City Beach Florida please visit www.panama-city-beach-florida-condominiums.com
Have a wonderful day!
Monday, June 16, 2008
Interest Rates on the Rise
So what's happening now..lending is already getting tighter...hey who is getting loans these days anyway? Glad to see that some are still able to make it happen. The condo market in the Northern Florida area is getting more and more difficult to fund loans and unfortunately rise rates won't help much either.
Daily Real Estate News June 16, 2008
Greenspan Predicts Rise in Interest Rates
The credit crisis is under control, but with inflation now the top concern, higher interest rates can be expected, said former Federal Reserve Chief Alan Greenspan said last week.Greenspan said he thought the credit crisis had peaked in March. "I think the worst is over (for the U.S. economy) if the financial crisis is over," Greenspan said via video link to an event in Mexico.But to keep inflation under control, Greenspan said the fed will have to tighten monetary policy and that will drive up interest rates.Source: Reuters News (06/13/2008)
There are always two parts to any story and of course we are not anywhere near the level of Mr Greenspan, but one much wonder, is the worst really over? More and more cases of foreclosure and short sales continue to plague the market. But hey, he's in Mexico right? For more information on investing in real estate in and around the Panama City Beach Florida Condominium market please visit www.InvestSmarter.com
Daily Real Estate News June 16, 2008
Greenspan Predicts Rise in Interest Rates
The credit crisis is under control, but with inflation now the top concern, higher interest rates can be expected, said former Federal Reserve Chief Alan Greenspan said last week.Greenspan said he thought the credit crisis had peaked in March. "I think the worst is over (for the U.S. economy) if the financial crisis is over," Greenspan said via video link to an event in Mexico.But to keep inflation under control, Greenspan said the fed will have to tighten monetary policy and that will drive up interest rates.Source: Reuters News (06/13/2008)
There are always two parts to any story and of course we are not anywhere near the level of Mr Greenspan, but one much wonder, is the worst really over? More and more cases of foreclosure and short sales continue to plague the market. But hey, he's in Mexico right? For more information on investing in real estate in and around the Panama City Beach Florida Condominium market please visit www.InvestSmarter.com
Friday, May 16, 2008
New Reviews For Panama City Beach Condos: Aqua and Boardwalk Beach Resort
We're up and running...see more information about Aqua Panama City Beach and Boardwalk Beach Resort please see below. These internal sites are dedicated to providing you more information about the condos for sale in Aqua and Boardwalk:
http://www.panama-city-beach-florida-condominiums.com/Boardwalk-Beach-Resort-Panama-City-Beach/
http://www.panama-city-beach-florida-condominiums.com/Aqua-Panama-City-Beach/
Let us know if there is another subdivision you would like easier and quick access to!
More to come on the condominium front also so make sure you stay tuned there!!!
http://www.panama-city-beach-florida-condominiums.com/Boardwalk-Beach-Resort-Panama-City-Beach/
http://www.panama-city-beach-florida-condominiums.com/Aqua-Panama-City-Beach/
Let us know if there is another subdivision you would like easier and quick access to!
More to come on the condominium front also so make sure you stay tuned there!!!
Wednesday, May 14, 2008
New Rental Website for Panama City Beach Florida Condominium
We hope all is going well for everyone. We have just launched a new website for rentals in Panama City Beach Florida for condominiums. We have a wonderful 4 bedroom 4 bath unit that's avaible for rent through the summer and winter season. It can be found online at www.oceanritz2003.com. This unit is on the Gulf of Mexico and has an oversized balcony that makes it wonderful for viewing the Emerald Green Waters of the Gulf! The boating and fishing in this area are also outstanding. Shopping is yet another great feature and necessity for any vacation! All of this information is online also at that site. We hope to have many of you down to relax and get away. Don't hesitate to email or call with any questions. Have a great day!
Sunday, May 11, 2008
Talk of Real Estate is Foreclosures...Who's Buying them and Why?
Who Is Most Likely to Buy Foreclosures
Interest in purchasing a foreclosed home is rising rapidly, according to a survey conducted in April by Harris Interactive for Trulia.com, a real estate Web site.
Here's what the survey revealed about buyers who tend to be interested in buying a foreclosure:
-About 60 percent of single/never-married adults are more likely to be at least somewhat interested in purchasing a foreclosure.
-About 50 percent of men are likely to be at least somewhat interested compared with 51 percent of women.
-Younger adults, ages 18 to 34, are the more likely than other age groups to consider buying a foreclosure with 69 percent expressing interest.
-Only 32 percent of adults 55 and older are interested in buying foreclosures.
Ok, this at first might be a little bit off! Especially in the Florida Condominium market! But let's think about this outloud..or at least written!
The first point is a little bit interesting. 60% never married or single...well they could have more time on their hands or looking for a good deal..many being younger and starting out so it's a great way to build wealth early on with the right help. More can be found online about foreclosures in Panama City Florida at http://www.investsmarter.com/florida-real-estate-information.html where we talk about Short Sales in Panama City Florida and Foreclosures in Panama City Florida.
The second point was a little interesting to me. It was equal..well almost 50/50 for male to female. It seems like the girls are stepping right up their with the process! Foreclosure do tend to be a little more work and need some maintenance, so that's wonderful that so many people are getting into the market...that being said it does make it more competitive!!
And the last two look at age. It's probably not surprising that age is a factor, but we at www.InvestSmarter.com don't think of it as age and ability as much as it is a price thing. If we look at the age group of over 55, many have either already settled into their retirement area or are just not looking for home ownership. If we look back at prices, I know my dad at least, feels that even the foreclosure prices are way to high...so that would be an automatic deal breaker for most!
If you are interested in Short Sales and Foreclosures in and around Panama City Florida, Panama City Beach, Florida, Callaway, Springfield, Lynn Haven, etc. please feel free to look at any of the sites below.
www.Panama-City-Beach-Florida-MLS.com
www.Panama-City-Beach-Florida-Condominiums.com
Interest in purchasing a foreclosed home is rising rapidly, according to a survey conducted in April by Harris Interactive for Trulia.com, a real estate Web site.
Here's what the survey revealed about buyers who tend to be interested in buying a foreclosure:
-About 60 percent of single/never-married adults are more likely to be at least somewhat interested in purchasing a foreclosure.
-About 50 percent of men are likely to be at least somewhat interested compared with 51 percent of women.
-Younger adults, ages 18 to 34, are the more likely than other age groups to consider buying a foreclosure with 69 percent expressing interest.
-Only 32 percent of adults 55 and older are interested in buying foreclosures.
Ok, this at first might be a little bit off! Especially in the Florida Condominium market! But let's think about this outloud..or at least written!
The first point is a little bit interesting. 60% never married or single...well they could have more time on their hands or looking for a good deal..many being younger and starting out so it's a great way to build wealth early on with the right help. More can be found online about foreclosures in Panama City Florida at http://www.investsmarter.com/florida-real-estate-information.html where we talk about Short Sales in Panama City Florida and Foreclosures in Panama City Florida.
The second point was a little interesting to me. It was equal..well almost 50/50 for male to female. It seems like the girls are stepping right up their with the process! Foreclosure do tend to be a little more work and need some maintenance, so that's wonderful that so many people are getting into the market...that being said it does make it more competitive!!
And the last two look at age. It's probably not surprising that age is a factor, but we at www.InvestSmarter.com don't think of it as age and ability as much as it is a price thing. If we look at the age group of over 55, many have either already settled into their retirement area or are just not looking for home ownership. If we look back at prices, I know my dad at least, feels that even the foreclosure prices are way to high...so that would be an automatic deal breaker for most!
If you are interested in Short Sales and Foreclosures in and around Panama City Florida, Panama City Beach, Florida, Callaway, Springfield, Lynn Haven, etc. please feel free to look at any of the sites below.
www.Panama-City-Beach-Florida-MLS.com
www.Panama-City-Beach-Florida-Condominiums.com
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