Market Trend

Panama City, Florida, November 21, 2007
Panama City Real Estate Market continues to show positive trend

Florida Association of REALTORS® (FAR) today releases quarterly sales data for existing condo and homes, and Panama City stays upbeat.

Statewide, sales of existing condos declined 26 percent (9,622 units closed for Q3 2007 compared to 13,028 for the same quarter last year). In contrast Panama City shows a net increase of 38 percent (127 existing condo units closed in Q3 2007 compared to 92 closings in Q3 2006) for the best showing in the entire state. Panama City is followed by Fort Walton Beach with a 26 percent increase and Sarasota with a 15 percent increase.

In sales of existing single-family homes, Q3 2007 shows a statewide decline of 29 percent (31,910 units closed in Q3 2007 compared to 44,776 in Q3 2006) while Panama City once again shows a more positive trend with a new decrease of only 8 percent (369 units closed in Q3 2007 versus 401 units closed in Q3 2006). This places Panama City in third best position statewide only to Sarasota with a 5 percent decrease and Marco Island with a 7 percent decrease.

Existing single-family home and condominium, process continue to see a market correction, with sellers becoming more realistic and buyers recognizing the potential for long-term sustainable growth in Panama City and Northwest Florida.

What does this mean to Panama City? National Association of REALTORS® Senior Economist Lawrence Yun says "Buyers in most areas who do their homework will recognize that housing remains a good long-term investment."

Bay County Association of REALTORS® President Scott Bowman in Panama City points to public awareness and educational campaigns executed in Panama City, Sarasota and Marco Island as partially responsible for the positive sales data in these respective areas.

CNN and other news sources observe that Panama City will possibly see as much as a seventy two percent increase in home prices, as large as a twelve percent growth in population and as much as a thirty percent rise in per capita income over the next five years.

Thanksgiving Day!

I'm trying to take the day off to get Christmas stuff out of the attic and relax. I'm finding myself cleaning and working on the computer instead. So, after this I'm done for the day. I just wanted to take a moment and be thankful for everything in my life. There is a lot to be thankful for in my personal life: friends, family, great career and most of all my daughter and husband. Without them, I would be lost. However, this is my "Real Estate Talk" blog so I'm thinking of what I am thankful for in the real estate world. Let's see.......rates are still low.............we're going to have the chance in Jan. to vote on a property tax amendment................property values have become alot more affordable for home buyers..................most sellers that have had their property for a few years are still making a huge return on their money when they sell....................insurance rates seem to be finally stabilizing.........................the airport has broken ground...................we live in the world's most beautiful beaches................we've made it through hurricane season...............and the no.1 thing I would have to be thankful for in the real estate world would be.................my daughter and husband. Yep, same thing. One value that my company lives by is God, Family, Business. If the first two are in order, the business will come. I truly believe that. Now that I am getting back into sales I'm remembering that as long as you do the right things to build your business, keep your spiritual life and family life in order, the business will come. I feel blessed! Happy Thanksgiving everyone.

Change is Good!

Every now and then we need to change our environment in order to improve ourselves. It's good to get out of your comfort level in order to grow in your career. Starting next week, I will be officially closing the Coldwell Banker office in Freeport and coming back to do business in Bay County. I am so excited about this move. I have joined Keller Williams Success Realty and will be starting a real estate team with some of my old colleagues. We have over 60 agents right now and plan to have over 100 by Feb. '08. The office is filled with motivated professionals that take their business very seriously. Being in this upbeat environment is going to be great not only for me but, for my customers as well. It's time for me to turn up the heat a little and stir the pot! Look out everybody, I'm ready to sell!