Panama City Real Estate Blog

Yesterday, the U.S. House of Representatives passed the Rural Housing Preservation and Stabilization Act of 2010 (H.R. 5017).

Through this legislation, the guarantee fee in the USDA Guaranteed Rural Housing (GRH) Program may be raised to offset any need for Congressional appropriations.

Additionally, H.R. 5017 would authorize USDA Rural Development to guarantee up to $30 billion in loans in Fiscal Year 2010. 

This would represent an additional $18 billion in loan making authority for the remainder of this fiscal year.

Before these changes can be implemented, similar legislative action will need to occur in the U.S. Senate.

Following this action in the House, the USDA Rural Development National Office sent an announcement that stated: Depending upon

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Just released - Fannie Mae foreclosure incentives...

Source: The Wall Street Journal, Nick Timiraos (04/26/2010) 

Beginning in July, Fannie Mae will allow financially troubled home owners to complete a “deed in lieu of foreclosure” or a short sale and be eligible to apply for a new Fannie-backed mortgage in two years.

Currently, borrowers who have completed a deed-in-lieu must wait four years to apply for a loan that Fannie will purchase. Home buyers who go through foreclosure must wait five years.

All these waiting periods can be reduced further, if the potential buyer can show extenuating circumstances. "We are beginning to think about post-recession, how you address borrowers who became unemployed through no fault of their own ... and now

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The new Panama City airport, now named Northwest Florida Beaches International Airport is making it easier for investors and re-locating families to not only vacation to Panama City Beach, but also to invest and help grow the community.

Already, we are seeing an increase in not only relocating professionals, but also many of our clients are interested in opening their own business or relocating their business from other states across the U.S.

Commercial leasing and businesses for sale will play a much more dominant role in the growth of the Panama City Florida area.

In keeping with this up and coming market and of course to stay ahead of my competition, I've created a new Panama City businesses for sale page.

Don't be left out, contact me today

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From Realtor.org...

Nearly half the homes sold in March – 48.2 percent – were purchased by first-time buyers, according to a survey of more than 1,500 real estate practitioners by Campbell/Inside Mortgage Finance.

"Many observers had felt that the pool of first time home buyers had been depleted last fall," Thomas Popik, research director for Campbell Surveys, said in a statement. "Instead, the normal spring-summer buying season is combining with the tax credit to produce blow-out results for first-time home buyers."

Panama City Commercial Real Estate Market Is Looking Up


Despite the rising number of defaults, the commercial real estate market is improving.

Prices are up. Commercial real estate values have risen 6 percent in recent months, according to

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The latest mortgage market update for the Panama City, Florida area has been posted for your convenience.

Here is a short summary:

Last week’s economic data continued to be mostly positive, but mortgage rates slid downwards. This
manufacturing-lead recovery continues to maintain its pace, with Industrial Production numbers
revealing solid gains for manufacturing and mining issues. While the housing and labor market will
likely be a major drag on the recovery for some time, retail sales did tick upward more than expected.
As economically positive as most of last week’s news was, inflation at the consumer level of the
economy is all but absent. This should enable the Fed to maintain its stance regarding low interest
rates for the foreseeable

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Here's some valuable information for Florida first time home buyers and programs that are currently available...

Florida Housing’s First Time Homebuyer Program offers low fixed-rate 30-year first mortgage programs for first time homebuyers (some exceptions exist) with qualified income and purchase price limits for the county where they are purchasing a home.

There also are down payment assistance programs that can be used with the first mortgage products.

FIRST TIME HOMEBUYER PROGRAMS offered by Florida Housing are as follows:

  • Florida First: This program offers a low 30-year fixed-rate first mortgage to all borrowers who meet program guidelines and qualify for a loan. Borrowers who qualify for this first mortgage product are automatically
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By now many of you might heard or read as it's all over the news and the internet - Southwest Airlines has announcedit will be the first major airline to provide service to the new airport.

According to Chief Executive Gary Kelly - "Southwest plans eight daily departures for Panama City and will unveil its schedule in December".

With the assistance of the St. Joe Co., this deal will help bolster and invigorate our local economy through increased direct tourism traffic, easier, more convenient access to our local businesses and also aid relocating families and business by providing convenient flight access to the Panama Cit, Florida area.

The story on Reuters is here.

Remember, this is just the first carrier to announce service to the new

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view-of-balcony-from-pool This 3 Bedroom/3 bath Mediterranean style luxury home is located in the gated community of La Valencia in Panama City Beach, Florida.

This home is being sold as is and partially furnished and has been well maintained. Features of this home include:

  • Crown molding
  • Wood and tiled flooring
  • Great room with high ceilings and an open floor plan
  • Breakfast bar
  • Dining area

This neighborhood is a short distance from shopping, restaurants and other family entertainment venues.

Contact me directly (850) 774-6582 for a private showing on this or other 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

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At Panama City Real Estate, we value all our customers and visitors and endeavor to make each visit a welcoming and enjoyable experience.

In our continuing efforts to provide the finest, most complete real estate services and website available we realize we realize there may be additional website instructions needed for many of our first time and returning visitors.

For example: Earthlink visitors and customers who sign up for our various "opt in" services may not be receiving the requested information due to how the Earthlink Mail system prohibits so called "unsolicited" emails from reaching their customers.

Actually, this is a good thing and we applaud Earthlink for protetcting their customers privacy.

I've created a new Earthlink

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My team and I have created another new and exciting feature for our customers: The Best Real Estate Deals in Panama City.

In just a few short days, this new feature has become quite popular with our buying, investing as well as our selling customers.

Signing up for the new feature is of course easy and free.  Simply become a registered customer on the  Panama City Real Estate registration page

We'll do the rest.

Who can benefit from this new feature?

Sellers benefit from this feature by obtaining important information regarding properties similar to theirs.  Knowing the listed price of other properties will aid sellers in pricing their properties competively.

Buyers and investors benefit by being the among the first to be notified of

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