WOW! I AM SO EXCITED TO SHARE THIS LONG AWAITED YET EXPECTED NEWS ABOUT OUR BEAUTIFUL AREA! No, it's not about BP, nor the grand celebration of our very own Panama City Beach International Airport, but it's the expected optomistic and exciting news release regarding our HOME VALUES!
If you did not catch the article last week regarding America's Strongest Housing Markets in 2014, here's a recap with some local stats.
Biggest home price increase projected in 2014:
Coming in #6 in the United States:
PANAMA CITY-LYNN HAVEN-PANAMA CITY BEACH METRO AREA.
Forecast 4-year price increase: 26.9 percent
Current median price: $158,669*
Prices to reach trough in: 2010 Q3
Median family income: $53,800
Population: 164,770
Home prices in the Panama City area fell about 27 percent after hitting a peak between 2005 and 2006, according to the FHFA home price index. Agents have shared the feeling that our local market was stabilizing earlier this year, but the BP oil spill led some buyers to cancel their contracts and rethink about buying in the area. Despite the area’s large number of foreclosures (1.93 percent in the first half, according to RealtyTrac), agents believes the new Beaches' International Airport which opened in May would help stimulate our local economy. The area's unemployment rate reached 12.1 percent in January and dropped to 9.3 percent in June, according to BLS data.
After many buyers who were sitting on the fence realized that our beaches were not closing due to the BP situation and that the area was still a great market to invest in, plus with interest rates at the lowest rates we have seen in perhaps the last 10 years, buyers decided to hit the streets again for some great deals.
I personally have had a better first year in 2010 than in 2009 so I am even more excited to see how we finish the year in 2010. I know sunny days are ahead!
So, buyers, call me now so I can find you the best deals on the beach! Sellers, if you have wanted to move up and could not afford to before, now you can buy that new home at an incredible value before that "move up" home value is no longer within reach!
Have a terrific end of sunmmer, watch out for our returning students beginning Wednesday when school opens, and remember, there is LIGHT AT THE END OF THE TUNNEL!
Your Friend and Professional Realtor, Karen
Karen Branham, CRS*
Broker Associate, SFR, SRES, e-Pro
"Exceptional Service"
Coldwell Banker United, Realtors
850-832-8626
http://www.KarenBranham.com
*CRS - Designation Earned by ONLY 4% of Realtors Nationally
Tuesday, August 10, 2010
Monday, June 28, 2010
WHAT'S NEW IN PANAMA CITY?
So, now we know what that crazy upside building is on Front Beach Road! It's "WonderWorks"! What??? Yes, now friends and family from out of town, and even us locals, can enjoy this long awaited new attraction. "WonderWorks", the largest indoor attraction in Panama City Beach, is located right across the street from "Ripley’s Believe It or Not" Museum, talk about convenient. It is a four-story, 39,000-square-foot attraction filled with entertainment, including 100 interactive hands-on exhibits, small rides, video games, a gift shop and more. I think we'll take the family and check it out this summer.
Next, although it's been open for a few weeks now, if you have not visited our new International Airport, take a drive out there to see what the excitement is all about. My youngest daughter Erin flew into the new airport last week and parking and picking up travelers was very quick and easy.
Also, what's new on the beach? Nothing, we still have our gorgeous beaches, sun worshipers, and of course swimmers! My husband went out diving this past weekend and brought home lots of delicious fish, too.
Finally, don't forget our Summer Concerts have started at Pier Park, every Thursday between 7 - 9 pm, bring that cool drink and your lawn chair, maybe even bring along your local real estate magazines to check out the great deals still available in Panama City!
When you are ready to buy or sell, just let me know!
Have an AWESOME week and a safe July 4th holiday weekend!
Your friend and REALTOR for life, Karen
Karen Branham
Certified Residential Specialist (designation held by only 4% of Realtors Nationally)
"Exceptional Service"
Coldwell Banker United, Realtors
Email: karen.branham@cbunited.com
Website and blog: http://www.karenbranham.com
Direct: (850) 832-8626
Next, although it's been open for a few weeks now, if you have not visited our new International Airport, take a drive out there to see what the excitement is all about. My youngest daughter Erin flew into the new airport last week and parking and picking up travelers was very quick and easy.
Also, what's new on the beach? Nothing, we still have our gorgeous beaches, sun worshipers, and of course swimmers! My husband went out diving this past weekend and brought home lots of delicious fish, too.
Finally, don't forget our Summer Concerts have started at Pier Park, every Thursday between 7 - 9 pm, bring that cool drink and your lawn chair, maybe even bring along your local real estate magazines to check out the great deals still available in Panama City!
When you are ready to buy or sell, just let me know!
Have an AWESOME week and a safe July 4th holiday weekend!
Your friend and REALTOR for life, Karen
Karen Branham
Certified Residential Specialist (designation held by only 4% of Realtors Nationally)
"Exceptional Service"
Coldwell Banker United, Realtors
Email: karen.branham@cbunited.com
Website and blog: http://www.karenbranham.com
Direct: (850) 832-8626
Monday, May 24, 2010
Florida's Home and Condo Sales Rise in March 2010
I am thrilled to post this optimistic news which came out with the latest housing data for the state of Florida.
Florida’s existing home, condo sales rise in March 2010. Existing home sales rise on buyer tax credit, favorable market conditions.
ORLANDO, Fla. – April 22, 2010 – Florida’s existing home sales rose in March, which means that sales activity has increased in the year-to-year comparison for 19 months, according to the latest housing data released by Florida Realtors®.
Existing home sales increased 24 percent last month with a total of 16,294 homes sold statewide compared to 13,090 homes sold in March 2009, according to Florida Realtors. Statewide existing home sales last month increased 37 percent over statewide sales activity in February. Also noteworthy: While March’s statewide existing-home median price of $137,000 was down from the same time a year ago, it was 4.3 percent higher than February’s statewide existing-home median price.
Florida Realtors also reported a 63 percent increase in statewide sales of existing condos in March compared to the previous year’s sales figure; statewide existing condo sales last month rose 40.6 percent over the total units sold in February. Though March’s statewide existing-condo median price of $96,900 was down compared to the year-ago figure, it was 5.1 percent higher than February’s statewide existing-condo median price.
Seventeen of Florida’s metropolitan statistical areas (MSAs) reported increased existing home sales in March while all MSAs had higher condo sales. A majority of the state’s MSAs have reported increased sales for 21 consecutive months.
Florida’s median sales price for existing homes last month was $137,000; a year ago, it was $141,300 for a 3 percent decrease. Industry analysts with the National Association of Realtors® (NAR) note that sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes. The median is the midpoint; half the homes sold for more, half for less.
The national median sales price for existing single-family homes in February 2010 was $164,300, down 2.1 percent from a year earlier, according to NAR. In California, the statewide median resales price was $279,840 in February; in Massachusetts, it was $271,950; in Maryland, it was $237,446; and in New York, it was $225,000.
NAR’s latest outlook anticipates a rise in home sales in late spring, which should help to absorb inventory. Increased pending sales is a positive sign for home prices, which are continuing to stabilize, according to NAR Chief Economist Lawrence Yun.
In Florida’s year-to-year comparison for condos, 7,148 units sold statewide last month compared to 4,387 units in March 2009 for an increase of 63 percent. The statewide existing condo median sales price last month was $96,900; in March 2009 it was $108,500 for an 11 percent decrease. The national median existing condo price was $170,200 in February, according to NAR.
Interest rates for a 30-year fixed-rate mortgage averaged 4.97 percent last month, down from the average rate of 5 percent in March 2009, according to Freddie Mac. Florida Realtors’ sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.
Among the state’s larger markets, the Sarasota-Bradenton MSA reported a total of 1,055 homes sold in March compared to 765 homes a year earlier for a 38 percent increase. The market’s existing home median sales price last month was $163,800; a year earlier it was $150,000 for an increase of 9 percent. A total of 382 condos sold in the MSA in March compared to 226 units sold the same month a year earlier for an increase of 69 percent. The existing condo median price last month was $146,400; a year earlier, it was $129,000 for a gain of 13 percent.
So, let's keep the momentum going! We still have AWESOME mortgage rates, heavy inventory and some great deals out there! Let me know when you are ready to buy!
Have an awesome, safe, patriotic Memorial Day!
Karen Branham, CRS*
"Exceptional Service"
Coldwell Banker United, Realtors
Call me at 850-832-8626
Website and Blog: http://www.KarenBranham.com
CRS - Certified Residential Specialist - a designation held by only 4% of Realtors Nationally
Florida’s existing home, condo sales rise in March 2010. Existing home sales rise on buyer tax credit, favorable market conditions.
ORLANDO, Fla. – April 22, 2010 – Florida’s existing home sales rose in March, which means that sales activity has increased in the year-to-year comparison for 19 months, according to the latest housing data released by Florida Realtors®.
Existing home sales increased 24 percent last month with a total of 16,294 homes sold statewide compared to 13,090 homes sold in March 2009, according to Florida Realtors. Statewide existing home sales last month increased 37 percent over statewide sales activity in February. Also noteworthy: While March’s statewide existing-home median price of $137,000 was down from the same time a year ago, it was 4.3 percent higher than February’s statewide existing-home median price.
Florida Realtors also reported a 63 percent increase in statewide sales of existing condos in March compared to the previous year’s sales figure; statewide existing condo sales last month rose 40.6 percent over the total units sold in February. Though March’s statewide existing-condo median price of $96,900 was down compared to the year-ago figure, it was 5.1 percent higher than February’s statewide existing-condo median price.
Seventeen of Florida’s metropolitan statistical areas (MSAs) reported increased existing home sales in March while all MSAs had higher condo sales. A majority of the state’s MSAs have reported increased sales for 21 consecutive months.
Florida’s median sales price for existing homes last month was $137,000; a year ago, it was $141,300 for a 3 percent decrease. Industry analysts with the National Association of Realtors® (NAR) note that sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes. The median is the midpoint; half the homes sold for more, half for less.
The national median sales price for existing single-family homes in February 2010 was $164,300, down 2.1 percent from a year earlier, according to NAR. In California, the statewide median resales price was $279,840 in February; in Massachusetts, it was $271,950; in Maryland, it was $237,446; and in New York, it was $225,000.
NAR’s latest outlook anticipates a rise in home sales in late spring, which should help to absorb inventory. Increased pending sales is a positive sign for home prices, which are continuing to stabilize, according to NAR Chief Economist Lawrence Yun.
In Florida’s year-to-year comparison for condos, 7,148 units sold statewide last month compared to 4,387 units in March 2009 for an increase of 63 percent. The statewide existing condo median sales price last month was $96,900; in March 2009 it was $108,500 for an 11 percent decrease. The national median existing condo price was $170,200 in February, according to NAR.
Interest rates for a 30-year fixed-rate mortgage averaged 4.97 percent last month, down from the average rate of 5 percent in March 2009, according to Freddie Mac. Florida Realtors’ sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.
Among the state’s larger markets, the Sarasota-Bradenton MSA reported a total of 1,055 homes sold in March compared to 765 homes a year earlier for a 38 percent increase. The market’s existing home median sales price last month was $163,800; a year earlier it was $150,000 for an increase of 9 percent. A total of 382 condos sold in the MSA in March compared to 226 units sold the same month a year earlier for an increase of 69 percent. The existing condo median price last month was $146,400; a year earlier, it was $129,000 for a gain of 13 percent.
So, let's keep the momentum going! We still have AWESOME mortgage rates, heavy inventory and some great deals out there! Let me know when you are ready to buy!
Have an awesome, safe, patriotic Memorial Day!
Karen Branham, CRS*
"Exceptional Service"
Coldwell Banker United, Realtors
Call me at 850-832-8626
Website and Blog: http://www.KarenBranham.com
CRS - Certified Residential Specialist - a designation held by only 4% of Realtors Nationally
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