Federal Employees Need to Ask

Just read an article put out from the National Association of Realtors.  Federal Workers need to be contacting their lenders and landlords for forgiveness and ask for no late fees.

Mortgage, Rental Aid Arrives for Unpaid Federal Workers

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Mortgage, Rental Aid Arrives for Unpaid Federal Workers

Mortgage Holders who have been affected by the partial government shutdown need to click the link below and read.  Ask for forgiveness from your lender and landlord.

Source: Mortgage, Rental Aid Arrives for Unpaid Federal Workers



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Okaloosa October Sales Report


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Walton County October Sales Report


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How old is your Home?

Well a recent U. S. Census Bureau’s American Community Survey reveals that the median age of an owner occupied home is now 37 years old.  This means that half of all homes in the U.S. were built prior to 1980.  Why is this happening?  A decline in residential construction in the past decade.

Another 13.5% of the country’s total housing units were built prior to 1940, while 19% were built before 1950.

Homes built between 2010 to 2016 make up 4% of the inventory.  About 70% of homes built after 2010 are owned by Generation X (age 35-54).

So it brings me back to how old is your home?  

Currently there are 2,487 homes for sale in my own market.  Of those, 943 of them were built after 2010 (37.9%) and 1,230 were built from 1980 to 2010 (49.5%).  The remainder were built prior to 1980 with the oldest home for sale built in 1882.

house surrounded with trees on grayscale photography

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Pier Park, Pier Park North and West Pier Park

Pier Park, located in the heart of the world’s most beautiful beaches has over 120 stores! Get a detailed map of shops, restaurants and other locations.

Source: Pier Park, Pier Park North and West Pier Park

Pier Park is certainly OPEN for Business.  Christmas shopping is brisk.


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Let’s talk Real Estate and Economy

The Fed announced today that they will slow down the rise of interest rates for the time being and not raise them as fast as they originally planned for 2019.  However we are not out of the woods yet.  Unemployment is lower today, but factor in the announcement of GM’s factory closings and we may have a new problem lurking ahead.  Payroll is not keeping pace and the gap between workers payroll and the ability to pay for housing have become a huge problem.

Although banks are no longer allowing loans on good faith and you must have documentation to qualify for a home loan what is happening is that those that have loans are refinancing more than ever and they are not using the money on their homes.  They are taking vacations, buying luxury items, and paying for medical bills.

Student debt from school loans are at an all time high with no sign of any way out for the younger generation to buy a home until much later in life.  They are still living at home or renting.  Car debt loans are also at an all time high.  Keep an eye on the stock market and economy, but I do see some red flags to be aware of as we prepare to go through 2019.

stock exchange board

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How to Prepare for a Home Inspection

Click on the link to bring up an article on how to prepare your home for a home inspection.

How to Prepare for a Home Inspection32JoanCircle_20170314_038

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Investor Opportunities Await You

Do you like to buy real estate as an investment?  I cannot think of a better time to buy than now in Panama City Beach, FL.  The aftermath of Hurricane Michael have left thousands homeless.  Most are looking for places to live while they rebuild their homes.  I am talking about long term investment properties.  All of the rental properties are already rented and FEMA have sent people as far away as Alabama and Georgia to live while they are rebuilding their homes.  These folks want something closer to home during their rebuilding months to keep an eye on things.

So it is an excellent time to buy a long term investment to hold for two years and then later sell.  I am talking about the $150,000 to $250,000 price range.  If you are looking for a place to put your money, please reach out to me for a list of recommended investment properties.


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Prediction in local real estate

After Hurricane Michael, I am evaluating the local real estate market as well as the global market.  Locally, many properties that were for sale are no longer standing.  It will take a long time to rebuild the Panama City Beach market and increase the inventory.  With inventory being so low, those few properties that are still standing and are available will have higher demand.  However, with our market being a “resort market”, how many vacationers will be wanting to come to this area for vacation compared to less affected and just as beautiful areas along the Gulf Coast?

Nationally, the Federal Reserve continues to raise interest rates.  New home sales have fallen 22% across the country.  Here locally, it will take years to see new inventory as the permitting requirements will be at least a 4-6 month process just to begin the rebuilding process and abide by the newer hurricane building codes.  New residential investments have fallen for the last 3 years.

The market to the west of Panama City Beach is were to invest right now.  Now only was it unaffected by Hurricane Michael, but there are some really beautiful properties available.  With more and more looking for rentals as temporary housing during the rebuilding process, the rental market and rental rates will be in a strong demand.

Check out areas like Miramar Beach, Destin, Okaloosa Island and Navarre Beach as alternative investment areas.  I work all of these areas and will be happy to assist you with your next investment.  I will look out for your investment dollars.  I am here to help.


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