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

Photo by Pixabay on Pexels.com

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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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Bay County Statistics — August 2018

Economists’ note: Closed Sales are one of the simplest—yet most important—indicators for the residential real estate market.

There were 424 sales in August of 2018.  This was a 7.1% increase from the following year.  It will be interesting to see what happens post Hurricane Michael.  Many homes that were for sale are no longer even standing.  Today there are 1,920 properties for sale in Bay County.

108 of the 424 sales were cash sales.  That represents a decrease of cash buyers over the past year.  This number is down 11.1%.

The Median Sales price in Bay County (Panama City Beach and Panama City) was $212,250 overall.  The Average price was $252,987.

It will be interesting to note what the October sales report will look like post Hurricane Michael.  I will let you know by December, because it takes a while for the statistical reports to come out.

My feeling is that we will see a sharp downturn of sales due to properties no longer being available for sale and the fear of future buyers of future hurricanes.  We are all still trying to get back to some type of normal and this may take years.

Total deaths due to Hurricane Michael now stands at 45.  We are Panhandle Strong!  If you are looking to buy, make sure you are buying a property built in 2005 or newer.  Most all of these survived due to the building codes being strengthened since then.

There are some beautiful condos Gulf Front that are still very attractive.  One of the best complexes with the least amount of damage was the Grand Panama Beach Resort.  I would be happy to take you there and show you around.  Just call me for an appointment at 850-420-2480 or email me at KellyKleinSoldMine@Gmail.com

Thank you!  Kelly


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Day 10 Post Hurricane Michael Pets

As most are still trying to put their lives together, the animal shelters are overwhelmed with displaced pets.  They range from dogs, cats, and over 100 goats from Callaway, FL.  They are looking for donations to care for all of these animals.  It costs a lot of money to provide them food on a daily basis.  The animals are scared and you can see it in their eyes.  There have been over 200 cats and dogs abandoned by their owners.  They may never meet again.  Others have been sent to other shelters as far away as Orlando and have found new forever homes.

Sad stories of one man who had no way to care for his 19 year old Yorkie who was overheated in the back of his car was left in the care of Alaqua Animal Refuge.  The shelter is in need of medical supplies and dog cages too.  They need housing, love, and care to survive the next steps of their ordeal by no choice of their own.

Another couple who had lost everything brought their sick dog to Alaqua for shelter and care but their pet had to be euthanized.  It was devastating to lose everything including their beloved family pet.

The shelter needs food, donations, and volunteers.  If you can help, please do so at this website.  https://www.alaqua.org  IMG_2191 (2)




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Post Hurricane Michael

You may be asking what is going on Post Hurricane Michael?  Well, real estate is crawling to a halt in the Panama City Beach market.  There are homeless people in tents, campers, all in need of rentals.  Most of the business is shifting to the West in areas like Santa Rosa Beach, Miramar Beach, and Destin.  Many are still without power, no internet and only sketchy cell phone services.  The newer buildings are doing the best.  In 2005, Florida building codes were strengthened with tougher standards on how to attach a roof to a home, hurricane strength rated hurricane windows and doors and higher lips for sliding glass doors.  With this came some stronger and better built buildings.  So when thinking of buying a home, a townhome, or condo, you will want to keep these items in mind.  Look for purchases built after 2005 or newer.  One home in Mexico Beach is still standing because that owner demanded on even higher than the basic standard codes.  His home had poured concrete walls and windows rated up to 220 mph force winds and a higher elevated ground floor to avoid flooding.  The higher costs paid off and that home is still standing.  However, it will be a long time for his community to rebound.  No power, no internet, and no supporting businesses makes for a lonely way to live.  Most humans are kind and try to help and assist others in need.  Then you have people that are mean no matter what and try to take advantage of others in times of need.  That is why a curfew, the national guard, and extra police come in to protect what belongings are still there.  I believe most people are good and we will bounce back.  If you are still in the market for a home or a condo along the Gulf Coast, there are some very desirable ones still available to the west of of Panama City Beach, FL.  If I can help, please do not hesitate to contact me at 850-420-2480 or do a proactive search at http://www.KellyKleinSoldMine.com

Warmly yours,



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How to Use your Cash Wisely for Exterior Projects

Often times I get questions on what a seller can do to help with the sale of the home.  A lot of times this comes down to exterior improvements.  Here are some cash investments that you may want to consider when you are selling your home.

Landscape Maintenance is Number 1.  You will get 100% recovered on exterior landscape maintenance.  If you cannot get a buyer in the door, then you may have lost that buyer.  It is important to have an attractive entrance bringing the buyer into the home.

Tree Care is Number 2.  You will get a 100% return on money spent in this area.  It is important to have your trees healthy and trimmed.  Make sure trees are not touching the house and make sure that your palm trees are trimmed back.

Irrigation System is Number 3.  You have to have water to keep your plants in your yard healthy, especially here in Florida.  You will recover 86% of your expenses.

Overall Landscape Upgrades is Number 4.  You will get approximately 83% recovered costs in this category.  This would cover additional landscaping additions to your yard.

New Wood Deck is Number 5.  You will only recover 80% of your expenses in the area of a new wood deck.

Outdoor Kitchen is Number 6.  Outdoor Kitchens are very popular.  Gatherings in Florida are often times around the outdoor kitchen area.  They will bring you a 71% return on your money.

New Patio is Number 7.  You will only recover 69% of your costs in the area of a new patio.

Landscaping Lighting is Number 8.  Look for only a 69% recovery in costs in this area.  Lighting today is expensive.

Fire Pit or Fire Feature is Number 9.  Who doesn’t love to sit around a fire.  However, you will only recover 67% of your expenses.

New Pool is Number 10.  Don’t expect a lot of return on your new pool.  You will spend approximately $57,000 and only recover around $25,000 on any appraisal.  The recovery is only about 43%.

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Like to Golf, so do I !

I have been a member of the Santa Rosa Golf and Beach Club for sometime now.  I really enjoy being a member.  The golf course is challenging.  I usually do better on the back nine than the front nine.  If you like to golf, you should check it out.  You can book a tee time at Santa Rosa Golf Club and learn more about the club and membership.  Tournaments are a fun way to meet new people and join for a cause.

One such really fun event every year is the For Her Tournament.  I particularly like the ball drop when the helicopter above drops balls on the driving range to see which ball comes closest or goes in the hole.

Hope you can join us at the club soon and take part in a lot of fun activities and discounts.


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