6 Questions (and answers) about the Extension of the First Time Homebuyer's Tax Credit

I am so excited that the tax buyer credit has not only extended but has expanded. Now move-up/repeat-home buyers can jump on board and reap the benefits of the program. I think most people are aware of the provisions and rules applied to the old bill but thought it would be fun to look at some of the new things available for those that are NOT first time home buyers. The Worker, Home ownership, and Business Assistance Act of 2009 has established a tax credit of up to $6,500 for qualified move-up/repeat-home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April 30, 2010).

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Emerald Coast Cruizin Photo and Video RECAP

This year’s Emerald Coast Cruizin Event was a huge success with thousands of hotrods, ratrods, classics and muscle cars that covered the festive grounds of Frank Brown Park in Panama City Beach. At the beginning of the week, there was a weather scare with Tropical Depression Ida rolling through, but the weather cleared up and produced a weekend that would be difficult to match any other time of year. The air was cool, skies blue and spirits great as the paint glowed as people ogled over the “tons of pretty stuff.”

Enough talk, lets see some pictures!

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Foreclosures and Short Sales are Major Restraints for Price Stability

The sale statistics from the 70 buildings in the http://www.condosaletrends.com database indicate some encouraging news for the Panama City Beach condo market. The number of sales from July through October is up 62% over the same period in 2008. That number does not include developer sales that were not listed in the MLS; however neither did the 2008 number. The prices are low enough to encourage buyers to sign contracts and the banks are more responsive to short sale offers.

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Miracle Strip at Pier Park

Tonight, the Panama City Beach City Council voted and approved a variance request in the zoning of a particular parcel that rests in Pier Park from T-3 to T-3A, which will allow some amusement rides according to the zoning and future land use plan of Panama City Beach.

Something’s been a brewin’ in Pier Park and a movement is afoot to bring a little life revival to the new “downtown” of Panama City Beach.

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Southwest Airlines Touts Panama City Addition

Proud of their latest destination portfolio addition, Southwest Airlines included Panama City as one of their top stories in their first edition In A Nutshell email newsletter. “Grab your beach ball, it’s on!” the first sentence says. Other announcements in the newsletter include a Bags Fly Free Video Contest and an introduction to their “Green Plane”.

Thought this was cool as there’s no telling how many people saw this. My dad sent it to me, and he’s in Dallas, TX.

Emerald Coast Cruizin's Expectin 4,000 Cars, Perfect Weather PICTURES

After a lousy three days, this morning awoke with a perfectly deep blue sky speckled with cute, fluffy white clouds and the sound of chunky V-8’s rumbling down Back Beach Road on their way to register for this weekends Emerald Coast Cruizin Classic Car Show. Held in Frank Brown Park in Panama City Beach, this is the fifth year that Emerald Coast Cruizin has come to our beach, and myself as well has thousands from all over the Southeast United States are glad to have perfect weather on the forecast for the rest of the weekend.

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Episode #30 – Live on the CHEAP in Palmetto Trace

This week’s features:

Deal 1 – Perfect Home in Palmetto Trace only $219k
Deal 2 –Home steps from Beach only $210k
Deal 3 – Steal in Wild Heron only $128/sqft

The Beach Show is your ONLY internet TV show all about Real Estate on Panama City Beach.

Remember, it doesn’t cost anything to work with us if you are a buyer.

Click the “more” tag for show notes.

Call us at 850-527-5651 to see these properties or for anything else you need regarding real estate in Panama City Beach.

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New Name for New Airport, again.

Tuesday the Airport Authority met and again discussed the new name for the new airport that is currently under construction in North Bay County. The Board met a few weeks back and decided upon the name Northwest Florida Panama City International Airport, much to the dismay of local tourism industry leaders and government officials. The justification of the previously picked new name by the board consisted of wanting to give Panama City credit for nurturing the new airport project along and ensure travelers to our area knew and understood that they were coming to Panama City.

But, I think that being sure that people know they are coming to Panama City is contradictory to the mission as a whole here.

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First Time Homebuyer's Tax Credit EXTENDED

Last Friday, President Obama signed a bi-partisan extension to the first-time home buyer tax credit program last week giving prospective buyers through June 30th, 2010 to close on a home and receive the $8,000 credit. In addition, the law contained an expansion of the former program to include homeowners who have occupied their current residence for five years who want to trade up to another home. These repeat buyers can now receive a credit up to $6,500. The income limits on the program for buyers to receive the full amount of the credit were also raised to $125,000 annually for an individual and $225,000 for a couple.
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20 FREE Tickets to Emerald Coast Cruizin Classic Car Show

This weekend’s HUGE event is the Emerald Coast Cruizin Classic Car Show that will have the festive grounds at Frank Brown Park filled to the brim with sweet shiny show cars ranging from rat-rods to glossy polished hot-rod school buses. Last year’s event had cars stretching from one end to another in an endless sea of machismo. This year’s event promised to be even more promising with thousands of cars in attendance.

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