According to AOL Money and Finance, Panama City Beach is The Number 1 Place to Own a Summer Home.

In an article that came out Thursday May 29, 2008 Kelli B. Grant with SmartMoney.com wrote that amid the credit crunch “someone else’s misfortune could work in your favor.”  Home prices are down and according to the short article, if you are in for the long-term and plan to use your second home, now is a great time to buy.

Quoting the article for Panama City Beach:

There’s something for everyone in this Panhandle town where white “sugar sand” beaches along the Gulf of Mexico give way to inland attractions, including six championship golf courses and an active restaurant and nightlife scene. Prices for beachfront property run the gamut from $100,000 for a one-bedroom condo, to $2 million-plus for single-family homes of five bedrooms or more, according to vacation rental site HomeAway.com.

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