An interesting thing about a prolonged down market, after three years everybody gets bored. Real estate agents have quit trying to convince the public that the bottom has been reached because every month they were proved wrong. Appraisers have been beaten up so bad for relaying the bad news; you can’t get one to admit he is an appraiser in public. Sellers have thrown in the towel. Buyers loiter about like hungry vultures. Welcome to the 2010 Panama City Beach condo market. For those who are still awake, the following is our summary of the local condo market as of the end of 2009. Unfortunately, it looks exactly like the end of 2008.
Continue reading “2009 Year End Real Estate Market Summary and Analysis”
Mortgage rates remain at near eight month lows as strong demand in the bond market drove the yield on the ten year Treasury note below 3.20% before rising slightly to 3.25% today on a renewed rally in stocks. The rate on the benchmark thirty-year is hovering right at 5% with no points and the fifteen-year stands at 4.375. Thirty-year rates actually were pushing 6% back in the spring so this is quite an improvement and rather unexpected. The general consensus has been that as the economy pulls out of recession and as signs of economic growth become more evident, rates would rise as inflationary pressures mounted, but this has not materialized.
You know how you receive those lovely thick pieces of hard to open Junk mail that say in bold big letter, “TIME SENSITIVE ” well this is your online version of that but it really is TIME SENSITIVE, so in an attempt to wrap this topic, up here we go.
PCBDaily 