Episode #17 – 3 BR Condo on the Gulf $229k

This week’s features:

Deal 1 – 3 Bedroom Condo on the Gulf for only $229,000
Deal 2 – Townhome on Thomas Drive for $169,900
Deal 3 – Wild Heron Bungalow BACK ON THE MARKET only $302,500!

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 and pictures.

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

Show Notes

Deal 1 – 3 Bedroom Condo on the Gulf for only $229,000

List Price: $229,900
Square Feet: 1,560
Price/SqFt: $146.79
3 Bedrooms, 2 Bath
Built in 1984
Regency Towers is among my favorites. Having recently gone through a total overhaul under new management, this timeless classic is beautiful and the host to some really great real estate deals. This particular condo is on the west side with an enormous unobstructed new of the Gulf and is in great shape. Altough it is bank owned, it didn’t look like it needed anything except new furniture and floors. This is a steal and a must see!

Deal 2 – Townhome on Thomas Drive for $169,900

List Price: $169,900
Square Feet: 1,565
Price/SqFt: $108.56
2 Bedrooms, 2.5 Bath
Built in 2005
This awesome townhome has never been lived in and is located right on Thomas Drive (set back quite a bit) amonth several others just like it. There is a community pool. Providing peeks of the Gulf of Mexico, this town home is only steps from the beach and spacious enough to live in or use as a rental. This price is a steal with new everything!

Deal 3 – Wild Heron Bungalow BACK ON THE MARKET only $302,500!

List Price: $302,500
Square Feet: 2,180
Price/SqFt: 138.76
3 Bedrooms, 2.5 Bath
Built in 2006
This listing was hot on the market a few weeks back and was snatched up quick. But, it’s back on the market and ripe for the picking. This is a bank-approved short sale and ready to close. If you are looking for a high quality of life in a luxury community with TONS of amenities including free kayak rentals, fitness center, pools and tons of beautiful scenery, this is the place for you. This home is super nice and an absolute steal at this price. You could not build this quality at this price. You have to see this home.

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

Let's Clear the Confusion – Home Buyer Tax Credit

I always share as I write that I am not an expert and I do not even play one on TV so I want to make some of last weeks article a little more clear if I can. As my husband says, “lets see if we can make this as clear as mud” There is still confusion surrounding the tax Credit with the emphasis on CREDIT and not deduction. Please take my limited knowledge and run straight to your banker and your favorite Realtor and see what you can come up with. I have borrowed some examples that may apply to you and have consulted again with my banker friends that are wiser than me.

A refundable credit means that if you pay less than $8,000 in federal income taxes, then the government will write you a check for the difference
In the case that you owe $4,000 in income taxes at the end of the year you would pay nothing to the IRS and and receive a $4,000 payment from the government.
If you are due to receive a $1,000 tax refund from the government, your refund would grow to a whopping $9,000. ($1,000 plus $8,000 from the home buyer tax credit)
If your final tax liability is $6,000, but you’ve underpaid through your payroll witholding by $1,000. Normally, you would have to write the IRS a $1,000 check. This time, the first $1,000 of the tax credit pays your bill, and you get the remaining $7,000 as a refund.

Additionally, there are income restrictions: To qualify, buyers must make less than $75,000 for singles or $150,000 for couples. (Higher-income buyers may receive a partial credit.)

This is short and sweet this week so you will have time to run on down and get all your ducks in a row so you can get that house. I like to think of this as a little house warming present. Some of my buyers are looking at it as a discount so to speak on their home and with money being tight that is a welcome and one more reason to purchase their first home. I will leave you with some resources that may help you clear up the process and navigate you to a successful purchase.

First-Time Home Buyer Tax Credit information from the IRS.

State Housing Agencies with programs that provide short-term loans that may be used to fund a downpayment in conjunction with the tax credit.

Buying and Owning a Home Freddie Mac

Buying a Home Department of Housing and Urban Development

Buying and Owning a Home Freddie Mac

Buying a Home Department of Housing and Urban Development

The Home Buying Process Federal Housing Administration

FHA Loans Federal Housing Administration

Homeownership Resources Fannie Mae

NOTE: Please know that much of this knowledge is general in nature and your local lender will let you know what is available in your location.

Rates Rise – Home Sales Too

Mortgage rates held up well last week as the Federal Reserve auctioned off a whopping $200 billion in US Treasury debt and even managed to improve somewhat by week’s end as I had predicted. This week has been another story however. After sliding to 5.25%, the rate on the benchmark thirty-year, fixed-rate climbed back to 5.50% as the ten-year Treasury note yield rose to 3.73% by Wednesday morning.

Bonds prices have been falling in reaction to positive economic news and a renewed rally in the stock market though stocks looked ready to pull back by mid week. After a period of relative calm over the past several weeks, we are seeing a return to volatility and I expect to see some see-sawing of rates over the short-run as investors try to digest the mix of economic data and corporate earnings.

Yet another sign of a thawing housing market could be seen in a report released on Tuesday that showed pending home sales rose for the fifth consecutive month in June. According to the National Association of Realtors, the Pending Home Sales Index rose to 3.6% during June. That was 6.7% higher than in June of 2008 and the first five consecutive month increase since July of 2003. The number surprised most analysts who had expected a meager .7% increase. The majority of the sales were in the lower-end segment of the market indicating that many first-time buyers are getting off the fence, lured by low rates, low prices and the $8,000 tax credit. With a deadline closing date of November 30 to be eligible for the credit, I expect we will see a surge of first-time buyer activity in the next ten weeks or so.

Episode #16 – 2 BR in SummerBreeze for Only $180k

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

This week we feature three waterfront DEALS that are phenomenal. Folks, there are so many great deals right now in Panama City Beach, if you’re on the fence, now’s the time to hop off on the Beach Side. Give us a call and we’ll get you in something special.

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

Click the “more” tag for show notes and pictures.

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

Show Notes

Deal 1 – 4 Bedroom Home on West End for $177k

List Price: $177,500
Square Feet: 1,482
Price/SqFt: $119.77
4 Bedrooms, 2 Bath
Built in 2001
This home is a fantastic deal in a west-end neighborhood that needs a little work. Located in quiet Riviera Beach, this home is a steal at $119/foot. You’ll need to bring some new appliances and some plants. This is a foreclosure listing.

Deal 2 – Summer Breeze Home for $180k

List Price: $179,900
Square Feet: 1,300
Price/SqFt: $138.38
2 Bedrooms, 2 Bath
Built in 1984
If you’re looking for a great move-in ready home in a popular neighborhood that has it’s own fenced in yard AND pool, this is the deal for you. What’s more, is that it’s only $180,000 with super low association fees. This is a pre-approved short sale.

Deal 3 – Bay-front Super Nice Townhome only $325k at over 2300 sf

List Price: $325,000
Square Feet: 2,357
Price/SqFt: 137.89
3 Bedrooms, 2.5 Bath
Built in 2000
Wow, this is a rare deal and won’t last long. This place is super nice and sits right on the water. Located in the nice Pelican Bay, on the way back to Bay Point, this neighborhood is well known for staying nice. This townhome has a two car garage and tons of square footage to move around, along with tons of storage closets.

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

4 Questions (and answers!) About the Homebuyer's Tax Credit

Somethings in Real Estate can wait but getting a move on with the HOMEBUYERS TAX CREDIT cannot wait. So, this is a timely message for all of you home buyers that have been doing my favorite exercise. . . Procrastination. I have addressed this before but thought since time is running out for this great savings, I should bring it to the forefront again. As I always do I am going to answer some ACTUAL real life questions that people have brought to my attention and have consulted other legal resources for my answers. (Federaltaxpayerscredit.com)

Q. What if you have already owned a home or you are married and your spouse has already owned a home, can you qualify?

A. This is a big misconception that people have when you talk about the First time homebuyer credit because YOU CAN qualify even if you have already owned a home per the “Economic Recovery act” definition is as follows:

“The law defines “first-time home buyer” as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse.”

For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit. However, unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer, such as may occur if a parent jointly purchases a home with a son or daughter.

Q. What if you already have a partnership in a vacation home can you still qualify?

A. Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer. This is a big question I have gotten from many people and the answer was quite surprising to me as well. What a great surprise!!!!

Q. How is this home buyer tax credit different from the tax credit that Congress enacted in July of 2008?

A. The most significant difference is that this tax credit does not have to be repaid. Because it had to be repaid, the previous “credit” was essentially an interest-free loan. This tax incentive is a true tax credit. However, home buyers must use the residence as a principal residence for at least three years or face recapture of the tax credit amount. Certain exceptions apply.

Q. How about short sales at this stage of the game? Should I buy a short sale or a foreclosure?

A. Now that could be a whole other article. Let me preface this by saying. . . “don’t shoot the messenger!” All short sales are not inherently bad, but I would at this point ask your Realtor if it is possible to close in time. It may be a risky venture for a home buyer and they should know the time frame going in. Most foreclosures are not complicated and can close in a timely fashion so they should be just fine. Again seek the consult of your trusted Realtor and lender, and they can help you with this on a case by case basis.

A big thing to remember that makes this so wonderful is that this is NOT a deduction, it is a CREDIT meaning that you actually get the check up to $8,000 if you qualify. You may use the money as you see fit. You may want to pay yourself back for the down payment or closing cost or you may purchase a home that needs a little face lift. You DO NOT have to justify your expenses it is your money to spend. Another huge bonus is that in addition to this money you also will be able to take a tax deduction for interest payments.

So now that you know and you have just enough information to get excited, give us a call and we will send you a Reference guide to the “Economic Recovery Act of 2009” You can also call your lender and he will help walk you through this process but you only have until November 30 to close so. . . on your marks – get set – GOOOOOO.

Episode #15 – Waterfront Townhome with 2 Boat Slips and Xtra Lot

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 and pictures.

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

Show Notes

Deal 1 – Waterfront Townhome with extra lot and 2 Boat Slips – Only $199,000

List Price: $199,000
Square Feet: 1,475
Price/SqFt: $134.92
3 Bedrooms, 2.5 Bath
Built in 1986
This townhome has been completely redone and looks fabulous. You need to do nothing to start using this perfect piece of paradise. Included in the price is an extra lot and two boat slips, one of which is covered with a boat lift. The entrance to the waterway this property is on is only 12 minutes from Shell Island. The owners own Lighting Etc. so all the lighting fixtures are high-end and look awesome. I never realized how much this dresses a place up. This place is an absolute steal at this price.

Deal 2 – Huge 3,600 sf Tri-plex Set on a Lake with Gulf Views – $83 per foot

List Price: $299,000
Square Feet: 3,600
Price/SqFt: $83.06
5 Bedrooms, 3 Bath
Built in 1987
This is a huge detached single family home that splits into three separate units. The first floor needs some work, but the unit on the second floor and the unit on the third floor looks ready to use. This place is at the end of a dead-end street that is only accessible by driving by our wonderful Gulf of Mexico, which you have great views from the back porch of this home. This place also sits on a little lake with a huge deck right on the water with plenty of room to store your canoes.

Deal 3 – Gulf Front Condo in Celadon for only $299,500

List Price: $299,500
Square Feet: 1,157
Price/SqFt: 258.86
2 Bedrooms, 2 Bath
Built in 2007
Celadon is one of the most beautiful condo resorts on Panama City Beach. With a solid rental history and a premier location on the west end of Panama City Beach, Celadon is perfect if you’re looking for something sophisticated, yet fun. We weren’t able to get in this unit today, but we got some good footage of the property. Please call us if you want to get into this beautiful condo.

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

Old Deals – BACK ON THE MARKET

We’ve decided to do something different this week. Going through our old episodes, seeing what’s available or back on the market, we’ve found three very special deals that are back on the market. These are deals that were so hot they sold quick, but for one reason or another the deal fell through and they are back on the market. So, without further ado:

Deal 1 – Waterfront Wild Heron Condo for only $249,000

Let me start out by saying that this is waterfront, not gulf-front, there was some confusion on this last time. But, with that said, this condo is in the popular and truly one-of-a-kind gated Wild Heron community and is in immaculate condition. This condo at one point sold for $800,000. Now, I know that what something sold for at one point means nothing, but just think about this for a second. In order to command a price tag of that much a few years back, these condos had to be top of the line and the nicest of the nice. If you are looking for truly luxury living, Wild Heron is the place to be, what’s more, this place has just been reduced from $289,000 to $249,000! Here’s the video, you’re looking for deal number 3.

Notes for the Wild Heron deal:

List Price: $249,000
Square Feet: 1,711
Price/SqFt: 145.53
3 Bedrooms, 3 Bath
Built in 2004
We are no strangers to Wild Heron, and that community is so HOT right now with over 12 closings in there so far this year. Of course, with prices like this, its no wonder, these condos are top notch, from the ground up. And the community is second to none in Panama City Beach, truly one-of-a-kind with superb amenities that emulate a lifestyle that at one point would cost you close to a million dollars to buy into. This condo is a one-owner, live in that has been spectacularly taken care of. This is a short sale listing, that is actually Karen’s listing, and I’ve been told the bank is being very communicative.

Deal 2 – Splash, Gulf-front for only $254,900

The first deal is a condo in Splash, well known for the family-friendly atmosphere and the fun, covered water-slide area for the kids. Located on the quiet west end of Panama City Beach, this is a great condo for rentals. Here’s the video (it is deal number 1):

Notes for the Splash deal:

List Price: $254,900
Square Feet: 1,074
Price/SqFt: $237.34
2 Bedrooms, 2 Bath
Completed in 2006
Splash is well known for its stellar occupancy rates. The first summer season it was open to the public (I think 2007) I interviewed the GM of the onsite rental manager and he said they averaged 90% occupancy all summer. This is a foreclosure listing and the cheapest in the building (per sf). The condo is in good shape, although it needs some appliances. You’re paying for the amenities and the best rental capability on Panama City Beach.

Deal 3 – 2 bed 2 bath Gulf-front for $200,000 – wow!

Ok, so talk about a smokin’ hot deal. This is a gulf-front condo at Sterling Reef (at the end of Alf Coleman Road, that Shipwreck Island Waterpark is on) in central Panama City Beach that comes fully furnished and ready to rent. And at $200,000, you just can’t beat this deal. Sterling Reef is adjacent to the new county pier that’s quickly growing into the gulf, set to be complete by this time next year. In addition, you have around a quarter mile of white sandy beach to the west that is county owned and won’t be built on. Here’s the video, look for deal number 3:

Notes for Sterling Reef:

List Price: $200,000
Square Feet: 1,076
Price/SqFt: $185.87
2 Bedrooms, 2 Bath
Completed in 2005
This two bedroom two bath gulf-front condo in Sterling Reef comes fully furnished and rental ready for only $200,000. If you are looking for something right in the middle of all the action that’s ready to rent as soon as you close, this is the one for you. This is a short sale listing and we should note that there is a third party short sale negotiator involved that requires a 1.5% buyer fee paid to “The Short Sale Guru”, which, if sold for $200k would only be $3,000, still cheaper than anything else listed in this building.

Why I Love Being A Realtor

This is not really a tip more an explanation of what I like about being a Realtor since we are kind of taking a week off from our normal show and articles. When I was a little girl my grandfather and my dad were contractors and later we had a Real Estate company right on Rucker Blvd. I was not a natural born Realtor and when my dad suggested that I become a licensed Realtor I stomped to a class at the college very grudgingly. Curt (that is what we called him) asked me to get my license so I could do more than work on just our family owned stuff. I think I said something sweet like “over my dead body” Well I am very much alive and I am really loving what I do and can’t imagine not doing it.

I want to add that my father was one of the sweetest men and all the people that worked for him just loved him. I tell you all this because I was the only one that he ever fired. Somehow he did not think that I should get paid for filing my nails and going to lunch at the Mexican joint down the road. My father has been gone for years and somehow I ended up full circle but this time I am doing it with great joy and there is rarely time to file my nails.

I love being a Realtor and I have a problem knowing when to shut down the computer and my” Crackberry “and call it a night. I have met some of the most interesting people and had some of my most amazing challenges in this career. I laughed and got a little aggravated when a person blogged on one of my articles suggesting that she would love to know how much a Realtor makes by the hour. That is a number I really do not want to know!! What I do know that like many of my Realtor friends I get a thrill out of studying the market and seeing what is sold, pended and back on the market and all those wonderful price reductions. It is a thrill to meet new people all the time and be a part of their first home purchase or help them sell a home to move up to their retirement or dream home. In today’s market it is not so easy but it is satisfying when you help them sell that short sale that takes a load off their mind and their pocket book.

One of my favorite parts of this business is that it is always changing and if you are wanting a job that is never dull then this is the gig. I love my fellow Realtors and in spite of what you may think… most of us really like each other and we get a big rush to help our fellow Realtor. I love it when a Realtor calls me to ask me things about Wild Heron because I happen to know and love that place and they do the same for me when I travel into uncharted territory. A good Realtor is one of the hardest working people I know and learning to work with delayed gratification is a must in this profession especially if you have to have the green reward. Sometimes my reward is someone calling me up and thanking me for helping them find their home and how much they love it and many times the reward is just knowing that I am doing what I love to do.

I have a motto that I really strive to live by and you will see it on everything that I write and it is….”The only people we have to get even with are those that have helped us” My list is long and I hope yours is too. I used to wonder if I could make a difference by being a Realtor or maybe I needed to be someone in a field that was more giving. I have found that I can make a difference and this can be my mission just like any other. So I want to end with a heartfelt thank you to all my customers and all my Realtor friends and my precious people I work with that make this such a fun and exciting career. Thanks for watching TheBeachShow.com and Jason and I will be back in full form next week.
In the meantime, “I have to go file my nails”

Episode #14 – Huge 4 Bed Home Steps from the Beach $262k

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 and pictures.

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

Show Notes

Deal 1 – 1 Block from the Beach for Only $98k!

List Price: $98,900
Square Feet: 1,088
Price/SqFt: $90.07
2 Bedrooms, 1.5 Bath
Built in 1982
This townhome has been totally redone on the inside. Located only 1 block from the beach, this is a perfect place if you’re looking for a great starter home or a phenomenal rental. Move-in ready, you can’t beat $90/foot. There are great appliances, the bathrooms look great, tile in the kitchen and dining area with bamboo flooring in the living area. There is a newly redone deck on the second floor over looking the fenced in back yard. There are no association fees. This is a short sale and won’t last long.

Deal 2 – Huge 3 Story 4 bed House 200 Feet from the Beach for $100/foot

List Price: $262,500
Square Feet: 2,613
Price/SqFt: $100.46
4 Bedrooms, 4.5 Bath
Built in 2006
Huge 4 bed 4 and a half bath 3 story single family home 200 feet from the white sandy beaches of Panama City Beach. In fact, we could see the Gulf of Mexico from the street. Surrounded by good looking homes, you can’t go wrong with the price of this one. There are some minor things that need to be addressed, including a blemish inside the garage, but all-in-all, this is a great deal. Includes a two car garage and a wet bar on every floor. Talk about cash-flow.

Deal 3 – Single Family Home in Carillon for $525k

List Price: $525,900
Square Feet: 2,244
Price/SqFt: 233.96
4 Bedrooms, 4 Bath
Built in 2007
Single family home in the much sought after Carillon Beach. 3 story 4 bed 4 bath brand spankin new home in one of the most pretty areas in Panama City Beach, full community amenities included. 8 “dune” walk-overs to the beach, community pools, including one on the beach and some of the most breathtaking views around. This home is a foreclosure and was originally purchased for $1.4 million. You have to see this place, if you like high-end living, this is it.

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

Episode #13 – Gulf-front House for $850k

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 and pictures.

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

Show Notes

Deal 1 – Brand New Home, Needs Nothing for less than $200k

List Price: $192,900
Square Feet: 1,500
Price/SqFt: $128.60
3 Bedrooms, 2 Bath
Brand Spankin’ New – Just completed
Looking for a home with great green grass, sprinkler system, fenced in yard, brand new inside and out, including EVERYTHING and has NEVER been lived in? This is the home for you. This home was completed earlier this year and was under contract set to close recently, but everything fell through on the buyer’s side last minute. I love this home. Everything was done very cleanly and there is so much room to move around. The lot is huge with a huge, grassed, fenced in back yard. When you think of a great quality Florida starter home, this is what you think of. Proximity to the beach is great, you could walk to a public beach access in under 5 minutes.

Deal 2 – Gulf-front HOUSE for $850k

List Price: $849,000
Square Feet: 3,100
Price/SqFt: $273.87
7 Bedrooms, 3.5 Bath
Built in 1976
Old beach house with 50 feet on the Gulf of Mexico. Total fixer-upper, but it’s listed at the same price vacant lots are listed for. Individual Gulf-front lots are a precious commodity in Panama City Beach and this is a rare opportunity to have something very few others have. This is a foreclosure listing.

Deal 3 – Absolute Steal in Wild Heron with Rare Full Golf Membership at Shark’s Tooth

List Price: $334,900
Square Feet: 2,192
Price/SqFt: 152.78
2 Bedrooms, 2 Bath
Built in 2006
If you are looking for that high-end neighborhood in Panama City Beach that’s new, Wild Heron is it. Truly one-of-a-kind, Wild Heron boasts the only highend feel and world-class amenities in the area. This home has it all, including a two car garage, separate dining a kitchen areas, study area for an office, huge bedrooms and very awesome full wall sliding glass doors that bring the beautiful nature preserve behind the property right into your huge living room. Of course, the huge deal here is that the price includes a full golf membership as it was originally set up to Shark’s Tooth Golf Course.

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