Wondering what is going on in the real estate market in Panama City Florida? Take a look at this video and the reports below for March 2010. Give us a call with specific questions at 850-392-1770 or visit us online at www.KnowPayneKnowGain.com
Sales and Inventory Report
Category – Residential, NON CONDOS
Statistics for Entire MLS from 3/1/2010 – 4/1/2010
Month
Year
Monthly
Sales
Monthly
Volume
Avg List $
Avg Sale $
Avg $/SqFt
Median Sold $
Avg DOM
% Sold/List
Current
Inventory
Months
Inventory
March
2010
133
$21,998,357
$176,642
$165,401
$102
$140,000
156
93.63%
2526
18.99
Sales and Inventory Report
Category – Residential CONDOMINIUMS
Statistics for Entire MLS from 3/1/2010 – 4/1/2010
Wonder why your home is not selling? You spruced up the flower beds, replaced the carpet, painted, cleaned, staged, prayed, everything you could think of to sell your home and it is still not selling????????
Hey Renters!! Are you really OK with paying your landlords mortgage each month? Every rent check that you write is gone forever, that money is money that you will never see again. Your landlord is laughing all the way to the bank because the landlord understands the benefits of homeownership, the tax benefits, the appreciation, etc etc….. You are making their mortgage payment.
Here are a few things to consider:
The average home in Panama City, Florida costs about $180,000, that would buy a very nice home in a great neighborhood.
The average rent for this type of home is $1100 to $1200 per month.
The payment on this home with no money down and seller paid closing costs would be about $1150 per month.
Purchasing a home before April 30 could result in up to $8000 in a tax credit paid directly to you!!
What are you waiting for? Ditch the landlord!!!!!! Call us today at 850-392-1770 or visit us online at www.KnowPayneKnowGain.com Our buyer specialists will take great care of you!!!
Lynn Boyd of The Payne Group and Keller Williams Realty in Panama City Florida explains the benefits of using an agent that only works with buyers when shopping for real estate. The reasons are numerous but Lynn points out a few.
A buyer representative only works with buyers, they don’t have listings, don’t have a seller that they are trying to please. The buyer representative doesn’t care who the seller is, they only look out for their buyer.
Lynn has a proven system and she has perfected it! Practice makes perfect! She typically needs to meet with the buyer for 1 hour before showing properties, then she usually only shows 5 homes or LESS before finding the home for the buyers. WOW, that saves ALOT of time and can save alot of money, not to mention alot of aggravation for the buyer and the agent!! Time is money for the buyer PLUS it can ensure that the buyer does not lose the perfect house because the agent did not have a system and showed them 50 houses!
I can go on and on but those 2 points should be all that a buyer needs to find their next agent!!! Call Lynn Boyd today at 850-541-2725 or visit us online at www.KnowPayneKnowGain.com
OK, I am very tired of hearing how bad the real estate market is, everytime that you turn around, the news is reporting that everything is BAD, BAD, BAD. The reporters usually find a real estate agent that has nothing better to do and does not know any better to interview. Yesterday I watched an interview that was titled, “The Banks want to foreclose and not short sale”. The reporter interviewed an agent in that area HOWEVER she did not interview the team that sold nearly 300 short sales in that area last year, Group 46:10 at Keller Williams, Kevin Kauffman and Fred Weaver, probably because they would have told her something good about the real estate market!
CANCEL YOUR NEWSPAPER SUBSCRIPTION, WATCH SEINFELD INSTEAD OF THE NEWS (PROBABLY MORE REALISTIC THAN THE NEWS) AND TUNE INTO WWW.PAYNESWORLD.INFO FOR THE REAL NEWS IN REAL ESTATE!
Bad market? March 2009 for The Payne Group, 18 new listings, 10 sales!!!!!! Not bad for a traditionally slow month
Call us today to find out how we can help you with your real estate needs 850-392-1770, or visit us at www.KnowPayneKnowGain.com
Posted in Uncategorized on March 30, 2010 by Payne's World
Time is running out to capture the home buyer tax credits!!
First time home buyers (or those that have not owned a home in the last 3 years) can qualify for up to $8000 free cash for purchasing a home and existing homeowners can qualify for up to $6500 in a credit if they have lived in their home 5 consecutive out of the last 8 years.
To capture the credit, the buyer MUST be under contract on the purchase by April 30, 2010 and close within 60 days of the contract date. That means April 30 you have to be under contract and MUST close by June 30, 2010 at the very latest. There are exceptions for military, foreign service and intelligence service for an extra year.
Time is of the essense, so here are a few tips:
Be realistic, tell your agent exactly what you are looking for. Avoid short sales because you will not have enough time to close
Understand that there can and will be delays, insurance could be suspended because of a hurricane, loan underwriting takes longer today, and service providers have fewer employees-surveyors, lenders, title companies etc
Get pre approved before shopping, know what you can afford and know that you are approved
Get your insurance in place immediately after finding the home
Make sure that you do not delay any paperwork that needs signed or turned in
Allow extra time, don’t wait until the last minute to try to close…one day could cost $8000!
There is alot of talk about the benefits of selling your home yourself. I can appreciate the do it yourself mentality, to an extent. Your home is the most valuable asset that you have, most likely, and it represents the biggest investment that most people will make in thier lifetime. Take a look at the following 10 reasons that you should consider letting a professional handle the sale of your home.
Understanding of the market. Do you really understand the real estate market? It is likely that most people will only sell a home every 7 years and will only sell 3 or 4 homes in a lifetime. I sold 121 homes LAST YEAR alone.
Market timing. Do you understand the cyclical nature of the market? Do you know the best time of the year to put your home on the market?
Do you have a team of professionals to work with you? Title agents, attorneys, lenders, inspectors, surveyors, etc. We have a team ready to go!
Do you know how to determine fair market value? Price it too high and it won’t sell, price it too low and you leave money on the table.
Can you detach yourself emotionally? Taking the emotions out is the job of a Realtor.
Do you know how to prepare your home for the market to make sure that you are the best VALUE compared to the other homes on the market?
How will you spread the news? The 3 P’s are not sufficient in a buyers market, put a sign in the group, put it in the newspaper and pray that it sells is a bad strategy. We have proven marketing systems!
How are your negotiation skills? See #5, emotions can hinder negotiations. You need an experienced agent to negotiate on your behalf
Do you know a qualified buyer from a tire kicker?
Did you know that the average FSBO nets 16% less than what an experienced agent could get for the property?
Buyers tend to see a FSBO sign the same way that they do a Garage Sale sign, it is their opportunity to wheel and deal and to make low offers. Think about it this way, do you pay full price at a garage sale? Probably not even close.
Now is the time to buy a home in Panama City and Panama City Beach, Florida and most likely anywhere in the USA!
Prices have fallen to 2003-2004 prices, remember back then when EVERYONE was buying and the prices overheated? You would have done anything to buy a home then, what is stopping you?
Interest rates could not get much better, you can get a mortgage for around 5%. Remember when anything under 6 was AWESOME?
The government is giving away money to get you to buy a home and TIME IS RUNNING OUT! You may qualify for as much as $8,000 for buying a home if you are a first time home buyer (or have not owned a home in the last 3 years) OR you could qualify for up to $6500 if you are a current homeowner buying another home. FREE MONEY, FREE MONEY, FREE MONEY! Did I mention FREE MONEY?
Please do your homework and resist the urge to time the market! Remember those day traders and contract flippers? Where are they today? Broke! Bankrupt! Foreclosed. Dont’ let that be YOU!!!! You should buy when everyone else is selling!! NOW!!
The risk of timing the market can cost you BIG! Let’s assume that you can buy the average home in Panama City for $200,000 with an interest rate of 5%. You also qualify for the $8000 tax credit. If you use the tax credit money to pay down your mortgage as a down payment, you would have a principal and interest payment of roughly $960 per month. Now let’s see what happens if you wait 6 months and perfectly time the market after 10% decrease. You would now buy the same home for $180,000 BUT do not get the $8000 tax credit…. stay with me, AND the interest rates creep up to 6% (STILL A GREAT RATE!) . Guess what? Your payment is now $1080. You just timed the market and lost! One more assumption…. prices drop 10% and interest rates stay the same, you pay $180,000 for the home and do NOT get the tax credit, your payment is now $900 per month, a $60 dollar savings BUT most likely the home that you love today is GONE BABY GONE!!!!!!
@BofA_Help Every single REO closing that we have is being delayed by Landsafe. Can anyone help? Alot of wasted time and energy landsafeTwitter2 weeks ago
