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Welcome Home – Buying A Home Along The Emerald Coast

Welcome, Home!  The Economic Impact of Buying a Home.

When you buy a home, you make an economic and social impact in the Emerald Coast communities.

For every existing home sale, 1/6 of a new homes’ value is added to the economy“. – National Association of Realtors

Check out the state by state economic impact report.

There is no doubt, having a sense of community unites us. Being a part of a community helps us in becoming something greater than ourselves. As we connect with people, we learn more about ourselves and others.

Every person needs to have a sense of community.

 

Take a moment to watch this short video on how your home purchase contributes to your community.

 Life’s A Beach Real Estate team would like to welcome you to their communities, welcome home!   There are always opportunities to make a difference in your community, reach out to us if you are looking for opportunities to serve you, neighbor!  We have office locations in Panama City Beach, FL, as well as Destin, FL.  We are always here to help and look forward to hearing from you.

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Home Price Appreciation – PCB & Destin Area Real Estate Market Outlook

Experts Project Home Price Appreciation Into Next Year

Experts agree the 2021 forecast is calling for continued home price appreciation.

“One of the main drivers of the strong housing recovery is historically low mortgage interest rates. The U.S. weekly average 30-year fixed mortgage rate hit an all-time low of 2.86% in the second week of September”. – Freddie Mac 

 

“The CoreLogic HPI Forecast indicates that home prices will increase on a month-over-month basis by 0.2% from September 2020 to October 2020, and on a year-over-year basis by 0.2% from September 2020 to September 2021”. – CoreLogic

 

That is great news for homeowners looking to sell to capitalize on the equity in their homes.  If you are a buyer on the fence right now, you might want to think about moving forward on your purchase to take advantage of appreciation equity, possibly.  And, whether you are a buyer or seller, a strong housing market is always good news.

Take a moment to watch this short video about home price appreciation.

If you want to learn more about the value of your home, or are in the market to purchase a home, reach out to the Life’s A Beach Real Estate team to learn more.  We have locations in Panama City Beach, FL, as well as Destin, FL.  We are always here to help and look forward to hearing from you.

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Mortgage Pitfalls – PCB Real Estate Market Outlook

Mortgage pitfalls, things to avoid after applying for a mortgage.

 

Mortgage rates are at an all-time low!  If you have been thinking about purchasing that home or investment property, now is the time. 

There are several key things to avoid doing once you’ve applied for a mortgage, to avoid the mortgage pitfalls that could derail the purchase of the beach home or condo you have been dreaming of.  Take a moment to watch this short video to educate yourself on some of those do’s and don’ts.  Once you have done that, reach out to the Life’s A Beach real estate team to learn more about the local lending market and how to avoid the local market mortgage pitfalls that can impact your purchase in real estate in Panama City Beach.

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Your PCB Investment Property – To Manage or Not to Manage

PCB investment property to manage or not to manage

Last week I touched on the best way to put your PCB investment property on a vacation rental program as there are options out there. Before I get into that, however, let me update you on our renovation project.

Originally we had planned to renovate our PCB investment property in phases.

The first phase, bathrooms, flooring, and new appliances. Next phase painting and furniture, and following that redoing the kitchen.

Well, what is the old saying about “…best-laid plans?”

It turns out the phases have turned into one BIG project when it comes to our investment condo.

We are gutting our condo entirely and tackling it all at the onset. I have had to take a few breaths as I come to terms with the budget (more than) blown. And the timeline went from a couple of weeks… to possibly three months. Not to mention the ups and downs of the surprises we find as we get further in our condo renovation project.

Saying all that, we decided it was the smarter business decision to complete the renovation project sooner rather than stretching it out over time.

Renovating in phases could impact renting a PCB condo.

Furthermore, ultimately, we would spend more money by having to redo completed work every time we start a new project.

So, needless to say, this adventure with our PCB investment property is continuing and bound to have more twists and turns!

Stay tuned as the Panama City Beach investment condo adventures continue…

Ok, back to the subject at hand.

As a Panama City Beach real estate agent, I am often asked, “How do I manage my investment property?”

Well, there are two primary options for investment property management in PCB:

  • First, you can hire a property management company.
  • Alternately, you can manage a PCB investment property yourself.

If you choose to manage a PCB condo or investment property on your own, you will get a better return on your investment.

However, you will be handling reservations, cleaning, and maintenance.

If you hire a PCB property management company, you pay a fee percentage to back to the company.

However, you will not have to worry about the headaches of reservations and day-to-day management.

Another benefit of managing a PCB condo yourself (beyond the increased revenue) that you get more control over your reservations. You also have hands-on communication with your cleaning and maintenance team. You will need a reliable team, and you want to take care of that team as they are boots on the ground, helping you take care of your investment.

Ok, so then, what are the benefits of hiring a PCB condo management company?

Primarily, someone else is handling everything for you and many people prefer that approach.  For those who do, it is worth it to them to pay the fee.

Here is some advice… and please take to heart if you are getting into the PCB investment property market, and especially if you decide to hire a company to manage: CHECK ON YOUR INVESTMENT PROPERTY! Don’t assume that someone else is going to take care of your property as you would. Make sure it is maintained appropriately and according to any fees charged on your statement(s). Monitor your reviews and if there are issues, address them and do not ignore them.

If you are stepping out into the emerald waters of the Panama City Beach or PCB investment property market and have questions, reach out to us.  We would be more than happy to help!

And as always, if you have ANY PCB real estate needs at all, the Life’s A Beach Real Estate team is here to help.