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Investing in PCB Real Estate: The Start of Vacation Adventures in Paradise!

Author:Kim Brooks
Categories:Blog,News,PCB Info,PCB Real Estate News,Real Estate Info
Investing in PCB real estate

My husband and I have been PCB real estate along the Emerald Coast for six years now, and we have helped many vacation property investors purchase their vacation beach home.

Our philosophy is simple: As Panama City Beach real estate agents, it is our job to be that trusted advisor and help with the process and purchase of the right home.

In many of our conversations with our real estate clients, the question has come up: do we own a vacation investment home in Panama City Beach… and well, the answer has been no.

My husband was always willing to go down that path, but I wasn’t quite ready for it. Well…with the words of Zac Brown’s Castaway song in my head, “Pour me another one, make it a strong one, we’re gonna have some fun tonight,” the discussion ensued about taking the plunge into the Panama City Beach vacation rental market.

Just kidding… there was no rum or any alcohol involved in the decision. The serious conversation began a month or so ago, walking my corgis. I really can’t explain why I turned the corner in my mind and decided it was time for us to invest in the Panama City Beach vacation rental market, but turn the corner I did! And decided we should go for it! (I think you could have knocked my husband over with a feather when I told him I was on board!!)

Now, what you may or may not know, is that right now, Panama City Beach Real Estate is hot…hot…hot…(leaving another little tune in your head, shout out to Arrow)!

We have LOW inventory and a HIGH demand when it comes to Panama City Beach real estate for sale.

Even knowing the market as well as we do – and knowing we needed to execute quickly on PCB beach property – we had some disappointments trying to close on our first vacation investment home. Lesson learned… in the current real estate market, you do not want to wait! If you have decided to invest in real estate in PCB, you better pull up your anchor and head out in the water, or you are going to miss out!

As PCB real estate agents and knowing the market, we had an idea of some of the places that would suit our needs.

Finally, on our third try, we found and closed on our diamond in the rough…and I mean a diamond in the rough. So, not only are we taking on the vacation investment market, but we are taking on a little fixer-upper action as well. You see, the PCB condo for sale that we purchased was technically rental ready. We could have put it on the vacation rental market after we closed on the property.

However, in our experience, we know that the more updated the PCB vacation rental property is, the better your investment return will be. So we decided to take on a renovation…and with any renovation, there is always a budget… I mean, blown budget (wink, wink).

So here we are, we just closed on our condo, and it’s time for the renovations to begin. And this is where the, “I got a guy…” list comes in handy. Again, working with so many investors in the past and helping counsel through design and renovation, we have our list of go-to professionals… a must-have list for real estate agents. We never recommend someone unless we have used them or are willing to use them. As the condo renovation gets underway, I will keep you updated on our beach paradise adventures… the good… the bad… and the ugly. But, oh wait! There is no ugly on the sugar-white sandy beaches and the emerald waters!

As you follow our adventure, if you are interested to learn more about purchasing your Panama City Beach home or purchasing a PCB vacation investment property, reach out to Life’s A Beach Real Estate.

We have a team of real estate professionals who can walk you through your transaction, whether it is your first home or vacation home.

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Horribly Horrific Things To Avoid When Buying A Beach Home

Author:Kim Brooks
Categories:Blog,News,PCB Info,PCB Real Estate News,Real Estate Info
Things to Avoid When Purchasing Your Panama City Beach Home

So you are considering buying a beach house or condo in Panama City Beach?

What could possibly be horrible or horrific about that? Well absolutely nothing, almost.

This is a list of red flags to avoid that is really relevant to buying a new home anywhere but would be particularly obnoxious when you have finally arrived at your beach home and are expecting to exhale with a pina colada in hand (or margarita, depending on your personal preference).

  • Don’t buy a piece of real estate before taking a glance (and listen) around at the neighbors. Unfortunately, they come with any new property and last time we checked, you can’t renovate them if they irritate you. Are they loud, unfriendly? Do they have a dog that they let bark constantly or an unkept yard or balcony? It’s pretty awesome to have a condo on the 28th floor looking out at the ocean but not if you can hear your neighbor’s Rottweiler barking to go on a walk every three hours. That is not a recipe for a relaxing and happy vacation spot.
  • Have your realtor help you check to see if there are any outstanding liens on the property. This can be done at the county clerk, recorder or assessor’s office (and in some cases, online). If there are liens, then they need to be remedied before you purchase the property. This should be taken care of with the title, but it never hurts to check at the outset in hopes of preventing hurdles and time delays further into the purchasing process.
  • Also consider looking to see if any suits have been filed against the property builder or condo association. Even if a case has been settled or closed, it will still apprise you of potential issues such as chronic leaky windows. It’s easy for a seller to repair and paint over damaged areas for the purpose of selling a property so it’s good to have a heads up if there is something specific you want your inspector to look for.
  • Last but not least, it’s easy to be swept away but granite countertops and updated bathrooms, but it’s important to also take notice of community areas in a condominium building. Community areas are also part of what you are purchasing and will be associated with your property (and your enjoyment of it) for as long as you own it. Is trash being disposed of in a timely and appropriate manner? Is the outside of the building in good repair (no peeling paint, rust or signs of water damage)? These are important issues that can drive down your property’s resell value down the line if not attended to. Take the time to investigate them now as well as the steps that are typically taken to remedy any issues. Also, your realtor should help you review the rules of your condo association as well as the HOA fees you are obligated to pay to address such upkeep requirements.

Using a knowledgeable and experienced real estate group such as Life’s a Beach Real Estate can help you navigate through some of these red flags when purchasing a house or condo in Panama City Beach. We know the Panama City Beach real estate market well and are looking forward to helping you find your dream home successfully!

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Why Panama City Beach Should Be Your #1 Retirement Destination

Author:Kim Brooks
Categories:Blog,News,PCB Info,PCB Real Estate News,Real Estate Info
Why You Should Retire to Panama City Beach

Ahhh, retirement is here at last (or at least on the horizon) and you can finally start living your dream life at the beach.

There are numerous reasons why buying a condo at Panama City Beach should be a major contender in your retirement plans.

Here is a list of what we at Life’s a Beach Real Estate think are the major ways in which Panama City Beach is an attractive retirement spot. Feel free to reach out us for additional information about this great city and all that it has to offer!

  • Smart Investment. It’s always a good idea to choose an opportunity where your financial investment has a high probability of growing. You never know what might come up in life and there’s just no reason to look away from an opportunity to invest in real estate that has chances of bringing you a positive return. Zillow, Realtor.com and Trulia all report growth in the Panama City real estate market with Trulia showing median home prices with an increase of 7% in the last twelve months and the average price per square foot rising from $139 to $153. Similarly, Zillow reports a 6.4% growth in median home values in 2017 and predicts an additional 3.9% value growth in 2018. We don’t need to explain to you the value such trends could bring homeowners if they continue long term. We think it would be pretty sweet to be making money off your beach house in retirement just by sitting at the beach – don’t you agree?
  • Active Senior / Retirement community. Almost half of Panama City Beach’s population is made up of people over the age of 45 (https://www.floridaforboomers.com/retirement-spotlight-panama-city-beach/). This statistic is important because it shows the value that seniors have to the community and economy in this city. As a result there are countless clubs, communities, activities and resources dedicated to senior wants and needs. Not to mention the numerous golf courses and golf clubs in the area . . that is, if the idea of golfing during your retirement is appealing to you!
  • Beaches. This goes without saying but there’s no reason not to throw it in here as well since it’s our favorite part of this area. Did you know Panama City Beach boasts 27 miles of beautiful beaches? Depending on what other beaches you have visited in the world, your appreciation for Panama City Beach’s sugary soft white sand will be substantial. It is one of the most beautiful beaches in the world in part due to the luxurious softness your feet are treated to simply by taking a daily walk by the water. Not. Too. Shabby.
  • Restaurants and Shopping. For those of us not as into playing 18 holes five times a week (that’s a total of 90 holes, FYI), Panama City Beach is also known for its countless restaurants and shopping. Restaurants range from beachside dives to anniversary worthy five star restaurants, bring on the culinary romance!

Shopping has an equivalent spread of options with the most popular spot probably being Pier Park, an open air mall with almost a MILLION square feet of stores that is located across the street from the beach. Retirement is looking better and better!

If this sounds like a great way to dive into retirement, Life’s a Beach Real Estate can help you locate the perfect house or condo in Panama City Beach to call your new home. We are on standby, waiting to show you what this city has to offer!

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Prepping Your Beach Home for the Panama City Beach Real Estate Market

Author:Kim Brooks
Categories:Blog,PCB Real Estate News,Real Estate Info
Panama City Beach Real Estate Marketing - Prep Home Image

The first and most important step to putting your home on the market is to find and enlist a real estate agent to be your guide and resource throughout the process.

On average, real estate agents are able to get sales prices 15% higher than when a realtor is not involved.

Here at Life is a Beach, our familiarity and experience with the Panama City Beach real estate market can go a long way in helping you find the right buyer for the best price and as efficiently as possible.

However, there are a few things you can do to get started on prepping your home even before we get involved!

  • Clean out closets and get rid of clutter and then clean out more closets and get rid of more clutter! It is very difficult for buyers to imagine lazy days at the beach with your property as their home if their immediate vision is obstructed by too much of your stuff. We cannot stress the importance of this enough. Clear off all tabletops and counter tops and take down all photos of you and your family and friends. Again, it’s tricky for buyers to envision themselves in your home if they are constantly looking of pictures of you in your home!

Don’t get us wrong, your belongings and family photos are treasures in your life as they should be, but for the purposes of marketing your home, you should store them in a safe place until the process is over.

  • Keep an eye on other properties in your complex or neighborhood and see how they compare to yours. Make a list of what those properties have to offer that yours does not and vice versa and make note of how long those properties are on the market and what their final sales prices are (especially compared to their original asking prices). This is all information that your realtor will help compile for you as well, but it never hurts to start becoming aware of the market conditions that will be relevant to selling your home.
  • Sit down and think about what your own timeline and plan is for selling your home. Where do you plan on moving to next? Do you need to sell your home before you can buy your next home? Most people do and realizing this and planning accordingly ahead of time can save you a huge headache. Otherwise you may be faced with the choice of laying out a lot of money for an interim rental or watching a buyer fall through because your timing requirements were realized too late. There are various ways your realtor can accommodate your needs when made aware of them from the beginning.
  • Plan on making a few repairs to your property but hold off on making them until you sit down and discuss them with your real estate agent. Often times, certain repairs should be prioritized over others and getting advice from your agent before diving in can save you time and money. You may think that your bathroom needs to be re-tiled but your realtor may advise you on prioritizing a broken step at your back door instead. You just never know, so hold off and ask a professional!

Most importantly, get excited because the real estate agents at Life is a Beach are ready to work with you. The Panama City Beach real estate market is a great place for a seller and we are here to guide you towards the best results!

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