According to the KCM Blog, the Mortgage Bankers Association, Fannie Mae and the National Association of Realtors have all projected that the 30-year mortgage rate will be at least 4% by the end of 2013. If we assume that rates will still be at 4% in twelve months, here is the difference a buyer will pay if they wait.
According to search results on Trulia, Panama City Beach is the 8th most searched location in the country for a vacation home. You get a lot more for your money in Panama City Beach than most other coastal resort locations. Here are the rankings according to Trulia:
America’s Top Vacation-Home Spots
The two most-searched vacation ZIP codes in America are both in Cape May, NJ: Ocean City and North Wildwood. The top vacation areas also include Kissimmee, Marco Island, and Panama City Beach, all in Florida. In California, the most popular locations for a vacation home are Big Bear Lake and Lake Arrowhead near Los Angeles, and in the north, Truckee and South Lake Tahoe.
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America’s Top 20 Vacation-Home ZIP Codes |
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| # | ZIP code | Neighborhood | County | Median price |
| 1 | Ocean City | Cape May, NJ |
$525,000 |
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| 2 | North Wildwood | Cape May, NJ |
$289,000 |
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| 3 | Kissimmee | Osceola, FL |
$298,800 |
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| 4 | Ocean City | Worcester, MD |
$275,000 |
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| 5 | Marco Island | Collier, FL |
$499,000 |
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| 6 | Big Bear Lake | San Bernardino, CA |
$335,000 |
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| 7 | Lake Arrowhead | San Bernardino, CA |
$399,000 |
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| 8 | Panama City Beach | Bay, FL |
$294,245 |
|
| 9 | Gatlinburg | Sevier, TN |
$179,600 |
|
| 10 | Cherry Grove Beach | Horry, SC |
$219,900 |
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Now may be the best time ever to buy as prices on many properties are equivalent to values from 2002 and even earlier. We have definitely turned a corner and bottom feeders need to act fast. Inventory is dramatically reduced from the 2006-2012 period and well-priced properties are selling in days, often with multiple offers.
During the period thru third quarter 2017 home prices nationally are expected to rise an average of 3.3 percent and .06 over the next year according to a report by Fiserv Case-Shiller. They ranked the top 15 cities by the projected annualized change in home prices between the third quarter of 2012 and the third quarter of 2017. Panama City is projected to beat the average by a whopping 5.8 percent!
Here are articles from 2006 – 2013 that show Panama City performing in the top tier of markets in the U.S.
15 Best housing Markets for the Next 5 Years – AOL Real Estate from May 2013
Top 15 Housing Markets – The Blaze from May 9, 2012
15 Best Housing Markets for the Next Five Years – Yahoo Finance from Nov. 2012
Best and Worst Housing Markets in the Next 5 Years – MSN Real Estate – December 3, 2012
Top 10 Cities – Where to Buy Now – CNN Money from November 2006
Below is a chart showing annual home price appreciation rates from forecast-chart.com for Panama City / Lynn Haven (excluding Panama City Beach). Panama City Beach would show much higher increases (and decreases).
Real Estate Appreciation, Rank & Percentile
Last Quarter 0.21% Rank: 224 of 381 (41st Percentile)
Last Year -0.2% Rank: 222 of 381 (41st Percentile)
Last 5 Years -30% Rank: 330 of 381 (13th Percentile)
Last 10 Years 19% Rank: 176 of 381 (53rd Percentile)
Last 20 Years 96% Rank: 91 of 368 (75th Percentile)
Decline From All Time High 34.37%
On Panama City Beach there are still opportunities where prices are down as much as 70% from the 2007 highs. Call 850.814.5557, click the “Need Help” button, or fill out a “Request More Info” form to the right if you would like us to email you a list of the best buys in homes, condos, land, and commercial properties in your preferred neighborhood or price range.
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A full lineup of award-winning artists hit the stage at the annual Seabreeze Jazz Festival in Panama City Beach, FL. The Aaron Bessant Park Amphitheater located in Pier Park sets the stage for a jazzy, all-star weekend, which draws music lovers near and far.
Named “Top 10 Jazz Festival in the USA” by JazzIZ Magazine and recently nominated as “Best Jazz Festival” at the Oasis Smooth Jazz Awards, The Seabreeze Jazz Festival combines the top national smooth jazz artists with a full weekend of fun, sun, great beaches, and good times– all on the west end of Panama City Beach. The event now attracts over 20,000 fans from the USA, Canada, and Europe for what many call “The Ultimate Weekend” in one non-stop performance-packed weekend of music.
Online and telephone ticket ordering is now closed.Tickets can be purchased at local Northwest Florida ticket outlets: Reggae J’s and Florida House at Pier Park in Panama City Beach, Wow Cable and Creative Gems in Panama City, Vacuum Center in Destin across from Regatta Bay, and Playground Music Center in Ft. Walton Beach at Uptown Station. Military personnel can purchase at Eglin AFB, Tyndall AFB, or the Naval Coastal Systems Center in Panama City Beach at the MWR Offices on base (with a military discount).
Remaining tickets will be on sale at the event gates starting Thursday, April 18th at 3pm. Tickets purchased at the gates day of the event include a surcharge of $5-$10 depending whether it is a single day ticket or a multi-day pass.
Lineup and Schedule:
Wednesday April 17th
Smooth Jazz Dinner Cruise aboard The Lady Anderson
Hosted by Brian Culbertson 7pm-10pm
(Boat boards at 6:30pm, sails at 7pm)
Thursday April 18th
1:00pm Free Kickoff Jazz Jam and Wine Tasting at the Pier Park Dr. Street Stage
— Gates open at 4pm — Show at 5pm
5:00pm Steve Oliver
7:00pm Margo Rey
8:30pm Boney James
Friday April 19th — Gates open at 4pm — Show at 5pm
5:00pm Ken Ford
7:00pm Tim Bowman
8:30pm Fourplay (Bob James, Harvey Mason, Nathan East, and Chuck Loeb) with special guest Lalah Hathaway
Smooth Jazz After Party Jam — 10:30pm at Reggae J’s at Pier Park (buffet at 10:30pm/Show at 11pm)
featuring Motown Jazz Jam — Hosted by Brian Culbertson
(Presented by Smooth Lounge.com)
Motor City’s top smooth jazz artists and session players create the ultimate jazz jam show.
Saturday April 20th — Gates open at 10am — Show at 11am
11:00am Brian Lanair — (Seabreeze Rising Star)
12:30pm DW3 — (Los Angeles based smooth jazz group)
2:00pm Peter White and Euge Groove
4:00pm Peet Project (Hugarian based jazz and funk – 1st USA show)
(Seabreeze Hidden Gem)
6:00pm Brian Culbertson
8:00pm BwB (Norman Brown, Kirk Whalum, and Rick Braun)
After Party — 10:30pm at Reggae J’s at Pier Park
(buffet at 10:30pm/Show at 11pm)
featuring Brian Culbertson and special guests
(Presented by Smooth Jazz.com)
Sunday April 21st — Gates open at 10am — Show at 11am
11:00am Roman Street
12:00pm The Southern Gentlemen featuring Joey Sommerville,
Michael Ward, and Eric Essix
2:00pm Yancyy (Seabreeze Rising Star)
4:00pm Average White Band
6:00pm Jazz In Pink featuring Pamela Williams, Athea Rene, Karen Briggs, Gail Jhonson, Maria Antionette, and others
8:00pm Tower of Power
