Buyer's Market = Great Time to Buy

Typically in my posts (and my opinions) I try to steer clear of anything “doom and gloom”. I like to consider myself an optimist, and I like to discuss positively about the real estate market. However, it is very apparent that the current market is definitely slower this year than it was last year.

A friend of mine often says “. . . it is what it is.” Right now we are going through a period of correction and transitioning to a buyer’s market. I found an article that speaks into this at Realtor.org. A link to the article can be found here.
A link to a .pdf version can be found here.

There is a lot of chatter with regard to owners worrying about their real estate investments. The bottom line is that the growth that occured here in Panama City in the last few years was unnatural and extraordinary. If you are an invester and you have the money to hold your investments, then you'll be fine. If you are a speculator and expecting (or expected) to ride the "real estate wave", you may be in trouble. Quick money is great, but over-extending yourself is risky.

Long term: people love the beach. The commercial industry is on track to catch up with the residential growth and when it does Bay County will be huge for destination travelers. I'll post later on other things coming up in this area.