It is no secret that the local real estate market is definitely in favor of the buyer. These changes come and go, although many would argue (and much of the evidence suggests) that the most current market changes are more significant than changes of the past.
A buyer's market is called as such because there is a greater amount of "inventory" on the market than there are buyers willing to purchase. Whereas a seller's market is great for the seller and may bring quick sales and high prices, a buyer's market is great for those that are looking to purchase. Along with a buyer's market comes competitive prices and a large selection.
This is a great time to buy; those who can afford to purchase, should. The deals are not around every corner, but they are there. The Panama City area has strong growth potential and still relatively affordable investment opportunities (if you are willing to dig).
I was reading through some of the columns at Yahoo Finance and found a great article from Robert Kiyosaki, the author of Rich Dad, Poor Dad. The article can be found by clicking here.
The bottom line is, we've got the beach; and the water and sand is beautiful. People love it here.
Monday, November 27, 2006
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7 comments:
We have the beach, water, and sand.... but so does the million of miles of other beach, water, and sandy coastlines. Take Navarre and Mary Ester as an example, they have beach and sand as white as our, along with water as blue. It is very comparable to Callaway in price and location, not really close to anything, just without the smell. As an investment in those areas are more protective because of Herbert Field and proximity to lifestyle offerings versus Callaway as Tyndall, as a whole base, has been on the chopping block. Yes, sections of Herbert Field has been but the that base houses more then one division. Now lets look at PCB compared to simply Destin; PCB has very limited shopping or even high end speciality shops compared to Destin, who has Destin Commons, Silver Sands, numerous large shopping strips, and many speciality shops. Granted we are getting Pier Park, but Simon Group is having a VERY hard time getting anchor stores to sign up and only have Eight named tenents... a far cry compared to Silver Sand alone. Moving forward, Destin has sidewalks along many of it main road, PCB just got a walkway along N. Lagoon and still nothing along Thomas or Front Beach and Back Beach Road, Ha! Other considerations, we have been known as the Red Neck Rivera for the past twenty five year, Destin is the more sophisticated retreat. PCB can't shed that stigma over night and people still refer to it as such, only now under baited breath. It's a joke to think that because we have some big condos that we simply shed that mentality and aura about the area. In reality it has only made the area worse because now we don't have Miracle Strip which did offer some draw, now we have big condos and what is the draw? Beach, sand and water, get real, wake up and smell the coffee!!! My sources state that the area pricing will brought an additional $85,000 and up to $150,000 for the condo market. We are not alone with beach, sand, and water, not at all but simply over our heads and under the water to which as only see ourselves alone and trying to comfort each other with blind hope.
I'm not sure where/how to begin responding to this post.
Tyndall on the chopping block?
What was the bit about condos in PC? Made no sense.
I think this person is taking it on the chin for some risky pre-construction investments and now is taking it out on the area and the English language.
I'll check on Navarre and Mary Ester prices for you, but I doubt they compare to PCB.
Let's collectively dwell on the "English language" aspect for a moment, then gently return to the "red neck riviera" portion; draw a faint "red" line between the two, and then come to rest with a thought about fatalism and self-fulfilling prophesies!!
Home prices: Record drop in October -
Median price sinks 3.5 percent from a year earlier, trade group see more price declines ahead.
http://money.cnn.com/2006/11/28/news/economy/homesales_october/index.htm?cnn=yes
Maybe he is a foreigner who has invested here, but he/she may have something right.
Anonymous poster number 1. I invite you to email me you "source" information on the condo market. I'd be glad to publish it here. My email address is Jason@PCBDaily.com
Thanks for reading!
One consistent theme that comes out of Rich Dad is 'action'. So many times people love to sit on the sidelines and talk about the game as they passively watch.
I love what Walt Disney said, "The way to get started is to quit talking and begin doing."
You have to be willing to make a mistake. I've learned far more by making mistakes then by sitting back and criticizing those out there trying to make something happen.
There's a lot to be learned by watching, but the best and most poignant lessons come from actually doing.
My philosophy is that failure is doing nothing.
and the thing is Kyle..those that bash it the most are probably the ones kicking themselves for not having the courage to take action. I will look at their comments all day long as I drive to the bank
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